KUALA LUMPUR (Sept 5): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Inta Bina Group Bhd (KL:INTA) has secured another construction contract from Sime Darby Property Bhd (KL:SIMEPROP) worth RM96.55 million to undertake main building and construction works for a 37-storey serviced apartment project in Putra Heights. Its wholly-owned subsidiary, Inta Bina Sdn Bhd, was awarded the contract by Sime Darby Property (Bukit Raja) Sdn Bhd. The project involves the construction of 246 business serviced apartments and 62 affordable business units, five levels of parking and other resident facilities. — Inta Bina secures RM96.55 mil construction job

Sentoria Group Bhd (KL:SNTORIA) said  Messrs Grant Thornton Malaysia PLT (GTM) has voluntarily resigned as the company’s external auditor. However, it did not specify the reason for its departure. Sentoria said it is now in the process of appointing new external auditors. Recently, the builder and developer has been in the spotlight due to a dispute with its former chief executive officer Datuk Loh Yuen Tuck. — Sentoria announces voluntary resignation of its external auditors

Systech Bhd (KL:SYSTECH) has teamed up with Pinetop Technology Venture Sdn Bhd to develop and operate data centres. The information technology services firm announced that its wholly-owned subsidiary, SysAIU Sdn Bhd, has entered into a collaboration agreement with Pinetop Technology Venture Sdn Bhd to establish, develop and operate data centres and other related business activities. The announcement did not elaborate on details about the data centre project.  — Systech teams up with Pinetop to develop data centres 

 Kerjaya Prospek Property Bhd's (KL:KPPROP) chief executive officer Joanne Lee Sor Phaik has resigned from her role after only slightly more than a year helming the property developer. Kerjaya Prospek Property said Lee, 54, had stepped down "to pursue personal interest". According to the group's latest annual report, Lee was appointed to the position on July 13, 2023. — Kerjaya Prospek Property CEO resigns to pursue own interests

 IHH Healthcare Bhd’s (KL:IHH) planned acquisition of Island Hospital is done at an attractive valuation and would deepen the hospital operator’s presence in the medical tourism market, analysts said. The price tag, which values the Penang-based hospital at forward enterprise multiple of 19.2 times, is “reasonable” and “attractive” given its high quality assets, said Hong Leong Investment Bank. The valuation is also lower than that of IHH’s past acquisition and others’ recent deals, the research house noted. — IHH's price tag for Island Hospital reasonable, attractive — analysts

PPB Group Bhd (KL:PPB) is optimistic about its 2H2024 outlook, saying that the strengthening of the ringgit against the US dollar could lead to higher consumer spending and reduced raw materials cost. “I think we are optimistic in all the segments, and it should be better than the first half, and [thus,] we are quite confident to deliver satisfactory results,” PPB group managing director Lim Soon Huat said. Lim said the stronger ringgit is favourable to the conglomerate’s procurement of raw materials, which are mostly imported. — PPB optimistic on 2H outlook amid stronger ringgit

Steel Hawk Bhd (KL:HAWK), which has transferred its listing to the ACE Market of Bursa Malaysia via an initial public offering (IPO), said the group is bidding for more long-term Petroliam Nasional Bhd (Petronas) contracts and expanding its renewable energy business. “We are bidding for quite a number of long-term call-out agreement contracts [from Petronas] ranging from three to 10 years,” said deputy chairman and executive director Datuk Sharman K Michael.  The company already holds 12 call-out contracts with Petronas, extending through 2027, he added. — Steel Hawk bidding for more Petronas contracts, eyes green energy expansion

Binastra Corporation Bhd (KL:BNASTRA) has secured a construction contract worth RM283.33 million for an apartment project in Kuala Lumpur. The contract is expected to contribute to its income over the next four financial years ending Jan 31 (FY2025 to FY2028). The project from Kaisar Maxim Sdn Bhd, owned by Maxim Global Bhd (KL:MAXIM), involves main building works for the proposed development of three blocks of 31-floor apartments totalling 624 units in Taman Desa. — Binastra Corp gets RM283m KL apartment construction contract