Serial Achieva signs MOU with new shareholder UFCT to tap AI opportunities 

[SINGAPORE] SGX-listed IT products distributor Serial Achieva inked a memorandum of understanding (MOU) on Mar 16 with new shareholder UFCT Technology (UFCT), to explore opportunities in artificial intelligence (AI), cloud computing and other advanced storage technologies.

The partnership follows UFCT’s move earlier this month to subscribe for about 21 million new shares in Serial Achieva at S$0.22 apiece, raising about S$4.62 million for the company.

Upon completion, UFCT will hold an 11.01 per cent stake in the company’s enlarged share capital. The deal is expected to close by Apr 30.

Under the non-binding MOU, UFCT will use its industry resources to support Serial Achieva’s business development, including jointly pursuing enterprise customers, cloud service providers, data centres and system integrators.

The tie-up will also include cooperation on AI infrastructure, cloud computing, storage and intelligent computing solutions. UFCT is expected to introduce differentiated products such as storage and memory solutions to strengthen Serial Achieva’s product mix and regional competitiveness.

UFCT, a Hong Kong-based electronic components distributor, holds distribution rights for semiconductor brands such as MediaTek, SK Hynix and AMD. It counts Alibaba, Tencent and ByteDance among its cloud customers.

UFCT’s parent, Shannon Semiconductor, is one of China’s largest electronics components distributors by revenue, with a market capitalisation of around 73 billion yuan (S$13.4 billion).

Sean Goh, chairman of Serial Achieva, said that the collaboration brings together highly complementary strengths and marks “an important step in positioning Serial Achieva within the rapidly expanding AI and cloud value chain in Asia”.

He added that the partnership would broaden its technology offerings, strengthen its competitiveness in next-generation storage and intelligent computing.

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Both companies plan to explore deeper capital collaboration, including the possibility of UFCT increasing its shareholding in Serial Achieva over the next two to three years, subject to approvals and due diligence.

Serial Achieva has posted losses since 2022, though its net loss for FY2025 narrowed to US$0.7 million from US$6 million in the preceding year, a result of the absence of one-off reverse acquisition costs.

Its management expects that 2026 would remain challenging, citing cautious consumer sentiment and potential pricing pressure from memory shortages.