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SINGAPORE: Bosch ended its 2017 fiscal year with SGD 1.28 billion (EUR822 million) in consolidated sales in Southeast Asia – a healthy increase of 6.8 percent compared with the previous year. In Singapore, the company recorded SGD 162 million (EUR104 million) in sales revenue in 2017, remaining at a similar level.
“2017 was a successful year for Bosch in Southeast Asia as we made great strides towards our goal of being a leading supplier in the domains of urban mobility and the Internet of Things,” said Martin Hayes, President of Bosch in Southeast Asia. “Southeast Asia is an important growth market for Bosch. The region’s strong push towards digitisation is something we look forward to supporting through our connected products, solutions and services”.
Regional investments grew by close to 17 percent in 2017 to SGD 226 million. The main focus was on the expansion of manufacturing activities in Vietnam, and enhancing automated and connected manufacturing capabilities in Malaysia and Thailand.
Accelerating Smart Connectivity Efforts In The Region
At present, Bosch has already introduced several products and solutions in the region that show its expertise in the broad field of the Internet of Things (IoT). Bosch sees strong interest particularly in commercial building projects. Bosch Software Innovations, the company’s software solutions subsidiary with a development centre in Singapore recently launched the Bosch IoT Suite Portal and Developer Console. These platforms are the backbone in helping developers make buildings connected, easy to maintain and energy efficient. Data such as indoor air quality parameters, elevator or light monitoring can be easily gathered with Bosch sensors.
Connectivity also makes relevant system data quick and easy to access. For example, the company’s Thermotechnology division introduced the “MEC Remote” – a new IoT feature that enhances boiler accessibility, allowing users to monitor boiler’s performance at any place, any time and across different devices.
“We recognised the potential of connectivity early and have been actively shaping the connected world in Southeast Asia. Our aim in making improvements in people’s everyday lives through our expertise in hardware as well as in software now bears its fruit,” said Hayes. “Connectivity makes life safer, more convenient as well as making buildings and industries more efficient and resource conserving. We are seeing more and more new business models developing outside of traditional sectors, for example in connected manufacturing, agriculture and buildings.”
For the current business year, Bosch expects this momentum to continue in the region, especially as the company looks towards expanding its connected solutions in the manufacturing sector.