Smartphones Nearly Killed This Singapore Stock. Elon Musk Saved It

Auto parts sales to gain 20 percent in each of next two years
Contracts from June to double revenue in electronics segment

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By Abhishek Vishnoi

March 5, 2018 at 4:00 PM UTC

Updated on

March 6, 2018 at 9:53 AM UTC

This article is for subscribers only.

The rise of the smartphone almost broke Tze-Mon Chuang’s company -- Elon Musk provided its salvation.

Singapore-based Memtech International Ltd. has more than doubled its market value in the past year thanks to tie-ups with the likes of Tesla Inc. The manufacturer is a key supplier to Musk’s pioneering auto company, making plastic components for its battery packs.