Could you introduce Project P3 and its international journey?
Launched in Singapore in 2011, we have established ourselves over more than ten years as a specialist in engineering and maintenance for pharmaceutical and water treatment plants. Now over 200 employees strong, we are expanding beyond our original borders to build a lasting presence in Australia and collaborate with strategic partners in Italy.
This global expansion is based on agreements with industrial giants, allowing us to offer integrated solutions combining mechanics, electricity and sustainability. By evolving from a local player into an international firm capable of managing complex construction projects, we meet the growing client demand for “all-in-one” services.
What were the key milestones in your international development?
The key steps involve, first and foremost, understanding compliance: the legal and regulatory requirements of the host country. The legal aspect is the most important, but the cultural aspect is equally essential: understanding cultural nuances, the operational framework, and so on.
In international development, understanding a partner company’s governance structure in order to evaluate it before collaborating remains essential. Finally, it is also necessary to identify client needs and understand the market in which they operate, so as to recruit the best engineers for these projects.
What was your most structuring decision?
There isn’t necessarily one single structuring decision. Often, the most important factor is talent acquisition, having the right people for the right project. That is where the greatest risk lies: if the right person is not recruited, the entire investment in the project can collapse.
Is there a country or market that has mattered most in your international development?
Australia is our most strategic market, thanks to an already solid presence and a very active local pharmaceutical network. Its geographic proximity to Singapore facilitates operational exchanges, unlike more distant destinations such as the United States.
The strength of the Australian currency and its parity with the Singapore dollar also guarantee high profitability and the financial stability essential for paying our teams and ensuring growth.
What has been your greatest difficulty internationally?
The cultural transition between the blue-collar workers from Malaysia, China and India and those in Australia. This transition can be a real shock, as it requires cultural adaptation from a physical, personal and behavioral perspective.
How do you concretely manage geopolitical risks in your international steering?
Between tensions in the Middle East and the economic slowdown, we must contend with external obstacles that are impossible to control. These crises drive up transport, energy and logistics costs, which inevitably reduces client budgets and slows our development into new markets.
Since it is impossible to stop wars or change the global economy, our strategy consists of remaining very attentive to these pressures to adapt operations on a day-to-day basis. A temporary strategy involves absorbing the rising prices of raw materials, labour and rent to protect clients from economic shocks. However, taking on these costs is not financially sustainable in the long term and requires total transparency regarding a future revision of interest rates.
What major shifts must SMEs integrate to adapt to the new international landscape?
Adapting requires rigorous cost optimization and a complete overhaul of internal processes. To limit losses and remain competitive, companies must analyze every step of their production chain to identify what can be outsourced or obtained at a lower cost.
This transformation demands great agility to simplify the organization and eliminate unnecessary expenses. Beyond managing sales prices, it is the efficiency of the internal structure that becomes the primary lever for surviving economic crises and the constant increase in overheads.
What model should be prioritized for international development in the future?
The future of international development relies on establishing partnerships and strategic alliances between small structures. By joining forces, modest players manage to create a stronger whole and gain greater influence in the market. This model of mutual collaboration is essential for transforming isolated entities into a collective force capable of competing with the largest players.
What role should a partner like Altios play to help you accelerate internationally?
A partner like Altios handles local compliance, payroll and administration, allowing us to focus on our core business. The future challenge is to transform this technical support into more advanced strategic guidance specific to each business sector. By providing industry expertise on training needs or precise industrial regulations, such a partner becomes a high-value-added growth lever.
How will you engage your teams in complex international projects in the future?
Employee commitment to international projects relies on a rigorous selection process and flawless support during expatriation. By relying on mobility experts to manage visas and legal constraints, we secure the employee’s journey and reduce the stress associated with change. This administrative fluidity is essential for talent to envision their mission abroad with peace of mind.
If you had 3 tips for an SME leader who wants to succeed internationally, what would they be?
First, demonstrate agility: It is essential to remain flexible and avoid an overly rigid vision in order to adapt to realities on the ground.
Then, secure your financial resources: Expansion requires a solid investment, often amounting to several hundreds of thousands of euros, to launch a viable entity.
Finally, understand local culture: Mastering the norms and codes of the host country is indispensable for properly integrating the company and its teams.
Learn more about P3 Project
