KUALA LUMPUR: Globetronics Technology Bhd (GTB), an established player in the outsourced semiconductor assembly and testing (OSAT) and semiconductor industry, today reassured stakeholders that the recent change in shareholder structure will not impact the group's dedication to operational continuity and shareholder value.
On Monday, APB Resources Bhd acquired a 10.41 per cent interest in GTB for RM140.0 million, a move which made it the group's second largest shareholder in GTB.
GTB's share price was down 4.65 per cent today to close at RM1.64 a share.
In a statement today, the group welcomed APB Resources' entry into the company.
This includes the transfer of 46.3 million shares from General Produce Agency Sdn Bhd and 23.7 million shares from Ng Kweng Chong Holdings Sendirian Bhd.
"As we embrace this new chapter in our corporate journey, our operations remain steadfast. The change in major shareholders is not expected to substantially impact our daily activities. We are focused on strengthening our existing business platform while strategically diversifying our customer base to exciting new growth areas such as automotive, medical and power devices in delivering healthy growth and consistent performance with our new strategic partner," GTB said in the statement.
Being a key player in the OSAT and semiconductor sector, GTB is well-positioned within the expanding Malaysian E&E market. In line with this, GTB is actively exploring potential areas in advanced packaging to anchor the group's business base.
Committed to growth and diversification, the group is engaging in the design and development of new products alongside customers, aiming to enhance revenue and move up the value chain.
This approach is part of GTB's strategy to mitigate risks and sustain business growth.
The IMR Report suggests electric and electronics (E&E) exports from Malaysia reaching RM629.10 billion in 2023 and growing at a compounded annual growth rate of 7.9 per cent, potentially hitting RM867.83 billion by 2027.
This projected growth highlights the group's significant potential for expansion and enhanced shareholder value.