Malaysian Biotechnology Corporation, one of the largest biotech firms in Southeast Asia, said that it will be expecting a total of RM3 billion worth of investments in the sector this year. The company's initial target was RM1.75 billion.
Biotech Corp's chief executive officer Datuk Dr Mohd Nazlee said that with the company already surpassing its target for 2013, reaching RM3 billion before the year ends will be the icing on the cake. "We expect almost equal level of investments locally and from foreign countries," he continued, also revealing that foreign direct placements came from countries such as the United States, France, and Japan.
According to Adrian Ghani, a project director for Biotech Corp's several companies, BioNexus have collectively went over the benchmark. "It's been hovering at the RM2 billion mark for two years and we're optimistic it would surpass RM3 billion. We have seen a lot of improvements this year," he said, referring to the 224 BioNexus companies owned by Biotech Corp.
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