KUALA LUMPUR (June 20): Mi Equipment Holdings Bhd is eyeing a sevenfold increase in its wafer level chip scale packaging (WLCSP) sorting machine production capacity at 90 per month by 2020 from the current 12 to grow earnings.

Today, group chief executive officer Oh Kuang Eng told reporters after Mi Equipment's listing on Bursa Malaysia's Main Market that Mi Equipment expects good financial results for the first half ending June 30, 2018. Mi Equipment's website indicates that the group is involved in the design, development, manufacture and sale of WLCSP sorting machines with inspection and testing capabilities for the semiconductor industry.

Oh said at the press conference: "We have released our first quarter results (and) are still waiting for our second quarter to complete, but we feel that it will look good for the first half of 2018."

At Bursa Malaysia today, Mi Equipment shares opened at RM1.39, three sen down from its initial public offering (IPO) price of RM1.42. At 10:59am, the stock rose 17 sen to RM1.59 with some 45 million shares traded. Mi Equipment was the most-active counter on the local bourse.

According to Mi Equipment's prospectus, the company's IPO involved a public issue of 134.43 million new shares and offer for sale of 18.52 million existing shares at RM1.42 each.