Bintai Kinden emerges as substantial shareholder in MGRC with 5.03% stake

Chief executive officer Hoo See Kheng said the conventional-HL Value Fund generated a distribution yield of 7.03%, HL Asia-Pacific Dividend Fund (6.98%), HL Growth Fund (7.06%) and HL Consumer Products Sector Fund (9.27%).

KUALA LUMPUR: Bintai Kinden Corp Bhd has emerged as a substantial shareholder in Malaysian Genomics Resource Centre Bhd with a 5.03% stake in the company following the acquisition of 6.25 million shares on Thursday.

In a statement, MGRC said Noor Azri Noor Azerai, who relinquished his position as deputy CEO of Bintai Kinden and was redesignated executive director of MGRC, will oversee the business development, human resources and finance functions of the group.