Gridwall Flipboard
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I was impressed by the following instructable and share my primitive one...
https://www.instructables.com/id/Easy-Store-Flipboa...
I don't know why I can't buy pegboard easily (also cheap) in Hong Kong.
Hence, I use Gridwall Mini Grid Panels as the flipboard and use Nylon Ties as the hinge joint.
All the things are mounted on Metal Frame Shelving Units and u can use all the gridwall accessory for holding tools...
Cheers.