{
  "id": 7194517,
  "title": "Beyond Nvidia: How Singapore is earning its place in the semiconductor value chain",
  "url": "https://urgent.news/2026/09/13/beyond-nvidia-how-singapore-is-earning-its-place-in-the-semiconductor",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-09-13T23:00:00.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/uncovering-the-singapore-bourse/beyond-nvidia-how-singapore-earning-its-place-semiconductor-value-chain"
  },
  "original_language": "en",
  "account": "Singapore is establishing itself as a significant player in the semiconductor value chain, despite not having listed companies in the sector. The government has invested heavily in creating a physical ecosystem through its semiconductor industry, with projects like Silicon Box and VSMC building advanced manufacturing facilities. Despite this, local equity markets have not yet appreciated the value of these investments.\n\nHowever, Singapore's listed semiconductor companies are showing strong financial performance. AEM reported a 904% increase in net profit year-over-year and a significant boost in revenue guidance. Similarly, UMS Integration posted substantial revenue and profit growth. These companies are not directly competing with industry giants like Nvidia, but rather are part of a more specialized ecosystem focused on advanced packaging, testing, interconnect, and thermal management.\n\nThe shift towards these downstream areas is driven by the increasing complexity and cost of semiconductor manufacturing, making the value downstream higher. With more performance gains coming from improved packaging, testing, and cooling, Singapore's expertise in these areas becomes more critical. This shift benefits Singapore, especially in applications that require high power density, such as AI systems.\n\nAs these systems become more valuable, the risk of failure also increases, making the role of suppliers even more crucial. Suppliers that can improve yield, reliability, throughput, power efficiency, or performance will have stronger economics and more defensible positions. Singapore's physical advantages, such as its established semiconductor ecosystem, have attracted major players like Micron and Applied Materials, creating a mutually reinforcing cluster of specialized suppliers and talent.\n\nThe government's commitment to the sector is further evidenced by the recent S$800 million investment in a semiconductor program focused on advanced packaging and photonics. The presence of large-scale facilities like Micron's US$24 billion wafer fab and UMC's US$5 billion production plant underscores Singapore's growing importance in the global semiconductor landscape. As more companies move into more technically demanding and critical areas, Singapore is well-positioned to maintain its advantage by leveraging its existing ecosystem and infrastructure.",
  "summary": "It occupies the part which AI has made expensive to get wrong – this is starting to be reflected by the listed...",
  "key_points": [
    "Singapore invests heavily in semiconductor ecosystem through projects like Silicon Box and VSMC.",
    "Local semiconductor companies like AEM and UMS Integration show strong financial performance."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}