DNeX group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said DNeX is open to any collaboration with strategic partners and investors that can bring value to the group.
KUALA LUMPUR: Hon Hai Precision Industry Co Ltd’s subsidiary Foxconn Singapore Pte Ltd has emerged as a substantial shareholder in Dagang Nexchange Bhd (DNeX) after purchasing 120 million shares.
A filing with Bursa Malaysia showed the shares, representing a 5.03% stake, were acquired on June 10 from the existing shareholders.
DNeX group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said DNeX is open to any collaboration with strategic partners and investors that can bring value to the group.
DNeX group MD sees opportunities to unlock and create value as Foxconn emerges as substantial shareholder theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Dagang NeXchange Bhd's (DNeX) share and warrant prices rose and became the most-actively traded securities in morning trade on Bursa Malaysia today following news that Hon Hai Precision Industry Co Ltd, the main assembler of Apple Inc’s iPhones, has acquired 120 million shares or a 5.03% stake in DNeX for RM108 million.
Foxconn to invest $700 million in Vietnam 16:10 | 11/03/2021
Foxconn s investment of $700 million is expected to create 10,000 jobs for Vietnamese people
A representative of Foxconn said that by the end of 2020, the group has invested $1.5 billion in Vietnam.
One of the company s key projects is the $270 million factory of Fukang Technology in Bac Giang province, in which Foxconn Singapore Pte., Ltd. is the investor.
Fukang Technology is a subsidiary of Foxconn (also known as Hon Hai Precision Industry Company). It has been licensed to invest in building factories to manufacture 8 million MacBook and iPad products a year.
Foxconn s total revenue in Vietnam amounted to $3 billion in 2019, $6 billion in 2020, and could reach $10 billion this year. Foxconn s goal in the next 3-5 years is to increase sales in Vietnam to $40 billion.