BIONEXUS APPLICATION AND INCENTIVES
20th December 2012
Presentation at the Marine Fish Farmers Association (MFFAM) Seminar
Penang
Organization Structure
International Advisory PanelInternational Advisory Panel
Implementation CouncilImplementation Council
Ministry of ScienceMinistry of ScienceTechnology & Innovation Technology & Innovation
Chairman Board of Directors
CEO
Honorable Prime Minister of MalaysiaYAB Dato’ Seri Najib Tun Razak
Ministry of FinanceMinistry of Finance
Federal Lands Federal Lands Commisioner (JKPTG)Commisioner (JKPTG)
BIOTECHCORP - The Agency
Innovation to create wealth by utilising and advancing biotechnology for socio-economic benefits of the nation in accordance with established social and ethical norms
• Established in 2005• Primary Government Development Agency for Malaysia’s biotech industry• Identify value propositions in R&D and commerce and support these ventures via financial assistance and developmental services.
BiotechCorp’s key mandates
• Act as a one-stop-centre
• Nurture and accelerate growth of Malaysian biotechnology companies
• Create conducive environment for biotechnology
• Actively promote FDI in biotechnology
MALAYSIAN BIOTECHNOLOGY CORPORATIONMALAYSIAN BIOTECHNOLOGY CORPORATION
Position biotechnology as the new economic engine to enhance prosperity and wellness of the nation by 2020 through Healthcare, Industrial and Agriculture biotechnology
Enhance R&D and Tech Acquisition, Human Capital Development, Legal and Financial Structure
VISIONVISION
MISSIONMISSION
BioNexus Status Incentives
INCENTIVES
BILL OF GUARANTEES
TAX HOLIDAY
FACILITATION SERVICES
ONE STOP CENTRE
List of Tax Incentives Available for BioNexusStatus Company
For BioNexus Status Companies:
1.Income tax exemption on statutory income for 10 yearsor 5 years (expansion project)
2.Income tax exemption for qualifying capital expenditure3.20% tax rate after tax exempt period4.Double deduction on expenditure incurred for research & development5.Double deduction on expenditure incurred for promotion of export6.Import duty & sales tax exemption7.Industrial Building Allowance8.Stamp duty & real property gain tax exemption for merger
or acquisition
For Investors / shareholders:
9.Deduction for investment in BioNexus status companies10.Tax exempt dividend income
FACILITATION SERVICES-One stop Centre
For BioNexus Status Companies:
1.BiotechCorp has various divisions and departments eg: Financial transaction, Business Development, Government Liason, Training, BioNexus Development Division, Immigration
2.Work with Economic Corridors such as ECER, NCIA, Iskandar (IRDA), SCORE, SEDIA , Yayasan Sabah etc for incentives, funding, land etc.
3.UniversitiesFor research collaborations, joint fund applications and capacity building
4. Technology partnerships eg. CMDV (Centre for Development and Validation)
5. Funding: Soft Loan
AQUA/MARINE
Breeding
FishAlgae
Crustaceans
SaltwaterBrackishFreshwaterPrawns Crabs
Microalgae
Health
Vaccines
Diagnostic Kits
Feed / Nutrition
MAS/GENOMICS
FOCUS AREA: AQUA/MARINE BIOTECHNOLOGY
Fish Prawns
Macroalgae
Hatchery Broodstock Cultivation
Lobsters
Mollusc
Eligibility Criteria
Establish a separate legal entity for BioNexus qualifying business activities
Provider of Products or Services based on Life sciences or substantially using life-science processes in production or agriculture
Possess capability and conducts research in thrust area and knowledge worker employment
Complies with environmental and ethical laws and guidelines
BiotechCorp to be part of this ecosystem working together with the various stakeholders (DOF, MOA,
Economic Corridors and the industry players, NGOs) to ensure that the aquaculture industry
grows to ensure food security and sustainability and with the highest standards of best aquaculture
practices
Thank You