In the past, lifting hardware was broadly divided into 2 distinct groups. The expensive branded products which have high quality are mostly made in Japan, America or EU Countries, and the inexpensive unbranded products which are normally in low quality and they are mainly manufactured from Taiwan, Korea or China.

To address this wrong move, a group of friends, with years of experience in lifting and rigging hardware business, decided to band together to produce high quality products and yet at an affordable price to meet the market demand.

In 2005, Besteel Private Limited was incorporated with own brand: BST.

In 2009, Besteel Private Limited became an associated company of Teho International Inc Ltd, a listed company in Singapore Stock Exchange Catalist board.

In 2015, Henry S. Y. Ong bought out all shareholders and owned Besteel Private Limited.

In 2016, the company expanded and launch a new brand AMS to cooperate with new customers.