The Board of Directors of Key ASIC Berhad announced that Key ASIC had entered into four turnkey ASIC design service contracts with customers for contract value totalling to MYR 16 million over three years period. Key ASIC would provide licensing of IP blocks, engineering design services including but not limited to Place and Route (P&R), Timing Verification of the ASIC/SoC, Design Rules Checks/Electrical Rules Checks (DRC/ERC), Multi-Project Wafer (MPW) services, test program development for mass production of chips, and mass production including test and packaging of the chips. Typically, the shipment of mass production of chips will last at least three (3) or more years depending on the applications of the chips.

In addition to the Non-Recurring Engineering fees, the projects usually contribute to a multi-year revenue stream from the shipment of the wafers/chips.