By KWANCHAI RUNGFAPAISARN
“This procurement is a testament to Mega Lifesciences’ commitment to grow and evolve in the Malaysian market with a company that shares our same values and commitment to wellness,” Vivek Dhawan, chief executive officer and chief coach of Mega Lifesciences, said yesterday.
“Our plan is to double our revenue and bottom line of 2014 by 2019 and we are on track to achieve this. Asean will continue to be the catalyst for this growth. We aim to strengthen our position in Asean and grow, and today’s announcement signifies this,” he said.
Based in Bangkok, Mega is an international manufacturer and distributor of pharmaceutical, nutraceutical and fast-moving consumer goods. It hopes that the purchase of BiO-LiFE will make Mega one of the top supplement brands in Malaysia, and drive rapid growth and consolidation of its business imprint in Southeast Asia.
“Both companies have more than 25 years of history and this move will expand both the product ranges in Malaysia and the ranges in additional markets [where] Mega is present, thanks to our product synergies,” Dhawan said.
Located in 32 countries across the globe, Mega’s move comes after a good nine-month performance with Bt6.21 billion in revenue and Bt500 million in net profits.
BiO-LiFE Marketing registered sales of Bt427 million and net profit of Bt36 million last year, as per audited financial statements.
Established in 1988 in Kuala Lumpur, BiO-LiFE Marketing is a leading player in formulating and developing nutritional supplements and herbal remedies for human health in Malaysia, Thailand, Vietnam, Singapore and Myanmar primarily.
Its product category covers essential fatty acids, nutritional formulations, co-branded probiotics, herbal formulations and medicinal mushroom formulations, created in its own laboratories.
Mega’s latest business plan aims to deliver commercial expansion in Malaysia, increased significance in market share, market reach and increased resources. Additionally, Mega’s product line will be augmented with BiO-LiFE’s portfolio of supplements that generally focus on immune support, general health, heart, eye and gut health as well as a broad range of supplements.
“In the future, this agreement will boost our plan to develop our range of health foods and over-the-counter drug offerings in Malaysia, and we look forward to a successful future with BiO-LiFE in our stable of brands,” Dhawan said.