Bosch sees fastest growth in S-E Asia

Bosch sees fastest growth in S-E Asia

SOUTH-EAST Asia was the fastest-growing market for German technology giant Bosch last year.

And in this red-hot region, Singapore was the biggest revenue contributor for the company.

Bosch makes a wide range of products, including power tools and industrial technology.

Sales by the company in the Republic surged 85 per cent last year from 2011 to $390 million.

Across the region, sales jumped 30 per cent to $1.13 billion.

And as business booms, Bosch is adding staff. Its regional headquarters in Singapore took on 7 per cent more staff.

Bosch also saw a similar manpower increase across South-east Asia, up 9 per cent. The fastest-growing markets, in staffing terms, were Indonesia, the Philippines and Vietnam, with jumps in headcount of more than 35 per cent each.

Bosch opened a representative office in fast-emerging Myanmar and expanded its presence in other regional markets.

Singapore is also home to Bosch's only research and development centre outside Germany for the business division.

Bosch South-east Asia president Martin Hayes said in a statement yesterday that he is pleased with its success in the region and Singapore.

"South-east Asia is currently the fastest-growing region for Bosch, and we expect to maintain this growth momentum and achieve double-digit growth for 2013," he said.

Bosch has five manufacturing plants in Thailand, Malaysia and Vietnam.

Sales revenue in the region increased across various business divisions, with the thermo-technology division recording the strongest growth of about 70 per cent.

The drive and control division doubled its revenue in Singapore owing to the marine and offshore industry, and it grew more than 60 per cent across South-east Asia.

Mr Hayes said: "We are upbeat about the potential that South-east Asia holds as a region, especially as members of Asean gear themselves towards the Asean Economic Community by 2015."

He added that the cost of labour and infrastructure build-up in the region makes it "globally competitive for manufacturing its products and components".

Globally, Bosch sales inched up by 1.9 per cent to $84.3 billion. Profit before tax was $4.5 billion.

Automotive technology is its largest unit and took in sales of $49.9 billion, a rise of 2.1 per cent.

Bosch expects a global sales growth of 2 per cent to 4 per cent this year.

rachaelb@sph.com.sg


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