Advanced ID Opens Asian Office
RFID-maker Advanced ID Corporation has gained approval for the incorporation of a subsidiary in Hong Kong, Advanced ID Asia Pacific Company Limited. The decision took effect on 20 June 2008, meaning Advanced ID has already opened its offices in Hong Kong led by its newly appointed managing director Cherry Lim.
Lim, 42, has spent her entire career working with companies that have innovative technology applications. With positions as chief executive officer and other executive management roles, she has concentrated in the fields of information technology, wireless technologies and integrated circuits. A Hong Kong native fluent in three dialects of Chinese and English, Lim was educated in the United States and received a Bachelors of Science from the University of South Florida, which was followed by an Executive MBA received from the Chinese University of Hong Kong.
“The establishment of Advanced ID Asia Pacific Company Limited in Hong Kong as our regional headquarters is the latest achievement within the successful execution of the Company’s international expansion strategy, particularly in the fast growing Asian market,” said Dan Finch, President and CEO of Advanced ID. “China has emerged as a leader in the implementation of RFID technology in the tyre sector and for other business applications. With the commencement of our new Hong Kong operations, we are now in a better position to handle the large and rapidly growing demand in China and other regional countries as well as to meet the needs of our pan-Asian business interests. To this end, we are pleased to have Cherry Lim, a proven executive with significant experience in managing emerging technology companies, join our team to lead our local efforts in Asia.”
In May Advanced ID announced international distribution agreements to bring its proprietary tyre products to India and Indonesia. This followed a landmark decision from Qingdao Mesnac Co., Ltd., a leading Chinese tyre production equipment and software maker with significant tyre manufacturing operations, to become the world’s first tyre manufacturer to commit to embedding Advanced ID’s RFID tyre tags in a commercial truck line. Mesnac is purchasing a minimum of 2 million RFID tyre tags and a quantity of RFID readers from Advanced ID.
Advanced ID first entered into the Asian market in late 2007 through a strategic relationship with Kit Loong Tyre Management of Malaysia. Kit Loong signed an exclusive, three year commitment contract for Advanced ID’s RFID and Pneu-Logic Tire Inspection products. Kit Loong is one of Southeast Asia’s largest tyre retreaders and tyre distributors, working with Goodyear, Dunlop, Michelin, Bridgestone, BF Goodrich, Pirelli, Continental Sime and Cooper Tire. As part of the agreement, Kit Loong agreed to an initial purchase of $1.8 million of Advanced ID tyre products. Kit Loong’s territory, covered by this agreement, includes Greater China, Malaysia, Singapore, Brunei, Thailand, Indonesia, Philippines, Vietnam, Cambodia, Laos and Myammar.