PETALING JAYA: Mi Technovation Bhd is considering the pursuit of a separate listing of its semiconductor material business unit subsidiaries on the Singapore Exchange (SGX).
In a filing with Bursa Malaysia, the semiconductor firm said the proposed listing will enable the semiconductor material business unit to gain recognition and corporate stature through having its own listing status and further enhance its corporate reputation, which will assist in the expansion of its customer base.
“The proposed listing will enhance efficiency by way of promoting a clearer segregation of business responsibilities and operations for Mi’s business units (that is, between its semiconductor equipment business unit and semiconductor material business unit), thereby enabling the respective management team to focus on opportunities specific to each of the business units.”
The company said the proposed Listing is also subject to approvals of the relevant authorities in Singapore and Malaysia; the shareholders of the company at an extraordinary general meeting to be convened; and any other relevant authorities and/or parties, if required.