Despite Global Travails, Innovation Remains Key, Malaysia Morale Still High

Philips Group of Companies Malaysia Managing Director Lee Weng Seong discusses:

- Its three global businesses of Consumer Lifestyle, Lighting and Healthcare;
- Its Malaysian presence since the late 1930s, extent of product line;
- Marketing, technical and application support as its main Malaysia roles;
- Philips investment in Malaysia and Penang LED factory;
- Malaysia market share, main competition;
- Global plan to lift margins to 12 percent by 2013, sales growth of 6 percent- achievability for Malaysia;
- Philips' culture of innovation;
- Huge competition from the Koreans, Japanese, German and American players;
- Whether expected deep cuts will affect R&D spend;
- Branding;
- Environmental push;
- When CFLs and LEDs might become affordable;
- Huge spending cuts (following its biggest losses in 10 years) and impact on morale in Malaysia.