KUALA LUMPUR (Feb 10): Here is a brief recap of some corporate announcements that made news on Monday:

TMC Life Sciences Bhd (KL:TMCLIFE) sank into the red with a net loss of RM947,000 in the second quarter ended Dec 31, 2024 (2QFY2025), from a net profit of RM14.52 million a year ago, dragged by termination and discount of customer contracts. This marks its first quarterly loss in 18 quarters — since its RM4.3 million net loss in the three months ended May 31, 2020. The quarterly loss came in as revenue fell 14.2% to RM80.43 million as compared to RM93.78 million in 2QFY2024. The quarterly loss dragged earnings for the six months ended Dec 31, 2024 to RM1.99 million versus RM29.66 million a year earlier, on revenue of RM162.39 million as compared to RM186.22 million. — TMC Life Sciences falls to 2Q loss on contract issues as previously flagged

Separately, TMC named Datuk Adzuan Abdul Rahman as the group’s new CEO effective immediately. Adzuan’s appointment as group CEO follows the dismissal of predecessor Wan Nadiah Wan Abdullah Yaakob in December 2024 over alleged misconduct in the since-terminated contracts with two insurers, as well as the entry into an agreement with T-Systems Malaysia Sdn Bhd. Melvin Heng Jun Li, who has been acting as the CEO, is redesignated as non-independent non-executive director. — TMC Life Sciences names Adzuan Abdul Rahman as new CEO

Biscuit maker Hup Seng Industries Bhd (KL:HUPSENG) sustained its record earnings streak in the fourth quarter of 2024, with net profit rising 26.74% year-on-year to RM17.34 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), marking its highest since listing in 2000. It posted a net profit of RM13.68 million a year earlier. The commercial operation of its new oven, which commenced in the third quarter, contributed to increased production capacity, resulting in higher sales. Quarterly revenue surged 23.09% to a record RM117.12 million from RM95.15 million in 4QFY2023, supported by stronger domestic and export market contributions. The company, known for its Cap Ping Pong crackers, did not declare any dividend during the quarter. It closed FY2024 with a record net profit of RM57.61 million, up 27.78% from RM45.09 million in FY2023. This increase was attributed to lower input costs for key materials during the first three quarters. Full-year revenue grew 10.65% to RM395.35 million from RM357.27 million, driven by higher sales volume. — Biscuit maker Hup Seng maintains record earnings streak in 4Q on higher sales

MGB Bhd (KL:MGB) — in which LBS Bina Group Bhd (KL:LBS) owns a 57.7% stake —  has secured a contract worth RM194.72 million to undertake the construction of a 22-storey serviced apartment in Cameron Highlands in a related-party transaction. This raises the construction and property developer’s outstanding order book to RM1.27 billion. MGB said the contract was awarded to its unit MGB Construction & Engineering Sdn Bhd by LYK Architect Sdn Bhd, on behalf of Casa Inspirasi Sdn Bhd. The contract is deemed a related-party transaction as Casa Inspirasi is an indirect subsidiary of LBS Bina, while LBS Bina's group executive chairman and largest shareholder Tan Sri Lim Hock San is also MGB’s group executive chairman. — MGB bags related-party apartment construction job in Cameron Highlands

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM104.3 million building works contract. The contract covers the construction and completion of 16 semi-detached factories with offices, four additional factory units, and three substations with related infrastructure in Bandar Bukit Raja III, Klang, Selangor. Work is set to start on Feb 24, 2025, to be completed within 18 months. The contract was awarded to its wholly-owned unit Kitacon Sdn Bhd by Sime Darby Property (BBR3 Asset 1) Sdn Bhd, a unit of Sime Darby Property Bhd (KL:SIMEPROP). With the latest contract win, Kitacon’s outstanding order book has now surpassed RM1.5 billion. — Kumpulan Kitacon gets construction contracts worth RM104 mil

Keyfield International Bhd (KL:KEYFIELD) has bagged two contracts worth a total RM56 million for vessel charter jobs from Petronas Carigali Sdn Bhd.  The contracts — a work order award and extension — granted to the company’s unit Keyfield Offshore Sdn Bhd were for the charter of two dynamic positioning 2 accommodation workboats. The award and extension were issued under Petronas' panel contractor contract for offshore support vessel (OSV) services. Both charters will span five to six months. — Keyfield secures two vessel charter jobs worth RM56m

Divfex Bhd’s (KL:DFX) 51%-owned unit Excel Commerce Solutions Sdn Bhd has clinched a new letter of award valued at RM18.5 million to supply and install data centre equipment systems. The project, which was awarded by Extreme Broadband Sdn Bhd, is set to commence this month and expected to be completed by August. Excel Commerce Solutions had previously secured a similar contract from Extreme Broadband in August 2024 for the supply and installation of data centre equipment systems worth RM46.6 million at the time. — Divfex's 51%-unit clinches new contract to supply data centre equipment worth RM18.5m

Colform Group Bhd (KL:COLFORM), a newly listed steel product company, will focus its expansion efforts on the home market amid risks from potential US tariff escalations. The Sabah-based company plans to expand into Peninsular Malaysia while tapping into steady growth prospects in East Malaysia, Colform managing director Kang Ket Hung said at a press conference following the company’s ACE Market debut on Monday. The new tariffs to be announced by the US may alter the global steel trade landscape, Kang flagged. For now, the company does not export any of its products to the US, “so it will not affect us in any way", he noted. — Colform to focus on home market amid potential US tariff escalations

Colform raised RM41.19 million from its IPO, of which RM18.09 million has been earmarked for working capital and RM9 million to set up a colour coil coating production line at its Kota Kinabalu factory. It has allocated RM5.1 million for expansion into Peninsular Malaysia, which includes the establishment of a branch office and the leasing of a factory in Klang, RM4.5 million for the construction of a storage facility in Kota Kinabalu, with the remaining RM4.5 million to cover listing expenses. — Colform Group up 11% in ACE Market trading debut after RM60m IPO

Sarawak Consolidated Industries Berhad (KL:SCIB) said its unit, SCIB Properties Sdn Bhd (SCIBP), has filed a writ of summons against housing developer Awana JV Suria Saga Sdn Bhd, seeking legal redress over what it claims as unauthorised loan drawdowns by the latter. As part of the lawsuit, SCIB is seeking several court declarations to safeguard its financial interests and legal standing. Firstly, the company is requesting a confirmation that the settlement cum appointment of contractor agreement signed by SCIBP and Awana in August 2024 and the related contract have lapsed and are no longer enforceable. Additionally, SCIB is seeking a court order to compel Awana to discharge SCIB as the corporate guarantor for the loan facility within 30 days from the date of judgment. — SCIB files writs of summons against developer Awana JV Suria Saga after project in Perak falls through