KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Tropicana Corporation Bhd is disposing of a parcel of freehold land measuring approximately 68.5 acres in Johor Baru, Johor, to Japanese multinational information technology service and consulting company, NTT Data Group, for RM383.1mn.
Velesto Energy Bhd
has completed its mandatory five yearly special periodical survey for Naga 2 and will head to Sarawak for a development drilling campaign. It also received a letter of award for Naga 3 from Thang Long joint operating company.
Capital A Bhd chief executive officer Tan Sri Tony Fernandes has not given up on the plan for the group's in-flight catering unit Santan to provide meals aboard Malaysia Airlines flights, saying discussions on the matter are ongoing.
Telekom Malaysia Bhd is still keen to be involved in the development of the country’s 5G network, despite the collapse of its deal with Digital Nasional Bhd.
Signature International Bhd plans to list its renovation subsidiary Space Alliance Contracts Sdn Bhd and its interior fit-out business that focuses on commercial projects, Zig Zag Builders (M) Sdn Bhd.
T7 Global Bhd has secured a letter of award worth RM74.6mn from Ministry of Defence Malaysia.
KUB Malaysia Bhd has entered into a share purchase agreement with Sinong Enterprise Sdn Bhd for the disposal of 70% stake in KUB Sepadu Sdn Bhd for RM103.4mn.
An adjudicator ruled that KSK Land's unit Damai City Sdn Bhd must pay GDB Holdings Bhd a total of RM59.3mn as outstanding payment based on a contract between them for construction works carried out, but not paid.
Advancecon Holdings Bhd has announced plans to venture into the refurbishment, renovation, and management of centralised labour quarters in Perak, as well as the development of property projects within the Silver Valley Technology Park Industrial Hub.
Globaltec Formation Bhd’s Australian-listed unit NuEnergy Gas Ltd is making a cash call to raise gross proceeds up to A$8.2mn (RM24.1mn) to fund its early gas sales initiative in Indonesia.
Infraharta Holdings Bhd is refuting the allegations and reliefs sought by Consortium Zenith Construction Sdn Bhd in a suit against its unit pertaining to issues related to the major roads and Penang third link project.
Texchem Resources Bhd has redesignated its executive director Dr Yuma Konishi as the group chief executive officer following the retirement of Yap Kee Keong from the post.
Telekom Malaysia Bhd 2QFY24 net profit plunged 30.3% YoY to RM396.4mn, primarily due to a one-time recognition of tax losses in the previous year.
IOI Corporation Bhd recorded a ninefold YoY rise in its 4QFY24 to RM346.9mn from RM37.2mn a year ago boosted by a net foreign currency translation gain of RM24.3mn and a net fair value gain of RM5.6mn on biological assets.
TIME Dotcom Bhd 2QFY24 net profit fell to RM99.1mn from RM2.2bn billion a year ago, in the absence of gains from the divestment of its stake in AIMS data centre business last year.
Bank Islam Malaysia Bhd net profit rose 0.8% YoY to RM137.2mn for 2QFY24.
Hong Leong Industries Bhd’s net profit for 4QFY24 rose 41.9% YoY to RM98.3mn, thanks to higher sales of motorcycles and the improved performance of its associated company.
Guan Chong Bhd net profit for 2QFY24 surged more than two-fold YoY to RM67.0mn, driven by higher selling price for cocoa products and increased sales volume for cocoa solids.
Eastern & Oriental Bhd reported a 13.9% YoY increase in its net profit to RM37.5mn for the 1QFY25 as improved property segment contribution helped offset a weaker healthcare segment.
SKP Resources Bhd reported a 31.3% YoY increase in its net profit to RM28.3mn 1QFY25 due to better cost optimisation and higher sales performance.
Hap Seng Plantations Holdings Bhd net profit almost tripled YoY to RM27.7mn for 2QFY24, driven by higher average selling price of all palm products, higher sales volume of crude palm oil and lower operating expenses.
Panasonic Manufacturing Malaysia Bhd posted a 12.9% YoY drop in net profit to RM17.8mn for 1QFY25, mostly due to lower sales.
Signature International Bhd 2QFY24 net profit halved 97.7% YoY to RM10.5mn.
Southern Cable Group Bhd net profit more than double YoY to RM14.4mn in the 2QFY24, on the back of higher revenue, better product mix and lower plastic compound costs.
