INSUBCONTINENT EXCLUSIVE:
Image copyrightGetty ImagesImage caption
Dyson makes a range of household appliances
Dyson has announced
that it is moving its headquarters to Singapore, from Malmesbury in Wiltshire.The move by the appliance maker means two executives will
relocate - chief financial officer Jorn Jensen and chief legal officer Martin Bowen.Other work at Malmesbury will not be affected and no
jobs will be lost.Chief executive Jim Rowan said it was not to do with Brexit or tax but added: "It's to make us future-proof for where we
see the biggest opportunities."He added: "We have seen an acceleration of opportunities to grow the company from a revenue perspective in
We have always had a revenue stream there and will be putting up our best efforts as well as keeping an eye on investments."We would
describe ourselves as a global technology company and in fact we have been a global company for some time
Most successful companies these days are global."British basesDyson already has a presence in Singapore and in October announced plans to
build its new electric car in its new factory there.Most of its products are designed in the UK, but manufactured in Asia.The company was
for the young undergraduates at its university on the same site."Malmesbury has been the epicentre for us and we will continue to invest all
over the UK," he added."The tax difference is negligible for us," added Mr Rowan, who confirmed that the company would be registered in
Singapore, rather than in the UK."We are taxed all over the world and we will continue to pay tax in the UK."Analysis: Theo Leggett,
business correspondentDyson's chief executive Jim Rowan said today he would describe the business as a global technology company
However, because its roots are in Britain and its founder Sir James Dyson has been a vocal supporter of Brexit, the decision to move its
headquarters to Singapore is likely to make political waves.In practical terms, the change is a minor one
Two senior executives will be transferred to the Singapore office, where the company itself will now be registered
There will be no impact on its 4,000 workers in Britain, and according to Mr Rowan, little impact on its tax affairs either
It will continue to invest in its UK research and engineering sites in Malmesbury, London and Bristol, as well as a new centre in
Hullavington, where it plans to develop a groundbreaking electric car
But the change is still highly symbolic
Dyson has made it clear its centre of gravity now lies in Asia, where it sees the biggest opportunities for growth
There may be business logic in the move - but as the UK struggles to define a coherent vision for its own future, it is unlikely to be
applauded here.Image copyrightGetty ImagesCompany founder Sir James Dyson has been in favour of Brexit, but Mr Rowan confirmed that
Britain's departure from the EU would have little impact on the firm and that they had not made any contingency plans."Only 2-3% of our
supply chain is in Europe and that goes east and not west
We do look for disruptions in the supply chain, but at this point in time, we don't foresee any issues with the movement of goods."Dyson
