KUALA LUMPUR (Oct 21): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Dagang NeXchange Bhd (KL:DNEX) has appointed Faizal Sham Abu Mansor as its group chief executive officer effective Nov 1, succeeding executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir Jamalullail in leading the company's management team. Faizal, 53, had previously served as executive director and group chief financial officer (CFO) at Vantage Energy Group, CFO of Malaysia Airports Holdings Bhd (KL:AIRPORT) as well as CEO of Astro Productions and Astro Awani. Meanwhile, Syed Zainal Abidin, 62, will continue to lead the management team until Dec 31, after which he will be redesignated as non-executive chairman. — DNeX appoints Faizal Sham Abu Mansor as group CEO

PTT Synergy Group Bhd (KL:PTT) had signed a 10-year build and lease agreement to provide a fully automated warehouse for RM399.7 million. The agreement was signed between PTT Synergy’s wholly-owned subsidiary, Projek Tetap Teguh Sdn Bhd, and a multinational corporation semiconductor maker based in Penang. The company said it is not naming the MNC because of a non-disclosure agreement. The purpose-built warehouse has a gross built-up area of 416,572.18 sq ft and PTT Synergy is required to provide an automated storage and retrieval system with a capacity of 47,320 pallets. — PTT Synergy to build and lease automated warehouse to multinational firm for RM399.7 mil

MyEG Services Bhd (KL:MYEG) and HeiTech Padu Bhd (KL:HTPADU) said they have commenced a partnership for current and future e-government projects in Malaysia in which either one party is involved. The partnership is consequent to a teaming agreement signed in April, the two companies said in a joint statement. The announcement of the partnership commencement comes days after Heitech announced last Friday (Oct 18) that it had won the National Integrated Immigration System project from the Immigration Department, valued at RM892.2 million. — MyEG, HeiTech affirm collaboration in current and future e-government projects

Facilities and waste management services company AWC Bhd (KL:AWC) has secured a RM30.51 million contract to undertake housekeeping services for the JB Sentral building in Johor Bahru. The contract, awarded by KCJ Engineering Sdn Bhd, is valid for four years and six months. With this latest contract, AWC’s order book stands at over RM700 million, while its tender book has exceeded RM1 billion across all business divisions. — AWC bags housekeeping services job in JB Sentral

Candy maker Khee San Bhd (KL:KHEESAN) said its shareholders have approved the company's regularisation plan to exit Practice Note 17 (PN17) status. All eight resolutions relating to the regularisation plan were passed at an extraordinary general meeting on Monday. The regularisation plan includes a proposed rights issue with warrants, a scheme of arrangement with creditors, a share capital reduction and the establishment of an employee share scheme of up to 15% of its share base for eligible directors and employees. With the rights shares priced at 10 sen each, the exercise is expected to raise between RM65 million on a minimum subscription basis and RM96.1 million under a maximum scenario. From the amount raised, RM51.2 million will be allocated to settling amounts owed to scheme creditors. In addition, Khee San will also undertake a RM137.52 million capital reduction to its share capital. — Khee San gets shareholders’ nod for regularisation plan to exit PN17

KIP Real Estate Investment Trust (KL:KIPREIT) reported a 3% decrease in its net profit to RM10 million for the first quarter ended Sept 30, 2024 (1QFY2025), from RM10.39 million, dragged by higher operating expenses, as well as higher manager's management fee and borrowing cost. For 1QFY2025, the REIT declared a distribution of 1.52 sen per unit, slightly lower than the 1.55 sen per unit declared a year ago. The distribution will be payable Nov 26, 2024. For the reporting period, KIP REIT’s quarterly revenue grew 19.2% to RM26.7 million from RM22.4 million a year ago, underpinned by higher revenue in its retail segment, specifically the contribution from KIPMall Kota Warisan that was acquired in February 2024. — KIP REIT's 1Q profit falls 3%, weighed down by higher costs and fees

CIMB Thai Bank PCL, in which CIMB Group Holdings Bhd (KL:CIMB) owns a 94.83% stake, saw its net profit for the third quarter ended Sept 30, 2024 surge by 62.1% to 595.67 million baht (RM76.77 million) from 367.42 million baht (RM47.33 million) in the same quarter a year ago, thanks to gains on financial instruments and higher operating income. Gains on financial instruments came in at 514.64 million baht versus a loss of 64.06 million baht last year, while gains on investments dropped 67.9% to 62.22 million baht compared to 193.88 million baht. Total operating income rose 18.4% to 3.75 billion baht from 3.17 billion baht. CIMB Thai’s expected credit losses rose to 708.10 million baht as compared to 502.48 million baht a year earlier. — CIMB Thai’s 3Q net profit up 62% y-o-y on gains from financial instruments, operating income

Alpha IVF Group Bhd (KL:ALPHA) reported a 2.7% quarter-on-quarter increase in its first quarter net profit to RM14.38 million from RM14 million, as lower administrative expenses more than offset impact from decline in revenue. For the first quarter ended Aug 31, 2024, the fertility care specialist's revenue fell 8% to RM43 million, from RM46.75 million in the preceding quarter. There are no year-on-year comparative figures as the company was newly listed in March 2024.  Alpha IVF has declared a third interim dividend of 0.45 sen per share, bringing total dividend year-to-date to 1.15 sen per share. — Alpha IVF 1Q profit up marginally q-o-q on lower administrative expenses