KUALA LUMPUR (Jan 11): Here is a brief recap of some corporate announcements that made news on Thursday:

Sabah-based gold miner Borneo Oil Bhd has ended its gold-mining venture with Syarikat Ratna Pura Sdn Bhd (SRP) and Ricco Mining Sdn Bhd in Mukim Keratong, Rompin, Pahang, as part of its plans to downsize its mining operations in the state. Borneo Oil said it has entered into a deed of cancellation and novation with Lum Har Chi @ Lum Kong Fatt, Lum Kong Sun and Zainab Mohd Taib (vendors) to acquire a 90% stake in SRP for RM1.8 million cash. SRP is the concession owner of a mining area measuring 194.22ha in Rompin, with a validity period of five years expiring on March 16, 2025. Borneo Oil ends gold mining ops in Pahang land as it scraps plan to buy concessionaire

The value of Fajarbaru Builder Group Bhd’s contract for the planning phase of the redevelopment of military facilities at the Royal Malaysian Air Force base in Butterworth, Penang has been revised to a higher sum of RM16.26 million from RM7.36 million previously. The revision was to provide for "the 50% schematic design report to be a planning phase milestone", and to defer the date for the delivery phase approval. Parties to the contract have agreed to the revision and entered into a deed of amendment on Dec 22, 2023 to amend the contract. The contract was awarded by the Australian Department of Defence in July last year, which hired an unincorporated joint venture between Fajarbaru’s unit and Avionics Pty Ltd, which is wholly owned by Avionics Holdings Pty Ltd. Avionics Holdings is 60%-owned by the Nick Brumley Family Trust with the other 40% stake held by the S&R Webb Family Trust. Fajarbaru's RMAF Butterworth base redevelopment contract sum revised higher to RM16.26m

Autoparts maker and duty-free goods trader Atlan Holdings Bhd's net profit rose 9.48% to RM6.47 million in the third quarter ended Nov 30 (3QFY2024) from RM5.91 million a year ago on the back of higher revenue from the automotive segment. Quarterly revenue grew by 19.12% to RM117.19 million compared with RM98.38 million in the previous corresponding period, resulting in an improved earnings per share of 2.55 sen, up from 2.33 sen. The group declared a second interim dividend of four sen, payable on Feb 22. Atlan's 3Q profit rises 9.48% to RM6.47 mil, declares four sen dividend

Hume Cement Industries Bhd (HCIB), a member of the Hong Leong Group, has accepted an offer to sell its plot of land in the Prai Industrial Estate in Penang for RM39.8 million cash that will bring it an estimated net gain of RM32 million. The offer for the leasehold industrial land together with the buildings built on it was made by Skygate Technology (KL) Sdn Bhd. The size of the plot, held under its wholly-owned Hume Concrete Sdn Bhd, was not disclosed in the filing. A check with its annual report based on the address given showed that the plot measures about 653,400 sq ft and was acquired in 1982 with a net book value of RM1.32 million as of June 30, 2023. No reason for the disposal was given. Hume Cement sells Prai industrial plot for RM39.80 mil

UEM Sunrise Bhd unveiled an enhanced version of its virtual concierge app named hUb prop at Kiara Bay Sales Gallery, Kepong here on Thursday. The updates include enhancement of the app’s user interface, partnering with more merchants through the Tresor Partnership Program for the benefit of the Tressorian community (member of UEM Sunrise's customer loyalty programme), and the ability to personalise the app according to needs, said UEM Sunrise director of digital technology and innovation department Hasniza Mohamed. UEM Sunrise unveils revamped hUb prop, a virtual concierge app with new features

JAG Capital Holdings Bhd’s mandatory general offer (MGO) for KUB Malaysia Bhd is not due to any valuation issues, according to Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani. JAG is controlled by Johari, who is a shareholder with a 98.75% stake. On Tuesday, JAG raised its stake in KUB to above the 33% threshold, triggering the MGO. JAG said it does not intend to keep KUB’s listing status should it secure 90% of all KUB shares. He also stressed that the corporate exercise had been announced prior to his appointment as minister. Johari Ghani: Takeover offer for KUB not due to company being undervalued