Recognizing the growing demand and importance of biotechnology industry, Government of Malaysia has recently formulated a policy by name “Biotechnology Policy ” under which it envisages to encourage the industry on a large scale by setting up a biotechnology park in Malaysia and provide incentives such as Income tax exemption, Import duty exemption and sales tax exemption etc. The promoters of this company who had earlier set up a company- "SAAMYA BIOTECH (INDIA) LTD" in Hyderabad, India (the fermentation plant being established in the S. P.Biotech Park, Hyderabad, Andhra Pradesh, India) had decided to establish another Biotech unit in the Pharmaceutical Industrial Park, Seri Iskandar, Ipoh, Perak, at a location of the envisaged site in Malaysia. In view of incentives and Govt. support the company will apply to MIDA for incentives and exemptions under the high technology companies.
The Company proposes to manufacture Biopharmaceuticals in the plant proposed to be located at Pharmaceutical Industrial Park, Seri Iskandar, Ipoh, Perak State, Malaysia. The Company is supported by renowned Scientists and Technocrats in the field of biotechnology.
The cost of the project is estimated at USD 29.201 million. The project is financed by equity share capital of USD 9.330 million which includes Core-Promoters' contribution /Govt. participation and Private Placements / Public issue, and term loan of USD 19.871 million planned to obtain from Financial institutions.