KUALA LUMPUR - May 5th, 2010 -- General Electric (NYSE: GE) in Malaysia and Bio-XCell Malaysia Sdn. Bhd.
signed the memorandum of collaboration at the international launch of Bio-XCell in Chicago yesterday. The
signing, held in conjunction with BioChicago, reflects the agreement for GE and Bio-XCell to collaborate in
developing infrastructure solutions at the Southern Industrial & Logistics Cluster (SiLC) in Nusajaya.
''To build world-class ASEAN companies, you have to form world-class partnerships,'' says Stuart Dean,
President & CEO, GE ASEAN. ''We're very proud of our partnership with Bio-XCell and I believe together, we will
be able to position Bio-XCell as a premier Biotechnology Park in Malaysia and in the ASEAN region.''
Part of the Malaysian government's development plan for the State of Johor in Malaysia known as Iskandar
Development Region (IDR), the Bio-XCell project entails the development of a 72.53-acre biotech ecosystem in
IDR. The biotech ecosystem will be developed in 3 phases over a span of 6 years, to provide an estimated 1.125
million square feet of dedicated, purpose-built space and facilities for biotech companies.
In 2009, GE Security worked with UEM to supply security solutions to Nusajaya. GE's other partnerships in
Malaysia include joint ventures with Malaysia Airlines and Air Asia to repair and overhaul aircraft engines
throughout Asia.
GE Oil & Gas and SAPURACREST, Malaysia's leading oil & gas service provider, also partnered to further expand
and enhance its service centre for the region's growing oil & gas industry. In the energy business, GE Energy
collaborated with East Malaysia's largest independent power plant, Ranhill Powertron II in developing cleaner
and more efficient power generation.
GE Capital, the finance arm of GE, recently listed their five year, $US500 million denominated 'sukuk' issuance
on Bursa Malaysia, further diversifying the Malaysian market. GE Capital is the first US corporate sukuk issuer
to be listed on Bursa Malaysia under the exempt regime.
GE's Healthcare division supplies private and public hospitals with the latest diagnostic imaging equipment and
healthcare information systems, while the company's lighting division supports key stadiums and ports.
'' We're excited at the opportunity to work closely with Bio-XCell where we're able to provide them with a range
of solutions for their Central Utility Facility and to help Bio-XCell meet complex challenges related to
water availability, quality, productivity, cost reductions and meeting environment regulations,'' says Megat
Shahrul Azmir, Regional Marketing Leader (Asia Pacific) of GE Water & Process technologies. ''I am also looking
forward to gathering up our world-class partners to further provide total solutions for this project.'' he adds.
Last year, GE in Malaysia recorded solid performance with 11% YTY revenue growth despite the challenging
global and regional economic environment with revenues of USD567 million.
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About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest
challenges. From aircraft engines and power generation to financial services, health care solutions, and
television programming, GE operates in more than 100 countries and employs about 300,000 people
worldwide. For more information, visit the company's Web site at www.ge.com.
Tracy Moey