Hai-O to develop more affordable products to cater market needs

Industry players see the review of the existing Labuan port arrangement and the subsequent port management services tender as timely given that the infrastructure is in dire need of an upgrade.

Malaysia Shipowners’ Association ( MASA) chairman Datuk Abdul Hak Md Amin said the port infrastructure and facilities need an upgrade in order to improve the service level, security and safety standards.

On top of that, the Labuan Port Authority ( LPA) and its existing port management company, Labuan Liberty Port Management Sdn Bhd ( LLPM), have operated without an official port tariff since 1998, he revealed. — Bernama

KUCHING: Hai-O Enterprise Bhd (Hai-O) is set to develop more affordable products in light of lower spending power of the multi-level marketing (MLM) division’s members.

The research arm of Kenanga Investment Bank Bhd (Kenanga Research) expected to see further pressure from stagnant distributors’ growth (averaging at 140,000, plunging from the highest level in FY18

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at 160,000 distributors) as well as from weakening ringgit against renminbi.

“The MLM division will develop more ‘small ticket’ items with affordable prices to cater for market needs in view of lower spending power of its members and reinforce ongoing digitalisation initiatives,” Kenanga Research said.

“The Wholesale division will focus on its core products, which include Chinese medicated tonic and other health and wellness products, and will continue to widen its product portfolio.

“The Retail division will continue to develop more affordable house brand products to widen its product portfolio as well as improvement in its sales incentive scheme.”