Updated on 21 May 2012
What is the current state of investments by international clients at BioXCell?
Mr Ramli: We have four MNCs of prominence and 10 more in the pipeline, in various stages of discussion. We have tied up with Biocon, India's leading player in insulin production, and we will host their first manufacturing plant outside India. The facility should be operational by 2014 and their investment is worth $158 million (RM500 million).
Another company, Agila Specialities, a subsidiary of India's Strides Arcolab is the latest entrant into Bio-XCell. They are a manufacturer of sterile injectables. Agila should be operational by late 2013 and their investment is valued between $20 and $25 million (RM60 million-RM80 million). Another company called Metabolic Explorer from France will be operational by the end of 2012 and will be the first in the world to produce 1:3 Propanediol from crude glycerine. Metex's investment is approximately $31 million (RM100 million). Also, GlycosBio, US, will use their proprietary technology to produce technical grade ethanol using crude glycerine. Their facility should be operational by end 2012. Glycos's investment is approximately $14 million (RM45 million) for phase I.
What are the prime sources of funding for Bio-XCell and how much has been invested so far?
Mr Ramli: Our main source of funds comes from our shareholders, BiotechCorp and UEM Land. In March 2011, we entered into an agreement with Malayan Banking Berhad (Maybank) for $79 million (RM250 million). Commodity Murabahah Term Financing - Islamic Facility (CMTF-i) will also partly fund the completion of phase I development of Bio-XCell.
The phase I development entails an investment cost of $301 million (RM950 million), funded by foreign direct investments, Islamic debts and shareholders' equity. This reflects strong market acceptance and confidence in the project, including its value propositions. Bio-XCell is the first dedicated and managed biotechnology park for Malaysia.
How is Bio-XCell creating an impact on Malaysia's economy?