UK based technology company Dyson, know most for its house appliances, is set to move its global base to Singapore to support its manufacturing operations in Asia. Relocating its head office from Malmesbury, UK, both CFO Jorn Jensen and chief legal officer Martin Bowen are set to relocate to the Lion City. The move coincides with the company profits crossing the billion-dollar mark for the first time as the profits climbed 33% in 2018 to £1.1bn ($1.42bn). Dyson has seen soaring demands for its products in Asia.
According to Dyson chief executive Jim Rowan:
“We have seen an acceleration of opportunities to grow the company from a revenue perspective in Asia. We have always had a revenue stream there and will be putting up our best efforts as well as keeping an eye on investments.”
Dyson has remarked that no jobs would be lost and work would not be affected in Malmesbury. Dyson CEO further said that the move was not related to Brexit or tax as the company founder Sir James Dyson previously expressed support for the UK’s withdrawal from the EU.
Dyson Singapore Technology Center is expected to be double in size while the Malaysia Design Center will also enter the next phase, according to the company.
Headquarted in the UK up to now, Dyson develops and manufactures vacuum cleaners, hand dryers, fans, and motors. Founded by Sir James Dyson, Dyson also offers groom tools, vacuum cleaners for asthma and allergy sufferers, vacuum cleaners for pet owners, digital motors, and handheld vacuum cleaners.