MiniLogic floats on GEM with ASTRI’s R&D underlying

Feb. 12, 2012 - PRLog -- MiniLogic Device Corporation Limited, a semiconductor company in Hong Kong specialising in the provision of integrated circuits (IC) solutions and a long-time industry partner of the Hong Kong Applied Science and Technology Research Institute (ASTRI), has successfully evolved from a local enterprise set up with an initial capital of HK$10,000 in January 2000 into a company listed on the Growth Enterprise Market (GEM) of The Stock Exchange of Hong Kong Limited last month.  

To facilitate the listing, an investment holding company Megalogic Technology Holdings Limited (08242.HK) was incorporated in the Cayman Islands in March 2011 and acquired the entire issued share capital of MiniLogic in December 2011. With its launch on the stock market, Megalogic has raised about HK$24.3M in net proceeds to fund its development of IC products and expansion in the China market. Megalogic currently carries out its core business activities by MiniLogic.

Over the past 12 years, MiniLogic has been providing solutions on both standard and application-specific integrated circuits to its worldwide customers. Its product lines include voltage detector, voltage regulator, DC converter, logic gate, LCD driver, motor driver and analog-to-digital converter. Major products range from power management ICs and LED lighting driver ICs to DVD player ICs and CCD surveillance system ICs.

Since its establishment, MiniLogic has entered into six licensing agreements with ASTRI to incorporate the intellectual properties (IP) and know-how of ASTRI in its IC products so that lengthy R&D processes could be avoided.

“ASTRI’s support was crucial to MiniLogic’s growth during the past five years,” said Mr Stapler Li Kwei-chung, a founder of MiniLogic and Chief Executive Officer of Megalogic. “By building on ASTRI’s patent protected technologies, we can swiftly develop our products to meet the specific needs of the customers. ASTRI’s IPs have translated into reduced development costs and enhanced competitive strengths for MiniLogic.”

ASTRI’s Chief Executive Officer Dr Cheung Nim-kwan is glad that MiniLogic has floated on the GEM. He said, “ASTRI’s IC design experts have been working closely with the engineers of MiniLogic for years. We have joined hands to overcome technical hurdles arisen in the development of the products that involved our IPs. MiniLogic’s enviable expansion exemplifies the value of ASTRI’s R&D capabilities to the success of our industry partners.”

Funded by the Hong Kong SAR Government to enhance Hong Kong's competitiveness and sustainable growth in technology-based industries by undertaking innovative R&D, ASTRI strives to deliver technologies that can eventually be transferred to industry in a cost-competitive way, creating economic impacts to its industrial clients and the community at large.

About Megalogic Technology Holdings Limited (08242.HK)

Megalogic Technology Holdings Limited is a company incorporated in Cayman Islands with limited liability and listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited on 19 January 2012. The Group is a fabless semiconductor company specialising in provision of IC solutions, and is engaged in design, development and sales of ICs.  Megalogic Technology Holdings Limited is an investment holding company and its business activities are carried out by its subsidiary MiniLogic Device Corporation Limited.

For further information about Megalogic, please visit www.megalogic.com.hk.

About MiniLogic Device Corporation Limited

Founded in Hong Kong in January 2000, MiniLogic is an IC design house that can respond quickly to customers and provide fast and the best solution. Its product line includes static LCD driver, power management IC such as voltage detector, voltage regulator and DC-DC converter, single or dual Logic gates, LED driver and Motor driver. Its engineers have many years of experience in Analog and Mixed signal IC design, specialising in power management IC. Minilogic has a worldwide sales network covering China, Hong Kong, Korea, Taiwan, Russia and Germany. Product coverage includes MP3 player, PDA, Digital camera and other handheld products. MiniLogic’s mission is to supply a wide range of products which suit customer's needs at a fair price.

For further information about MiniLogic, please visit: www.minilogic.com.hk.

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The Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of Hong Kong Special Administrative Region in 2000 to enhance technological advances for Hong Kong through applied research.

In 2006, ASTRI was designated the Hong Kong Research and Development Centre for Information and Communications Technologies by the Innovation and Technology Commission to perform leading-edge R&D for technology transfer to industry, develop technological human resources and act as a focal point bringing together industry and university R&D assets.

During the past years, ASTRI has been conducting a spectrum of world-class and customer-focused R&D, and has built teams of excellent researchers, produced a volume of intellectual properties and created real economic impact by transferring technologies to its clients in Hong Kong, the Chinese mainland and the region.

For further information about ASTRI, please visit www.astri.org.