KUALA LUMPUR (June 27): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Sapura Energy Bhd’s (KL:SAPNRG) net profit shrank nearly 44% to RM82.13 million for 1QFY2025 from RM146.09 million the year before, no thanks to a RM117.76 million loss resulting from the liquidation of a subsidiary. The group’s foreign exchange gains came in much lower at RM52.4 million in 1QFY2025, compared with RM217.6 million a year ago. Earnings per share contracted to 0.45 sen from 0.91 sen previously. However, quarterly revenue grew 23.6% to RM1.18 billion from RM951.73 million as a result of higher project progress in its engineering and construction segment. The cash-strapped company did not declare any dividend for the quarter under review. Sapura Energy’s 1Q net profit down 44% amid RM117m loss on liquidation of subsidiary

Crescendo Corp Bhd's (KL:CRESNDO) net profit for the 1QFY2025 surged to RM289.03 million from RM13.2 million in 1QFY2024, due to land sales for a data centre in Nusa Cemerlang Industrial Park in Johor. Revenue also soared to a record high of RM527.27 million compared with RM58.33 million previously, largely from property development and construction operations, which contributed more than 90% in 1QFY2025. It said the company is optimistic about the property market outlook, especially in Johor, for the next few years. However, it remains cautious amidst the rapid changes in the market environment. Land sales lift Crescendo’s net profit to record high of RM289 million in 1QFY2025

United Malacca Bhd (KL:UMCCA) reported a 77.81% rise in quarterly net profit to RM15.3 million from RM8.6 million a year earlier, driven by stronger revenue contributions from its main business segments which offset losses from its investment activities. Earnings per share rose to 7.29 sen from 4.1 sen previously. Revenue increased 26.75% to RM171.49 million from RM135.3 million in 4QFY2023. It declared a second interim dividend of 7 sen per share, payable on Aug 9. Looking ahead, United Malacca anticipates increased FFB production in FY2025 due to an improved age profile and enhanced operational efficiency. United Malacca's quarterly net profit jumps 78% on higher oil palm prices, declares 7 sen dividend

MARC Ratings Bhd has downgraded YNH Property Bhd's (KL:YNHPROP) Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBIS with a negative outlook in a move that it says reflects heightening concerns over the group's business and financial prospects. The downgrade was made as MARC removed the programme from its negative watch, in which it has been placed since Jan 18 due to YNH's weak financial position, delayed asset disposals and material issues concerning its key shareholder that have compounded the challenges that the group faces to address its weakening credit profile, MARC said in a statement.  MARC downgrades YNH's sukuk to BBIS, with negative outlook

Separately, YNH said the conditional period of the sale and purchase agreement for it to sell 163 Retail Park to Sunway Real Estate Investment Trust has been extended by three months to Sept 26 as the conditional period ended on Thursday. This is the second extension for the deal. YNH Property extends the conditional period for RM215 mil sale of 163 Retail Park to Sunway REIT till Sept 26

Dataprep Holdings Bhd’s (KL:DATAPRP) shareholders rejected the reappointment of non-independent and non-executive chairman, Datuk Mohd Rizal Jaafar, and two independent directors — Abdul Aziz Ishak and Nur Zarina Ghazali — at its AGM. Dataprep announced their cessation of office because resolutions on their re-appointment were not carried out at the group’s 35th annual general meeting held on Thursday. Besides, Dataprep shareholders have also voted against the proposed aggregate directors' fees and benefits payable to its board members of an amount not exceeding RM400,000 from 27 June 2024 till the next AGM.  Dataprep shareholders reject reappointment of chairman Mohd Rizal and two directors at AGM    

Voultier Sdn Bhd, a firm controlled by businessmen Datuk Wira Mubarak Hussain Akhtar Husni and Datuk Lai Keng Onn, has completed the acquisition of a 51% stake in financially troubled EA Technique (M) Bhd (KL:EATECH). Voultier now owns the majority stake in the marine transportation and offshore storage services group after subscribing for 676.39 million shares through a share issuance exercise, which was part of EA Tech’s regularisation plan to address its Practice Note 17 (PN17) status. Voultier does not intend to undertake a mandatory general offer and is seeking an exemption from the obligation to do so. Voultier completes acquisition of 51% stake in EA Technique

MyEG Services Bhd (KL:MYEG) announced the activation of its blockchain-based cross-border trade facilitation services after it has secured recognition of certificates from relevant authorities. This service, known as ZTrade services, operates on MyEG’s blockchain platform, Zetrix. It enables all data in these certificates to be available accurately in near real-time, increasing tariff computation and customs clearance efficiency. Exporters using the service will benefit from faster and more convenient clearance processing for trades going into China. MyEG activates block-chain based cross-border trade facilitation services for exporters