KUALA LUMPUR (Nov 24): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (Nov 24):

Telekom Malaysia Bhd (KL:TM)’s net profit rose 47.6% year-on-year to RM686.27 million for its third quarter ended Sept 30, 2025 (3QFY2025), from RM465.04 million, underpinned by resilient core operations, fair value gains from its investment in a technology fund and a significant reduction in tax charges. Quarterly revenue edged up 2.6% to RM2.99 billion compared with RM2.92 billion previously. No dividend was declared for the quarter under review. — Telekom Malaysia’s 3Q net profit surges 47.6% on one-off gains, lower taxes

IOI Properties Group Bhd (KL:IOIPG) posted a net profit of RM664.33 million, up more than ninefold from RM69.17 million a year earlier, lifted by a one-off remeasurement gain of RM502.8 million from its full acquisition of Scottsdale Properties Pte Ltd and improved contributions across its core segments. Scottsdale Properties, which was previously a joint venture with City Developments Ltd's unit Ascent View Holdings, owns the JW Marriott Singapore South Beach, South Beach Avenue and South Beach Tower. In September, IOI Properties completed the acquisition of the remaining 50.1% in Scottsdale Properties for RM2.75 billion. Quarterly revenue rose 40.8% to RM968.70 million from RM687.85 million, with all three segments registering revenue growth: property development, property investment, and hospitality and leisure. — IOI Properties’ 1Q net profit soars on whopping remeasurement gain in Singapore

Kelington Group Bhd (KL:KGB) has declared a special interim dividend of 1.5 sen per share, alongside a third interim dividend of 2.5 sen per share, after its net profit for the third quarter rose 25% y-o-y to RM41.14 million in 3QFY2025, from RM32.92 million. The latest payouts — totalling four sen per share — will be paid on Jan 21. This brings year-to-date dividends to nine sen per share, up from six sen per share for the same period last year. The stronger earnings for 3QFY2025 were driven by reduced unrealised forex losses and higher contributions from Singapore operations, offsetting declines in revenue from China and the industrial gases segment. Quarterly revenue increased 3% year-on-year to RM316.37 million from RM307.31 million. It secured RM1.14 billion in new contracts year to date, lifting its outstanding order book to RM1.64 billion. It also marked its entry into Europe with a first project win in Dresden, Germany. — Kelington declares special dividend as 3Q net profit rises 25%

Cahya Mata Sarawak Bhd (KL:CMSB) posted a net profit of RM32.12 million for 3QFY2025, reversing a net loss of RM9.22 million a year earlier, as revenue rose 1.8% to RM305.37 million from RM299.91 million. This was helped by significant improvement in gross margins and a smaller unrealised foreign exchange loss from the revaluation of shareholders’ loans in its phosphates business. Higher contributions from the group's cement, road maintenance and property development business units, together with stronger joint venture results, were key drivers of the improved performance. No dividend was declared for the quarter. — Cahya Mata posts RM32m net profit in 3Q on better margins, lower forex losses

Apex Healthcare Bhd (KL:AHEALTH), which recently received a buyout offer from a major shareholder-led consortium, posted a weaker net profit of RM15.6 million in 3QFY2025, down 14.4% from RM18.23 million a year ago. The decline was due to higher low-margin distribution sales, the absence of last year’s one-off gain, increased depreciation from new assets, and continued losses from its associate caused by slow demand and higher costs. Revenue otherwise rose 6.6% to RM253.1 million from RM237.37 million, supported by sustained demand for pharmaceuticals, consumer healthcare and medical devices, particularly in the private sector. No dividend was declared for the quarter. — Apex Healthcare’s 3Q profit declines 14.4% on low-margin sales, higher depreciation and associate losses

SKP Resources Bhd (KL:SKPRES)’s net profit fell 20% to RM27.48 million for the second quarter ended Sept 30, 2025 (2QFY2026), from RM34.35 million a year ago due to start-up costs associated with onboarding new customers. Revenue declined 15.4% to RM537.39 million from RM635.29 million in 2QFY2025. No interim dividend was declared for the quarter. — SKP Resources 2Q net profit down 20% on start-up costs for new customers

Johor-based pawnbroker Well Chip Group Bhd (KL:WELLCHIP)’s net profit nearly tripled to RM23.7 million in the 3QFY2025, from RM8.77 million on stronger contribution from both its pawnbroking services and sales of jewellery and gold. Quarterly revenue grew by 47.73% y-o-y to RM70.47 million, from RM47.7 million. This implies a net profit margin of 33.63% for 3QFY2025, up from 18.38% for 3QFY2024. It did not recommend any dividend for the quarter. — Well Chip's 3Q profit nearly triples on higher pawnbroking contribution, sales of jewellery and gold

Pawnshop operator Pappajack Bhd (KL:PPJACK) posted record third-quarter earnings, with net profit up 23.6% year-on-year to RM8.06 million from RM6.52 million due to higher gross profit margin. Quarterly revenue increased by 12.13% y-o-y to RM32.65 million, from RM29.12 million. It declared a third interim single-tier dividend of 0.5 sen per share, payable on Dec 23. This brings year-to-date dividends to 1.5 sen per share. — Pawnshop operator Pappajack posts record quarterly earnings, declares 0.5 sen dividend

Berjaya Food Bhd (KL:BJFOOD), operator of the Starbucks coffee chain, said early signs of recovery are emerging amid ongoing store consolidation efforts, even as the group posted its eighth consecutive quarterly loss. Its net loss for its first financial quarter ended Sept 30, 2025 (1QFY2026), narrowed substantially to RM14.79 million from RM33.68 million a year earlier, supported by improved margins from cost-saving initiatives, store rationalisation measures, and lower depreciation following the previous year’s impairments. Quarterly revenue inched up 3.3% to RM128.25 million from RM124.19 million, driven largely by contributions from new overseas operations. It noted that Starbucks Malaysia achieved positive same-store sales growth, which contributed to a marginal increase in revenue despite a reduced number of operating outlets during the quarter. — Berjaya Food narrows quarterly losses amid cost controls, overseas growth

Beverage manufacturer Life Water Bhd (KL:LWSABAH)’s net profit rose 25.1% to RM9.37 million in 1QFY2026, from RM7.5 million a year ago, on the back of higher sales volume from its drinking water bottle segment. Revenue rose 20.3% y-o-y to RM51.23 million from RM42.59 million previously. No dividend was declared for the quarter. — Life Water posts 25.1% rise in 1Q net profit on higher water bottle sales

Construction outfit Varia Bhd (KL:VARIA) said it will lead the development of a commercial project in Kuala Lumpur on a land parcel owned by Citaglobal Bhd’s (KL:CITAGLB) unit, under a deal that grants Varia full entitlement to the project’s development profits. The collaboration involves a 6,410-square-metre leasehold tract in Mukim Bandar Kuala Lumpur. The development will be financed through a combination of internally generated funds, sales of properties and bank borrowings. — The project is expected to be completed within 36 months from the approval of the building plan. Varia to lead commercial development on Citaglobal's land under JV deal

Magna Prima Bhd (KL:MAGNA) has entered into a joint venture with Amat Potensi Sdn Bhd to develop a housing project comprising 709 units in Kinta, Perak. The project spans 216,907 square metres of 99-year leasehold land in Mukim Sungai Raya and will be fully funded by its unit Magna City Shah Alam on an as-is-where-is basis. Under the terms of the agreement, Amat Potensi will receive a fixed entitlement of RM33 million in three tranches, together with 25% of the project’s profit before tax, payable upon issuance of the certificate of completion and compliance. — Magna Prima partners landowner to build 709 homes in Perak

Bursa Malaysia Securities has publicly reprimanded the information technology (IT) developer FSBM Holdings Bhd (KL:FBSM) board of directors for failing to ensure its third and fourth quarterly reports for financial year 2024 were accurate. It has ordered FSBM to have its external auditors conduct a limited review of its quarterly reports for four periods, starting with the quarter ending Dec 31, 2025. While Bursa Malaysia Securities found no directors personally responsible for the breach, it emphasised that directors must ensure proper accountability and compliance. — Bursa reprimands FSBM for inaccurate 3Q, 4Q FY2024 reports, orders limited audit review