Manforce aims to hire 1,800 foreign workers after listing

KUALA LUMPUR: Manforce Group Bhd, which is en route to listing on Bursa Malaysia’s Leap Market in early December, aims to hire and manage up to 1,800 additional foreign workers post-listing.

Managing director Datuk Paul Wong Boon Ming said the human capital service provider currently managed about 3,355 foreign workers, focusing on the manufacturing and services sectors.

“Post-listing, we are looking to expand into the construction, automotive and semiconductor industries.

“We intend to increase the number of foreign workers that we manage and/or employ to achieve operational efficiencies through economies of scale, thereby, reducing the overall cost per foreign worker,” he told Bernama in an email interview.

Wong said the industry the company is operating in is constantly facing a supply-demand mismatch, where the demand is greater than the existing supply.

He said Manforce’s competitive advantage against its rivals is that the company is a “onestop” avenue for all issues related to foreign workers such as the provision of foreign workers management services, manual labour services as well as foreign workers insurance products and services.

Commenting on the outlook of the foreign workers management services market, he said it is expected to register steady growth from 2018 to 2022.

Manforce, founded by Wong in 2004, has been growing steadily over the past few years with its net profit higher at RM4.8mil for the 2017 financial year from RM4.3mil in 2016. — Bernama