BREAKING: Trio-Tech (TRT) Quietly Completes Game-Changing Acquisition (No Press Release Issued)
NIA Special Report Update — Breaking Discovery
Trio-Tech International (NYSE American: TRT)
Trio-Tech Now Owns 100% of Its Malaysian Operations — Hidden 8-K Filing Reveals Transformational Milestone
This morning, NIA uncovered a major, undisclosed development buried inside an 8-K that Trio-Tech International filed late Friday evening, December 5th. Trio-Tech issued no press release, meaning virtually no investors understand what is arguably the most transformative corporate event in the company’s modern history.
📌 Confirmed via 8-K:
On December 3, 2025, Trio-Tech officially completed the acquisition of the remaining 50% equity interest in Trio-Tech Malaysia Sdn. Bhd. from Lodestar Enterprise Sdn. Bhd.
For the first time ever:
🔥 Trio-Tech now owns 100% of its Malaysian semiconductor testing operations.
Previously, TRT owned only 55% of Malaysia’s profits. As of December 3rd, it owns 100% — at the exact moment Malaysia has become the company’s fastest-growing division, driven by soaring demand from Customer A.
Customer A now represents 39.8% of all revenue — up from 0% one year ago. All evidence confirms Customer A is AMD, following its massive August 2025 expansion in Penang.
The market has not priced this in yet.
🔥 Catalyst #1: Customer A (AMD) Now Represents 39.8% of Revenue
This is the largest customer concentration shift in the company’s 67-year history. AMD’s recent boom in Penang matches the spike in Trio-Tech’s Malaysian testing volume.
Based on geographic overlap, historic customer disclosure patterns, and timing, Customer A = AMD.
🔥 Catalyst #2: AMD’s Massive Malaysia Expansion Explains Trio-Tech’s Revenue Surge
In August 2025, AMD opened a brand-new 209,000 sq ft AI GPU engineering facility in Penang:
- 1,200+ engineers
- AI PC, GPU, accelerator development
- Rapid growth in test flows
- Minutes from Trio-Tech Malaysia
“final testing services for next-generation high-performance AI devices for a leading AI chip manufacturer” — this language from Trio-Tech’s earnings release directly matches AMD’s buildout.
Below: AMD’s Penang grand opening (August 14, 2025)
🔥 Catalyst #3: Malaysia Now 100% Owned — Exactly When Growth Explodes
This is the facility at the heart of Trio-Tech’s AI testing boom:
Before Dec 3rd:
– 45% of Malaysia’s profits went to the minority partner.
After Dec 3rd:
– 100% of Malaysia’s profits belong to TRT shareholders.
This quarter and especially next quarter will be the first to show major margin expansion.
📈 Long-Term Key Breakout Point: $11.70
Below is the updated multi-decade chart showing $11.70 as the key breakout point and $24.75 as the July 2007 all-time high.
A breakout above $11.70 completes a 17-year falling wedge pattern with upside targets of:
- $15–$25 (conservative)
- $40–$60 (fair-value vs peers)
- $100+ (AEHR parity multiple)
🔥 Catalyst #4: AEHR Trades at 12.8× Revenue vs TRT at Only 0.37×
Despite declining revenue, AEHR carries a $730 million EV.
Meanwhile:
- TRT revenue up 58%
- TRT profitable
- TRT EV only $21 million
- TRT now owns 100% of Malaysia
- Customer A (AMD) = 40% of revenue
The valuation gap (~34×) is mathematically unsustainable.
🔥 Catalyst #5: Trio-Tech Hired AEHR’s IR Firm
Trio-Tech International (TRT) has hired PondelWilkinson, the same IR team that helped push AEHR to a billion-dollar market cap. This positions TRT for:
- New institutional exposure
- Increased analyst coverage
- Significant multiple expansion
Valuation Scenarios for 2026
- 1×–2× EV/Revenue: $15–$25
- AEHR parity (12× EV/Rev): $100–$120
- AI supercycle: $150+
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is for informational and educational purposes only and does not provide investment advice.
