Regal International collaborates with MIH to develop, commercialise innovations

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Su (front left) and Wong (front,right) of MIH sealed potential collaborations with a hand shake after signing the MOU in Kuching yesterday

Su (front left) and Wong (front,right) of MIH sealed potential collaborations with a hand shake after signing the MOU in Kuching yesterday

KUCHING: Regal International Group’s wholly-owned subsidiary, Regal Lands Sdn Bhd has entered into a Memorandum of Understanding (MOU) with Malaysia Innovation Hub (MIH) a non-profit institution supported by the Ministry of Higher Education in Malaysia yesterday.

Both RL and MIH aim to jointly collaborate in developing and commercialising innovations identified by MIH.

Regal International Group intends to leverage its expertise in real estate development to create conducive environment for research and innovation.

As a dual- listed company on SGX and TWSE, Regal International Group aspire to be the platform for Malaysian researchers and innovators who seek access of international capital market.

Commenting on the collaboration, Dominic Su, Executive Chairman and Chief Executive Officer of Regal International Group Ltd. said: “Our business at Regal is built on constant innovation and an entrepreneurial spirit.

“The Group adopts a two-pronged approach to this MOU. Firstly, the Group will leverage its expertise in real estate development to help create conducive environments for research and innovation, should opportunities arise as results of MIH’s quest for innovative commercialisation.

“Secondly, as a public-listed company, Regal International Group aspire to be the platform for Malaysian researchers and innovators who seek access of the international capital market, especially in Singapore.

“We believe we have much expertise to offer and our partners can see us as a gateway to foster innovation and access to capital markets,” Su added.

MIH’s mission is to integrate all the research teams from the universities and centers of higher education and to partner them with the research teams from the Public Research Institutes (PRI) and to collaborate with international universities and PRIs to create cutting edge innovations, technologies and services and to commercialise them with the vision of creating a better nation and a better world. “MIH seeks partnership that offers real and distinctive value in developing and commercialising innovation.

Regal indeed possesses an impressive track record both as a real estate developer and as a successful enterprise.

We are confident that this partnership will blossom into fruitful outcomes for projects we have identified” Mr Vincent Wong Wai Sang, Chief Executive Officer of MIH remarked.

An initial list of sectors (or Commercialising Industries) has been identified by MIH who are working with numerous universities and research institutes in Malaysia.

These sectors include oil palm industry and agriculture, environment and water, security and data services, health, energy, infocomm technology and communication, and infrastructure. Should specific opportunities arise in relation to the MOU, both the Group and MIH will discuss the transactions in further detail in due course.

The MOU is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending Dec 31, 2016.