KUALA LUMPUR (Oct 28): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:
Bursa Malaysia Securities Bhd is taking legal action against MAA Group Bhd (KL:MAA) to stop it from holding an extraordinary general meeting (EGM) on KNM Group Bhd’s proposed sale of Deutsche KNM GmbH. Bursa is seeking, among others, an order to prevent MAA and CIMSEC Nominees (Tempatan) Sdn Bhd from convening the EGM to discuss or move the proposed special resolution on the disposal of DKNM until the requirements of the Main Market Listing Requirements have been met. — Bursa Malaysia takes MAA Group to court to block EGM on KNM unit sale
Yinson Holdings Bhd (KL:YINSON) said its subsidiary Yinson Renewables has received approval from New Zealand’s Overseas Investment Office for its renewable energy investments in the country. — Yinson gets nod from New Zealand for renewable energy projects
Mah Sing Group Bhd (KL:MAHSING) is looking for new partners to develop its second data centre project, after exclusive talks with Bridge Data Centres lapsed. This is the second data centre project collaboration with Bridge Data Centres to have fallen through, after an earlier agreement lapsed in May. The latest one-year exclusivity agreement with Bridge Data Centres Malaysia VII Sdn Bhd for the proposed joint venture development of a 200-megawatt data centre lapsed on Tuesday. — Mah Sing eyes new data centre partners as second deal with Bridge DC falls through
UEM Sunrise Bhd (KL:UEMS) has appointed Shaharul Farez Hassan as its managing director and chief executive officer, effective Nov 17. Shaharul Farez, 55, is filling a position that has been vacant for eight months, after Sufian Abdullah resigned as CEO earlier in February. The group also announced the appointment of Grace Yap Mei Wan, 58, as an independent director, effective Nov 3. — UEM Sunrise names former DRB-Hicom COO Shaharul Farez Hassan as CEO
UEM Edgenta Bhd (KL:EDGENTA) has appointed Shaiful Zahrin Subhan as its new managing director and chief executive officer, effective Nov 1. Shaiful succeeds Syahrunizam Samsudin, who resigned at the end of August to take the helm of independent power producer Malakoff Corp Bhd (KL:MALAKOF). — UEM Edgenta names Shaiful Zahrin Subhan as its new chief
Nestlé (Malaysia) Bhd (KL:NESTLE) said its net profit for the third quarter ended Sept 30, 2025 (3QFY2025) rose 34% to RM114.04 million from a year earlier, thanks to higher sales and cost control measures. Revenue for the quarter rose 22% year-on-year (y-o-y) to RM1.76 billion, contributed by both domestic and export sales. An interim dividend of 60 sen per share was declared, payable on Dec 10. — Nestlé Malaysia reports 3Q net profit up 34%, to pay 60 sen per share dividend
LPI Capital Bhd (KL:LPI) posted a 7.4% drop in net profit for 3QFY2025 to RM114.83 million compared to a year earlier. Higher costs and lower income from an associate dragged despite revenue rising 9.9% y-o-y to RM549.31 million. No dividend was declared for the quarter. — LPI Capital says will tighten underwriting after latest results amid mounting industry challenges
Oriental Interest Bhd (KL:OIB) reported a 10.43% increase in net profit to RM39.26 million for the fourth quarter ended Aug 31, 2025 (4QFY2025), from RM35.55 million a year before, mainly driven by better performance in its property development and general construction segments. Revenue was up 7.02% to RM224.27 million from RM209.56 million. No dividend was declared during the quarter under review. — Oriental Interest’s 4Q net profit up 10% on better showing by property, construction segments
Alpha IVF Group Bhd (KL:ALPHA) posted a 6.3% jump in net profit for the first quarter ended Aug 31, 2025 (1QFY2026) to RM15.28 million from RM14.38 million a year earlier, driven by higher sales and improved margins. Revenue rose 21.2% to RM52.10 million from RM42.10 million. The company declared a second single-tier interim dividend of 0.5 sen per share. — Alpha IVF posts stronger 1Q earnings, plans new IVF centres in Malaysia, Philippines, Indonesia
Dufu Technology Corp Bhd (KL:DUFU) returned to the black for 3QFY2025 with a net profit of RM10.5 million, compared with a net loss of RM3.2 million a year earlier, mainly due to lower foreign exchange losses. Revenue jumped 8.3% to RM71.37 million from RM65.89 million. No dividend was declared for the quarter under review. — Dufu returns to black in 3Q on lower forex loss, sees pick-up in data storage demand
S P Setia Bhd (KL:SPSETIA) has proposed to establish two Islamic note programmes — a RM3.5 billion sukuk wakalah programme and a RM500 million Islamic commercial paper programme — to provide financing flexibility for its working capital, refinancing and expansion needs. — S P Setia to establish RM4b sukuk, commercial paper programmes to refinance debt, fund growth
Kumpulan Kitacon Bhd (KL:KITACON) has won an RM86.58 million contract from Earth Pavilion Sdn Bhd to build residential units at The Mines Resort City, Selangor. The project will start on Nov 1 this year and is slated for completion within 24 months. — Kumpulan Kitacon bags RM86.6m contract to build residential units at The Mines Resort City
Sunway Real Estate Investment Trust (KL:SUNREIT) is selling back its hotel in Penang — Sunway Hotel Seberang Jaya — to its parent company Sunway Bhd (KL:SUNWAY) for RM60 million. Proceeds from the sale will go towards building a new hotel atop its shopping mall Sunway Carnival Mall, which is also in Seberang Perai. — Sunway REIT sells Penang hotel back to parent for RM60 mil to fund new Seberang Perai project
PeterLabs Holdings Bhd (KL:PLABS) and two disputing substantial shareholders — former executive director Datuk Loh Saw Foong and his wife Datin Lin Ching Yein — said their disputes concerning the company and its units have ended. They have entered into a settlement agreement, marking the conclusion of all matters arising from or connected with the management, operations and affairs of PeterLabs, PeterLabs Sdn Bhd and Thye On Tong Trading Sdn Bhd. — Peterlabs signs settlement agreement with substantial shareholders to end disputes
SkyGate Solutions Bhd (KL:SKYGATE) is selling one of its factories in Penang to Danish medical device firm Ambu AS for RM39.8 million. The company said the property sale is to generate capital to reinvest in high-growth projects to enhance its profitability. A breakdown of the utilisation of proceeds was not disclosed. — SkyGate sells Penang factory to Danish medical device maker Ambu for RM39.8m