KUALA LUMPUR (April 22): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

PETRONAS Chemicals Group Bhd (KL:PCHEM) said it will prioritise domestic customers over export markets in 2026, as the petrochemicals producer moves to safeguard local supply amid volatility from the West Asia conflict and another year of challenging operating conditions. The group said its strategy for the coming year is centred on discipline across safety, operations and capital deployment, while pursuing selective initiatives to strengthen portfolio resilience through core business optimisation, disciplined specialty chemicals expansion and targeted investments, as it navigates fresh volatility in feedstock costs and supply chains arising from the geopolitical developments in West Asia. “PETRONAS Chemicals remains committed to prioritising domestic demand over exports to ensure the continued availability of high-quality products in the local market. Customers can rely on PETRONAS Chemicals for stable supply and consistent product quality,” managing director and chief executive officer Mazuin Ismail said. — PETRONAS Chemicals to prioritise domestic market in 2026 amid West Asia volatility

Rising costs are weighing on margins even as higher palm oil prices offer some relief, United Plantations Bhd (KL:UTDPLT) flagged after reporting a weaker first quarter. Fertiliser prices, fuel costs, labour expenses and other operating inputs are pressuring the industry, the company said. Further sharp upside in prices, meanwhile, may be limited by a seasonal rise in output while key buyers such as India and China may reduce buying interest, it said. Net profit at the Perak-based planter for the first three months of 2026 (1QFY2026) was RM160.66 million, a 1.6% decline compared with the same quarter a year earlier, amid lower contribution from its joint venture Unifuji Sdn Bhd from foreign exchange hedging losses. Revenue for the quarter rose nearly 24% year-on-year to RM640.58 million, thanks to higher output as well as increased refinery sales volume. — United Plantations flags rising cost pressures as 1Q profit edges lower

JAG Capital Bhd (KL:JAGCPTL), formerly KUB Malaysia Bhd, is divesting its entire 30% equity interest in Sarawak-based oil palm operator Sinong Sepadu Sdn Bhd for RM44.3 million, citing strategic differences with its joint venture partner. The group said its indirect wholly-owned subsidiary, KUB Agro Holdings Sdn Bhd, had on April 22 signed a share purchase agreement with Sinong Enterprise Sdn Bhd — which owns the remaining 70% in Sinong Sepadu — for the disposal of 1.95 million shares in Sinong Sepadu. Sinong Sepadu owns two estates in the Oya-Dalat Land district, Mukah, Sarawak, spanning about 4,614.5 hectares. — JAG Capital sells 30% stake in Sarawak-based oil palm firm for RM44.3m

Samchem Holdings Bhd (KL:SAMCHEM), an integrated chemicals and lubricants distributor, is leasing industrial land in Johor Bahru to build a bulk liquid storage terminal to expand capacity. Its wholly-owned unit SC Terminals Sdn Bhd has inked a lease agreement with Idemitsu Chemicals (M) Sdn Bhd for a 439,092 sq ft parcel in Plentong for RM21.08 million in cash. Samchem said the land forms part of a 64.21ha (about 6.91 million sq ft) parcel. The lease runs until May 29, 2051, with an option to extend. — Samchem leases Johor land for RM21m to build chemical storage terminal

Kumpulan Jetson Bhd (KL:JETSON) is disposing of its adhesives and healthcare trading businesses for RM15.8 million, as the group presses ahead with a portfolio rationalisation plan to sharpen its focus on its core automotive anti-vibration parts operations. The group said it had entered into a share sale agreement with THH Electrical Engineering Sdn Bhd to sell its entire equity interest in its wholly-owned subsidiary GRP Holdings Sdn Bhd, formerly known as Jebco Manufacturing Sdn Bhd. GRP Holdings owns GRP Sdn Bhd, which manufactures and sells adhesives and sealants, as well as Tradebiz Marketing Sdn Bhd, which trades pharmaceutical products and medical devices. — Kumpulan Jetson revives unit sale with RM15.8m disposal after collapse of earlier deal

Willowglen MSC Bhd (KL:WILLOW) has secured a maintenance contract worth RM12 million from Singapore-based SP PowerAssets Ltd. The contract, which covers the maintenance of front-end security equipment, was awarded to its unit, Willowglen Services Pte Ltd. The contract is scheduled to be completed by April 20, 2031, and is expected to contribute positively to the company’s earnings till the financial year ending Dec 31, 2031. — Willowglen bags security equipment maintenance contract from Singapore firm

CapitaLand Malaysia Trust (KL:CLMT) posted a 14.7% year-on-year rise in its first-quarter net property income (NPI), driven by contributions from industrial and logistics assets acquired in 2025, stronger performance across selected retail properties and lower operating costs. For the quarter ended March 31, 2026 (1QFY2026), NPI rose to RM80.42 million from RM70.09 million a year earlier while gross revenue increased 5.8% to RM127.38 million from RM120.38 million. Distributable income jumped 22.7% to RM45.77 million from RM37.30 million. CLMT, which is a real estate investment trust focused on retail, logistics and industrial properties in Malaysia, declared a distribution per unit (DPU) of 1.36 sen for the quarter, up from 1.28 sen a year earlier. — CapitaLand Malaysia Trust 1Q property income rises 14.7% on stronger retail portfolio, new asset contributions

AmFirst Real Estate Investment Trust (REIT) (KL:AMFIRST) is positive on weathering pressures ahead, after it posted a 5% year-on-year (y-o-y) rise in net property income (NPI) for its latest closed fiscal year. The retail and office property trust’s NPI for the financial year ended March 31, 2026 (FY2026) edged up to RM64.1 million from RM61.04 million a year earlier. Revenue rose 5.2% y-o-y to RM110.26 million. The improved results were driven by higher occupancy and rental rates, partially offset by higher property expenses on higher building management costs and assessment charges.  The REIT, which carries assets including Menara AmBank and Mydin HyperMall in Bukit Mertajam, declared a final distribution per unit (DPU) of 1.6 sen, up from 1.4 sen in the same period a year ago. Full-year DPU stood at 2.87 sen compared with 2.4 sen a year earlier. — AmFirst REIT positive on year ahead after 5% rise in full-year net property income

AME Real Estate Investment Trust (KL:AMEREIT) reported a 28.9% increase in net property income (NPI) for the fourth quarter, driven by contributions from newly acquired properties and higher rental rates from tenancy renewals. NPI for the three months ended March 31, 2026 (4QFY2026) stood at RM14.94 million compared to RM11.59 million a year ago. Quarterly revenue rose 26.2% to RM16.49 million from RM13.06 million a year before. Distributable income stood at RM11.52 million in 4QFY2026, up 19.4% from RM9.65 million a year ago. AME REIT, which focuses primarily on industrial assets, declared a distribution per unit (DPU) of 2.16 sen — higher than the DPU of 1.83 sen paid a year ago — payable on May 28. This brings the total DPU for FY2026 to 8.34 sen, up 12.2% from 7.43 sen in FY2024. — Industrial-focused AME REIT’s 4Q NPI rises 29%, declares 2.16 sen distribution