KUALA LUMPUR, Sept 17
(Bernama) — Malaysia is set to be the world’s first Halal Collagen Hub
with the successful takeover of a listed Australian biotechnology
company specialising in the development and commercialisation of ovine
Deputy Prime Minister Tan Sri Muhyiddin Yassin said the takeover by a
Malaysian BioNexus company was a significant step forward towards
becoming a world Halal Collagen Hub.
Holista Biotech Sdn Bhd, a Malaysian BioNexus Company, completed the
takeover of Colltech Australia Ltd, which holds a patent to extract
ovine collagen from sheep until 2023.
Ovine Collagen is culturally acceptable and halal-certified.
Muhyiddin said Malaysia’s biotechnology sector had within a short span
of time advanced a step forward, thus contributing to the country’s
“We hope to increase contributions of the biotechnology sector to five
per cent of the country’s gross domestic product,” he told reporters
after witnessing the signing of two agreements.
One agreement is for the joint venture between UEM Land Holdings Bhd
and Malaysian Biotech Corporation Sdn Bhd and the other between
Holista-Colltech, Universiti Sains Malaysia and Universiti Teknologi
Muhyiddin said though the percentage was rather high, various measures
have been taken to realise the target especially through planned
commercialisation programmes between 2011 and 2015.
” We have quite strong fundamentals as the basic principles are already
in place in the country. What is important now is to move forward to
the commercialisation phase and financing,” he said.
So far, 114 companies have been granted BioNexus status, he said.
Earlier, in his speech, Muhyiddin said a total investment of RM1.4
billion, including foreign direct investments, ranging from plant
genomics to animal breeding; nutraceuticals to stem cell engineering;
and bio-remediation to bio-fuels, have been approved.
” Despite the relatively short span of four years of industry
development, Malaysian BioNexus companies have demonstrated high value
capital growth with a combined market capitalisation of over RM2.3
billion for the three listed BioNexus companies,” he said.
In terms of earnings todate, the combined total revenue of BioNexus companies are in excess of RM400 million.