Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 88

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 88
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es would be reviewed at an upcoming Annual Shareholder Meeting of Chemrex to be held on or before June 2025.

During this meeting, the transactions associated with the governance lapses will be reviewed and either ratified or rejected by the Company as the sole shareholder.  As all accounting treatment has been duly disclosed, we do not expect any material negative impact on the financial statements pending the results of the Annual Meeting.

The transactions and notes are highlighted in Item 13, Related Party Transactions.

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Corporate Structure

The corporate structure as of the date of this filing depicted below:

 BioNexus Gene Lab Corp.a Wyoming company              100% owned MRNA Scientific Sdn. Bhd. (formerly known as“BioNexus Gene Lab Sdn. Bhd.”),a Malaysian company   100% ownedChemrex CorporationSdn. Bhd.,a Malaysian company 

Chemical Raw Material Business

Our Products

Chemrex, our wholly owned subsidiary, is involved in the wholesale of chemical raw material products. We purchase raw chemical materials, mostly fibre re-enforced polymers (“FRP”), from domestic and international manufacturers and sell them to manufacturers in Southeast Asia. The FRP and other raw materials we offer are used to produce a wide variety of goods, including handrails, bench tops, automotive and aero parts, cleanroom panels, and covers for various instruments used in manufacturing.

A substantial portion of the Company's revenue comes from the sale of FRP products. FRP products are highly sought after by our customers due to:

 ·The material's lightweight coupled with high strength. The material's ability to be a good electrical insulator with no electro-magnetic behavior and no electric spark.    ·The material's rust-free nature and resistance to acid, alkali, organic dissolvents, and other gas and liquid mixtures.    ·The material's resistance to aging with more than 20 years of useful life under normal working conditions.    ·The material's ease of maintenance.

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Chemical Raw Material Product Examples

Listed below are some examples of FRP chemical raw material products the company sells. In addition, there are both general purpose and more specific use case materials.

 Polyester Resin SHCP 268 SHCP 268 is a thixotropic, quick-curing unsaturated polyester resin suitable as a general-purpose resin. It can be used in generally all FRP products. However, it does not have significant