KUALA LUMPUR, Malaysian Pacific Industries Bhd (MPI) has announced plans to acquire Infineon Technologies (Thailand) Ltd for US$77.95 million (RM327.56 million), a move aimed at strengthening its partnership with Infineon Technologies AG while boosting its semiconductor assembly and testing capacity.
According to MPI’s filing with Bursa Malaysia, the deal involves purchasing Infineon’s back-end manufacturing site in Nonthaburi, Thailand, from its subsidiaries — Spansion LLC, Spansion Inc, and Cypress Semiconductor Corp.
The group said the acquisition will allow it to expand collaboration with Infineon, its major customer, noting that Europe and Asia currently account for about 80% of its sales.
The purchase will be financed via a combination of internal funds and borrowings, with details to be determined later. However, the deal excludes certain employees of Infineon Thailand, who will not be part of the transfer.
Completion of the acquisition is subject to approval from Bank Negara Malaysia for the US dollar payment, while shareholder approval is not required. Before the transaction can be finalised, specific equipment and employees of Infineon Thailand must be transferred back to the sellers. MPI has until June 30, 2026, to complete the deal.
For its financial year ended June 30, 2025, MPI posted a 6.45% drop in net profit to RM153.78 million, largely due to the absence of a one-off reversal recorded the previous year. Revenue, however, edged higher to RM2.13 billion. As of June 30, the group maintained a net cash position, with RM467.81 million in cash and RM104.03 million in borrowings.
On Thursday, MPI’s shares ended almost unchanged at RM28.54, giving the company a market capitalisation of RM5.69 billion. The stock has gained 10.19% year-to-date.
