Jf Technology Berhad

Titan Trading Notes For Tuesday [24/12/2024]:

KLCI had a slight rebound back towards the 1596 points region with an overall mixed market sentiment as we still saw over 540 counters closing red for the day. Daily trading volume also saw a dip back towards the 2.3 billion mark, which is 1 billion lesser than last Friday, not a good sign.

Main stocks that showed strong buying momentum would be the likes of WINSTAR, TOPGLOV, SUPERMX, JFTECH, GENM, CAPITALA, PBBANK, SCABLE, TANCO, GENETEC, JTGROUP, and GENTING. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$WINSTAR / 0336 (WINSTAR CAPITAL BERHAD) was definitely the star performer today as it managed to breakout all the way towards the RM 0.615 regions with huge volume and buying momentum, forming a new all time high here despite the mixed market sentiment.

So far still looking very strong here and as long as able to sustain above its RM 0.59 immediate support levels, could trend up towards and beyond its RM 0.615 all time high levels for a bullish continuation pattern.

Will be monitoring WINSTAR closely here.

$JFTECH / 0146 (JF TECHNOLOGY BERHAD) on the other hand since breaking out from its RM 0.60+ major resistance levels earlier this month, been trending upwards strongly with good volume and buying momentum.

Today, it was even able to breakout towards the RM 0.87 regions with huge volume despite the mixed market sentiment. Although faced some selling pressure which saw it retrace back towards the RM 0.82 regions, overall still looking quite bullish here.

As long as able to hold above its RM 0.79+ immediate support, could continue on this uptrend wave here. Will be monitoring JFTECH closely.

$GENETEC / 0104 (GENETEC TECHNOLOGY BERHAD) on the other hand since retracing back towards its RM 1.18 support levels last week, been able to rebound strong back towards the RM 1.24 regions today with good volume and buying momentum.

Now trading towards the end of its triangle consolidation pattern here already and if able to keep this up, could breakout from its RM 1.25 major resistance levels and trend back up towards the RM 1.34 major resistance levels soon.

Will be monitoring GENETEC closely

Titan Trading Notes For Monday [16/12/2024]:

KLCI had a slight rebound back towards the 1608 points region with an overall mixed market sentiment as we still had almost 500 counters closing red for the day during last Friday. Daily trading volume settled lower around the 2.7 billion mark.

Main stocks that showed strong buying momentum would be the likes of TOPGLOV, JFTECH, SUPERMX, ARMADA, INARI, ECA, SIMEPROP, 99SMART, AZAMJAYA, SUNWAY, YTL, and KPJ. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed sentiment.

$TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) was definitely the star of the glove scene recently. Since breaking out from its RM 1.17+ major resistance levels earlier this month, been rallying all the way towards the RM 1.40+ regions on Friday with huge volume and buying momentum here despite being overbought.

So far still not showing any sign of weaknesses yet and as long as able to hold above its RM 1.30+ immediate support on the daily chart, could continue on towards and beyond its RM 1.50+ regions soon for an uptrend continuation pattern.

Will be monitoring TOPGLOV closely here.

$JFTECH / 0146 (JF TECHNOLOGY BERHAD) recently been making headlines, since breaking out from its RM 0.60+ main downtrend resistance over the past 2 weeks, been trending up strong and even broke out towards the RM 0.80+ regions with huge volume and buying momentum here.

Looks very ripe for a brand new uptrend here and seems like something big could be brewing behind the scenes. For now as long as able to sustain above its RM 0.74 immediate support, could continue on towards and beyond its RM 0.88+ regions soon.

Will be monitoring JFTECH closely

$CORAZA / 0240 (CORAZA INTEGRATED TECHNOLOGY BERHAD) since breaking out towards the RM 0.57+ major resistance levels earlier last week, been consolidating and able to hold well above its RM 0.54+ immediate support levels on the daily chart despite the mixed market sentiment.

So far looking very strong here since breaking out from its RM 0.50+ main downtrend resistance earlier this month. As long as able to keep this up, could continue to trend up towards the RM 0.60 - RM 0.62+ regions soon in the coming weeks.

Will be monitoring CORAZA closely here

Titan Trading Notes For Thursday [5/12/2024]:

$KLCI had a decent rebound back towards the 1614 points region with an overall positive market sentiment today as most stocks started to rebound with huge volume. Daily trading volume was also able to surge back towards the 3.6 billion mark, which is a pretty good sign here.

Main stocks that showed strong buying momentum would be the likes of TOPGLOV, RL, ARMADA, CEB, SIMEPROP, YTL, 99SMART, YTLPOWR, KOSSAN, NATGATE, ECOWLD, JFTECH, PWRWELL, DIALOG, and SUPERMX. All of which were able to sustain their rallies throughout the day on the top volumes list.

$RL / 0219 (RESERVOIR LINK ENERGY BHD) was definitely one of the star performers today as it was able to breakout from its RM 0.37 major resistance, rallying all the way towards the RM 0.40 major resistance levels with huge volume and buying momentum here.

Although it was still met with some selling pressure, its closing price of RM 0.365 was still a pretty good sign here. For now as long as able to hold above its RM 0.35 - RM 0.36 immediate support, could still continue to trend back up towards the RM 0.4+ regions soon.

Will be monitoring RL closely here as something big seems to be brewing here.

$JFTECH / 0146 (JF TECHNOLOGY BERHAD) on the other hand was also one of the star performers as it managed to surge up parabolically, rallying all the way from the RM 0.56 levels towards the RM 0.71 regions with huge volume and buying momentum.

This came after its year long retracement from the RM 0.90+ regions all the way towards the RM 0.50 major support levels just earlier this week. For now looking quite strong here but could be facing its RM 0.75 major resistance levels soon.

Will be monitoring JFTECH closely here as seems to be awaken already after so long.

$YTLPOWR / 6742 (YTL POWER INTERNATIONAL BHD) since breaking out from its RM 3.65 major resistance levels yesterday, was able to sustain the buying momentum and broke out towards the RM 3.78 regions today with good volume and buying momentum.

So far still looking quite bullish here and as long as able to sustain above its RM 3.60+ immediate support on the daily chart, could continue on towards and beyond the RM 4+ major resistance levels soon for a further uptrend continuation pattern.

Will be monitoring YTLPOWR here.

KUALA LUMPUR: JF Technology Bhd and Ironwood Electronics Inc have signed a cross-distribution agreement, where JF Technology will use Ironwood’s contact assembly cartridges, and Ironwood will use JF Technology’s contact pins.

Change in Boardroom - MR LEE ENG KIAT

Change in Principal Officer - MR SIEW CHUN FAI

Change in Principal Officer - MISS WONG SIEW PHIN

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

OTHERSJF TECHNOLOGY BERHAD ("JF TECH" OR "COMPANY") - JF TECH: SEIZING OPPORTUNITIES IN RECOVERING GLOBAL SEMICONDUCTOR INDUSTRY

With Patent Restriction Over, JF Technology Set to Regain Foothold in US Market

A decade after becoming embroiled in a patent infringement lawsuit in the US, one-stop test engineering and test interface solutions provider JF Technology Bhd (KL:JFTECH) is revisiting its US market strategy now that it is no longer bound by a patent restriction.

JF Tech co-founder and managing director Datuk Foong Wei Kuong says the group is now exploring options to re-establish its business presence in the US, as American customers are actively looking for a more competitive high-performance test contacting solution.

“We were previously respecting the past legal constraints. However, the patent restrictions on Zigma expired in April, and thus, the injunction order in the US has been lifted too. In other words, Zigma is now a free bird. We will be returning to the US, but this time, in a different channel,” he tells The Edge in an interview.

After all these years, according to him, JF Tech remains confident in its solutions and knows that it continues to be one of the top-performing products for certain applications, especially for radio frequency (RF) applications.

Foong recalls that the patent infringement legal suit was initiated by JF Tech’s US competitor Johnstech International Corp in June 2014.

“While we fought the patent infringement lawsuit in the US, our product, Zigma, suffered. Many customers wanted our product, which clearly outperformed the competition. However, the lawsuit forced them to seek alternatives.

“Despite being granted the patent for Zigma in September 2015, the US jury still found us guilty. We fought all the way in court, only to be denied justice. Our conviction in the rightness of our case remains unshaken to this day,” he insists.

Foong is understandably still peeved as after the lawsuit was initiated, JF Tech’s turnover from the US market experienced a slowdown in 2015 and 2016, with the lowest point between 2017 and 2019.

“Despite strong customer demand for our product Zigma, restrictions prevented the sale. During 2017 and 2018, we successfully introduced alternative solutions like EZ. This strategy allowed us to successfully reclaim a portion of our market share,” he says.

Nevertheless, Foong states that revenue contribution from the US market declined in the past five years.

“At one point, the US market used to contribute 25% of our top line but it has dropped to below 10% in our latest full-year results. However, our strong technical and development teams are actively responding to the customer needs in the US.

With that, we anticipate bucking the trend in the next 12 months or so,” he remarks.

Foong points out that JF Tech has a culture of continuous improvement in that only solutions exceeding the highest standards reach the market.

“The past four to five years have seen significant market shifts, particularly due to the Covid-19 pandemic. Initially, a surge in work-from-home trends fuelled demand for consumer electronics. However, with a return to travel, we are seeing a rising demand for automotive parts,” he says of changing trends, which JF Tech intends to capitalise on, including in the US market.

‌“More importantly, the IP (intellectual property) for all our products belong to us; we have close to 100 patents owned by JF Tech, something that we take pride in as a Malaysian homegrown company.

‌“Plus, given the fact that we are a politically neutral country augurs well for Malaysian businesses scaling their business globally,” he adds.

‌On the US market, Foong talks of different strategies ahead. “We are actively exploring possibilities as a contract manufacturer, as well as the potential to license our solutions and monetise our IP,” he reveals.

‌Foong, 64, is the controlling shareholder of JF Tech with an equity interest of 50.7% in the company.

‌He has more than two decades of experience in the semiconductor industry, having established J Foong Technologies Sdn Bhd in 1999 with his wife Datin Wang Mei Ling to manufacture and trade electronic product components.

A check of JF Tech’s Annual Report 2023 shows that among the company’s top 30 largest shareholders are Hubble Ventures Co Ltd, Cosmos Technology International Bhd managing director Datuk Chong Toh Wee, as well as former

Malaysian Investment Development Authority (Mida) deputy director-general and philanthropist-painter Yeow Teck Chai.‌

Navigating a tricky situation
‌
In November last year, JF Tech entered into a joint-venture (JV) agreement with Shenzhen HFC Co Ltd to incorporate HFC Tech Sdn Bhd, a JV company in Malaysia, to engage in activities that include the design and manufacture of electromagnetic interference (EMI) shielding materials, thermal interface and absorbing materials.

Shenzhen HFC invested RM3.2 million in HFC Tech for 80% ownership, while JF Tech contributed RM800,000 for the remaining 20% of the JV’s registered capital of RM4 million.

Shenzhen HFC is a pioneer in the use of graphene materials for heat dissipation. This groundbreaking material is used in revolutionary artificial intelligence applications as well as the electric vehicle industry.

“Funds invested will be used for operational needs. The production is at our factory in Kota Damansara. Machinery is coming in and we target to start production in June,” says Foong.

Earlier in October 2020, JF Tech had announced plans to team up with Hubble Technology Investment Co Ltd (HTI) — a unit of its Chinese partner Huawei Investment & Holding Co Ltd — to set up a plant at Kunshan, in China’s Jiangsu province.

The plant is designing, developing and manufacturing integrated circuit test sockets and test interface solutions for the Chinese market. It is parked under JFH Technology (Kunshan) Co Ltd, in which JF Tech injected US$500,000 for a 55% stake, while Hubble injected US$1.5 million for a 45% stake. The proceeds were used to fund the acquisition of machines and operations.

“To date, we have both invested a total of US$2.5 million to US$3.5 million. Today, our Kunshan plant is doing very well. We are currently expanding our capacity to meet the rapidly increasing demand, which continues to outpace supply,” says Foong.

With JF Tech aiming to regain a bigger foothold in the American market but taking into consideration the US ban on Huawei, how does the group ensure that its efforts do not fall foul of US authorities?

Foong stresses that JF Tech’s collaboration with Huawei is in the manufacturing plant in Kunshan, which serves the latter and other customers within the Chinese market.

“Meanwhile, our Malaysian operations cater to the rest of the world. As our products are not on any sanctions list, our plans to re-establish a presence in the US will not be impacted.

“In fact, some American companies in the same industry as us are also operating their manufacturing facilities [in China] and [they] are selling their products there as well,” he elaborates.

Over the last 12 months, shares in JF Tech have gained 19% or 15 sen to close at 89.5 sen last Wednesday, giving it a market capitalisation of RM825.06 million. The counter is currently trading at a historical price-earnings ratio (PER) of 90 times.

In comparison, its closest peer FoundPac Group Bhd (KL:FPGROUP) declined four sen or 10% over the same period, to end at 36 sen last Wednesday, which translates into a market capitalisation of RM196.86 million. The stock is trading at a much lower PER of 29 times.

JF Tech’s last fiscal earnings were not the best as its net profit dropped 29% to RM12.2 million for the financial year ended June 30, 2023 (FY2023), down from RM17.2 million a year ago because of changes in product mix combined with one-off expenses related to JF Tech’s migration to the Main Market of Bursa Malaysia Securities Bhd, along with a positive tax charge recognised in the preceding year.

In the first half ended Dec 31, 2023 (1HFY2024), JF Tech’s earnings were also lower by 41% to RM4.3 million, compared with RM7.3 million a year before. This was also largely due to the change in product mix contribution as these businesses are still working towards optimal level.

According to AbsolutelyStocks data, JF Tech’s net cash position stood at RM62.4 million as at Dec 31 last year.

$JFTECH / 0146 (JF TECHNOLOGY BERHAD)

https://cutt.ly/BetmE4Jp

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - DATO' FOONG WEI KUONG (Amended Announcement)

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - DATO' FOONG WEI KUONG

Changes in Director's Interest (Section 219 of CA 2016) - DATO' FOONG WEI KUONG

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period

OTHERSJF TECHNOLOGY BERHAD ("COMPANY") - READY TO RIDE ON THE RECOVERY OF THE GLOBAL SEMICONDUCTOR INDUSTRY

Quarterly rpt on consolidated results for the financial period ended 31/12/2023

JF Technology Bhd is all set to embark on its next phase of growth, dubbed as JF 4.0, as it continues to move up the value chain and build market share.

@portoftheyear
$SMTRACK / 0169 (SMTRACK BERHAD) /0169 (smtrack bhd) 15%
$NATGATE / 0270 (NATIONGATE HOLDINGS BERHAD)/0270 (nationgate holding bhd) 20%
$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)/5168 (hartalega holding) 20%
$JFTECH / 0146 (JF TECHNOLOGY BERHAD) /0146) ( jf technology) 20%
$CENGILD / 0243 (CENGILD MEDICAL BERHAD) /0243 (cengild medical) 25%

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period

Changes in Director's Interest (Section 219 of CA 2016) - MR KOAY KAH EE

JF Technology Bhd has set up a joint-venture company in Malaysia with Shenzhen HFC Co Ltd to produce materials used in high-end semiconductor chips for artificial intelligence (AI) and electric vehicle applications.

General Meetings: Outcome of Meeting

OTHERSJF TECHNOLOGY BERHAD ("JF TECH" OR "COMPANY") - FORGING AHEAD WITH ITS 6 GROWTH ENGINES & JF4.0 TRANSFORMATION

$JFTECH / 0146 (JF TECHNOLOGY BERHAD)
FORGING AHEAD WITH ITS 6 GROWTH ENGINES & JF4.0 TRANSFORMATION

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period

Changes in Director's Interest (Section 219 of CA 2016) - DATUK PHANG AH TONG

Changes in Director's Interest (Section 219 of CA 2016) - PUAN JAMILAH BINTI KAMAL

Changes in Director's Interest (Section 219 of CA 2016) - DATO' FOONG WEI KUONG

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - DATO' FOONG WEI KUONG

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period