Facing escalating costs and slower domestic consumer demand, Hai-O Enterprise Bhd seeks to grow its business in cooperation with partners in China via new investments, according to managing director Tan Kai Hee.
A new venture entails the opening of a traditional Chinese medicine (TCM) clinic in Malaysia to treat diabetes patients. This new business segment is the result of a joint venture with a Chinese health food operator in Chengdu, the capital of Sichuan province in southwest China.
“Our partners in China are keen to invest, as they see the current economic slowdown as an opportunity to expand. We also intend to work with prominent TCM operators in China so that their technology and knowledge base can be transferred to Malaysia,” he told reporters following Hai-O’s annual general meeting (AGM) yesterday.
According to Tan, the