Hai-O Enterprise Bhd’s first-quarter results were below analysts and consensus estimates, spurring market concern on the company’s performance, going forward. However, Hai-O management has ensured that it is ready with various strategies to strengthen its business.
Group managing director Tan Kai Hee told StarBiz the current downturn was just a temporary scenario due to some negative newsflows and internal matters and that the company had “cleaned up†the matters.
“Introducing new creative products and adding new distributors will help drive our multi-level marketing (MLM) business,†he said.
Tan added that Hai-O planned to introduce new technology products by early next year under a newly formed Energy Division.
He said the new division would help to offset the slowdown in MLM business and would be the company’s growth driver in the future.
Logo from Hai-O