SMC Singapore and its regional offices of SAMVIP had enjoyed robust growth in the last 5 years. We have commenced our service support to the Cambodia market with our Representative Office on the 8 June 2016 in Phnom Penh.
In these countries, we have market share of more than 40% and are particularly dominant in the Singapore and Malaysia markets. This is in line with SMC global market share of more than 36%. Customers in general are requesting products that are, energy saving, light weight, smaller footprint and space saving. This in part is due to the awareness of saving the environment as well as to increase performance and efficiency of machinery. SMC had worked hard to meet these criteria and have introduced many newly improved products as well as new products with the latest technology in the last few years.
The Singapore front end semiconductor market is going through a correction as global demand for smartphones slows down even though there is an increased demand for electric vehicles. Coupled with the ongoing US China trade war, its impact on the world market is inevitable even if it may be short to medium term.
However, SMC remains optimistic in our region and expect sales to improve in most of these countries in 2019. We will continue our efforts to streamline our operations, improve our supply chain capability and further increase our technical support. We have invested heavily to expand our factories in Malaysia, Indonesia, Vietnam and Philippines. These will prepare us to shorten delivery and increase our competitive edge. Most importantly, our policy to invest on people will bring us long term benefits and it will continue to show in our service level to our customers.
I wish all our customers, suppliers, business partners and staff good health and look forward to another successful year together.