KUALA LUMPUR (May 26): Fresh from turning around its newly acquired oleochemicals business, Mega First Corp Bhd (MFCB) has further expanded its exposure in the booming semiconductor space, following its acquisition of a 28.83% stake in Integrated Smart Technology Sdn Bhd (IST) for RM5.56 million. This is not the first electrical and electronic (E&E) venture by MFCB, which also holds a 100% stake in Bloxwich (Malaysia) Sdn Bhd. MFCB is also a sister company to LED manufacturer D&O Green Technologies Sdn Bhd, by virtue of having the Goh family as a major shareholder. The latest venture came after MFCB announced a faster-than-expected turnaround of its oleochemicals business that is held through 50%-owned Edenor Technology Sdn Bhd, which it invested in in 2021. On core businessesMFCB is also involved in the sale of hydro and solar energy, as well as packaging.

Source: The Edge Markets May 27, 2022 00:36 UTC