MayAir Group plc (LON:MAYA) Chief Financial Officer Tat Seng caught up with DirectorsTalk for an exclusive interview to discuss MayAir’s operations, acquisitions, sales and pipeline, expansion strategy and the outlook for 2016
Q1: First off, can you provide a quick overview of MayAir Group, its operations and the end markets in which you operate in?
A1: Yes, MayAir is in the clean air solutions sector, we provide clean air to the industrial sector, commercial and residential and out of all these three sectors we also have the replacement market for that. Now, we operate mainly in Asia, predominantly in China, and we look forward to be a global player in the future.
Q2: Now this is your maiden set of final results and it’s ahead of broker forecast and also shows strong organic growth, will the group look to supplement this growth with acquisitions going forward?
A2: Yes Giles, obviously we will explore every opportunity available that will support our market growth and not just the organic but there’s an opportunity to allow us market growth be it in the region, yes we will definitely be looking to that, yes.
Q3: Now as you said China, which is the group’s main market, is heavily polluted and your technologies must be well received, with the Chinese economy slowing is MayAir seeing any decline in sales or pipeline?
A3: What’s interesting about the Chinese economy, or even the emerging market economy in Asia, is that everybody is looking over at or dealing with technology as well as wanting to invite more FDI’s into their economy. Although Chinese economy seems to be slowing down, MayAir is and has continued to seize pipeline projects growing both in the industrial as well as in the commercial sector so we’re glad that we are seeing positive results that allow us to move forward to the next couple of years.
Q4: Is the group strategy to expand its reach into other countries apart from China?
A4: Yes, we are very clear with our intention to grow not just in China but on a parallel basis we would want to also grow around South-East Asia. We have a good base out of Malaysia, we can and we have reached to regional countries and recently we just signed a distribution agreement with a Thailand distributor, we have a presence in Indonesia, in Philippines, in Vietnam and in Singapore so we will continue to invest and hire more talent to support our initiative globally.
Q5: When will your new 38,500 metres squared factory become operational?
A5: We have started work on the factory, we expect the factory to be completed middle of 2017 and fully operational by the third or fourth quarter of 2017.
Q6: What would you say the outlook for 2016 for MayAir Group is?
A6: With the potential pipelines that we have and with the demand of our clean air solutions with the strong fundamentals in our supply chain that we have developed, we do look forward to a very positive 2016.
