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Communications services and network solutions major BT said ‘Prosperity One’, its ambitious plan to rapidly upscale its business in the Asia-Pacific (APAC) region, was well on track at the halfway mark, despite global economic turmoil and a slowdown in some of the region’s major economies.
Announced in September 2010, ‘Prosperity One’ involved the addition of over 300 specialist hires in the region, as well as additional infrastructure and resources and an expansion of its portfolio of services.
Prosperity Two
With Euro zone in turmoil and the US in slow recovery, BT is turning its attention to the growth centres in other regions. ‘Prosperity Two’ is being rolled out in South America, with ‘Prosperity Three’ to follow, targeting West Asia.
For the year ended March 31, 2012, BT Group had revenues of $29.2 billion and profits of $3.4 billion. It has two joint ventures in India – BT Telecom India and Tech Mahindra, in which it holds a 24.4 per cent stake.
“Our increased focus is reflecting in our revenues and growth,” said Mr Kevin Taylor, President (Asia Pacific), BT, dismissing any impact of the global economic slowdown on investments in the region.
As part of its APAC thrust, BT announced the opening of a new Asia Pacific Health Practice to target BT’s healthcare IT activities in the region.
BT estimates the current health IT market in the region at over $2 billion in 2012-13, and growing at over 23 per cent per year. Globally, the health IT market is expanding rapidly, driven by ageing populations and chronic healthcare issues in developed economies and the adoption of costlier medical and drug innovations.
Earlier this year, BT was selected as the IT partner by the Farrer Park Company for Connexion, a new integrated healthcare and hospitality complex coming up in Singapore. Connexion is touted as the first new build aimed specifically at the booming medical tourism sector, and combines both modern healthcare and hospitality infrastructure under one roof.
Outlook optimistic
“We have made a great start and our customer-led investments have already begun to pay off with BT winning some key contracts. We will continue to differentiate ourselves through innovative and bespoke solutions,” Mr Taylor added.
While admitting that the recent slow down and “policy inconsistency” in India has worried foreign investors, he ruled out recent developments impacting BT’s India plans in any way. “We have been in India for a long time,” said Mr Taylor. “We will be growing faster than Nasscom’s estimate for the industry as a whole,” added Mr Sudhir Narang, managing director of BT India.
(The trip was sponsored by BT.)
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