(Yicai) June 28 -- Shares of China Wafer Level CSP rose after the image sensor wafer-lever packaging service provider said it will invest USD50 million to build a plant in Malaysia to get closer to overseas markets and meet local clients' demand.

China Wafer [SHA: 603005] jumped 2 percent to CNY20.26 (USD2.79) a share as of 11.05 a.m. in Shanghai today, after earlier rising by as much as 2.7 percent.

The plant will be located in Penang, one of Malaysia's most important manufacturing centers with a good industry and talent base in electronics, chips, and auto parts, China Wafer announced late yesterday, without disclosing further details such as the type of products to be made and the factory's annual capacity, and construction schedule.

Suzhou-based China Wafer supplies image sensor chip packaging, testing services, and micro-optics devices. Its products are mainly used in phones, security monitoring, and vehicle electronics.

China Wafer's major clients include Sony Group, GalaxyCore, and other well-known sensor technology companies. Its sales revenue from overseas markets accounted for 73 percent of its total last year, according to its annual earnings report.

Editor: Martin Kadiev