Three MOUs Worth over RM93 mil Exchanged During the Launch of BioMalaysia 2017

KUALA LUMPUR, Malaysia, Sept. 11, 2017 /PRNewswire/ -- Three Memorandum of Understanding (MOU) agreements worth over RM93 million were exchanged today during the launch of BioMalaysia & Asia Pacific Bioeconomy 2017 (BioMalaysia 2017). The MOUs further strengthened the trade and cooperation in the fields of bioeconomy between Ministry of Science, Technology & Innovation (MOSTI) and Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation), BioNexus companies, universities, healthcare companies and retail companies. The parties involved in the MOUs exchanged are:

  1. Rural Asset Group of Companies and Oudhcom LLC
  2. University Putra Malaysia and Malaysian Vaccines & Pharmaceuticals Sdn Bhd
  3. Algaetech International and Watson Malaysia

Minister of Science, Technology and Innovation, Datuk Seri Panglima Wilfred Madius Tangau was represented by Secretary General of MOSTI, Datuk Seri Dr. Mohd Azhar bin Haji Yahaya who officiated the launch of BioMalaysia 2017. He commented, "The MOUs are a testament to Malaysia's leadership in science, technology and innovation, and is a strategic platform for Malaysian companies to bring their bio innovations to the world. During BioMalaysia, we expect to see more potential trade and cooperation in various areas of bioeconomy to benefit the society. MOSTI's presence at Bio Malaysia 2017 will be centered on showcasing Malaysia's best practices and innovations in bio-based technology and attracting investments from institutions and companies located in the Asia Pacific region. Likewise, we are expecting more Malaysian companies to explore the Asia Pacific market."

Led by MOSTI and jointly organised by Bioeconomy Corporation and MyEvents International, BioMalaysia 2017 themed 'Driving Growth and Prosperity of the Nation' is held from 11 - 13 September 2017 at Kuala Lumpur Convention Centre. The three-day event will have speakers from Government, NGOs and private sectors offering specialized knowledge sharing, business networking and partnership programmes for international and local biotechnology industry players.

During the week, there will be talks, product demonstrations and business matching sessions that aim to disseminate information on current Science, Technology & Innovation efforts in the bio-based industry and provide a platform for Malaysian bio-based companies, entrepreneurs, scientists and graduates to tap into the vast experience, knowledge and innovation within the ecosystem while providing necessary support for the business development activities in bringing in investments to Malaysia.

Chairman of Bioeconomy Corporation, Tan Sri Zakri Abdul Hamid said: "We have an unprecedented opportunity over the next three days to prove to the world that Malaysia has taken important steps to ensure it becomes one of the most competitive bio-based hubs in the Asia Pacific region. Malaysia has become an emerging market model and we need to use that leadership to prove that an emerging market can drive positive change towards the evolving bio-based industry for the well-being of our communities."

Bioplastics Forum and Bio-Agropreneurship programmes are some of the main programmes carried out on Day 1 of BioMalaysia 2017. The Bioplastics Forum features discussions on key issues and challenges from the policy and directional perspectives of the National Bioplastic Policy in Malaysia, featuring key speakers from Bioeconomy Corporation, SIRIM Berhad, Ministry of Federal Territories and other companies. Meanwhile, the Bio-Agropreneurship programme is a combination between the Agropreneur Muda programme by the Ministry of Agriculture & Agrobased Industry (MOA) and Bioeconomy Community Development Programme (BCDP) by Bioeconomy Corporation to promote entrepreneurship in the agriculture industry and rural communities through bio-based technologies.

Among the sponsors for BioMalaysia 2017 are BioCon and Arkema (Gold Sponsors), Johor Biotech and Dr Reddy's Laboratories (Silver Sponsor) as well as Asia Plantation Capital (APC) and CJ Bio (Bronze Sponsors).

For more details on participation at BioMalaysia 2017 or to register attendance for talks and forums, visit http://www.biomalaysia.com.my.  

(fourth from left) Chairman of Bioeconomy Corporation, Tan Sri Zakri Abdul Hamid; Secretary General of MOSTI, Datuk Seri Mohd Azhar bin Haji Yahaya and (fourth from right) Chief Executive Officer of Bioeconomy Corporation, Dr. Mohd Shuhaizam Mohd Zain during the launch of 8 BioNexus products at BioMalaysia 2017
(fourth from left) Chairman of Bioeconomy Corporation, Tan Sri Zakri Abdul Hamid; Secretary General of MOSTI, Datuk Seri Mohd Azhar bin Haji Yahaya and (fourth from right) Chief Executive Officer of Bioeconomy Corporation, Dr. Mohd Shuhaizam Mohd Zain during the launch of 8 BioNexus products at BioMalaysia 2017

The Three MOUs:

1. Memorandum of understanding between Rural Asset Group of Companies and Oudhcom LLC

A joint venture to manage sourcing and procurement of raw agar wood chip, our and agar wood based fragrance products from Southeast Asia region and to be exported and distributed to Middle East markets.

2.  Memorandum of understanding between University Putra Malaysia and Malaysian Vaccines & Pharmaceuticals Sdn Bhd

Collaboration in Research and Development projects related to using New Castle Disease Vaccine (NDV) as oncolytic virus against cancer and development on vaccine and drug for commercialisation. 

3.  Product Listing Agreement between Algaetech International and Watson Malaysia

A collaboration to supply Premia Asta Ex Plus' supplement on a consignment basis in selected Watson outlets nationwide.

About Bioeconomy Corporation

Malaysian Bioeconomy Development Corporation Sdn Bhd (Bioeconomy Corporation) is the leading economic development agency for the bio-based industry in Malaysia. Bioeconomy Corporation is under the purview of Ministry of Science, Technology and Innovation (MOSTI) and is owned by the Minister of Finance Incorporated and Federal Lands Commissioner, providing support, facilitation and advisory services for bio-based and life sciences companies in Malaysia.

Bioeconomy Corporation has been facilitating the development of BioNexus Status companies in Malaysia. BioNexus Status is an accreditation given to international and Malaysian bio-based companies that qualify them for fiscal incentives, grants and guarantees administered by Bioeconomy Corporation. For further details, visit www.bioeconomycorporation.my

Bioeconomy Corporation is also the implementation agency for the Bioeconomy Transformation Programme (BTP), which is a platform provided by the Malaysian government for the private sector to channel and maximise commercial opportunities in bio-based industries. The BTP is designed as a Transformation Programme based on biotechnology's potential to cut across various industries and transform Malaysia into a high income, inclusive and sustainable nation.

Through the BTP and the facilitation of BioNexus Status companies, the society and nation will benefit from bioeconomy via the breakthroughs in agricultural productivity, discoveries in healthcare and the adoption of sustainable industrial processes, thus enriching our society and nation through wealth creation besides securing our future. For further information, visit www.bioeconomy.my.

For media inquiries, kindly contact:

Bioeconomy Corporation

Nur Aneita Abdullah Pandian                         
Senior Manager, Media, PR & Content Development,
Branding & Communications
Malaysian Bioeconomy Development Corporation
Tel: +603 2116 5588
Fax: +603 2116 5313
Email: aneita.abdullah@bioeconomycorporation.my

Nur Akmar Yusoff
Executive, Media, PR & Content Development,
Branding & Communications
Malaysian Bioeconomy Development Corporation
Tel: +603 2116 8548
Email: akmar.yusoff@bioeconomycorporation.my

Brian Chow
Senior Executive, Media, PR & Content Development,
Branding & Communications
Malaysian Bioeconomy Development Corporation
Tel: +603 2116 8561
Email: brian.chow@bioeconomycorporation.my

Photo - https://photos.prnasia.com/prnh/20170911/1938361-1

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