SHANGHAI (Reuters) ? Diversified manufacturer Tyco aims to slash debt by about a third to $10 billion by the end of fiscal 2005, helped by a double-digit percentage jump in Asian sales this year, its top executive said on Wednesday.

Asia sales for Bermuda-based Tyco International Ltd., which makes everything from hypodermic needles to printed circuit boards, should grow faster than a forecast four to six percent increase in global revenues this year, chief executive Ed Breen told Reuters in an interview.

Booming demand for healthcare, electronics and construction materials, especially in Tyco?s top Asian market, China, would help Asia account for about a quarter of global turnover in five years, up from 14 percent now, Breen said.

Breen, 49, denied speculation he would take the top job at world number-two computer maker Hewlett-Packard Co., replacing an ousted Carly Fiorina.