MPI to stop leadframe operations

KUALA LUMPUR: Malaysian Pacific Industries Bhd’s (MPI) wholly owned subsidiary, Dynacraft Industries Sdn Bhd (DCI), will cease its manufacturing of leadframe operations effective end of January 2024.

In a filing with Bursa Malaysia, the company said the decision was made after a careful business strategy review.

“The cessation of DCI manufacturing operations will not have any material impact on the net assets and earnings per share of MPI Group for the financial year ending June 30, 2024.

“The board of directors of MPI is of the opinion that the cessation of DCI manufacturing operations is in the best interest of the MPI Group,” it added.