KUALA LUMPUR (May 26): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

The High Court on Monday granted Berjaya Group Bhd leave to challenge the additional assessment of RM428.04 million imposed by the Inland Revenue Board for the years 2018 to 2023. Berjaya Group is a wholly-owned subsidiary of Berjaya Corp Bhd (KL:BJCORP). Judge Alice Loke Yee Ching also granted an interim stay sought by Berjaya Group over the IRB’s decision dated July 30, 2025, to impose the additional assessment, pending the disposal of the judicial review. She fixed June 16 for an inter partes stay application hearing. — Berjaya Group gets court’s permission to challenge IRB’s RM428.04 mil tax assessment

Hong Leong Bank Bhd (KL:HLBANK) said on Tuesday its net profit grew nearly 9% in the recently-ended quarter thanks mostly to lower taxation and interest income. Net profit at Malaysia's fifth largest banking group by assets was RM1.03 billion for the three months ended March 31, 2026, compared with RM946.7 million in the same quarter a year earlier. Net interest income edged up 5% while non-interest income fell close to 9%. No interim dividend was declared for the quarter. — Hong Leong Bank 3Q net profit rises nearly 9% on lower tax, higher interest income

UOA Development Bhd’s (KL:UOADEV) first-quarter earnings dropped by 43.3% due to lower development revenue recognition and the absence of one-off gains logged in the previous quarter. For the three months ended March 31, 2026 (1QFY2026), the property developer saw its net profit decline to RM41.94 million versus RM73.95 million in the previous year’s corresponding period. Revenue also fell by 25.2% to RM113.86 million as compared to RM152.1 million a year earlier. No dividend was declared for the quarter under review. — UOA Development 1Q net profit drops by 43% on lower revenue recognition

Hong Leong Financial Group Bhd (KL:HLFG) said its net profit in the recently-ended quarter rose nearly 5% from a year earlier, helped by lower taxations amid a drop in income. Net profit for the three months ended March 31, 2026 was RM748.66 million compared with RM714.12 million in the same period a year earlier. Year-on-year, net interest income rose 2.6% to RM1.02 billion, while non-interest income fell 13.9% to RM379.35 million. No interim dividend was declared. — Hong Leong Financial’s 3Q profit rises nearly 5% on lower tax amid drop in income

CIMB Group Holdings Bhd (KL:CIMB) posted a slightly lower net profit of RM1.916 billion in the first quarter, compared with RM1.973 billion a year earlier, as higher non-interest income was not enough to offset lower net interest income for the period ended March 31, 2026. The group’s performance translated into a return on equity of 11.0% and earnings per share of 17.8 sen. No dividend was declared for the quarter under review. — CIMB 1Q profit dips slightly on margin pressure, but shows early signs of stabilisation

Eastern & Oriental Bhd (KL:E&O) achieved record high annual revenue and profit for the financial year ended March 31, 2026, driven by robust property sales momentum and higher contributions from ongoing and newly launched developments. The property developer’s net profit surged 31.2% to RM221.21 million in FY2026 from RM168.65 million in FY2025, as revenue climbed 17.1% to an all-time high of RM867.64 million from RM741.08 million. No dividend was declared with the latest results. — E&O posts record FY2026 earnings despite softer 4Q; property sales hit all-time high

TIME dotCom Bhd (KL:TIME) posted a more than 5% increase in net profit for the first quarter, driven by higher revenue and improved margins, partially offset by higher foreign exchange losses, lower interest income, and weaker contributions from associates and jointly controlled entities. Net profit for the three months ended March 31, 2026 rose to RM119.2 million from RM113 million a year earlier. Revenue increased 6% year-on-year to RM454.1 million from RM428.6 million, driven by sustained demand for its data and connectivity offerings across both the retail and wholesale segments. No dividend was declared for the quarter. — TIME dotCom 1Q profit up 5% as revenue, margins improve

Padini Holdings Bhd (KL:PADINI) said it will continue to implement cost-control measures after its third-quarter earnings were dragged down by higher operating expenses, including increased depreciation and service tax on rental and other costs following the expansion of the sales and service tax scope last July. The fashion retailer reported a 15.88% decline in net profit for the quarter ended March 31, 2026 to RM60.54 million, compared with RM71.97 million a year earlier, as revenue edged lower to RM624.45 million from RM626.81 million amid softer top-line sales. Padini declared a fourth interim dividend of 1.8 sen per share and a special dividend of two sen per share. — Padini declares special dividend despite 3Q profit slide, flags weakening consumer power

Sime Darby Property Bhd (KL:SIMEPROP) posted a 34% rise in net profit for the first quarter thanks to paper gains and stronger recurring income. Net profit for the quarter ended March 31, 2026 came in at RM158.78 million, up from RM118.41 million a year earlier. During the quarter, the property developer booked a fair value gain of RM65.13 million from a completed data centre. Revenue, however, slipped 8.3% year-on-year to RM799.18 million due to lower contributions from property development and leisure segments. No dividend was declared. — Sime Darby Property 1Q net profit rises 34% on paper gains, recurring income

PPB Group Bhd’s (KL:PPB) net profit for the first quarter ended March 31, 2026  fell 37.73%, dragged by weaker contributions from its 18.8%-owned associate Wilmar International Ltd and softer performance across its core business segments. Net profit declined to RM234.02 million from RM375.83 million a year earlier, on revenue that slipped 4.88% to RM1.285 billion from RM1.351 billion. The earnings contraction was largely due to a 31% drop in contribution from Wilmar to RM196 million from RM283 million previously, alongside a 53% fall in core segment profits to RM59 million from RM127 million. No dividend was declared for the quarter. — PPB Group 1Q profit drops 38% on weaker core segments, lower Wilmar contribution

IHH Healthcare Bhd (KL:IHH) posted a 3% increase in net profit for the first quarter, driven by higher inpatient and daycase volumes as well as a greater number of complex cases treated. Net profit for the three months ended March 31, 2026 rose to RM528 million from RM514 million a year earlier. Core net profit after tax and minority interest also increased 5% year-on-year to RM548 million. Revenue grew 4% to RM6.55 billion from RM6.3 billion a year earlier, driven by stronger contributions from its operations in Malaysia, Türkiye and Europe. No dividend was declared for the quarter. — IHH Healthcare’s 1Q net profit rises 3% on higher patient volumes

LBS Bina Group Bhd’s (KL:LBS) net profit fell 39.67% to RM17.03 million for the quarter ended March 31, 2026 (1QFY2026) from RM28.23 million a year ago, weighed down by slower activity in property development. Its construction and trading segment saw an over fourfold jump to RM3.1 million from RM80,000 the year before, while its management and investment segment lost RM800,000 in the current quarter, compared with a loss before tax of RM1.8 million. No dividend was announced for the quarter under review. — LBS Bina’s 1Q net profit drops almost 40% on lower property contribution

Oriental Kopi Holdings Bhd (KL:KOPI) posted a 9% earnings growth in the recently-ended quarter thanks to a boost from new outlets, though margins shrank from higher costs. Net profit at the eponymous restaurant chain was RM15.03 million for the second quarter ended March 31, 2026 compared with RM13.82 million in the corresponding quarter last year. Revenue surged 43% year-on-year to RM147.26 million, the highest since the company's ACE Market listing in Jan 2025, as sales of packaged foods also helped. — Oriental Kopi 2Q earnings up nearly 9% on record revenue, margins shrink

Sunway Bhd (KL:SUNWAY) posted a net profit of RM9.4 billion for the first quarter ended March 31, 2026, thanks to whopping RM9.1 billion fair value gain from the listing of Sunway Healthcare Holdings Bhd (KL:SUNMED). Excluding the fair value gain, the conglomerate’s earnings growth remains strong. Its quarterly pre-tax profit (PBT) expanded 52% year-on-year to RM462.4 million, up from RM304.1 million, driven by stronger performance across most business segments. Quarterly revenue grew 8% to RM2.56 billion from RM2.37 billion, with no dividend declared for the quarter under review. — Sunway’s 1Q net profit swells amid whopping RM9.1b fair value gain from Sunway Healthcare IPO

UEM Edgenta Bhd (KL:EDGENTA) returned to profit in the first quarter and said its shares will be suspended from trading from June 12 to support its selective capital reduction and repayment exercise ahead of privatisation by UEM Group Bhd, a unit of Khazanah Nasional Bhd. The exercise, which will see UEM Group increase its stake from 69.14% to 100%, was approved by shareholders at an extraordinary general meeting in early April.  This paves the way for the company’s delisting from the Main Market in July. — UEM Edgenta turns black in 1Q, trading to halt on June 12 ahead of delisting

Electronics manufacturing services firm EG Industries Bhd's (KL:EG) net profit rose 75.7% to RM22.11 million for the third quarter from RM12.59 million a year earlier, boosted by higher profit margins. The group's operating profit for the quarter ended March 31, 2026 (3QFY2026) grew 46.5%, which was partially offset by a 30% increase in depreciation and amortisation, as well as increased tax expenses. No dividend was declared for the quarter. — EG Industries 3Q net profit up 76% on better profit margins

SkyWorld Development Bhd (KL:SKYWLD) concluded its recent financial year on its weakest footing since its 2023 listing, weighed by lower margins, unrealised foreign exchange losses and higher costs. Net profit for the year ended March 31, 2026 fell 46.58% to RM29.6 million from RM56.15 million in the previous year. Revenue declined 3.37% to RM430.48 million from RM445.49 million. — SkyWorld’s FY2026 net profit down 47% on lower margins, forex losses