Ma Foi to start operations in Malaysia
12 August 2004
Chennai: The city based human resource (HR) service provider Ma Foi Management Consultants Limited is in the process of commencing operations in Malaysia via an wholly owned subsidiary- Ma Foi Malaysia Sdn Bhd.
The Malaysian company will offer HR business process outsourcing services focussing on HR information systems.
Meanwhile the Indian company's Singapore subsidiary — Ma Foi Management Consultants Asia Pacific Pte Limited- has entered the Thailand market with a hope to capitalise on the manufacturing, telecom, oil & gas and information technology sectors.
During the second quarter of the current fiscal the Ma Foi — the Indian parent company- has posted net revenue of Rs9.26 crore (gross Rs27.76 crore) as against Rs5.44 crore (gross Rs17.96 crore) posted for the corresponding period of the previous year.
According to the company, staffing solutions division contributed a lion's share as it witnessed a sharp growth in permanent and flexi-staffing businesses.