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New Straits Times
15-05-2025
- Business
- New Straits Times
Malaysia, Japan seal RM1.34bil deals at Expo 2025 Osaka
KUALA LUMPUR: Malaysia and Japan have signed three strategic agreements valued at RM1.34 billion during Expo 2025 Osaka. A standout deal involves a joint venture between reNIKOLA Holdings Sdn Bhd and Japan's Sumitomo Corporation to develop renewable fuels. The collaboration will utilise palm oil production residues to produce biomethane and low-carbon derivatives such as liquefied biomethane and biomethanol. The second deal involved MTC Orec Sdn Bhd, a bioenergy firm under the Bio-based Accelerator (BBA) programme, partnering with Japan's IHI Plant Services Corporation to advance biogas technology development in Southeast Asia. In the third agreement, Glyken Bio Products Sdn Bhd, a BioNexus Status company, signed a Memorandum of Agreement and supply contract with Japan's Respect Co., Ltd. to distribute its bird's nest glycopeptide-based products in the Japanese market. Held on 12 May at the Malaysia Pavilion during the launch of MOSTI Week, the event marked a key milestone in strengthening Malaysia-Japan collaboration to promote a low-carbon and bio-based economy, in line with global sustainability goals. The initiative was led by the Malaysian Bioeconomy Development Corporation, an agency under the Ministry of Science, Technology and Innovation (MOSTI). Bioeconomy Corporation said the collaborations involve the development of renewable energy and the commercialisation of sustainable biotechnology products, aligning with the aspirations of the National Biotechnology Policy 2.0 and global sustainability goals. Its chief executive officer, Mohd Khairul Fidzal Abdul Razak, stated that choosing Japan as Malaysia's strategic partner in innovation and technology highlights the importance of international collaboration in driving green economic growth and tackling global climate issues. "Malaysia is proud to showcase the nation's bioeconomy potential to the global market through strategic collaborations such as this. "While leveraging Japan's expertise in green innovation, BioNexus Status companies and those under the Bio-based Accelerator (BBA) programme are well positioned to drive transformation in renewable energy, sustainable agriculture, and bio-based products," he said. Mohd Khairul said this collaboration not only creates economic benefits but also plays a significant role in promoting a more sustainable, low-carbon future on both regional and global scales.
The Star
15-05-2025
- Business
- The Star
Malaysia, Japan ink RM1.34bil green bioeconomy deals at Expo 2025 Osaka
Bioeconomy Corp chief executive officer Mohd Khairul Fidzal Abdul Razak KUALA LUMPUR: Malaysia and Japan reached a new milestone in their green bioeconomy partnership with the signing of three strategic agreements worth RM1.34 billion on May 12 at Expo 2025 Osaka in Japan. In a statement today, Malaysian Bioeconomy Development Corporation (Bioeconomy Corp) an agency of the Ministry of Science, Technology and Innovation (MOSTI) said the signing is in conjunction with launch of the MOSTI Week which is a step forward by both nations to drive the low-carbon and bio-based economy agenda, in line with global sustainability commitments. "The collaborations involve the development of renewable energy and the commercialisation of sustainable biotechnology products, aligning with the aspirations of the National Biotechnology Policy 2.0 and global sustainability goals," it said. Bioeconomy Corp chief executive officer Mohd Khairul Fidzal Abdul Razak said Japan's selection as Malaysia's strategic partner in innovation and technology reflects the strength of global cooperation to advance green economic growth and address global climate challenges. "Malaysia is proud to showcase the nation's bioeconomy potential to the global market through strategic collaborations such as this. "While leveraging Japan's expertise in green innovation, BioNexus status companies and those under the Bio-based Accelerator (BBA) programme are well positioned to drive transformation in renewable energy, sustainable agriculture, and biobased products," he said. The first agreement involved renewable energy company reNIKOLA Holdings Sdn Bhd and Japan's Sumitomo Corporation to explore a joint venture in developing renewable fuels. In the second agreement, Malaysia's bioenergy company MTC Orec Sdn Bhd and IHI Plant Services Corporation entered into a collaboration for the development of biogas technology in Southeast Asia. In the third case, BioNexus status company Glyken Bio Products Sdn Bhd signed a memorandum of agreement and supply contract with Japan's Respect Co Ltd for the distribution of its bird's nest glycopeptide-based products in the Japanese market. Mohd Khairul Fidzal said the collaborations also reflect the alignment between Malaysia's commitment to sustainable innovation and the theme of the expo, 'Designing Future Society for Our Lives'. "It's not just about accelerating market access and technology transfer, but also about creating opportunities for the joint development of solutions to address climate change, energy security and economic resilience," he said. - Bernama
