Home » Malaysia Set To Be World’s First Halal Collagen Hub

Malaysia Set To Be World’s First Halal Collagen Hub

News From : DagangHalal.com (17 Sep 2009)

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 collagen.

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 growth level.

“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 Malaysia.

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.

— BERNAMA

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