Datuk Lim Siow Jin
CYBERJAYA: Global health-orientated and wellness direct selling company, DXN Holdings BHD is now officially listed on the Bursa’s Malaysia’s Main Market. With the successful re-listing of DXN, the company is optimistic that it will open up new business opportunities, further enhancing its corporate abilities and access to new markets.
Datuk Lim Siow Jin, the chairman of DXN, expressed that Brazil’s substantial population and the company’s success in Peru, a neighboring country, have the capacity to boost product sales and membership for DXN this year.
Lim said the Latin American market is important to the company, with Peru contributing 25% of its sales.
To date, DXN members are as many as 15 million with over 1 million members in Malaysia. DXN’s active member base totals 3.6 million in over 180 countries.
The Group was listed on the Main Board in September 2003 and delisted in December 2011.
Over the years, DXN’s business has grown resiliently since privatisation and despite the Covid-19 pandemic. Achievements include a revenue of CAGR of 17.2%, 14 new markets and 12 additional production facilities.
Lim’s enthusiasm for Ganoderma has never diminished.
“We have invested heavily into our R&D, manufacturing and production facilities as evidenced by our worldwide presence of our integrated production facilities,” commented Lim.
Lim said the company aims to undertake a three-pronged approach in regard to its plans for the upcoming 5 years.
“First, we aim to penetrate deeper into existing markets – this means growing our global networks of members in countries where we are currently present in.
“Secondly, we aim to cover a wide range of markets – currently we have 79 sales branches across 50 markets – we intend to cover all continents in the world via growing our member base or partnering with external distribution agencies which have the advantage of local market know-how and better networks with local stakeholders.
“Lastly, to continuously enhance our product offerings with new health and wellness products – currently we have 452 SKUs in our product portfolio with 327 manufactured in-house.
“We are committed towards R&D and working towards expanding product offering to ensure we are able to cater to changing consumer needs and enhancing member engagement.”
Photo shows research being done in a DXN laboratory.
He added that DXN will continue with the expansion of its vertically integrated global supply chain by having more cultivation and manufacturing facilities.
Meanwhile, speaking on DXN’s growth over the years, chief marketing officer Teoh Hang Ching said, “From FYE 28 February 2020 to the FYE 28 February 2022, our revenue increased by a CAGR of 6.1% from RM1, 104.6 million to RM1,242.9 million.”
For the financial year ended Feb 28, 2023 (FY23), the group recorded higher revenue of RM1.6 billion, which represented a 28.8% increase compared with RM1.2 billion in the previous financial year.
DXN’s Management Board prioritised sustainability over grandiosity.
Commenting on the re-listing, Teoh stated that it is to enhance the company’s public relations (PR), not focused on raising funds since the company is already rich.
“Becoming a listed company would help our growth plans and to give assurance to stakeholders in terms of our business model and foundation.”
DXN’s revenue is generated entirely from product sales and there are no member fees or annual fees. The company’s top sales include Mexico, India, and Morrocco markets.