Friday 29 Mar 2024
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KUALA LUMPUR (Aug 7): Bioalpha Holdings Bhd said its subsidiary has been contracted to manufacture food-based products to be sold in China.

In a filing with Bursa Malaysia, Bioalpha said Bioalpha International Sdn Bhd has signed an agreement with Jinrui Yandetang Co Ltd to develop a formulation and manufacture eight food-based products for Jinrui.

Bioalpha International will own the rights of the trade secret for the required raw materials, formulations and manufacturing processes.

All products listed in the agreement cannot be manufactured by any other factory, other than Bioalpha International.

Jinrui, on the other hand, will be responsible to ensure the requested manufactured products, raw materials and packaging, are compliant with China’s laws. Jinrui will carry out the relevant needful processes with the Chinese customs, in order for the products to be commercialized.

The agreement states any dispute between Bioalpha International and Jinrui will be settled by the China International Economic and Trade Arbitration Commission in Beijing.

Bioalpha’s share price closed unchanged at 19.5 sen today, giving it a market capitalisation of RM167.74 million.

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