DXN to open factories overseas, expand to new markets
22 Aug 2023
DXN Holdings Bhd (DXN), a global health-oriented and wellness direct selling company, is embarking on an expansion journey with plans to establish factories in Morocco, Peru, and Mexico.
During its 27th annual general meeting (AGM) at DXN Cyberville on Monday, all eight ordinary resolutions presented for consideration were approved by shareholders.
“In the first half of 2023, DXN successfully completed new cultivation and manufacturing facilities in China and India, bringing our total number of production facilities to 21. This should allow us to bolster our sales as we continue to further establish ourselves and meet the demands of the existing and new markets,” said DXN non-independent executive chairman and founder Datuk Lim Siow Jin.
“We will continue to work hard to enhance shareholder value. For the first quarter of the financial year 2024, DXN has announced commendable results. In line with our dividend policy to pay-out equivalent to 30-50 per cent of our profit after tax and minority interest, we declared a first interim dividend of 0.80 sen per ordinary share on 4.99 billion ordinary shares, amounting to RM39.9 million to our shareholders.”
Besides expanding its operations in India and China, DXN is targeting new markets such as Brazil, North Africa, and Central Asia as it aims to diversify and grow.
Lim said he is confident of achieving an annual growth rate of 20 per cent, attributing it to the resilience of existing markets and the promising prospects in its new markets.
In response to evolving preferences, DXN will be entering the ready-to-eat meals market and expanding its cosmetics line.
Consumers can expect further expansion within the next three months, as the company makes significant strides in its global presence and product offerings.
DXN is currently the largest Ganoderma producer in the world.
Source: Borneo Post