English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 17 February 2022, 14:00 HKT/SGT
Share:
    

Source: Malaysian Genomics Resource Centre Berhad
Bintai Kinden Corporation Berhad Emerges as Substantial Shareholder in Malaysian Genomics Resource Centre Berhad
- Bintai Kinden acquires 5.03% stake in MGRC
- Newly redesignated Executive Director, Azri Azerai, to spearhead both companies' growth strategies

PETALING JAYA, Malaysia, Feb 17, 2022 - (ACN Newswire) - Malaysian Genomics Resource Centre Berhad ("MGRC" or "the Group"), a leading genomics and biopharmaceutical specialist, is pleased to announce the entry of a new substantial shareholder, Bintai Kinden Corporation Berhad ("Bintai Kinden"), a specialist in mechanical and electrical engineering services to the construction sector, in the Group.

Azri Azerai, Executive Director of MGRC

Bintai Kinden now has an effective shareholding of 5.03% stake in MGRC, following the acquisition of 6.25 million shares by Bintai Trading Sdn. Bhd., a wholly-owned subsidiary of Bintai Kinden, on 17 February 2022.

Following the acquisition, Encik Noor Azri bin Dato' Sri Noor Azerai ("Azri Azerai"), who was redesignated as an Executive Director of MGRC effective from 16 February 2022, will oversee the business development, human resources and finance functions of the Group. Azri Azerai has relinquished his role as Deputy Chief Executive Officer ("CEO") of Bintai Kinden after taking up the new role in MGRC, but will remain on the Board of Bintai Kinden as an Executive Director.

Azri Azerai, who was appointed to Bintai Kinden's Board in July 2021 as an Executive Director, and subsequently redesignated as the Deputy CEO, has successfully turned Bintai Kinden's earnings black since the first quarter of FY2022.

Speaking on his new role in MGRC, Azri Azerai said, "There are synergies in both companies that we intend to harness as Bintai Kinden diversified into the healthcare sector through the acquisition of Johnson Medical International Sdn. Bhd. ("JMI") in November 2021. We see plenty of opportunities that MGRC and Bintai Kinden can jointly enter into and leverage each other's strengths."

JMI specialises in medical facility development and construction projects where it provides medical engineering solutions such as operating theatres, critical care units and medical gas delivery systems. JMI is also a trader of medical equipment and supplies.

"We want both MGRC and Bintai Kinden to reap the benefits of working together. As I sit on the Boards of both companies, we will have better coordination and focus on where both companies can seek opportunities to grow as there is great potential for both."

Topic: Press release summary
Source: Malaysian Genomics Resource Centre Berhad

Sectors: Daily News, BioTech, Healthcare & Pharm, Local Biz
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Malaysian Genomics Resource Centre Berhad Releated News
June 23, 2022 14:30 HKT/SGT
Malaysian Genomics Resource Centre to Offer Pioneering Holistic Renal Care via New Venture
June 13, 2022 12:00 HKT/SGT
Malaysian Genomics Resource Centre Berhad Gets Affected Issuer Status Uplifted
May 23, 2022 21:00 HKT/SGT
Malaysian Genomics Resource Centre Berhad Posts 212% Increase in Revenue for 3Q FY2022
Apr 28, 2022 11:30 HKT/SGT
Malaysian Genomics Resource Centre Berhad Supports Yayasan Seri Negara's Ramadhan Initiative
Apr 6, 2022 13:00 HKT/SGT
Personalised Health Supplements Customised from Genetic Screening Results Offered on airasia Super App
More news >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575