POLITICIAN-CUM-BUSINESSMAN Datuk Abdul Azeez Abdul Jalil has teamed up with a Thai entrepreneur to form a Bangkok-based multi-level marketing company selling mostly Malaysian-made consumer and healthcare products in Thailand.
Azeez said he owned 49% stake in the joint venture company Zeeza International while his Thai partner Tunku Shaari Tunku Ibrahim held the remaining 51%.
Zeeza has an initial paid-up capital equivalent to about RM800,000.
The company was formed only three weeks ago and we are looking forward to its soft launch this month,'' he said.
He expects Zeeza to achieve sales equivalent to RM20mil for the first year of its operations.
This company will donate 10% of the membership fee from its agents to the poor and needy,'' he said.
He was speaking after the signing of a memorandum of understanding (MOU) between Yayasan Pembangunan Ekonomi Islam Malaysia (YPEIM) and Zeeza in Kuala Lumpur yesterday.
Under the MoU, Zeeza has agreed to donate 5% of the fee to YPEIM via the latter's Amal Jariah fund.
Another 5% of the fee would be donated to a proposed YPEIM-like charity organisation, which will be based in Bangkok.
Azeez, who is also YPEIM consultative secretariat executive chairman, said Zeeza now had 300 members. The company expected to attract 100,000 members by the year-end, he said.
The membership fee is about 73 baht which is equivalent to about RM7 per person,'' he added.
Azeez met Tunku Shaari last month while on his mission to Thailand to raise funds for YPEIM.
Tunku Shaari is a major shareholder of an undisclosed multi-million ringgit direct selling company which is based in Bangkok.
We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!
What do you think of this article?