KUALA LUMPUR: Malaysian Genomics Resource Centre Bhd (MGRC) continued its downtrend in early trade Tuesday.

       The genomics and biopharmaceutical company fell 5.49%, or nine sen to RM1.55 at 9.14am. It has fallen about 43% since October 29.

       MGRC was issued an unusual market activity (UMA) query by Bursa Malaysia yesterday as its share price plunged.

       In its reply to the UMA, MGRC said it has appointed Wong Yew Sen as the group’s independent director, as well as the chairman of the audit committee.

       MGRC has also appointed Khoo Boo Bon as its independent director.

       It added that its substantial shareholder Pixelvest Sdn Bhd has acquired 250,000 shares in the group on the open market on Nov 5.

       MGRC said it was otherwise not aware of any corporate development, rumour or reports that may account for the trading activity.