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Tata Group has opened its fourth international nodal office in Singapore to help group companies grow faster in ASEAN region (Association of Southeast Asian Nations).
Tata Sons the investment holding company of the group today said that it appointed K V Rao, a former civil servant of Singapore, as resident director for ASEAN – Tata Sons. Rao is also managing director of Trust Energy Resources, a subsidiary of Tata Power.
Tata Sons, the investment holding company of the Tata group, has established this office. “The office will further enhance and strengthen Tata Sons’ engagement with the stake holders in the ASEAN region facilitating Tata group companies’ growth,” said Tata Sons in a statement.
ASEAN comprises ten countries located in Southeast Asia including Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei ,Myanmar, Cambodia, Laos and Vietnam. More than 15 companies of Tata Group already has their presence in Singapore in diverse areas employing over 3,100 people and assets over $7 billion.
Tata Technologies, the engineering and design company of the group, has its headquarter in Singapore. Besides group firms such as Tata Motors and Tata Power have respectively made inroads in countries such as Indonesia and Vietnam.
“The nodal office will help in bringing more coordinated approach for group companies in the region,” said a spokesperson of Tata Sons. The group had its first such nodal office Tata Ltd started about a century ago in the UK. For the US the group has its nodal office under the aegis of Tata Incorporated. The group followed with establishing its nodal office for the Africa region Tata Africa.
The $100 billion Tata Group is aiming for $500 billion turnover target by 2022. This would require aggressive inorganic route across the globe to seek new opportunities. Group’s recent focus on Africa and ASEAN would help it achieve the same.
