MIC Electronics Limited (BSE: 532850, NSE: MICEL), a global leader in the design, development, and manufacturing of LED video displays, has announced that it has entered a MOU (Memorandum of Understanding) with Top2 PTE Limited, a Singapore based entity to explore, identify, and finalize a semiconductor partner from Taiwan.
The purpose of this MOU is to establish a framework under which “MIC “shall engage “Top2” to explore, identify, and finalize a semiconductor fabrication partner from Taiwan. The objective is to initiate semiconductor wafer production with an monthly target capacity of 25,000 to 30,000 wafers, subject to feasibility, negotiations, and regulatory compliance.
Earlier,the company’s board granted in principle approval to explore the acquisition of equity shares in Neo Semi SG Pte. Ltd. (NSPL), a high-growth, innovation-driven company based in Singapore. This strategic step marks the Company’s entry into next-generation technologies and allied domains with strong growth trajectories.
NSPL has built a unique and future-ready ecosystem through a Memorandum of Understanding with a Silicon Valley USA-based semiconductor chip design and fabless company with advanced IP assets and is developing cutting-edge silicon solutions for high-performance computing, AI, and IoT applications, an energy management company offering integrated IoT-based solutions focused on climate resilience, energy efficiency, and smart grid modernization.