KUALA LUMPUR, 10 May 2019 – TT Vision Holdings Berhad marks a new chapter of growth as it listed on the LEAP Market of Bursa Malaysia Securities Berhad yesterday.
“We have grown to be one of the key players in the electrical and electronics (E&E) industry,” said Goon Koon Yin, the executive chairman of TT Vision Holdings Berhad.
Goon said despite semiconductor as a whole is on a downside curve now but there will be fantastic growth in the long run, thus the company aims to grow in the semiconductor manufacturing equipment industry.
“For us, we are not just in semiconductor. We also have big revenue contributions from photovoltaic and robotic businesses. Going forward, there will be multiple of technology-related industries that we can derive revenue from,” said Goon after the listing ceremony.
The IPO exercise entails a private placement of 40 million new ordinary shares and the company had successfully raised a total of RM7.2 million. The gross proceeds raised from the private placement will be utilized to expand its factory’s manufacturing facility in Bayan Lepas, Penang.
“It is now time to take TT Vision to the next level, as we aim to increase operational capacities with our expanded manufacturing facility expected to be fully commissioned by the third quarter this year,” said Goon.
Based on the issue price of 18 cents per share and the enlarged issued share capital of 383,500,000 shares, TT Vison’s market capitalisation is RM69.03 million upon listing.
TT Vision primarily involved in the inspection of optoelectronics, solar wafers and cells, discrete components and integrated circuit (IC) as well as vision guided robotic equipment.