Share
- In a filing with Bursa Malaysia on Friday, DXN said it has issued a 30-day notice of termination to both MMHO and EW.
KUALA LUMPUR (Jan 31): DXN Holdings Bhd (KL:DXN) said it is terminating its plan to develop a medicine facility and a wellness centre due to a lack of progress and failure to achieve the expected benefits.
The group had signed a memorandum of agreement with Persatuan Holistik dan Herba Malaysia (MMHO) in September 2023 for the establishment of the medicine facility, and a memorandum of understanding with European Wellness Centres Inc (EW) in October 2023 for the development of the wellness centre.
In a filing with Bursa Malaysia on Friday, DXN said it has issued a 30-day notice of termination to both MMHO and EW.
DXN, which sells health and wellness products, said the termination will not have any material financial impact on the group.
LSJ Global Sdn Bhd, the largest shareholder of the group with a 48.16% stake, is controlled by DXN's executive chairman and founder Datuk Lim Siow Jin.
Shares of DXN gained one sen or 1.92% to close at 53 sen on Friday, giving the group a market capitalisation of RM2.59 billion. The stock is trading at a trailing price-earnings ratio of eight times, which is lower than its peer, Amway (M) Holdings Bhd (KL:AMWAY), at nine times.
EdgeProp.my is currently on the lookout for writers and contributors to join our team. Please feel free to send your CV to [email protected]
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!
TOP PICKS BY EDGEPROP
Sendayan Tech Valley Industrial Park
Siliau, Negeri Sembilan
Taman Perindustrian Subang
Subang Jaya, Selangor
Kawasan Perindustrian Batu Caves
Batu Caves, Selangor
Sijangkang @ Industrial
Telok Panglima Garang, Selangor
Kawasan Perusahaan Bandar Sultan Suleiman
Port Klang, Selangor
Ascotte Boulevard Condominium
Semenyih, Selangor
Platinum Splendor Residence
Keramat, Kuala Lumpur
Laman Mawar @ Kota Seriemas
Nilai, Negeri Sembilan
