Foxconn is looking to buy a 60 per cent stake in the business for T$64bn ($2.1bn), said Reuters.
Taiwanese mobile phone and fixed network carrier is also interested in the company.
It is not guaranteed that the talks will lead to a deal and MBK could list the company in Singapore, said the person.
Last year it was reported that MBK hired Goldman Sachs and Morgan Stanley to manage its IPO.
Back in October it was reported that MBK was looking to sell South Korean packaging products supplier Techpack Solutions.
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