Genotec Sdn Bhd entered into a term sheet for the placement of common shares on November 8, 2023. The transaction will include participation from new investor, Malaysian Genomics Resource Centre Berhad. The company has received MYR 3,500,000, which may be subsequently used to off-set the subscription payment of the new shares.

The transaction is not subject to the approvals of the shareholders of the investor or any relevant authorities.