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China’s rising tech star seen ‘half dead’ after US ban

SHENZHEN, April 18 — ZTE Corp. may have just gone from being a serious contender in the high-stakes world of next-generation networking to — quite possibly — a mobile industry washout. China’s No. 2 telecommunications gear-maker was…


IMF says global smartphone boom has reached peak

WASHINGTON, April 18 — The global smartphone boom that’s helped propel Asia’s economic growth and reshape trade channels in recent years may have peaked. That’s one of the observations tucked into the International Monetary Fund’s…


US strike on China’s ZTE another blow for Qualcomm

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SHANGHAI/BEIJING (April 17): A move by the United States to ban American firms selling components to the Chinese telecom equipment maker ZTE Corp will also hit a target closer to home: Qualcomm Inc, a US company that is a major supplier of chips for ZTE’s phones. The US Department of Commerce slapped a seven-year ban on sales to ZTE on Monday for breaking terms of an agreement reached last year after it was caught illegally shipping goods to Iran. Caught in the crossfire is Qualcomm, whose products account for theRead More


Stocks in Focus (17-04-2018)

KUALA LUMPUR (Mar 26): Based on corporate announcements and news flow today, stocks in focus for Tuesday (Apr 17) may include the following IHH Healthcare…


Kelington bags RM77.5m worth of new contracts in 1Q

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KUALA LUMPUR (Apr 16): Integrated engineering solutions provider Kelington Group Bhd has secured new orders worth RM77.5 million in the first quarter of 2018 (1Q18), bringing the group’s total outstanding orderbook to RM267.3 millon. “We are also bidding for new projects worth RM500 million across our key operating markets,” Kelington chief executive officer Raymond Gan said in a statement today. Kelington said the bulk or 85% of the new orders came from the ultra high purity segment, for the company to provide specialised engineering services for the semiconductor and electronicRead More


Qualcomm to refile China antitrust application for US$44b NXP takeover, sources say

BEIJING, April 16 ― US chipmaker Qualcomm will refile as early as today an application with the Chinese government to clear its US$44 billion (RM3.69 trillion) takeover of NXP Semiconductors, sources said, giving regulators more time to decide…


Mi Equipment offering 152.9 million shares in IPO

PETALING JAYA: Mi Equipment Holdings Bhd has received the Securities Commission of Malaysia’s (SC) approval for its initial public offering (IPO) on the Main Market of Bursa Malaysia.

Mi Equipment, slated to be the first new listing on the Main Market this year, is a manufacturer of wafer-level chip scale package sorting machines for the semiconductor industry.

“The approval is a significant step towards materialising our growth plans and it is a milestone accomplishment, in accordance with the route map set up during our company’s incorporation,” its CEO and executive director Oh Kuang Eng said in a statement.

“The IPO will provide us with the financial impetus needed to achieve our growth strategies, which is vital for us to stay competitive in a dynamic business environment that encompasses an ever-increasing demand for high performance semiconductor manufacturing technologies,” he added.

The IPO comprises 152.9 million shares wherein 60.4 million shares will be offered via private placement to identified investors, 50 million shares to bumiputra investors approved by the Ministry of International Trade and Industry, 25 million shares to the Malaysian public and the remaining 17.5 million shares to eligible directors, employees and business associates.

The proceeds will be used for the construction of two production facilities cum offices in Bayan Lepas and Batu Kawan, Penang, working capital, and research and development.

Oh said the group plans to expand its capacity with the construction of the two factories in the next three years.

For the last three financial years, he said, the majority of the group’s revenue was derived outside of Malaysia.

Affin Hwang Investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent for Mi Equipment’s IPO.


US/China trade threats likely to slow global growth

LONDON: Trade tensions between the United States and China are likely to have an adverse impact on global growth even if the threatened tariffs are never imposed. Conflict between the world’s two largest economies is creating significant uncertainty for businesses that threatens their global supply chains and future investment plans. Senior US officials have emphasised […]


Trump praises China’s Xi’s trade speech, easing tariff tensions

WASHINGTON, April 11 — US President Donald Trump praised Xi Jinping’s “kind words” on trade after the Chinese leader reaffirmed pledges to open his nation’s banking and manufacturing sectors — signalling an effort to defuse a…


MIDA says approved RM9.7b E&E investments last year

KUALA LUMPUR, April 10 — Malaysia recorded 109 electrical and electronics (E&E) sector projects with a total approved investment value of RM9.7 billion in 2017, according to the Malaysian Investment Development Authority (MIDA). MIDA deputy…