KUALA LUMPUR (Dec 5): Fiamma Holdings Bhd (KL:FIAMMA) is forming a joint venture (JV) company to bring heating, ventilation, and air conditioning (HVAC) solutions under the VINO brand into Malaysia.

In a filing statement, Fiamma said the local JV company will be named VINO Air-Conditioning (M) Sdn Bhd, with Fiamma holding a 70% equity stake and Hong Kong-based Great Trillion Investment Ltd holding the remaining 30% stake.

Great Trillion is a unit of China-based Zhuhai Samyou Environmental Technology Co Ltd.

Guangdong-based Samyou was founded since 2014 and is one of the major players in China’s HVAC industry. The company also has strategic investment from leading China consumer electronics player Xiaomi.

Fiamma said the collaboration marks the inaugural entry of the VINO brand into the Malaysian market, expanding access to a range of reliable and efficient HVAC solutions.

The JV will focus on the distribution and promotion of a diverse range of solutions, including split-type air conditioners, cassette units, variable refrigerant flow systems, floorstanding units, and dehumidifiers.

These products will serve the growing demand across residential, commercial, and industrial sectors for high-performance, energy-efficient solutions, Fiamma said.

Fiamma’s group chief executive officer Jimmy Tan said, “This joint venture will strengthen Fiamma’s position for growth by expanding our product offerings, diversifying revenue streams, and enhancing our market presence — all critical elements for long-term success.”

“With over four decades of experience in consumer electronics and a distribution network of more than 2,000 touchpoints, Fiamma brings valuable market insights and a strong local network to support the adoption of VINO’s air conditioning solutions. Combined with Samyou’s technical expertise in high-quality products, we aim to become one of the key players in Malaysia’s HVAC market,” he added.

Chin Hin Group Bhd (KL:CHINHIN) holds 22.63% deemed interests in Fiamma through holdings from its 71.72%-owned subsidiary Signature International Bhd (KL:SIGN), which is also listed.

Shares of Fiamma closed down one sen or 1% to RM1.04, giving it a market capitalisation of RM551.44 million. Year-to-date, the stock has gained 10.6%.