PETALING JAYA: DXN Holdings Bhd, which is listed on the Main Market of Bursa Malaysia, has signed a memorandum of understanding (MoU) with Universiti Tunku Abdul Rahman (UTAR) and Yayasan Prihatin Nasional (YPN) for research and promotion of Traditional and Complementary Medicine (TCM) treatments in the healthcare industry.
The framework MoU is for three years – first phase being DXN’s donation of RM3.5 million to UTAR for research and development, with more donations under way.
DXN, a player in the fortified food and beverages industry, specialises in the cultivation, manufacturing, and marketing of premium products, with an emphasis on ganoderma lucidum. Its product portfolio includes fortified food and beverages, health and dietary supplements, personal care and cosmetics and other products and services.
UTAR Hospital, in addition to providing basic and specialist medical care, offers clinical training for students pursuing degrees in general medicine, traditional Chinese medicine and health science.
DXN chairman and founder Datuk Lim Siow Jin said the partnership between a commercial organisation and the education sector creates a positive synergy that benefits both the industry and the academic institutions involved.
“This partnership will foster greater understanding and awareness of natural products and traditional complementary medicine treatments offered by a respected institution such as UTAR,” he said during a press conference at UTAR’s campus in Bandar Sungai Long, Kajang, yesterday.
UTAR president Professor Datuk Dr Ewe Hong Tat said that at the heart of the MoU lies the commitment to advancing natural product research and the partnership will provide invaluable support to UTAR Hospital in establishing medical services dedicated to TCM.
“By incorporating the best of both modern medical science and traditional healing practices, we envision a holistic approach to patient care that nurtures the body, mind, and spirit. With our combined expertise, we will explore new frontiers in the field of natural products, discover treatments, and unlock the potential of nature’s resources,” he added.
In a recent filing with Bursa Malaysia, DXN announced revenue of RM424 million for the first quarter of its financial year ending Feb 29, 2024, an increase of 17.6% compared with the previous financial year’s corresponding quarter. The increase was mainly driven by the continuous sales growth of fortified food and beverages in Latin America and India, as well as a weaker ringgit against certain foreign currencies.
For the quarter under review, DXN posted higher profit before tax and profit after tax and minority interest of RM124.1 million and RM77.6 million respectively, a year-on-year increase of 7.5% and 0.6%. Profit after tax clocked in at RM80.8 million. DXN’s board of directors declared a first interim dividend of 0.80 sen per ordinary share on 4.99 billion ordinary shares, amounting to RM39.9 million, which will be paid on Aug 30.
