JF TECH, CHINESE SMARTPHONE GIANT TO DEVELOP TECHNOLOGY FOR 5G, 6G NETWORK

KUALA LUMPUR, Oct 26  -- JF Technology Bhd's (JF Tech) unit, JF International Sdn Bhd has entered into a capital increase and shareholders’ agreements with Hubble Technology Investment Co Ltd (HTI), and JFH Technology (Kunshan) Co Ltd. (JFH Technology) for JF Tech to gain market access into China in the development of 5G and 6G network.

In a filing with Bursa Malaysia, JF Tech said the proposed business collaboration enables JF Group to establish a long-term synergistic business partnership with HTI, a wholly-owned subsidiary of Huawei Investment & Holding Co Ltd.

Under the agreement, JFH Technology will manufacture and supply high performance test contactors to HTI and other customers in China. 

“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.

“This will enable JFH Technology to move up the value chain of the semiconductor industry while developing local talents among Malaysians,” it said.

JF International will subscribe US$500,000 capital in JFH Technology by way of cash through internally generated funds.

“Pursuant to the Capital Increase Agreement, HTI shall contribute US$1.5 million or equivalent RMB in cash to JFH Technology, of which RMB that is equivalent to US$410,000 shall be credited to the increased registered capital of JFH Technology.

“The remaining RMB that is equivalent to US$1.09 million shall be credited to the capital reserve of JFH Technology,” it said.

Upon completion of the agreement, the registered capital of JFH Technology will increase from US$500,000 to US$910,000. 

-- BERNAMA