SINGAPORE, November 19 2003 - Stratech Systems Limited ("Stratech") today launched a patent-pending parking technology called Parkvasive, a revolutionary car park monitoring and parking management system.

Stratech revolutionized "PARKING" in Singapore with its cash-less and token-less intelligent car park system when it launched SmartPark in 1998. With SmartPark, the Company has illustrated how a homegrown technology has grown into a global commercial product. Cash-less, token-less and hand-free, SmartPark has enabled cars around the world to enter and exit car parks and pay for parking quickly and smoothly. To date, SmartPark has garnered international recognition, with patents granted in Australia, Hong Kong, New Zealand, Singapore and South Korea with several other countries pending.

Says Executive Chairman Dr. David K.M. Chew, "Parkvasive is our second generation parking technology that we believe, will lead another revolution in the global parking industry. It is a computer vision based car park vehicle location, parking information and intelligent surveillance system that automatically identifies the vehicles that occupy each individual parking lot, provides real-time parking information such as the occupancy status of the parking lots, as well as event monitoring for security purposes. The system informs drivers of the exact location of their vehicles as well as the availability of vacant lots. For car park operators and owners, the system provides intelligent surveillance for the overall security of the car park."

Parkvasive's key features can be summarized into three main areas:
  • Identifying Vehicles that Occupy Each Individual Parking Lot - this is accomplished through reading their license plate string in real-time using an advanced license plate recognition algorithm.
  • Monitoring Vacancy Status and Real-time Car Park Information - monitoring of the parking lots is done through the use of reliable and versatile camera systems to track the occupancy status of each individual lot in an intelligent manner, as well as provide real-time information of the car park operation.
  • Providing Intelligent Event Monitoring - providing 24hrs x 7days non-stop intelligent surveillance in the car park using advanced artificial intelligence technology.
With this unique system, value-added parking services such as parking lot booking/reservation, parking guidance, vehicle look-up, valet services, parking enforcement, traffic congestion control, and dynamic pricing of parking lots are made possible.

About Stratech Systems Limited

Stratech Systems Limited (“Stratech”) is a fast growing advanced technology and e-Business developer. We deliver mega real-time mission critical systems in the areas of Computer Vision, intelligent Transport Systems and e-Government. Stratech brings together world-class expertise, software and resources to help its clients meet operational challenges and New Economy opportunities.

Formed in 1989, we have since established an impressive track record serving industries such as Transportation, Healthcare, Government, Defence, and Financial Services. Over the years, we are recognised as a technology expert and innovator, as we continuously develop and implement solutions that achieve significant business transformation and competitive advantage for its clients.

Listed on the Mainboard of the Singapore Stock Exchange, Stratech is headquartered in Singapore and also operates in Greater China (Hong Kong and China) and Australasia.

For more information, please contact:

Gary Tan
Corporate Communications Division
Tel: +65 6799 6650
Fax: +65 6323 2177