MGRC appoints HLB Ler Lum Chew as new external auditor

KUALA LUMPUR (July 18): Malaysian Genomics Resource Centre Bhd (MGRC) has appointed HLB Ler Lum Chew PLT as its external auditor for the financial year ended June 30, 2022.

This comes after the resignation of Crowe Malaysia PLT last month as the company's auditor, MGRC told Bursa Malaysia on Monday (July 18). On June 30, MGRC said Crowe resigned as its term had exceeded a period of five years.

MGRC, which is expanding downstream to healthcare services and pioneering holistic care, announced last Friday the appointment of former Health Ministry secretary general Chen Chaw Min as its independent non-executive chairman.

For the nine months ended March 31, 2022, the company posted a net profit of RM3.21 million, versus a net loss of RM2.19 million a year ago, mainly due to a higher revenue.

Revenue jumped nearly 12-fold to RM22.03 million from RM1.85 million, amid a successful penetration into the biopharmaceutical services.

Bloomberg data showed that the largest shareholders in MGRC are Phillip Securities Pte Ltd (8.29% stake), Pixelvest Sdn Bhd (7.54%), Bintai Trading (5.19%) and Crest Advisory Bhd (4.62%).

On Monday, MGRC shares ended up one sen or 0.93% at RM1.08, valuing the company at RM134.15 million.