JF Technology, a subsidiary of JF International, is entering into a partnership with the venture capital arm of Huawei Investment & Holdings Co Ltd. This partnership will be achieved through Huawei’s subscription to shares in JFH Technology.
According to TheStar report, a recent filing with Bursa Malaysia had JF Technology state that Hubble Technology Investment will inject a total of 1.5 million US Dollars in JFH Technology. This will fortify the relationship with the Chinese firms as a key customer, while also maintaining a strategic partnership and gaining access to the Chinese market as well.
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Out of the total contribution, 410,000 US Dollars will be credited to the increased registered capital of JFH while the remaining 1.09 million US Dollars will be credited to the capital reserve. Furthermore, JF International will have a 55 percent stake of its own 500,000 US Dollars capital contribution while HTI will own the remaining 45 percent.
JF Technology stated that the collaboration will allow the group to establish a long term business partnership with Hubble Technology Investment and other customers like Huawei in China. It further added that “With the opportunity for JFH Technology to work closely with HTI to develop new test contacting technology for 5G network and 6G network as well as in the future, there will be technological know how and knowledge transfer from JF Group to JFH Technology, enabling JFH Technology to move up the value chain of the semiconductor industry while developing local talents amongst Malaysians.”
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