EC-Founder to sell semi-conductor unit

HONG KONG: Internet software firm EC-Founder (Holdings) Co Ltd. said on

Sunday that subject to shareholder approval, it would sell its semi-conductor

business to substantial shareholder Ricwinco for HK$15 million.(US$1.9 million)

"With the disposal, EC-Founder will be able to better allocate and focus

its resources on the development of its high growth Internet technology,"

EC-Founder president Ricky Lei said in a statement.

Ricwinco holds about 10.68 per cent of the EC-Founder's issued share capital.

The firm's semi-conductor business is operated by Yung Wen Group, a wholly-owned

subsidiary of EC-Founder.