KUALA LUMPUR (Feb 5): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

KLCCP Stapled Group’s (KL:KLCC) net profit for the fourth quarter ended Dec 31, 2024 (4QFY2024) rose 12% to RM430.91 million from RM384.59 million a year earlier, driven by full ownership of the Suria KLCC Mall and higher fair value gains. Revenue increased 3.72% to RM459.1 million from RM442.63 million, thanks to higher rental rate revision and improvement in occupancy rate to 99% from 97%. The group declared a fourth interim dividend of 17.1 sen per stapled security, payable on Feb 28. This brings the group's total dividend payout for FY2024 to 44.5 sen per stapled security — a record high since listing in 2013 and a 9.9% increase from 40.5 sen in FY2023. Net profit for FY2024 as a whole rose 9.15% to RM1.02 billion from RM931.29 million in FY2023, as revenue rose 5.66% to RM1.71 billion from RM1.62 billion. — KLCCP Stapled Group’s 4Q net profit up 12%, delivers record dividend payout

Gamuda Bhd (KL:GAMUDA) has signed an exclusive agreement with the Perak government to facilitate raw water transfer from Sungai Perak to Bukit Merah and develop the requisite infrastructure for treated water distribution, ensuring long-term water. The parties will proceed with an official joint venture at a later stage. Under the agreement, both parties will jointly manage all components of the water infrastructure, including overseeing the design, civil and structural engineering, utilities, risk mitigation and the implementation of local workforce and technology training programmes. — Gamuda signs exclusive agreement with Perak state agency to develop water infrastructure

ITMAX System Bhd’s (KL:ITMAX) 65%-owned subsidiary Southmax Sdn Bhd has secured another contract in Johor to operate an outdoor parking system in the Pontian district. The appointment took effect from Feb 1, 2025 and spans 15 years. The contract value was not disclosed. Southmax will operate on a revenue-sharing model and will receive 70% of the revenue generated from parking collections and parking compounds while the remaining 30% will accrue to the Pontian Municipal Council, the local authority that administers the district. — ITMAX gets another parking system contract in Johor

CapitaLand Malaysia Trust (KL:CLMT) is buying three industrial properties located in the Senai Airport City for RM72 million from Gromutual Bhd’s subsidiary Rainbow Entity Sdn Bhd. The acquisition is conditional upon the vendor, Rainbow Entity, completing the construction of the three factories at its own cost and obtaining the necessary approvals and the issuance of the Certificate of Completion and Compliance before April 30, 2025. Upon completion, CLMT will enter into a seven-year lease agreement with a tenant that is in the life sciences industry and listed on the Shanghai Stock Exchange STAR Market for one of the three properties. When the three properties are fully leased, CLMT is expected to generate an annual gross rent of RM5.1 million, with a first-year gross yield of approximately 7.1%. — CapitaLand Malaysia Trust buys three industrial properties in Senai for RM72m

YTL Corp Bhd’s (KL:YTL) Singapore-listed industrialised building systems (IBS) unit NSL Ltd has received a four-month extension until June 6 to adhere to the Singapore Exchange's (SGX) 10% public shareholding requirement. In October last year, YTL Cement Bhd, a unit of YTL Corp, bought an 81.24% stake in NSL for S$227.61 million (RM792.32 million), or 75 cents (RM2.61) apiece, from 98 Holdings Pte Ltd to expand its IBS business. The stake purchase triggered a mandatory unconditional cash offer for the remaining NSL shares at the same price. In the offer document, YTL Cement announced its intention to maintain NSL’s listing on SGX. At the offer’s close on Nov 8, 2024, YTL Cement, together with persons acting in concert, controlled a 91.02% stake in NSL. — YTL Corp’s SGX-listed unit NSL gets four-month extension to address public shareholding spread

Citaglobal Bhd (KL:CITAGLB) has no immediate plan to develop the 1.58-acre land at Jalan Tun Razak, Kuala Lumpur that it intends to acquire from Bank Islam Malaysia Bhd (KL:BIMB) for RM73 million. It said this strategic approach is to maximise long-term value creation of the land. Independent valuer Infra Harta Consultants Sdn Bhd ascribed an indicative market value of the land at RM70 million on an ‘as-is’ basis and RM138 million on an assumption basis — assuming it is approved for mixed commercial development, the current express condition is revoked, and the lease period is extended to 99-year leasehold tenure. — Citaglobal: No immediate plan to develop RM73 mil land on Jalan Tun Razak

Hextar Industries Bhd’s (KL:HEXIND) independent non-executive chairman Datuk Chan Choun Sien has stepped down from his post “due to other commitments”. The 54-year-old was redesignated as chairman in October 2018, back when the group was called SCH Group Bhd. — Hextar Industries chairman Chan Choun Sien resigns