KUALA LUMPUR: Johor-based Astaka Holdings Ltd has signed an exclusive agreement with a subsidiary of Evergrown Holdings Bhd to venture into the HealthTech sector.
Under the agreement, Evergrown will manufacture EV SUN sterilisation lighting products for Astaka, which will purchase and market the products under its own brand and trademark.
The products are currently used in commercial and industrial settings, including hospitals, food and beverage companies, manufacturers and government institutions in Malaysia.
Astaka executive director and chief executive officer Allen Khong said the move into the consumer HealthTech sector aims to broaden the group’s revenue base, while enabling it to source its own LED lighting solutions for use in its development projects.
“As a leading developer of premium serviced residences in Johor such as The Astaka, Arden and Aliva, we are constantly looking to enhance living experiences through the integration of innovative technologies that promote sustainability and the well-being of our communities. When we came across Evergrown Group’s range of pioneering and proven healthtech light products, we quickly became customers ourselves.
“With heightened hygiene awareness post-COVID-19, demand for ‘healthtech light’ and sterilisation lighting solutions has continued to expand globally. As Singapore is a HealthTech innovation hub and one of the world’s cleanest countries, we saw the perfect opportunity to introduce Evergrown’s products to the local consumer market,” Khong said in a statement.
He added that the group is leveraging its residential property development expertise, alongside external consultants, to assess the market with the aim of launching its own consumer-focused healthtech lighting brand in 3Q26, starting with Singapore before expanding regionally.
Evergrown CEO Nelson Lim said that while the company has completed more than 700 residential installations in Malaysia since inception, its primary customer base remains in the commercial and industrial sectors.
He said there is clear potential to tap the consumer market in Singapore, given the growing residential property market and the presence of over one million Housing & Development Board units.
“Both Astaka and Evergrown Group share a mutual vision to promote safer and more sustainable lived environments for our customers.
“In light of deepening business and trade links among companies in the Johor-Singapore Special Economic Zone (JS-SEZ), we believe that entering Singapore through a partnership with an SGX-listed company will be the perfect platform for our future expansion."
