Hydro Group, a subsea cable and connector specialist, has reported significant growth within its Asian division with a 300% increase in turnover from SGD 700k to more than SGD 2 million over the past two financial years.

Doug Whyte, Hydro Group managing director, said: “The industry has been facing unpredicted challenges, with operators and service companies alike adjusting to a new, lower oil price. Our Singapore base has been influential in identifying new opportunities, which have not only supported in expanding our service offering to new clients, but led to our most successful financial year to date.

“Our 2017 target turnover is in-line with these competitive market conditions and will be met through aggressive marketing in China and Korea.”

Hydro Group Asia plans to meet with members from Aberdeen City Council’s Scottish delegation during Offshore South East Asia (OSEA) 2016.

Part of the Council’s trade mission, the delegates are gathering market intelligence and establishing connections within the market to establish the potential level of opportunity for local companies in building trade links with Singapore, the company explained.

Whyte added: “OSEA has grown significantly over 40 years, and with an Asian subsidiary, the show provides the perfect platform for us to engage with new and old customers, identify and develop relationships with new suppliers and technologies, and access the market condition for future growth.”