General Electric Co., the world's second-biggest company, said its sales in Southeast Asia this year will outpace the region's economic expansion because of rising demand from industries such as water, aviation and energy.
The company expects sales to expand at two to three times the 5% projected economic growth rate in the region, Colin Low, GE's president for Singapore, the Philippines and Vietnam, told reporters in the city-state today. „What we see across the region is the opportunity for us to provide anything from 100-megawatt generators to huge power stations,” Low said. „In Indonesia, Thailand and Malaysia, there are huge opportunities for our water business. The needs are immense.” The company is expanding sales in Asia to broaden its revenue base across faster-growing regions. Fairfield, Connecticut-based GE got almost half its sales in 2006 from abroad, which helped to blunt the effect of the slowing economy in the US. (Bloomberg)