BiotechCorp Annual Report 2007 - Malaysian Biotechnology ...

(Company No.691431-D)
9. Deferred income
Non-current
A) Developmental Grants
2007 2006
RM RM
At 1 January 19,700,913 -
Received during the year:
IP Research and Management Program 11,326,000 953,000
Biotechnology Acquisition Grant 51,449,000 8,870,000
Biotechnology Commercialisation Grant 22,815,000 7,982,000
Biotechnology Entrepreneur Program 13,843,000 2,195,000
Biotechnology Entrepreneurship Training
Programme (“BeST”) 8,822,000 -
127,955,913 20,000,000
Add: Interest income from placement of deposits 702,531 144,809
128,658,444 20,144,809
Less: Commercialisation grants awarded (3,500,000) -
125,158,444 20,144,809
Less: Amortisation to Income Statement (Note 12) (6,763,312) (443,896)
At 31 December 118,395,132 19,700,913
B) Non-developmental Grants
Received during the year: 38,500,000 -
Less: Amortisation to Income Statement (Note 12) (29,898,431) -
At 31 December 8,601,569 -
Total deferred income 126,996,701 19,700,913
The Company was awarded the above government grants for the following purposes:
A) Developmental Grants
Intellectual Property Research and Management Program comprises a series of programs that are targeted to enhance the
efficiency and effectiveness of intellectual property management and protection in Malaysia.
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