KUALA LUMPUR (May 7): Here is a brief recap of some corporate announcements that made news on Wednesday.

SD Guthrie Bhd (KL:SDG), the world’s largest palm oil producer by acreage, saw its net profit more than double to RM567 million in the first quarter ended March 31, 2025 (1QFY2025), from RM211 million a year ago, driven by stronger performance at its upstream segment, which offset lower profits from the downstream segment. Revenue came in at RM4.82 billion, up 11% year-on-year (y-o-y) from RM4.34 billion. SD Guthrie expects CPO prices to soften in the near term, citing improved weather boosting supply and reduced biodiesel demand amid low crude oil prices. Although US tariffs are unlikely to have a direct impact on Malaysian CPO, the group said they contribute to price volatility and may increase operational costs due to global supply chain disruptions. — SD Guthrie's 1Q net profit more than doubles on strong upstream gains 

Pharmaniaga Bhd’s (KL:PHARMA) net profit for 1QFY2025 increased 15.3% to RM29.58 million from RM25.65 million a year ago, thanks to higher sales and cost optimisation efforts. Quarterly revenue rose 9.4% to RM1.06 billion from RM964.96 million, driven by higher demand in the concession segment, on the back of increased orders from government hospitals and the inclusion of new products in the approved products purchase list. — Pharmaniaga’s 1Q net profit up 15% on higher sales and cost optimisation 

Property developer I-Bhd's (KL:IBHD) net profit more than doubled to RM9.96 million in 1QFY2025 from RM4.07 million a year ago, driven by higher contributions from its property development and property investment segments. Quarterly revenue jumped 52.74% to RM62.06 million from RM40.63 million. Moving forward, it expects its leisure and hospitality segment to improve in the second quarter, driven by increased domestic tourism during school holidays and ongoing yield optimisation efforts across its hotel and attraction portfolio, particularly as Visit Selangor 2025 and Visit Malaysia 2026 activities gain momentum. It also anticipates continued positive momentum in its property investment segment, supported by active lease renewals and strong tenant demand for prime, strategically located assets. — I-Bhd's profit more than doubles in 1QFY2025 

Capital A Bhd (KL:CAPITALA) shareholders have given the green light to the company's regularisation plan following an EGM, in a bid to regularise its financial condition after being classified as a Practice Note 17 (PN17) company for over three years. The regularisation plan received overwhelming support, with 99.99% of shareholders, representing 43.67% of voting shares (1.89 billion shares), voting in favour of it. Previously known as AirAsia Group Bhd, it was classified as a PN17 company in January 2022 after its external auditors, Ernst & Young PLT, raised doubts about the airline's ability to continue as a going concern in its audited financial statements for the year ended Dec 31, 2019. This classification followed a drop in shareholders’ equity to below 50% of the group's share capital. Key components of the regularisation plan include a share capital reduction of up to RM6 billion to offset accumulated losses and a reorganisation of the group's business units. Once completed, Capital A intends to evolve beyond its low-cost airline roots into a broader aviation and digital services business. — Capital A gets shareholders' nod for plan to uplift PN17 status

Practice Note 17-listed Sarawak Cable Bhd (KL:SCABLE) is planning to take legal action against the appointed liquidators of its unit, Leader Cable Industry Bhd (LCIB), alleging wilful negligence and misconduct in how LCIB's assets may be disposed of. The loss-making cable manufacturer, currently under interim judicial management, said its board had used its remaining authority to inform the appointed liquidators — Khoo Siew Kiat and Goh Hua Yang from Messrs Deloitte Restructuring Services PLT — of its intention to start legal proceedings. The proposed legal action, which could include seeking a court order to prevent certain actions (injunctive relief), stems from concerns that the potential disposal of LCIB’s assets has been managed in a way that harms the company’s interests. — Sarawak Cable to sue unit’s liquidators over alleged misconduct in asset disposal 

Kumpulan Jetson Bhd (KL:JETSON) said its shareholders’ requisition dated April 23, 2025 to convene an extraordinary general meeting (EGM) will be put on hold, pending the outcome of a legal suit filed by three minority shareholders challenging the validity of the notice. This announcement follows a writ of summons filed on Tuesday by Ting Hoong Yi, Ma Xiao Xiang, and Tang Yan, who collectively hold a 4.86% stake in the company. It had previously received the requisition from five shareholders — Yudishthiran Doraisamy (4.05%), Dhayalini PG Doraisamy (4.01%), PG Doraisamy P Gopal (0.79%), Wong Hong Yuk (1.21%), and Teoh Cheng Fang (0.62%) — who collectively hold a 10.68% stake, to remove the entire board, including chairman Tunku Nooruddin Tunku Shahabuddin and executive director Edward Ng Kah Jiun, and replace them with new nominees. The latest requisition notice marks the third attempt by minority shareholders to remove Kumpulan Jetson's board since December 2023. The first attempt occurred in December 2023, followed by a second attempt in February 2024, both of which were rejected. — Kumpulan Jetson gets writ of summons to void shareholders' requisition notice 

Pavilion Real Estate Investment Trust (KL:PAVREIT) has received its unitholders’ approval to acquire two hospitality assets, namely Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL), for RM480 million. Post-acquisition, the hotels will comprise approximately 5.5% of Pavilion REIT’s enlarged total asset under management. As a result, Pavilion Kuala Lumpur Mall’s share of the portfolio will decrease from 61.8% to 58.5%. The transactions are deemed related-party as the vendors Lumayan Indah Sdn Bhd and Harmoni Perkasa Sdn Bhd are indirectly wholly owned by Pavilion REIT major unitholder Tan Sri Lim Siew Choon, who owns 23.07% of Pavilion REIT.  The acquisitions will be funded through a combination of debt and or equity. — Unitholders give green light to Pavilion REIT's RM480 mil hotel acquisitions