Malaysian Genomics Resource Centre Berhad Gets Affected Issuer Status Uplifted

About this update from Malaysian Genomics Resource Centre Bhd.

* Bursa Securities waives need for Group to submit regularisation planPETALING JAYA, Malaysia -- Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, is pleased to announce that it is uplifted from being classified as an affected listed corporation effective 13 June 2022. This followed the decision by Bursa Securities Malaysia Berhad to grant the Group a waiver in submitting a regularisation plan after being classified as an affected listed corporation pursuant to Rule 8.03A of the Listing Requirements. Bursa Securities had made the classification according to Rule 8.03A on 24 December 2019 and Malaysian Genomics had submitted an application seeking approval to exempt the Group from submitting a proposed regularisation plan on 24 March 2022. The waiver was granted on 10 June 2022. Encik Azri Azerai, Executive Director of Malaysian Genomics, said, "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 future." Dato' Alvin Nesakumar, Executive Director of MGRC, said, "As we have shared before, we are also moving towards offering our products and services through adopting a business-to-consumer strategy to complement our business-to-business approach because trends are changing and technology enables us to reach out directly to consumers. This new approach will give us better insight into what the market .(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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