|Tsinghua Tongfang to set up R&D centre in Singapore|
By Priyia Paramajothi, Channel NewsAsia | Posted: 31 October 2006 1623 hrs
The company has a global staff strength of 15,000 people and is projecting a revenue of US$1.3 billion this year.
The R&D centre in Singapore will be Tongfang's first of such facility in Asia, outside of China.
The work here will focus on two main areas – ‘information technology’ and ‘water and environment’.
About 30 staff will be hired by the end of next year, and staff strength is set to increase to about 100 in 3 years' time.
Tsinghua Tongfang says the R&D Centre should be up and running by early next year, with an initial research project on a building automation controlling system.
It plans to expand its presence in Singapore to include a regional operations centre for logistics and product development within a year.
Tim Liu, Vice-President of Tsinghua Tongfang, says: "Tongfang right now is still mostly domestic, it is about 90 percent domestic sales and close to 10 percent international. But we've seen our expansion to international grow at a much faster pace right now.
"So we foresee we will need an operations centre outside of China very soon. So we are starting with an R&D centre to get to know this market and this place, to know the people, and then naturally, we'll expand to operations." – CNA/so http://www.channelnewsasia.com/stories/singaporebusinessnews/view/238586/1/.html