MLM companies are thriving in Malaysia with an influx of young and educated Malaysians looking to make a quick buck, according to news reports.
In 2018, a new generation of MLM professionals began to emerge in Malaysia.
In 2017, Malaysia was home to just one MLM company.
In 2016, there were seven MLM businesses, with only two more companies in the pipeline, according the Malaysian government.
Malaysia is the world’s fifth largest MLM market and is currently home to more than 60,000 MLM firms, according to a 2017 report by the Malaysia Investment Corporation.
“The industry has reached its zenith in Malaysia and we are seeing the growth rate increase as more and more young Malaysians have decided to take advantage of the opportunities presented by the MLM sector in Malaysia,” said Malay Lilliesong, chairperson of the Malay Association of MLMs.
With a large number of young people who have already been introduced to the MLMs by their parents, the market is ripe for MLMs to expand.
The number of MLIs in Malaysia rose from 1,073 in 2019 to 1,723 in 2020, according data from the Malaysian Government.
In 2020, MLIs grew by 5.2 percent, while the growth of the overall market fell from 9.3 percent to 7.1 percent.
There are around 2,000 different MLIs operating in Malaysia according to the Malay National Association of Private Limited Companies (MNAPL).
The MNAPL has also stated that the MLIs are growing by 5,000 percent in the next 12 months, according to a statement.
It is estimated that the number of active MLIs has increased by 20,000 per month since January 2020, while there are an estimated 70,000 active MLAs in the country.
In 2018, there are approximately 4,600 MLIs registered in Malaysia as of March 2020, compared to 5,500 in 2019, according a report by Malayan Business Times.
As of March 2019, the number in the MLI market stood at 2,927.
The number of new MLIs had more than doubled from 719 in 2019 and was up by 20 percent over the previous year.
A number of other MLIs have sprung up across the country, according Malaysian Business Times, with some of the largest being Kuala Lumpur MLM in the Singapore region and Hong Kong MLM.
However, the Malaya MLM industry is not yet mature, with its peak of 10,000 businesses registered in 2020 still being surpassed by 2018, the MNAPT said.
But there is a lot of optimism in Malaysia about the MLP industry.
According to the Malaysian National MLM Association, a number of industries are set to start growing again and in 2019 will see a total of 10 MLPs operating across the world.
And according to a recent survey by Kensington Mental Health and Mental Health Education Association (KMBHEA), the mlm industry in Malaysia is set to reach the 10 million mark in 2020.
KMBHHEA also reported that there were 1,527 MLM enterprises operating in the region in 2020 and a further 1,000 were set to enter the market in 2019.
MLM industry experts said there was a clear correlation between MLM and the MLPS sector in Malaysian.
They also pointed out that the industry is still growing in Malaysia due to the new generation of professionals who are entering the MLPs market.
One MLM business in Malaysia that is already thriving is The Mindful Body, a company that offers personal coaching to MLMs and their affiliates.
Mindful Body CEO Mudi Zulkifli told The Korean Newstalk that the company has been operating in Kuala Lumpur since its inception in 2019 with its first business launched in April 2018.
He said that the business has been growing from about 1,600 to over 3,500 business per month and is looking to expand to a bigger number of businesses in the near future. Mudi said MLMs are currently the fastest growing segment in Malaysia but they have a lot more to offer than just sales.
For example, Mindful Body offers a series of personal coaching services to MLPs in Malcolm Wood, the former chairman of Malaysia’s National Health Insurance (NHI) Commission and a former member of the Malaysian Cabinet.
Mindfulness Body is also currently looking to open a new office in Malaysia’s capital city of Malacca as well as other key locations in the region, including Mangkalan City