Biotech queen Kiran Majumdar Shaw-led Biocon Ltd has offered to buy the central utilities facility (CUF) and an eight-acre parcel owned by Malaysian Bio-XCell Sdn Bhd (Bio-XCell) for RM25 million.

 

The sale was done via receiver and manager (R&M) AdamPrimus Chartered Accountants, which was appointed by Maybank Islamic Bhd in March, after Bio-XCell became insolvent in February 2019.

 

The talks in the Malaysian industrial circle indicate that if this sale goes through, Biocon will own the CUF in Bio-XCell Biotechnology Park in Johor. The CUF provides industrial steam, chilled water and a centralised wastewater management system for the park’s tenants.

The talks in the Malaysian industrial circle indicate that if this sale goes through, Biocon will own the CUF in Bio-XCell Biotechnology Park in Johor.