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The Sun
a day ago
- Business
- The Sun
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.
BusinessToday
29-05-2025
- Business
- BusinessToday
SunCon Secures RM1.15 Billion Data Centre Contracts From US Multinational
Sunway Construction Group Berhad announce that its wholly-owned subsidiary has accepted Works Orders from a multinational technology company headquartered in the United States for the provision of General Contractor works for two data centre projects totaling RM1.155 billion. The Group expects these projects to contribute positively to the Group's earnings for the current and subsequent financial years, with completion targeted for the first quarter of 2027. Sunway Construction has secured RM3.5 billion worth of new orders to date, accounting for more than half of its 2025 order book replenishment target range of RM4.5 billion to RM6.0 billion. As a result, its total outstanding order book has risen to RM7.9 billion. Related
Borneo Post
28-05-2025
- Business
- Borneo Post
Sarawak allocates RM13.5 bln to Regional Development Agencies for 1,571 projects
Uggah says that as of April 2025, 82 projects or nine per cent had been completed and that the remaining 819 projects or 91 per cent were in various stages of implementation. – Ukas photo KUCHING (May 28): Sarawak has provided an allocation of RM13.5 billion to all nine Regional Development Agencies in the state with each agency receiving an allocation of RM1.5 billion, said Deputy Premier Datuk Amar Douglas Uggah Embas. The State Minister of Finance and New Economy II said of the RM13.5 billion, RM7.5 billion was allocated under Sarawak's annual budget to finance the implementation of 901 development projects under the supervision of the five Regional Development Agencies. 'Among them are the Sri Aman Development Agency (SADA), Betong Division Development Agency (BDDA), Rajang Delta Development Agency (RADDA), Greater Kuching Development Coordinated Agency (GKCDA), and Mid Rajang Regional Development Agency (MiRRDA). 'Of the total, 894 projects are physical projects, while seven are non-physical projects,' he added when delivering his winding-up speech for the ministry at the State Legislative Assembly sitting, today. He said that as of April 2025, 82 projects or nine per cent had been completed and that the remaining 819 projects or 91 per cent were in various stages of implementation. In addition, he also said RM6.0 billion has been allocated under Alternative Financing for projects under the supervision of regional development agencies. 'These include the Northern Regional Development Agency (NRDA), the Highland Development Agency (HDA), the Upper Rajang Development Agency (URDA), and the Integrated Samarahan Regional Development Agency (IRSDA). 'To date, a total of RM3.19 billion has been spent with 601 projects completed,' he said. Uggah said Sarawak had established various Regional Development Agencies to bridge the development gap between urban and rural areas and accelerate infrastructure development throughout Sarawak. The initiative, he said, was implemented through a bottom-up approach in project planning and implementation. Regarding the performance of project implementation under Alternative Financing, Uggah said that this year the Sarawak Government had allocated a total of RM8.12 billion for the implementation of 1,571 projects. 'As of April 2025, a total of RM1.11 billion or 14 per cent of the total allocation has been spent,' he said. He said that of the total, 1,514 projects were categorised as physical projects while 57 projects were non-physical. 'To date, 974 projects or 61 per cent have been completed, while the remaining 597 projects or 39 per cent are in various stages of implementation,' he said. Uggah said in total, a total of RM16.0 billion has been spent until April 2025 for the implementation of major development projects throughout Sarawak. douglas uggah DUN regional development agencies
Daily Express
10-05-2025
- Business
- Daily Express
Construction sector hits RM42.9 billion
Published on: Saturday, May 10, 2025 Published on: Sat, May 10, 2025 By: Bernama Text Size: Mohd Uzir further explained that of the RM42.9 billion in work done, RM15.7 billion came from the civil engineering sub-sector, mainly driven by roads and railways (RM7.9 billion) and utility projects (RM6.0 billion). - Pic for illustration only. Kuala Lumpur: Malaysia's construction sector recorded a 16.6 per cent year-on-year (y-o-y) increase in the value of work done to RM42.9 billion in the first quarter of 2025 (1Q 2025), according to the Department of Statistics Malaysia (DOSM). In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the sector maintained its upward momentum, albeit at a more moderate pace compared to the 23.1 per cent growth registered in the previous quarter. 'The performance was mainly driven by continued expansion in the special trade activities and residential buildings sub-sectors, which posted double-digit growth of 35.5 per cent and 27.0 per cent, respectively. 'The non-residential buildings sub-sector showed an increase of 21.0 per cent, while the civil engineering sub-sector remained positive with marginal growth of 3.7 per cent,' he said. Mohd Uzir further explained that of the RM42.9 billion in work done, RM15.7 billion came from the civil engineering sub-sector, mainly driven by roads and railways (RM7.9 billion) and utility projects (RM6.0 billion). Meanwhile, the value of work done for non-residential buildings and residential buildings stood at RM12.3 billion (28.8 per cent) and RM9.9 billion (23.0 per cent), respectively. 'Special trade activities contributed RM5.0 billion (11.6 per cent), with major contributions from site preparation (RM1.3 billion), electrical installation (RM1.2 billion), and plumbing, heating, and air-conditioning installation (RM1.1 billion),' he said. Elaborating on the construction sector, Mohd Uzir said the private sector remained the main driver of growth this quarter, with an increase of 23.7 per cent, supported by special trade activities (40.9 per cent) and residential buildings (26.5 per cent). 'The value of work done by the private sector amounted to RM27.0 billion, or 62.9 per cent of the total construction work done value, he noted. In contrast, Mohd Uzir said the public sector contributed RM15.9 billion, or 37.1 per cent of the total work done, with a growth of 6.3 per cent (compared to 8.8 per cent in Q4 2024). 'The growth was driven by the residential buildings (34.8 per cent) and special trade activities (24.5 per cent) sub-sectors, contributing RM0.7 billion and RM1.5 billion, respectively,' he said. On a state-by-state basis, he added that nearly two-thirds of construction activity was concentrated in Selangor, Johor, Wilayah Persekutuan (Kuala Lumpur, Putrajaya, and Labuan), and Sarawak. Selangor topped the list with RM11.1 billion (25.9 per cent) in construction work, followed by Johor with RM7.7 billion (18.0 per cent), Wilayah Persekutuan at RM4.5 billion (10.6 per cent), and Sarawak with RM3.9 billion (9.0 per cent). * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
BusinessToday
02-05-2025
- Business
- BusinessToday
Capital A's Auditors Flag Material Uncertainty Over Going Concern
Capital A Berhad has announced that its external auditors, Ernst & Young have issued an unqualified audit opinion on the company's audited consolidated financial statements for the financial year ended 31 December 2024. However, this opinion includes a 'material uncertainty related to going concern' paragraph. This disclosure, made pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, highlights significant doubt regarding the Group's and the Company's ability to continue as a going concern. The material uncertainty stems from the fact that, as of the date of the audit report, key milestones related to the company's Proposed Disposals remain incomplete. These include obtaining necessary approvals from government entities, financiers/lenders, and third parties for both Capital A and AirAsia X Berhad (AAX). Additionally, AAX has yet to raise RM1.0 billion as part of these disposals. Capital A had previously announced a Proposed Regularisation Plan on 24 October 2024, involving a proposed reduction of its issued share capital of up to RM6.0 billion. This plan received approval from Bursa Securities on 7 March 2025. A circular to shareholders and notice to holders of redeemable convertible unsecured Islamic debt securities (RCUIDS) concerning the plan was issued on 15 April 2025. Extraordinary general meetings to seek shareholder and RCUIDS holder approval are scheduled for 7 May 2025. The company stated that the material uncertainty highlighted by the auditors is linked to the ongoing implementation of both the Proposed Disposals and the Proposed Regularisation Plan. Capital A anticipates that the concerns leading to the 'material uncertainty related to going concern' paragraph will be resolved upon the fulfillment of the remaining conditions precedent for the Proposed Disposals, which are expected to be completed by the second quarter of 2025, barring any unforeseen circumstances. Related
