JF Technology Anticipates Good Prospects For 2016 On Robust Demand Globally

KUALA LUMPUR, April 27 (Bernama) -- JF Technology Bhd, an ACE-listed company on Bursa Malaysia (Malaysia's Stock Exchange), anticipates good prospects for 2016 following robust demand for its products across international markets. As a home-grown company and major exporter of test contacting solutions, JF Technology is looking to expand its business in North America, the European Union, and in ASEAN countries such as Singapore and the Philippines. Chairman, Foong Wei Kuong said aided by its current export market which constitutes 70 per cent of its sales, JF Technology also plans to expand its footprint in Japan and emerging market, China. "As we enter the global market, growth is expected to materialise not only by organic growth of the industry, but also in seizing market share from competitors," he said in a statement. Headquartered in Kota Damansara, Selangor, JF Technology has evolved from an original equipment manufacturer to an original design manufacturer of five major products with ISO 9001:2008 certification, moving up to ISO 9001:2015. To date, it has invested over US$1.53 million (RM6 million) in the business, which involved supporting the global semi-conductor industry by engineering high performance test contacting solutions to validate Integrated Circuit devices that are used in smartphones, automotive, Internet of Things and electronic wearables, among others. According to Foong, the company see major advantages as a designer, manufacturer and supplier to these sunrise industries. "With our technological innovations that are protected by patents, a sustainable business that allows us to be resilient, and recurring sales from multinational customers, we are well-positioned to achieve double-digit growth in revenue and profit by end-2016," he said. The company was reported as saying that it intends to move into the main market within three years. With RM14 million in capital expenditure set aside for the next 10 years, it also aims to expand its manufacturing facility in the next four years. -- BERNAMA