GRAND Venture Technology (GVT) and the Agency for Science, Technology and Research (A*Star) will be working together to develop a customised manufacturing platform for advanced ceramics, as the mainboard-listed company continues to make leaps in its semiconductor business.
On Monday (Jan 13), the manufacturing service provider said the tie-up will allow GVT to capture opportunities in high-growth industries and strengthen its competitive edge.
“This strategic partnership underscores GVT’s commitment to innovation and technology-driven growth, which are vital in addressing the evolving demands of its customers in the life sciences and semiconductor sectors,” it said.
The partnership is also expected to expand the company’s differentiated capabilities in high-value ceramics manufacturing, as well as contribute to the company’s advanced materials research and development road map.
The development of the platform will be led by A*Star Singapore Institute of Manufacturing Technology. More details about the tie-up will be announced at a later date, said GVT.
This comes as GVT, which makes front-end and back-end equipment in the semiconductor original equipment manufacturer space, is seeing business in the essential semiconductor space grow.
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Positive on growth
In December, the company was selected as a preferred supplier for advanced semiconductor packaging equipment. This includes precision parts and components for thermal compression bonding equipment – used in advanced semiconductor chips that support applications, such as those in data centres and artificial intelligence.
The process has become more important in ensuring smaller and more compact devices, faster performance and greater durability, amid growing demand for more power-efficient devices, said GVT.
The company is also positive on the growth of the advanced packaging market, an essential part of the semiconductor industry. Citing Yole Intelligence, the market is expected to grow at a compound annual growth rate of 11 per cent to reach US$69.5 billion in 2029.
In its business update for the nine months ended September 2024, GVT’s net profit after tax amounted to S$6.3 million, up 33.5 per cent from S$4.7 million in the previous corresponding period.
Revenue was up 35.8 per cent on the year to S$111.9 million, largely driven by contributions from the company’s semiconductor segment.
The semiconductor segment posted a 50.8 per cent year-on-year increase in its revenue to S$59.5 million in the recorded period. This came as GVT won new programmes and grew its wallet share.
GVT believes its semiconductor segment will continue to do well as the industry undergoes “significant structural transformation”, with advanced packaging playing a “pivotal role” in meeting the growing demands of emerging tech.
The group noted that it expects to meet the higher end of its target revenue guidance of between S$80 million and S$86 million for H2 FY2024.
Shares of GVT ended 1.2 per cent or S$0.01 higher at S$0.835 on Friday.
