AUDIT REPORT The Finance Ministry pumped RM93 million into a bio-technology company that had losses of RM78 million over just three years, from 2010 to 2012.

The latest series of the Auditor-General’s Report 2013 says Inno Biologics Sdn Bhd (IBL), a company parked under the Science, Technology and Innovation Ministry, is a government tryst to manufacture pharmaceutical products based on mammalian cells.