Khazanah ceases to be major shareholder in ACE-market listed MGRC

Malaysian sovereign wealth fund Khazanah Nasional Bhd has ceased to be a substantial shareholder in ACE market-listed genetics screening company Malaysian Genomics Resource Centre Bhd (MGRC) after a recent share sale.

The development comes after Khazanah sold 12 million shares or 11.59% stake through its indirect subsidiary Synamatix Sdn Bhd, according to a bourse filing last Friday.

The disposal on May 13 came after an earlier disposal of 17 million shares on April 27. Khazanah indirectly owned 12.758% stake or 13.21 million shares in MGRC as of April 29 after the disposal, a separate filing showed.

Khazanah has been trimming its interests in the company since the end of February, according to several filings on the bourse.

MGRC has completed the disposal of its clinical pathology services business MPath Sdn Bhd to Gribbles Pathology (M) Sdn Bhd for RM42 million cash in December last year.

Founded in 2004, MGRC provides genome sequencing and analysis, and genetic screening services. The company was listed on Malaysia’s ACE Market in October 2010.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.