PETALING JAYA: Synbion Sdn Bhd, the spin-off company of Umpsa Holdings Sdn Bhd, and Philippines-based United Agarwood Planters Inc (UAP) have inked a memorandum of agreement (MoA) to boost their collaboration in the agarwood industry, using a scientific-based breakthrough product.
Under the MoA signed today at the Second Conference on Rethinking the Future of Sustainability (ReTHINK 2024), Synbion will supply OUDIno – a natural based inoculant for agarwood or gaharu trees to produce high quality agarwood chip grade – with assistance, facilitation and guarantee from Iba Botanicals Inc (IBI), the parent company of UAP.
IBI has proposed to work with Synbion as the exclusive partner for the Philippines.
The move is to ensure that the uptake of the OUDIno technology can be streamlined and strengthened through one point of contact, and supported by IBI’s industry leading position.
UAP focuses on the development of the agarwood industry in the Philippines while IBI, the sole shareholder of UAP, has pioneered the production of high-value botanical extracts for export to global markets since 2018.
The MoA also proposes that OUDIno will continue to be manufactured in Malaysia for now, but both parties will consider additional manufacturing facilities of OUDIno in the Philippines under a licence as the plantations in the Philippines mature and volume escalates.
As part of future collaboration, IBI has requested a quotation for 125,000 units of OUDIno for use on a plantation in the Philippines.
Higher Education Minister Datuk Seri Diraja Dr Zambry Abd Kadir said he was proud to see that the academic based research initiative has evolved into a commercialised export-driven product with direct impact on the gross domestic product of the country.
“I am proud to witness this strategic collaboration between Synbion and UAP. By working closely with various stakeholders, universities can ensure that their research is relevant and that its benefits are widely distributed,” he said in his address at ReTHINK 2024.
Zambry emphasised that universities have a responsibility to ensure that their research contributes to a sustainable future. This involves integrating sustainability into the curriculum, encouraging students to engage in projects that address environmental and social challenges, and fostering a culture of ethical responsibility.
Asean Business Advisory Council Malaysia chairman Tan Sri Mohamed Nazir Abdul Razak in his keynote address said that embracing emerging technologies and fostering a culture of creativity can lead to breakthroughs
that address pressing issues.
He commended Synbion and Umpsa Holdings for successfully developing OUDIno for the agarwood industry.
“For those who do not know, agarwood is the source of oud, one of the most expensive oil extracts in the world and recognised as the king of scents,” said Mohamed Nazir, who is also chairman of Pahang State Economic Advisory Council.
“As we look to the future, the path to sustainability requires vision, commitment and collaboration. It demands that we rethink our approaches, innovate boldly and act decisively. By integrating environmental stewardship, social equity and economic viability into our strategies, we can create a resilient and equitable world for current and future generations,” he added.
Umpsa Holdings Sdn Bhd chairman Datuk Seri Dr Salehuddin Ishak said OUDIno is the result of the university’s commitment in research and development in the agarwood.
“The university has been established as the Agarwood One-Stop Centre as it has produced various high quality and scientific-based breakthrough products from collaboration with local and international parties.
This collaboration with UAP will further enhance our agarwood industry and expand the market of the high-quality agarwood.”
The two-day ReTHINK 2024, themed “Emerging Trends in Smart Agriculture and Plantations” which began yesterday features leading industry and academic experts gathering to discuss issues related to food security, smart agriculture and technological innovation in the agriculture and plantation industry to drive competitiveness and sustainability.
