Weakening ringgit and consumer sentiment will continue to weigh on Amway

PETALING JAYA: Amway (Malaysia) Holdings Bhd said the weakening ringgit and consumer sentiment will continue to be the direct-selling company's biggest challenges this year, as 80% of its products are imported, predominantly from the US.
"Those two areas will put pressure on us. But we will continue to balance all that and try to figure out and manage through that," its general manager of Malaysia and Brunei Michael Duong told reporters at a press conference here today.
However, he said the company is undecided whether to increase the prices of its products this year, adding that prices went up 9.3% last year.
"In 2015 and 2016, the economy declined and I don't think in 2017 it's going to change in general, but Amway remains resilient throughout all this," Duong added.