Malaysian Industry-Government Group for High Technology (MIGHT) is working to collaborate with both the United Kingdom (UK) and Japan in financing projects related to science, technology and innovation (STI) in Malaysia

The Malaysian Industry-Government Group for High Technology (Might) is working with the United Kingdom (UK) and Japan to finance science, technology and innovation (STI) projects in Malaysia.

Might Joint-Chairman Prof Tan Sri Zakri Abdul Hamid said the Malaysian government had been working with the British government to set up the Ungku Amar Newton Fund to enhance research and development (R&D) in the local STI industry.

"The British government will allocate four million pounds a year, for five years, into the fund, which will be matched equally by us," he told a press conference after the company's annual general meeting here Friday.

Zakri, who is also the Science Advisor to the Prime Minister, said a memorandum of understanding for the collaboration between Malaysia and the UK would be signed soon, adding that the four million pounds needed to be spent by March 2015.

He noted that the priority areas that the R&D would focus on were the impact of climate change on areas such as water, energy, health and food security.

Meanwhile, on its role in technology nurturing, Might Technology Nurturing (MTN) has signed a heads of agreement with Japan-based Asian Energy Investment Pte Ltd to create a fund management company called Putra Eco Ventures Inc in September last year.

Might President and Chief Executive Officer Dr Mohd Yusoff Sulaiman said the objective of the fund was to invest in efficient and renewable energy assets and businesses.

"Putra Eco Ventures will kick off with US$10 million, which will be replenished once finished. We will start with Melaka because they have already announced their green action plans for the state.

"The potential targets for funding from Putra Eco Ventures involves a lot of projects like smart grid, energy saving activities and smart buildings," he said.

Mohd Yusoff added the company sought to fund projects which have the potential to give return on investments of 10 per cent or more.


APAC bio science generated total revenue crossed $173 billion, recorded 12% growth from year 2012 to 2013

Amidst turmoil in many of the Asia-Pacific markets in the past year with general economic slowdown and regulatory and quality issues, the regional bioscience industry had done well in 2013. The 7th annual BioSpectrum Asia-Pacific Bioscience Survey indicates that the industry grew by 12 percent in 2013, compared to 11 percent in 2012. The total revenues crossed $173 billion compared to $154 billion in 2012.

Over 300 publicly listed bioscience companies in the region are the main engines of growth for the APAC industry. Collectively, these companies crossed the $100 billion mark for the first time. Privately held companies, mostly in India and China, accounted for more than 40 percent of the industry's revenue.

Within the region, the performance of various national markets varied wildly. While the industry in China grew by 22 percent in 2013, India's industry recorded an abysmal 3 percent growth only. In terms of growth, Singapore was a big winner with the national bioscience industry on a booster dose with 48 percent growth in 2013. The pharma manufacturers in Singapore had their best year in the past decade, thanks to big orders from the region for many of the locally-made products.

China continued the trend of hosting the largest segment of bioscience industry in the region, followed by India. There are nearly 100 publicly listed bioscience companies in China and their revenue crossed the $50 billion mark for the first time. India's companies are second to China but their combined revenue was just half of that of China, accounting for about $26 billion. In fact, the $25.8 billion revenue of government-controlled, Sinopharm, the No. 1 bioscience company in APAC, is almost equivalent to the combined revenue of all the publicly listed pharma companies in India. The wide gap between the No 1 and No 2 bioscience markets has remained more or less the same for the past five years.