JF Technology sets up RM40m test contacting centre of excellence in Kota Damansara - MIDA | Malaysian Investment Development Authority
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JF Technology sets up RM40m test contacting centre of excellence in Kota Damansara

JF Technology sets up RM40m test contacting centre of excellence in Kota Damansara

16 Mar 2022

JF Technology Bhd has set up its Test Contacting Centre of Excellence in Kota Damansara, Selangor with an investment of RM40 million in a bid to further expand its business and to capture immense opportunities in the semiconductor industry.

The Centre of Excellence will be established at JF Technology’s expanded facility and will house state-of-the-art labs and equipment for the development of new intellectual properties (IPs) and products to serve its customers globally.

Managing director of JF Technology Datuk Foong Wei Kuong said the centre will accelerate the generation of IPs and development of talent.

“JF Technology will continuously invest in this centre, especially in human capital development. We take pride that JF Technology operates with 99% local talent and will continue with this commitment by creating more job opportunities through the centre with the emphasis on high-income technical jobs for Malaysians.

“This, combined with the continuous development and enhancement of our country’s technological and innovation ecosystem, will continue to strengthen Malaysia’s competitive edge and move our country up the semiconductor value chain,” he said in a joint statement on Wednesday (March 16).

Foong also added that the proposed transfer of the company’s listing to the Main Market is progressing as planned. “Looking ahead, the prospects of JF Technology remain promising and the execution of our growth drivers continues to be our key focal point,” he added.

The exponential growth in the 5G market and its adoption globally including Malaysia will drive adoption across various industries. This presents enormous opportunities for the industry JF Technology operates in as every single IC needs to be tested with a customized test socket.

There will be a large spectrum of applications that can capitalise on 5G such as smartphones, internet of things, artificial intelligence, autonomous driving, smart homes and cities, and others. While JF Technology has ready solutions to capitalise on this tremendous growth, the group said it will also further develop 5G-related test solutions.

Meanwhile, Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Arham Abdul Rahman said JF Technology’s Test Contacting Centre of Excellence is meant to support 5G and electric-vehicle development, which comes at an opportune time, particularly given the current phase of 5G roll-out.

“It is anticipated that the establishment of this Test Contacting Centre of Excellence will result in the creation of approximately 77 new jobs by 2025 with around 80% of the employees coming from technical and engineering backgrounds.

“This would further solidify Malaysia’s position as a strategic investment destination for global companies, particularly in the machinery and equipment industry, in the electrical and electronics and autonomous vehicle sectors.

“In terms of adoption and production of sophisticated 5G technology-related products, commercialisation of 5G-related research and development, and transfer of new technologies in manufacturing value chains, this project has significant potential for creating a multiplier impact within [the] local domestic economy,” Arham added.

At the time of writing on Wednesday, JF Technology shares were up 5.64% to RM1.03, translating into a market capitalisation of RM954.87 million.

Source: The Edge Markets