KUALA LUMPUR: DXN Holdings Bhd
(DXN) has entered into a memorandum of understanding (MoU) with the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) to explore Brazil as a potential regional hub for its Latin American operations, involving potential investments of about US$50 million.
DXN founder and executive chairman Datuk Lim Siow Jin said Latin America has emerged as one of the group’s fastest-growing regions, driven by strong consumer adoption and long-term demand for health and wellness products.
"Brazil, in particular, represents a strategically important market aligned with our global sustainability ambitions and long-term growth objectives,” he said in a statement today.
The MoU signing ceremony was held in Brasília, Brazil and was attended by DXN chief executive officer Prajith Pavithran, and Apex-Brasil president Jorge Ney Viana Macedo Neves.
Meanwhile, Prajith said the MoU provides a structured, government-facilitated framework for DXN to systematically assess opportunities in Brazil.
"Working closely with Apex-Brasil, we will undertake detailed feasibility assessments, regulatory mapping and partner evaluations to determine the most appropriate pathways for potential expansion,” he said.
DXN is a leading global manufacturer of nutraceutical products.
The group said both parties will explore sustainable agricultural practices, responsible sourcing and community development initiatives aligned with environmental, social and governance (ESG) standards, to support long-term value creation across Latin America.
Under the MoU, Apex-Brasil will facilitate information exchange on investment procedures, regulatory frameworks and market access, support the development and registration of Ganoderma and related mushroom-based products, and connect DXN with relevant industry, distribution and research partners.
"DXN will assess opportunities across agricultural production, processing and distribution, and collaborate in evaluating Brazil as a potential strategic base for its Latin American operations, in line with its sustainability and ESG principles,” according to the statement. - Bernama
