Singapore: This Island Is Crazy For Chips

Despite the glut, Singapore is putting up more plants

Tan Bock Seng stands at the window of an elegant boardroom in his newly opened $700 million chip plant and points at the swarm of construction workers across the street. They are busy putting up the cement columns for another fabrication facility, Chartered Semiconductor Manufacturing's third in Singapore. "That's where Fab 4 will go," says Tan, president of state-owned Chartered, gesturing to the right. "And over yonder," he adds, "we'll knock those buildings down to make way for Fab 5." From his window, Tan can see across the Strait of Johor to Malaysia, where he plans yet another chip plant.

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