Taiwan semiconductor firm wants to turn MQTECH 0070 MQ TECHNOLOGY BERHAD into "emerging giant"

 Taiwan semiconductor firm wants to turn  MQTECH 0070 MQ TECHNOLOGY BERHAD into "emerging giant"

MQTech said Taiwan Superconductor had offered to buy up to 30 per cent stake in the company via participation in a forthcoming corporate exercise.

KUALA LUMPUR: Taiwan Superconductor International Semiconductor Technology Co Ltd is keen to turn MQ Technology Bhd into an emerging semiconductor giant.

MQTech said Taiwan Superconductor had offered to buy up to 30 per cent stake in the company via participation in a forthcoming corporate exercise.

"The type of corporate exercise and quantum of Taiwan Superconductor's investment sum shall be negotiated and agreed upon by both parties. With the proceeds from the corporate exercise, Taiwan Superconductor will assist and provide technical know-how to MQTech to expand its semiconductor operation in Malaysia," MQTech said in a statement on Friday.

Taiwan Superconductor chief executive officer Professor Liu Chien-Lung said it had chosen to invest in MQTech as the latter was currently the smallest semiconductor company listed in Malaysia.

"(MQTech is) most accommodative as compared to the larger players such as Coraza, SFPTEch and Cnergenz. It will be interesting to see how we grow MQTech into a semiconductor giant in the next few years," Liu said in the statement.

"We want MQTech to turn into a key world market materials supplier and focus on third generation semiconductors, while establishing a vertically integrated industry chain, and develop fourth generation semiconductors," he added.

Liu will be flying in from Taiwan and has made an appointment to finalise the proposed deal with the directors of MQTech on Sept 20-21 this year.

MQTech managing director Tong Sian Shyen said with the commitment and support of fresh capital plus semiconductor technology transfer from the Taiwanese semiconductor player, MQTech would be able to grow a lot faster than previously.

"In fact, we announced yesterday a modest profit of RM1.3 million for the quarter ended June 30 2022," Tong added.

If the stake sales materialised, Taiwan Superconductor will help MQTech expand its semiconductor plant under three phases.

Phase One will take about one to three years, with the required workforce of 200. Overall, the expansion will need up to 500 for the three phases.

https://www.nst.com.my/business/2022/08/826520/taiwan-semiconductor-firm-wants-turn-mqtech-emerging-giant