The Hindu Business Line : Ma Foi set to expand global presence

The Managing Director and CEO, Mr K. Pandia Rajan, told Business Line that the company would establish its own subsidiaries in Hong Kong and China, while entering into a tie-up with a company in Thailand during the first quarter of 2007 (January-March).

Its plans for the second quarter include the setting up of a wholly owned subsidiary in Germany while aligning with a company in Kuwait. It will establish presence in Canada and Manila during the third quarter before focusing on Pakistan, where the company has already established a relationship.

"We want to be the market leaders at least in three of these countries,'' he said, adding that Ma Foi was also eyeing countries such as Vietnam and Brunei for extending its presence. Its office in Doha is to become operational soon.

On performance, he said the company's top line grew to Rs 213 crore last year and it hoped to reach Rs 340 crore this year. "Measuring by the service tax paid, our market share in this space at present is about 6 per cent. We are registering a 75 per cent growth year-on-year,'' he said.

Staffing business

The company's staffing business has zoomed to close at over 11,975 permanent placements between June and September 2006 and taking the total placements to cross the 1.09-lakh mark. "The boom in the energy, financial and banking services industries has triggered recruitments. While we continue to focus on the IT and ITES industry, the revenue streams from other industry verticals such as banking, insurance, manufacturing, energy and infrastructure have been stronger than ever before,'' Mr Pandia Rajan said.

Developments

Commenting on the developments, he said: "Our monthly placement in different companies that seek our service is about 5,500. At the current growth rate, rejuvenation of employment exchanges is possible.''

The company has bagged substantive assignments from at least three state Governments. "This is happening as we see the public systems in the country getting more professional in their approach. The Tamil Nadu Health Systems Project for instance, has picked our company to identify and sensitise health service providers to ensure quality of service and improve interpersonal communication. We have rendered similar service to the Uttaranchal, Rajasthan and Maharashtra Governments by training about 7,000 people in the last 12 months,'' he added.

Ma Foi Global Search Services is working with several cross border positions in and around the Indian sub-continent, West Asia and Far East (encompassing Malaysia and Japan).

The career training business of Ma Foi - Ma Foi Academy is on an expansion spree. "We have moved from 23 locations to touch 100 this year. Our first foray into international waters happened when we established our presence in Sri Lanka. The Ma Foi Academy in Sri Lanka aims to enhance the employability of the local work force by bridging the gap between education and employment.''

Related Stories:
Ma Foi Academy in Shanghai

More Stories on : Overseas Investments | Consulting

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
SMS-based guide to city facilities

`Cognizant Coimbatore fastest growing centre'

Why global cos are keen on Hutch Essar

Ma Foi set to expand global presence

Satyam's global expansion in sync with local needs

Looking Back