Manforce Group

What Manforce Group does

Manforce Group Berhad is a Malaysian public-listed workforce management company headquartered in Petaling Jaya, Selangor, that provides end-to-end foreign and local worker recruitment, management, and outsourcing services to enterprise and mid-market clients across Peninsular Malaysia. Founded in 2004 by Dato' Wong Boon Ming, the company currently manages an average workforce of approximately 6,761 workers deployed across more than 30 industries including manufacturing, construction, retail, food & beverage, services, healthcare, and glove and electronics production. It is recognised as the first and only publicly listed company in Malaysia's foreign worker management industry, having transferred from the LEAP Market to the ACE Market of Bursa Malaysia on 6 May 2026 under stock code 0450 (MFGROUP).

The company's core service offerings span foreign worker recruitment and management — covering permit processing, Act 446-compliant hostel accommodation, transportation, payroll administration, welfare, FOMEMA medical examinations, and compliance monitoring — alongside local recruitment through its Malaysians Development Uplift Programme (MDUP) targeting B40 youth, and commercial cleaning and sanitising services. These services are supported by the proprietary Manforce Tracking System (MTS) digital payroll platform and a cloud-based healthcare management system that provide clients with worker profile, attendance, performance, and health-condition visibility. Manforce serves an enterprise roster including First Solar Malaysia, George Kent, Supermax, Comfort Rubber Gloves, KESM Industries, Globetronics, AEON, Watsons, Village Grocer, Sunway Medical Centre, Nestle Manufacturing, and Kuala Lumpur Golf & Country Club, with several relationships exceeding 15 years.

The business model operates on multi-year managed-service contracts with fees structured across three package tiers — Full Package, Customisable Package, and Basic Recruitment — with pricing negotiated per engagement rather than publicly disclosed. Go-to-market relies on direct enterprise sales engagement with HR and operations decision-makers, supplemented by Federation of Malaysian Manufacturers (FMM) seminar presence, PERKESO co-marketing, and an inbound website inquiry channel. The May 2026 IPO raised RM30.40 million in gross proceeds through issuance of 79.99 million new shares at RM0.38 per share, implying an enlarged share capital of 399.98 million shares and post-money valuation of approximately RM152 million; proceeds are allocated RM14.74 million for business expansion via new recruitment quotas, RM4.64 million for IT and operational systems, RM6.32 million for working capital, and RM4.70 million for listing expenses.

Name

Manforce Group

Legal name

Manforce Group Berhad

Website

https://manforce.net

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Manforce Group Berhad is a publicly listed Malaysian workforce management company providing end-to-end foreign and local worker recruitment, outsourcing, payroll, and compliance services to enterprise and mid-market clients across 30+ industries in Peninsular Malaysia.

Ownership category

akta.pro rank

Product category

Workforce Management and Manpower Outsourcing Services

SIC

Services-Employment Agencies (7361)

akta.pro primary industry

Maintenance, Repair & Operations (MRO) / Industrial Maintenance Staffing (BPACAEAH)

Keywords

• Foreign worker recruitment
• Workforce management services
• Labour outsourcing
• Payroll administration
• Commercial cleaning services

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Foreign Worker Recruitment and Management Services: Full-service foreign worker management covering recruitment, onboarding, training, permit processing, hostel accommodation, transportation, payroll, welfare, and compliance. Revenue is generated through managed service fees charged to client companies for end-to-end workforce solutions. Multiple service tiers are offered: Full Package (all services), Customisable Package, and Basic Recruitment (workers only).
2. Cleaning and Sanitising Services: Commercial cleaning, high-rise facade and glass cleaning, building maintenance, and sanitation services provided to corporate clients across retail, F&B, hospitality, and other facilities. Revenue is earned through service contracts with commercial property owners, retailers, and event venues.
3. Local Worker Recruitment and Placement: Placement of locally trained Malaysian workers (via the MDUP programme) into client companies, generating fees for matching and placement services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Manforce Group Berhad provides end-to-end foreign and local worker recruitment and management services to Malaysian businesses across manufacturing, construction, services, retail, F&B, healthcare, and other sectors. Its offerings span recruitment, onboarding, permit processing, hostel accommodation, transportation, payroll, welfare, FOMEMA medical screening, and regulatory compliance under Full, Customisable, and Basic package tiers, complemented by commercial cleaning and sanitising services.

Product overview

Manforce Group Berhad operates as a one-stop comprehensive workforce management platform providing integrated foreign and local worker recruitment and management solutions. The core offerings include Foreign Worker Recruitment and Management, Local Recruitment (MDUP programme), and Cleaning and Sanitising Services. These are supported by the Manforce Tracking System (MTS) - a digital payroll management platform, and a cloud-based healthcare management platform. The service architecture offers three package tiers: Full Package (all services), Customisable Package, and Basic Recruitment. The company is the first and only publicly listed workforce solutions provider in Malaysia's foreign worker management industry, serving clients across manufacturing, construction, services, retail, and other sectors.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Improved productivity and smoother operations for clients
• +1 more outcomes

Named customers20 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

17 partnerships are on record, tiered minor and core.

• Pertubuhan Keselamatan Sosial (PERKESO)minorStrategic or Co-development Partner · 1 November 2024Manforce Group co-organised a FMM seminar with PERKESO (Social Security Organisation) in November 2024 on 'Strategic Solutions in Foreign Workforce Recruitment and Management', focusing on PERKESO's role in foreign worker social security coverage.
• Selangor Youth Community (SAY)coreStrategic or Co-development Partner · 23 March 2022Manforce Group signed an MoU with Selangor Youth Community (SAY) to become its Main Employment Partner. SAY's Team Programme (in collaboration with Prince Trust International) identifies and refers young Malaysian candidates to Manforce for employment placement with clients. This is a core partnership supporting Manforce's local workforce strategy and MDUP initiative.
• Tricor Investor & Issuing House Services Sdn BhdcoreImplementation/ SI/ Consulting PartnerTricor serves as Share Registrar and Issuing House for Manforce Group's listed shares on Bursa Malaysia, managing share registration, investor communications, and corporate actions.
• TGS TW PLTcoreImplementation/ SI/ Consulting PartnerTGS TW PLT serves as Auditors and Reporting Accountants for Manforce Group Berhad, providing statutory audit services and financial reporting expertise. Person-in-charge: Quek Keng Yee (CA, Malaysian Institute of Accountants).
• Phang Tham Teoh & CocoreImplementation/ SI/ Consulting PartnerPhang Tham Teoh & Co serves as Legal Adviser to Manforce Group Berhad, providing legal counsel for corporate and regulatory matters.
• Protégé Associates Sdn BhdcoreImplementation/ SI/ Consulting PartnerProtégé Associates Sdn Bhd served as Independent Market Researcher for Manforce Group's IPO, providing market research and independent analysis supporting the prospectus.
• Prince Trust InternationalcoreStrategic or Co-development PartnerPrince Trust International, a UK-based organisation founded by Prince Charles, collaborates with SAY's Team Programme. Manforce Group serves as the main employment partner, guaranteeing job placement to programme graduates upon completion of the nine-week training.
• UTMSPACE / UNIMAScoreStrategic or Co-development PartnerManforce Group partners with Universiti Teknologi Malaysia's UTMSPACE and Universiti Malaysia Sarawak (UNIMAS) to provide professional certification for MDUP programme graduates. Trainees receive certificates from these universities upon programme completion.
• INSAN Development AcademycoreStrategic or Co-development PartnerINSAN works with local authorities to identify B40 group candidates for Manforce's MDUP programme. INSAN handles candidate sourcing and recruitment for the training programme, complementing Manforce's placement services.
• Federation of Malaysian Manufacturers (FMM)coreStrategic or Co-development PartnerManforce Group has an ongoing strategic relationship with FMM, co-organising seminars on foreign workforce management. FMM seminars serve as lead generation platforms where Manforce presents workforce solutions to FMM member companies across Malaysian manufacturing and services sectors.
• Hope Worldwide MalaysiaminorStrategic or Co-development PartnerManforce Group partnered with Hope Worldwide Malaysia for CSR activities including a blood donation campaign at IPC Shopping Centre and a Vertical Compost Tower community event, building goodwill and community engagement.
• Tzu ChiminorStrategic or Co-development PartnerManforce Group visited Tzu Chi's Kayu Ara Recycling Center for an environmental education and CSR activity, promoting sustainable practices and community engagement.
• Pertiwi Soup KitchenminorStrategic or Co-development PartnerManforce Group partnered with Pertiwi Soup Kitchen for food distribution to homeless individuals, providing meals and supporting healthcare outreach for underprivileged communities.
• Lions Club of Mid Valley Kuala LumpurminorStrategic or Co-development PartnerManforce Group was a platinum sponsor (RM 30,000) of the Lions Club of Mid Valley Kuala Lumpur's 'Step of Hope' charity run, supporting fundraising for underprivileged groups and Lions Club foundations.
• The Lovely Disabled HomeminorStrategic or Co-development PartnerManforce Group co-sponsored the 'Run For A Chance' charity event with The Lovely Disabled Home, supporting people with disabilities and their participation in a 3km run in Johor Bahru and Kepong, Kuala Lumpur.
• Immigration Department of MalaysiacoreOthersThe Immigration Department of Malaysia is a key regulatory partner for Manforce Group's operations, handling work permits, VDR processing, and foreign worker quota approvals that are central to Manforce's service delivery.
• FOMEMAcoreOthersFOMEMA (Foreign Worker Medical Examination Screening) is Manforce Group's key partner for mandatory medical examinations of foreign workers. Manforce Group coordinates FOMEMA screenings for all managed workers and assists clients with the appeal process.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Adecco Group AG: Global staffing and HR services company with Malaysian operations. Overlaps with Manforce in general workforce solutions but does not specialise in foreign-worker compliance managed services.
• ManpowerGroup Inc. Global staffing leader with Malaysian operations offering temporary staffing, permanent placement, and workforce solutions. Broader portfolio but directly competes in the same enterprise staffing category.
• Recruit Holdings Co., Ltd. Japan-based global HR services holding company (owner of Indeed, Glassdoor, RGF Staffing). Provides the broader capital-markets and strategic comparable for a publicly listed staffing business.
• Persolkelly (PERSOL × Kelly Services): Asia-Pacific joint venture combining Kelly Services' global staffing infrastructure with PERSOL's regional strength. Competes in Malaysia across staffing and recruitment, including entry-level and blue-collar categories.

Emerging players

• Robert Walters plc: UK-listed professional recruitment firm with a Malaysian office. Comparable as a publicly traded recruitment peer, though positioned in professional hiring rather than managed foreign-worker services.
• PageGroup plc: Global professional recruitment firm with Malaysian operations (Michael Page, Page Personnel). Adjacent in staffing but focused on mid-to-senior professional hiring rather than blue-collar foreign-worker management.

Direct peers

• HRnetGroup Limited: Singapore-listed regional staffing and recruitment firm with significant Malaysia operations. Comparable Asia-listed staffing peer with similar multi-country Southeast Asian footprint and enterprise client base.
• EPS Ventures Berhad: Malaysian ACE Market-listed company providing staffing, workforce solutions, and recruitment services. Most directly comparable listed domestic peer in HR/staffing with similar geographic and regulatory exposure.
• TopSource Worldwide Sdn Bhd: Malaysia-headquartered managed-services provider specialising in foreign worker recruitment, payroll, hostel, and compliance management. Closest direct competitor in Manforce's exact niche of end-to-end foreign workforce management.

Others

• SEEK Limited (JobStreet): Australia-listed online employment marketplace group; owns JobStreet, a leading recruitment platform across Malaysia and Southeast Asia. Adjacent ecosystem participant rather than a direct managed-services competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/share/p/1UybDGe1gv
• LinkedInlinkedin.com/posts/manforcegroup-22yearsofexcellence-appreciationdinner-ugcPost-7474675230070951937-jLEH/?utm_source=share&utm_medium=member_desktop&rcm=ACoAABNzBloBPOJsH6f4yE0OnTih1l_FE6hIdOo

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Manforce Group