DXN team has signed a Memorandum of Understanding (MoU) with UTAR, UTAR Hospital and Prihatin officials at an event held in Kuala Lumpur.
KUALA LUMPUR: DXN Holdings Bhd has signed a Memorandum of Understanding (MoU) with Universiti Tunku Abdul Rahman (UTAR), UTAR Hospital and Yayasan Prihatin Nasional (Prihatin).
This collaboration marks a significant step towards both DXN and UTAR’s efforts in advancing research and promoting traditional and complementary medicine treatments in the healthcare industry.
DXN has established itself as a renowned global player in the fortified food and beverages industry, specialising in the cultivation, manufacturing, and marketing of premium products, with a strong emphasis on Ganoderma Lucidum.
With an extensive product portfolio that includes fortified food and beverages, health and dietary supplements, personal care and cosmetics and other products and services, DXN has earned widespread acclaim and recognition from various health and business organisations worldwide.
The company's unwavering commitment to quality and innovation has fueled steady growth over the years, reaching approximately 15 million members worldwide solidifying its position as a pioneer in Ganoderma Lucidum products.
In their recent announcement on Bursa Malaysia, DXN announced its unaudited results for the first quarter of the financial year ending Feb 29, 2024 where for the quarter under review, DXN recorded revenue of RM424mil, an increase of 17.6% compared to the previous financial year’s corresponding quarter.
The increase in revenue was mainly driven by the continuous sales growth of fortified food and beverages in Latin America and India, as well as depreciation of Malaysian Ringgit against certain foreign currencies.
In line with the higher revenue, DXN posted higher profit before tax and profit after tax and minority interest (PATAMI) for the quarter under review of RM124.1mil and RM77.6mil respectively, translating to a year-on-year increase of 7.5% and 0.6% respectively. Profit after tax (PAT) clocked in at RM80.8mil. DXN’s Board of Directors also has declared a first interim dividend of 0.80 sen per ordinary share on 4.99 billion ordinary shares, amounting to RM39.9mil, which shall be paid on Aug 30.
DXN listed on the main market of Bursa Malaysia on May 19 and reported a remarkable 13.37% year-on-year increase in net profit for its financial year 2023, achieving RM275.396mil, along with a substantial 28.8% surge in annual turnover, approximately RM1.6bil.
DXN non-independent executive chairman and founder Datuk Lim Siow Jin expressed his profound joy and enthusiasm regarding the collaborative initiative with UTAR, UTAR Hospital, and Prihatin.
Under Lim’s leadership, DXN has unveiled numerous potential benefits of Ganoderma Lucidum and its impact on human health.
He firmly believes that this partnership will foster greater understanding and awareness of natural products and traditional complementary medicine treatments offered by UTAR Hospital, a respected institution known for nurturing successful entrepreneurs, professionals, and individuals who have made positive contributions to society.
UTAR Hospital, in addition to providing affordable and high-quality basic and specialist medical care, offers invaluable clinical training for students pursuing degrees in general medicine, traditional Chinese medicine, and health science.
DXN has also collaborated frequently with Prihatin on numerous occasions, extending a helping hand to those in need within society.
UTAR president Prof Datuk Dr Ewe Hong Tat expressed, “By joining forces, our three institutions demonstrate a shared commitment to fostering innovative research, promoting excellence in healthcare, and improving the well-being of our communities.
“At the heart of this MOU lies our commitment to advancing natural product research.
“With the combined expertise of UTAR, UTAR Hospital, DXN Holdings Bhd and Yayasan Prihatin Nasional, we will explore new frontiers in the field of natural products, discover ground-breaking treatments, and unlock the potential of nature’s resources.”
