AKN Technology to lure investors through JP Morgan conference

AKN Technology Bhd aims to increase the investments from foreign fund managers in the group by participating in the annual JP Morgan Technology & Telecom Conference in San Fran-cisco early next month. 

According to AKN group executive director B. L. Ooi, foreign interest in AKN Technology has increased significantly during the past six months as the KLSE main board company embarks on its plans to climb up the technology chain. 

“Foreign shareholding in AKN Technology now stands at 9.232% compared with 0.5% last year,” Ooi told StarBiz in Penang. 

He said that through the JP Morgan conference, the company hoped to draw the attention of foreign fund managers to AKN Technology's new acquisitions and activities. 

According to Ooi, AKN Tech-nology was the only company from Malaysia invited to give a talk at the conference. 

“This is the first time that we have been invited to give a talk at the conference. I will be presenting a paper titled East Meets West To Bring Cutting Edge Technology To Market,” he said. 

Ooi said that the paper would look at AKN Technology's acquisition of Nanochip Inc and its recent proposed acquisition of MEMS Technology Sdn Bhd (Memstech). 

“The paper is basically an introduction to the nanochip technology and micro-electro mechanical systems (MEMS) and why AKN Technology acquired them,” he said. 

AKN Technology group executive chairman Datuk Ahmad Ka-beer Nagoor will represent AKN Technology at the conference. Memstech CEO K. Sooriakumar and Nanochip Inc CEO Dr Gordon Knight will also be present. 

According to Ooi, nanochip is the next generation of removable data storage chips as it has large information storage capacity. 

The nanochip technology could also be produced cost effectively compared to flash memory chip. 

“The nanochip focuses on the portable computing, cell phones, digital and video cameras, and MP-3 markets,” he said. 

According to Ooi, MEMS chips allows micro-systems to sense and control any type of environment. 

He said the MEMS chips were becoming increasingly popular in automotive equipments, inkjet print heads, microwave ovens, ear thermometer, MP-3 players, digital cameras, hard disk drives, suspension systems, tyres, and fuel tanks. 

“It is estimated that automotive electronic control systems require at least 40 million units of MEMs chip annually,” he said.  

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