KUALA LUMPUR (Oct 9): Here is a brief recap of Thursday’s key business news and corporate announcements:
Top Glove Corporation Bhd (KL:TOPGLOV) logged a net profit of RM38.56 million for the fourth quarter ended Aug 31, 2025 (4QFY2025) compared to a net loss of RM6.64 million a year earlier, thanks to stronger sales and softer raw material prices. Quarterly revenue rose to RM889.62 million from RM833.74 million. The world’s largest natural rubber glove maker by capacity also declared a dividend of 0.48 sen per share, payable on Dec 15. For the full FY2025, Top Glove recorded RM109.07 million revenue against RM64.88 million net loss a year ago, as revenue surged 39% to RM3.49 billion from RM2.51 billion. — Top Glove posts profits throughout fiscal year for first time since pandemic
IHH Healthcare Bhd (KL:IHH) is maintaining the offer price for its proposed acquisition of a 26% stake each in Fortis Healthcare Ltd and Fortis Malar Hospitals Ltd, despite a sharp rally in the shares of the two Indian hospital operators over the past several years. The decision follows the approval from India’s Securities and Exchange Board last week that paves the way for IHH to proceed with the long-delayed mandatory open offers that were first made in 2018. IHH said the Fortis offer is priced at 170 Indian rupees (RM8.07) per share, while the Malar offer is 17.6 rupees (84 sen) per share. — IHH Healthcare keeps Fortis, Malar open offer prices unchanged despite rally in share prices
The family of Public Bank Bhd (KL:PBBANK) founder, the late Tan Sri Teh Hong Piow, has trimmed its stake in Malaysia’s third-largest bank by assets, which ended Thursday at a two-week low. Hong Piow’s estate, via Consolidated Teh Holdings Sdn Bhd, disposed of 50 million shares, equivalent to a 0.26% stake. Following the disposal, the Teh family now holds 4.72 billion shares or a 22.02% stake, down from 22.28% as at end-February. The Teh family is required to gradually reduce its stake to 10% within five years through a restricted offer for sale (ROFS) to comply with the Financial Services Act. — Teh family trims stake in Public Bank with sale of 50 mil shares
The mandatory general offer for NuEnergy Holdings Bhd's (KL:NHB) by its shareholder, fertiliser group Agrobulk Holdings Sdn Bhd, has closed with the acceptances pushing its stake in the solar energy firm to 57.99%. Kenanga Investment Bank Bhd, acting on behalf of Agrobulk — formerly known as ILB Group Bhd, said valid acceptances totalling 51.23 million shares or 27.12% of NuEnergy’s issued capital had been received when the offer closed on Thursday. Together with Agrobulk’s existing 58.31 million shares or a 30.87% stake in the company, Agrobulk now controls 109.54 million shares in NuEnergy. — NuEnergy takeover closes with Agrobulk's stake rising to 58%
Ramssol Group Bhd (KL:RAMSSOL) has been appointed by Tencent Cloud as the distributor of its cloud services in Southeast Asia. The group, through its wholly-owned unit RAMS PeopleTech Sdn Bhd, will oversee distribution across Malaysia, Singapore, Thailand, Indonesia, Vietnam and the Philippines. Ramssol managing director Datuk Wira Ts Cllement Tan said the company aims to become Tencent Cloud’s first Migration Service Platform provider outside China. — Ramssol to distribute Tencent Cloud services in six Asean markets
Malayan United Industries Bhd (KL:MUIIND), or MUI, has secured a term loan facility of US$20 million (RM84.3 million) granted by Singapore-based direct lending fund Indies Special Opportunities LV Ltd. The facility is to partially finance costs and expenses incurred related to the capital expenditure works of its wholly-owned subsidiary, Plaza on Hyde Park Ltd, to meet general corporate working capital requirements and to refinance certain existing Malaysian banking facilities. This allows the group to optimise its capital allocation and ensure the continued progress of the renovation and refurbishment of Corus Hyde Park Hotel. — MUI secures US$20 mil term loan to support finance costs and expenses
KNM Group Bhd (KL:KNM) has turned down a request from major shareholder MAA Group Bhd (KL:MAA) to hold an extraordinary general meeting (EGM) to approve the sale of its entire stake in Deutsche KNM GmbH (DKNM) — its most valuable asset — for €270 million (RM1.33 billion), citing regulatory concerns. KNM’s board of directors said it could not meet the timeline for the EGM due to Bursa’s Main Market Listing Requirements after careful consideration, and that as the group is under Practice Note 17 (PN17) status, it must strictly comply with these rules to avoid further risks to its listing. MAA, however, informed KNM on Wednesday that it will proceed with calling the EGM and has issued a notice to shareholders to vote on the proposed DKNM sale. — KNM Group rejects EGM request over PN17 rule concerns, MAA says it will proceed anyway
Practice Note 17 (PN17) company Ivory Properties Group Bhd (KL:IVORY) will be delisted from the Main Market of Bursa Malaysia next Tuesday (Oct 14), after the stock exchange rejected its appeal for more time to submit a regularisation plan. The Penang-based developer triggered PN17 status in 2022 after its external auditor, Messrs KPMG PLT, issued a disclaimer of opinion on its audited financial statements for the financial year ended March 31, 2022 (FY2022). That year, the group posted a net loss of RM79.51 million, with liabilities exceeding current assets by RM60.22 million. — Ivory Properties to be delisted on Oct 14 after Bursa rejects regularisation plan extension