MGRC – 0155 >>> Benefit from current high Omicron Covid cases nationwide - MGRC – 0155 >>> Benefit from current high Omicron Covid cases nationwide

Vaccines and Outbreaks

MGRC – 0155 >>> Benefit from current high Omicron Covid cases nationwide - MGRC – 0155 >>> Benefit from current high Omicron Covid cases nationwide

By FYH News Team

Published on February 15, 2022

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In Oct 2020, Malaysian Genomics Resource Centre Bhd (“MGRC”) developed new component for Dtect Immune Health in reaction to SARS-CoV-2 virus which causes Covid-19. In July 2021, there were rumours about concerns of not getting “real” Covid vaccination and arguments between the effectiveness of different vaccine brands. These concerns and arguments have posted demand of MGRC’s Dtech Immune Health report for people to detect their level of immunity against Covid-19 and the need for booster jab by that period. At that moment, we can see share price trending up strongly from 79 sen to a high of RM1.51 in Jul 2021.

>>> https://www.nst.com.my/lifestyle/heal/2020/10/631223/screen-risks-poor-immune-response

In Aug 2021, MGRC teamed up with Pharmaniaga Group on the distribution and administration of Covid-19 vaccines to the private sectors. Malaysian Genomics worked with companies such as HealthMetrics Sdn Bhd, a third-party administrator, and other partners on the vaccination of private-sector employees. In 2H2021, we see long queues in private Sinovac vaccination centre and provision of Sinovac vaccines within the private sector. As government does not provide much Sinovac vaccine in the beginning of 2022, we believe the demand remain elevated as some who had Sinovac in 1^st and 2^nd jap believe not to mix with other brand of vaccine and pay for Sinovac jap in the private sector for their booster dose.

Source: MGRC’s Unaudited 1QFY22 Quarter Report

Since then, we start to its earnings turned black in 1QFY22 (Sept 2021 – Nov 2021), contributed by distribution of Covid-19 vaccine. Share price has also been surging strongly to hit its historical high price of RM2.71.

>>> https://www.malaysiakini.com/announcement/586113

Source: https://covidnow.moh.gov.my/

With recent hike in Omicron cases in Malaysia, we believe MGRC sales should remain strong in the near future. You may take note that they should be announcing quarter result in Feb 2022, this month.

The global genetic screening market size is anticipated to have a 12.5% annual growth rate to 2027 and is set to surpass USD31.8 billion that year. People starts to be more health conscious and this bodes well for MGRC who provide DNA test as well as Chimeric Antigen Receptor Tcell immunotherapy (a way to get immune cells called T cells (a type of white blood cell) to fight cancer by changing them in the lab so they can find and destroy cancer cells).

With the emergence of new substantial shareholders and board of directors, who knows maybe there could be a turnaround in its earnings?

Moving forward, MGRC is focusing on their marketing effort to cross sell their products and boost their sales in its DNA test and Stemcell. There could also be some collaboration initiatives in the pipeline.

Technical Analysis

Triangle breakout
upticks in RSI
bullish signal in MACD
Uptrend since January

Closed above its key resistance level (RM1.17-1.18) yesterday
Closed above both SMA20 & SMA50

Buy signal from Parabolic indicator signalling potential reversal of short term pullback

Support levels – 1.13 (S1), 0.98 (S2)

Resistance levels – 1.52 (R1), 2.00(R2)

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