KUALA LUMPUR (Nov 28): Globetronics Technology Bhd (KL:GTRONIC) said it is partnering Canada-headquartered POET Technologies Inc to work together on advanced manufacturing and testing of optical engines, designed for applications such as data centres and telecommunications.
POET is a Nasdaq-listed design and development company offering integration solutions for electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods.
According to Globetronics, optical engines are devices that power high-speed data transmission and reception, “transforming how information flows in optical communication systems”.
“Using POET’s advanced Optical Interposer technology, these compact modules integrate critical components like lasers and photodetectors to convert electronic signals into photonic signals and vice versa,” it said in a statement on Thursday.
In the statement, Globetronics said it has entered into a strategic partnership with POET to establish a framework for the collaboration. Under the partnership, Globetronics will focus on the assembly, packaging, and testing of optical engines.
On the other hand, POET will provide proprietary designs, critical materials, and technical specifications.
“This collaboration with POET represents a pivotal step in expanding Globetronics’ expertise into the photonics industry,” Globetronics said.
“By combining our advanced manufacturing capabilities with POET’s innovative designs, we aim to deliver scalable, high-performance optical engines that address the growing global demand for optical communication solutions,” it added.
Over the past three months, Globetronics faced heavy sell-down after its external auditor KPMG PLT voluntarily resigned in September. It didn’t help that two of its institutional shareholders, the Employees Provident Fund and Lembaga Tabung Haji, sold off their shareholdings to cease from being substantial shareholders following KPMG’s departure.
The group also saw the resignation of two directors, including its CEO Heng Charng Yee on Oct 22, citing personal matters and other commitments as reasons for their resignations. Its COO Yip Wai Chee will be redesignated as CEO effective Jan 2, 2025.
Globetronics emerged as the most-actively-traded stocks last Friday (Nov 22), after it secured a RM145 million contract to provide integrated circuit (IC) product packaging, testing, and backend services to Taiwan-based ChipMOS Technologies Inc.
The counter climbed as much as six sen, or 11%, that day to reach an intraday high of 57 sen, marking its largest single-day gain since Sept 23.
On Thursday, Globetronics fell 2.5 sen, or 4.24%, to close at 56.5 sen for a market capitalisation of RM381.6 million. Year to date, the counter has dropped by more than 64%.
