Malaysian Genomics Sees Rise in Profit Margins for 1Q ACN Newswire

Malaysian Genomics Sees Rise in Profit Margins for 1Q

23 11 月, 2022
PETALING JAYA, Malaysia, Nov 23, 2022 - (ACN Newswire via SEAPRWire.com) - Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today reported a revenue of RM3.81 million for the first quarter ended 30 September 2022 (1Q 2023) versus a revenue of RM9.32 million in 1Q 2022, as the Group refocuses on immunotherapy and cell therapies under the biopharmaceutical business and pushes for organic growth of its genetic screening business.Independent Non-Executive Chairman, Dato' Seri Dr Chen Chaw MinThe Group recorded a 254.16% increase in profit before tax (PBT) to RM0.85 million for 1Q 2023, compared with RM0.24 million in the corresponding quarter of the previous financial year, on higher profit margins and revenue contributions from the new biopharmaceutical business.Earnings per share for 1Q 2023 stood at 0.68 sen compared with 0.20 sen in 1Q 2022.Dato' Seri Dr Chen Chaw Min, Independent Non-Executive Chairman of Malaysian Genomics said, "The Group's pivot to immunotherapy and cell therapies from vaccine distribution continues to pay off as PBT improves on higher profit margins. We expect more improvements to the biopharmaceutical business as the Group's expansion of its distribution network and footprint overseas in the Middle East and Southeast Asia takes shape.""We are pushing the genetic screening business as the Group continues to reach out through business-to-consumer channels for a wider market reach. We believe better awareness and education is prompting more people to take action on how they can enhance their health, and the Group will leverage on this through catering to the different needs and groups from our suite of healthcare-related solutions. We are also seeking to acquire assets or invest in businesses that will support the expanded market reach of our products and services.""The Group is well positioned to be a leading provider of genetic screening, genome analysis, and biopharmaceutical products in Southeast Asia, as we are equipped with a high-throughput sequencing lab, an advanced microarray facility, and a new state-of-the-art cGMP cell processing lab for cell therapies, including immunotherapy for various types of cancers. We are confident that we are in a position to provide patients with better access to the latest precision and personalised healthcare solutions."Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Malaysian Genomics Reports RM28.36 Million Full-Year Revenue ACN Newswire

Malaysian Genomics Reports RM28.36 Million Full-Year Revenue

30 8 月, 2022
PETALING JAYA, Malaysia, Aug 30, 2022 - (ACN Newswire via SEAPRWire.com) - Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, reported revenue of RM6.33 million for the fourth quarter ended 30 June 2022 (4Q 2022) compared with the loss of RM0.07 million in the corresponding quarter of the previous financial year (4Q 2021) on higher contribution from the biopharmaceutical business and continued organic growth of the genetic testing business.Sasha Nordin, Chief Executive Officer of Malaysian GenomicsThe Group recorded a profit before tax (PBT) of RM2.97 million for the quarter under review compared with a loss before tax (LBT) of RM2.11 million in 4Q 2021 due to higher profit margin from the biopharmaceutical business as well as efficient cost monitoring.For the financial year ended 30 June 2022 (FY2022), Malaysian Genomics registered revenue of RM28.36 million, which is an increase of RM26.58 million compared with RM1.78 million reported in the corresponding period of the previous financial year (FY2021) from growth of the biopharmaceutical business comprising of immunotherapy and cell therapies as well as COVID-19-related products and services.The Group recorded PBT of RM6.18 million for FY2022 compared with LBT of RM4.29 million in FY2021 mainly due to higher revenue as a result of higher margin as well as cost efficiencies.Earnings per share for 4Q 2022 stood at 3.25 sen compared with the loss per share of 1.94 sen in the corresponding quarter of the previous financial year.En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics said, "We continue to see improvement in the Group's financial performance, and this is attributable to the introduction of biopharmaceutical services as well as our aggressive push to market genetic testing services. Towards the tail-end of the quarter under review, we acquired a 51% stake in kidney dialysis operator Aquahealth Sdn Bhd in which we intend to introduce a holistic approach to kidney healthcare through our suite of products and services. We also have plans to open more such centres across Malaysia given the projected increase in the number of kidney patients.""We are also expanding in Southeast Asia and the Middle East with a series of agreements that we recently inked in which we collaborate with local partners to promote, market and distribute our biopharmaceutical and genetic testing services."About Malaysian Genomics Resource Centre BerhadMalaysian Genomics Resource Centre Berhad ("Malaysian Genomics" or "the Group") is a leading genomics and biopharmaceutical company based in Southeast Asia. The Group was established in 2004 and listed on the Bursa Malaysia stock exchange in 2010. From pioneering work in genome sequencing, bioinformatics analysis, and genetic screening services, Malaysian Genomics has expanded into the biopharmaceutical sector with the manufacturing of cell therapies including immunotherapy for various types of cancer.Utilising its high-throughput sequencing lab, advanced microarray facility, and new state-of-the-art cell processing lab, the Group is committed to improving access to the latest in precision and personalised healthcare solutions to improve the lives of patients. For more information, visit www.mgrc.com.my. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Malaysian Genomics Signs MoU with Ajlan to explore distribution of biopharmaceutical and genetic screening services in MENA region ACN Newswire

Malaysian Genomics Signs MoU with Ajlan to explore distribution of biopharmaceutical and genetic screening services in MENA region

29 8 月, 2022
PETALING JAYA, Malaysia, Aug 29, 2022 - (ACN Newswire via SEAPRWire.com) - Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced that the Group has signed a Memorandum of Understanding (MoU) to explore opportunities for the distribution of biopharmaceutical and genomics products and services with Ajlan & Bros Medical Company.Noor Azri Bin Dato' Sri Noor Azerai, Executive Director of Malaysian Genomics, and H.E. Eng. Ali AlHazmi, Group Chief Executive Officer of Ajlan & Bros Holding Group [L-R]Ajlan, based in Riyadh, Saudi Arabia, is part of a multinational conglomerate established in 1979 with extensive global private equity, real estate and industrial investments.As part of the MoU, the parties will explore the feasibility of Ajlan becoming a marketing and distribution representative for Malaysian Genomics for genetic screening tests, mesenchymal stem cell and exosome products. Ajlan will also identify commercial research and development (R&D) opportunities for genome sequencing and analysis in the Middle East and North Africa (MENA) region for areas such as agriculture, aquaculture, plantations, healthcare and industrial biotechnology.Malaysian Genomics on its part will analyse samples for genetic screening tests as well as provide Ajlan with genomic and bioinformatics expertise to bid for projects through Ajlan.Noor Azri Bin Dato' Sri Noor Azerai, Executive Director of Malaysian Genomics, said, "This is a really good opportunity for us to explore the MENA market for our products and services, especially in the area of R&D where we see a lot of growth especially in agriculture and aquaculture due to climate change impact and the health diagnosis for distinct population groups."H.E. Eng. Ali AlHazmi, Group Chief Executive Officer of Ajlan & Bros Holding Group, said, "We look forward to working with Malaysian Genomics to bring its biopharmaceutical and genetic services and products to Saudi Arabia, which is a good launchpad to the MENA region. This MoU is just the beginning as we explore how we can work closely together in the coming months."About Malaysian Genomics Resource Centre BerhadMalaysian Genomics Resource Centre Berhad ("Malaysian Genomics" or "the Group") is a leading genomics and biopharmaceutical company based in Southeast Asia. The Group was established in 2004 and listed on the Bursa Malaysia stock exchange in 2010. From pioneering work in genome sequencing, bioinformatics analysis, and genetic screening services, Malaysian Genomics has expanded into the biopharmaceutical sector with the manufacturing of cell therapies including immunotherapy for various types of cancer.Utilising its high-throughput sequencing lab, advanced microarray facility, and new state-of-the-art cell processing lab, the Group is committed to improving access to the latest in precision and personalised healthcare solutions to improve the lives of patients. For more information, visit www.mgrc.com.my. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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