DXN Holdings’ business to sustain via robust markets, new product launches

CYBERJAYA: Health-oriented and wellness consumer products company DXN Holdings Bhd will continue to be sustainable, supported by its robust existing and new overseas markets, new product launches, namely ready-to-eat meals, as well as the expansion of its range of cosmetic products.

Executive chairman and founder Datuk Lim Siow Jin said as a multi-level marketing company, sales of its products through direct selling had been encouraging, including in new markets such as Brazil, North Africa, Central Asia and China.

“We cannot control our share price in the market, but what we can do is take a proactive approach to invite our members to invest more in the company.

“With about 15 million members in 180 countries, many have deposited some of their bonuses into the company to buy more shares,” he told reporters after its 27th annual general meeting here today.

Elaborating on the company’s annual growth, Lim expressed confidence that it would be able to sustain an overall growth of 20 per cent in its performance.

“In line with the company’s core business and market demand for more natural ingredients products, we plan to launch new items, namely mushroom burgers and roti paratha, and more natural cosmetic products before this year’s end.

“In terms of profit, I think this will only be reflected in next year’s financial performance,” he said.

Meanwhile, having around 2,500 fully local workers in Jitra, Kedah, Lim said it could meet the demand for new products as its employees are well-trained for the upcoming increased capacity and production.

However, he noted that obtaining new workers had been a challenge.

“We are also planning to see if we can expand our factory in the country, namely in Perlis and Kelantan,” he added.

According to its annual report for 2023, the group has a portfolio of 452 stock-keeping units, of which 327 are manufactured within the group.

Its distribution footprint comprises 79 sales branches and 12 external distribution agencies in 48 countries to serve its members.

DXN has been listed on the Main Market of Bursa Malaysia since May 19, 2023. Before that, it was listed in 2003 but delisted in December 2011 after being privatised by Lim. – BK