INS Bioscience Bhd expects the Strategic Alliance Partners (SAPs) programme to be one of its major sources of revenue in the next few years.

“We anticipate that it will contribute at least 25% to the group’s revenue within two years,” chief executive officer Datuk Yeat Sew Chuong told StarBiz.

The new business programme, under unit Easy Pha-max Marketing Sdn Bhd, was launched in May. The SAPs are domestic and foreign herbal healthcare product suppliers.

Starting off with 10 SAPs, the company currently has 60 SAPs.

“This has helped improve the company’s business,” Yeat said, declining to reveal any financial figures.
He said INS Bioscience expected to have up to 200 SAPs by the end of next year given the encouraging response from suppliers.

For the first half of the financial year ending Dec 31, the group recorded a net profit of RM2.04mil on revenue of RM43.59mil, up from RM418,000 and RM28.74mil respectively in the same period last year.

“Despite the sluggish economy, we hope that the second half performance will be as good as the first half year’s with the SAPs being a growth driver,” Yeat said.

He said INS Bioscience would also introduce two new supplement products next month to widen its product range.

He said the company would also benefit indirectly from the 2nd Global Bio-Herbs Economic Forum (GBHEF) to be held at the Putrajaya International Convention Centre from Nov 15 to 17.

Yeat, who is also GBHEF Council founder and chairman, said the forum was expected to accelerate the growth of the bio-herbs industry and create overseas business opportunities for local players.

He pointed out that most of its agents and distributors would attend the forum and they would have the opportunity to expand their business networks through the networking session.

The forum is co-organised by Hewo Sdn Bhd and Hopematic Sdn Bhd, while Easy Pha-max Marketing is the sponsor. This year, GBHEF will include an exhibition that features more than 80 booths to showcase the latest health products from around the world.

To date, over 1,500 participants have confirmed attendance, including those from China, Indonesia, Hong Kong, Thailand, Singapore, Vietnam, the Philippines, the US and South Africa.

“This year’s forum will attract not less than 3,000 participants,” Yeat said, adding that over 3,500 participated in the inaugural GBHEF in Dalian, China, last year.

GBHEF 2008 will feature 25 speakers who are academics, scientists, herbal experts, “herbalpreneurs” and senior Government officers from various countries, including India, China, Japan, Taiwan, Vietnam and the Philippines.