KUALA LUMPUR (Nov 11): Here is a brief recap of some corporate announcements and happenings that made the news on Monday.

CTOS Digital Bhd’s (KL:CTOS) net profit gained 13% to RM27.55 million for the third quarter ended Sept 30, 2024 (3QFY2024), from RM24.39 million a year ago, thanks to higher sales and better tax incentives. Its quarterly revenue reached an all-time high of RM79.81 million, up 20.1% from RM66.45 million in 3QFY2023, attributable to higher contribution from key segments — namely international, direct-to-consumer and commercial business. It declared a higher third interim dividend per share of 0.84 sen, compared to the 0.64 sen declared a year ago. For the first nine months of 2024 (9MFY2024), CTOS made a net profit of RM73.88 million, up 19% from RM62.1 million a year ago, as cumulative revenue grew 21.1% to RM228.03 million from RM188.29 million. CTOS group chief executive officer Erick Hamburger said the group sees abundant opportunities ahead as it continues to implement strategies to deepen customer penetration and enhance average revenue per user (ARPU) across all segments. — CTOS CEO sees 'abundant' opportunities as group logs 13% rise in 3Q profit with record high revenue

Construction services firm TCS Group Holdings Bhd (KL:TCS) is working with the developer and consultants to investigate cracks at the J Satine mixed development project. “The group is cooperating fully with the relevant authorities in their investigation into the cause of the incident,” TCS managing director Datuk Tee Chai Seng said in a statement. “Initial findings suggest that the building cracks are not caused by us.” The statement comes following news reports that the Kuala Lumpur City Hall (DBKL) has ordered a halt in all construction activities at the condominium project in Wangsa Maju. — TCS Group says investigating cracks at J Satine project

DXN Holdings Bhd’s (KL:DXN) substantial shareholder Gano Global Supplements Pte Ltd has trimmed its stake in the direct selling company to 8.79% after disposing of a 4.5% stake in a direct business deal. The company did not disclose the selling price, but Bloomberg data showed that the 4.5% stake, comprising 223.77 million shares, changed hands at 60 sen per share for a total of RM134.26 million. Gano Global, the investment vehicle of KV Asia Capital Pte Ltd, had originally acquired a 25.7% stake in DXN in 2017, according to DXN's 2024 annual report. — Substantial shareholder Gano Global trims stake in DXN

TMC Life Sciences Bhd (KL:TMCLIFE) has received special notices requisitioning for an extraordinary general meeting to immediately remove its group chief executive officer Wan Nadiah Wan Mohd Abdullah Yaakob as a director of the company from its two largest shareholders. The notices were received from Sasteria (M) Pte Ltd and the Regent of Johor, Tunku Ismail Sultan Ibrahim. Based on the group's annual report, Sasteria holds 70.13% in the company while Tunku Ismail owns 7.64%. Wan Nadiah has been suspended from her position as group CEO and as CEO of the group's subsidiary Thomson Hospitals Sdn Bhd since Jan 29 this year to "facilitate an internal disciplinary process" relating to six allegations of misconduct against her, which were later expanded to 15, based on two show-cause letters issued to her. The allegations, however, were never revealed by the group. — TMC Life Sciences gets requisition for EGM from major shareholders to remove suspended group CEO

Palm oil milling services provider Ecoscience International Bhd (KL:EIB) has bagged a RM200 million construction job to undertake a TG2 pellet plant in the Gebeng industrial area in Kuantan, Pahang. TG2 is a recycled industrial agricultural waste that is known as an environmentally sustainable replacement fuel for coal. Its unit Ecoscience Manufacturing & Engineering Sdn Bhd had accepted the letter of award issued by Wilhemina Energy Malaysia Sdn Bhd for the engineering, procurement and construction of the pellet plant. — Ecoscience bags RM200 mil job to build TG2 pellet plant in Pahang

Newly listed KTI Landmark Bhd (KL:KTI) has won a sub-contract under the Armed Forces Family Housing (RKAT) construction project at the Labuan Air Base, worth RM49.99 million. The sub-contract was awarded to Jawat Johan Sdn Bhd, and its tenure is 14 months, starting from Nov 25. This marks the second award received by KTI as the industrialised building system specialist sub-contractor for the RKAT project. — KTI Landmark wins RM50m sub-contract in Labuan

Destini Bhd (KL:DESTINI) has secured a contract worth RM33.05 million from the Ministry of Defence (Mindef) for comprehensive maintenance services for airborne safety and survival equipment. The three-year contract begins on Nov 11, 2024, and will extend through to Nov 10, 2027. — Destini bags Mindef contract worth RM33m

Construction firm Azam Jaya Bhd (KL:AZAMJAYA), which debuted on the Main Market of Bursa Malaysia on Monday, said it is eyeing growth beyond its home base, naming Sarawak and Kalimantan as potential markets. Its ED Datuk Jessica Lo Vun Che said the company expects Sabah to remain as its core market, adding that “there is a lot more to do”. “I think because there’s a lot more to do in Sabah itself, not just the Pan Borneo Highways, it’s also the rural road packages and all that. “But I think we can go beyond that, especially down to Kalimantan and maybe to the neighbouring countries and all that, or even to international,” she said. In addition, it will tender for additional phases of the construction of the RM29 billion Pan Borneo Highway project. — Azam Jaya eyes growth beyond home base, names Sarawak and Kalimantan as potential markets

Security seal manufacturer Mega Fortris Bhd (KL:MEGAFB) sees minimal impact from the potential implementation of a blanket tariff of up to 10% on its products in the US, which is currently the group’s second largest market, under President-elect Donald Trump. It has been exporting its products to the US market “for many years and is accustomed to navigating multi-jurisdictional taxes”, including similar tariffs in Europe and other markets, its CEO Datuk Adrian Ng said during a press conference in conjunction with the company’s listing on the Main Market of Bursa Malaysia. To further reduce exposure to tariff risks, Mega Fortris is also exploring plans to decentralise its pricing strategy and potentially establish a production facility in the US. — Minimal impact on Mega Fortris from potential US tariff hike, says CEO