KUALA LUMPUR (Oct 9): Here is a brief recap of some business news and corporate announcements that made headlines on Wednesday: 

Sapura Resources Bhd (KL:SAPRES) is extending the leave of absence placed on its managing director Datuk Shahriman Shamsuddin for another month, according to sources. Shahriman, who together with his brother Tan Sri Shahril Shamsudin hold an indirect 51.47% in Sapura Resources, has been put on garden leave since Sept 11. He would have been on garden leave for one month by Thursday. — Sapura Resources to extend managing director Shahriman’s leave of absence for another month — sources

Souqa Fintech Sdn Bhd is mulling to take legal action against HeiTech Padu Bhd (KL:HTPADU), following the latter's decision to terminate a deal to subscribe to new shares in the fintech company. HeiTech Padu’s unit Synergy Grid Sdn Bhd had on Monday aborted a plan to acquire a block of shares, equivalent to a 30% stake, in Souqa Fintech that operates the payment gateway PayHalal for RM16.17 million. The proposal was announced by HeiTech’s board on Bursa Malaysia 10 days prior to that on Sept 27. — Souqa Fintech mulls suing HeiTech over aborted stake buy, dismisses claims of no board approval

Guan Chong Bhd (KL:GCB) is seeking to take up a 25% stake in Ivory Coast-based cocoa manufacturing outfit Transcao Côte d'Ivoire (Transcao CI). Guan Chong’s unit GB Cocoa Singapore Pte Ltd has inked a memorandum of understanding with Transcao CI’s shareholders — Conseil Du Café (CCC) and its subsidiary Transcao Negoce, which underline exclusive negotiation rights for three months. If it goes through, the deal will see Asia’s largest manufacturer of cocoa-derived food ingredients further extend its footprint into Ivory Coast, the world’s largest cocoa bean origin country whose annual cocoa bean production of two million tonnes accounts for 40% of global supply. — Guan Chong in exclusive talks to buy 25% stake in Ivory Coast cocoa outfit

Berjaya Food Bhd (KL:BJFOOD) has signed a master franchise agreement that would allow the company to exclusively operate Paris Baguette stores in Brunei and Thailand. The company has plans to open an unspecified number of stores across both markets by quarter three of 2025. Paris Baguette, which mainly sells French-inspired bakery products, is the flagship brand of South Korean food company SPC Group. — Berjaya Food signs agreement to exclusively operate Paris Baguette in Brunei, Thailand

Fuel retailer Petron Malaysia Refining & Marketing Bhd (KL:PETRONM) said its Port Dickson refinery in Negeri Sembilan will undergo an eight-week maintenance shutdown for furnace repairs. Despite the temporary closure, Petron assured that the supply of its petroleum products to Petron-branded petrol stations, liquefied petroleum gas customers, and commercial accounts will remain uninterrupted, ensuring no shortage in the market. — Petron Malaysia shuts down Port Dickson refinery for eight weeks for furnace repairs

Property developer Tropicana Corp Bhd (KL:TROP) has inked an agreement to dispose of 38.527 acres of freehold land in Johor to a data centre company for RM239.99 million, marking its second land sale for such development in the region this year. Tropicana Firstwide Sdn Bhd, the group's wholly owned subsidiary, has entered into a sales and purchase agreement with Computility Technology (Malaysia) Sdn Bhd for the asset disposal. Computility Technology is principally involved in the provision of infrastructure for hosting, data processing services and related activities. — Tropicana Corp sells another land in Johor to data centre operator for RM240 mil

SkyWorld Development Bhd (KL:SKYWORLD) and Perbadanan PR1MA Malaysia (PR1MA) have signed a joint development agreement to build PR1MA homes in Brickfields, Kuala Lumpur. The affordable housing comprises 491 units of apartments, where each unit will come with a built-up area of 900 sq ft. The project, known as SkyAwani Prima, will be built on a 1.97-acre leasehold land and will have a gross development value of RM191.49 million. — SkyWorld partners PR1MA to build 491 units of affordable homes in Brickfields

Construction firm Kumpulan Kitacon Bhd (KL:KITACON) has secured a contract worth RM64.05 million to undertake main building works for a proposed double-storey houses in Shah Alam, Selangor. Kumpulan Kitacon's wholly owned subsidiary Kitacon Sdn Bhd received the project from S P Setia Eco-Projects Management Sdn Bhd, a unit of property developer S P Setia Bhd (KL:SPSETIA). The project involves the development of Phase 3 of Arundina which consists of 130 units of double-storey semi-detached houses and a unit of Tenaga Nasional Bhd (KL:TENAGA) substation located specifically in Setia Alam. — Kitacon bags RM64 mil housing works project from S P Setia’s unit 

Home furniture specialist Ecomate Holdings Bhd (KL:ECOMATE) has proposed to acquire a single-storey factory in Muar, Johor, along with machinery and components, from SWS Capital Bhd (KL:SWSCAP). It is part of the company’s plans to establish a new factory and warehouse, while securing permanent premises to support its business expansion. Ecomate will be buying the factory, situated on 8,217 square metres of leasehold industrial land, for RM7 million, and pay another RM1.85 million for the machinery and components. — Ecomate to acquire factory, machinery in Muar to expand operations

Property developer LBS Bina Group Bhd (KL:LBS) has awarded renewable energy company Solarvest Holdings Bhd (KL:SLVEST) a contract to build a 43-MWp solar farm in Senawang, Negeri Sembilan, valued at RM104 million. The solar farm is owned by Suria Hijauan Sdn Bhd, a consortium comprising Setara Armada Sdn Bhd which holds a 51% stake, MWG Solar Energy Sdn Bhd (29%) and Ocean Solar Energy Sdn Bhd (20%). Setara Armada is a wholly owned subsidiary of LBS Bina. — LBS Bina awards RM104 mil solar farm construction to Solarvest

Atlan Holdings Bhd's (KL:ATLAN) net profit rose 5.27% for the second quarter ended Aug 31, 2024 (2QFY2025), driven by higher revenue contributions from all business segments. Net profit for 2QFY2025 came in at RM3.98 million or 1.57 sen per share, compared to RM3.78 million or 1.49 sen per share in 2QFY2024. Revenue rose by 12.26% to RM118.93 million, compared to RM105.94 million over the same period last year. Atlan also declared a second interim dividend of 3.75 sen per share. — Atlan pays lower dividend of 3.75 sen despite higher 2Q net profit