07.23.2001
IC Design: Update: New issue on MediaTek

• Development: MediaTek will list on TSE today. Market expects MediaTek to report interim PAT of NT$2.1bn, with EPS of NT$9.73, which exceeds our expectations. These figures represent a net margin of 42%, up from 25% achieved in 2000.

• Analysis: We believe single chip solutions coupled with the write back of legal charges will likely be attributed to the higher margins.

• Primasia View: For now, we maintain our 2001 forecast. However, we may adjust figures upon release of Mediatek’s interim report or disclosure from a confirmed source of information.