By Yantoultra Ngui
SINGAPORE, July 9 (Reuters) - Temasek-backed 65 Equity
Partners has invested S$100 million ($74.15 million) into
Singapore-headquartered regional advanced manufacturing service
company Hi-P International, the latter company said in a
statement on Tuesday.
The Singapore-based investment firm made the fresh capital
injection to Hi-P International through its Local Enterprise
Fund, which is a S$1 billion joint fund with the Singapore
government and led by its trade and industry ministry, the
statement said, without disclosing further financial details of
the deal.
Hi-P aims for a public listing in the future, and 65 Equity
will have a seat on Hi-P's board and play an active role in
achieving these plans, the statement said.
65 Equity has appointed Lim Chin Hu as its representative on
Hi-P's board.
Founded in 1980, Hi-P provides advanced manufacturing and
production and assembly, testing and packaging services to
companies including Apple ( AAPL ), Dyson, Meta and
Tesla.
Hi-P, which was taken private and delisted from the
Singapore Exchange in 2021, said it expects its revenue to grow
to more than S$2 billion this year, compared with S$1.6 billion
in 2021.
($1 = 1.3487 Singapore dollars)