Resintech Bhd, a fully integrated provider of polyethylene products and unplasticised polyvinyl chloride (uPVC), announced the signing of a Memorandum of Understanding for the acquisition of a 30% stake in Bionutricia Holding Sdn. Bhd from the controlling shareholders for the sum of RM8.7 million.
Bionutricia is a biotechnology firm established in 2006 specialising in the production and commercialisation of plant- and fruit-based extracts and active fractions from local herbs through advanced nano-biotechnology processes. Its products include proprietary standardised herbal plants and fruits-based extracts, food supplements, baking ingredients, nutraceutical ingredients, healthcare products, and functional food ingredients. Its facilities are certified GMP, HACCP, JAKIM Halal, and kosher.
Resintech is acquiring the stake from the controlling shareholders, Ng Kuak Ping (“Ng”) and Kong Siew Mee, Bionutricia’s Chief Executive Officer and General Manager, respectively.
Managing Director of Resintech, Dato’ Dr. Teh Kim Poo said, “The heightened awareness and education on food safety in recent years have meant that people are more careful in what goes into the processing of the food and beverages they consume. Bionutricia’s green biotechnology extraction processes are suitable for colouring and flavouring in food and beverages because of the natural ingredients used”.
“Our entry into the biotechnology space through the acquisition of the 30% stake in Bionutricia is recognition of the growth opportunities from the increasing food-safety awareness among consumers. We expect demand for safer and natural food colourants and flavourings to grow exponentially as a result of these health and food-safety concerns.”
