Bursa Malaysia lifts MGRC's affected issuer status

KUALA LUMMPUR: Bursa Securities Malaysia has uplifted Malaysian Genomics Resources Centre Bhd's classification has an affected listed corporation.

In a statement, the group said this follows the stock exchange operator's decision to waive its submission of a regularisation plan after being classified as an affected listed corporation pursuant to Rule 8.03A of the listing requirements.

"I am extremely thankful to the team for working diligently to get Malaysian Genomics out of the affected issuer classification status and welcome this news from the regulator.

"Our diversification into biopharmaceutical services, in particular the distribution of immunotherapy and cell therapies, has supported the financial performance of the Group. I believe that we can grow together, as a team," said MGRC executive director Azri Azerai in a statement.

In a recent announcement on its 3Q22 performance, MGRC reported a profit before tax of RM1.96mil compared with PBT of RM200,000 in 3Q21.

Earnings per share (EPS) stood at 1.6 sen for 3Q22 compared with EPS of 0.19 sen in the corresponding quarter of the previous financial year.