Financial Daily from THE HINDU group of publications
Saturday, Jul 10, 2004
Vedior to use Ma Foi for Asian expansion
Chennai , July 9
VEDIOR NV, a global leader in head hunting, aims to use its Indian subsidiary, Ma Foi Management Consultants, to develop its business in South-East Asia and West Asia.
Vedior's South-East Asian thrust has begun to take shape in the form of Ma Foi's plan to start operations in Malaysia.
Mr K. Pandia Rajan
The Ma Foi Managing Director and CEO, Mr K. Pandia Rajan, said that the company had applied for permission to start operations in the multimedia super-corridor in Kuala Lumpur.
He added that Ma Foi had also considered an expansion to Thailand and an addition to its existing presence in West Asia.
Vedior had formally taken 76 per cent stake in Ma Foi in May this year, following which it has three representatives in the five-member board.
Mr Brian Wilkinson
Mr Brian Wilkinson, the Ma Foi Chairman and Vedior nominee on the board, said: "Vedior's Indian plans are wrapped up with Ma Foi."
However, he did not rule out another Indian acquisition or an acquisition of Ma Foi's competitors in South-East or West Asia. "There is no harm in having multiple brands."
Mr Wilkinson said that Vedior's strategy was to buy successful businesses and let the existing management run the show. "Vedior is run as a federation, not a corporation," said Mr Pandia Rajan.
Ma Foi, which recorded a post-tax profit of Rs 2 crore (Rs 1.16 crore) on gross revenue of Rs 81.52 crore (Rs 47.95 crore), plans to concentrate on technology (IT & telecom), life sciences, oil and gas, healthcare and education industries in the current financial year.
Mr Pandia Rajan said the company planned to double the size of its 100-seater HR BPO, adding that the company was in talks with the Nagaland, Mizoram and Arunachal Pradesh Governments to provide career skill training to the youth and subsequently place them in jobs.
There is a shortage of mathematics teachers in England, and Ma Foi is working with it parent company, Vedior, to place Indian teachers there.
Mr Wilkinson said that Indian teachers are well recognised there for their qualifications and language skills. "Culturally and intellectually, there will be a good fit."
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