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KUALA LUMPUR, June 19, 2015:
Biosis Development Sdn Bhd (BDSB), a wholly-owned subsidiary of Biosis Group Bhd, has entered into a memorandum of understanding (MoU) with state firm YBU Holdings Sdn Bhd for the establishment of a joint venture to develop and operate the first medical device refurbishment and innovation park in Southeast Asia.
Under the MoU, both entities agreed to collaborate by using their combined expertise and leveraging on each others’ resources to establish and develop the proposed Health and Medical Technology Innovation Park in Perak, located on an 18.28ha site in Larut and Matang district.
In a filing to Bursa Malaysia, Biosis said the agreement was expected to improve the group’s revenue and earnings for the financial year ending March 31, 2016. BDSB is principally involved in property development.