Bioalpha Clarifies Query From Bursa On Its JV In China

Bioalpha Holdings Bhd responded to a query from Bursa Malaysia in respect its Joint-Venture with Shanghai Listed Suzhou Medical Systems Technology LTd to make inroads into supplying its homegrown health supplements into the voracious Chinese market.

The query from Bursa is in respect of the details of SMT, breakdown of the total capital and investment outlay in the Joint Venture, the eventual share capital and number of issued shares of the Joint Venture corporation, equity interest held and to be held by the respective parties, the name of the Joint Venture corporation,   The source(s) of funds for financing the investment in the joint-venture corporation, and the breakdown  If no Joint Venture corporation will be set up, the terms of cost and profit-sharing and the estimated total cost of the project.

In a statement, it said that the share capital would be BISB (47.77%), SMT (33%) and BHHB (19.23%) respectively. However, the final number of issued shares capital of JVCO has yet to be finalised.

It said that the equity interest held and to be held by the respective parties would be BISB (47.77%), SMT (33%) and BHHB (19.23%) respectively.

The name of the JVCO namely Suzhou BioMedic Biotechnology Co. Ltd with its address at Station 6F-646, Medic System Technology Building, No. 222, Guijia Lane, Suzhou Industrial Park

The company said that the source of funds for financing the investment in the joint-venture corporation comprised a combination of cash consideration of RMB6,000,000 from MEDIC and RMB10,060,000 from BISB by way of transferred intellectual properties (“IPs”) which included the rights to register and commercialise the formulations in China.

The source of funds for financing the investment in the joint-venture corporation comprised a combination of cash consideration of RMB6,000,000 from MEDIC and RMB10,060,000 from BISB by way of transferred intellectual properties (“IPs”) which included the rights to register and commercialise the formulations in China.

Previous articleNational Palm Oil Sustainability Initiatives to Establish Warmer Trade Relations with European Union (EU)
Next articleEquity Fund Investors Gets A Chance To Invest In VC Fund Through Emissary Capital

LEAVE A REPLY

Please enter your comment!
Please enter your name here