KUALA LUMPUR (Jan 27): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Bursa Malaysia Bhd's (KL:BURSA) net profit for the fourth quarter ended Dec 31, 2024 (4QFY2024) rose 15.7% to RM68.90 million from RM59.55 million in 4QFY2023 on improved performance in its securities and derivatives markets. Revenue for the quarter rose 18.7% to RM185.91 million from RM156.68 million in 4QFY2023. Bursa declared a dividend of 26 sen for the quarter, which comprised a final dividend of 18 sen per share and a special dividend of eight sen per share, payable on Feb 25. — Bursa Malaysia's profit jumps 16% in 4Q, declares 26 sen dividend

The local stock exchange operator is targeting a total of 60 new listings this year, exceeding last year's record of 55 initial public offerings (IPOs). — Bursa eyes 60 IPOs for FY2025 including MMC Port, but marginally lower PBT growth amid global uncertainty

Meanwhile, Bursa also announced that it has appointed Datuk Fad’l Mohamed as its new chief executive officer, effective from March 1, with the retirement of Datuk Muhamad Umar Swift, who has served as the CEO since February 2019. — Bursa names RHB wholesale banking MD Fad’l Mohamed as new CEO as Umar Swift retires

DXN Holdings Bhd's (KL:DXN) net profit for the third quarter ended Nov 30, 2024 (3QFY2025) increased 18.4% to RM92.78 million from RM78.36 million in 3QFY2024 on higher revenue from the Latin American and Middle Eastern markets. Revenue rose 8% to RM486.09 million versus RM450.29 million a year earlier. DXN declared a dividend of one sen per share for the quarter, payable on March 7. — DXN's 3Q profit up 18.4% on higher revenue from overseas markets, declares one sen dividend

The deadline for AirAsia X Bhd’s (KL:AAX) proposed RM6.8 billion acquisition of Capital A Bhd’s (KL:CAPITALA) short-haul aviation business — AirAsia Bhd and AirAsia Aviation Group Ltd — has been extended by two months. The mutually agreed extension moves the completion deadline to March 24, from the original date of Jan 25, in order to allow both companies to finalise the deal. AAX chief executive officer Benyamin Ismail said the extension is a pragmatic step to ensure all aspects of the exercise are thoroughly and meticulously addressed, including securing final approvals and consents from relevant authorities, financiers, and lessors — most of which he noted to have been already "substantially completed". — Deadline for AAX takeover of Capital A’s aviation biz extended by two months to March 24

Ekovest Bhd (KL:EKOVEST) and Knusford Bhd (KL:KNUSFOR) have agreed to have another six months to discuss a merger deal worth RM450 million. The extension, moving the deadline from Jan 28 to July 27, 2025, marks the third extension since Ekovest initially entered into a binding heads of agreement in October 2023. Ekovest explained that the latest extension would allow both parties to further assess, evaluate, and negotiate the detailed terms of the merger. — Ekovest extends unit merger talks with Knusford for six more months

Prolintas Managers Sdn Bhd, the trustee-manager of Prolintas Infra Business Trust (KL:PLINTAS), clarified that two individuals charged with corruption linked to its sponsor Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) are not related to the operations of the business trust. Prolintas Managers said the individuals — Prolintas chief operating officer Rostam Shahrif Tami and project manager Zairulnizam Rohani — "are affiliated with Turnpike Synergy Sdn Bhd, which is in charge of the construction of the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE), which is unrelated to our operations, as the project is not part of Prolintas Business Trust". — Prolintas Infra Business Trust distances itself from graft cases involving sponsor Prolintas' COO, project manager

Crescendo Corp Bhd (KL:CRESNDO) is selling a 22.55-acre piece of land in Pulai, Johor, to Microsoft for RM119.83 million. The company said the disposal provides the group the opportunity to unlock the land’s value and generate cash flow for the group’s development projects. This is the third land deal Crescendo has undertaken with Microsoft in Johor since last year. The group completed RM132.47 million and RM115.88 million land sales to the tech giant in May and September last year respectively. — Crescendo sells third parcel to Microsoft for RM119.8 mil in Johor

Icon Offshore Bhd (KL:ICON) received its shareholders’ nod to change its name to Lianson Fleet Group Bhd, along with the RM403.5 million acquisition of equity stakes in vessel operating companies, including from its largest shareholder Liannex Corp. The acquisitions approved comprise the entire equity interest in Liannex Pte Ltd from Liannex for RM182 million; 51% in Yinson Power Marine Sdn Bhd from Lim Han Weng for RM18 million; 70% in Regulus Offshore Sdn Bhd from Yinson Offshore Services Sdn Bhd for RM136 million; 100% in Yinson Camellia Sdn Bhd also from Yinson Offshore Services for RM24 million; 49% in Icon Bahtera (B) Sdn Bhd with non-convertible redeemable preference shares from Siti Nurul Hameezah Awang and Siti Salina Masri for RM33.7 million; and 15% in Icon Waja (L) Inc from Zell Transportation for RM9.8 million. — Shareholders greenlight Icon Offshore’s vessel ops buy, name change to Lianson Fleet Group

Bina Puri Holdings Bhd (KL:BPURI) said the company does not expect “any significant financial and operational impact” from the RM28.17 million lawsuit by Wisma Majujaya Sdn Bhd in relation to a joint venture agreement (JVA) to develop a project in Johor. Bina Puri said its board is of the opinion that the company has a “fair and reasonable chance of success" in the suit. The suit revolves around a RM28.17 million sum in unpaid returns stipulated in the JVA plus interest Wisma Majujaya alleges Bina Puri failed to pay it and the company is thus claiming for. — No ‘significant financial impact’ expected from Majujaya suit, says Bina Puri

YNH Property Bhd (KL:YNHPROP) announced that the independent review of its joint venture (JV) and turnkey contracts, conducted by Messrs UHY, is expected to be completed and issued by Feb 15, 2025. YNH had appointed UHY in June 2024 to conduct an independent review of certain JV and turnkey contracts undertaken by its wholly owned unit, Kar Sin Bhd. The move followed a qualified opinion issued by its former statutory auditor, Baker Tilly Monteiro Heng PLT, regarding payments totalling RM1.1 billion related to these contracts in the 18 months ended June 30, 2023. — YNH Property expects independent review of JV and turnkey contracts to be completed by Feb 15

MMAG Holdings Bhd (KL:MMAG) announced it is acquiring a second Boeing B737-400SF aircraft from Japan-based JPA No 161 Co Ltd (JPA) for US$6.55 million (RM29.12 million) in cash. This marks the second Boeing B737-400SF aircraft acquisition by MJets Air from JPA, a wholly-owned subsidiary of JP Lease Products & Services Co Ltd (JLPS), one of Japan’s largest independent tax lease arrangers. Last December, MJets Air acquired the first aircraft from JPA for RM20.76 million, also paid in cash. — MMAG buys another aircraft from Japan-based JPA for RM29.12m

Sarawak Consolidated Industries Bhd (KL:SCIB) has denied allegations by Awana JV Suria Saga Sdn Bhd, the developer of the previously scrapped RM162 million Perak housing project, regarding outstanding debts and demanded the latter to settle the debt promptly. SCIB said that Awana’s refusal to comply with repayment obligations constitutes a breach of their settlement agreement dated July 6, 2023. As a result, the company, through its wholly owned subsidiary SCIB Properties Sdn Bhd (SCIBP), is exercising its right to terminate the agreement due to this breach and formally demanded Awana settle the total indebtedness of RM19.72 million together with any interest due within 14 days or risk legal action. — SCIB denies developer's allegations over debt repayment, demands debt settlement

Unitrade Industries Bhd (KL:UNITRAD) clarified that its 51%-owned Intergreen Metal Sdn Bhd's acquisition of a controlling stake in metal recycling specialist Kien San Metal Sdn Bhd for RM42 million will be financed via a combination of capital injection to Intergreen by its shareholders, and Unitrade's own internal funds. Unitrade plans to pump RM9.18 million into Intergreen — reflecting its 51% stake in the company — while Intergreen's minority shareholders will contribute RM8.82 million. This will expand Intergreen's paid-up capital by RM18 million — from RM2 million — to RM20 million. The remaining RM24 million required for the acquisition will be sourced from Unitrade's internal funds. — Unitrade clarifies funding sources for subsidiary's RM42m acquisition of metal recycler

Symphony Life Bhd (KL:SYMLIFE) has emerged as the largest shareholder of Vizione Holdings Bhd (KL:VIZIONE) with a 25.88% stake, after subscribing to the entire private placement by Vizione. Based on the enlarged share base of 552.53 million shares following the completion of the private placement exercise, Vizione's substantial shareholder hospital bed maker LKL International Bhd (KL:LKL) would have a stake of 9.05%, followed by Woo Swee Lian, Woo Yi Ming and Woo Yi Xuan, who would collectively control 6.13% of the company.

Proceeds from the exercise were earmarked to fund Vizione's RM490 million construction job awarded by Hardie Development Sdn Bhd and a RM524.61 million affordable apartment development in Putrajaya. — Symphony Life emerges as Vizione’s largest shareholder in RM12m deal