Tata Consultancy Services (TCS), Asia's largest software and services consulting company, has incorporated a holding company, Tata Consultancy Services Asia-Pacific, in Singapore.
The new company will function as the headquarters for its operations in the Asia-Pacific region, which will now receive a special focus. TCS has invested more than Rs 18 crore in setting up the holding company.
Tata Consultancy Asia-Pacific will function as the headquarters for its key regional offices in China, South Korea, Taiwan, Malaysia, Australia and New Zealand.
It will also function as the hub of operations and the holding company for TCS subsidiaries in China, Japan and Malaysia. The Singapore office will provide the other offices in the region with operational support services and financial and business development functions.
'Investing in Singapore as the regional base of operations is in line with our next phase of business growth in the region," said S Ramadorai, chief executive officer of TCS.
To support its expansion plans in the Asia-Pacific, TCS has appointed a Singapore-based regional financial controller and a Singapore-based head of human resources. It has also established a recruitment desk in Singapore to tap the expertise of local software engineers. TCS has plans to recruit engineers from Singapore for its operations in India and China.
TCS has been servicing a number of clients like Singapore Airlines, Citibank Asia-Pacific, General Electric, Singapore Exchange, VISA and Standard Chartered Bank out of Singapore. It currently employs over 100 people in its Singapore operations.
TCS, which is expected to come out with its initial public offering next year, is embarking on a major overseas expansion. Over the last two years, it has set up close to 20 overseas development centres.