Astaka ventures into healthtech as new growth driver, signs exclusive deal with Evergrown

KUALA LUMPUR (Feb 27): Johor-based Astaka Holdings Ltd has announced plans to venture into the healthtech sector as it explores new future growth drivers for the group.

According to a press statement on Friday, Astaka signed an exclusive agreement with a subsidiary of Johor-based Evergrown Holdings Bhd on Thursday (Feb 26) to manufacture EV SUN “healthtech light” products that use sterilisation lighting technology to enhance hygiene and security in built environments.

Under the agreement, Evergrown will manufacture products determined by Astaka and mutually agreed upon by both parties, which Astaka will purchase and market under its own tradename and trademark.

Evergrown’s products are developed using in-house technology and are currently used mainly in commercial and industrial applications, with customers including major hospital chains, global food and beverage brands, manufacturers and Malaysian government institutions.

Astaka executive director and CEO Allen Khong said, “By venturing into the consumer healthtech sector, our goal is to expand our revenue base, while benefitting from the ability to procure our own LED lighting solutions for our 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. Leveraging our expertise in residential property development and with the help of external consultants, we are now assessing the market with the goal of launching our own brand of consumer-focused healthtech light products in 3Q2026. Singapore will be our launch market, but in the future, we plan to expand regionally.”

Evergrown CEO Nelson Lim said, “We are excited to kick off this exclusive partnership with Astaka, one of the most prominent developers of high-end real estate projects in Johor.

“While we have completed over 700 residential installations in Malaysia since our inception, our main customer base is within the commercial and industrial sectors. There is a clear opportunity to enter the consumer market in Singapore, where there is a growing residential property market and over a million Housing & Development Board (HDB) units.

“Both Astaka and Evergrown Group share a mutual vision to promote safer and more sustainable living 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.”

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