PETALING JAYA: Former Miss World Malaysia Jacqueline Ngu has become a substantial shareholder in Malaysian Genomics Resource Centre Bhd (MGRC) after snapping up seven million shares or a 5.1% stake in the company.
In a filing with Bursa Malaysia today, MGRC said Ngu acquired the stake in the genomics and biopharmaceutical company yesterday. However, the specific purchase price was not disclosed.
Nevertheless, based on MGRC’s closing share price of 45.5 sen on the same day, her stake could be valued at approximately RM3.19 million.
Ngu, from Sarawak, was crowned Miss World Malaysia in 1993 and represented the country at the Miss World 1993 pageant. Her Instagram profile lists her as an “entrepreneur and private investor”.
MGRC chairman Azri Azerai said in a statement today that the company is pleased to have Ngu on board as well as having more individuals with valuable contributions like hers to join the company.
“We are delighted to welcome Datin Sri Jacqueline to MGRC and Rinani Group Bhd and look forward to adding more valued individuals like her to the group.
“With her insight and support, we will seize opportunities that will capitalise the growth of MGRC in the long run,” he said, adding that Ngu has an “underlying passion” in healthcare and sciences.
In an earlier development, Rinani Group acquired a substantial stake in MGRC by purchasing a 5.85% holding two weeks prior to Ngu acquiring her shares.
An MGRC filing on July 18 revealed that Rinani Group subsequently upped its stake to 11.21%.
Private placement
MGRC also recently announced the successful completion of a private placement to raise funds for its expansion plans.
The placement involved issuing seven million ordinary shares at an issue price of 41 sen per share, generating gross proceeds of around RM2.87 million.
These funds will be allocated to the company’s working capital and to offset the estimated expenses related to the private placement.
As part of its expansion strategy, MGRC is considering several initiatives including a potential rebranding from Malaysian Genomics Resource Centre Bhd to Rinani Life Sciences Bhd.
Other plans also include a proposed reduction in its issued share capital, and introduction of a long-term incentive plan that could cover up to 30% of the total issued share capital.
At the close of trade, MGRC’s share price was up 0.5 sen or 1.1% to 46 sen, giving it a market capitalisation of RM59.25 million. - FMT
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