Malaysia is the second largest revenue contributor for Bosch in Southeast Asia for the second consecutive year, said the Germany-headquartered technology and services provider.
When talking through details of the company's 2016 financial results, Bosch's Malaysia managing director Simon Song (pic below) said the end of year closing figure was RM610 million (133 million euros) in consolidated sales.
The company's headcount in 2016 also grew by 4 percent to about 2,700 associates, said Song, who also sees good opportunities for future business
"The progressive growth of the IoT (internet of things) industry means momentous change and huge new potential for businesses," he said. "In this area, Bosch is now making our products web-enabled and ready to provide our customers transformative solutions that help to make a difference in enhancing the competitiveness of their businesses. This will be key to Bosch to further our growth in the country."
"In addition to developing and offering connectivity-based solutions tailored to customer needs, we lead by example as users of connected technology with the gradual retrofitting of our manufacturing plants with Industry 4.0 modules to increase our efficiency and productivity," said Song.
In Asia Pacific, Bosch recorded an 8.3 percent increase in sales in 2016 to 20.8 billion euros (exchange rate adjusted +12 percent). Bosch now generates 28 percent of its total sales revenue in Asia Pacific compared to 27 percent in the previous year.
Investment in Malaysia
He also outlined the company's progress in Malaysia, emphasising strong investments - close to 138 million euros into the country in the past five years and more than RM160 million (35 million euros) alone in 2016 - to further strengthen Malaysia as a location for global manufacturing as well as research and development.
"To meet growing customer demand for our products, the increased investment was channelled into upscaling our production capacity," explained Song.
For example, the company directed investments into growing the engineering team of its Car Multimedia division, and enhancing manufacturing operations for its surface mount technology (SMT).
The new SMT facility, which was opened in March last year, aims to increase production volume to support rising market demand, as well as facilitate more research and development projects. The expansion will help Bosch to supply a broader array of services for customers locally, regionally and globally.
eCommerce and road safety
Song also pointed to Bosch's virtual store - eCommerce has been identified by government agencies as one of the key catalysts for Digital Malaysia - launched in Malaysia last year, "a first Bosch in Southeast Asia."
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