KUALA LUMPUR (July 10): Here is a brief recap of some business news and corporate announcements that made headlines on Wednesday:

The Securities Commission Malaysia (SC) has filed a civil suit against Sabah businessman Datuk Raymond Chan Boon Siew for alleged insider trading involving the shares of Naim Indah Corp Bhd (NiCorp), now known as Pegasus Heights Bhd (KL:PHB). SC claimed that Chan breached the Capital Markets and Services Act 2007 as he had communicated insider information to Datuk Lim Thiam Huat — managing director and substantial shareholder of pulp and paper manufacturer Nextgreen Global Bhd (KL:NGGB) where he has 13.06% stake. — SC sues former Naim Indah CEO and substantial shareholder Chan Boon Siew for alleged insider trading

Aeon Credit Service (M) Bhd's (KL:AEONCR) net profit for its first financial quarter ended May 31, 2024 (1QFY2025) rose marginally by 7.1% year-on-year to RM106.41 million from RM99.36 million, supported by stronger loan and financing growth. Revenue for 1QFY2025 rose 15.4% to RM522.26 million from RM452.67 million previously. No dividend was proposed or declared for the quarter. — Aeon Credit 1Q net profit marginally rises on stronger loan, financing growth

Eurospan Holdings Bhd (KL:EUROSP), controlled by the children of businessman Tan Sri Robert Tan Hua Choon, has declared a special dividend of 20 sen per share for the financial year ending May 31, 2025 (FY2025). The special dividend will be paid on Aug 5, with an ex-date of July 24 and an entitlement date of July 25. This is the first dividend Eurospan has declared in 14 years. It last declared a dividend of 40 sen per share in FY2011. — Furniture maker Eurospan declares 20 sen special dividend for FY2025, first in 14 years

QL Resources Bhd (KL:QL) has proposed to undertake a bonus issue of up to 1.22 billion shares on the basis of one bonus share for every two existing shares held, to reward shareholders. QL said its share price adjusted for the bonus issue must not be less than 50 sen, based on the daily volume-weighted average market price for the three-month period before the application date, to comply with Bursa's listing requirements. — QL Resources proposes one-for-two bonus issue

Construction outfit Haily Group Bhd (KL:HAILY) said it plans to reward its shareholders with a bonus issue of one new share for every share held. This will be followed by a free warrant issue on the basis of one warrant for every two shares held by which the warrant will have a tenure of three years. The entitlement date for the bonus issue will be determined later and the warrants' entitlement date will be announced after the completion of the bonus issue. — Haily proposes one-for-one bonus issue with free warrants

Genting Malaysia Bhd's (KL:GENM) said its subsidiary GENM Capital Bhd has made an early redemption of RM1.3 billion in nominal value from its RM2.4 billion medium term notes (MTNs). The early redemption of RM1.3 billion comprises the second tranche of the MTNs which were issued in August 2015 for a tenure of 10 years, with a coupon rate of 4.9% per annum. When the notes were issued, GENM said the proceeds from the issuance of the MTNs would be utilised for the operating expenses, capital expenditure and working capital requirements of the group. — Genting Malaysia's subsidiary makes early redemption of RM1.3b from MTNs

Loss-making MUI Properties Bhd (KL:MUIPROP), in which Malayan United Industries Bhd (KL:MUIIND) owns a 23.48% stake, is selling 53 acres of freehold land in Port Dickson, Negeri Sembilan, for RM80.8 million cash. Its wholly owned subsidiary Peristal Enterprise Sdn Bhd via its 60%-owned unit West Synergy Sdn Bhd entered into a sale and purchase agreement with Antmed Malaysia Sdn Bhd for the disposal of the land located at Bandar Springhill. MUI is expecting to gain RM16.58 million (before tax and non-controlling interest) from the proposed disposal, which is scheduled to be completed in the fourth quarter of 2025. — MUI Properties unit to sell freehold land in Port Dickson for RM81 mil cash

Integrated construction and property company PTT Synergy Group Bhd (KL:PTT) is disposing of two units of three-storey detached factories in Sepang, Selangor, to MCM Land Sdn Bhd for RM26 million. The disposal consideration represents an 8.33% premium over the current market value of the properties, appraised at RM24 million by independent valuer Laurelcap Sdn Bhd. — PTT Synergy to dispose of two factories for RM26 mil

Annum Bhd (KL:ANNUM) said it has been awarded a sub-contract worth RM53.2 million by Iqzan Holding Bhd (KL:IQZAN) to supply material, labour and machinery for the construction of an office building in Jalan Tun HS Lee. The two-year sub-contract was awarded by Iqzan's subsidiary Kacon Construction Sdn Bhd. — Annum secures RM53 mil contract to supply material, labour for office building construction

Econpile Holdings Bhd (KL:ECONBHD) has secured a RM26.5 million contract to undertake piling, earthworks and sub-structure works for a 40-storey condominium project in Mont Kiara. The contract was awarded by SNA Consult Sdn Bhd on behalf of Modern Plus Sdn Bhd. — Econpile gets RM27m earthworks job for Mont Kiara condo project