JF Tech completes Q3 Probe acquisition to boost vertical integration
KOTA DAMANSARA: Main market-listed leading innovator and manufacturer of high-performance test contacting solutions for global integrated circuit (IC) makers, JF Technology Bhd's wholly-owned subsidiary, JF International Sdn Bhd (JFI), has completed the acquisition of an 80% equity interest in Q3 Probe Pte Ltd for US$1.36 million, or approximately RM6.0 million, from the US-based parent company, Spire Manufacturing Inc (SMI).
The group also has the option to acquire the remaining 20% equity interest in Q3 by December 31, 2027.
JF Technology managing director Datuk Foong Wei Kuong said this acquisition brings forward momentum as the addition of Q3 is a highly synergistic move.
'It further enhances our vertical integration and elevates the group within the dynamic semiconductor supply chain.
'Q3 Proba's expertise in front-end wafer testing perfectly complements our test engineering solutions business.
'This creates a powerful combination that enables us to expand the business on a global scale,' he said in a statement.
Foong said by bringing Q3's capabilities into JF Technology's fold, the company is enhancing its test engineering solutions business and reinforcing its position across the entire semiconductor value chain—from front-end to back-end testing.
'We are now the only provider in Malaysia with such a comprehensive probe card product line,' he said.
Foong also noted that this vertical integration is a core pillar of JF Technology's ongoing JF 4.0 Transformation.
'We also plan to set up a production line in Malaysia to produce Q3's products to serve our strong customer base of more than 200 multinational corporations.
'Looking ahead, while we are navigating through a period of heightened geopolitical tensions, we continue to see vast opportunities ahead, especially from the electric vehicle (EV) applications,' he said.
Q3 is a specialist in manufacturing probe cards based in Singapore, supplying patented products to its customers.
For the financial year ended December 31, 2023, Q3 delivered a net profit of approximately S$231,000 or RM767,000.
The acquisition is structured with a 3-year performance earn-out arrangement amounting to US$90,670, or approximately RM401,000, at the end of each calendar year for 3 years post-closing, totaling US$272,010, or approximately RM1.2 million, contingent on meeting the profit guarantee by the vendor.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
22 minutes ago
- New Straits Times
Insolvency Department aims to release 200,000 from bankruptcy by end of 2025
SHAH ALAM: The Insolvency Department aims to release 200,000 individuals from bankruptcy by year-end, Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. She said so far, 186,000 individuals had been discharged, allowing them a fresh start in life. "Last year, we discharged 180,000 individuals. So far, the number discharged is 186,000. We hope to reach a total of 200,000 by the end of the year. "We are trying to expedite this process as it is a directive from the prime minister under the Second Chance Policy," she told reporters after the launch of the Financial Literacy Programme at Public and Private Higher Learning Institutions, held at Universiti Teknologi Mara. Under the policy, it aims to discharge bankruptcy for young individuals aged 40 and below with debts not exceeding RM200,000. Last year, Prime Minister Datuk Seri Anwar Ibrahim stated that people fell into bankruptcy due to various factors, including recklessness, business mistakes, a slow economy, and the Covid-19 pandemic. Meanwhile, Azalina said that from 2021 to May this year, a total of 25,578 individuals were declared bankrupt. Of the total, 70 were individuals aged below 25 years old; 25 to 34 year-old (3,725 individuals); 35 to 44 year-old (10,145 individuals); 45 to 54 year-old (7,256 individuals); 55 years old and above (4,222 individuals), and 160 individuals had no information recorded. Over the same period, men recorded the highest number of bankruptcies with 18,590 individuals, while women at 6,903 individuals and 85 individuals had no information recorded. Earlier in her speech, Azalina said the Madani government continuously strives to enhance the level of financial literacy among Malaysians to build financial resilience and ensure the wellbeing of the people in the future. "This is in line with the principle of ensuring human wellbeing under the strategic pillars of Malaysia Madani. "Therefore, this literacy programme that we are holding today is one of the proactive steps taken by the government to bring laws and knowledge related to financial management and literacy to the people, especially students in institutions of higher learning who are about to enter the workforce and the real world. "Strong financial literacy is crucial to prevent today's youth from falling into serious debt." Azalina added that, according to the records from the department, the majority of current bankruptcy cases involve young people. "We are concerned that if the younger generation, who are the future of the nation, face serious debt issues and eventually fall into bankruptcy, it will be detrimental to the country." Present at the event were the Insolvency Department deputy director Azwarnida Affandi and Universiti Teknologi Mara vice-chancellor Professor Datuk Dr Shahrin Sahib. Ends
The Star
33 minutes ago
- The Star
High Court stays freeze order on Na'imah's assets
KUALA LUMPUR: The High Court here has granted a stay on an ex-parte forfeiture order obtained by the Malaysian Anti-Corruption Commission (MACC) earlier this month in its bid to freeze £132mil (RM758.2mil) worth of assets in London belonging to Toh Puan Na'imah Khalid and her family. Justice Azhar Abdul Hamid said the order was stayed pending an application by Na'imah, who is seeking to intervene in the MACC's notice of motion. ALSO READ: Daim's widow to challenge London asset freeze order "This application (to be an intervener) should be heard inter parte. "The application should be filed and served within 14 days. At the same time, the order dated June 3 is stayed," Justice Azhar said on Monday (June 23). The court fixed July 9 to hear the application to intervene. On June 3, the same court had granted the MACC an order to freeze the assets in London belonging to Na'imah, who is the wife of the late former finance minister Tun Daim Zainuddin. The assets include two commercial buildings, five luxury residences and one bank account. ALSO READ: Dismissal of Na'imah's application a miscarriage of justice, court told According to the MACC, investigations indicated that the assets were linked to suspected offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001. It said the freeze was part of ongoing efforts to trace and recover assets believed to be connected to unlawful activity. At a separate High Court, Justice K. Muniandy fixed Aug 1 to hear Na'imah's application to intervene in another ex-parte notice of motion filed by the MACC. The MACC had sought to obtain an ex-parte court order under Section 53 of the AMLATFPUAA to forfeit more than RM544mil in US dollars and pound sterling. ALSO READ: Lawyers for Daim's widow to challenge MACC's seizure of Ilham Tower in court DPP Wan Nur Iman Wan Ahmad Afzal told the court that the monies, which were investments locked in 12 bank accounts in Singapore, belonged to Na'imah, her family and her associates. "An investigation has been carried out by the Inland Revenue Board (LHDN). Based on preliminary investigation, we believe the assets owned by Na'imah and her associates had never been declared (to the LHDN). "We say that the assets must be frozen before (they are) disposed of," she said in her oral application. Meanwhile, Na'imah's lawyer Datuk Dr Gurdial Singh Nijar said he was "perplexed and disappointed" over the application as the MACC had never mention any respondent's name in its filing. "The order isn't just against the property but also against the person. This application cannot proceed as an ex parte. It has to proceed as an inter parte. I seek that this court make no order (on the freeze) until an inter parte application is heard," he said. Justice Muniandy then ruled that the application to intervene would be heard inter parte and fixed Aug 1 for hearing.
New Straits Times
37 minutes ago
- New Straits Times
HSS Engineers secures US$2.4mil design consultancy deal in India
KUALA LUMPUR: HSS Engineers Bhd (HEB) has secured a US$2.35 million (about RM10.05 million) contract for a container terminal development project in Tuna Tekra, India. The contract was awarded to its wholly owned subsidiary, HSS Engineering Sdn Bhd (HSSE), the group said in a filing with Bursa Malaysia today. Under the deal, HSSE will provide building information modelling (BIM) and engineering design consultancy services for the project. HEB said the letter of appointment was awarded by Ocean Lifespaces India Pvt Ltd for Package 2 of the design and build phase of the Hindustan Gateway Container Terminal Kandla Private Ltd project. The consultancy services are scheduled to start on June 16 and will span 28 months. Under the scope of work, HSSE will deliver preliminary and detailed engineering designs, supplementary BIM services and post-construction deliverables. The professional fees are milestone-based, with 30 per cent already received and the remaining 70 per cent to be paid progressively upon achieving specified project milestones. HEB said the project would be carried out in exclusive collaboration with HSS Integrated Sdn Bhd, an associate company, in line with their teaming arrangement. "(This project) represents a significant milestone for the group and aligns with its overarching growth strategy, including geographical expansion into India while complementing our core expertise in the transportation sector," it said. The group expects the project to contribute positively to its revenue and earnings from the financial years ending Dec 31, 2025, to Dec 31, 2027. It will be funded through a combination of internal funds and external borrowings.
