KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Skyworld Development Bhd
completed due diligence for its proposed joint development in Vietnam's Binh Duong province, marking its second venture in the country.
Icon Offshore Bhd has entered into four conditional share sale and purchase agreements with various vendors for proposed acquisitions and the first agreement involves acquiring 100 ordinary shares in Liannex Fleet Pte Ltd from Liannex Corp (S) Pte Ltd for RM182mn.
Top Glove Corp Bhd announced a JV through its unit Top Quality Glove Sdn Bhd for high-density polyethylene glove production with Tronex (Asia) Ltd and Polywel International Trade Co Ltd.
Chin Hin Group Property Bhd established a RM500mn perpetual notes programme to fund capital expenditures, refinance borrowings, support working capital, and other corporate purposes.
Progressive Impact Corp Bhd’s wholly-owned subsidiary, Alam Sekitar Malaysia Sdn Bhd, has secured a RM14.7mn contract from Pengurusan Air Selangor Sdn Bhd.
South Malaysia Industries Bhd will hold an EGM on Jan 9, 2025, called by its largest shareholder, Target 1 Sdn Bhd, to appoint six new directors, including former Perak police chief Datuk Pahlawan Mior Faridalathrash Wahid.
Solarvest Holdings Bhd, via its wholly-owned subsidiary Atlantic Blue Sdn Bhd, has secured a RM142mn contract from SM01 Sdn Bhd for an engineering, procurement, construction, and commissioning contract.
Lagenda Properties Bhd’s indirect wholly owned subsidiary, Opti Vega Sdn Bhd, has entered into a development rights agreement with Intact Corporate Approach Sdn Bhd for the development of 56.3ha in Kota Tinggi, Johor, for an adjustable cash consideration of up to RM99.6mn.
MNRB Holdings Bhd has appointed Datuk Rudy @ Rodzila Che Lamin as its interim president and group CEO following the expiration of Zaharudin Daud's employment contract on Nov 22, 2024.
Affin Bank Bhd posted a stronger net profit of RM145.8mn for the 3QFY24, up from RM100.45mn in the same period last year, as revenue rose driven by a rise in non-interest income.
CSC Steel Holdings Bhd recorded a 21% YoY decline to RM6.9mn in net profit for 3QFY24, citing challenges from "unfair trade practices" and overcapacity.
Allianz Malaysia Bhd reported a net profit of RM183.2mn for 3QFY24, a decline of 7.4% YoY from RM197.9mn in the same period last year.
D&O Green Technologies Bhd posted a flat net profit of RM18.3mn for 3QFY24 compared to the same quarter last year, as gross margins eroded.
Bumi Armada Bhd registered a net profit of RM211.3mn in 3QFY24, a 19% YoY increase from RM177.77mn in 3QFY23.
Bintulu Port Holdings Bhd recorded a 13.7% drop in net profit to RM28.1mn for 3QFY24 from RM32.5mn YoY, impacted by increased operating costs related to service contracts, repairs, and maintenance.
Favelle Favco Bhd posted its first-ever quarterly loss since listing in 2006, with a net loss of RM7.6mn for 3QFY24 compared to a net profit of RM12.1mn in the same period last year, due to a foreign exchange loss.
