Computime Group, an Internet of Things (IoT) specialist operating in the electronics industry, has acquired the Penang-based manufacturing facilities of Rubicon Sapphire Technology in a deal worth approximately HK$39 million.
Headquartered in Hong Kong, Computime is an expert in the design and manufacturing of IoT solutions in the electronics manufacturing services space, offering customised products across Asia, Europe and North America.
The facility includes a parcel of a 60-year-old leasehold land of 12,383 m2 in Pulau Pinang, Malaysia with an unexpired term of roughly 51 years expiring on 15 March 2071. This is alongside all the buildings "erected thereon" with a total gross area of approximately 6967.67 m2.
“After completing the acquisition, the group intends to utilise the manufacturing facilities for the development of its own manufacturing and supply chain capabilities in Malaysia,” said Dr. King Owyang, CEO of Computime.
Going forward, Dr Owyang said the “diversification” of the manufacturing site represents part of the strategic direction of the group through enhancing market competitiveness.
“This arrangement provides the flexibility for more customisation and optimiasation that will benefit both the up-coming needs of our customers and Computime,” Dr Owyang added. “ASEAN countries like Malaysia have many advantages to offer, and Penang is especially attractive to Computime.
“Penang was chosen because it has a long electronics manufacturing history, a good technical foundation, an availability in human resources, a close proximity to Hong Kong, and appropriate language skills that are important criteria which match the needs of Computime, including speed to bring up operations and production of the factory and a long term sustainability of future growth of the Penang site.”
Dr Owyang said plans are now in place to have the factory ready for operations in a “relatively short time” period.