BAHRAIN COMPANY TO HELP DEVELOP KNOWLEDGE-BASED BIO ECONOMY IN MALAYSIA

KUALA LUMPUR, March 31 (Bernama) -- Bahrain-based life science and
biotechnology industry developer BioMe Co W.L.L, is sourcing for a location in Malaysia to facilitate knowledge-based bio-economy (KBBE) development and investment in Malaysia.

"We have initiated the process to identify the right location together with
MIDA (Malaysian Investment Development Authority). We are talking to different
states for a potential place and hope to conclude the identification by end of
this year," said BioMe's Managing Director and Head of Business Unit on Projects
and Planning Michael P.W. Mueller.

MIDA, Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) and BioMe
today signed a Memorandum of Understanding for the facilitation of KBBE at the
Invest Malaysia 2010 Conference.

Mueller said BioMe, which focuses on knowledge based industries in
particular life science industries with emphasis on biotechnology
as core enabling process, planned to develop a global example of sustainability,
with the generation and use of renewable biomass for the production of high
value added products targetting the local, regional and global markets.

"It's a new company we will bring forward once the location has been
identified. This has not been sorted out yet," he said.

On the investment amount, he said it would run into several hundred millions
for the initial phase.

"Along with the support of MIDA and BiotechCorp, we are positive KBBE will
be a global landmark with a compelling value proposition for Malaysia, the Gulf
and the international community," he said.

Iskandar Mizal, Chief Executive Officer of BiotechCorp said the
implementation of KBBE in Malaysia will be a major contributor to the national
economy.

Quoting the Human Capital Development Report 2009 by Frost & Sullivan, he
said the Malaysian biotechnology industry was expected to generate RM45 billion
(US$13.74 billion) in revenue by 2013.

-- BERNAMA