KUALA LUMPUR: Bintai Kinden Corp Bhd, a specialist in mechanical and electrical engineering services has emerged as a substantial shareholder with an equity stake of 5.03% in Malaysian Genomics Resource Centre Bhd (MGRC).

       In a statement yesterday, MGRC said Bintai has acquired 6.25 million shares through its wholly-owned subsidiary Bintai Trading Sdn Bhd on Feb 17.

       “Following the acquisition, Noor Azri Noor Azerai who was redesignated as an executive director of MGRC effective from Feb 16 this year, will oversee the business development, human resources and finance functions of the group.

       “Noor Azri has relinquished his role as deputy chief executive officer of Bintai Kinden after taking up the new role in MGRC, but will remain on the board of Bintai Kinden as an executive director,” it added.

       Noor Azri has turned Bintai Kinden’s earnings into black since the first quarter of financial year 2022 ending March 31.

       MGRC executive director Noor Azri said there are synergies in both companies that can be harnessed as Bintai Kinden diversified into the healthcare sector through the acquisition of Johnson Medical International Sdn Bhd (JMI) in Nov 2021.

       “We see plenty of opportunities that MGRC and Bintai Kinden can jointly enter into and leverage each other’s strengths. We want both MGRC and Bintai Kinden to reap the benefits of working together. As I sit on the board of both companies, we will have better coordination and focus on where both companies can seek opportunities to grow as there is great potential for both,” he added.

       JMI specialises in medical facility development and construction projects where it provides medical engineering solutions such as operating theatres, critical care units and medical gas delivery systems. It is also a trader of medical equipment and supplies.