Wipro expanded in Southeast Asia and announced two agreements

BusinessTechnology


Wipro, a conglomerate based in Bengaluru, made headlines in Southeast Asia. Only in May did Wipro announce two agreements.
The first was in Thailand, where the information technology department had worked with the Thai central bank to explore with eight commercial banks the use of decentralized digital currencies, driven by blokcheyn technology handling instructions between banks and settlements.
Wipro’s statement on May 7 said: “Developed as part of the first phase of the Inthanon project, the solution would be to enable decentralized, interbank real estate (RTGS) settlement with the central bank (CBDC), to prove that Technology can perform important payment functions and improve efficiency. “
The Inthanon Project is an initiative of the Bank of Thailand, which began in August 2018 to test blockchain technology, to determine whether it can improve efficiency in the interbank payment system. Besides eight banks and Wipro R3 is a US-based software company based in New York.
CBDC is digital money which is the national currency of the country and can be issued by the central bank. At the same time, a number of appropriate physical currencies can be removed from the system at the same time.
In order not to be left at the same time, the Customer Service department reached an agreement with Ang-Hortaleza Corporation (AHC) Philippines.
AHC and Wipro Consumer Care (WCC) have signed a share purchase agreement to sell all AHC’s Splash Corporation personal care businesses. The purchase price is not disclosed.
Splash is a Filipino personal care and product company based in Bonifacio Global City, Tagig. The cosmopolitan city of Bonifacio is located about 16 kilometers south of the Philippine capital, Manila. It manufactures and distributes popular food brands such as Barrio Fiesta and Moondish, as well as well-known cosmetic brands such as SkinWhite, Flawless U, Maxi-Peel, Colors and Vitress. In the latest financial information available for 2017 financial year, he reported sales of $ 80.2 million with operating revenues of $ 4.6 million.
Nagender Arya, Regional Director, Wipro Consumer Care, said, “This is an interesting event for us, because our vision will be one of the top three players in personal care in Asia. This agreement gives us a leading market position in the Philippines. This Market is the acquisition of our eleventh and strengthens our commitment to continue investing in emerging markets and building a portfolio of local jewelry brands that are strong in terms of serving strong niches in each market. “

“The Splash brand overlaps with our portfolio in this region and provides a tremendous opportunity to continue to increase our production strength, R & D, and brand splash.”
WCC is part of Wipro Consumer Care and Lighting (WCCLG), one of two divisions of Wipro Enterprises (P) Limited. The other is Wipro Structure Engineering, the world’s largest independent hydraulic cylinder manufacturer, which supplies around 2 million cylinders to OEMs worldwide.
WCCLG is one of the fastest growing fast food companies in India. The company is highly represented in skin care and skin care products in Southeast Asia and the Middle East and employs 8,300 people worldwide in more than 40 countries. The WCCLG business includes the production and sale of body care and body care products, spas, electrical products and lighting, and modular office furniture.
Wipro Enterprises (P) Limited also has two affiliates – Wipro GE Healthcare Private Limited and Wipro Kawasaki Precision Machinery Private Limited. They are a joint venture with Kawasaki Heavy Industries, Ltd. (Japan) and GE Medical Systems Limited (USA). The first main activity was the manufacture and sale of hydraulic equipment for the construction industry in India. While the second partnership involves research and development of medical devices and health information solutions and services.
WCCLG is part of the Wipro Group of Companies, which was established in 1945 in Amalner, Maharashtra, as a producer of processed and vegetable oils called Western India Vegetable Products Limited.
In 2000, the Group registered its information technology, consulting and business services, such as NYSE Wipro Limited. It is also registered with BSE and NSE.
Wipro Limited, which employs more than 160,000 people on 6 continents, generated $ 8.5 billion in revenue in fiscal 2019, which ended on March 31. IT services generate revenue of $ 8.12 billion. His income was $ 1.3 billion, up 12.4 percent year-on-year.

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