KUALA LUMPUR: JF Technology Bhd’s wholly owned unit JF International Sdn Bhd will enter a partnership with the venture capital arm of Huawei Investment & Holding Co Ltd via the latter’s subscription to shares in JFH Technology Sdn Bhd.
JFH Technology is a wholly-owned subsidiary of JF International, which is principally involved in the manufacture of technical support for integrated circuits test contacting solutions.
In a filing with Bursa Malaysia, JF Technology said Hubble Technology Investment Co Ltd (HTI) will inject a total of US$1.5mil in JFH Technology, which will fortify the group’s relationship with the Chinese firm as a key customer and strategic partner, as well as gain market access into China.
Of HTI’s contribution, US$410,000 will be credited to the increased registered capital of JFH while the remaining US$1.09mil will be credited to its capital reserve. Post-exercise, the registered capital of JFH Technology will increase from US$500,000 to US$910,000.