ASM Pacific Technology Limited has announced that it reached an agreement to form a Strategic Joint Venture (SJV) involving its Materials segment with key partners. Mr. Ng added that ASMPT had undertaken a rigorous process to identify suitable strategic partners to help accelerate the business growth of its Materials segment. The SJV partners, namely Wise Road Capital Ltd. ("Wise Road"), Asia-IO Capital Management Limited ("Asia-IO") and ASMPT, will collectively guide the management and development of the SJV. The SJV is expected to begin operating by the end of the year 2020. In the meantime, ASMPT's Materials segment will continue its business, with the management team, operations, expansion plans and product development unchanged. When the SJV begins operation, it will operate as an independent business under the auspices of the SJV partners, tapping the deep and complementary network and market experience of Wise Road and Asia IO to help extend and solidify its leadership position in the lead frame market. ASMPT will hold a minority equity interest in the SJV amounting to 44.44%, while Wise Road and Asia-IO will collectively hold a controlling interest of 55.56% through their designated investment vehicles. The financials of the SJV will be equity accounted by the Group once the SJV begins operating.