KUALA LUMPUR: JF Technology Bhd (JFT), via its wholly-owned subsidiary, JF International Sdn Bhd (JFI), signed a joint venture agreement (JVA) with HFC Industry HK Ltd (HFCI), a subsidiary of Shenzhen HFC Co Ltd (SHFC), to incorporate HFC Tech Sdn Bhd (HTSB), a joint venture company in Malaysia.
The joint-venture company's principal activities include designing and manufacturing electromagnetic interference (EMI) shielding materials, thermal interface materials and absorbing materials.
SHFC specialises in integrated research and development (R&D), manufacturing and sale of EMI shielding materials, thermal interface materials, wave-absorbing materials and ferrites.
It presently serves a diverse range of industries and applications, including artificial intelligence (AI), semiconductors, smartphones, electric vehicles (EV), telecommunications and electronics manufacturing services (EMS).
JFT managing director Datuk Foong Wei Kuong said this collaboration creates strong synergies as the company can leverage each other's expertise, capabilities, and network to scale its business further.
"Our new facility in Kota Damansara has ample space to facilitate the establishment of a modern manufacturing and design hub for our joint venture.
"Together, we will be producing various cutting-edge products such as EMI shielding materials and thermal interface materials, which are currently used in various applications, including semiconductor chips for AI and EV," he said in a statement.
Headquartered in Shenzhen, China, SHFC strongly emphasises research and development (R&D) and owns more than 140 patents.
It has four R&D centres in Chongqing, Wuhan, Zhejiang and Shenzhen, supported by a highly qualified R&D team of 60 professionals.
"The joint venture aligns seamlessly with our strategic objectives. For JFT, this is part of our JF 4.0 transformation to become a comprehensive one-stop solution provider.
"Hence, this partnership promises to catalyse innovation and further fortify our respective competitive advantages," Foong said.
Under the JVA, HFCI will invest RM3.2 million in HTSB for an 80 per cent ownership, while JFI will contribute RM0.8 million for the remaining 20 per cent stake.
Therefore, the registered capital of HTSB will be RM4.0 million, which willbe utilised for operational needs.