Press Releases
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Malaysia and China sign eight agreements
Apr 28, 2011
Source : The Star

PUTRAJAYA: Chinese Premier Wen Jiabao, who is on a two-day visit to Malaysia, and Prime Minister Datuk Seri Najib Tun Razak witnessed the signing of eight agreements between the two countries on Thursday.

The agreements include a mutual recognition of higher education qualifications, a memorandum of understanding on resolving traffic congestion on Penang island between the state government and Beijing Urban Construction Group Co. Ltd and a joint venture between Smelter Asia Sdn Bhd and Alumini

 
 
MLM model put to test
 
Mar 28, 2011
Source : The Edge Financial Daily
 
KUALA LUMPUR: The spate of lower earnings reported by Hai-O Enterprise Bhd has prompted questions on the viability of the multi-level marketing (MLM) model following amendments to the Direct Selling Act (DSA). In addition, the possible slowdown in consumer spending due to heightening inflation pressure does not help too.
 
Hai-O profit on downtrend
 
Mar 24, 2011
Source : The Edge Financial Daily
 
KUALA LUMPUR: Hai-O Enterprise Bhd’s earnings fell 65% to RM6.34 million for the third quarter (3Q) ended Jan 31 from RM18 million a year ago. Revenue fell to RM57.6 million from RM131.28 million a year ago due to lower sales from its multi-level marketing (MLM) division, which is its core subsidiary. Earnings per share fell to 3.18 sen from 9.02 sen previously.
 
Hai-O 3Q net profit falls 65pct to RM6.34m from RM18m yr ago
 
Mar 23, 2011
Source : Mystockfolio
 
HAI-O ENTERPRISE BHD's earnings fell 65% to RM6.34 million for the third quarter ended Jan 31, 2011 from RM18 million a year ago as revenue shrank following lower sales from its multi-level marketing (MLM) division.
The company said on Wednesday, March 23 that revenue fell to RM57.60 million from RM131.28 million a year ago due mainly due the poorer performance of the MLM division, which is principal subsidiary. Earnings per share were 3.18 sen compared with 9.02 sen.
 
Hai-O's second non-core business raises concern
 
Nov 08, 2010
Source : The Edge Malaysia
 
Hai-O Enterprise Bhd's latest venture into property investment and development has raised concerns among investors. Its share price has shed 4.6% since it announced a collaboration on Oct 22 with Si­erra Equatorial Development Sdn Bhd (SED). Linder the deal, Hai-O will sell 40% of its wholly owned unit, Hai-O Development Sdn Bhd, to SED, a builder-cum-property developer.
 
Hai-O entry into property may add risk: OSK
 
Oct 28, 2010
Source : NSTP
 
Hai-O Enterprise Bhd's venture into the property business will add more risk to the group, given that its multi-level marketing (MLM) business is still trying to recover locally, says OSK Research.