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

Compugates Holdings Bhd (KL:COMPUGT) has teamed up with property developer CPG Puncak Sdn Bhd to undertake a mixed-use development on a 14.5-hectare land in Cyberjaya with an estimated gross development value of RM1.36 billion. The joint venture (JV) agreement inked between the Compugates’ 70%-owned unit Compugates Development and Mining Sdn Bhd (CDMSB), which owns the 14.5-hectare land, and CPG is deemed a related party transaction as Compugates chief executive officer and substantial shareholder Goh Kheng Peow is the father of Compugates’ group general manager Keane Goh, who is also a shareholder and director of CPG. The group expects to record a pro forma net gain of RM83.3 million upon completion of the proposed JV, which is set to be completed over a 13-year period. — Compugates to jointly develop Cyberjaya land into RM1.36 bil GDV project

Vizione Holdings Bhd (KL:VIZIONE) slipped into the red with a net loss of RM79.68 million for the second quarter ended Nov 30, 2024 (2QFY2025), reversing from a net profit of RM213,000 a year ago, due to an RM80 million impairment of goodwill on consolidation of its shares during the quarter. Quarterly revenue fell 21.3% year-on-year to RM49.5 million from RM62.9 million, as the completion or near completion of several projects left the group without significant new project commencements. No dividend was declared by the construction player and property developer for the quarter. — Vizione slips into the red for 2Q due to RM80m impairment

DXN Holdings Bhd (KL:DXN) is terminating its plan to develop a medicine facility and a wellness centre due to a lack of progress and failure to achieve the expected benefits. The group had signed a memorandum of agreement with Persatuan Holistik dan Herba Malaysia (MMHO) in September 2023 for the establishment of the medicine facility, and a memorandum of understanding with European Wellness Centres Inc (EW) in October 2023 for the development of the wellness centre. DXN said it issued a 30-day termination notice to both MMHO and EW. — DXN scraps plans to develop medicine facility and wellness centre

Cypark Resources Bhd (KL:CYPARK) has achieved commercial operation date (COD) for its remaining 30MW floating solar plant at Danau Tok Uban (DTU), Kelantan. The plant, dubbed DTU1, is one of two 30MW solar installations at DTU. Its sister DTU2, with a 30MW capacity, achieved COD back on Jan 7. The project is Malaysia's largest floating solar installation, according to Cypark. — Cypark's floating solar farm achieves commercial operations for remaining 30MW

Citaglobal Bhd (KL:CITAGLB) signed a deal to buy a 1.58-acre land at Jalan Tun Razak from Bank Islam Malaysia Bhd (KL:BIMB) for RM73 million. The energy and construction outfit said it sees the purchase as a strategic opportunity for long-term value creation and growth, citing the increasing scarcity of sizeable and well-positioned commercial land in the city. Citaglobal said the land has been tenanted by TJM Sdn Bhd since August 2019. — Citaglobal to buy 1.6-acre land in KL for RM73 mil

AwanBiru Technology Bhd (KL:AWANTEC) is disposing of an eight-storey office and retail building in Cyberjaya to tenant Puncak Hartanah Intelek Sdn Bhd for RM25 million. The property disposal serves as part of the company’s plan to divest non-core assets, and improve its financial position and cash flow. Proceeds from the property sale will go mostly to fund the company’s working capital as well as repayment of a term loan tied to the property. — Awantec selling Cyberjaya office building for RM25m

Lebtech Bhd (KL:LEBTECH) has secured a RM21 million contract to develop 104 units of two-storey terraced houses in Seksyen U13, Shah Alam. The construction firm’s wholly owned subsidiary Lebtech Construction Sdn Bhd was awarded the contract from Brighton Land Sdn Bhd. The project commenced on Jan 28, and is expected to be completed within 18 months.  — Lebtech wins RM21m contract to build terraced houses in Shah Alam

Scomi Energy Services Bhd’s (KL:SCOMIES) executive director Amirul Azhar Baharom has resigned from his post “to pursue personal interest” with immediate effect. Amirul’s departure marks the latest exit in Scomi Energy’s board exodus. Independent non-executive chairman Raja Ahmad Murad Raja Bahrin retired on Dec 16 last year, followed by independent non-executive director Ruziah Mohd Amin's resignation on Jan 1. Non-independent non-executive director Wong Mun Keong resigned on the same day as Amirul. — Scomi Energy ED Amirul Azhar resigns as regularisation plan submission deadline looms