Based on Chartered 2008 annual report, it has almost $3 billion contractual obligation over next 5 years.
Just how big is $3 billion? As a reference, GlobalFoundries is building a brand new 12" Fab in New York at a cost of $4.2 billion ($3.4 billion excluding construction cost), designed to ramp at 28nm and subsequently 22nm technology nodes, with a capacity of 35k 12" wafer per month.
Chartered total capacity per quarter is about 640k 8" equivalent wafer, or 213k per month, and that should equivalent to about 95k 12" equivalent wafer per month.
In other words, Chartered is carrying the cash outflow obligation equivalent to building 1/3 of its current capacity.
As of 30/June/09, Chartered has a current asset of about $1.25b, about $0.8b is cash or equivalent (remember the $0.3b cash call?). With the $800m obligation (see picture) and the latest $500 capex plan announced, it certainly seems very stretched for Chartered, even though it is expected to have positive operating cashflow.
We shall see how it resolves this ... very soon.
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