In a filing to the Taiwan Stock Exchange (TWSE) in late April, Taiwanese Lite-On Technology announced plans to invest an additional $149 million into its wholly-owned subsidiaries in Vietnam.
Specifically, as reported by TNGlobal, $110 million will be channeled into Lite-On Vietnam to facilitate production capacity expansion. The remaining $39 million will be allocated to Lite-On Technology Vietnam to fund the construction of a new factory and cover operating expenses in Quang Ninh province, northern Vietnam.
These funds are expected to be disbursed in phases, depending on actual business requirements.
Following this capital hike, Lite-On’s cumulative investment in Lite-On Vietnam will reach approximately $432.5 million. Meanwhile, Lite-On Technology Vietnam will see its total capital rise to roughly $159 million.
Lite-On stated that these investment decisions received full consensus from its leadership, with no dissenting opinions from board members. Furthermore, the company emphasized that this additional capital injection does not involve any changes to the group’s current business model.
Taking all announced investments into account, Lite-On's total capital commitment in Vietnam is estimated to have surpassed the $1.2 billion mark.
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