Bioalpha, PUC Founder terminate land-sharing MoU

KUALA LUMPUR: Bioalpha Holdings Bhd and PUC Founder (MSC) Bhd have aborted their proposed collaboration involving the sharing of land to undertake their respective businesses - herb planting activities for Bioalpha and solar photovoltaic plant operations for PUC Founder.

Bioalpha, which makes health supplement products, told Bursa Malaysia the memorandum of understanding (MOU) entered into between the two parties in relation to the land rights sharing was “no longer commercially viable” subsequent to the feasibility study conducted.

The MoU, signed in August last year, had a one-year effective period. The aim was to fully utilise the limited land resources and create full economic value for PUC Founder and Bioalpha.