Apollo Tyres Ltd. has opened a sales office in Bangkok that will be the Indian tire maker’s hub of operations for Southeast Asia, which accounts for more than 40 percent of the company’s exports.
The opening of the Bangkok office to serve the countries of the Association of South East Asian Nations is the second regional office opening of the past two years. Mumbai, India-based Apollo opened an office and warehouse in June 2011 in Jebel Ali, Dubai, to serve customers in the Middle East.
Apollo said its revenue from sales throughout the ASEAN region has doubled in the past three years and it anticipates these revenues will continue to grow at double-digit rates the next several years. The company said it already has a “sizable” distribution network in ASEAN, without disclosing specifics.
“In the last few years, due to high customer satisfaction, the demand and acceptability of our tires has increased manifold in the ASEAN region,” said Satish Sharma, chief, Zone I, speaking at the recent opening of the office.
“We are looking at the Bangkok office to serve as a hub for an active sales and service team. This will allow us to meet customer expectations with greater ease and swiftness.”
Apollo estimates the ASEAN replacement market for commercial vehicle tires—where Apollo said it believes it enjoys a “clear product technology and service leadership position”—at 6 million units a year. The replacement consumer market, at 22.6 million units annually, is growing even faster, however, Apollo said.
The environmental case for remote working
Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.
Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI
The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.
The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.(more…)
Subscribe via Email
One-stop SME information portal connecting ASEAN businesses and beyond
The ASEAN Access is a flagship initiative of the ACCMSME, spearheaded by the OSMEP, Thailand and supported by the Federal...
Novo Nordisk certified as one of the Best Places to Work in Thailand
Novo Nordisk Thailand certified as one of the Best Places to Work. An exclusive interview with John Dawber, Vice President...
ASEAN and EU conclude the world’s first bloc-to-bloc Air Transport Agreement
The AE CATA is the world’s first bloc-to-bloc air transport agreement and will bolster connectivity and economic development among the...
Download 1xBet app and play all over the world
Whereas Singapore and The Philippines have lax gambling laws, Thailand has some of the strictest gambling laws in Southeast Asia....
Thailand confirms No Quarantine plan for Foreign Visitors under Phuket “Sandbox” Scheme
Phuket will be reopened to fully vaccinated international travellers without quarantine from 1 July, 2021, but ‘final’ official details are...