Formosa

It manufactures home speaker saw a Taiwan based Wistron Corp now owning a 28% stake, after the latter acquired 69.26 million shares on March 17 2014 from several parties at rm0.80 per share.

With the purchase of the shares, Wistron is now (March 2014) FPI’s largest shareholder after PNB which holds a 21.64% stake.

Market observers said the emergence of Wistron – the world’s third largest contract manufacturer of laptops – could channel new businesses to FPI given the Taiwanese group’s large scale of operations.

Its cash and short term funds stood at rm137.9 million with negligible borrowings of rm50000.

Formosa is run by Taiwanese and there are four Taiwanese individuals who sit on the board of FPI.

While FPI is expected to gain business from Wistron with clients including DELL and HP, Wistron is also likely to benefit from FPI’s strong client base comprising largely Japanese MNCs such as Sony and JVC.