Accton Board Approves USD 35 Million Capital Increase for Singapore Subsidiary

Central News Agency, Taipei, May 18 - Accton announced today that its board of directors has resolved to increase the capital of its Singapore subsidiary, Accton Technology SG Pte Ltd., by USD 35 million. The funds will come from the company's own capital and are intended for long-term investment.

Accton stated that, to date, the cumulative amount of this security held (including this transaction) has reached USD 126 million. On behalf of its Singapore subsidiary Accton Technology SG Pte Ltd., Accton announced the lease of a factory from JTC to meet long-term development needs. The transaction unit quantity is 22,636.3 square meters, with a total transaction amount of SGD 40.1 million.

Furthermore, to accommodate long-term growth, Accton's board also approved the acquisition of right-of-use assets by Vietnam Accton Technology Company Limited. The transaction units include 24,861.4 square meters of land and 38,255.6 square meters of factory space. A total of USD 15.1 million is planned for investment, with the counterparty being CSI SEMICON COMPANY LIMITED.

Accton's board also passed a long-term factory lease case for Vietnam Accton Technology Company Limited. The transaction unit quantity is 11,340 square meters, with a rent of approximately USD 13.5 million. The counterparties are CNCTECH GROUP JOINT STOCK COMPANY and THANG LONG CNCTECH JOINT STOCK COMPANY.

Accton previously announced its first-quarter financial report, with quarterly revenue of NT$70.12 billion, net profit attributable to owners of the parent company of NT$8.341 billion, and basic earnings per share of NT$14.92.