KUALA LUMPUR: Fiamma Holdings Bhd
and Zhuhai Samyou Environmental Technology Co., Ltd (Samyou) have signed a memorandum of understanding (MoU) to establish an air conditioning (AC) production facility in Malaysia. This will be Samyou's first plant outside of China.
In a statement, Fiamma said its partnership with Samyou demonstrates the increasing confidence of Chinese companies in Malaysia’s business-friendly environment and pragmatic economic policies.
“We are expanding our extensive portfolio to include Samyou’s 'Vino' brand, which offers smart, eco-friendly, and energy-efficient AC solutions to meet the strong domestic demand. In 2023, the Malaysian AC market was valued at US$758.25mil (RM3.3bil) and is projected to grow by approximately 6.73% annually until 2029,” Fiamma group chief executive officer Jimmy Tan said.
“Coupled with over four decades of experience in consumer electronics and a distribution network of more than 2,000 touchpoints, Fiamma is well-positioned to leverage this collaboration to win market share and drive sustainable growth,” he added.
Meanwhile, Samyou founder and chairman Xiao Youyuan said: "Leveraging Malaysia’s strategic location, skilled workforce, and supportive government policies, we are committed to developing current and next generation AC products in the country. Our partnership with Fiamma, with its strong local presence and extensive experience, is crucial to Samyou’s global success.”
“We are dedicating our resources to launch our AC facility by mid-2025, positioning us to reach our international sales target of US$100mil (RM434.2mil) within the next three years.”
