French-based Bureau Veritas sets up regional HQ in Singapore

SINGAPORE - Bureau Veritas, a testing, inspection and certification agency listed on the Euronext Paris, opened its regional headquarters here at the Singapore Science Park II on Thursday.

The firm's new regional office will manage its operating subsidiaries across Southeast Asia, Australia and New Zealand.

This move comes at the back of bullish expansion plans for Asia, said chief executive Didier Michaud-Daniel.

In an interview with The Straits Times, he said that Bureau Veritas is looking at several prospective acquisitions in Asia, which are expected to become "fresh revenue generators".

Already, the group has completed 8 acquisitions this year that amount to more than 300 million Euros in annual revenues. Last year, Bureau Veritas bought into Singapore consultancy CKM Consultants with a 70 per cent stake.

Mr Michaud-Daniel said in a statement that he expects the company's Asian operations to feature prominently as a growth driver.

"(Our) acquisition strategy will enable the group to diversify its offerings to take advantage of the opportunities in new emerging markets particularly in Asia, in sectors like transport and energy infrastructures, and marine and offshore," he added.

Bureau Veritas Singapore was set up in 1973. It has a staff strength of more than 700 today.