KUALA LUMPUR: Meta Bright Group Bhd (MBG) signed a memorandum of understanding (MoU) with ChemPartner Pharmatech Co Ltd (CP) to
develop pharmaceutical and biotechnology hub in Malaysia, marking a significant milestone in MBG’s expansion into these sectors.
This collaboration leverages CP’s extensive expertise and global standing to elevate MBG’s capabilities in the pharmaceutical and biotech arenas.
The collaboration aims to develop a pharmaceutical and biotechnology hub in Malaysia, focusing on research and development, manufacturing, and commercialising pharmaceutical products and biotechnological advancements.
This initiative represents a pioneering collaboration with a leading Chinese-listed company to establish such a hub in Malaysia.
The signing ceremony was held in Shanghai, China, and was witnessed by deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi.
CP, a company listed on the Shenzhen Stock Exchange with a market cap of approximately 2.4 billion renminbi (around RM1.6 billion), is renowned for offering comprehensive integrated services.
These services include discovery chemistry, biology, pharmacology, drug metabolism and pharmacokinetics (DMPK) and toxicology.
As a leading contract development and manufacturing organisation (CDMO), CP specialises in biologics discovery, development, and manufacturing.
MBG managing director Lee Chee Kiang said this collaboration marks an exciting new chapter for the company.
“This project differentiates us from typical developments as it involves creating a niche market with a leader in the pharmaceutical and biotech sectors.
“Moving beyond traditional development projects, we have positioned ourselves to take on sophisticated projects. We are confident that this venture will solidify our position as a leading player in the market and contribute to the broader economic development of Malaysia.
“Both MBG and CP share the same vision of strengthening bilateral relationships to contribute to Malaysia’s economy.
“By leveraging CP’s expertise in pharmaceuticals and MBG’s strength in property development, we are set to create a groundbreaking hub that will benefit both our nations,” Lee said in a statement.
CP chairman Datuk Woo Swee Lian said this cross-border collaboration with MBG will not only enhance the company’s global reach but also bring significant benefits to both China and Malaysia, fostering innovation and economic growth in the region.
A filing with Bursa Malaysia shows that under the MoU, MBG will identify a strategic site for establishing the hub and oversee the construction and development of laboratories, manufacturing facilities, office and retail spaces.
Additionally, MBG is committed to implementing environmentally sustainable practices to minimise ecological impact and promote green initiatives.
CP, on the other hand, will seek and facilitate investment opportunities to support the hub’s growth and development.
The company will engage with China-based pharmaceutical and biotech companies, academic institutions, and research organisations to foster collaboration within the hub.
Besides that, the hub is anticipated to increase demand for renewable energy and energy efficiency solutions, operating leasing services for machinery and equipment, and building materials such as concrete.
This will consequently strengthen MBG’s energy, leasing, and building materials businesses.
MBG executive director of corporate and strategic planning Derek Phang Kiew Lim said the development of this pharmaceutical and biotechnology hub is a strategic move to diversify the company’s portfolio and a step towards contributing to Malaysia’s growing reputation as a centre for scientific research and development.
‘We are excited about this hub’s potential for fostering innovation and creating new opportunities in all the relevant sectors,” he said.
The collaboration marks a new chapter for MBG, with the potential to bring substantial advancements and drive the company to new heights in the pharmaceutical and biotechnology sectors.
The partnership with CP is expected to propel MBG into a new era of growth and success, solidifying its position as a leading player in the market.
