KUALA LUMPUR (Oct 31): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

FGV Holdings Bhd (KL:FGV) has appointed Fakhrunniam Othman as group chief executive officer of the plantation group effective Nov 1. Fakhrunniam, 57, is currently the group divisional director of FGV’s logistics and support division, a position he has held since Jan 1, 2023. — FGV names Fakhrunniam Othman as new group CEO

Datuk Shahriman Shamsuddin, managing director of property and aviation outfit Sapura Resources Bhd (KL:SAPRES), has tendered his resignation with immediate effect, having been put on garden leave for nearly two months. Shahriman, who together with his brother Tan Sri Shahril Shamsudin hold an indirect 51.5% in Sapura Resources, had been put on garden leave since Sept 11, as the company initiated investigations against him. Sapura Resources said Shahriman has also resigned as director of the company, relinquishing directorship of the company's subsidiaries, including SRB One Sdn Bhd, Aero Handlers Sdn Bhd, Aerodome Services Sdn Bhd and Sapura Technics Sdn Bhd, which is currently under winding-up proceedings by the court. — Sapura Resources MD Shahriman Shamsuddin quits, having been on garden leave since Sept 1

Stock exchange operator Bursa Malaysia Bhd (KL:BURSA) reported its highest quarterly net profit in three years, thanks to higher income across its business segments, including the securities and derivatives market. Net profit for the three months ended Sept 30, 2024 (3QFY2024) surged 41.93% year-on-year to RM85.74 million. Revenue for the quarter climbed 33.11% to RM211.26 million — also the highest in three years — from a year earlier. Bursa Malaysia did not declare any dividend during the quarter under review. — Bursa Malaysia’s net profit surges to three-year high in 3QFY2024

British American Tobacco (Malaysia) Bhd (KL:BAT) posted a 14.1% rise in its net profit for the third quarter ended Sept 30, 2024 (3QFY2024), as its operating expenses were significantly reduced by 28.9% year-on-year (y-o-y), following the group’s substantial investment in the launch of its vaping brand, Vuse, in Malaysia last year. Net profit for 3QFY2024 stood at RM67.91 million, compared with RM59.54 million a year earlier. Quarterly revenue rose by a marginal 0.5% to RM609.95 million from RM606.8 million in 3QFY2023, on the back of a 3.3% y-o-y increase in volume, a better product mix and increased sales from vapour products. The group declared a third interim dividend of 22 sen per share, amounting to RM62.8 million, for FY2024, payable on Nov 27. — BAT Malaysia’s 3Q net profit up 14%, pays 22 sen dividend

Sunway Construction Group Bhd (KL:SUNCON) has been awarded additional tenant improvement works (TIWs) for its data centre construction project at the Sedenak Tech Park in Johor for RM347 million. The contract was awarded by Yellowwood Properties Sdn Bhd, which raised the contract amount from RM3.2 billion initially, to RM3.5 billion now. It also said the completion date for the contract remains unchanged, with all phases of both the notice to proceed (NTP) works and TIWs scheduled for completion by February 2026. — SunCon wins additional RM347m data centre works in Johor

Duopharma Biotech Bhd (KL:DPHARMA) has secured five additional supply contracts from Pharmaniaga Bhd (KL:PHARMA), totalling RM87.66 million, to provide 10 pharmaceutical and non-pharmaceutical products to government offices and facilities that Pharmaniaga operates. Pharmaniaga’s wholly-owned subsidiary Pharmaniaga Logistics Sdn Bhd awarded four letters of offer (LOOs) to Duopharma (M) Sdn Bhd, and one LOO to Duopharma Manufacturing (Bangi) Sdn Bhd. All additional contracts will remain valid and binding until Dec 31, 2026, or any other date specified by the government. — Duopharma secures RM87m additional supply contracts from Pharmaniaga

Haily Group Bhd (KL:HAILY) has secured a contract worth RM65 million for the construction and completion of a housing project in Tebrau, Johor. This comprises 206 units of double-storey terrace houses and one power substation. The contract was secured through its wholly-owned subsidiary Haily Construction Sdn Bhd on Wednesday, which had accepted the letter of award for the project from Akipro Architect Sdn Bhd, on behalf of Austin Senibong Development Sdn Bhd. — Haily bags RM65 mil housing construction job in Johor

Utilities engineering services firm MN Holdings Bhd (KL:MNHLDG) has secured a RM63 million contract from Tenaga Nasional Bhd (KL:TENAGA) to develop a battery energy storage system (BESS). The contract was awarded to MN Holdings’ wholly-owned MN Power Transmission Sdn Bhd. Under the contract, MN Holdings will carry out the extension of a new 1 x 132-kilovolt (kV) overhead line BESS interconnection facilities bay for TNB, at its existing transmission main intake 132/11kV Santong (air insulated switchgear, or AIS). — MN Holdings secures RM63m contract from TNB for energy storage development

Deleum Bhd's (KL:DELEUM) 86.67%-owned indirect subsidiary Deleum Technology Solutions Sdn Bhd (DTS) has bagged two contracts for the provision of Pan Malaysia offshore maintenance, construction, modification (MCM) and hook-up commissioning (HUC) services. The contract value was not disclosed. Deleum said the contracts are for Package A1 - Peninsular Malaysia Asset (PMA), which is oil-related, and Package A4 - Sarawak Asset (SKA), which is gas-related. The two contracts were awarded by Petronas Carigali Sdn Bhd to DTS. The scope of works includes the provision of manpower, tools and equipment, materials, consumables and other related services. — Deleum unit wins two Petronas jobs for Pan Malaysia services

YTL Power International Bhd (KL:YTLPOWR) is “seeking legal advice regarding potential steps” against unnamed parties that it said are spreading accusations of misconduct by the company in the 1Bestarinet project currently under investigation. In a statement, YTL Power said its 60%-owned YTL Communications Sdn Bhd, which was involved in the project, will continue to provide full cooperation to the Malaysian Anti-Corruption Commission on the investigations. “To the best of our knowledge, we have not breached any contractual terms, nor violated any laws,” the company also clarified, referring to the contract won by the group in November 2011 to provide internet access and virtual learning system in up to 10,000 schools. — YTL Power mulls action over 1Bestarinet ‘accusations by irresponsible parties’, says ‘committed to transparency’ in MACC probe