• Samsung keeps deal with PH-based supplier intact

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    STS Semiconductor and Telecommunications Co. Ltd., the South Korean-based parent of locally listed Phoenix Semiconductor Philippines Corp. (PSPC), has been assured of continued business by client Samsung Electronics Co. Ltd.

    STS received a letter from Samsung on June 19 confirming its commitment to maintain a supply agreement signed with PSPC on July 14, 2010.

    STS is pursuing an administrative process with Korean creditors over the debt of affiliate BKE&T Co. Ltd. which was guaranteed by STS

    Samsung said it will fulfill its contract with PSPC as preferred supplier and test provider of memory cards, chips and modules.

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