KEY ASIC BAGS US$5.25 MLN IP, TECHNOLOGIES CONTRACT
KUALA LUMPUR, Jan 25 -- Key Asic Bhd's wholly-owned subsidiary, Key Asic Semiconductor Ltd, has inked an intellectual property (IP) and technologies contract worth US$5.25 million (about RM21.22 million) with Singapore’s Canvas Technology Pte Ltd for a wafer fabrication (fab) project.
In a statement today, Key Asic said the project is planned to have multiple parts and subsequent contracts are expected to follow in the near future.
Its chairman and chief executive officer Eg Kah Yee said the steep growth in new wafer fab projects in the past two years has created strong demand for technologies and system-on-chip platform-based IP.
“With the rapid development of Internet of Things (IoT) and artificial intelligence, coupled with a severe shortage of chips and capacity across the board, the demand for technologies and design IPs will continue to grow,” he said.
Key Asic, an IoT chips and system designer and manufacturer is listed on the mainboard of Bursa Malaysia. Its customers are largely in the United States, Europe and Asia.
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