Malaysia Governments - Biotechnology Corporation Grant Cardia Bioplastics Bionexus Status

The Board of Cardia Bioplastics Limited is pleased to announce that its 100% subsidiary- Cardia Bioplastics Malaysia SDN BHD has been awarded BIONEXUS status from the Malaysian Biotechnology Corporation SDN BHD, a Malaysia Government body. The BIONEXUS STATUS provides Malaysia Government’s incentives including 10 year tax free status and exemptions to all import duties for qualifying participants. Cardia is honoured to have received this status which is inline with the Board’s strategy of expanding its Research & Development into Malaysia and more in particular- expand its manufacturing base to include both China and Malaysia.

Monday 17 October 2011

BiotechCorp is an agency under the purview of Ministry of Science, Technology and Innovation and is owned by the Minister of Finance Incorporated. BiotechCorp is governed by the Biotechnology Implementation Council and advised by the Biotechnology International Advisory Panel, both chaired by the honourable Prime Minister of Malaysia.

The objective of the establishment of BiotechCorp amongst others is to identify value propositions in both R&D and commerce and support these ventures via financial assistance and developmental services.

Bio Nexus Status

BioNexus Status is a recognition awarded by the Malaysian Government, through BiotechCorp to qualified companies that participate in and undertake value-added biotechnology activities. BioNexus Status companies enjoy a set of incentives contained within the BioNexus Bill of Guarantees ("BOG"). BioNexus Status companies also receive continuous support and assistance from BiotechCorp on immigration related matters, IP advisory and regulatory services and employment related matters.

BiotechCorp also provide a wide range of capacity building programs covering a variety of subject matter to assist biotechnology entrepreneurs in managing their
business locally and internationally.

About Cardia Bioplastics

Cardia Bioplastics Limited (ASX CODE: CNN), through its 100% owned subsidiary Cardia Bioplastics (Australia) Pty Ltd, develops, manufactures and markets sustainable resins and finished products derived from renewable resources for the global packaging and plastic products industries. The Company holds a strong patent portfolio and its growth
are fuelled by the global trend towards sustainable packaging.

Established in Australia in 2002 as Biograde, the company Headquarters and Global Applications Development Centre is in Melbourne, Australia. The Product Development Centre and manufacturing plant is in Nanjing, China. There are Cardia Bioplastics offices in the Americas, Europe,Malaysia and China, and a network of leading distributors across Australia, the Americas,Asia and Europe. Visit www.cardiabioplastics.com

Cardia Bioplastics was the exclusive supplier of biodegradable packaging to the 2008 Beijing Olympic and Paralympic Games, was awarded the Australian Chamber of Commerce "Australia-China Business Excellence Award" in 2008, and won the 2009 "Clean Equity Monaco Conference Award" for Excellence in the field of Environmental Technology Commercialisation. Cardia Bioplastics has also received a recognition plaque from the Malaysian Minister of Energy, Green Technology and Water as recognition for its efforts in the bioplastics industry.