JOHOR BAHRU: The Ministry of Science, Technology and Innovation (MOSTI) is ready to channel funds Asia Plantation Capital Bhd (APC), which plants and produces agarwood, to finance research and development on the benefits of agarwood for cancer treatment.
Its deputy minister, Datuk Dr Abu Bakar Mohamad Diah said this was in line with the goals of the ministry, which targets 360 high-impact innovation products to be commercialised by 2020.
“The APC management says agarwood may be one of the cures for cancer
“So I wish to inform, MOSTI can finance R&D on the anti-cancer programme through our TechnoFund up to RM3 million,” he said.
He told reporters this after opening APC’s distillery and research centre at the Masai Industrial Park, Bandar Seri Alam, recently.
Meanwhile, APC Asia Pacific chief executive officer Steve Watts said the company had invested US$30 million (RM121 million) to develop the factory and R & D centre with total floor space of 44,000 square metres. — Bernama
Source: The Sun Daily News