MANILA, Philippines—The London Stock Exchange-listed electronics reseller RS Components Pte. Ltd. expects a drastic growth in Philippine sales in the coming year, banking on the expansion of the country’s export and technology sectors.
In a recent briefing, the company said it would likely end its current April 2011 to March 2012 fiscal year with double-digit rate growth in sales. For the 11-month period of April 2011 to February 2012, the company said sales rose 17 percent, outpacing the rest of the region, which grew by just 12 percent.
This made the Philippines one of the fastest-growing markets for RS Components.
“Engineers in the Philippines have shifted their focus towards innovation and high value-added manufacturing and engineering activities, and we’ve noticed a similar purchasing trend based on the products that we currently supply,” RS Components Philippines general manager Glenn Lanot said.
He said these purchasing patterns, particularly in the manufacturing, power generation and oil and gas industries, showed a trend of companies wanting to automate more of their systems to cut costs and stay competitive.
“In the face of more global competition, Philippine manufacturers are automating so they can add value,” Lanot said.
Likewise, Lanot said the local exports sector, dominated by semiconductor manufacturers, would likely grow by as much as 15 percent this year, up from a 6.9-percent decline in 2011.
RS Components sells engineering components various and machine parts from various suppliers to engineering professionals. About 60 percent of its sales in the Philippines are done through its online portal.
Providing a wide range of components for the electronics and maintenance sectors, the company’s success is driven by a continued strong demand for automation and control products across the manufacturing, semiconductor and oil and gas sectors in the country.
RS Components has over 18,000 automation and control products stocked in Southeast Asia to meet demand.
“We serve over 3,000 active buying customers in the Philippines, including Nestlé Philippines, Sun Power Corp., Rohm Electronics, Coca Cola and Team Energy,” Lanot said.