KUALA LUMPUR: DXN Holdings Bhd
’s indirect wholly-owned subsidiary, DXN Marketing (Brasil) LTDA (DXN Brasil), has entered into a reciprocal commitment agreement with the Municipality of Ibia for the proposed development of an industrial plant in Minas Gerais, Brazil.
Under the agreement, DXN, a wellness and direct-selling company, is expected to invest not less than 100 million real (RM78mil) in the proposed project over five years from the date of registration of the public deed of donation with the Real Estate Registry Office of Ibia.
In a filing with Bursa Malaysia, DXN said the municipality has agreed to donate, subject to charges, a parcel of municipal land measuring approximately 10 ha within Business and Industrial Zone 2 in Ibia, Minas Gerais, for the proposed project. The group is also required to create and maintain between 200 and 250 direct and indirect jobs. — Bernama
