JF Tech's CEO resigns to pursue other opportunities

JF Tech's CEO resigns to pursue other opportunities
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KUALA LUMPUR (March 18): JF Technology Bhd's (JF Tech) chief executive officer (CEO) Dillon Atma Singh has resigned from his position in the high-performance test contacting solutions manufacturer, according to a bourse filing on Friday (March 18).

The filing said Dillon, 53, is quitting "to pursue other opportunities". The resignation will take effect on Monday. His successor has yet to be announced.

Appointed to the post on May 15, 2020, JF Tech said Dillon had, prior to that, held senior leadership positions as senior director in Renesas, a leading Japanese semiconductor company.

Before that, he was with Intersil (through its acquisition of Elantec Semiconductor), a leading American Power Management semiconductor company, where he managed its entire Asian operations.

Dillon currently holds 302,000 JF Tech shares and 151,000 warrants.

Last month, JF Tech posted its highest ever first half net profit and revenue of RM10.56 million and RM23 million, respectively, for the cumulative six months ended Dec 31, 2021, on Feb 24, 2022.

The semiconductor company also obtained shareholders' approval to transfer its listing status from the ACE Market to the Main Market of Bursa Malaysia on Dec 1, 2021 and expects to complete the transfer by the first quarter of this year.

At Friday's market close, JF Tech's shares were one sen or 0.92% lower at RM1.08, giving the semiconductor player a market capitalisation of RM1 billion. The counter is down 25% year-to-date, according to Bloomberg data.

Tan Choe Choe