KUALA LUMPUR (Feb 13): Here is a brief recap of some corporate announcements that made the news on Thursday.

Sunway Bhd (KL:SUNWAY) has signed a master agreement for a RM2.6 billion mixed-use development in Johor, adjacent to the Bukit Chagar station of the Johor Bahru–Singapore Rapid Transit System (RTS). The project includes four residential and commercial towers and rights to develop a shopping mall. Construction begins in March 2025, with the first phase of the project expected to open by Nov 30, 2026. The entire project is expected to be completed by 2036. — Sunway signs master agreement for RM2.6b transit-oriented project in Johor, shares rise

CelcomDigi Bhd’s (KL:CDB) net profit fell nearly 64% to RM157.04 million in the in its fourth quarter ended Dec 31, 2024 (4QFY2024) from a year earlier, as the company booked an impairment charge of RM217.2 million mainly related to the right-of-use (ROU) assets of its network sites, following a reassessment of their useful life. Revenue for the quarter was barely higher at RM3.28 billion. For the full year, net profit was RM1.38 billion, down 11.3%, with revenue unchanged at RM12.68 billion. — CelcomDigi books RM217m impairment, 4QFY2025 net profit down 64%

Dialog Group Bhd (KL:DIALOG) posted its first quarterly loss in 25 years of RM129.49 million in its second quarter ended Dec 31, 2024 (2QFY2025), dragged by one-off impairment of investments amounting to RM134.72 million and project cost overruns in its engineering, procurement, construction and commissioning (EPCC) segment. During the quarter under review, the group has discontinued the malic acid chemical project and wrote off RM90.7 million for the capital expenditure incurred. It has also fully impaired RM44 million in investment in a joint venture company. — Investment impairments drag Dialog to RM129.5m loss, first quarterly deficit in 25 years

Luxchem Corp Bhd’s (KL:LUXCHEM) net profit surged 60.42% year-on-year to RM17.77 million in its fourth quarter ended Dec 31, 2024 (4QFY2024), driven by higher revenue from its trading and manufacturing segments. Revenue increased 16.12% to RM205.94 million. The group closed its FY2024 with a 30% increase in annual net profit to RM48.20 million, from RM37.06 million in FY2023, as revenue rose 21.7% to RM795.38 million. — Luxchem’s 4Q net profit up 60%, pays one sen dividend

Newly listed Mega Fortris Bhd (KL:MEGAFB) reported a net profit of RM5.61 million for 2QFY2025, down from RM8.23 million in the preceding quarter. However, the company's revenue for 2QFY2025 was 12.1% higher at RM55.1 million. For the six-month period ended Dec 31, 2024, Mega Fortris recorded a net profit of RM13.84 million with cumulative revenue of RM104.26 million. Despite the positive results, the group remains cautious in managing its operations due to the dynamic global economic and political environment. — Mega Fortris posts RM5.6m net profit for 2QFY2025

ACE Market-debuting ES Sunlogy Bhd reported a net profit of RM3.65 million or 0.65 sen per share for the first quarter ended Oct 31, 2024 (1QFY2025). Revenue for the quarter came in at RM63.54 million. Mechanical and electrical engineering services (M&E) segment is the largest revenue driver, contributing RM47.9 million (75.5%) to the total group’s revenue. — ES Sunlogy posts net profit of RM3.65 mil for 1Q

The Chinese government will pay GUH Holdings Bhd (KL:GUH) 195 million yuan (RM119.83 million) as compensation for the compulsory purchase of industrial land owned by the company in Suzhou, China, to make way for the city’s urban development. The pro forma gain from the land disposal is estimated to be RM95.31 million. The compensation is expected to be settled in four tranches. — China to pay GUH Holdings RM119m for compulsory purchase of Suzhou industrial land

T7 Global Bhd (KL:T7GLOBAL) has been awarded a contract by EnQuest Petroleum Production Malaysia Ltd for maintenance, construction, and modification, as well as hook-up and commissioning services under the B3 Package, with an initial duration of five years. The contract commenced on Dec 4, 2024 and runs until Dec 3, 2029. — T7 Global gets sixth five-year O&G maintenance, commissioning contract

Property developer Glomac Bhd (KL:GLOMAC) has established an Islamic medium-term note (IMTN) programme of up to RM3 billion in nominal value with Malayan Banking Bhd (KL:MAYBANK), to be utilised for land acquisition, capital expenditure and working capital. — Glomac launches inaugural RM3b sukuk programme with Maybank

Perak Corp Bhd (KL:PRKCORP) entered a supplemental agreement for the Teluk Dalam land development, entitling it to RM40.38 million. The development agreement was part of PKNPk's effort to provide the state-owned Practice Note 17 (PN17) company “an avenue to generate sustainable and recurring income”. Perak Corp anticipates an estimated gain of RM26.59 million from the settlement. — Perak Corp expects RM26.6 mil gain from land development entitlement

Able Global Bhd (KL:ABLEGLOB) said its executive chairman Ng Keng Hoe who controls 12.46% stake in the company has been remanded by the Malaysian Anti-Corruption Commission. It also said the MACC’s investigation pertains to Ng’s private company and is not related to the group. In the interim, Able Global’s board and key senior management will collectively take over Ng’s suspended administrative and executive functions. — Able Global executive chairman Ng Keng Hoe remanded by MACC

VS Industry Bhd (KL:VS) said its 20%-owned water filtration system maker, NEP Holdings (M) Bhd, has been placed under liquidation. This follows the Court of Appeal's dismissal of NEP’s appeal against the High Court's decision to deny their stay application for a winding-up order.  — ‘Diamond’ water filter maker NEP placed under liquidation, says VS Industry