
In a recent discussion with ComTech Advisory, Winson Low, Enuit’s VP Operations based in Singapore, provided an in-depth update on Enuit’s activities and strategic outlook in the Asia-Pacific region. This exchange, part of ComTech’s ongoing Vendor Perception Studies, highlights Enuit’s robust presence and optimistic future projections in this dynamic market.
Expanding Influence Across Asia-Pacific
According to Dr. Gary M. Vasey's latest report for ComTech, Enuit continues to assert its significance in the Asia-Pacific, especially with its substantial operations in China. The region's interest in Enuit spans across various sectors, including metals in Japan and the crude and petrochemical industries across the broader region. Winson Low shared, “The CTRM market in Japan is expected to strengthen, although current volatility in the Yen could impact the energy sector there.”
Demand for CTRM Solutions Across the Region
In Singapore, there is notable demand for refined product solutions, with medium-sized entities seeking robust risk and trade management systems. Interest is not confined to Singapore alone; it extends to Thailand, Indonesia, and the Philippines. “We recently acquired a large new customer in Thailand, reflecting the strong market demand,” Winson noted. This demand also encompasses growing sectors such as carbon and emissions management solutions, particularly as environmental considerations become increasingly critical.
Challenges and Opportunities in India and the Middle East
Winson also touched on the challenges and opportunities in India, acknowledging the pricing challenges but remaining confident in Enuit’s ability to deliver future-proof solutions, especially for major oil & gas companies. The Middle East continues to show strong interest in oil & gas CTRM solutions, aligning with global energy trends and the need for sophisticated trade and risk management systems.
Impact of Geopolitical Events and Trade Volumes
Increased trade volumes, driven by geopolitical events and market complexities, are highlighting the limitations of traditional systems like Excel and homegrown solutions. Winson pointed out that these challenges underscore the need for advanced CTRM systems that can handle increased market risks and complexities effectively.
Strategic Developments and Future Outlook
Enuit is not just maintaining but actively expanding its footprint in the region. With around 40 employees in China, despite the price-sensitive market, Enuit is making educational strides, including the upcoming release of a CTRM book in Chinese to help inform potential buyers about the value of sophisticated CTRM systems.
Looking forward, Enuit is strategically hiring to expand support and implementation capabilities and seeking partnerships with local consulting firms to enhance project implementations. “Looking to 2025, we see considerable opportunities in the region, though we anticipate potential challenges due to resource shortages,” Winson concluded.
For a more detailed understanding of Enuit’s impact and strategies in the Asia-Pacific region, you can read the full conversation on ComTech Advisory's website https://www.ctrmcenter.com/blog/enuit-upbeat-about-asia-pacific-region/
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