PETALING JAYA: Bintai Kinden Corp Bhd has emerged as a substantial shareholder in Malaysian Genomics Resource Centre Bhd (MGRC) with an effective stake of 5.03% following an acquisition of 6.25 million shares via its wholly-owned subsidiary, Bintai Trading Sdn Bhd.
Following the acquisition, Bintai Kinden’s deputy CEO, Noor Azri Noor Azerai (pix), has relinquished his role to take up the executive director post in MGRC. However, he will remain on the board of Bintai Kinden as an executive director.
Azri joined Bintan Kinden’s board in July 2021 as executive director and was subsequently redesignated as deputy CEO. He had successfully returned Bintai Kinden’s earnings back to black since Q1’22.
On the move to MRGC, he commented that there are synergies in both companies as Bintai Kinden had diversified into the healthcare sector through the acquisition of Johnson Medical International Sdn Bhd in November 2021.
Johnson Medical specialise in medical facility development & construction projects such as operating theatres, critical care units and medical gas delivery systems as well as the trading of medical equipment and supplies
“We see plenty of opportunities that MGRC and Bintai Kinden can jointly enter into and leverage each other’s strengths. 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,” he said in a statement today.
