Bioalpha inks partnership agreement with Chinese firms
22 Jul 2020
Bioalpha Holdings Bhd’s wholly-owned subsidiary Bioalpha (HK) Ltd has entered into a partnership agreement (PA) with two Chinese companies to strengthen its presence in the world’s most populous country.
It signed the PA with Guizhou Yuhexin Trading Ltd (GYHX) and Hainan Shifengfu Co Ltd, and also inked a supply contract agreement (SCA) with GYHX.
In a filing with Bursa Malaysia today, the group said the agreements involved health food and nutritional meals, technology transfer, research and development, manufacturing, and trading.
It also intends to introduce health food formulations catering to the target market.
“It is an opportunity for the company to supply unique health ingredients that are available in Malaysia and worldwide.
“These PA and SCA serve to affirm Bioalpha’s maiden step to strengthen its presence in China,” it said.
The company said the PA and SCA are not expected to have any immediate material effect on the group’s earnings per share, net assets per share and its gearing for the financial year ending Dec 31, 2020 as the project would be funded through internally generated funds.
Barring unforeseen circumstances, the group expects the ventures to contribute positively to its future earnings by end-2020.