MAM
DDB Mudra and Thailand’s Chuo Senko end joint venture in India
MUMBAI: Thailand based communications group Chuo Senko Group and India’s DDB Mudra have ended their joint venture (JV) in India.
The JV company Chuo Senko Advertising India began operations in the country in the first half of 2013 as a full-service advertising agency, partnering with the DDB Mudra Group.
From mid-year 2014, the agency began hiring for its team and saw some big wins including work for Daikin Airconditioning India, Panasonic India, Triumph Motorbikes, Woolmark and the Korean Cultural Centre India (part of the Embassy of the Republic of Korea) in the last quarter of 2014.
The Chuo Senko Group and the DDB Mudra Group mutually decided to part ways in the joint venture they setup in 2013. However, in recognition of the growth opportunities and potential the India market offers, Chuo Senko is now investing aggressively in expanding capabilities and additional capacity in Chuo Senko Advertising India.
The company said that it expects 2015 to be its best year yet and 2016 to be many times better. “It takes time to find the right mix of people, product and place, and it is a very exciting time for us as we get closer to that sweet spot each day,” the company said in an official statement.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
