KUALA LUMPUR (July 23): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:
YNH Property Bhd (KL:YNHPROP) is deferring RM34.41 million in coupon payments across two tranches under its perpetual securities programme to preserve cash for its ongoing developments, including Solasta Dutamas and its township projects in Seri Manjung. This marks the second time this year YNH Property has deferred coupon payments for both tranches. The first RM87 million tranche involves a RM7.87 million coupon payment originally due on July 30, 2026, which has been deferred to Jan 29, 2027. The second RM263 million tranche involves a RM26.54 million coupon payment originally due on Aug 7, 2026, which has been deferred to Feb 8, 2027. — YNH Property defers RM34.4m coupon payments to fund ongoing projects
MBSB Bhd (KL:MBSB) has divested its asset management arm, MIDF Amanah Asset Management Bhd (MAAM), to Tortoise Works Sdn Bhd — an entity led by MAAM chief executive officer Shan Kamahl Mohammad — saying it is part of a strategy to sharpen focus on its core banking business. This confirms an earlier report by The Edge Malaysia in May that Shan Kamahl was leading a management buyout of MAAM. Tortoise Works is a Kuala Lumpur-based business management consultancy firm incorporated in 2018, in which Shan Kamahl holds a direct 45% stake, according to Companies Commission of Malaysia records. — MBSB divests MIDF Amanah Asset Management to CEO-led Tortoise Works
Westports Holdings Bhd (KL:WPRTS) posted a 56% jump in its net profit to RM360.9 million in the second quarter ended June 30, 2026 (2QFY2026), from RM231.63 million, thanks largely to higher port tariffs and lower administrative expenses but cut its container volume guidance. Revenue rose 25% year-on-year to RM866.89 million. An interim dividend of 14.98 sen per share was declared, out of which 2.99 sen is subject to an optional dividend reinvestment plan. Westports now expects the overall container throughput to be “roughly the same as the previous year” compared to its previous guidance for “single-digit” growth provided in May. — Port tariff hike boosts Westports net profit by 56% in 2Q, volume guidance cut
Pavilion Real Estate Investment Trust (KL:PAVREIT) saw its net property income (NPI) rise 11.1% to RM142.28 million in 2QFY2026 from RM129.83 million a year ago, driven by higher rental income from its hotel assets and lower electricity expenses. The stronger quarterly performance was supported by rental income from Banyan Tree Kuala Lumpur and Pavilion Hotel Kuala Lumpur as well as stronger occupancy at Pavilion Bukit Jalil. Revenue was up 3.6% to RM221.01 million compared with RM213.34 million previously. It has proposed an interim distribution of 5.17 sen per unit, amounting to RM203 million. — Pavilion REIT 2Q property income up 11%, declares 5.17 sen DPU
KIP Real Estate Investment Trust (KL:KIPREIT) capped a record financial year on Thursday with its highest annual distribution since listing, as unitholders approved its RM435 million acquisition of Setapak Central Mall, paving the way for the retail-focused REIT’s next phase of growth. The proposed acquisition, together with a private placement of up to 220 million new units to partly fund the deal, is expected to lift KIP REIT’s assets under management to RM2.1 billion, exceeding its RM2 billion target ahead of schedule. For the fourth quarter ended June 30, 2026 (4QFY2026), KIP REIT's NPI increased 26.2% to RM35.41 million from RM28.05 million, while revenue rose 20.9% to RM48.22 million from RM39.89 million. The income distribution for the quarter was 2.03 sen per unit, against 2.01 sen a year earlier. — KIP REIT posts record FY2026 distribution, gets nod for Setapak Central deal
Alpha IVF Group Bhd's (KL:ALPHA) net profit declined 16.5% to RM13.9 million in the three months ended May 31, 2026 (4QFY2026) from RM16.07 million a year earlier, even as revenue edged up 2.4% to RM52.07 million from RM50.01 million. It declared a second interim dividend of 0.6 sen per share, bringing total dividends for FY2026 to 1.10 sen per share. — Expansion costs dent Alpha IVF's FY2026 net profit despite record revenue
Industrial chemicals and materials company Luxchem Corporation Bhd (KL:LUXCHEM) reported its highest quarterly earnings in five years, driven by stronger contributions from both its trading and manufacturing segments. Net profit for 2QFY2026 more than doubled to RM18.48 million from RM8.89 million a year ago. Quarterly revenue increased 7.97% year-on-year (y-o-y) to RM202.71 million — marking its highest since 4QFY2024, when it made RM205.94 million — from RM187.74 million posted in 2QFY2025. It declared an interim dividend of one sen per share. — Luxchem’s net profit surges to five-year high in 2Q on stronger trading, manufacturing performance
Kerjaya Prospek Group Bhd (KL:KERJAYA) has secured a RM52.5 million subcontract to undertake civil, structural and basic low-voltage mechanical and electrical (M&E) works for a new 275-kilovolt consumer landing station serving a data centre in the Klang Valley. The project commenced on Thursday, July 23, and is scheduled for completion by Jan 9, 2027. — Kerjaya Prospek bags RM53m data centre-related M&E contract
Sarawak-based Zecon Bhd’s (KL:ZECON) subsidiary has received a RM328 million contract to develop a 100 megawatt (MWac) agrivoltaics solar photovoltaic facility at the Kota Petra Green Technology Park in Sarawak. Its unit Zecon Renewables Sdn Bhd received the engineering, procurement, construction and commissioning (EPCC) contract from sister company Zecon Renewables (Sarawak) Sdn Bhd. Zecon Renewables (Sarawak) is the independent power producer for the project and holds a 30-year electricity licence for solar power. — Zecon unit bags RM328m EPCC contract for Sarawak agrivoltaics solar project