Stratech Systems strikes JV with TGGA

Stratech Finance will help clients with purchases.

In a release, Singapore Exchange Mainboard-listed Stratech Systems Limited announced that it has entered into a joint venture with The Garrett Group Asia (TGGA) to establish Stratech Finance Pte. Ltd. Stratech Finance will be incorporated in Singapore with the objective of promoting the sales of Stratech products such as the iFerret™ intelligent Airfield/Runway Surveillance and FOD (Foreign Object & Debris) Detection System by providing clients with long-term and flexible financing for their acquisition.

Stratech Executive Chairman, Dr. David K.M. Chew, explained, “When the first Xerox plain paper copier was introduced, everybody knew it was a revolutionary product, but many people were unable to afford the purchase. When Xerox later offered the copier on a lease basis, it was a gamechanger, and the copier became widely adopted. This is what we are doing with Stratech Finance.

We want to provide flexible financing arrangements to make iFerret™ affordable to airports. Stratech Finance will help to accelerate iFerret™’s roll-out in many markets that we are pursuing.”

TGGA is a Singapore-incorporated subsidiary of The Garrett Group (TGG). It is a financial services and advisory firm focused on providing financial solutions to high technology industries. The Garrett Group’s goal is to utilise classic and proprietary financial tools in unique ways to provide operating leverage and flexibility to clients worldwide to lower total equipment ownership costs, to shorten supplier time to market and to improve return on assets and equity to both buyers and sellers.

Stratech Finance will offer financing options for iFerret™, as well as some of the other intelligent Vision technologies developed by Stratech. It aims to reach out to airports who are keen to adopt iFerret™ to improve their operations, but who may not be able to afford the upfront cash outlay.