SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October,
2002
ChipMOS TECHNOLOGIES
(Bermuda) LTD.
(Translation of Registrant’s Name Into English)
No. 1, R&D Road 1
Science-Based Industrial Park
Hsinchu, Taiwan
Republic of China
(Address of Principal Executive Offices)
(Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
| Form 20-F ü |
Form 40-F |
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes No ü
(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
82- .)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
| ChipMOS TECHNOLOGIES (BERMUDA) LTD. (Registrant) | ||||||||
| Date: October 31, 2002 |
By: |
/s/ S.J. CHENG | ||||||
| Name: S. J. Cheng Title: Deputy Chairman & Chief Executive Officer | ||||||||
2
EXHIBITS
| Exhibit Number |
Page | |||
| 1.1 |
Selected Unaudited Consolidated Financial Data of ChipMOS TECHNOLOGIES (Bermuda) LTD. for the nine Months Ended September 30, 2002 |
4 |
3
Exhibit 1.1
ChipMOS TECHNOLOGIES (Bermuda) LTD. AND SUBSIDIARIES
Selected Unaudited Consolidated Financial Data
(In Thousands, Except Earnings Per Share and Par Value Data)
| Nine Months Ended Sep 30, 2002 |
||||||
| NT$ |
US$ |
|||||
| Consolidated Statement of Income Data: |
||||||
| ROC GAAP: |
||||||
| Net revenues |
4,712,656 |
|
134,956 |
| ||
| Gross profit |
(192,601 |
) |
(5,516 |
) | ||
| Net income |
(736,721 |
) |
(21,097 |
) | ||
| Earnings per share |
(12.63 |
) |
(0.36 |
) | ||
| As of Sep 30, 2002 |
||||||
| NT$ |
US$ |
|||||
| Consolidated Balance Sheet Data: |
||||||
| ROC GAAP: |
||||||
| Total Assets |
16,801,571 |
|
481,145 |
| ||
| Total Liabilities |
9,948,786 |
|
284,902 |
| ||
| Capital Stock |
19,048 |
|
546 |
| ||
| —Par value US$0.01 |
||||||
| —Issued 58,342 thousand shares |
||||||
| Capital Surplus |
7,582,172 |
|
217,130 |
| ||
| Total Shareholders’ Equity |
6,852,785 |
|
196,242 |
| ||
4
ChipMOS TECHNOLOGIES (Bermuda) LTD. AND SUBSIDIARIES
Selected Unaudited Consolidated Financial Data in Connection with
Related Party
Transactions with Mosel Vitelic Inc.
| Nine Months Ended Sep 30, 2002 | ||||
| NT$ |
US$ | |||
| (in thousands) | ||||
| Consolidated Statement of Income Data: |
||||
| ROC GAAP: |
||||
| Sales |
1,581,008 |
45,275 | ||
| Rental revenue |
28,737 |
823 | ||
| Administrative expenses |
3,575 |
102 | ||
| Rental expense |
2,114 |
61 | ||
| Other non-operating income |
3,600 |
103 | ||
| As of Sep 30, 2002 | ||||
| NT$ |
US$ | |||
| (in thousands) | ||||
| Consolidated Balance Sheet Data: |
||||
| ROC GAAP: |
||||
| Accounts receivable |
827,148 |
23,687 | ||
| Deferred assets |
5 |
— | ||
| Other receivable |
834 |
24 | ||
| Other payable |
915 |
26 | ||
Note1: |
References to “US$” and “U.S. dollars” are to United States dollars and references to “NT$” and “NT dollars” are
to New Taiwan dollars. This information contains translations of certain NT dollars amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from NT dollars to U.S. dollars were
made at the noon buying rate in The City of New York for cable transfers in NT dollars per U.S. dollars as certified for customs purposes by the Federal Reserve Bank of New York as of Sep.30, 2002, which was NT$34.92 to US$1.00. The convenience
translations should not be construed as representations that the NT dollar amounts have been, could have been or could in the future be, converted into U.S. dollars at any particular rate or at all. |
5
ChipMOS TECHNOLOGIES (Bermuda) LTD. AND SUBSIDIARIES
(“ChipMOS Bermuda”)
Related
Information of Investees
Sep 30, 2002 (Unaudited)
(In
Thousands of New Taiwan Dollars)
1. Names, Location and Other Information of Investees for Whom the
Company Exercises Significant Influence
| Investor |
Investee |
Location |
Main Business and Products |
Original Investment Amount |
Balance as of Sep. 30, 2002 |
Net Income (Loss) of the
Investee |
Investment Gain(Loss) |
|||||||||||||||||
| Sep. 30, 2002 |
Dec. 31, 2001 |
Shares |
Percentage of Ownership |
Carrying Value |
||||||||||||||||||||
| ChipMOS Bermuda |
ChipMOS TECHNOLOGIES INC. |
HsinChu Taiwan |
Research, development, manufacture, testing and packaging of integrated circuits |
8,708,825 |
8,708,825 |
618,424 |
70 |
% |
6,977,575 |
|
(962,760 |
) |
(671,044 |
) | ||||||||||
| ChipMOS TECHNOLOGIES INC. |
ChipMOS Japan Inc. |
Tokyo Japan |
Research, development, design, manufacture, testing and packaging of integrated circuits. Marketing of Semi-conductor integrated circuits and electronic
parts |
2,699 |
2,699 |
— |
100 |
% |
(1,166 |
) |
520 |
|
520 |
| ||||||||||
| ChipMOS TECHNOLOGIES INC. |
ChipMOS USA Inc. |
Sunnyvale U.S.A |
Research, development, Marketing and distribution of Semi-conductor, integrated circuits, and electronic related Products |
3,088 |
3,088 |
50 |
100 |
% |
(9,166 |
) |
724 |
|
724 |
| ||||||||||
| ChipMOS TECHNOLOGIES INC. |
PlusMOS Technologies Inc. |
Chupei Taiwan |
Manufacture, design, distribution and sale of electronic product |
300,000 |
300,000 |
30,000 |
25 |
% |
57,865 |
|
20,571 |
|
4,587 |
| ||||||||||
| ChipMOS TECHNOLOGIES INC. |
CHANTEK Electronic Industrial Co. |
Chupei Taiwan |
manufacture, testing and packaging of integrated circuits |
213,790 |
118,772 |
34 |
% |
206,739 |
|
(941,884 |
) |
(7,051 |
) | |||||||||||
6
2. Purchase from or Sales to Related Parties
| Investee |
Related Party |
Nature of Relationship |
Transaction Details |
Abnormal Transaction |
Notes/Accounts Payable or Receivable | |||||||||||||||
| Purchase / Sale |
Amount |
Percentage to Total |
Payment Term |
Unit Price |
Payment Term |
Sep. 30, 2002 |
Percentage To Total | |||||||||||||
| ChipMOS TECHNOLOGIES INC. |
Mosel Vitelic Inc. |
Mosel indirectly Owns 45% of outstanding shares of investee |
Sale |
1,609,344 |
34% |
90 days from monthly closing date |
NA |
NA |
827,982 |
44% | ||||||||||
| ChipMOS TECHNOLOGIES INC. |
Ultima Electronics Corp. |
The investee owns 8% of outstanding shares of Ultima Electronics Corp.
|
Sale |
990,017 |
21% |
90 days From monthly closing date |
NA |
NA |
174,961 |
9.1% | ||||||||||
3. Receivables from Related Parties
| Investee |
Related Party
|
Nature of Relationship |
Sep. 30, 2002 |
Turnover Rate
|
Overdue |
Amount Received in Subsequent period |
Allowance For Bad Debts | |||||||||
| Amount |
Overdue Action Taken |
|||||||||||||||
| ChipMOS TECHNOLOGIES INC. |
Mosel Vitelic Inc. |
Mosel indirectly Owns 45% of outstanding shares of investee |
827,982 |
1.9437 |
NA |
NA |
NA |
NA | ||||||||
| ChipMOS TECHNOLOGIES INC. |
Ultima Electronics Corp. |
The investee owns 8% of outstanding shares of Ultima Electronics Corp. |
172,330 |
5.7449 |
NA |
NA |
NA |
NA | ||||||||
7
4. Marketable Securities Held
| Held Company Name |
Marketable Securities Type and Name |
Relationship with ChipMOS Bermuda |
Financial Statement Account |
Sep 30, 2002 |
|||||||||||||
| No. of Shares |
Carrying Value |
Percentage of Ownership |
Market Value or Net Asset
Value |
||||||||||||||
| ChipMOS TECHNOLOGIES INC. |
PRESIDENT JAMES BOND FUND |
NA |
Short-term investments |
13,836 |
200,000 |
|
— |
|
200,000 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
UBS TAIWAN BOND FUND |
NA |
Short-term investments |
3,577 |
50,000 |
|
— |
|
50,000 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
ASIA PACIFIC BOND FUND |
NA |
Short-term investments |
12,594 |
150,000 |
|
— |
|
150,030 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
TA CHONG BOND FUND |
NA |
Short-term investments |
12,326 |
150,000 |
|
— |
|
150,030 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
TIIM BOND FUND |
NA |
Short-term investments |
15,122 |
200,000 |
|
— |
|
200,000 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
UNION BOND FUND |
NA |
Short-term investments |
17,581 |
200,000 |
|
— |
|
200,000 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
TAI-YU LONG RIVER BOND FUND |
NA |
Short-term investments |
26,303 |
290,000 |
|
— |
|
290,054 |
| |||||||
| ChipMOS TECHNOLOGIES INC |
TRUSWELL BOND FUND |
NA |
Short-term investments |
12,580 |
150,000 |
|
— |
|
150,030 |
| |||||||
| ChipMOS TECHNOLOGIES INC |
SOLOMON FUND |
NA |
Short-term investments |
13,777 |
150,000 |
|
— |
|
150,030 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
Mosel Vitelic Inc |
Mosel indirectly owns 45% of outstanding shares of ChipMOS Bermuda |
Investment in affiliates |
13,396 |
147,356 |
|
— |
|
108,776 |
| |||||||
| ChipMOS TECHNOLOGIES INC |
CHANTEK Electronic Industrial Co |
Subsidiary of ChipMOS TECHNOLOGIES INC |
Investment in affiliates |
118,772 |
206,739 |
|
34 |
% |
312,370 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
ChipMOS Japan Inc |
Subsidiary of ChipMOS TECHNOLOGIES INC. |
Investment in affiliates |
— |
(1,166 |
) |
100 |
% |
(1,166 |
) | |||||||
| ChipMOS TECHNOLOGIES INC. |
ChipMOS U.S.A Inc |
Subsidiary of ChipMOS TECHNOLOGIES INC. |
Investment in affiliates |
50 |
(9,166 |
) |
100 |
% |
(9,166 |
) | |||||||
| ChipMOS TECHNOLOGIES INC. |
PlusMOS Technologies Inc. |
Subsidiary of ChipMOS TECHNOLOGIES INC. |
Investment in affiliates |
30,000 |
57,865 |
|
25 |
% |
57,865 |
| |||||||
| ChipMOS TECHNOLOGIES INC. |
Ultima Electronics Corp. |
Subsidiary of ChipMOS TECHNOLOGIES INC. |
Investment in affiliates |
18,586 |
218,098 |
|
8 |
% |
547,356 |
| |||||||
8
5. Acquisition or Disposal of Marketable Securities
| Company Name |
Marketable Securities Type And Name |
Accounts of Financial Statement |
December 31, 2001 |
Acquisition |
Disposal |
Sep 30, 2002 | ||||||||||||||||||
| Shares |
Amount |
Shares |
Amount |
Shares |
Amount |
Carrying Value |
Gain(loss) on Disposal |
Shares |
Amount | |||||||||||||||
| ChipMOS TECHNOLOGIES INC. |
PRESIDENT JAMES BOND FUND |
Short-term investments |
2,497 |
35,329 |
36,131 |
519,912 |
24,792 |
356,800 |
355,241 |
1,559 |
13,836 |
200,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
HSBC NTD MONEY MANAGEMENT FUND 2 |
Short-term investments |
1,620 |
21,055 |
23,232 |
305,142 |
24,852 |
327,115 |
326,198 |
918 |
— |
— | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
UBS TAIWAN BOND FUND |
Short-term investments |
1,706 |
23,359 |
22,825 |
316,580 |
20,954 |
290,988 |
289,940 |
1,049 |
3,577 |
50,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
ASIA PACIFIC BOND FUND |
Short-term investments |
4,305 |
50,167 |
39,602 |
468,154 |
31,313 |
369,948 |
368,321 |
1,627 |
12,594 |
150,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
FIRST GLOBAL WANTAI ASSETS INCOME FUND |
Short-term investments |
11,827 |
152,288 |
15,699 |
204,367 |
27,526 |
358,128 |
356,655 |
1,473 |
— |
— | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
TA CHONG BOND FUND |
Short-term investments |
5,224 |
62,218 |
19,782 |
240,022 |
12,679 |
153,119 |
152,240 |
879 |
12,326 |
150,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
TIIM BOND FUND |
Short-term investments |
3,431 |
44,356 |
41,822 |
550,834 |
30,131 |
396,215 |
395,190 |
1,025 |
15,122 |
200,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
UNION BOND FUND |
Short-term investments |
4,111 |
45,765 |
62,980 |
710,660 |
49,511 |
558,228 |
556,425 |
1,803 |
17,581 |
200,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
TAI-YU LONG RIVER BOND FUND |
Short-term investments |
10,128 |
109,223 |
84,433 |
926,146 |
68,258 |
747,187 |
745,369 |
1,818 |
26,303 |
290,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
TRUSWELL BOND FUND |
Short-term investments |
— |
— |
23,938 |
284,249 |
11,359 |
134,854 |
134,249 |
605 |
12,580 |
150,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
SOLOMON FUND |
Short-term investments |
6,767 |
72,107 |
37,785 |
410,233 |
30,776 |
333,880 |
332,340 |
1,540 |
13,777 |
150,000 | ||||||||||||
| ChipMOS TECHNOLOGIES INC. |
Mosel Vitelic Inc |
Long-term investments |
— |
— |
13,396 |
242,416 |
— |
— |
— |
— |
13,396 |
147,356 (Note2) | ||||||||||||
Note 2: Short-term investment is reclassified to long-term investment net of decline in market value of NT$95,060.
9
6. Endorsement and Guarantee Provided
| Collateral Provider |
Counter Party |
Limitation on Collateral |
Maximum Balance for the period |
Sept. 30, 2002 |
Amount of properties guaranteed by collateral |
% of accumulated amount of collateral on net equity of the latest financial statement |
||||||||||||
| Name |
Relationship with ChipMOS Bermuda |
|||||||||||||||||
| ChipMOS TECHNOLOGIES INC. |
Ultima Electronics Corp. |
Subsidiary of ChipMOS TECHNOLOGIES INC. |
12,013,042 |
$ |
600,000 |
$ |
600,000 |
$ |
600,000 |
5.99 |
% | |||||||
Note: The financial data contained herein are based on our unaudited consolidated
financial statements and, accordingly, may be subject to change. In addition, we anticipate that it is likely that there will be changes to our loss relating to our investment in, and the carrying value of, Chantek Electronic Industrial Co. Ltd.
based upon an independent valuation of the investment currently being conducted.
10