|Posted by Julien Casterede on March 10, 2014 at 2:20 AM||comments (0)|
Regional Director of Executive Education for Asia Pacific at INSEAD, Mary Kwan, discussed how Singaporean organization should undertakes detailed and considered preparation to ensure long-term success in China.
Click the URL to read this article : http://business.asiaone.com/sme-central/talking-points/doing-business-china-success-preparation
Click the URL to read more about : goo.gl/TFY7Ol
|Posted by thehrdiary on December 11, 2013 at 3:00 AM||comments (0)|
Thursday, November 14 2013, 10:54 AM
4 Big investors ready to leave Indonesia
Yoseph Pencawan, Arsyad Paripurna
BATAM--Indonesian Employers Association (Apindo) of Riau Island noted four large-scale foreign companies will relocate their industries from Batam City due to minimum wage hike and escalating labor protest.
According to the Chairman of Apindo Riau Island I.R. Cahya, those four companies are PT Becthel, Conocophillips, PT Smoe Indonesia and PT Siemens Hearing Instruments Batam.
“Several large investors want to leave this country, especially those four companies,” he said, Wednesday (11/13/2013).
PT Becthel is one of the companies operating in Kabil Industrial Park with 3,000 workers. The company engaging in oil and gas sector will relocate its industry to Thailand.
Based on Bisnis’ research, Becthel is one of five top construction and engineering companies in the US. The San Francisco-based company has a total of 53,000 workers within its corporate group in various countries.
Meanwhile, ConocoPhillipis Batam owns more than 1,000 workers in Kabil. It plans to relocate its industry to Johor.
PT Smoe Indonesia is also operating in Kabil. This oil and gas company from Singapore will also relocate its business, although it is still unclear where they will move to.
Meanwhile, the hearing aid company PT Siemens Hearing Instruments Batam that operates in Batamindo Industrial Park is getting ready to go out of Batam and even from all over Indonesia.
In addition to this relocation plan, Apindo Riau Island has also received accurate information regarding some investors who are delaying the plan to establish new entity or to expand their business.
|Posted by thehrdiary on December 11, 2013 at 2:40 AM||comments (0)|
GM to move intl HQ to Singapore from China
Updated: 2013-11-13 14:49
General Motors Co said on Wednesday it will move its international operations headquarters to Singapore from Shanghai in the second quarter of 2014.
The shift comes after GM split its China operations from its international unit earlier this year, saying that would make it easier to focus on the Chinese auto market, the world's largest.
The move is likely to come as a blow to Shanghai, which has been trying to compete with the likes of Singapore and Hong Kong as a place for multinational companies to base their Asia headquarters.
GM said it had considered other locations for the relocation and looked into keeping the headquarters in Shanghai, but eventually decided on Singapore.
"It offers several advantages, including greater proximity to key CIO markets such as ASEAN and India, the Middle East and Africa," said Lori Arpin, vice president of communications at GM International Operations.
Many multinational companies are lured to Singapore's shores by its competitive tax rates, use of the English language, skilled workforce and high standards of living.
Its headline corporate tax rate is 17 percent, though companies that base their regional headquarters there can benefit from a lower rate if they meet certain criteria such as providing jobs and spending a certain level of money in the city-state.
Singapore though, is one of the most expensive countries in the world in which to own a car and is not known as a major base for automakers.
General Motors said it would have about 120 employees in Singapore who would oversee "key parts" of the company's business in the Asia-Pacific region, Africa, the Middle East and Chevrolet and Cadillac Europe.
The new base though will house some of its sales and marketing, finance, government relations, human resources, IT and legal functions.
|Posted by thehrdiary on October 23, 2012 at 9:05 PM||comments (0)|
China the new battleground for coffee brands
China has become the new battleground for premium coffee brands, reported WARC market information service’s website Thursday.
Major coffee brand owners such as Nestle, Starbucks and Mondelez International are looking to tap China’s fast-growing number of coffee drinking consumers.
Nestle’s Nespresso upped the ante this year by launching special Nespresso machines designed in partnership with luxury retailer Shanghai Tang to commemorate the year of the dragon.
American coffee giant Starbucks is also planning to introduce its Verismo single-serve machine in China next year. The coffee chain added that it intends to have 1,500 stores in China by 2015, measured against approximately 650 at present. “We have an extremely ambitious development plan in China," said Belinda Wong, president of Starbucks China told BloombergBusinessweek. “China has been designated as our second home market outside of the United States. We believe China will become our largest market outside of the US by 2014."
Some of Starbucks’s coffee chain rivals in China include Costa Coffee, South Korean-owned bakery chains Paris Baguette and Tous Les Jours, as well as Hong Kong’s Pacific Coffee.
Another player in the coffee business, Mondelez International -- which controls the Tassimo brand, is considering entering the single-serve coffee market in China. “In cities like Shanghai and Beijing, a coffee shop culture is developing and there's a fertile ground for single-serve," said Hubert Weber, president of its coffee division.
According to China Daily Thursday, China's coffee consumption in 2010 was estimated to be 25,000 tons, as opposed to more than one million tons for tea.
This figure is expected to rise sharply in the coming years, given that the Chinese associate it with a trendy Western lifestyle. “In China, coffee is more like a symbol of Western affluence, friendship and a bridge in connecting the people," Raymond Tong, CEO of Pacific Coffee, the second-largest coffee chain in Hong Kong after Starbucks, told the daily.
London-based research company Euromonitor International, which estimated total turnover of China's market for coffee shops to be 3.5 billion yuan ($558 million) last year, expects coffee sales to triple to 10 billion yuan by 2016.
In addition, the Chinese are expected to become more sophisticated when it comes to drinking coffee, switching from instant coffee to freshly brewed coffee.
|Posted by thehrdiary on November 9, 2011 at 8:25 PM||comments (0)|
LG Mounts Push for Cash to Boost Smartphone Unit
By JUNG-AH LEE
NEW YORK NOVEMBER 4, 2011.
SEOUL—LG Electronics Inc. plans to raise nearly $1 billion in a stock offering, as the consumer-electronics company seeks to bolster its smartphone business and finance a plan to hire more workers.
News of the effort helped send shares in the South Korean company to their biggest one-day drop in more than three years Thursday. LG's stock price dropped 14% as investors expressed concerns about share dilution. The new shares will begin trading Jan. 9.
The fund-raising plan comes as LG, the world's third-largest handset maker by shipments behind Nokia Corp. and Samsung Electronics Co., tries to turn itself around amid a slowdown in demand for consumer electronics. LG has fallen behind global rivals such as Samsung and Apple Inc. in the smartphone industry, despite pouring a large amount of resources into its unprofitable handset unit over the past year to regain competitiveness.
LG said Thursday that it wants to secure $947.3 million to invest in key businesses, including smartphones. It plans to issue 19 million new common shares at 55,900 won, or almost $50 each, representing a 9% discount to their Thursday closing price of 61,600 won.
The handset unit has remained in the red for the past six quarters and has been a major drag on LG's earnings. The company swung to a net loss of 413.9 billion won for the three months ended Sept. 30, from a net profit of 7.6 billion won a year earlier. Its handset shipments fell 15% to 21.1 million in the third quarter from 24.8 million in the second quarter, while the unit's operating-loss margin widened to 5.2% from 1.7%.
LG's television business, which is faring relatively better than Japanese rivals, is also facing stiff competition amid falling prices of flat-screen TV sets. Rival Sony Corp., which competes with LG in the television market, said Wednesday it expects a loss of more than $1 billion in the fiscal year ending in March as its TV business struggles.
The handset and television businesses account for about 60% of LG's revenue.
Earlier this week, ratings firm Fitch cut its outlook on LG's credit ratings to "negative" from "stable," citing the company's weak operating results. Fitch also said LG's operational competitiveness is unlikely to make significant short-term gains.
"The mobile handset and flat-display panel businesses have failed to improve so far in 2011. Continuing subdued economies, mainly in Europe and the U.S., are likely to lead to weak demand for LG Electronics' products," Fitch said in a written statement.
However, Fitch expects LG to slowly improve its profitability and financial profile from 2012.
Write to Jung-Ah Lee at [email protected]
|Posted by thehrdiary on October 12, 2011 at 9:15 PM||comments (0)|
Nokia announces new organizational structure
May 11, 2010 By Posted By: Thomas Bloemer
Author: Thomas Bloemer
Nokia of Espoo, Finland, announced a simplified company structure for its devices and services business, which will become effective July 1, 2010. The move aims to accelerate product innovation and software execution in line with the company’s goals of integrating content, applications and services into its mobile computer, smartphone and mobile phone portfolio, the company said.
The new Mobile Solutions unit will concentrate on the company’s high-end mobile computer and smartphone portfolio. Based on both the MeeGo and Symbian software platforms respectively, these devices will be tightly integrated with Nokia’s Internet services to increase the combined value for consumers.
The renewed Mobile Phones unit will focus on maintaining Nokia’s position in the feature-rich mobile phone market and driving the direction of Series 40, the world’s largest mobile operating system. Both the Mobile Solutions and Mobile Phones units will have dedicated portfolio management, including product planning, R&D and dedicated software assets. The Markets unit will be responsible for Nokia’s ‘go-to-market’ activities, including sales and marketing, management of Nokia’s global supply chains and sourcing operations.
The organizational realignment includes also changes among Nokia’s senior executives:
The Mobile Solutions unit will be headed by Anssi Vanjoki and be comprised of MeeGo Computers, led by Alberto Torres, and Symbian Smartphones, led by Jo Harlow. As part of the Mobile Solutions unit, Services – led by Tero Ojanpera – will continue to develop Ovi as an integrated service into smartphones and mobile computers, and lead the development and deployment of new services into Nokia’s mobile phones. Nokia has also appointed Rich Green to the position of Chief Technology Officer, assuming responsibility for driving common technology architecture across Nokia. Green brings to Nokia comprehensive experience from his time in Silicon Valley, including a number of years at Sun Microsystems. He will report to Anssi Vanjoki.
Headed by Mary McDowell, the Mobile Phones unit will work closely with Services to add value to lower-end devices through offerings such as Ovi Life Tools, Ovi Mail, Ovi Store and Nokia Money.
The Markets unit will be headed by Niklas Savander and continue to focus on Nokia’s overall sales and marketing efforts, solution selling, transformation to digital marketing and consolidation and globalization of Nokia’s supply chain and sourcing.
Kai Oistamo assumes the role of Chief Development Officer and head of Corporate Development.
Rick Simonson, who currently heads Mobile Phones, has decided to retire from full-time duties at Nokia. He will also leave the Nokia Group Executive Board effective June 30, 2010. However, Simonson will continue as a senior advisor to Nokia, focusing on Nokia Siemens Networks, until the end of the year. Simonson will also remain a member of Nokia Siemens Networks’ Board of Directors after he leaves Nokia.
|Posted by thehrdiary on October 12, 2011 at 2:55 AM||comments (0)|
NEW YORK -- "The unique nature of 3M's business model lends power unseen elsewhere," said 3M chairman, president and CEO George W. Buckley as he outlined 3M's long-term strategy at an analyst conference at the Waldorf Astoria today.
Buckley, who joined 3M in December of last year, cited four main elements of strategic focus:
--Grow the current core business
--Complementary acquisitions to support both the core and expansion into adjacent markets
--Build new business via Emerging Business Opportunities (EBOs)
--Significantly increase investments in international opportunities
Buckley said the primary component of growing 3M's core is increased focus on existing customers. "We'll build first where 3M is strong, defend and expand market presence, and build size and scale," he said, "We will also grow through continuous invention and reinvention in our core businesses - the marketplace manifestations of 3M imagination and 3M innovation."
3M will also become more active in identifying and completing acquisitions to complement core businesses, usually in the form of smaller 'bolt-ons' to product lines or geographies. "In addition, acquisitions will help us enter adjacent markets and build business in new spaces more quickly," Buckley said.
Buckley announced the formation of several Emerging Business Opportunities (EBOs) - growth-oriented units to address commercial opportunities presented by the mega trends of society. "3M has enormous opportunity to flourish in high-growth spaces like track and trace, filtration________________________________________, energy and minerals extraction, and food safety," Buckley said.
Buckley said international growth plans include doubling investments in the developing economies of Brazil, Russia, India, China and Poland in the years ahead. "International remains our single largest growth platform and we intend to invest to fully capitalize on opportunities around the world," he said.
Buckley also recognized the gains 3M has made in recent years to improve its operating effectiveness, saying that Six Sigma and other performance initiatives are now "part of the fabric of the company."
"The productivity gains have enabled 3M to now tilt the balance in favor of growth," Buckley said. "I am absolutely convinced that 3M can grow faster while preserving our historically superior margins."
On April 24, 3M reported record first-quarter sales and profits with local-currency sales growth of over 10 percent and an earnings per share increase of over 20 percent. The company also raised its 2006 revenue growth guidance, and now expects full-year, organic local-currency growth of between 5.5 and 8 percent, up from a previous full-year organic local-currency growth expectation of 4 to 7 percent.
This news release contains forward-looking information (within the meaning of the Private Securities Litigation Reform Act of 1995) about the company's financial results and estimates, business prospects, and products under development that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic conditions; (2) competitive conditions and customer preferences; (3) foreign currency exchange rates and fluctuations in those rates; (4) the timing and acceptance of new product offerings; (5) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (6) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (7) generating less productivity improvements than estimated; and (8) legal proceedings, including the outcome of pending Congressional action concerning asbestos-related litigation and other significant developments that could occur in the legal and regulatory proceedings described in the company's Annual Report on Form 10K for the year-ended Dec. 31, 2005 (the "Report"). Changes in such assumptions or factors could produce significantly different results. A further description of these factors is located in the Report under Part I, Item 1A "Risk Factors." The information contained in this news release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this release as a result of new information or future events or developments.
About 3M - A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. For more information, including the latest product and technology news, visit www.3M.com.
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.