Meet our board of directors who carries the main responsibility...
Following our establishment over three decades ago, we are honored to say that today Mega Lifesciences remains just as dedicated to our continuous efforts to cultivate passion and care for ‘Human Wellness’ internationally. This is a journey that we have undertaken with the hard work of our people and support of our shareholders, customers and business partners. And for that we are and always will be grateful.
Helping people stay healthy as long as they live.
Overall, it was a tough year for businesses across the world and it is probable that the global corporate climate will continue to experience a period of weakness and volatility for the following few years. Mega has correspondingly been affected by the various drops in commodity prices felt throughout developing countries. Either the currency has been affected adversely, with inflation taking hold, or commercial growth has slowed, affecting consumer behaviour.
Within our emerging market constituencies, Ukraine and Yemen have experienced war and continue to feel the aftermath. Thailand has not fully recovered from the economic slowdown, and the run-on effect from China’s economic growth retraction has been felt across the Asia region and beyond. Following the 2015 elections, Myanmar shows great long-term economic promise but understandably needs to develop through its current growing pains. As it stands, Vietnam is developing to be the brightest place to do business in the ASEAN market, having gone through a correction period in the last five years.
In spite of some the negative news, Mega remains on our defined path to develop our businesses in ASEAN and Africa. This is partnered with the endeavour to cautiously yet tactically build our expansions into the nine CIS countries, the Middle East and Latin America.
Reinforcing these advancements is the advent of many solid partnerships and expansions in the past year. This includes the deal to develop and register drugs in Indonesia with PT Sydna Farma, one of Indonesia’s foremost pharmaceutical players. This Indonesian-Thai amalgamation will now be one of the largest in ASEAN. Additionally, we have entered into various dynamic African markets that show strong future promise; Ethiopia, Rwanda and Burundi–with combined populations of approximately 116 million. Currently, we are evaluating Nepal and Iran as the next areas of potential expansion.
And to cater to projected future growth in ‘Asia’s last frontier,’ we plan to set up a distribution centre in Myanmar. This move is supported by the appointment of new partners in Myanmar, which will further bolster the Maxxcare distribution business
Despite the fact that the business environment will remain unfavourable, we believe the worst is over for Mega. We have a robust pipeline and our primary middle-class customers will continue to lead the growth in our markets.
The Mega new innovation initiative for 2016 is branching out to health-related businesses, which is piloted by the opening of our proprietary Wellness Center in August 2016. The ‘Megaveda’ range and ‘Natural We Care’ series of plant-based foods, free of colors and preservatives and low in sugar and sodium, are being developed.
My belief is that our journey to good health starts with ourselves and certainly food is a key if not the most important part. We are committed to fostering Mega’s ongoing growth and are excited for the journey ahead. Health is the greatest wealth anyone can have, and we are proud to be assisting people on a growing scale to obtain this.
CEO & Chief Coach