KUALA LUMPUR (Aug 12): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Sunway REIT (KL:SUNREIT) raised distribution per unit by nearly 11% as property income expanded in the second quarter ended June 30, 2026 (2QFY2026) with better revenue from shopping malls and hotels. Net property income for 2QFY2026 rose 5.2% to RM162.98 million from RM154.9 million a year earlier as rentals grew faster than expenses. Quarterly revenue rose 4.23% to RM220.35 million, from RM211.41 million. The real estate investment trust owns and manages a diversified portfolio of 28 properties, including the flagship Sunway Pyramid Mall, hotels, offices, hypermarkets and industrial properties, worth more than RM10 billion combined. — Sunway REIT raises payouts as property income grows

Malaysia Smelting Corp Bhd’s (KL:MSC) second quarter net profit more than doubled to RM34.02 million, from RM13.95 million a year earlier, helped by higher refined tin sales and prices, as well as improved efficiency from its mining and smelting operations, particularly at its facility in Pulau Indah, Selangor. Its quarterly revenue jumped 68.2% to its decade high of RM637.27 million, from RM378.96 million. No dividend was declared for the quarter under review. Co-CEO Nicolas Chen Seong Lee highlighted that tin prices remained elevated amid supply constraints in major producing countries, including Indonesia, Myanmar and the Democratic Republic of the Congo. Demand for tin will remain supported by applications in artificial intelligence (AI), data centres, semiconductors, photovoltaic panels and energy-transition technologies, Chen added. — Malaysia Smelting Corp's 2Q profit more than doubles on higher tin prices, sales

Information and communications technology (ICT) distributor VSTEC Bhd (KL:VSTECS) posted a 50% year-on-year (y-o-y) jump in net profit to RM RM30.31 million for 2QFY2026, from RM20.17 million a year earlier, driven by broad-based growth across its business segments and higher public sector project deliveries. Revenue grew 31.7% to RM1.08 billion from RM818.87 million. No dividend was declared for the quarter under review. — VSTECS’ 2Q net profit jumps 50% on broad-based growth, higher public sector project deliveries

Industronics Bhd (KL:ITRONIC) has lodged a police report and removed former executive director Liu Wing Yee Amy from all positions in the group after identifying more than HK$96 million in trade receivables concentrated among a small number of customers at its Hong Kong subsidiary, ECGO International Ltd. ECGO is Industronics’ only active Hong Kong subsidiary and it trades watches and provides cloud computing services, contributing HK$73.11 million (RM39.65 million) to the group in the financial year ended Dec 31, 2025 (FY2025), down from HK$91.06 million in FY2024 due mainly to weaker watch sales. — PN17 firm Industronics files police report over HK$96m receivables at Hong Kong unit

Kerjaya Prospek Group Bhd (KL:KERJAYA) has secured a RM223 million contract from Sunway Majestic Sdn Bhd to build a small office or home office (SOHO) development in Johor Bahru. The latest award brings the construction group’s year-to-date contract wins to RM2.4 billion, surpassing its initial RM2 billion target for 2026. Its outstanding order book stands at RM5 billion. The development, located along Jalan Yahya Awal in Johor Bahru, comprises 1,012 SOHO units across two 34-storey buildings, with 540 units in one block and 472 units in the other. It will also include a 10-level podium car park, two levels of mezzanine commercial space and two levels of facilities. — Kerjaya Prospek bags RM223 mil Johor Bahru contract from Sunway Majestic

Southern Score Builders Bhd (KL:SSB8) has secured another subcontract for a data centre, this time worth RM105 million in Puncak Alam, Selangor. Its 51%-owned subsidiary, SJEE Engineering Sdn Bhd, on Wednesday accepted a letter of award from an unnamed local construction company to undertake the data centre project described as “Electrical Package #3 (MV02 & MV03)”. The remaining 49% in SJEE Engineering is owned by engineer-turned-businessman Ngo Hea Bing. — Southern Score Builders' unit bags another data centre-related job, this round worth RM105 mil

Eita Resources Bhd’s (KL:EITA) unit EITA Elevator (Malaysia) Sdn Bhd has accepted a letter of award (LOA) from Prasarana Malaysia Bhd for a works contract worth RM62.3 million. The contract involves the proposed upgrading of existing lifts and escalators at Light Rail Transit (LRT) stations from Gombak to Kelana Jaya including the Subang depot of the Kelana Jaya Line. — Eita Resources bags RM62.3 mil works contract from Prasarana

PTT Synergy Group Bhd's (KL:PTT) unit PTT Development Sdn Bhd (PTTD) has entered into five separate sale and purchase agreements (SPAs) with Koperasi Kakitangan Bank Rakyat Bhd (Sekatarakyat) for a total consideration of RM260 million. Under the agreements, PTTD will sell, while Sekatarakyat will purchase, five industrial warehouse units at RM52 million each upon completion. PTTD will undertake the development and construction of five industrial warehouses on 20 individual parcels of freehold land in Pontian, Johor. — PTT Synergy secures RM260 mil warehouse deals with Sekatarakyat

Binasat Communications Bhd (KL:BINACOM), in which businessman Datuk Eddie Ong holds a 29.82% stake, has terminated a RM73 million acquisition of 241 units of fully furnished hotel suites in Empire City, Damansara Perdana, from Cosmopolitan Avenue Sdn Bhd (CASB). The termination comes after Binasat obtained a fourth extension in May to settle its outstanding cash payment obligations relating to two acquisitions. Binasat intended to buy the hotel suites in Empire City for RM73 million and shop offices valued at RM8.34 million in Sazean Business Park in Klang. The deadline was extended to Aug 16 from May 17, with RM22.29 million still outstanding out of the RM33.83 million cash payment obligation at the time. Binasat said that it will receive a refund of RM32.19 million, and the sum will be utilised towards its new businesses and/or other purposes. — Binasat terminates RM73 mil deal to buy hotel suits in Empire City