Bioalpha optimistic over prospects for FY2019

KUALA LUMPUR, June 11 (Bernama) -- Health supplement and beauty products manufacturer, Bioalpha Holdings Bhd (Bioalpha), is optimistic over the group’s prospects for the financial year 2019, (FY2019) underpinned by ongoing initiatives in both the domestic and foreign markets.

Managing director William Hon said for the overseas market, Bioalpha is planning to strengthen export sales to China, Indonesia and Thailand this year.

“Over in Indonesia, Bioalpha has started to manufacture products in the health supplement category, having received the necessary regulatory approvals, which is in addition to the functional food products being produced and distributed there.

“We expect our Indonesian sales to gradually improve as we launch more health supplement products moving forward,” he said in a statement today.

For China, Bioalpha will broaden its distribution network by entering the business-to-consumer market and has appointed a local partner to promote and distribute the house brand products, as well as list it on e-commerce platforms such as JD.com and Taobao.com.

Hon said the group also would expand its presence overseas by penetrating Thailand with the appointment of an exclusive distributor to market its house brand products.

“With our strategic partner’s broad network and reach in Thailand, we are confident of making inroads there this year,” he added.

Back home, Hon said Bioalpha is venturing into the personal care line by collaborating with a local company in the hospitality sector and is currently working towards launching a few products to be marketed under its house brand labels.

“This personal care line will form a new revenue stream for us going forward,” he added.

Meanwhile, due to an increase in product orders, the group is also expanding the production space and upgrading machinery to increase automation and plant efficiency at its existing manufacturing plant in Bangi, which is expected to complete by the end of the first half of 2019.

For the retail pharmacy business, the strategy is to launch more “Constant” pharmacy outlets through franchising.

“At the same time, we are also exploring opportunities via collaboration with major high-end grocery chains. Currently, we have more than 20 outlets nationwide and plan to launch more in the next 12 months,” Hon said.

-- BERNAMA