Furuno Singapore was born on 2nd of April 2015 and became a new member of Furuno Family. Furuno Electric Co. Ltd, the parent company of Furuno Singapore, is a Multi National Company (MNC) and one of the leading manufacturer in Marine Electronics Industries. The company was founded in May 1951 and head quarter is in Nishinomiya-shi, Hyogo. The main products of Furuno are )Radar, Sonar, Fish Finders, GPS, Radio Equipment, Satellite Communication Systems and other Deep-Sea Products (Furuno.co.jp, 2016). As a part of the leadership function, subsidiaries and acquisitions are used to seeing in Multi National Companies. There are 23 branches all over the world and subsidiaries by Fruruo Electric. Furuno …show more content…
It may produce risk issue & may even cause to suffer a loss. Moreover, it could change a result of actions and Government policies, affect on all levels of business, which means the local level to federal level. Singapore is one of the best country to do business and it has strong, stable & very supportive political policies. Besides, Singapore is the 8th least corrupt nation and this index showing that Singapore has a strong legal framework and anti-corruption laws are effective (Gov.sg, 2016). Tax rates is the another important key point for Multi National Company (MNC) to start up business. From this point of view, Singapore position remains top, as the tax rates is very low. Those are the main reasons for Furno to decide to build business in Singapore for product deployment in the South East Asia …show more content…
Local companies are affected by local economic conditions, regional companies are affected by regional conditions and national companies are affected by national & international conditions. The quality of Singapore's economy market is one of the high grate developing market and Ministry of Singapore Foreign Affairs declare that Singapore is the third-richest country in the world base on the 2016 gross domestic product (GDP) index, which is per capita of US $ 56,700 (Mfa.gov.sg, 2016). However, global economy downturn strike all over the world and Singapore's economy market affected, too. Referring to Channel News Asia business report, Singapore economy grew up for 2016 first quarter (Q1) is 1.8% (Channel NewsAsia, 2016) & second quarter (Q2) is 2.2% (Channel NewsAsia, 2016) on a year-on-year basis. This index showing that the growth of Singapore economy is slowing down and all the business sectors are affected. As for the Furuno, which is the manufacturer of Marine products and service provider of the Offshore / Onshore, plunging oil price is the main issue and which is creating a challenging for the management