PETALING JAYA: Fiamma Holdings Bhd
and Zhuhai Samyou Environmental Technology Co Ltd have signed a memorandum of understanding (MoU) to establish an air conditioning (AC) production facility in Malaysia, marking Samyou’s first plant outside China.
In a filing with Bursa Malaysia, Fiamma stated the deal will allow it to include Samyou’s ‘Vino’ brand, which offers smart, eco-friendly, and energy-efficient AC solutions into its portfolio.
It added that in 2023 the Malaysian AC market was valued at RM3.3bil and is projected to grow by 6.73% annually until 2029.
No information was disclosed on where the new facility will be built in Malaysia but Samyou noted the AC facility will be launched by mid-2025 and help position the company to reach its international sales target of US$100mil (RM434.2mil) within the next three years.
