KUALA LUMPUR (July 31): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

Stock exchange operator Bursa Malaysia Bhd (KL:BURSA) announced its highest quarterly net profit in three years, thanks to higher income from the securities market. Net profit for the three months ended June 30, 2024 (2QFY2024) was RM80.45 million or 9.9 sen per share, up 5.5% compared to RM76.25 million or 9.4 sen per share over the same period a year earlier. Revenue for the quarter rose 38.27% year-on-year to RM199.94 million — also the highest in three years — from RM144.6 million. — Bursa Malaysia's 2Q net profit hits three-year high & Bursa Malaysia lifts FY2024 profit target as strong 1H momentum to persist

Separately, Bursa Malaysia said it will only move its “front office” to the Tun Razak Exchange (TRX), not its entire operation. The front office includes the stock exchange operator's marketing segment which will provide visibility and branding for Bursa Malaysia at TRX. Beyond that, the bulk of Bursa Malaysia’s operations will remain in the current headquarters. — Bursa Malaysia will only shift its 'front office' to TRX, not entire operation, says chairman Wahid

Electrical home appliances manufacturer Pensonic Holdings Bhd (KL:PENSONI) reported its biggest quarterly net loss since being listed on Bursa Malaysia in December 1995, no thanks to inventory write-downs. Net loss for the company's fourth quarter ended May 31, 2024 (4QFY2024) was RM14.28 million, compared with RM712,000 for the same quarter a year earlier. Revenue rose 8.33% to RM85.14 million from RM78.59 million. No dividend was declared for the quarter. — Pensonic posts biggest quarterly, full-year losses after inventory write-downs 

Logistics solutions provider Tasco Bhd’s (KL:TASCO) net profit halved to RM7 million or 0.88 sen per share in the first quarter ended June 30, 2024 (1QFY2025), from RM14.22 million 1.78 sen per share a year ago, dragged mainly by a one-time expense of RM3.6 million, resulting from the writing off the carrying value of a head office building at the Shah Alam Logistics Centre. Quarterly revenue inched down 1.29% to RM249.93 million, from RM253.19 million a year before. No dividend was declared during the quarter under review. — Tasco's earnings halves in 1Q mainly due to one-time write-off charge

Unisem (M) Bhd's (KL:UNISEM) net profit fell 29% to RM16.76 million or 1.04 sen per share in the second quarter ended June 30, 2024 (2QFY2024) from RM24 million or 1.48 sen per share a year ago, due to a change in product mix and higher operating costs. Quarterly revenue increased 4% to RM394.59 million, from RM378.66 million previously, attributed to higher sales volume and the appreciation of the US dollar against the ringgit. It declared a second interim dividend of two sen per share, scheduled for payment on Oct 4. — Unisem's 2Q net profit falls 29% due to change in product mix, higher operating costs

Dufu Technology Corp Bhd's (KL:DUFU) net profit jumped over twofold to RM8.42 million or 1.6 sen per share for the second quarter ended June 30, 2024 (2QFY2024), from RM3.32 million or 0.6 sen per share a year ago, on the back of higher revenue. Revenue for the quarter under review increased by 36.4% year-on-year to nearly RM65 million from RM47.7 million, thanks to higher contributions from hard disk drive components. It declared a single-tier interim dividend of 1.5 sen per share, to be paid on Sept 20. — Dufu Tech's 2Q net profit more than doubles, declares 1.5 sen dividend

ITMAX System Bhd (KL:ITMAX) 65% subsidiary Southmax Sdn Bhd (SSB) has been appointed the operator of a smart parking system by the Kulai Municipal Council in Johor. It will operate the smart parking system for 3,974 street parking bays across 28 locations in Kulai district. The appointment, effective Aug 1, 2024, will last 15 years. — ITMAX System appointed smart parking operator in Kulai

Advancecon Holdings Bhd (KL:ADVCON) has accepted the letter of acceptance (LOA) from Sime Darby Property (Bukit Raja) Sdn Bhd as the contractor for the construction and completion of earthworks and ancillary works for Phase 4B (i17), Bandar Bukit Raja Stage 3, in Klang for a total of RM38.25 million. Its unit Advancecon Infra Sdn Bhd (AISB) had accepted the LOA for the contract that runs from Aug 14, 2024 until Feb 13, 2026. — Advancecon bags contract worth RM38.25m from Sime Darby Property

AwanBiru Technology Bhd (KL:AWANTEC), which provides technology and talent solutions software services, is teaming up with the country's cybersecurity regulator National Cyber Security Agency (Nacsa) to develop new technologies in cybersecurity. The signed memorandum of understanding which expires on July 29, 2026, could be extended for another year if both parties agree. — Awantec inks MOU with Nacsa to develop cybersecurity technologies

Building and infrastructure construction company TCS Group Holdings Bhd (KL:TCS) has secured a RM130.15 million contract to undertake the construction of serviced apartments in Selangor, in a related party transaction. The 630-unit serviced apartment project, known as Arcadia Residences, is located in the Kuala Langat district. The three-year contract was awarded by Saujana Permai Development Sdn Bhd, a wholly owned subsidiary of CDB Group Holdings Sdn Bhd. — TCS bags RM130 mil related-party contract to build apartments in Kuala Langat

Oil and gas services firm Enra Group Bhd (KL:ENRA) plans to sell its Ratu Enra ship for an indicative US$15 million (RM70.06 million), to capitalise on rising market value due to high demand in the industry. Enra will seek shareholders’ approval for the disposal of the chemical tanker to an external buyer to be identified, for at least 85% of its market value. The provisional market value of RM70 million indicates pro forma after-tax gain of RM8.51 million. — Enra seeks mandate to sell vessel, to fund expansion or purchase of newer vessels