KUALA LUMPUR (Dec 6) : Malaysian Genomics Resources Centre Bhd (MGRC), which emerged as one of the top losers on the local bourse on Monday following a sharp fall in its share price, has been slapped with an unusual market activity (UMA) query by Bursa Malaysia.

The stock hit limit down after falling 30% to close at RM1.67, giving it a market capitalisation of RM207.43 million. It saw 17.34 million shares traded.

In a stock exchange filing, the bourse requested the group to disclose whether there was any corporate development relating to its business and affairs, rumour, report or any other possible explanation to account for the trading activity.

The company would also need to disclose whether it was in compliance with Paragraph 9.03 of the Bursa Securities Listing Requirements.

According to the group’s website, MGRC provides genome sequencing and analysis, and genetic screening services. Founded in 2004, it is has experience in the sequencing and analysis of various human, animal, plant and microbial genomes for customers worldwide.

MGRC fell into the red in its financial year ended June 30, 2021 (FY21) with a net loss of RM4.29 million, from a net profit of RM17.1 million a year ago, mainly because the previous financial year recorded a profit, net of tax, from discontinued operations of RM23.34 million.

Revenue meanwhile came in at RM1.78 million, up from RM951,000 previously, mainly on the derecognition of the progress of genome sequencing and analysis services.