MASNET No. 57 OF 05.03.2004
Announcement No. 68
SPEEDY-TECH ELECTRONICS LTD
NEWS RELEASE
PSB CORPORATION’S TESTING GROUP TO TAP INTO SPEEDY-TECH’S TEST
FACILITIES
- PSB Corporation inks agreement to lease Speedy-Tech’s world-class EMC testing
chamber
Singapore, March 5, 2004 – Speedy-Tech Electronics Ltd. (“Speedy-Tech”), a homegrown EMS and Power
Electronics player, today announced that it has signed an agreement to lease the use of its electromagnetic
compatibility (“EMC”) testing chamber in Singapore to PSB Corporation ("PSB Corp”).
Speedy-Tech will allow PSB Corp’s Testing Group to use its 10m anechoic chamber for EMC measurement.
The chamber is specially designed to allow testing of Radio Frequencies (“RF”) emissions from electronic
systems.
Said Mr Chong Weng Hoe, Senior Vice President of PSB Corp’s Testing Group, “We are delighted to seal this
agreement with Speedy-Tech, one of Singapore’s leaders in the area of Power Electronics solutions. Coupled
with PSB Corp’s existing range of anechoic chambers and EMC facilities, Speedy-Tech’s world-class
anechoic chamber will augment our role as the de facto test house in the region. The strategic arrangement
will help boost our capacity as well as shorten turnaround time, in line with our continuous focus on service
delivery to our customers.
In choosing a partner, we have also taken extra steps to ensure that laboratory accreditation requirements
such as confidentiality and independence are well intact. For example, client confidentiality is assured as all
test samples are handled by PSB Corp staff throughout the testing process.”
Said Mr Tan Keng Boon, Chairman of Speedy-Tech, “This agreement marks a significant milestone in our
commitment to constantly innovate and deliver more value to our customers. We hope that this will set the
stage for further collaboration with PSB Corp and we also hope to partner other players who are keen to tap
on our expertise in Power Electronic solutions.
Given the proliferation of complex and high-speed electronic systems and equipment, EMC has been growing
in importance in order to meet the standards set by regulatory bodies across the globe. Our anechoic
chamber is an ideal testing facility to ensure that products undergo the necessary verifications and testing to
determine the levels of interference that a system can tolerate. This will allow us to conduct the entire product
design prototyping in-house and will eventually reduce the time-to-market for our OEM customers, thereby
sharpening our competitive edge."
The lease with PSB Corp will commence after the anechoic chamber is fully completed. Speedy-Tech has
already started construction of the testing facility and this is expected to be completed by the third quarter of
this year.
The S$4.6 million project, the second such EMC testing facility in Singapore, will allow Speedy-Tech to provide
total solutions to its MNC customers based in Singapore and Asia.
The anechoic chamber is located in Speedy-Tech’s manufacturing facility in Singapore. It provides a welldefined surrounding to test RF emissions.
Said Mr Tan, “It is necessary for us to undertake more sophisticated innovation and design solutions to
enhance our competitive edge and expand our international presence. R&D has always been a key pillar of
our business strategy and we hope to achieve more technological breakthroughs in the years ahead.”
Financial Effects
The above transaction is not expected to have a material impact on the net tangible assets and earnings per
share of the Group for the current financial year.
None of the directors have any interest, direct or indirect, in the transaction. The directors are not aware of any
substantial shareholder having an interest, direct or indirect, in the said transaction and have not received any
notification of any interest in the transaction from any substantial shareholder.
About Speedy-Tech Electronics Ltd.
Speedy-Tech is a provider of Electronic Manufacturing Services (EMS), including PCBA and Box-Build
services, and an ODM of Power Electronics solutions, with production facilities in Singapore, China and the
Philippines.
It has a well-diversified base of customers spread over a wide spectrum of industries such as the IT, industrial
equipment, banking equipment, medical devices, telecommunications and consumer electronics sectors
covering the US, Europe and the Asia-Pacific region. Speedy-Tech counts amongst its customers, established
global electronics players such as Hewlett Packard, Printronix, NEC, Hypercom, LG Electronics, BYD and
many others.
Speedy-Tech was established in 1985 and was successfully listed on the Main Board of the SGX in January
2004.
About PSB Corporation (www.psbcorp.com)
PSB Corporation is the one-stop integrated solution provider to help companies achieve business excellence
through people, products and processes. PSB Corp has four key services - training, consulting, technology
and testing. Under these broad service areas, PSB Corp assists industry in organisational training &
consultancy, process & systems reengineering, product & technology development and product testing &
certification. PSB Corp is backed by 25 years of industrial experience, a network of world-renowned resources
and a list of achievements that have touched leading public and private multinational corporations in
Singapore and around the world.
The Testing Group aims to make product quality and safety an organisation’s edge in world markets. The
Group’s programmes include contract testing, product certification and factory inspection in the areas of
mechanical and building, electrical and electronics, chemical and materials, and telecoms and
electromagnetic compatibility.
ISSUED ON BEHALF OF
:
Speedy-Tech Electronics Ltd.
BY
:
Citigate Dewe Rogerson, i.MAGE Pte Ltd
55 Market Street
#11-01 / 03 Sinsov Building
SINGAPORE 048941
CONTACT
:
Ms Karen Lew
at telephone
DURING OFFICE HOURS
:
6534-5122 (Office)
AFTER OFFICE HOURS
:
9781-3267 (Handphone)
Email
:
karen.lew@citigatedrimage.com
021/04/002/STE
March 5, 2004
Submitted by Tan San-Ju, Company Secretary on 05/03/2004 to the SGX