KUALA LUMPUR: Biosis Group Bhd has entered into a memorandum of understanding (MoU) with YBU Holdings Sdn Bhd to form a joint venture to develop and operate the first medical device refurbishment and innovation park in Perak.
Biosis Group said its wholly owned subsidiary - Biosis Development Sdn Bhd (BDSB) - has agreed to collaborate by using their combined expertise and leveraging on each others’ resources for the development of the park on 45.16 acres in Mukim Pengkalan Aor, Daerah Larut dan Matang.
In a filing with Bursa Malaysia yesterday, the company added that YBU and BDSB would co-own the park as per the equity to be agreed by the parties.
Meanwhile, Chulia Medical Solutions Sdn Bhd, the technical partner for the project, shall be the co-operators of the park and be allowed to have equity participation in the operating companies where applicable and practicable.
YBU is the investment arm of Yayasan Bina Upaya Darul Ridzuan.