Innovax Sdn Bhd, Chemical Company of Malaysia Berhad (CCM)’s research and development arm inked a strategic partnership with the Malaysian Palm Oil Board (MPOB) to jointly promote R&D and commercialisation of oil palm phenolics–based products in the cosmetic, healthcare and wellness industries.

Phenolics are water-soluble phytonutrients derived from palm oil by-products. They have antioxidants effect that protects the body from oxidation or free radical damage, which then will help to improve some cardiovascular diseases and certain stage of cancers.

Under the terms of the MOU, MPOB will use its cutting edge chromatography technology to purify crude palm oil to extract phenolics, which will be incorporated into high value added end products for commercialization that will be developed by Innovax.

CCM Berhad Group Managing Director, Dato’ Dr Mohd Hashim Tajudin said the MOU would enable both parties to cooperate and contribute their respective expertise and resources to strengthen R&D initiatives and spearhead technological breakthroughs in the pharmaceutical industry.

“Malaysia is one of the world’s largest producers of palm oil which is constantly being developed for an increasing number of uses. There is also focus on the manufacturing of non-traditional palm oil-based by-products such as oil palm phenolics-based products.

“Over the years, research on oil palm phenolics has increased rapidly in light of the growing evidence of the health advantages attributed to their antioxidant properties,” said Dato’ Dr Mohd Hashim.

He added that people now have a greater awareness of health issues and are more concern about their health and the cost of medical care. “The advancement in the healthcare industry has improved the progress in areas like nutraceuticals and phytonutrients that hold great promise in promoting wellness, thus help to reduce the health care cost in the longer term.

Innovax, CCM’s wholly-owned R&D company, is actively engaged in carrying out research and development in pharmaceutical industry particularly in nutraceutical and herbal product formulation.

CCM, is listed on the main board of Bursa Malaysia and has a market capitalisation of RM1 billion. CCM is a key player in the fertilisers, chemicals and pharmaceuticals industries.

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Issued with the compliments of Chemical Company of Malaysia Berhad
Through Eric Pringle Associates Public Relations Sdn Bhd.
For further information, please contact Ida Fazila Ismail
at 03-2161 7144/49/54 or e-mail at ifazila@epapr.com.my