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The world's largest lock manufacturer, ASSA ABLOY, has chosen Hong Kong as its Asia Pacific headquarters and the first city in Asia to launch a "Security Centre" as part of its expansion programmes here.
ASSA ABLOY, based in Sweden, today (August 5) opened its first "Security Centre" in Asia in the busy Wan Chai district.
The "Security Centre", in contrast to the traditional hardware stores, features the full range of high security locking solutions available to both professional customers such as architects and interior designers and the general public with retail sales, customer service and product display.
The acting Director-General of Investment Promotion at Invest Hong Kong, Mr John Wan, was the guest of honour at the openingĄ@ceremony of the "Security Centre" in Wan Chai today.
The President and Chief Executive Officer of ASSA ABLOY Asia Ltd, Mr C K Jeang, explained: "Hong Kong is an important business centre for our company for two reasons - it is a rapidly growing domestic market, and it is also a launching pad for our expansion into China and the rest of Asia."
Mr Jeang said: "On the domestic front, we will open three to four more 'Security Centres' and expand our Industry and Production Sales Department over the next three years, generating about 25 jobs here. Initially we plan to invest HK$20 million in the local market."
On the regional front, he added, ASSA ABLOY's regional headquarters in Hong Kong will drive expansion in other Asian markets. This includes the conversion of 13 existing technical centres in China to full-fledged "Security Centres" in 2003.
ASSA ABLOY's Asia Pacific headquarters in Hong Kong oversees sales, marketing, financing, technology and business development in the region.
The company cited Hong Kong's prime location as the gateway to Mainland China; its low, simple and predictable tax regime; excellent banking and financial services; a versatile workforce coupled with entrepreneurial flair and enormous business opportunities in the region as major reasons for upgrading its Hong Kong office to regional headquarters earlier.
Speaking at the ceremony, Mr Wan said: "Security gives us peace of mind, which is something everyone needs. Hong Kong provides foreign investors the security they need through rule of law, level playing field, clean government, protection of intellectual property rights, protection of individual freedoms, and free flow of capital, information and goods."
"The peace of mind we offer makes Hong Kong the location of choice for over 3,200 foreign-owned companies with regional headquarters or regional offices in the SAR."
He continued: "I am glad to see that ASSA ABLOY and the SAR share the same 'security' and 'peace of mind' offering, and I would like to congratulate ASSA ABLOY for establishing here its first 'Security Centre' in Asia, as well as its choice of Hong Kong as the Asia Pacific headquarters."
Mr Wan commended ASSA ABLOY for taking part in the "Youth Work Experience and Training Scheme" launched by the Labour Department. Two young people will be employed as trainees in the Wan Chai "Security Centre" as well as the Mong Kok Main Office.
With annual sales of US$3 billion in the 2001-2002 fiscal year and over 30,000 staff at present, ASSA ABLOY is a key global lock group with 10 per cent world market share.
Invest Hong Kong is a Hong Kong Special Administrative Region Government department which spearheads the drive to attract foreign direct investment to the city. It provides assistance to corporations interested in investment opportunities here.
End/Monday, August 5, 2002
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