Mi Technovation Bhd is preparing to list its semiconductor materials business on the Singapore Exchange (SGX), a strategic move that underscores the growing appetite for specialized supply-chain assets in the AI-driven semiconductor boom.
The Bursa-listed advanced manufacturing packager intends to bolster its Singapore operations by hiring 40 new employees to support research and development efforts, signaling a deepening commitment to the region’s high-tech ecosystem.
The company reported a sharp acceleration in profitability for the second quarter ended June 30, 2026, with net profit more than tripling to RM55.
The decision to spin off the materials arm comes as semiconductor manufacturers have seen valuations surge in the first half of 2026, with some shares tripling as investors aggressively target companies integral to artificial intelligence infrastructure.
This repricing reflects a broader market shift where capital is flowing into firms that provide critical materials and packaging solutions, rather than just chip design or fabrication.
Mi Technovation’s recent financial performance highlights the momentum behind this strategy.
The company reported a sharp acceleration in profitability for the second quarter ended June 30, 2026, with net profit more than tripling to RM55.21 million from RM15.78 million a year earlier.