Petaling Jaya, October 27, 2003 – Main Board-listed Amway (Malaysia) Holdings Berhad (Amway) has posted an unaudited turnover of nearly RM422.3 million for its financial year ended August 31, 2003, an increase of 9% compared to last financial year.

Amway's two wholly-owned subsidiaries, Amway (Malaysia) Sdn Bhd and Amway (B) Sdn Bhd are involved in the distribution of consumer products principally under the "Amway" trademark.

"Everything came together for Amway resulting in another record year for the company. Increased distributor productivity, an enhanced sales incentive plan, new product introductions and effective product promotions were the main engines of growth in the company's turnover," said Low Han Kee, Managing Director of Amway.

Pre-tax profit was RM73.96 million, slightly down from the previous year's pre-tax profit of RM75.74 million. The dip was mainly attributable to the company recognising an impairment loss of RM6,225,000 in relation to two pieces of freehold land which were written down to their recoverable amounts based on an independent professional valuation as well as an increase in operating expenses.

"The unrealised loss was an effect from the compliance with the Malaysian Accounting Standard Board and in the spirit of good corporate governance. Excluding this, Amway's pre-tax number would actually have been higher," explained Low.

"Still, the company has performed beyond our expectations and the higher sales was achieved during a climate of economic uncertainty that was underpinned by global events. Amway's continued thrust in driving sales has its merits in the strong partnership that exists between the company and its distributors. As the company strives to support their business with better incentives, product promotions, enhanced channels of ordering and product education, the distributors are better able to sell, sponsor and service their customers."

Amway also announced a fourth quarter interim dividend of 7.5 sen per share less 28% income tax. With that, Amway has paid out a total dividend of 50 sen amounting to a total pay-out of RM59,179,000 (after 28% tax) for the full financial year ended August 31, 2003.

About Amway
Amway is one of the leading direct selling companies in Malaysia. The company, which began operations in 1976, offers a wide range of meaningfully differentiated quality products under its five core product lines namely Nutrition and Wellness (NUTRILITE vitamins and dietary supplements), Skin Care & Cosmetics (ARTISTRY skin care and cosmetic products), Personal Care (including oral care, toiletries and hair care products) Home Care (including laundry and car care products and household cleaners); and Home Tech (including water treatment system and cookware). In addition, the company's PERSONAL SHOPPERS Catalogue offers locally-sourced and manufactured consumer products, from food and beverage to watches, garments, personal accessories and household appliances.