KUALA LUMPUR (Sept 21): Hai-O Enterprise Bhd's first quarter net profit rose 46.9% to RM9.74 million or 5.03 sen per share, from RM6.63 million or 3.39 sen per share a year earlier, mainly contributed by its multi-level marketing and wholesale divisions. On its multi-level marketing division, Hai-O said it will continue to emphasize new products development strategy, intensify new member recruitment programme as well as members' retention programme. It added the wholesale division will continue to explore new agencies with its principals to widen its products distribution base. Given all these, Hai-O remained optimistic that it will continue to be profitable in the next quarter. Hai-O's share price shed seven sen or 2.01% to close at RM3.41 today, valuing the company at RM658.19 million.

Source: The Edge Markets September 21, 2016 11:15 UTC