KUALA LUMPUR (Sept 19): Here is a brief recap of some corporate announcements that made the news on Thursday:

Pharmaniaga Bhd’s (KL:PHARMA) newly launched biopharmaceutical plant is expected to lift its gross profit margin to about 30% to 35% for the financial year ending Dec 31, 2026 (FY2026). The plant, located in Puchong and operated by Pharmaniaga Life Sciences Bhd, has an annual production capacity of up to 30 million doses of human insulin. It will also produce other essential biopharmaceuticals, including vaccines and biosimilars. “For (human) insulin alone, we are looking for RM100 million per annum and we are also looking over about RM300 million per annum for vaccines. This is in terms of revenue. This new facility, which is the country’s first locally owned biopharmaceutical plant, will automatically lift up our revenue (going forward),” said its managing director Zulkifli Jafar.  — Pharmaniaga’s new insulin, vaccine plant to raise FY2026 gross margin to 30%-35%

Country Heights Holdings Bhd (KL:CHHB) said it will request a contractor for the group's residential project in Kedah to withdraw its legal action against the group's subsidiary, Country Heights Smart Living Sdn Bhd, over alleged unpaid payments. If the contractor, Lean Xing Construction Sdn Bhd, refuses to withdraw the petition that has been filed against the subsidiary, CHHB will proceed to inform Bursa Malaysia of the potential reputational harm caused by the legal action. The dispute revolves around alleged unpaid sums related to the construction of 90 "super-linked modern contemporary houses" in its development project in Kolej Heights Utara in Jitra, Kedah. However, it did not clarify the value of the alleged unpaid sums. — Country Heights to ask contractor to withdraw legal action over alleged unpaid sums

Eco World Development Group Bhd (KL:ECOWLD) reported a 21.26% year-on-year increase in its third quarter net profit, driven by improved earnings contributions from its Malaysian operations. Its net profit for the three months ended July 31, 2024 rose to RM80.44 million from RM66.34 million a year earlier, as revenue grew 10.35% to RM526.22 million from RM476.85 million, supported by higher contributions from active phases and newly launched developments. Gross profit margin improved to 31.3% from 27.2%, largely due to the realisation of cost savings from certain completed and near-completion phases. The group declared a second interim dividend of two sen per share, payable Oct 23. — EcoWorld's 3Q profit jumps 21% as revenue and margin improve; 10-month sales exceed FY2024 target

Softer consumer demand in the first quarter ended July 31, 2024 (1QFY2025) sent SSF Home Group Bhd’s (KL:SSF) net profit down by more than half compared to a year ago. In 1QFY2025, it recorded a net profit of RM1.25 million, compared to RM2.65 million in the previous year’s corresponding quarter. Its revenue dropped by 18.5% to RM32.03 million from RM39.31 million in the same period last year. — SSF’s 1QFY2025 net profit more than halved amid softer consumer demand

United Malacca Bhd’s (KL:UMCCA) net profit rose by nearly five times to RM13.29 million for its first quarter ended July 31, 2024 (1QFY2025) from RM2.68 million a year earlier, thanks to higher contributions from its Malaysian operations. The surge in net profit came on the back of higher crude palm oil and palm kernel average prices. Revenue rose 20.54% year-on-year to RM163.88 million from RM135.95 million. It did not declare any dividend for the latest quarter. — United Malacca’s 1Q net profit surges on higher contributions from Malaysian operations

Agricultural and industrial chemicals manufacturer Ancom Nylex Bhd (KL:ANCOMNY) is acquiring a 70% stake in Colorex Sdn Bhd for RM14 million, cash. Colorex is principally involved in the business of blending and trading of chemicals, colours and related products. Colorex is one of the top three speciality chemical suppliers to the local automotive sector. It also serves other industries such as furniture, appliances and construction. The proposed acquisition comes with a profit guarantee that Colorex shall achieve a profit after tax of no less than RM2.5 million for two consecutive years. — Ancom Nylex acquires 70% stake in specialty chemical player Colorex for RM14m, cash