FY2023 DXN HOLDINGS REVENUE WAS RM1.6 BILLION, PRE-TAX PROFIT RM455.5 MILLION

Lingzhi entrepreneur, Datuk Lim Siow Jin, built up his multi-million health food industry over 25 years. Lingzhi or Ganoderma is a prized medicinal herb of the fungus family. It has been used in traditional Chinese medicine for 2000 years for longevity and the treatment and prevention of various diseases. Lingzhi cultivation  remains a big industry for China.For Datuk Lim to have succeeded in cultivating lingzhi, spirulina and various other herbs and ingredients across facilities in Malaysia, China, India, Indonesia and Mexico to produce his health supplements and to build it into a global brand (DXN) is quite an achievement.

DXN has 10 manufacturing facilities. It has 452 SKUs (products), the bulk of which are produced by the company.In FY2023 64.5% of its RM1.6 billion total revenue came from Fortified Food & Beverages like Lingzhi coffee, Peruvian Ginseng coffee with ganoderma, spirulina cereals, etc. Health and dietary supplements like DXN cordyceps, DXN Spirulina, DXN Lion mane's powder etc contributed 24.3%. Pre-tax profit was RM455.5 million.

Datuk Lim established an extensive direct marketing network that boasts of 14.9 million registered members internationally and has 12 exclusive distribution agencies across major markets. DXN Holdings Berhad (DXN) was relisted on Bursa Malaysia on 19 May 2023. It was listed before in 2003 but Datuk Lim privatised it on 27 December 2011. Then he decided to launch an IPO again last year.

Datuk Lim is a graduate of the Indian Institute of Technology. He was a civil servant before going into business. He began operations in Alor Setar, Kedah in 1993. In 1999 DXN became the first Malaysian lingzhi factory to receive the Good Manufacturing Practice certification. In 2000 DXN was the first Malaysian lingzhi farm to receive the ISO 14001 certification. By 2001 the company had footprints in 25 countries with 2 million distributors.

ACKNOWLEDGEMENTS

1. DXN Holdings Berhad. 2023 Annual Report. https://www.klsescreener.com/v2/announcements/view/5246113
2. Eu Yan Sang. https://www.euyansang.com.sg/en/7-things-you-should-know-about-lingzhi/eysfood1.html
3. The Star. 19 December 2022. Daniel Khoo.  https://www.thestar.com.my/business/business-news/2022/12/19/persistence-and-perseverance-pays-off-for-dxns-lim
4. Smallcap Asia. 4 May 2023. Ian Tai. https://www.smallcapasia.com/dxn-ipo/
5. Universiti Tunku Abdul Rahman. https://news.utar.edu.my/news/2023/March/08/02/02.html
6. DXN Company Background. https://www.dxn2u.com/about/