Investment in Justing Technology Pte Ltd
Tembusu Growth Fund II Ltd is pleased to announce its investment in Justing Technology Pte Ltd.
Established in 2003, Justing Technology (formerly known as Foison Industry) is a leader in providing green lighting solutions in various fields, including medical, scientific and data-storing industries. The Company develop and manufacture 3 key products – ET5 (retrofit T5 lamp), LED T5, and ZigBee system, which allow users to enjoy both energy and utilities cost savings. All its products developed are targeted to meet the highest benchmark under TUV SUD PSB Singapore testing requirements, which is the benchmark in the lighting industry. This was made possible by the R&D team, a humble but dedicated group of six – comprising three with Ph.D. in engineering, two with experience in military engineering and a commercial engineer.
With the worldwide lighting market set to grow and governments having increasing focus on more energy-efficient solutions, the lighting industry is responding by pursuing development and enhancement of green lighting technologies. To date, Justing Technology has worked with major clients in the government sectors and MNCs in Singapore and Taiwan.
A major US Multinational with businesses across a wide spectrum of industrial related products took 18 months of audit before appointing Justing to be their sole ODM for ET5. The master contract had been signed and the US Multinational plans to take over all projects and contracts regarding ET5 in Singapore.
In Taiwan, a large hospital group under a listed company had approved the Justing’s LED lighting solutions which had achieved their stringent standards set. Justing Technology provides both medical and architectural lightings to the hospital group. The project costs for all the buildings of the hospital group are estimated about S$60mil.
With an exciting technology with widespread applications and potential growth prospects, Tembusu Partners is pleased to add Justing Technology under our portfolio of investments.
Andy Lim, Chairman of Tembusu Partners, said “Justing’s lighting solutions are a game changer in the industrial and commercial lighting space, and we are very excited to partner Richard and his team to realize their business potential.”
Richard Ting, CEO of Justing Group, says “Tembusu and Justing Technology share a common vision in Eco-green technology. We believe that our stringent quality control and high lighting standards will allow the company to scale up quickly. Our dedicated R&D team will continue to innovate and stay ahead of our competitors.”
Tembusu Partners is also pleased to appoint Mr. Poh Eng Seng as a Senior Advisor to Justing Technology. Mr Poh has more than 35 years of experience in various positions as CEO of listed Xpress Holdings Ltd and in various senior positions at leading world logistics company DHL Express. Mr. Poh is currently a Director with Singapore Pools.
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