SINGAPORE, Feb 23 – PanaHome Corporation today announced it will establish PanaHome Asia Pacific, a new regional headquarters in Singapore, effective April 1, 2015 to expand on its housing business in ASEAN.
In a statement, it said PanaHome, through its housing business, would contribute two trillion yen to the overall growth of Panasonic Corporation which has set a target of 10 trillion yen in consolidated sales for the financial year ending March 2019.
PanaHome aimed to account for a quarter of the targeted housing sales or 500 billion yen, of which 50 billion yen will be generated overseas.
To attain these goals, PanaHome, which currently has two bases outside Japan, one in Taiwan and the other in Malaysia, would accelerate its overseas housing business by expanding to cover the entire ASEAN region.
Starting with the smart town development projects, currently under negotiation in Indonesia, Vietnam and Cambodia, the regional headquarters would step up the development of its housing business in the Asia Pacific region.
The statement also said PanaHome Malaysia would concentrate in the Malaysian market and transfer projects it has been conducting in the ASEAN region to PanaHome Asia Pacific. (BERNAMA)