Bioalpha's expects zero-rated GST to boost product sales

KUALA LUMPUR, June 5 (Bernama) -- Bioalpha Holdings Bhd, a manufacturer of health supplements, expects the zero-rating of Goods and Services Tax (GST), effective June 1, to further boost the domestic demand for its products.

Managing Director William Hon said the domestic market was the company's main growth driver in 2017, with manufacturing and retail pharmacy divisions reporting higher sales.

"We expect this trend to continue in 2018, on the back of increased demand for original design manufacturing products from existing and new customers," he said in a statement today.

In addition, Hon said, Bioalpha would launch several new products in Malaysia, Indonesia and China this year to spur interest and keep the markets excited.

Regarding expansion plans, he said the company was positioning itself to cater for any incoming major orders from existing and new customers.

Land clearing and planting activities are underway at both herbal parks in Pasir Raja, Terengganu, and Desaru respectively.

"We expect to harvest 2,000 tonnes of fresh raw herbs from both herbal parks by 2020. This year, we plan to start harvesting coconuts with 3,000 trees already planted in Desaru Herbal Park.

"We are also adding high-demand crops such as Musang King durian at our Pasir Raja Herbal Park," he said.

-- BERNAMA