KUALA LUMPUR: Bintai Kinden Corp Bhd has emerged as a substantial shareholder in Malaysian Genomics Resource Centre Bhd with a 5.03% stake in the company following the acquisition of 6.25 million shares on Thursday.

       In a statement, MGRC said Noor Azri Noor Azerai, who relinquished his position as deputy CEO of Bintai Kinden and was redesignated executive director of MGRC, will oversee the business development, human resources and finance functions of the group.

       Azri will remain on the board of Bintai Kinden as an executive director.

       "There are synergies in both companies that we intend to harness as Bintai Kinden diversified into the healthcare sector through the acquisition of Johnson Medical International Sdn Bhd (JMI) in November 2021.

       "We see plenty of opportunities that MGRC and Bintai Kinden can jointly enter into and leverage each other's strengths," said Azri.

       "We want both MGRC and Bintai Kinden to reap the benefits of working together. As I sit on the Boards 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.