Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 103

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 103
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 continued innovation and technological expertise.

Employees

As of date of this filing, Chemrex has 21 full-time employees, and MRNA Scientific has 9 full time employees. We believe we have good relations with our employees. The company presently is covered by social security insurance and contributes to the Employee Provident Fund of its employees, a compulsory pension scheme for all Malaysian citizens and permanent residents who are working in Malaysia.

 17Table of Contents

The following table sets out the number of Chemrex's employees, excluding external experts, categorized by functions as of the date of this filing:

  Number of Function Employees Director  5 Sales & Marketing  4 Warehouse  6 Administration & Purchaser  2 Finance  2 Production  2 Total  21 

The following table sets out the number of MRNA Scientific's employees, excluding external experts, categorized by functions as of the date of this filing:

  Number of Function Employees Director  2 Finance  1 Lab Operation  1 Research & Development   1 Marketing & Business Development  3 General & Administration  1 Total  9 

The following table sets out the number of BGLC's employees, excluding external experts, categorized by functions as of the date of this filing:

  Number of Function  Employees Chief Executive Officer  1 Administrative Staffing  1 Total  2 

Currently, we have entered into employment agreements with our officers. We do not have stock options, profit sharing, or similar benefit plans. However, as appropriate after our Initial Public Offering, the Company plans to table at the next Annual Meeting of Shareholders an Equity Compensation Plan that will assist the Company to align the interests of its Key Personnel with the success of the Company, improving employee retention and paving the way for growth in Shareholder value. The Company is currently exploring multiple methods to expand its Executive Team, including advertising and engaging with specialist recruitment agencies to bolster our human capital and business development resources. 

  Insurance

For our Chemrex operations, we maintain third-party liability insurance to cover claims in respect of personal injury or property or environmental damage arising from accidents on our chemical warehouse and office or relating to our operations. Our employees presently are covered by Social Security insurance (SOCSO) and retirement fund (EPF). We do not maintain business interruption insurance or key person insurance. Our insurance coverage is consistent with