KUALA LUMPUR (June 11): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:
Capital A Bhd (KL:CAPITALA) said the Singapore court order to seize shares in its fintech arm BigPay Pte Ltd and logistics unit Teleport Everywhere Pte Ltd (TES) is not expected to result in any losses for the group. The group said both subsidiaries are not considered major, as neither contributed more than 70% of its profit before tax or total assets for the financial year ended Dec 31, 2025. Capital A added that the US$14.7 million (RM59.8 million) claim linked to the case has already been accounted for in its financial statements since FY2024. — Capital A says no losses expected from Singapore’s seizure of BigPay, Teleport shares
Energy infrastructure and marine services provider Coastal Contracts Bhd (KL:COASTAL) said a consortium led by its Mexican joint venture has secured a US$204.8 million (RM834.7 million) contract from Petróleos Mexicanos (Pemex) for the development and operation of a gas sweetening plant, namely the second Perdiz Plant at Mexico’s Ixachi field. The contract covers procurement, transportation, installation, commissioning, start-up and operations and maintenance (O&M) of the facility, with the engineering, procurement and construction (EPC) portion valued at US$157.5 million and the O&M component at US$47.3 million. — Coastal Contracts-led consortium lands US$204.8 mil gas sweetening plant contract with Mexico’s state oil company
Bermaz Auto Bhd (KL:BAUTO)'s net profit more than doubled to RM46.62 million from RM21.2 million in the fourth quarter ended April 30, 2026 (4QFY2026), driven by stronger domestic Mazda sales and improved margins. Revenue rose 3% to RM544.67 million from RM528.65 million a year earlier, supported mainly by higher Mazda sales, particularly the Mazda3, which offset weaker Kia sales following the end of its distributorship in November 2025. The group declared a total dividend of 3.5 sen per share for the quarter, bringing FY2026 dividends to 7.25 sen per share compared with 16.75 sen in FY2025. — Bermaz Auto’s 4Q profit more than doubles on stronger Mazda sales, declares 3.5 sen dividend
Property developer Titijaya Land Bhd (KL:TITIJYA) will undertake the construction of 1,202 affordable Rumah Idaman housing units in Selangor, backed by the state government. The project will be carried out via its wholly-owned subsidiary NPO Builders Sdn Bhd in partnership with PNSB Construction Sdn Bhd, and will be built on 13 acres of land. Of the total units, 240 units measuring 1,000 sq ft will be priced at RM250,000 each, while 962 units measuring 1,080 sq ft will be priced at RM295,000 each. — Titijaya partners Selangor investment arm to build affordable homes
Dreamland brand bedding manufacturer FACB Industries Incorporated Bhd (KL:FACBIND) shares will be suspended from July 22 after its public shareholding spread fell below the minimum 25% requirement. The company's public shareholding spread declined to 8.875% on June 5 after chairman and non-independent executive director Chen Yiy Fon, via Magni Vintage Ltd, increased his stake to 60.96% through the acquisition of 1.55 million shares. Trading will remain suspended until the requirement is met. — FACB Industries to be suspended from July 22 for public shareholding non-compliance
Kerjaya Prospek Group Bhd (KL:KERJAYA) has partnered Aspen Vision Development Sdn Bhd to develop a 34.84-acre mixed-use project in Prai, Penang, on land owned by Railway Assets Corp (RAC). The project, to be undertaken via special-purpose vehicle Rivanis Ventures Sdn Bhd, will comprise 338 affordable housing units alongside residential, serviced apartments, and commercial components, with construction to be carried out in phases over about seven years. The land will be acquired for RM156.49 million under a development agreement with RAC. — Kerjaya Prospek, Aspen to jointly develop mixed project in Penang
Shin Yang Group Bhd (KL:SYGROUP) said its wholly-owned subsidiary has filed a lawsuit against Petroschiff Marine Logistics Sdn Bhd to recover RM2.96 million in alleged unpaid charter fees, service tax and repair costs. The claim, filed at the High Court on May 21, relates to charter arrangements involving six sets of tugboats and barges between May 2025 and March 2026. — Shin Yang sues Petroschiff Marine over alleged unpaid charter fees
Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) said its unit has been sued for RM54.01 million by a contractor over alleged wrongful termination of a contract. Its wholly-owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) was served a writ and statement of claim by Solution Technologies Sdn Bhd. The claim relates to losses from termination of a transportation and installation contract under an engineering, procurement, construction and installation package for a field development project. Solution Technologies is seeking RM54.01 million in special damages, including project costs, sub-vendor payments, salaries and loss of profit. — MHB unit sued for RM54 mil over alleged wrongful termination of contract