KUALA LUMPUR (Feb 14): Here is a brief recap of some corporate announcements that made the news on Friday.

LPI Capital Bhd’s (KL:LPI) net profit fell 6.24% to RM73.86 million in the fourth quarter ended Dec 31, 2024 (4QFY2024) as compared to RM78.58 million a year earlier, due to fair value loss in investments despite strong underwriting performance. Quarterly revenue edged up 1.3% to RM487.6 million. For the full year FY2024, the insurer’s earnings grew 20.2% to RM377.1 million from RM313.7 million, while revenue inched up 1.11% to RM1.93 billion from RM1.91 billion in FY2023. It declared a second interim dividend of 50 sen per share bringing its full-year dividend to 80 sen per share, up from 66 sen per share last year. On prospects, LPI said it has greater opportunities to cross-sell insurance products after Public Bank Bhd (KL:PBBANK) emerged as its largest shareholder. — LPI Capital declares 50 sen dividend, fair value loss drags 4Q profit

EA Technique (M) Bhd (KL:EATECH) reported a 7.6 times increase in its fourth quarter net profit to RM25.17 million from a year ago, fuelled by other operating income of RM24.21  million. Revenue fell 11.6% to RM29.29 million from RM33.13 million a year ago, due to lower utilisation rate of its fast crew boats. Following its 4QFY2024 results, the group has completed the final quarter required to proceed with its official application to Bursa Malaysia for the removal of its PN17 status. The group has also received shareholders’ approval for a rebranding to Avangaad Bhd. — EA Technique’s net profit up over sevenfold in 4Q, applies to exit PN17

CPE Technology Bhd’s (KL:CPETECH) net profit for the second quarter ended Dec 31, 2024 (2QFY2025) increased seven-fold to RM10.47 million from RM1.49 million last year, as revenue increased by 52% to RM33.20 million, from RM21.78 million in the corresponding quarter as the company saw higher demand from the semiconductor industry. For 1HFY2025, the company reported a 214% rise in net profit to RM12.75 million as revenue increased 40.5%. The company said it remains optimistic on demand growth in 2025. — CPE Technology sees demand growth in 2025 after 2Q profit soars

Marine & General Bhd (KL:M&G) has bagged three years vessel provision contracts worth RM300 million from Petronas Carigali Sdn Bhd, ExxonMobil Exploration and Production Malaysia Inc and Vestigo Petroleum Sdn Bhd. — M&G bags vessel provision contracts worth RM300m

Master Tec Group Bhd’s (KL:MTEC) wholly-owned subsidiary Master Tec Wire & Cable Sdn Bhd has bagged a supply contract from Tenaga Nasional Bhd (KL:TENAGA) worth RM107.75 million. The contract has a duration of one year as well as an option to extend for another one year. — Master Tec wins TNB supply contract worth RM108m

Maxis Bhd (KL:MAXIS) has appointed KPMG Malaysia chairman Datuk Johan Idris as the company’s new chairman, effective March 1. — Johan Idris named as Maxis’ new chairman

MNRB Holdings Bhd (KL:MNRB) has appointed Datuk Sulaiman Mohd Tahir as the group’s new chairman, effective immediately. — MNRB appoints Sulaiman Mohd Tahir as new chairman

Gateway Development Alliance Sdn Bhd (GDA) has proposed to compulsorily acquire all of the Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) shares from dissenting shareholders at RM11 per share. MAHB submitted an application to delist from Bursa Malaysia on Thursday, as GDA, who held more 90% of MAHB shares, does not intend to maintain the listing status. — GDA to compulsorily acquire remaining MAHB shares at RM11 apiece

After the arrest of its executive chairman Ng Keng Hoe, Able Global Bhd (KL:ABLEGLOB) said its chief executive officer Edward Goh Swee Wang was remanded by the Malaysian Anti-Corruption Commission to facilitate an ongoing investigation in relation to Ng's private company matters. Both Goh and Ng are substantial shareholders of Able Global. Goh controls a 19.28% stake together with his father Goh Mia Kwong, while Ng has a 12.46% stake. — Able Global says CEO now also remanded by authorities as part of graft probe into chairman

YBS International Bhd (KL:YBS) said except for its memorandum of understanding to acquire the entire stake in precision manufacturing companies for US$38 million (RM167.2 million) announced back in September last year, it is unaware of any corporate development that may explain the unusual market activity in its share price, which touched a two-year low. — YBS says unaware of reason for UMA, save for MOU to acquire precision manufacturing companies for RM167 mil

Bursa Malaysia Securities has publicly reprimanded Waja Konsortium Bhd (KL:WAJA) and fined two of its directors RM100,000 each for breaching the ACE Market Listing Requirements by delaying the announcement on the company triggering the prescribed criteria of Guidance Note 3 following its quarterly report for the financial period ended June 30, 2023. — Bursa Malaysia publicly reprimands Waja Konsortium, fines two directors for failure to announce GN3 status on time