Ailing Sarawak-based RM3.8-billion wafer fab manufacturing concern 1st Silicon (Malaysia) Sdn Bhd has raised new financing totaling RM2.33 billion in both equity and credit "to purchase equipment to bring its manufacturing facility up to capacity levels".

This was disclosed by the company's recently-appointed chief operationg officer Dr John Nelson in a press statement released late last night.

"The additional equity gives 1st Silicon the capability to meet and exceed customer requirements through providing support infrastructure and continuous technology development efforts, essential to serve its global customer portfolio."

Of the RM2.33 billion raised, RM1.1 billion is additional equity raised since January 2002 thus increasing the company's paid-up share capital from RM1.2 billion to RM2.329 billion.

"The additional equity gives 1st Silicon the capability to meet and exceed customer requirements through providing support infrastructure and continuous technology development efforts, essential to serve its global customer portfolio," Nelson said.