15 Feb '11, 4pm

Rolls-Royce opens global marine HQ in S'pore

Rolls-Royce opens global marine HQ in S'pore

SINGAPORE : Rolls-Royce on Tuesday opened its global marine business headquarters in Singapore. With the shift to this part of the world, the UK company said more than half of its annual turnover, or six billion pound-sterling, will be managed from Singapore. Market watchers said the move to Singapore makes sense because of the strong maritime opportunities here. Aircraft engines and fast cars are two of the things that Rolls-Royce is well known for, but now the British company is making a big push into the marine industry. And the timing may be just right. Singapore's Minister for Trade and Industry, Lim Hng Kiang, said: "The long-term prospects for this sector remain bright. In fact, we saw new orders coming in from the offshore sector, while the shipping sector saw freight rates rising on the back of the recovery in global trade. "However, even as prospects and opportun...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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