The Hindu Business Line : Ma Foi revamps board; plans to diversify into IT, BPO training

MA Foi Management Consultants Ltd, a recruitment services company, plans to expand its network in the overseas and domestic market and diversify into training in information technology, business process outsourcing and healthcare segments.

Addressing a press conference here today, Ma Foi's Managing Director, Mr K. Pandia Rajan, said that the company would add offices in eight more locations to the existing 35 in India and set up two offices, one in West Asia and one in South East Asia.

He said that following Vedior NV, the Dutch staffing company, taking a 76 per cent stake in Ma Foi, it has revamped its board to include directors from Vedior.

The reconstituted board took over from May 1, and Mr Brian Wilkinson, a director on the Vedior Board, is the chairman. Mr Pandia Rajan, till recently the chairman, is now the Managing Director and CEO. The others on the five-member board are Mr Colin Reader, head of Vedior's Mergers and Acquisition, London; Mr James King, a legal expert; and Ms Hemalatha Rajan (who along with Mr Pandia Rajan founded Ma Foi.)

According to Mr Pandia Rajan, Ma Foi's Indian operations will, however, be overseen by a six-member operating board that includes himself and Ms Hemalatha Rajan.

As a part of its expansion, Ma Foi is in discussions with a hospital chain to set up a facility to provide training in healthcare to potential recruits.

Life sciences, health care, education and energy segments are expected to be major growth areas in addition to its existing areas such as information technology, information technology enabled services, and telecommunication.

Through its subsidiary in South East Asia, Ma Foi Management Consultants Asia Pacific Pte Ltd, it has strengthened its operations in Singapore and established a presence in China, Malaysia, Indonesia, Thailand, South Korea.

The company has four overseas subsidiaries in Colombo, London, Dubai and Singapore.

Ma Foi reported a net revenue of Rs 27.06 crore, a 56 per cent growth over the Rs 17.29 crore in 2003-04 and profit after tax of Rs 1.54 crore against Rs 49 lakh in the previous year. Vedior is among the world's largest staffing companies with an annual business of euro 5,970 million in 2003 with operations in 35 countries.

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