KUALA LUMPUR (Aug 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Lagenda Properties Bhd's (KL:LAGENDA) net profit for the second quarter ended June 30, 2024 rose by 45.8% to RM48.4 million from RM33.2 million a year earlier, driven by higher contributions from its property development and construction divisions. Revenue increased by 25.2% to RM245.8 million from RM196.4 million. The company declared a three sen interim dividend, payable on October 25. — Lagenda Properties' 2Q net profit rises 46% on higher property development, construction performance

Oil and gas support services provider Perdana Petroleum Bhd (KL:PERDANA)posted a net profit of RM34.7 million for the second quarter ended June 30, 2024, a fourfold increase from RM8.65 million a year earlier, marking its highest quarterly profit in 16 years. The rise was driven by higher vessel utilisation rates, better margins and a slight net foreign exchange gain. Revenue grew by 52.6% to RM124.59 million from RM81.64 million. The company did not declare a dividend for the quarter. — Perdana Petroleum posts highest quarterly profit in 16 years on higher utilisation rates, favourable forex movement

Property developer EcoFirst Consolidated Bhd (KL:ECOFIRS) is acquiring a 4.51-acre piece of freehold land in Kajang for RM35 million to develop a mixed-use project, with an estimated gross development value of RM380.9 million. The purchase will be funded through internal funds and bank borrowings. The group plans to start the project in early 2025, with development expected to take three to four years. — EcoFirst to acquire 4.5-acre land in Kajang for RM35m for mixed development

Kotra Industries Bhd's (KL:KOTRA) net profit for the fourth quarter ended June 30, 2024 (4QFY2024) declined 4.5% to RM12.49 million  from RM13.09 million a year earlier, primarily due to higher tax expenses. Despite this, quarterly revenue rose 7.2% to RM59.82 million from RM55.8 million, driven by stronger sales of supplement products in both local and export markets, which offset a decline in local pharmaceutical sales. The company declared a second interim dividend of 13 sen per share, totalling RM19.28 million, payable on October 10. — Kotra Industries 4Q net profit drops 4.5% on higher tax expenses

Batu Kawan Bhd (KL:BKAWAN)and its 47.9%-owned subsidiary, Kuala Lumpur Kepong Bhd (KL:KLK), reported higher earnings for the third quarter ended June 30, 2024, driven by strong performance in the plantation segment. KLK's net profit surged 185.6% year-on-year to RM240.2 million from RM84.1 million, while revenue increased by 7.6% to RM5.5 billion from RM5.12 billion. Batu Kawan's net profit increased by 58.2% to RM131 million from RM82.8 million, with revenue growing by 6.2% to RM5.7 billion from RM5.35 billion. The growth was attributed to higher selling prices and sales volumes of palm oil products, lower production costs and reduced fair value loss on unharvested fruit. No dividend was declared for the quarter by either company. — Higher contribution from plantation boosts KLK, Batu Kawan 3Q earnings

Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) reported a 10% decline in net profit for the second quarter ended June 30, 2024 to RM79.40 million, compared to RM88.24 million a year earlier. The decrease was attributed to higher marketing expenses, inflationary cost increases and the rebalancing of trade purchases before a product price hike. Revenue remained relatively flat at RM507.48 million. The company declared a second interim dividend of 20 sen per share, down from 22 sen per share in the same period last year. — Carlsberg Malaysia's 2Q net profit slips 10%, declares 20 sen dividend

YX Precious Metals Bhd (KL:YXPM), a gold jewellery manufacturer and 70%-owned subsidiary of Tomei Consolidated Bhd (KL:TOMEI), has received approval from Bursa Securities to transfer its listing from the ACE Market to the Main Market. The transfer will occur on Thursday with no changes to its stock short name, stock code or ISIN code. — YX Precious Metals gets green light for transfer to Main Market on Thursday

Conglomerate IJM Corp Bhd (KL:IJM) has secured two contracts worth a total RM561 million to construct data centres in Johor and an industrial manufacturing facility in Penang. The RM508 million data centre project in Johor is a joint venture with Woh Hup Malaysia, while the RM307 million Penang project is an electrical and electronics manufacturing facility for a US-based company. These contracts bring IJM Construction's total secured jobs for the year to RM1.9 billion, with a total order book of RM7.9 billion. — IJM Corp bags RM561m contracts to build data centres and industrial manufacturing facility

LEAP Market-listed Sunmow Holding Bhd's (KL:SUNMOW) joint-venture company has secured a RM1.02 billion contract for road construction under the Sarawak-Sabah Link Road project. Sunmow holds a 70% stake in the JV, with Kemena Holding Sdn Bhd owning 30%. The project, covering the Bukit Pagon to Long Luping section, is set to be completed in 48 months, with a 24-month defects liability period. — LEAP Market-listed Sunmow’s JV bags RM1b road construction contract

Pengurusan Air Selangor Sdn Bhd (Air Selangor) has raised RM1.2 billion through its sixth and largest tranche of Sustainable and Responsible Investment Sukuk Kelestarian. This issuance, which includes four series with maturities of 10 to 25 years, completes its seventh issuance under a RM10 billion sukuk murabahah programme. — Air Selangor raises RM1.2b via SRI sukuk issuance

Hextar Global Bhd (KL:HEXTAR) reported a net profit of RM19.16 million for 2QFY2024, more than double the RM8.67 million from the same period last year. Revenue surged 59.5% to RM213 million, up from RM133.5 million, driven by increased earnings from specialty chemicals and new durian trading contracts. The company proposed an interim dividend of 0.5 sen per share, payable on October 4. — Hextar posts over twofold increase in 2Q net profit, declares 0.5 sen dividend

Kerjaya Prospek Group Bhd (KL:KERJAYA) has secured a RM275.29 million contract for a 50-storey building in Bandar Tanjung Pinang, Penang. The contract, awarded to its subsidiary Kerjaya Prospek (M) Sdn Bhd by Persada Mentari Sdn Bhd, will see construction of 261 serviced apartment units with parking and facilities. The project is set to be completed in 38 months. — Kerjaya Prospek secures RM275m construction contract in Pulau Pinang

Malaysia Airports Holdings Bhd (KL:AIRPORT) reported a record 12.4 million in passenger movements in July, up 7.3% from the previous month. Local airports saw 8.5 million passengers, with international movements up 11% and domestic movements rising 5%. — MAHB's passenger movements in July at highest level post-pandemic

Prolintas Infra Business Trust (KL:PLINTAS) reported a net profit of RM4.03 million for the second quarter ended June 30, 2024, down from RM14.64 million a year earlier due to higher finance costs and tax expenses. Revenue more than doubled to RM79.33 million from RM34.34 million, driven by increased toll collections from higher traffic volumes. The trust declared its first interim distribution of 3.18 sen per unit, totaling RM35 million, payable on September 18. — Prolintas Infra posts RM4 mil profit in 2Q, declares 3.18 sen interim distribution