just saw news Bioalpha appointed by Langkawi Development Authority to develop and manage 8-acre agro park in langkawi.. will be ready in 3 years.. new revenue stream for Bioalpha?
maybe potential to be new tourist hot spot in langkawi..

The Edge: Bioalpha appointed to develop agro park in Langkawi

https://theedgemalaysia.com/node/692592

KUALA LUMPUR (Dec 4): Bioalpha Holdings Bhd said that its wholly-owned subsidiary has been appointed by the Langkawi Development Authority (Lada) to develop and operate a 7.98-acre agro park in Bandar Padang Mat Sirat, Langkawi.

“Bioalpha Wellness Sdn Bhd’s scope is to develop the project and upon completion, will undertake the management and operations of the park,” the integrated health supplement group said in a filing on Monday.

As the owner of the land, Lada — an agency under the Ministry of Finance tasked to propel the tourism economy of Langkawi — is granting Bioalpha Wellness rights of land use for 30 years, said Bioalpha.

Bioalpha Wellness, meanwhile, will provide Lada with a yearly fixed fee and quit rent and assessment. The company will also provide an estimated investment of at least RM15 million to be funded by internally generated funds and bank borrowings.

As of December 2022, Bioalpha’s cash balances stood at RM39.8 million.

Bioalpha said development of the agro park will commence immediately, with the opening targeted in three years.

“Bioalpha plans to develop the park showcasing the integrated facility encompassing the full spectrum of the supply chain, from herbal farming, research and development to product processing.

“One of the park’s attractions will be the herbal garden featuring a smart greenhouse with over 300 high-value crop varieties, where visitors can actively participate in planting and harvesting activities,” the company said in a statement, adding that the park is also capable of catering to international meetings, incentives, conferences, and exhibitions (Mice) events related to herbal farming and agriculture.

Shares in Bioalpha closed half a sen or 5.56% lower to 8.5 sen on Monday, giving the group a market capitalisation of RM119.55 million. Year to date, the counter has declined 22.73%.

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The Star: Bioalpha to develop an 8-acre agro park in Langkawi

https://www.thestar.com.my/business/business-news/2023/12/04/bioalpha-to-develop-an-8-acre-agro-park-in-langkawi

KUALA LUMPUR: Bioalpha Holdings Bhd’s wholly-owned subsidiary, Bioalpha Wellness Sdn Bhd has entered into a manage and operate agreement with the Langkawi Development Authority (LADA) to develop, manage, and operate an agro park in Langkawi, Kedah (Langkawi Agro Park).

LADA is an agency under the Ministry of Finance, tasked to propel the tourism economy of Langkawi to advance the island to become a world-renowned tourist destination.

The integrated health supplement company, in a statement, said the proposed park would be built on an 8-acre land situated in a prime location at Padang Matsirat, approximately 1 km away from the Langkawi International Airport.

Under the agreement, LADA as the landowner, shall grant Bioalpha the land use rights for 30 years effective from the signing date. Bioalpha’s scope is to develop the agro park and upon completion, it will undertake the management and operations of the park.

Bioalpha plans to develop the park showcasing the integrated facility encompassing the full spectrum of the supply chain, from herbal farming, and R&D to product processing.

“Development of the park is slated to commence immediately, with the park opening targeted in two years.

“The estimated investment of at least RM15mil by Bioalpha will be funded by internally generated funds and bank borrowings. As at Dec 31, 2022, Bioalpha has robust cash balances of RM39.8mil,” it said.

“We are eager to commence works and expect contributions from the park starting in 2027. With a diverse range of attractions, we are confident that the park will be enthusiastically embraced by the public,” Bioalpha managing director William Hon said.

He said the development enabled the group to broaden its revenue streams from various sources such as admission fees to the park, commercialisation of more than 100 high-value herbal products packaged in Langkawi-inspired branding, in addition to in-park collections from the sale of products, and food and beverages (F&B).

“At the same time, we aim to tap into our agricultural expertise to promote and educate about Malaysia’s high-value herbs to both local and international tourists. Our goal is to create a holistic edutainment experience for visitors, where they can gain greater cultural and learning awareness through the activities,” Hon said.