From left: Fimaco managing director Chua Ah Boon, Fiamma group CEO Jimmy Tan, Samyou founder and chairman, Xiao Youyuan, Samyou assistant general manager Michaelia Zhu and Samyou sales manager Xu Yuzi.
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.
