KUALA LUMPUR (April 23): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Fresh from staving off a takeover, IJM Corporation Bhd (KL:IJM) is now aiming to list its mainstay construction business before the end of 2027. The framework for a listing of a pure-play construction unit is expected to be finalised within the next two months, Kenanga Investment Bank said in a report following a meeting with IJM’s management. Once set, the listing would carry a 12-month timeline, the research house said. — IJM Corp aims to list construction business by 2027, says Kenanga

Solarvest Holdings Bhd (KL:SLVEST) has secured a RM1.06 billion engineering, procurement, construction and commissioning (EPCC) contract for a large-scale solar (LSS5) farm with a capacity of 470MW in Larut and Matang, Perak. The group said the contract was awarded to its wholly owned subsidiary, Atlantic Blue Sdn Bhd (ABSB), by Malakoff Silver Solar Sdn Bhd (MSSSB). MSSSB is jointly owned by Solarvest and Malakoff Corp Bhd (KL:MALAKOF), with shareholdings of 20% and 80% respectively. The project is scheduled for completion by Feb 29, 2028. — Solarvest wins RM1.06b EPCC contract for 470MW Perak solar farm

ViTrox Corp Bhd (KL:VITROX) said it anticipates a sustained growth trajectory throughout 2026, as the global semiconductor industry enters a robust expansion phase, after delivering its second-highest quarterly net profit in the first quarter ended March 31, 2026 (1QFY2026). The group said the surge was driven by escalating demand for artificial intelligence (AI), rapid expansion of data centre infrastructure, and a sharp rebound in memory prices, which are projected to lift industry revenues significantly. ViTrox’s quarterly net profit more than doubled to RM51.2 million from RM24.16 million a year earlier — marking the highest since 2QFY2022, when the group posted RM51.35 million. Quarterly revenue jumped 89.2% to RM267.05 million from RM141.12 million in 1QFY2025. — ViTrox delivers second-highest quarterly profit, eyes sustained growth amid semiconductor expansion

Wawasan Dengkil Holdings Bhd (KL:DENGKIL) announced that it has secured a RM22.7 million contract to build residential units in Sepang, Selangor. The group said the letter of acceptance (LOA) was given to its wholly owned subsidiary Wawasan Dengkil Sdn Bhd (WDSB) from the Selangor State Development Corp (PKNS). As per the contract, the construction firm’s unit will be responsible for the construction and completion of 56 single-storey residential units. Works are scheduled to commence on June 8, and completion is expected on Oct 24, 2027. — PKNS awards Wawasan Dengkil with RM22.7 mil job to build residential units in Sepang

Vetece Holdings Bhd (KL:VTC), an enterprise IT firm, has secured a contract valued at RM39.63 million to provide Salesforce’s customer relationship management cloud software to a Malaysian utility company. The job, awarded to its unit Vision Technology Consulting Sdn Bhd on Thursday, covers subscription, maintenance, support services, as well as enhancement services. The contract's tenure was not disclosed, though Vetece noted it is expected to be delivered over the financial years ending Aug 31, 2026 (FY2026) up to FY2029. The client’s identity was not disclosed in the filing. Vetece described it as a “leading Malaysian utility company”. — Vetece gets RM40 mil job to provide Salesforce cloud software to utility company 

Sarawak-based Insights Analytics Bhd (KL:IAB) has secured a RM12.24 million subcontract for substation work in Sibu, Sarawak. The ACE Market-listed group said its wholly owned unit, Insights Analytics Technologies Sdn Bhd, has accepted a letter of award from Tele Kenyalang Engineering Sdn Bhd for the construction, digitalisation and smart systems integration works at the Upper Lanang 33/11kV substation. The contract, which also covers external works for the substation project, is scheduled to commence on May 7 and run for 16 months, with completion targeted for Sept 6, 2027. — Insights Analytics bags RM12.24m substation contract in Sibu

Tanco Holdings Bhd (KL:TANCO) has revised the commercial structure of its proposed smart AI container port in Port Dickson, replacing an earlier long-term lease arrangement with a port development concession (PDC) model, which formalises the project under a concession framework while preserving the planned payment structure and tenure of up to 98 years. The property developer said its 79%-owned subsidiary Midports Holdings Sdn Bhd (MHSB) and 80%-owned unit MBINS Ventures Sdn Bhd (MVSB) have entered into a supplemental heads of agreement with Menteri Besar Negeri Sembilan (Pemerbadanan) (MBINS) to amend the terms of the original agreement signed in November last year. Under the initial structure, MVSB was to lease the land to MHSB for 98 years at a base rental of RM5 million a month, with payments beginning three years after the agreement date or upon completion of the port and commencement of operations, whichever was later. That arrangement has now been replaced with a PDC, under which MVSB will grant MHSB concession rights over the land for an initial 33 years, with two extension options of 33 years and 32 years respectively. — Tanco restructures RM3.5 bil Port Dickson AI port deal under concession model

Chin Teck Plantations Bhd (KL:CHINTEK) has warned that crude palm oil (CPO) prices are expected to be volatile amid the uncertainties in Middle East geopolitical conflicts, although stronger global biodiesel demand could lend support to prices. This comes after the group reported a 79.1% fall in net profit for the second quarter ended Feb 28, 2026 (2QFY2026) to RM3.67 million from RM17.56 million a year earlier, mainly due to heavier losses from associate and joint ventures as well as higher other expenses. Revenue, however, rose 13.4% to RM67.37 million from RM59.43 million, driven by higher sales volume of CPO and palm kernel (PK), although fresh fruit bunch (FFB) sales volume declined and average selling prices for FFB, CPO and PK were lower. — Chin Teck Plantations warns of volatile CPO prices ahead after 79% drop in 2Q net profit

UUE Holdings Bhd (KL:UUE) posted a sharp increase in its fourth-quarter earnings, supported by higher revenue across its core business segments. For the fourth quarter ended Feb 28, 2026 (4QFY2026), the underground utilities engineering services provider booked a net profit of RM7.64 million, more than double the RM3.44 million registered in the previous year. Quarterly revenue increased by 40.38% to RM58.89 million versus RM41.95 million previously, mainly driven by stronger contributions from its underground utilities engineering solutions segment, alongside higher sales from its manufacturing and trading of high-density polyethylene (HDPE) pipes business. — UUE Holdings sees jump in 4Q sales; annual net profit dragged down by higher administrative costs

Pantech Global Bhd (KL:PGLOBAL), a steel pipe and pipe fitting maker, ended the final quarter of its latest financial year with lower earnings, on the absence of a one-off gain, as well as operating expenses weighing on its bottom line. Net profit for the three months ended Feb 28, 2026 (4QFY2026) fell 80.7% to RM11.39 million from RM58.96 million in 4QFY2025, a high-base quarter boosted by a one-off gain of RM52.34 million from a "bargain" acquisition — fair value of net asset exceeded purchase consideration — recognised in January 2025. Quarterly revenue was up 65% year-on-year (y-o-y) to RM136.29 million, driven by higher selling prices, as US tariffs were passed through to US-based customers, as well as three full months of operation of Pantech Steel Industries Sdn Bhd and Pantech Stainless & Alloy Industries Sdn Bhd. — Pantech Global ends FY2026 with lower earnings on higher expenses