Biosis unit inks MoU with YBU Holdings

TMRFriday, June 19, 2015

Biosis Group Bhd’s unit Biosis Development Sdn Bhd (BDSB) has inked a memorandum of understanding (MoU) with YBU Holdings Sdn Bhd (YBUH) to form a joint venture to develop and operate the first Medical Device Refurbishment and Innovation Park in South-East Asia. In an exchange filing yesterday, Biosis said both BDSB and YBUH will jointly combine their expertise and leveraging on each others’ resources to materialise the park which will be located in a 45.16 acres of land in Perak. However, Biosis said the process of land acquisition is pending for the approval from the Perak Land and Mines Department. The company expects the MoU to improve its earnings for the financial year ending March 31, 2016.

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