Updated on 18 September 2012
What are the prime sources of funding for Bio-XCell and how much has been invested so far?
Our main source of funds comes from our shareholders, BiotechCorp and UEM Land. In March 2011, we entered into an agreement with Malayan Banking for $79 million (RM250 million). Commodity Murabahah Term Financing - Islamic Facility (CMTF-i) will also partly fund the completion of phase I of Bio-XCell.
The phase I development entails an investment 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.