Petaling Jaya, 10 May 2005
Direct selling companies who are members of the Direct Selling Association of Malaysia (DSAM) recorded a combined turnover of RM2.7 billion in 2004, up nearly 4% from 2003’s turnover of RM2.6 billion.
The combined turnover came from its 66 members which included listed companies such as Amway (Malaysia) Holdings Berhad, Hai-O Enterprise Bhd, DXN Holdings Bhd and Caely Holdings Bhd; soon-to-be-listed CNI Holdings Berhad, multi-nationals such as Shaklee Products (Malaysia) Sdn Bhd, Sunrider International (Malaysia) Sdn Bhd, Omegatrend (Malaysia) Sdn Bhd, Nu Skin (Malaysia) Sdn Bhd as well as home-grown companies such as Gano Excel Enterprise (M) Sdn Bhd, Zhulian Marketing Sdn Bhd and Elken Sdn Bhd.
According to the Ministry of Domestic Trade and Consumer Affairs (MDTCA), the forecasted turnover for the direct selling industry in 2004 is RM5.05 billion, making DSAM’s contribution to the industry at 53%. Todate there are 520 licensed direct selling companies in Malaysia with more than 7 million distributors, up 75% from the 3 million distributors in 2003.
“The increase in DSAM’s member companies’ turnover in 2004 reflects the direct selling industry’s important and growing contribution to Malaysia’s economy. Apart from providing entrepreneurial opportunities to Malaysians who want supplemental income or as a full-time business interest, some of our members have also begun expanding their presence and products overseas,” said DSAM’s President, Mr Paul Yee at its recently concluded Annual General Meeting.
Added Yee: “In 2003, Malaysia was ranked the 11th largest country in the world in terms of turnover, according to the World Federation of Direct Selling Associations of which DSAM is affiliated to. For 2004, we believe Malaysia will continue to maintain if not better its position in the world ranking as the industry has been through a steady growth in the last few years due largely to the resilience and entrepreneurial spirit of the distributor force.”
“The year ahead will certainly yield a challenging environment not only for direct selling companies, but all companies against the backdrop of rising oil prices and inflation. However, DSAM member companies have fortified their businesses by enhancing the quality of their products, training and incentives to their distributors to make direct selling a continued viable source of income.”
At the AGM, an election also saw the following assume positions in the Board for the 2005-2007 term:
President: Mr Paul Yee of Amway (Malaysia) Sdn Bhd
Vice-President: Mr Frederick Ng of Totalife (M) Sdn Bhd
Honorary Secretary: Ms Shirley Tay of Sunrider International (Malaysia) Sdn Bhd
Treasurer: Mr Khong Che Lam of Grolier (Malaysia) Sdn Bhd
Board Members:
Mr Sam Cheong of CNI Enterprise (M) Sdn Bhd
Ms Julie Yeap of Shaklee Products (Malaysia) Sdn Bhd
Mr Sunny Ooi of Omegatrend (Malaysia) Sdn Bhd
Datin Seri Rosmawaty Abdul Raffar of Caelygirl (M) Sdn Bhd
Mr Victor Lo of Nu Skin (Malaysia) Sdn Bhd