BIOALPHA Holdings Bhd, a pharmaceutical company controlled by the Minister of Finance Incorporated (MoF Inc), is planning for a listing on the ACE Market of Bursa Malaysia.
According to a draft prospectus submitted to the Securities Commission, Bioalpha has interests in manufacturing and sales of semi-finished and finished health supplement products.
Its health supplement products comprise processed herbs, formulated ingredients and functional foods as well as herbal and non-herbal supplements.
MoF Inc has a 51.4 per cent stake in Bioalpha (22.4 per cent held through Khazanah Nasional Bhd), along with William Hon (33.6 per cent) and former Proton Holdings Bhd chief executive officer Datuk Seri Syed Zainal Abidin (one per cent).
Hon is the managing director and chief executive officer of Bioalpha. He was vice-president of business development in Country Heights Holdings Bhd from 2000 to 2005, before he left and founded Bioalpha.
Meanwhile, Syed Zainal has made a comeback in the automotive sector through a 70 per cent stake in CMS Consortium Sdn Bhd, a company promoting the country’s first electric vehicle car-sharing programme through the creation of a network of charging stations nationwide.
The company reported a net profit of RM6.29 million in the financial year ended December 2013, on revenue of RM24.57 million.
Recently, Bioalpha and Angkatan Koperasi Kebangsaan Malaysia Bhd signed a memorandum of understanding to establish a joint-venture company to manage the MyAngkasa Pharmacy network in Malaysia.