OMX Nutrition Sdn Bhd chairman Datuk Seri Dr Chen Chaw Min (second from left), director Chee Swee Keong (fourth from left), Biobank Co Ltd chief executive officer Dr Masaki Morita (fifth from left) and others at the 35th anniversary of OMX Nutrition at Kuala Lumpur on July 28, 2024.
PETALING JAYA: OMX Nutrition Sdn Bhd expects to grow its business by strengthening its marketing strategies.
Founder and director Chee Swee Keong said the acquisition of OMX Nutrition’s supplier, Biobank Co Ltd, by Japanese-listed firm Niitaka Co Ltd would accelerate the group’s growth.
“Niitaka is a market leader in environmentally-friendly products in Japan and it owns about 60% of the market share (in the solid fuel for cooking industry).
“I strongly believe that with the human and financial resources it has, Niitaka can boost the growth of our company much faster,” he told StarBiz at the 35th anniversary celebrations of OMX Nutrition in Kuala Lumpur on Sunday.
With an aim to penetrate into the nutrition and supplement industry, Niitaka had completed the acquisition of a 90%-stake in Biobank on March 28, 2023.
Niitaka had fully acquired Biobank in 2024.
He added that with Niitaka’s presence and research and development know-how, OMX Nutrition will introduce products that are more potent and competitive for Malaysians.
Chee said while OMX Nutrition and Biobank’s products are plant-based, it needs to obtain halal accreditation to reach out to a wider audience, which includes the Muslim population. Acknowledging the vast opportunities presented within the halal market, Biobank chief executive officer Dr Masaki Morita said Biobank has yet to decide on whether it would obtain the halal certification any time soon.
“It is still just an idea that has yet to be discussed, but I do agree that if we get the halal certification, we could immediately reach a much bigger market,” he pointed out. Nevertheless, Morita stated that Biobank, as a parent company, would continue to look into expanding into new markets globally.
As of today, OMX Nutrition is Biobank’s second-largest market, while the United States is its largest, followed by the Philippines and other countries.
Meanwhile, OMX Nutrition chairman Datuk Seri Dr Chen Chaw Min who is also the former Health Ministry secretary-general said the awareness among Malaysians in terms of health is seeing an uptrend.
“Hence (from OMX Nutrition’s perspective), if we continue to promote a good and healthy lifestyle, eat the right food and supplement the body with proper nutrition, there is definitely a way forward for Malaysians to be healthier,” he pointed out.
Based in Subang Jaya, OMX Nutrition is the exclusive marketer and distributor of supplement products produced by Biobank.
OMX Nutrition markets its products via multi-level marketing, with distributors nationwide.
