Bosch invests $92m on regional HQ
EDB: S'pore chosen for IP protection and availability of
talent
By NISHA RAMCHANDANI
GERMAN manufacturer Bosch is investing $92 million in developing
its regional headquarters in Singapore, which is expected to
facilitate expansion and growth locally, in South-east Asia as well
as the Asia-Pacific.
Speaking at the groundbreaking ceremony yesterday, Lim Siong Guan,
chairman of the Singapore Economic Development Board (EDB),
explained that Bosch chose Singapore on the back of Singapore's
strong intellectual property protection regime and availability of
talent.
'Besides local talent, Singapore's open immigration policy and
conducive living environment make it easy to attract global
research and business talent,' Mr Lim added.
The seven-storey building will cover a gross floor area of 225,000
square feet - around four times the size of the current Bosch
facilities - and is expected to be completed by the end of
2009.
The headquarters is being developed to match future growth and will
be able to accommodate 1,200 people. Bosch currently has 500 people
in Singapore and around 3,900 associates in South-east Asia.
Cem Peksaglam, president and managing director of Robert Bosch
(SEA), said: 'We have space to grow. In the beginning, we will rent
out one or two floors and later on take it over for our own staff.
We are also looking for interesting companies which fit very well
in our portfolio.'
In addition, Mr Peksaglam emphasised that the headquarters will
enable different Bosch divisions to interact better, increasing
productivity as a result.
The building will be designed to ensure energy efficiency,
resulting in energy savings of a minimum of 25 per cent compared
with a building of the same size. Some of the 'green' features to
be incorporated include energy efficient mechanical and electrical
systems and fittings.
Bosch is projecting sales (including internal sales) of an
estimated $1.4 billion for 2007. Sales to third parties this year
is expected to hit over $800 million, a 30-per-cent jump over the
2006 figure.
Recently, Bosch also decided to establish an R&D Centre for
Information Technology and a Regional Centre for Corporate Research
in Singapore, to cater to the Asia-Pacific region.