Biotechcorp eyes Rm3bil investments It surpasses target of Rm1.75bil for this year
Malaysian Biotechnology Corp Sdn Bhd (BiotechCorp) expects to attract RM3bil worth of investments into the local biotechnology sector this year, surpassing its initial target of RM1.75bil.
BiotechCorp chief executive officer Datuk Dr Mohd Nazlee Kamal said investments so far this year were already close to RM2bil.
“We have already surpassed our target for the year. If we can achieve RM3bil by year-end, we’d be happy,” he said at a press conference yesterday on BiotechCorp’s upcoming BioMalaysia & BioEconomy Asia Pacific 2013 conference and exhibition later this year.
“We expect almost equal level of investments locally and from foreign countries,” said Nazlee, whorevealed that the foreign direct investment was from countries such as the United States, Japan and France.
On another note, BioMalaysia & BioEconomyAsia Pacific2013project director Adrian Abdul Ghani said BiotechCorp expected its 224 BioNexus companies to collectively “breach the RM3bil revenue mark” this year.
“It’s been hovering at the RM2bil mark for two years and we’re optimistic it would surpass RM3bil. We have seen a lot of improvements this year.”
Nazlee concurred, saying, “The BioNexus companies have been producing more products.”
BioNexus status is accorded to biotechnology companies that qualify under the Malaysian Bill of Guarantees, which provides access to commercialisation and tax incentives.
Nazlee also said BiotechCorp expected at least two BioNexus companies to be listed by next year.
“Currently, we already have four companies listed. Some are listed overseas,” he disclosed.
Meanwhile, the BioMalaysia & BioEconomy Asia Pacific 2013 conference and exhibition, which is now in its 11th year, will be held at the Persada Johor International Convention Centre in Johor Baru from Oct 21 to 23.
Nazlee said the annual conference and exhibition was expected to showcase presentations, new product launches, product demonstrations and business partnering sessions.