Powertech Technology (TPE:6239) will jointly establish a $400 million joint venture in Singapore with Broadcom Technologies to manufacture panel-level advanced packaging products.

The investment will be funded through internal resources and deployed in line with the construction progress and funding needs of the Singapore facility.

Powertech Technology said the venture is intended to strengthen its global footprint and better align with the supply chains of its international customers.

Deal completion remains subject to regulatory approvals, definitive agreements and other customary closing conditions.