B & T Speakers' Series: Malaysian Biotech Industry - Surviving the Global Financial Meltdown
MDV acts not only as a financier for ICT, biotech and other high growth sectors but also aim to strive to achieve to be a development facilitator. For this, amongst our initiatives is to organise a series of knowledge-sharing session via our MDV Business & Technology Speaker Series. These themed events are held bi-annually where MDV would invite the industry and subject matter experts to speak and share their knowledge and experience to our clients. MDV Business & Technology Speaker Series is also a platform for networking and to share common and best practices and the way forward among related industry players.
Our fourth BTSS was held at the Ritz Carlton Hotel on 31st March 2009 with biotech theme in mind, "Malaysian Biotech Industry: Surviving the Global Financial Meltdown". I was very pleased to note that my team had ensured that a right mix of panel members were invited to the event to allow for an interesting and thought-provoking session. Our event was attended by some 100-odd people from various backgrounds in the biotechnology industry. I would like to take this opportunity to thank our esteemed guests who were able to take some hours off from their busy schedule to attend our humble event.
One of our key speakers, Dr. Louis Payet of Frost & Sullivan, stipulated that the global biotechnology revenue is likely to reach USD$271.4 billion by 2011. This is an encouraging growth revenue growth of USD$153.7 billion from 2006. I also note that Dr. Payet had shared with us that there are various factors that would impel the growth for biotechnology sector, for example, the growing demand for alternative means such as genetically modified crops due to limiting situation such as scarcity of water or land. He also said that the current market situation in Malaysia would somewhat limit the growth of biotechnology companies but I do believe that this cuts across all sectors.
On another hand, Dr. M. Rajendran of Holista Biotech proposed for biotech companies to also find opportunities in the agriculture-based technology apart from looking at the healthcare sectors only. His point reverberates well with what I've read where analysts and economists believed that this current economy provides for the best opportunity to re-strategise and rethink company's approach and objectives.
So what do I think?
I think these are exciting times for the biotechnology companies in Malaysia. MDV has since approved loans worth up to RM221 million for 13 biotech companies since last May. RM81 million has since been disbursed. We are now assessing 15 loan applications to the tune of RM300 million. We are committed to be a world-class premier financier to high-sector industries - biotech is one of them. So I would like to reiterate what I said during the BTSS the other day, there is no shortage of funds however, a company must prove that they have the right product and the right project with the right people expertise and right technology to carry it through.
If you think you have these ingredients, feel free to drop by, we would love to have a chat with you.
