KUALA LUMPUR (Dec 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Sime Darby Property Bhd (KL:SIMEPROP) has signed an agreement for a 20-year lease of data centre facilities to Pearl Computing Malaysia Sdn Bhd for up to RM5.6 billion, beginning as early as 2027. The property group is currently developing the additional data centre facilities at its 77-acre site at Elmina Business Park — which it described as Klang Valley’s largest freehold industrial business hub. The deal is also in line with Sime Darby Property’s strategy to increase its recurring income, and expand its investment and asset management (IAM) segment’s assets under management. The IAM segment contributed RM95.83 million or just under 3% of its RM3.27 billion revenue in the nine months ended Sept 30, 2024. — SimeProp inks data-centre lease agreement worth up to RM5.6b

Yinson Holdings Bhd’s (KL:YINSON) 49%-owned joint venture with PetroVietnam Technical Service Corp (PTSC) has executed a provision, charter, operation and maintenance contract with a unit of Murphy Oil Corp for a floating, storage and offloading vessel in Vietnam. The 500,000 barrels of oil equivalent capacity FSO, to be built for operations from 4Q2026, will be chartered for a firm period of 10 years. The contract comes with options to extend for up to five years, it said. In total, the contract has a value of up to US$416 million (RM1.8 billion). The two parties, through joint ventures, have been operating FSO PTSC Bien Dong 01 since 2013, and the floating production storage and offloading vessel PTSC Lam Son since 2014. PTSC Lam Son has a bare boat charter contract until the end of this year, while PTSC Bien Dong 01 has a firm charter until mid-2028, with options to extend up to 2033. — Yinson JV to build new FSO vessel for charter by Murphy Oil unit in Vietnam

T7 Global Bhd (KL:T7GLOBAL) won a contract from Jadestone Energy (M) Pte Ltd for the provision of Pan-Malaysia maintenance, construction, modification (MCM) and hook-up and commissioning (HUC) services for Package B3. The contract, won by T7's wholly-owned unit Tanjung Offshore Services Sdn Bhd, commenced from Oct 17 and will last five years until Oct 16, 2029. For T7, this is its third such contract having received two similar five-year awards, namely one from ExxonMobil Exploration and Production Malaysia Inc for Package B2 (Guntong), and another from IPC Malaysia BV for Package B3. — T7 wins third Pan Malaysia contract with Package B3 from Jadestone Energy

Pesona Metro Holdings Bhd (KL:PESONA) has secured a RM181.8 million contract for the construction of two blocks of 28-storey condominiums  in Cyberjaya. The developer of the project, comprising 606 units of condominiums on Persiaran Semarak Api in Cyber 11, is Lakefront Residence Sdn Bhd, a wholly-owned subsidiary of Avaland Bhd (KL:AVALAND). As of end-September, the group had an outstanding order book of RM2.3 billion, comprising nine ongoing projects. — Pesona Metro bags RM182m condo construction job in Cyberjaya

Datasonic Group Bhd (KL:DSONIC) has clinched two contract extensions worth a combined RM81.24 million from the Home Ministry. The first extension, valued at RM21.39 million, inclusive of 8% sales and service tax (SST), covers comprehensive maintenance services for card personalisation centres at the National Registration Department (JPN). The second contract extension, valued at RM59.85 million and exempt from SST, involves the supply of MyKad, MyTentera, MyPOCA raw cards and consumables for JPN. — Datasonic secures RM81.2m contract extensions from Home Ministry

Willowglen MSC Bhd (KL:WILLOW) has clinched a RM79.2 million contract from Singapore’s Public Utilities Board. The contract was awarded to its wholly-owned subsidiary Willowglen Services Pte Ltd. It involves the supply, design, installation and commissioning of supervisory control and data acquisition (SCADA) and telemetry systems, alongside construction and maintenance services. Set to commence on Dec 23, 2024 and conclude on June 22, 2032, this eight-year contract is expected to deliver steady revenue growth and strengthen Willowglen’s financial position, contributing positively to earnings in 2025 to 2032. — Willowglen MSC bags RM79.2 mil contract from Singapore's Public Utilities Board

CapitaLand Malaysia Trust (KL:CLMT) has entered into an agreement to acquire its first automated logistics property, Elmina Logistics Hub, for RM180 million — expected to be completed in the first half of 2025. Among others, it has 19 loading bays with hydraulic dock levelers and a storage capacity for 30,000 pallets. The freehold property will be fully leased to Projek Tetap Teguh Sdn Bhd, a subsidiary of PTT Synergy Group Bhd, for 10 years upon completion. The lease, which includes built-in rent escalations, is expected to generate a gross annual rent of RM12.3 million, offering a first-year gross yield of about 6.8% and brings CLMT’s portfolio to 11 properties, increasing the proportion of logistics and industrial assets to 6% from 3% of its total portfolio under management. — CapitaLand Malaysia Trust acquires automated logistics property for RM180 mil

Annum Bhd (KL:ANNUM), a Practice Note 17 (PN17) company, said it will work closely with its potential external auditor to resolve opening balance issues during the subsequent audit for the financial year ending Dec 31, 2024 (FY2024). This follows an independent assessment by Parker Russell, conducted in response to concerns raised by the company’s previous external auditor, SBY Partners PLT, which issued a disclaimer of opinion in Annum's audited financial statements for the 18-month period ended June 30, 2023. The disclaimer of opinion contributed to Annum, formerly known as Cymao Holdings Bhd, being classified as a PN17 company in May this year.  The wood products manufacturer now has a five-month deadline to submit its regularisation plan. — Annum says will work closely with potential auditor to resolve opening balance issues

Sunway Bhd (KL:SUNWAY) founder and executive chairman Tan Sri Jeffrey Cheah Fook Ling and his private vehicle Sungei Way Corp Sdn Bhd have sold a combined total of 100 million shares in the diversified company for RM485 million or RM4.85 per share. Cheah sold 50 million shares, reducing his direct stake in Sunway to 9.98% from 10.97% previously. Sungei Way Corp, which Cheah controls alongside his daughter Sarena Cheah Yean Tih and son Evan Cheah Yean Shin, also disposed of 50 million shares. Following the transaction, Sungei Way's stake in Sunway dropped to 44.08% from 45.41%. Earlier this year, the founder of Sunway sold a portion of his shares while Sungei Way Corp placed out 150 million shares in January at RM2.30 per share and 200 million shares in May at RM3.52 per share. — Jeffrey Cheah, private vehicle offload 100 mil shares in Sunway for RM485 mil