KUALA LUMPUR (June 26): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:
Rohas Tecnic Bhd (KL:ROHAS) said the Malaysian Anti-Corruption Commission has revoked all seizure orders imposed on the bank accounts of its subsidiary, HG Power Transmission Sdn Bhd (HGPT), as well as the personal bank accounts of the unit's current officer and former officers. HGPT, together with its current officer and former officers, received the revocation orders on June 26. — MACC lifts seizure orders on Rohas Tecnic unit's bank accounts
Pentamaster Bhd (KL:PENTA) said UK-based Ocado Group plc has dropped its patent infringement suit against the group and its units without liberty to file afresh. The dispute, which kicked off with the suit initiated in December 2024, centred on Ocado alleging Pentamaster infringed on its patents relating to warehouse automation and robotics. — UK-based Ocado drops patent infringement suit against Pentamaster
Bermaz Auto Bhd (KL:BAUTO) has scrapped an agreement to distribute Deepal-branded electric vehicles in Malaysia after failing to finalise the commercial terms. The immediate termination with brand owner Chongqing Changan Automobile Co Ltd was mutual, and Bermaz Changan Sdn Bhd, the unit set up for the business, never started operations since its incorporation in November 2024. — Bermaz Auto abandons Deepal EV distribution initiative
Silver Ridge Holdings Bhd's (KL:SRIDGE) has announced the resignation of three board members as part of the telecommunication infrastructure installer’s succession planning and leadership transition. Effective Friday (June 26), group managing director Datuk Khoo Yik Chou, deputy group managing director Syauqat Mohd Suhaimi and executive director Syakur Mohd Suhaimi have stepped down from their posts. — Silver Ridge managing director, two other board members resign amid succession planning
GIIB Holdings Bhd (KL:GIIB) is in talks to invest in the exclusive Malaysian distributor of traditional Chinese medicine and food products marketed under the Wonlucky brand, Tricrest Foodie Trading Sdn Bhd. A memorandum of understanding was inked between GIIB’s unit and Tricrest for a potential subscription of new shares in the company. A conditional share subscription agreement will be negotiated between the parties, with GIIB expecting to execute the definitive agreement within 90 days. — GIIB explores investment in distributor of traditional Chinese medicine and food products
Vestland Bhd (KL:VLB) has won a construction contract worth RM135 million under an industrial development project in Bukit Raja, Klang. The contract from Golden Armani Sdn Bhd involves superstructure works for one block of nine-storey factory and the related facilities. Works are expected to be completed within 36 months from the start date to be notified later. — Vestland wins RM135 mil construction job in Klang
Econpile Holdings Bhd (KL:ECONBHD) has bagged a RM48.8 million piling contract for a 74-storey serviced apartment project at Jalan Pavilion. Its wholly owned subsidiary Econpile (M) Sdn Bhd received the letter of award from Vestland Bhd’s (KL:VLB) wholly owned unit Vestland Infra Sdn Bhd. The project will be completed within 16 months, with site operations commencing on July 7 and are targeted for completion in November 2027. — Econpile bags RM49 mil piling job in KL
Axis Real Estate Investment Trust (KL:AXREIT) said its trustee, RHB Trustees Bhd, is buying a distribution centre located in Bandar Saujana Putra, Selangor from logistics and courier company City-Link Express (M) Sdn Bhd for RM128 million cash. Axis REIT said the deal is a sale-and-leaseback transaction that will extend the tenant’s occupancy of the distribution centre for 15 years. The property, a 355,023 sq ft distribution centre, is currently fully occupied by City-Link Express and serves as one of its logistics hubs. — Axis REIT to buy distribution centre from City-Link Express for RM128m cash
AYS Ventures Bhd (KL:AYS) plans to sell its controlling stake of 74% in Singapore-based steel products trader Steelaris Pte Ltd in a deal valued at S$6.3 million (RM19.91 million) to CosmoSteel Holdings Pte Ltd, a Singapore-based distributor of piping and system components. The deal also includes the sale of two minority shareholders’ combined 16% interest, which would give CosmoSteel a 90% stake in Steelaris upon completion. — AYS Ventures to sell controlling stake in Steelaris to CosmoSteel
Jentayu Sustainables Bhd (KL:JSB) is exiting the healthcare business by divesting its entire stake in Ultimate Forte Sdn Bhd, which operates the 30-bed Ohana Specialist Hospital in Kuala Lumpur, to Lourdes Medical Centre for RM1.75 million. It acquired the hospital for RM18 million in February 2022. The company said the divestment is part of its plan to focus on its core renewable energy business. — Jentayu to sell Ohana Specialist Hospital to Lourdes Medical Centre, exit healthcare business
Systech Bhd (KL:SYSTECH) is proposing to change its name to WTS Capital Bhd as well as undertake a RM40 million share capital reduction exercise. The rebranding exercise is intended to better align its corporate identity with its future direction, while the share capital reduction exercise is to offset accumulated losses. — Systech to change name to WTS Capital, seeks RM40 mil share capital reduction
PJBumi Bhd (KL:PJBUMI) has proposed a one-for-five share split to improve trading liquidity and broaden its investor base by lowering the trading price of its shares. Under the proposal, each existing ordinary share will be subdivided into five shares, expanding the engineering firm's issued share capital to 410 million shares from 82 million. — PJBumi proposes one-for-five share split to boost trading liquidity
Industronics Bhd’s (KL:ITRONIC) shareholders have rejected three of nine ordinary resolutions tabled at the company’s 50th annual general meeting. The rejected resolutions include proposals to approve directors’ fees and the re-election of independent non-executive director Chow Yun Cheung. Other resolutions that failed were the proposed payment of additional directors’ fees amounting to RM139,000 for the period from July 1, 2024, until the conclusion of the 2026 AGM, as well as directors’ fees of RM300,000 for the period from June 27, 2026, until the next AGM. — Industronics shareholders reject directors’ fee, re-election of independent director at AGM
United Malacca Bhd’s (KL:UMCCA) net profit for the fourth quarter ended April 30, 2026 was largely flat at RM23.17 million, compared to RM23.23 million a year earlier, as increased revenue from its Malaysian and Indonesian operations was offset by impairment charges and a higher effective tax rate. Quarterly revenue rose 9.8% year-on-year to RM200.44 million. For the full year, United Malacca's net profit surged 50% to RM144.68 million, while revenue climbed 14.4% to RM813.42 million. United Malacca declared a final dividend of 13 sen per share. — United Malacca posts flat 4Q earnings, pays 13 sen dividend
Insights Analytics Bhd (KL:IAB) has reported a net profit of RM41.47 million on revenue of RM172.57 million for the financial year ended April 30, 2026. There are no comparative figures for the preceding year as this is the Sarawak-based technology company's first full-year results since its listing on the ACE Market. — Insights Analytics posts RM41.5m net profit in first full-year results since listing