Author: Rabindra

The Power of Digital Influence: How Influencers are Transforming the Entertainment Industry

By-Gaurav Bakshi, CEO and founder of a talent/influencer management firm

The entertainment industry has witnessed a seismic shift in recent years. What was once dominated by film stars, television actors, and musicians is now shared with a new breed of celebrities – digital influencers. These influencers have taken the industry by storm, leveraging social media platforms like Instagram, YouTube, and TikTok to build massive followings. But influencers do more than just entertain; they shape consumer behavior, influence trends, and have become integral to how brands approach marketing. According to recent reports, the global influencer marketing industry is projected to reach $24.1 billion by 2025, highlighting its massive impact. I, Gaurav Bakshi, CEO and founder of a talent/influencer management firm, have seen firsthand how digital influencers have revolutionized the entertainment landscape. In this article, we explore the rise of influencers, their role in entertainment, and what the future holds for them.

 Evolution of Entertainment
The concept of entertainment has evolved significantly with the advent of digital media. Traditional forms of entertainment like television, radio, and cinema were once the primary means of reaching mass audiences. Today, with the rise of digital platforms, these forms have either evolved or have been supplemented by new-age content creators. The internet has democratized entertainment, giving virtually anyone with a smartphone the ability to produce content and reach a global audience.

 For decades, celebrities—actors, musicians, athletes—held an almost exclusive domain over public attention. However, the rise of social media platforms disrupted this exclusivity, paving the way for influencers. Platforms such as YouTube allowed content creators to produce videos that rivaled traditional media, while Instagram and TikTok offered influencers the ability to engage audiences in real-time. These platforms bypassed the need for large production budgets, granting content creators the freedom to be their own producers, directors, and actors.

 As of 2023, YouTube has over 2.5 billion monthly users, while Instagram and TikTok boast 1.4 billion and 1.05 billion users, respectively. These numbers highlight the massive audience reach influencers can tap into, transforming them into powerful entertainment figures.

 Role of Influencers in Entertainment
The role of influencers in entertainment extends far beyond simply posting pictures or videos. They have become a crucial part of the entertainment ecosystem, often creating content that is more relatable and engaging than what traditional media offers. Unlike traditional celebrities, influencers build deeper connections with their audiences, often interacting with followers through comments, live streams, and personal messages. This engagement fosters a sense of authenticity, which can make influencers more trustworthy in the eyes of their followers.

 Influencers have expanded into various entertainment sectors, from beauty tutorials and gaming to lifestyle vlogs and comedy skits. Some influencers have even made successful transitions into mainstream entertainment, landing roles in movies and television shows. Lilly Singh, a YouTube sensation, is a prime example—transitioning from digital content creation to hosting her own late-night talk show on NBC. Addison Rae, a TikTok star, followed a similar path, leading to her starring role in Netflix’s “He’s All That.”

 Additionally, influencers often collaborate with brands to produce high-quality content that blurs the lines between entertainment and advertising. They are frequently seen at major industry events such as fashion shows, award ceremonies, and film festivals, cementing their place in the traditional entertainment landscape. In 2022, 65% of marketers increased their influencer marketing budgets, further highlighting the significant role influencers play in modern entertainment. These partnerships benefit both parties—brands tap into the influencer’s large, engaged audience, while influencers gain access to larger projects and higher production budgets.

 Engagement and Community Building
One of the reasons influencers have become so powerful in the entertainment industry is their ability to build strong, engaged communities. Unlike traditional celebrities who often appear distant or unattainable, influencers create content that feels authentic and accessible. They engage directly with their audience, responding to comments, taking requests, and sometimes even collaborating with their followers. This interaction fosters a sense of loyalty and trust that traditional celebrities often struggle to match.

 For example, YouTuber MrBeast is renowned for his highly engaging content, which includes philanthropy-based challenges and collaborations with his fan base. MrBeast currently has over 184 million subscribers on YouTube, and his recent charity campaign raised $30 million to remove trash from the ocean. This level of engagement encourages viewers to be active participants in the content rather than passive consumers, creating a deeper connection. The audience becomes part of the influencer’s journey, which makes their recommendations, whether for products, services, or even entertainment, far more persuasive.

 The numbers back this up. A report by Influencer Marketing Hub found that influencer marketing campaigns generate 11 times more ROI than traditional digital marketing. The sheer engagement that influencers command makes them indispensable in the entertainment industry.

 Business Perspective: Monetizing Influence
The rapid rise of influencers has fundamentally changed the way the entertainment industry approaches monetization. Social media platforms such as Instagram, YouTube, and TikTok have provided influencers with various revenue streams, including brand partnerships, sponsored content, affiliate marketing, and even merchandise sales.

 One of the most popular ways influencers monetize their presence is through brand partnerships. Influencers collaborate with companies to promote products or services, often creating sponsored posts or videos that integrate the brand seamlessly into their content. The authenticity of influencer marketing comes from the fact that 61% of consumers trust influencers’ recommendations, compared to just 38% who trust traditional ads.

 Affiliate marketing is another effective monetization tool. Influencers often share affiliate links for products they recommend, earning a commission on every sale generated through their referral. This strategy works particularly well for beauty influencers, tech reviewers, and lifestyle bloggers. For example, lifestyle influencer Chiara Ferragni reportedly earns over $8 million annually through brand collaborations and affiliate marketing.

 Many influencers have also launched their own product lines. For instance, beauty influencers like Huda Kattan, who has over 52 million Instagram followers, turned her online presence into a billion-dollar beauty brand, Huda Beauty. This direct-to-consumer approach allows influencers to monetize their followings in ways that go far beyond sponsored content.

 Influencer management firms like Gaurav Bakshi’s play a critical role in this ecosystem. These firms help influencers secure lucrative deals, negotiate contracts, and grow their brands. A recent report showed that top influencers can charge between $10,000 to $1 million per sponsored post, depending on their following, engagement, and niche.

 Challenges and the Future of Influencer-Driven Entertainment
While influencers have become integral to the entertainment industry, they face several challenges. One of the biggest is market saturation. With millions of people vying for attention on platforms like Instagram and TikTok, standing out has become increasingly difficult. Influencers must constantly innovate to keep their content fresh and engaging.

 Another challenge is maintaining authenticity. As influencers grow, the line between genuine content and paid promotion can blur, causing followers to lose trust. According to a report by eMarketer, 47% of consumers have grown skeptical of influencers who frequently promote brands, highlighting the importance of striking a balance between monetization and authenticity.

 Looking ahead, the future of influencer-driven entertainment appears bright but also uncertain. As platforms evolve and new technologies like virtual reality and AI emerge, influencers will need to adapt. Virtual influencers, such as Lil Miquela, an AI-driven digital persona with over 3 million Instagram followers, are already beginning to blur the lines between reality and virtual entertainment, offering a glimpse into the future of influencer marketing.

BPEA Credit Renames to Ascertis Credit, a New Identity to Align With Its Future Growth Objectives

Mumbai, October 16, 2024: BPEA Credit, a pioneer in performing private credit space in Asia, today announced its new identity as “Ascertis Credit.”

This change reflects the company’s continued commitment to build and operate a best-in-class private credit investment firm. The new name, Ascertis Credit, reflects the firm’s commitment to its legacy of domain confidence, professional expertise and strategic strength, coupled with robust risk management, aligning perfectly with its vision for future growth.

Ascertis Credit is one of Asia’s leading private credit platforms, having established its mid-market direct lending investment program over a decade ago. The firm has a proven track record of generating strong private credit investment returns through providing bespoke, non-dilutive growth capital solutions to the mid and large corporates in India and SE Asia. Recognized as an early mover in India’s private credit landscape, the leadership team is one of the most experienced teams with extensive credit experience in India, Asia and in global markets, and has successfully deployed capital across diverse market and valuation cycles. Ascertis Credit manages capital for marquee global pension funds and developmental financial institutions, and a diverse set of Asian and Indian financial institutions, and family offices.

Ms. Kanchan Jain, Head – Ascertis Credit said, “Our rebranding to Ascertis Credit reflects our commitment to growth, innovation and delivering superior value to our investors and portfolio companies. Performing credit in the high growth economies of India and SE Asia provides tremendous diversification benefits to investors coupled with attractive returns and strong liquidity, well insulated from market volatility and the risks of high valuations. It also addresses the need for longer term stable capital required for inclusive growth of the large economies of the region and enhances regional wealth creation through non-dilutive growth solutions.”

Ascertis Credit has raised 4 funds till date and invested over a billion dollars in performing credit. It will be raising its fifth fund soon, following the successful deployment of its current fund. Fund III had announced final close in June 2022 at US $600mn and represents one of the largest single-country performing credit funds raised in Asia.

Earlier in the year, Ascertis Credit launched its new income fund series, Select Short Term Income Fund – I (SSTIF-I), targeting a fund of INR 750 crore to invest in stable, shorter-term investments with regular income distributions to its investors. SSTIF-I announced its first close in June 2024 and is expected to announce final close soon.

This rebranding outlines the firms exciting plans in the realm of capital solutions and alternative finance, building on the existing foundation of its core values and investment focus. The firm continues to be led by its highly experienced leadership team that has been working together since its inception, managing its investment programs to deliver consistent and attractive returns to its investors.

La Pink announces Parineeti Chopra as Its Brand Ambassador

La Pink, India’s first beauty brand with 100% Microplastic Free Formulations celebrated for its unique, natural and innovative products, is excited to announce the onboarding of renowned actress Parineeti Chopra as its first-ever brand face. This partnership marks a significant milestone for La Pink as we continue redefining clean beauty standards and inspiring confidence among women nationwide.

 La Pink entered the market with 17 products in 2023 and now has more than 60 products in its portfolio. Entirely relying on customer feedback, be it packaging or formulations, La Pink has always been customer-centric and dedicated to bringing revolutionary, impactful, innovative products to the Indian mass consumer. In a quest to find the perfect face that resonates with La Pink’s personality, the brand found its ideal match with Parineeti Chopra, an actor, entrepreneur, philanthropist, singer and above all, an empath.

“Her smart and aspirational approach to self-expression blends effortlessly with our belief that beauty should reflect your true self. As a passionate advocate for social change, Parineeti’s support for initiatives that uplift women and foster self-love resonates deeply with La Pink’s mission of giving the best to the community. We are thrilled to collaborate with her to encourage our community to embrace their individuality and celebrate their unique beauty with only the best of natural ingredients.” said Mr Nitin Jain, Founder and Director of La Pink- India’s first beauty brand with 100% Microplastic Free Formulations.

As La Pink continues to revolutionize the Indian beauty industry, the brand is thrilled to have Parineeti Chopra as a partner in its mission to inspire conscious beauty and create a healthier future for both consumers and the planet.

 Parineeti Chopra, Brand Ambassador expressing her excitement about joining La Pink, said, “When I came across La Pink, the concept of being microplastic-free instantly caught my attention. While there are many natural and organic skincare brands, very few are discussing the harmful effects of microplastics on our skin and the environment.

 That’s why I knew I had to participate in this mission. Indian consumers deserve to know about these ingredients and make informed choices. La Pink’s products, like the Ideal Bright Serum and Vitamin C Sunscreen, have become my go-to essentials. They repair, nourish, hydrate, and maintain the skin’s pH balance, all while being completely free of microplastics. This is exactly what modern skincare should be—unique, natural, and innovative. I’m excited to be associated with La Pink and hope this collaboration will inspire people to embrace mindful beauty choices for healthier skin and a better planet.”

Mother Dairy Signs Up as official ‘Dairy Partner’ For Pro Kabaddi League 2024

Mumbai, October 16, 2024: Mother Dairy, India’s leading milk and milk products major, has today announced its official association as the ‘Dairy Partner’ for the upcoming 2024 season of the prestigious Pro Kabaddi League. As part of this collaboration, Mother Dairy will be actively involved throughout the season, engaging with fans and consumers through various initiatives and promotional activities designed to enhance the excitement surrounding the sport.

Speaking on the association Mr. Manish Bandlish, Managing Director, Mother Dairy, said, “We are excited to be part of Kabaddi, a sport that is deeply embedded in India’s culture and heritage. This collaboration is a perfect fit for our brand, offering us a unique opportunity to engage with our consumers and the passionate Kabaddi community across the country. By bringing together the power of dairy nutrition and the dynamic energy of Kabaddi, Mother Dairy aspires to promote the growth of the sport while fostering a culture of health and wellness nationwide.”

Mother Dairy, as the official ‘Dairy Partner’ for the upcoming Pro Kabaddi League season will maintain a significant presence of brand and product portfolio at match venues and on official broadcast channels, while also engaging consumers across various platforms, including digital media.

Mr. Bandlish further added, “Mother Dairy has found a strong synergy with sports and its enthusiastic community, as seen in our previous association with cricket. With this association, we aim to further expand our reach into focus markets and households of untapped or potential consumers, enhancing our brand’s top-of-mind recall.”

“Today, the Pro Kabaddi League (PKL) has firmly established itself as India’s second most-watched sporting event, commanding an impressive 70% of the IPL’s audience. This rapid growth is a testament to the league’s fierce competitiveness, unyielding sportsmanship, and its broader impact on promoting physical well-being. We are thrilled to welcome Mother Dairy as a key sponsor, perfectly aligned with their mission to champion good health and vitality. This collaboration marks a significant step forward for both brands, and we look forward to a strong and fruitful association,” said Ajit Varghese, Head of Network Ad Sales, Disney Star.

The 2024 Season will feature a total of 12 teams competing for this year’s title. The league is scheduled to kickstart from October 18, 2024, with series of matches in Hyderabad, followed by Noida and Pune. Since its inception, the league has set new standards with packed venues and record viewership, becoming one of the most popular leagues in the country.

Tablesprint Secures Dollar1M to Enable Affordable AI-Powered App Development for Enterprises

Bengaluru 16th October 2024: Tablesprint, an AI-powered no-code app builder, has raised around USD 1 million funding round led by a group of prominent angel investors and syndicates including Ankit Bhati (Co-Founder, Ola), Ajeet Khurana (Founder, Reflexical), Sunil Sharma (CEO, Coingape), BlueLotus Ventures, TDV Partners, DGC Ventures, and Abhijeet Bhandari (Advisor-startups).

This funding will enhance Tablesprint‘s offerings, helping the company strengthen its team and drive product development, furthering its mission to empower enterprises with no-code, future-ready apps at a fraction of the cost and time typically associated with traditional app development.

Tablesprint offers an AI-first Saas platform that enables companies to build intuitive apps and playbooks across business verticals. The no-code platform offers customizable building blocks like AI Write/Image, Forms, Workflows, Kanban, and Charts, which can be tailored to specific business processes like Sales, Orders, Purchases, HR, and more.

Companies have the flexibility to start with simple use cases—such as surveys, forms, payments, notifications, product catalogs, employee onboarding, or HR document storage—and scale up to full business workflows like managing end-to-end sales processes. Tablesprint also provides pre-built playbooks, such as ‘Hire to Retire,’ ‘Order to Cash,’ and ‘Procure to Pay,’ which have pre-built modules for the complete business workflows.

For example, the ‘Hire to Retire’ playbook has pre-built app functionalities for the entire employee lifecycle, including document management, recruitment, onboarding, leave and timesheet tracking, office shift scheduling, and exit procedures. Companies have the flexibility to use these pre-built playbooks or create their own to meet evolving needs. This approach allows enterprises to adapt and improve their systems over time, ensuring operational efficiency and scalability.

Tablesprint fills a critical gap in the enterprise software market by tackling the inefficiencies of traditional Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems, which often operate in silos. These legacy systems frequently present challenges with usability and complexity, leading to low adoption rates. According to Gartner, only 35-40% of ERP and CRM user licenses are typically utilized, with implementation success rates below 60%.

“We are building an AI-powered platform that helps enterprises go live in minutes, not months. By delivering a consumer app-like experience for enterprise use cases, we enable simple workflows to scale into complex, enterprise-grade systems, allowing businesses to adapt and grow seamlessly.” said Abhijeet Kumar, Co-Founder and CEO of Tablesprint. He has previously co-founded RainCan, a B2C subscription startup that was acquired by BigBasket and rebranded as BBdaily.

Along with his former BigBasket colleague Chirag Jadhav, the duo started Tablesprint in early 2024 to address the growing challenges of enterprises in HR, sales, and operations. Abhijeet’s prior experience at Oracle Development and Enterprise Application Consulting provided him with deep expertise in supply chain management, which has been instrumental in creating Tablesprint’s intuitive playbooks.”Creating a truly multi-tenant system that resonates with both developers and business stakeholders is a significant challenge. We are excited with our progress so far and look forward to tackling more challenges ahead on this journey,” said Chirag Jadhav, Co-Founder and CTO of Tablesprint.

Tablesprint’s clients include large enterprises like Flipkart and startups in the wealth management space such as Elever. The platform is also running pilot programs with medium and large global enterprises across industries such as manufacturing, distribution, and investment management.

“We are excited to back Abhijeet Kumar and the Tablesprint team, who have proven their ability to build, iterate, and execute at scale. At BlueLotus Ventures, we support gritty founders who are building high potential companies.We see enormous opportunities for companies enabling SMBs in a thoughtful way. This fundraise marks the first milestone in creating what we believe will be an exceptional global product company from India”, said Uday Arya, Co-founder and Partner at BlueLotus Ventures.

Currently, Tablesprint is looking to onboard creators, influencers & partners who can hand hold clients to enhance user experience and expand its reach in the no-code app development market.

Fortis Gurugram Launches Dedicated Geriatric Clinic to Promote Healthy Aging and Specialized Elderly Care

Gurugram, 16 October 2024: To address the health needs of the elderly and vulnerable population and promote healthy aging, Fortis Memorial Research Institute, Gurugram has launched a dedicated Geriatric Clinic for individuals over 60 years of age. The clinic offers comprehensive care for a range of age-related ailments, along with preventive services such as elderly vaccinations, bone health screenings, and cancer screenings. The clinic operates from Monday to Saturday, 9:00 am – 5:30 pm.

The elderly patients can consult doctors at the clinic for a wide range of health concerns such as constipation, urinary incontinence, frailty, sarcopenia, mobility, nutrition, vision and hearing impairment, rehabilitation services. Outpatient care is also available for chronic conditions such as hypertension, diabetes, thyroid problems, joint pains, vertigo, dizziness and fatigue. Additionally, the clinic provides emergency and acute care services to the elderly requiring admission for various infections, altered mental status and other medical ailments requiring admission to the ward or ICU care.

Dr Satish Koul, Senior Director, Internal Medicine, Fortis Memorial Research Institute, Gurugram said, “Geriatrics clinic is the need of the hour with more than 10% of India’s population above 60 years of age, the numbers are expected to increase by 41% every decade. Keeping in mind the ever-increasing numbers, need for special care of the elderly and the unique challenges they face with the increasing age; we have embarked upon this journey of Geriatric Clinic as a new pillar in healthcare”

Dr Rahul Bhargava, Principal Director & Chief-Haematology, Haemato Oncology & Bone Marrow Transplant, Fortis Memorial Research Institute, Gurugram said, “It is imperative to ensure that our elderly population has access to quality care to live healthy, dignified and fulfilling lives. We are pleased to launch a Dedicated Geriatric Clinic alongwith a Dedicated Helpline Number. Currently, there is a dire shortage of geriatricians, and Fortis is one of the first hospitals to identify the need for a specialist clinic to cater to the needs of this growing population.”

Yash Rawat, Facility Director, Fortis Memorial Research Institute, Gurugram said, “Ensuring that our elderly population has access to the quality care and support they deserve, the launch of the new geriatric program, is a crucial and a timely initiative. This clinic is specifically designed to address the unique needs of older adults, providing comprehensive management of their health conditions and empowering them to lead healthier, more vibrant lives.”

Col R K Sharma, President, Federation of Senior Citizens Welfare Forums, Gurugram said “Elderly and ageing populations should be viewed as assets rather than liabilities. This is a great initiative and we are thankful to Fortis Hospital for coming up with this clinic. Geriatric clinics are essential for providing specialized care to the growing elderly population. These clinics offer comprehensive healthcare services tailored to the unique needs of older adults, addressing both physical and mental health concerns. By providing regular check-ups, screenings, and specialized treatments, geriatric clinics can help improve the quality of life for the elderly. Additionally, this clinic provides social support and counseling, helping to address the emotional and psychological needs of older individuals and their families.”

Freudenberg Expands Operations with New Manufacturing Plant in Morinda, Punjab

Morinda, Punjab – 15th October 2024: Germany-based global technology conglomerate, Freudenberg Group, has officially inaugurated two advanced manufacturing facilities in Morinda, covering a total built-up area of 40,700 sq. m. These state-of-the-art plants are operated by Freudenberg-NOK India Pvt. Ltd. (FNI) and Vibracoustic India. The strategic move consolidates the company’s operations from its existing plants in Basma and Mohali, aimed at enhancing production efficiency and supporting Freudenberg’s long-term growth plans in India.

Freudenberg’s investment of over €42 million in the Morinda facility marks the company’s largest financial commitment in India to date. The new plants are equipped to serve both domestic and international markets, reinforcing Freudenberg’s dedication to India’s “Make in India” initiative. The facilities will cater to key sectors such as automotive and industrial manufacturing, ensuring the company remains competitive by optimizing material flows and leveraging modernized equipment.

Speaking at the inauguration, Dr. Mohsen Sohi, CEO of Freudenberg Group remarked, “Our investment in the new facilities in Morinda reflects Freudenberg’s strong commitment to the Indian market and the ‘Make in India’ vision. This expansion not only aligns with our global growth strategy but also boosts our ability to serve customers with greater efficiency, innovation, and quality. As we celebrate 175 years of Freudenberg’s legacy of excellence, we are proud to further strengthen our presence in India.”

Sustainability is a core focus of the new facilities. Energy-efficient machinery and eco-friendly practices, such as photovoltaic cells that supply 15% of the plant’s energy needs and water-recharging stations, have been incorporated to reduce the environmental footprint.

Mr. Sivasailam. G, Managing Director at Freudenberg Performance Materials India and Director & CEO of Freudenberg Regional Corporate Center India, added, “The inauguration of our new manufacturing plants in Morinda showcases our long-term commitment to sustainable growth in India. By bringing our operations together in this advanced facility, we aim to create new job opportunities and nurture local talent. This investment helps us better serve our customers across different industries, offering high-quality products and solutions made in India for both domestic and international markets.”

Freudenberg’s expansion in Morinda is set to generate significant job opportunities, with plans to grow the local workforce by 20%, adding approximately 200 new positions. The site will also serve as a global engineering hub, attracting top talent from regional universities, particularly around Chandigarh.

Freudenberg Group is celebrating 175 years of success, with 52,000 employees across about 60 countries and nearly €12 billion in sales, overcoming various crises, wars, and economic challenges. The company operates in around 40 different market segments. Over the past 175 years, Freudenberg has built a legacy of industrial growth, guided by its values and responsible practices.

Capital-A Elevates Aswani Chaitanya to Partner Amid Significant Growth Phase

Bengaluru, 16th October 2024: Capital-A, a Venture Capital fund for seed to early-stage start-ups, announced the elevation of its VP of Investments, Aswani Chaitanya, to the role of Partner. This strategic move is part of the firm’s broader efforts to expand its influence across high-potential sectors such as manufacturing, deeptech, climate, and fintech.

As Partner, Aswani will work closely with Ankit Kedia, Capital-A’s founder, to develop investment strategies, lead fundraising initiatives, and enhance portfolio management. His significant contributions to the success of Capital-A’s Fund I, which supported high-impact start-ups like Chargeup, Tan90, Bambrew, Jiraaf, and Leumas, demonstrate his extensive expertise and proven track record in driving venture success.

In 2024, Capital-A launched Fund II with a targeted corpus of INR 400 crore, planning to invest in 17-20 innovative companies. The fund will provide initial investments of $750K to $1 million, with a total commitment of up to $3 million per start-up. This initiative reflects Capital-A’s commitment to fostering sustainable innovation and supporting enterprises that are set to redefine their industries.

Ankit Kedia, Founder and Lead Investor of Capital-A, commented, “With Fund II deploying capital, Aswani’s promotion strengthens Capital-A’s strategic growth. His expertise aligns with our focus on high-impact sectors, ensuring financial success while driving transformative change and creating lasting value for society and the environment.”

Aswani Chaitanya, newly appointed Partner at Capital-A, stated: “I am excited to assume this role at Capital-A. My focus will be on driving value for our portfolio companies as they scale, and I look forward to collaborating with the team to advance the success of both Capital-A and the innovative start-ups we support.”

Aswani brings over 15 years of corporate experience to his new role, having held positions at esteemed organisations including Wipro, Deutsche Bank, and Goldman Sachs. His entrepreneurial journey began with a D2C brand, Timios, a healthy snack brand for children, which he scaled and divested to FirstCry in 2021 before transitioning to Capital-A.

Eaton and SIAEC announce key milestones for joint venture

INDIA, 16 October 2024 – Intelligent power management company Eaton and SIA Engineering Company Limited (SIAEC) unveiled the logo for their joint venture, Eaton Aerospace Component Services Asia Sdn. Bhd. (EAS), at MRO Asia-Pacific today. Chin Yau Seng, chief executive officer of SIAEC, and Desmond Goh, managing director, Asia-Pacific, for Eaton’s Aerospace Group, representatives from the Malaysian Investment Development Authority (MIDA), as well as industry partners and stakeholders, attended the event to commemorate the milestone.

The new logo represents the branding of the joint venture as “Eaton Aero Services”, and signifies the partnership of two industry leaders dedicated to providing reliable, customer-focused solutions to clients in the Asia-Pacific region.

This logo unveiling follows the groundbreaking of EAS’s new facility in Shah Alam, Selangor, Malaysia, on 23 September 2024.

EAS will specialize in inspecting, testing, repairing, maintaining, modifying and overhauling Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulics systems.

EAS is scheduled to be fully operational within the next 18 months and is expected to significantly contribute to the local economy by fostering industry growth and strengthening the region’s position as a hub for maintenance, repair, and overhaul (MRO) services.

Datuk Sikh Shamsul, chief executive officer of the Malaysian Investment Development Authority (MIDA), applauded this partnership as an important landmark for Malaysia’s aerospace industry.

“The unveiling of Eaton Aero Services’ logo and the groundbreaking of its new facility in Shah Alam marks a major milestone in our nation’s aerospace development,” he said. “This joint venture between Eaton and SIAEC is a ringing endorsement of Malaysia’s aerospace ecosystem, skilled workforce, and business-friendly environment. It is a testament to the Malaysia Aerospace Industry Blueprint 2030’s strategic objectives and a vote of confidence in our country’s ability to attract foreign investment.”

“Our joint venture with SIAEC will offer best-in-class MRO services with the highest standards in quality and efficiency, and local support, to customers in Asia-Pacific region,” said Desmond Goh, managing director, Asia-Pacific, for Eaton’s Aerospace Group. “This marks the start of a new journey for both companies, joining hands to expand the MRO services to customers in the Asia-Pacific region.”

Dr. Bernd Riggers, senior vice president, Component Services, SIAEC said, “The quick progress made so far in this joint venture is a testament to our mutual commitment to exceed our customers’ expectations with top-quality services and efficiency. This collaboration marks a crucial advancement in expanding our expertise in aviation component repairs, enhancing our service portfolio and driving regional growth.”

The foregoing events are not expected to have a material impact on the net tangible assets per share or the earnings per share of the SIAEC Group for the financial year ending 31 March 2025. None of the directors and controlling shareholders of SIAEC have any interest, direct or indirect, in the foregoing events other than through their shareholdings (if any) in SIAEC.