Mi Equipment Holdings Bhd group CEO & executive director Oh Kuang Eng.
THE Top 40 Richest in Malaysia list for 2020 saw the entries of new tech billionaires from five companies, as they became beneficiaries of the China-United States trade tensions as well as a Covid-19 pandemic-induced electronic equipment demand surge, as lockdowns forced people to work from home.
Net worth is computed based on the closing share price of the companies as at Dec 31,2020.
It is worth noting that Penang is the base for four of the five new tech companies on the list, with the exception of Melaka-based D&O Green Technologies Bhd
THE tech stock rally this month, which was particularly strong last week, should not come as a surprise to investors as many of the counters have hit all-time highs since last year’s June-to-August market rally.
The spectacular share price performances of these semiconductor and semiconductor-related stocks have been overshadowed by the rubber glove mania last year amid the Covid-19 pandemic. Until lately, that is.
One major factor fuelling the current rally is the global chip shortage, which has pushed up the prices of certain semiconductors and caused automotive firms to halt production.
But it appears that the shortage has become a boon to semiconductor players, including Malaysian companies, as lockdowns and travel restrictions are prompting consumers to buy more smartphones, smart devices, smart TVs, computers and laptops.
KUALA LUMPUR (Dec 18): Mi Technovation Bhd today proposed the acquisition of a 99% stake in the Taiwanese firm Accurus Scientific Co Ltd for RM217.01 million.
This follows the group’s signing a memorandum of understanding with Accurus and its shareholders in early October for the purpose of due diligence and negotiations related to its proposed acquisition of all or part of the equity interest in Accurus.
In a filing today, Mi Technovation said the purchase of the 99% stake will be satisfied via the issuance of 74.25 million new shares at RM3.65 per share.
Accurus is involved in the manufacturing of solder spheres which are widely used in advanced packaging such as ball grid array and wafer level packaging in the semiconductor industry. The principal markets for Accurus is Taiwan and China.