Reference is made to the Company’s announcement on 24 December 2019 pertaining to the first announcement pursuant to Rule 8.03A of the Listing Requirements.

The Board of Directors of MGRC wishes to announce that in relation to the Company’s application to Bursa Securities to seek concurrence that MGRC may not be classified as a Cash Company pursuant to Rule 8.03(1) of the Listing Requirements, Bursa Securities had on today notified the Company that MGRC would not be considered as a Cash Company pursuant to Rule 8.03(1) of the Listing Requirements upon completion of the disposal of MGRC’s entire equity interest in MPath Sdn. Bhd. to Gribbles Pathology (Malaysia) Sdn. Bhd. ("Disposal"), after due consideration of all the facts and circumstances as stated in the said application.

However, MGRC is required to make determination as to whether it triggers the Cash Criterion as set out under Rule 8.03(1) of the Listing Requirements upon receipt of the balance consideration of RM4.2 million to be received on the 60th business day after the completion of the Disposal. 

This announcement is dated 26 December 2019.