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

By Yimie Yong

May 18, 2020

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.

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