KUALA LUMPUR (June 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Electronics manufacturing services provider VS Industry Bhd (KL:VS) said operating conditions are expected to remain challenging for the rest of the financial year after slipping into the red in its latest quarterly results. The group posted a net loss of RM32.91 million for the third quarter ended April 30, 2026, compared with a net profit of RM23.77 million a year earlier. Revenue fell 11.6% to RM804 million from RM909.42 million. No dividend was declared for the quarter. The group attributed the weaker performance to lower orders from key customers amid soft global consumer sentiment, which weighed on capacity utilisation alongside customers’ cost optimisation measures. — VS Industry flags challenging outlook after slipping into the red in 3Q

KCB Holdings Sdn Bhd, a unit of Eastern & Oriental Bhd (KL:E&O), has partnered Cengild Medical Bhd (KL:CENGILD) and Skyspring Sdn Bhd to develop a RM350 million private hospital at Andaman Island, Penang. Under the conditional agreement, KCB will hold a 30% stake, Cengild Medical 25%, and Skyspring 45%. The jpint venture will establish a wholly owned operating company to build and run the hospital, which will be developed in two phases with a planned capacity of 240 beds. Funding will be via bank borrowings and equity contributions, with KCB committing RM105 million. — E&O partners Cengild Medical, Skyspring to build RM350m hospital at Andaman Island

Oil and gas support services provider Ocean Vantage Holdings Bhd (KL:OVH) is proposing to acquire construction firm Bina Gemilang Bersatu Sdn Bhd (BGB) for RM10 million as it seeks to diversify earnings amid weaker engineering, procurement and construction performance. The deal is a related-party transaction, as the company’s managing director Kenny Ronald Ngalin owns 50% of BGB, with the rest held by director George Henry. Ocean Vantage will issue up to 50 million new shares at 20 sen each as consideration. — Ocean Vantage to diversify into construction via related-party acquisition

Property developer TWL Holdings Bhd (KL:TWL) is acquiring a 45% stake in Fairise Odyssey (M) Sdn Bhd for RM42 million, as it seeks new revenue streams and support for future projects. The stake is being purchased via its subsidiary TWL Builders Sdn Bhd from Lam Boon Ling. The acquisition will be fully funded through internally generated funds and will not involve any liabilities. — TWL Holdings buys 45% stake in property investment firm for RM42 mil

Vestland Bhd (KL:VLB) has secured a RM65 million contract for piling and substructure works for a serviced apartment project at Jalan Pavilion, Kuala Lumpur. The contract was awarded to its wholly owned subsidiary Vestland Infra Sdn Bhd by Scanwolf Trading & Construction Sdn Bhd. The job covers the design and construction of foundation works for a 74-storey serviced apartment, including car parks, basement, shop lots and related facilities. — Vestland secures RM65 mil piling works contract in Kuala Lumpur

Prestar Resources Bhd (KL:PRESTAR) has announced the retirement of group managing director Datuk Toh Yew Peng and the appointment of Kenny Toh Jin Tat as his successor. The changes, effective Friday (June 19), are part of a planned leadership transition at the steel products manufacturer. Yew Peng, 73, will assume the role of senior adviser, where he will continue to provide guidance on strategy, business continuity and key stakeholder relations. Jin Tat, 50, currently an executive director, will take over as managing director with responsibility for the group’s overall management, performance and strategic direction. He is the son of major shareholder Toh Yew Keat. — Prestar Resources managing director Toh Yew Peng retires in leadership transition