has entered into a private label, right of use agreement with Eostre Bhd for the latter's procurement of its know-how in genetic screening tests and other products under private label for sale to customers."Eostre is currently operating the business of marketing and direct sales of healthcare products under various brands.
"Eostre is desirous of procuring MGRC’s know-how to research, design, develop and provide genetic screening tests and other products under private label for sale to their customers," said MGRC in a filing with Bursa Malaysia.
The total contract sum amounts to RM7mil with the agreement remaining in force for one year with automatic renewal for another year.
At 12.30pm, shares in MGRC were trading three sen or 2.65% higher at RM1.16 per share on the back of 7.15 million units exchanging hands.