IC distributor Coasia secures NT$1 billion syndicated loan Tweet

Coasia Microelectronics has signed a NT$1 billion (US$31 million) syndicated loan with banks to fund operations, according to the company. The IC distributor said sales of its distributed products including CMOS image sensors, multi-chip package (MCP) memory and OLED displays have grown since the fourth quarter of 2009.

Coasia reported revenues of NT$1.72 billion for April 2010, a record high. Accumulated revenues from January to April amounted to NT$5.16 billion, compared to NT$2.03 billion during the same period of 2009.

Market watchers expect Coasia's second-quarter revenues to hit a quarterly high, buoyed by its strong shipments of electronics components used in smartphones.

The Chinese-language Commercial Times cited analysts saying Coasia's sales have recently been boosted by growing demand from HTC. Coasia reportedly has cut into the supply chain of the smartphone vendor by supplying Samsung products.

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