International Semi-Tech Microsystems or Semi-Tech Microsystems (STM) was a Canadian-based household and consumer products firm in Markham, Ontario.[1] Semi-Tech Corporation's former head offices were at 131 McNabb Street (Warden Avenue and 14th Avenue) and near Woodbine Avenue and 14th Avenue (2880 14th Avenue).[2]
| Founded | 1981 |
|---|---|
| Founder | James Ting |
| Defunct | 2000 |
| Fate | Bankruptcy |
| Headquarters | Markham, Ontario |
Founded by Chinese-born Hong Kong-Canadian businessman James Ting in 1981, the firm had manufacturing facilities in China. Macau gambling tycoon Stanley Ho was once the firm's Chairman.[3] The firm once traded on the Toronto Stock Exchange (SEM.A and SEM.B). It was renamed Semi-Tech Corporation in 1994 as it diversified into consumer products.
The company had bad bonds and millions of dollars of Canadian shareholders were burned. By late 1999, the company had just $600,000 in cash and unpaid debts of $650 million.[4] It filed for bankruptcy in 2000.[5] Ting was convicted of false accounting on Semi-Tech and its successor Akai Holdings and his other business Singer Corporation.[6]
See also
editReferences
edit- ^ "Semi-Tech Corporation - Akai To Unveil DVD Player End Of January, 1997. - Free Online Library". www.thefreelibrary.com. Archived from the original on 2016-03-05.
- ^ "Corporate Markham - Markham's Corporate Community Online". Archived from the original on 2006-10-21. Retrieved 2013-01-03.
- ^ "Dishonored Dealmaker". Bloomberg.com. 5 August 2002. Archived from the original on October 14, 2012.
- ^ "The wrecking of Singer". Forbes.
- ^ http://www.nycourts.gov/comdiv/Law%20Report%20Files/May%202004/Moskowitz%20Semi%20Tech.htm
- ^ "James Ting, boy wonder, finally has his day in court".