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TAIPEI - Hon Hai (TW:2317) Precision Industry Co. Ltd., widely known as Foxconn (SS:601138), announced on Wednesday the complete acquisition of its two Singapore-based subsidiaries, Foxconn Singapore Pte Ltd and eCMMS Precision Singapore Pte. Ltd. The transactions, which are part of a long-term investment strategy, involve the purchase of common shares amounting to a total of USD 177,177,647.
The electronics manufacturing giant, on May 14, 2025, acquired approximately 93.6 million shares of Foxconn Singapore Pte Ltd at SGD 1 each, totaling USD 69,840,556. On the same day, Hon Hai also purchased around 107.3 million shares of eCMMS Precision Singapore Pte. Ltd. at USD 1 each, amounting to USD 107,337,091. Both transactions were conducted with subsidiary companies, indicating a consolidation of ownership rather than a cash investment.
Following these acquisitions, Hon Hai holds 100% shareholding in both subsidiaries, with no restrictions on rights. The company stated that the purpose of these acquisitions is for long-term investment, and no dissenting opinions were reported from the directors regarding the transactions.
The board of directors and the Audit Committee ratified the transactions on May 14, 2025, according to the company’s statement. The transactions do not involve any changes to the business model, and no broker fees were incurred as the dealings were internal to the corporate group.
The investments represent a substantial addition to Hon Hai’s assets, with the ratio to total assets standing at 14.40% and to owner’s equity at 31.84%, based on the most recent financial statements. The operations were funded through self-owned funds, emphasizing the company’s financial capacity to support such investments.
These acquisitions underline Hon Hai’s strategy to streamline its operations and reinforce its position in the electronics manufacturing sector. The company’s statement, based on a press release, offers a factual account of the transactions without any subjective assessment or promotional language.
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