Key Asic among most active stocks after securing water fab project in Singapore

KUALA LUMPUR,. Key Asic Bhd was among the most active stocks on Bursa Malaysia in the early session today as it announced its plan to secure an intellectual property (IP) and technologies contract worth US$5.25 million (about RM21.22 million).

As at 9.43 am, the counter rose 1.0 sen to 10 sen, with 71.95 million shares changing hands.

The wafer fabrication (fab) project, awarded by Singapore’s Canvas Technology Pte Ltd was secured through Key Asic’s wholly-owned subsidiary, Key Asic Semiconductor Ltd.

In a statement Monday, Key Asic said the project will have multiple parts and subsequent contracts are expected to follow in the near future.

Key Asic chairman and chief executive officer Eg Kah Yee said the steep growth in new wafer fab projects in the past two years has created strong demand for technologies and system-on-chip platform-based IP.

— BERNAMA