Taking an elevator or escalator has probably become an integral part of our lives, but the companies behind them often go unnoticed. And that’s exactly what we’re going to talk about today.

Founded in 1910, KONE is a global leader in the elevator and escalator industry. It provides elevators, escalators and automatic building doors as well as solutions which can add value to the life cycle of any building. 

The firm has been present in Singapore since 1978 and is now one of the fastest growing elevator and escalator companies in the country, with its solutions present in major malls and infrastructure such as the Marina Bay Sands, the Circle Line and Jem. 

It is also diversifying beyond escalators and elevators to integrate robots in buildings. For one thing, the firm collaborated with Changi General Hospital and CapitaLand Investment to advance the integration of robotics in buildings. 

Question is – why is Kone diversifying beyond its traditional lines of business amid the Fourth Industrial Revolution? 

In the meantime, the firm had in July reported lower than expected second-quarter order numbers due to weather demand in its key Chinese market as low construction activity continues to weigh on demand for new elevators and escalators. But what is the situation like in Singapore?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Sylvia Koh-Gratton, Managing Director, KONE Singapore.