KUALA LUMPUR (June 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

Telekom Malaysia Bhd (KL:TM) is partnering with Singapore Telecommunications Ltd (Singtel) to establish greenfield data centre facilities in Iskandar Puteri, Johor. The announcement confirms The Edge’s report last week which wrote that Singtel, through its indirect subsidiary Nxera My Pte Ltd, had been in discussions with Malaysian authorities to establish a data centre in Iskandar Puteri. TM said it has, via its wholly owned TM DC Educity Sdn Bhd, entered into a joint venture agreement with Nxera to establish a JV entity named ST Dynamo DC. ST Dynamo, it said, is acquiring a freehold land spanning 168,959 sq m from Khazanah Nasional Bhd's indirect unit, River Retreat Sdn Bhd, for RM178.23 million. — Telekom Malaysia teams up with Singtel to develop data centre in Johor

Bursa Malaysia Bhd (KL:BURSA) said it is in the final negotiations with the developer of The Exchange 106 at Tun Razak Exchange (TRX) to move its headquarters to TRX. The announcement confirmed The Edge’s report for June 17-23, which wrote that Bursa planned to move its headquarters to TRX. The exchange operator currently occupies a 16-storey office building in Bukit Kewangan in Kuala Lumpur. Bursa Malaysia said it is likely to occupy two storeys of the Exchange 106 building if discussion with Mulia Property Development Sdn Bhd materialises. Mulia Property is majority-owned by the Minister of Finance (Inc). — Bursa Malaysia confirms in final talks to move its HQ to TRX

Berjaya Corp Bhd (KL:BJCORP) has signed separate agreements with two Chinese firms to explore sales collaborations in Malaysia and Southeast Asia. The company will explore using its distribution network in Malaysia to boost the reach of home appliance maker Skyworth Group Co Ltd. This may also lead to the implementation of residential, commercial and industrial photovoltaic systems, it noted. Berjaya Corp also agreed with electric vehicle maker Skywell New Energy Automobile Group Co Ltd to establish its brand in Malaysia and Southeast Asia. The strategic collaborations with Skyworth and Skywell are poised to revolutionise various sectors across Malaysia and Southeast Asia, said Berjaya Corp founder and controlling shareholder Tan Sri Vincent Tan Chee Yioun. —  Berjaya Corp partners China's Skyworth, Skywell to collaborate on home appliances, electric vehicles

UEM Sunrise Bhd (KL:UEMS) has disposed of its remaining 40% stake in a joint venture, Aura Muhibah Sdn Bhd (AMSB), to Kuala Lumpur Kepong Bhd (KL:KLK) as the latter exercised its call option. The sales proceeds of RM386.2 million would be used to pare down UEM Sunrise's outstanding debt upon maturity by year end, which will in turn reduce the group’s gross gearing from 0.61 times to 0.55 times. UEM Sunrise is expected to recognise a net disposal gain of RM32 million from the deal. KLK, in return, will wholly own the joint venture that owns 2,500 acres of land in Kulai, southern Johor. The joint venture was formed a decade ago in February 2014. The JV had planned to develop residential, commercial and industrial developments on the land, as stated in the filing at that time. — UEM Sunrise sells remaining 40% stake in Johor unit to KLK for RM386.2 mil cash

Malayan United Industries Bhd (MUI) (KL:MUIIND) has secured a term loan facility of up to £152.5 million (RM912.16 million) from CF Hyde Park LP to refinance its existing term loan facility of its Corus Hyde Park Hotel in London, the UK. The facility will also be used to finance the renovation and refurbishment of the hotel into an upper-scale four-star international hotel brand. The term loan was secured by MUI's unit London Vista Hotel Ltd. — MUI secures RM912 mil loan to refinance debt, renovate London hotel

Notion VTec Bhd (KL:NOTION), whose share price reached a decade high on Tuesday, attributed the surge to its strong financial performance recovery, an industry turnaround, and heightened investor interest following a report in The Edge Malaysia weekly. In response to an unusual market activity (UMA) query from Bursa Malaysia Securities, Notion said it recorded positive returns for the first two quarters of the current financial year ending Sept 30, 2024 (FY2024), leading to favourable responses from both retail and institutional investors, indicating confidence in its future prospects. Notion said its shares also benefited from a broader industry turnaround in technology stocks, particularly in the hard disk drive and electronics manufacturing services sectors. Notion hit an intraday high of RM1.98, the highest level since April 22, 2010. The stock closed the day at RM1.96, still up 15 sen or 8.29%, with over 34 million shares changing hands. The stock has gained over 500% year-to-date. — Notion VTec attributes share price climb to financial performance, tech sector turnaround, news article

Construction engineering company Nestcon Bhd (KL:NESTCON) has bagged two high-rise building projects in the Klang Valley worth a total of RM165.56 million. Nestcon said it was awarded a RM103.5 million contract by Sunrise Charm Sdn Bhd to build a 45-storey mixed commercial development comprising strata offices and serviced apartments on Jalan Mayang in Kuala Lumpur. The job is to be completed within 44 months. Separately, it received a contract worth RM62.06 million from Taipanika Development Sdn Bhd to construct 12-storey apartments in Subang Murni, Shah Alam.  This project is to be completed within 20 months from July 8. — Nestcon bags two construction projects in Klang Valley worth RM166 mil

Biomass boiler company BM Greentech Bhd (KL:BMGREEN) (formerly known as Boilermech Holdings Bhd) said on Tuesday it had signed a term sheet to fully acquire solar firm Plus Xnergy Holding Sdn Bhd for RM110 million in shares, as it seeks to become the region’s preferred partner for clean energy and water solutions. The proposed acquisition will be settled through issuance of 81.48 million new shares at RM1.35 apiece, according to the company. BM Greentech and owners of Plus Xnergy plan to sign a definitive share sale agreement within the next 30 days, it noted. At the same time, BM Greentech will concurrently undertake a special issuance of new shares at the same price as the issue price of RM1.35 to its parent company, QL Green Resources Sdn Bhd, a subsidiary of QL Resources Bhd (KL:QL), to maintain QL’s majority ownership after the acquisition. As at June 30, 2023, QL had a 52.6% stake in BM Greentech. — BM Greentech to acquire solar firm for RM110m in shares

Sunview Group Bhd (KL:SUNVIEW) has landed a contract worth €15.6 million (RM79.46 million) for the engineering, procurement, construction and commissioning (EPCC) of a 20MW solar power plant in Bulgaria. The renewable energy solutions provider said its indirectly-owned subsidiary Sunview Builders Pte Ltd had inked an agreement with OKOP Solar EOOD, a Bulgarian company principally involved in the generation and sale of electricity from renewable resources to undertake the project. — Sunview bags solar power plant project worth RM79.5 mil in Bulgaria

Poh Kong Holdings Bhd's (KL:POHKONG) net profit jumped 51.6% to RM47.6 million in the third quarter ended April 30, 2024 (3QFY2024), from RM31.4 million in 3QFY2023, driven by higher revenue and an overall uptrend in gold prices. Revenue rose 36.5% to RM519.6 million in 3QFY2024 from RM380.7 million, mainly due to increased demand for gold jewellery and gold investment products. Earnings per share grew to 11.61 sen from 7.66 sen.  No dividend was declared during the quarter under review. — Poh Kong's 3Q earnings jump over 51% amid rising gold prices

LBS Bina Group Bhd (KL:LBS) said trading in its shares will be suspended on Wednesday at the company’s request, pending a material announcement. The suspension will take effect from 9am to 5pm, the property developer said. Trading of the group's structured warrants will also be suspended at the same time, it said. — Trading in LBS Bina to be suspended on Wednesday, pending announcement

IOI Corp Bhd (KL:IOICORP) has appointed Tan Kean Hua as its new deputy chief executive officer, effective July 1. Tan had previously been the executive director of IOI Oleochemical Industries Bhd since April of 2011. In his new capacity, Tan will oversee all resource-based manufacturing activities within the IOI group, including oleochemials, refineries, palmwood, Bunge Loders and joint ventures for paper pulp. — IOI Corp appoints Tan Kean Hua as new deputy CEO