ID :
145283
Fri, 10/08/2010 - 12:40
Auther :
Shortlink :
https://oananews.org//node/145283
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TOP FOREIGN PHARMACEUTICAL COMPANY TO INVEST RM1 BIL IN MALAYSIA’S BIOTECH
SINGAPORE, Oct 8 (Bernama) –- A foreign top brand pharmaceutical company is
expected to invest about RM1 billion (US$323.7 million) in biotechnology project
in Malaysia this year.
Malaysian Biotechnology Corp (BiotechCorp) chief executive officer Iskandar
Mizal Mahmood said the investment would be the biggest ever by a company that
the corporation had pulled off since its inception five years ago.
Speaking to Malaysian reporters here, Iskandar said he however could not
reveal the name of the company yet, adding that it would be announced before or
during the coming BiotechCorp’s BioMalaysia 2010, an exhibition-cum-conference
event, to be held in Kuala Lumpur next month from Nov 1 to Nov 3.
Iskandar was in the city-state last night to receive an award from Frost and
Sullivan in recognition of BiotechCorp’s significant excellence in growth
leadership.
Iskandar said the pharmaceutical company would take up a sizeable plot at
BioXCell, a biotech park on 32.37 hectares in the Southern Industrial and
Logistics Clusters (SiLC) in Nusajaya in Johor.
The biotech park is currently being developed as a clean and green
industrial park by Malaysian BioXCell Sdn Bhd, a 40-60 joint-venture company
between UEM Land and BiotechCorp, respectively.
Iskandar said the biotech sector had great potential to become a huge
industry for the country in the near future especially in the industrial,
agricultural and healthcare fields.
He said the biotech sector, which contributed 2.2 per cent to the gross
domestic product last year, was expected to grow this year to 2.5 per cent.
On the award, Iskandar said the recognition was not only for BiotechCorp,
but also for Malaysia, especially to Prime Minister Datuk Seri Najib Tun Razak,
whose insights had put the biotech sector in good stead.
Iskandar also said after five years of capacity building, Malaysia’s biotech
sector would be moving into the second phase next year, when BiotechCorp would
start commercialising the local biotech products to the world market.
To date, BiotechCorp has facilitated the development of 173 BioNexus-status
companies in Malaysia with RM1.78 billion (US$576.2 million) in total approved
investment.
BioNexus-status companies are international and Malaysian biotech companies
which qualify for fiscal incentives, grants and guarantees administered by the
corporation.
expected to invest about RM1 billion (US$323.7 million) in biotechnology project
in Malaysia this year.
Malaysian Biotechnology Corp (BiotechCorp) chief executive officer Iskandar
Mizal Mahmood said the investment would be the biggest ever by a company that
the corporation had pulled off since its inception five years ago.
Speaking to Malaysian reporters here, Iskandar said he however could not
reveal the name of the company yet, adding that it would be announced before or
during the coming BiotechCorp’s BioMalaysia 2010, an exhibition-cum-conference
event, to be held in Kuala Lumpur next month from Nov 1 to Nov 3.
Iskandar was in the city-state last night to receive an award from Frost and
Sullivan in recognition of BiotechCorp’s significant excellence in growth
leadership.
Iskandar said the pharmaceutical company would take up a sizeable plot at
BioXCell, a biotech park on 32.37 hectares in the Southern Industrial and
Logistics Clusters (SiLC) in Nusajaya in Johor.
The biotech park is currently being developed as a clean and green
industrial park by Malaysian BioXCell Sdn Bhd, a 40-60 joint-venture company
between UEM Land and BiotechCorp, respectively.
Iskandar said the biotech sector had great potential to become a huge
industry for the country in the near future especially in the industrial,
agricultural and healthcare fields.
He said the biotech sector, which contributed 2.2 per cent to the gross
domestic product last year, was expected to grow this year to 2.5 per cent.
On the award, Iskandar said the recognition was not only for BiotechCorp,
but also for Malaysia, especially to Prime Minister Datuk Seri Najib Tun Razak,
whose insights had put the biotech sector in good stead.
Iskandar also said after five years of capacity building, Malaysia’s biotech
sector would be moving into the second phase next year, when BiotechCorp would
start commercialising the local biotech products to the world market.
To date, BiotechCorp has facilitated the development of 173 BioNexus-status
companies in Malaysia with RM1.78 billion (US$576.2 million) in total approved
investment.
BioNexus-status companies are international and Malaysian biotech companies
which qualify for fiscal incentives, grants and guarantees administered by the
corporation.
