KUALA LUMPUR: AppAsia Bhd is diversifying into the semiconductor business by inking a memorandum of understanding (MoU) with CMSC Inc, a Taiwanese integrated circuit (IC) design services provider.

Under the MoU, AppAsia planned to establish a special purpose venture entity to explore business opportunities in IC production, including IC design covering, IC front-end and back-end design and turnkey solutions, the company said in a filing with Bursa Malaysia yesterday.

AppAsia is an investment holding company which engages in the eCommerce business in Malaysia and the United States.

CMSC, listed on the Taiwan Emerging Stock Market and headquartered in Hsinchu Science Park, has the expertise, skills, technical know-how and experience in IC design services.

AppAsia said the collaboration is part of its strategic expansion into the semiconductor industry, particularly in IC design, as part of its broader business diversification efforts. — Bernama