PETALING JAYA, June 19 – Malaysian Genomics Resource Centre Berhad (“Malaysian Genomics” or “the Group”), a leading genomics and biopharmaceutical specialist, has reported a revenue of RM0.68 million for the third quarter ended 31 March 2023 (“3Q 2023”). This is a decrease from RM5.08 million recorded in 3Q 2022 as the Group continues its shift towards biopharmaceuticals while maintaining focus on the organic growth of genetic screening services.
During the quarter, the Group experienced a loss before tax (“LBT”) of RM3.24 million, in contrast to a profit before tax (“PBT”) of RM1.96 million in the same period last year. The increased spending on expanding the existing business and preparing for the development of novel biologics and protein design services contributed to the LBT. These endeavors are aimed at entering new market segments and require investments in scientific expertise, research and development, and marketing.
Malaysian Genomics is also preparing for the study of its mesenchymal stem cells for various applications such as osteoarthritis, burns, and stroke treatments, with the goal of obtaining regulatory approval from the Ministry of Health (MOH) for clinically-registered products in the future. This initiative involves additional investments in research and development, scientific expertise, and marketing efforts. For the nine months ended 31 March 2023 (“9M 2023”), the Group reported a revenue of RM6.14 million compared to RM22.03 million in 9M 2022.
The LBT for 9M 2023 was RM3.61 million, while the PBT for 9M 2022 was RM3.21 million. Azri Azerai, Executive Director of Malaysian Genomics, emphasized the importance of building the biopharmaceuticals business for the future growth and sustainability of the Group. He expressed confidence that these efforts will yield positive results in the long term. Additionally, the Group will continue to explore opportunities to expand its genetic screening business, leveraging its extensive experience in the field.
Azerai stated, “We will continue to engage with strategic partners across Southeast Asia, the Middle East North Africa region, and the US to expand our distribution network for fast-moving consumer goods (FMCG) products related to cosmeceuticals, wound healing, and genetic-based fitness programs.” The Group recently partnered with Toticell Limited of Bangladesh to explore the distribution of their cosmeceutical products, genetic screening tests, and cell products to a market of approximately 165 million people. Malaysian Genomics remains committed to enhancing access to cutting-edge precision and personalized healthcare solutions. As of 23 May 2023, Malaysian Genomics’ share price stands at RM0.53 sen, with a market capitalization of RM68.4 million.
