The company may get a boost in revenue with four to five new customers expected in the next few quarters, said Waite. He won't be more specific. Waite also said that spending on investments this year will be cut to US$550 million, less than half of the US$1.2 billion slated at the start of the year.
"There are no real surprises in the headline numbers but there's still more bad news coming out of the semiconductor industry," said Cher Hung Jin, who helps manages US$200 million at Daiwa SB Investments Ltd in Singapore. He declined to say if he holds Chartered shares.
Chartered shares in Singapore rose S$0.16 to S$3.52, the first gain in four days. The stock has lost 56 percent of its value in the past year, while the Bloomberg Asia Pacific Semiconductors Index fell 51 percent.
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