Singapore-based advanced manufacturing service provider Hi-P International has appointed former Apple executive Duco Pasmooij as an independent director on its board. According to an announcement, Pasmooij will chair the company’s newly established technology, transformation, and sustainability committee. A 21-year veteran of Apple, Pasmooij retired in 2021 after leading production operations for the iPhone.
Pasmooij has been advising established firms and start-ups on scaling supply chains and operations, says Hi-P. “His clients cover a broad set of industries, including energy storage, sustainable materials, semiconductors, consumer electronics, and AI applications in strategic sourcing”.
Commenting on the appointment, Hi-P executive chairman and founder Yao Hsiao Tung says: “Duco brings with him a wealth of experience in global supply chain management, especially in the high-tech consumer electronics sectors. His deep expertise in building and scaling supply chains will be invaluable to us as we map our strategy for greater global growth”.
Pasmooij is the second addition to Hi-P’s board since the company received $100 million from Temasek-backed 65 Equity Partners in July. 65 Equity Partners had appointed Lim Chin Hu, a board member of the Singapore Exchange S68(SGX) and ST Engineering, as its representative on Hi-P’s board.
Founded in 1980, Hi-P was listed on the SGX Mainboard in 2003. The contract manufacturer was privatized and delisted in 2021.
Hi-P provides its services to multinational firms in the consumer goods and electronics, e-commerce, and electric automotive sectors. Its clients include Amazon, Apple, Colgate-Palmolive, Dyson, Keurig Dr Pepper, Logitech, Meta, Motorola Solutions, Procter & Gamble, Seagate, and Tesla.
Hi-P said in July that it will work with 65 Equity Partners to develop plans for “a new strategic focus and leadership succession” for growth acceleration and sustainability.
Founded in 2021 as a wholly-owned subsidiary of Temasek, 65 Equity Partners currently manages both the Anchor Fund and the Local Enterprise Fund. The investment in Hi-P was made through the Local Enterprise Fund, a $1 billion joint initiative with the Singapore government, led by the Ministry of Trade and Industry, aimed at fostering the growth of large local enterprises.