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

Sunway Real Estate Investment Trust (KL:SUNREIT) reported a 20.4% year-on-year increase in its net property income to RM157.19 million in the first quarter ended March 31, 2025 (1QFY2025), from RM130.54 million in the same quarter last year, thanks to contribution from asset acquisitions made in 2024. Quarterly revenue climbed 22.6% to RM218.86 million from RM178.59 million in 1QFY2024, lifted by new retail assets and the reopening of Sunway Pyramid Mall’s Oasis wing. There was no income distribution declared for the quarter, in line with the group’s practice of making semi-annual distributions. — Sunway REIT’s 1Q net income rises 20% on new asset contribution, retail boost

VSTECS Bhd (KL:VSTECS) posted a 24% rise in net profit to RM17.75 million for 1QFY2025, from RM14.32 million a year ago, on the back of higher information and communications technology (ICT) product sales. Revenue increased 12.2% to RM691.67 million versus RM616.36 million in 1QFY2024 amid contribution growth across all three business segments underpinned by strong digitalisation trends. No dividend was declared for the quarter. Looking ahead, it noted the ICT sector has been directly impacted by fluctuating tariffs on semiconductors and restrictions on the export of certain technology products, which have disrupted market confidence and may lead to pricing instability, supply chain disruption and shifts in customer purchasing behaviour. “While consumer sentiment shows signs of caution amid these uncertainties, both enterprise and public sectors remain committed to advancing their digitalisation and AI transformation agendas. This ongoing investment signals resilience within the ICT sector,” it said. — VSTECS’ 1Q profit up 24% on robust ICT product sales

Oil and gas (O&G) services provider Steel Hawk Bhd (KL:HAWK) is confident of further growth after its first quarter net profit more than doubled year on year, driven by stronger revenue as it received new work orders from Petroliam Nasional Bhd (Petronas) from recently awarded contracts. Its net profit for 1QFY2025 jumped to RM8.17 million from RM3.23 million in 1QFY2024, as revenue surged to RM52.48 million from RM19.74 million. No dividend was declared for the quarter under review. — O&G services provider Steel Hawk's 1Q profit jumps on strong orders from Petronas, cost efficiency

AwanBiru Technology Bhd (KL:AWANTEC) has received the full and final RM201.45 million settlement from the government, ending a seven-year dispute over the cancelled RM3.5 billion National Immigration Control System (SKIN) project. The dispute began in April 2019 when its unit Prestariang Skin Sdn Bhd claimed RM733 million from the government over the termination of the RM3.5 billion SKIN project, a 15-year contract to upgrade Malaysia’s immigration system. The project, awarded in 2017 under Datuk Seri Najib Razak’s government, aimed to replace the existing system and enhance border security. In Dec 2018, the Pakatan Harapan government under Tun Dr Mahathir Mohamad cancelled the project to cut costs. — AwanBiru gets RM201m govt settlement, ending seven-year dispute over scrapped RM3.5b SKIN project

Loss-making BCM Alliance Bhd (KL:BCMALL) is divesting its commercial laundry business to its former executive director Ho Kee Wee for RM18 million in cash. At the same time, the company has proposed to consolidate its shares on a 10-to-one basis. It expects to record a pro-forma gain of RM4.2 million from the disposal. Of the RM18 million proceeds, the bulk or RM15 million will be used to acquire new medical devices and equipment, RM2.05 million to fund its working capital and the remaining RM950,000 to cover estimated expenses for the proposals. — BCM Alliance sells CS Laundry to former ED for RM18m; plans 10-to-1 share consolidation

MN Holdings Bhd (KL:MNHLDG) has been awarded a RM37.91 million contract to build a waste-to-energy interconnection facility. The contract, secured by MN Holdings’ unit Mutu Nusantara Sdn Bhd, involves the design, procurement, supply, factory acceptance tests, installation, construction, testing and commissioning for the waste-to-energy interconnection facility. The identity of the customer, referred to as Company A — principally involved in investment holding and the provision of civil engineering and electrical works — was undisclosed due to a non-disclosure agreement. — MN Holdings bags RM37.9 mil waste-to-energy facility project from 'Company A'  

Keyfield International Bhd (KL:KEYFIELD) and Indonesia's PT Elnusa Trans Samudera (ETSA) are exploring marine services opportunities in the region’s O&G sector. ETSA is a subsidiary of PT Elnusa Tbk, which is primarily engaged in the provision of marine transportation support services for the O&G industry in Indonesia. Under the memorandum of understanding, ETSA will be responsible for identifying and securing project tenders within the Indonesian market, while Keyfield will provide selected marine assets — particularly cable-laying and subsea vessels — as well as experienced crew to support the execution of these projects. It operates a fleet of 15 vessels comprising 14 Malaysian-flagged vessels serving the O&G sector and one Panama-flagged vessel for cable-laying activities. — Keyfield, Indonesian firm explore marine services opportunities

MCE Holdings Bhd’s (KL:MCEHLDG) unit will partner with China’s Cheling Smart Mobility Technology and Wuhu Atech Automotive Electronics to support Chery Malaysia’s local production, focusing on automotive parts, technology transfer, and quality standards, with potential joint investments in tooling or facilities. MCE designs and manufactures automotive electronics and mechatronics parts. Cheling Smart Mobility Technology specialises in automotive electronics, while Wuhu Atech Automotive Electronics is a supplier of automotive electronics in China. Chery already has two manufacturing plants in Malaysia. The first, at the Inokom plant, assembles the Chery Tiggo 8 Pro and Chery Omoda 5. The second, in Shah Alam, produces the Jaecoo J7 and Jaecoo J7 plug-in hybrid electric vehicles for local sales and export, with Vietnam being the first Southeast Asian country to receive these models. — MCE Holdings partners Chinese firms to support Chery Malaysia’s local production