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BSLCorp acquires SD Unify to expand exposure in semiconductor sector

BSL Corporation Bhd

KUALA LUMPUR, Sept 6 -- BSL Corporation Bhd (BSLCorp) has inked a memorandum of understanding (MoU) to acquire Singapore-based SD Unify Pte Ltd (SD Unify) as part of its efforts to expand its exposure in the semiconductor sector.

SD Unify is a company that operates an international procurement office (IPO) centre, connecting the overseas supply chain for semiconductor original equipment manufacturers Approved Vendor List components.

“This is complemented by SD Unify’s ‘One Stop Solution’ concept for the manufacturing, sourcing and supplying of electro-mechanical products for semiconductor producers,” said BSL Corp in a statement today.

Executive director Brian Hoo Wai Keong said the move is part of the company’s revitalisation strategy, adding that the BSL Corp is involved in contract manufacturing with exposure in the electrical and electronics, solar farm and renewable energy and to a smaller extent, semiconductor sectors.

“The semiconductor segment will form a new pillar of growth for BSLCorp and complement its current operations as the group transitions to an electronic manufacturing services (EMS) company,” he said.

Hoo said the MoU is for a period of three months and both parties were expected to sign a definitive agreement within that period.

He added that the proposed acquisition is expected to dovetail with BSLCorp’s recent announcement of a proposed private placement exercise to enhance and expand its existing semiconductor manufacturing capacity.

Hoo said the proposed corporate exercise entails the issuance of up to 30 per cent new shares based on the company’s enlarged share capital base after a share split.

The share split involves a subdivision of every existing share into two shares.

“The estimated funds to be raised from the private placement is RM30 million -- based on the current share price -- of which RM24 million will be allocated for the enhancement and expansion exercise,” he said.

According to the statement, the company has embarked on an enhancement and expansion exercise which would see the expansion of production facilities gross floor area, as well as the reconfiguration of the existing productions lines and additional capital expenditure to upgrade and install new production lines.

At 12.10 pm, BSLCorp’s share price rose by 16 sen to RM1.37.

-- BERNAMA

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