6-K

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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER

                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                      THE SECURITIES EXCHANGE ACT OF 1934

                         FOR THE MONTH OF OCTOBER, 2001

                         COMMISSION FILE NUMBER 0-29103

                          ST ASSEMBLY TEST SERVICES LTD
             (Exact name of registrant as specified in its charter)

                                 NOT APPLICABLE
                 (Translation of registrant's name into English)

                              REPUBLIC OF SINGAPORE
                 (Jurisdiction of incorporation or organization)

                      5 YISHUN STREET 23, SINGAPORE 768442
                                  (65) 755-5885
                    (Address of principal executive offices)

     Indicate by check mark whether the registrant files or will file annual
                  reports under cover Form 20-F or Form 40-F.

                          Form 20-F X         Form 40-F
                                   ---                 ---

  Indicate by check mark whether the registrant by furnishing the information
    contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                              Yes                No X
                                  ---              ---

  If "Yes" is marked, indicate below the file number assigned to the registrant
                       in connection with Rule 12g3-2(b).
                                Not applicable.

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                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                            ST Assembly Test Services Ltd

                            By:/s/ Tan Lay Koon
                               ---------------------------------------------
                               Name:   Tan Lay Koon
                               Title:  Chief Financial Officer
                               Date:   October 29, 2001

EX-99

FOR IMMEDIATE RELEASE


CORPORATE RELEASE
-----------------


                      STATS SETS UP FASTRAMP TEST SERVICES


        EXPANDS TEST OPERATIONS TO PROVIDE ENGINEERING AND PRE-PRODUCTION
                       TEST SERVICES IN THE UNITED STATES


SINGAPORE AND MILPITAS, CALIFORNIA, OCTOBER 29, 2001 - ST Assembly Test Services
Ltd ("STATS" - NNM: STTS and SGX: ST Assembly), a leading independent
semiconductor test and advanced packaging service provider, today announced the
establishment of a wholly-owned subsidiary, FastRamp Test Services, Inc.
("FastRamp"), to provide high-end engineering and pre-production test services
in Silicon Valley. Scheduled to operate at its new built-to-suit premises in
January 2002, FastRamp will have a variety of advanced testers available and
provide test hardware and software development, pre-production volume testing
services and a unique customer-to-lab-to-factory relay for fast production
offloads and capacity coordination. The fully equipped engineering test facility
will offer STATS' industry-leading mixed-signal test development solutions and
production know-how in a state-of-the-art facility to help customers move
quickly into production.

"Test hardware, software and the manufacturing procedures are often developed
in a setting that does not match the offshore volume testing environment," said
Mark Kelley, General Manager of FastRamp. "Our concept is to create in the U.S.,
a microcosm of our elite-class test facilities in Singapore by offering a
similarly configured and comprehensive array of advanced tester platforms,
handlers, probers, interface hardware and manufacturing processes. High-end
tester platforms such as the Teradyne Tiger, Teradyne Catalyst - RF, Teradyne
J750, Agilent 93K and Credence Quartet will be made available at FastRamp so
that our customers can offload production locally and leave the offshore
transfer to us."

Added Kelly, "Initial customer response to our concept has been very positive,
and we are supporting immediate demands by staging additional testers at STATS'
current Test Development Center in San Jose until our new facility is ready in
January."

The new 34,000 sq. ft facility in Milpitas, California will house the new test
facility, STATS' existing Silicon Valley Test Development Center, as well as
sales support. The FastRamp team designed the facility to offer customers an
atmosphere ideally configured for uninterrupted engineering development
activities, integrating services such as on-site test development, on-site
loadboard and probe card design and 100% lab-to-factory hardware compatibility
for smooth transition to production. Unique to FastRamp is the ability for
customers to work in an office environment with full view of the testhead in
operation. FastRamp's personnel, test equipment and processes are specifically
aligned to help customers launch new products on schedule, meeting volume ramps
and production cost targets.



FastRamp will have an experienced engineering team, many of whom have years of
experience in the STATS factory. These team members will provide test planning,
solutions consulting, test program optimization as well as first silicon debug
and device characterization. On-site loadboard designers will provide blue-line
drawings and quick hardware quotes. The facility will also accommodate the
pre-production volume testing needs of customers locally.

Said Tan Bock Seng, Chairman and Chief Executive Officer, "STATS continues to
increase our competitive advantage by enhancing our leadership in mixed-signal
testing. FastRamp, together with our dominant manufacturing footprint in
Singapore and Taiwan and our global Test Development Centers in the United
States, United Kingdom and Singapore offer customers multi-site test development
capabilities and round-the-clock support for production and data collection."

"FastRamp will not only add incremental revenues but also facilitate the
seamless off-loading of development devices into full volume production at our
manufacturing facilities in Singapore and Taiwan. This is in line with our
strategy to reinforce our strategic geographic footprint in readiness for the
expected growth in outsourcing for test. The cash investment is about $10
million for the purchase of next generation testers. We would also be
transferring a number of high-end mixed signal testers from our facility in
Singapore to FastRamp. This is an effective way of increasing the utilization of
some of our existing testers," added Tan.

According to industry sources, test outsourcing is expected to grow at a CAGR of
47.1% from 1999 through 2003, driven by the rapid growth of fabless companies
worldwide and reduced test capital investment by integrated device
manufacturers.

"STATS works closely with customers to provide sophisticated software
engineering services, including test program development, conversion and
optimization," added Han Tiang Fong, STATS' Vice President for Test Operations.
"With the customization and fine-tuning involved in test program development
prior to actual production testing, it is important for STATS to be in close
proximity to our customers. FastRamp will allow customers to work closely with
our engineering staff, accelerating the transition to volume production and
significantly reducing new device time to market."




ABOUT ST ASSEMBLY TEST SERVICES LTD. (STATS)

ST Assembly Test Services ("STATS" - NNM: STTS and SGX: ST Assembly), is a
leading semiconductor test and assembly service provider to fabless companies,
integrated device manufacturers and wafer foundries. With its principal
operations in Singapore and global operations in the United States, United
Kingdom, Japan and Taiwan, STATS offers full back-end turnkey solutions to
customers worldwide. STATS' expertise is in testing mixed-signal semiconductors,
which are extensively used in fast growing communications applications such as
data networking, broadband and mobile communications. STATS also offers advanced
assembly services and has developed a wide array of traditional and advanced
leadframe and laminate based products, including various ball grid array
packages to serve some of the world's technological leaders. STATS was listed on
the Nasdaq National Market and The Singapore Exchange in January 2000 and is in
the Morgan Stanley Capital International (MSCI) Provisional Singapore Index and
the Straits Times Industrial Index. Further information is available at
www.stts.com.

Certain of the statements in this press release are forward-looking statements
including statements with respect to industry growth, that involve a number of
risks and uncertainties which could cause actual results to differ materially.
Factors that could cause actual results to differ include : general business and
economic conditions and the state of the semiconductor industry; demand for
end-use applications products such as communications equipment and personal
computers; decisions by customers to discontinue outsourcing of test and
assembly services; changes in customer order patterns; rescheduling or
cancellation of customer orders; changes in product mix; capacity utilization;
level of competition; pricing pressures; continued success in technological
innovation; delays in acquiring or installing new equipment; litigation and
other risks described from time-to-time in the Company's SEC filings, including
its annual report on Form 20-F dated March 30, 2001. The Company undertakes no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.


                                                           
SINGAPORE CONTACTS :

Elaine Ang                                                    Khor Hwee Eng
Manager, Investor Relations / Corporate Communications        Senior Marcom Executive, Asia / Europe
Tel : (65) 751 1738, Fax : (65) 755 1585                      Tel : (65) 751 1291, Fax : (65) 755 5431
email :angelaine@stats.st.com.sg                              email: khorhweeeng@stats.st.com.sg


US CONTACTS :

Drew Davies                                                   Lisa Lavin
Director, Investor Relations                                  Marcom Manager
Tel : (408) 941 3021, Fax : (408) 941 3014                    Tel : (208) 672 6112, Fax : (208) 672 6132
email : daviesd@statsus.com                                   email : lavinl@statsus.com