KUALA LUMPUR (Aug 21): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Tan Sri Ismail Bakar is retiring as chairman of Bank Islam Malaysia Bhd (KL:BIMB) after six years at the helm of the company. His resignation will take effect on Aug 22. He was appointed as a chairman of the Islamic lender in August 2020. — Bank Islam chairman Ismail Bakar retires after six years at helm

Chin Keat Chyuan is stepping down as president and managing director of KPJ Healthcare Bhd (KL:KPJ) on Sept 1, ending a three-year tenure at the helm of Malaysia’s largest private hospital operator. Chin is resigning to pursue other interests. Professor Datuk Dr Hanafiah Harunarashid, the group’s chief medical director, will serve as officer-in-charge pending the appointment of a new president and managing director. — Chin Keat Chyuan to step down as KPJ Healthcare MD after three years

Khee San Bhd (KL:KHEESAN) said six bank accounts belonging to its unit Khee San Food Industries Sdn Bhd have been frozen following an investigation under Malaysia’s anti-money laundering law. The company did not identify the bank. The accounts are actively used to support the group’s day-to-day operations, and the freeze is expected to cause some disruption to the group’s operations. — Khee San unit's bank accounts frozen following money laundering probe

Bintulu Port Holdings Bhd (KL:BIPORT) has entered into a heads of agreement with the Sarawak government to establish an interim operating framework as the port transitions from federal to state control. The agreement between its wholly-owned Bintulu Port Sdn Bhd, the Sarawak government and Bintulu Port Authority — which took effect on July 27 — is to ensure that port operations continue without interruption while the parties finalise a long-term Port Operation Concession Agreement. — Bintulu Port inks interim agreement with Sarawak to ensure uninterrupted port ops, posts lower 2Q profit

Sunway Construction Group Bhd (KL:SUNCON) has secured RM1.04 billion worth of orders to provide mechanical, electrical and plumbing fit-out works for two projects from a multinational technology company based in the US. The works are scheduled to commence immediately and be completed by March 2028. The identity of the client was not disclosed, nor was the exact location of the projects. — Sunway Construction bags RM1.04b engineering work contracts from US tech firm

FBG Holdings Bhd (KL:FBG) is seeking to withdraw from the joint development of the Medi-City project in Batu Kawan, Penang. The group has written to the Penang Development Corp to cease proceeding with the collaboration under a master purchase and development agreement it had entered. The project is a proposed comprehensive development incorporating healthcare and wellness into residential, retail and commercial components. — FBG to pull out of Medi-City project in Penang

AEON Co (M) Bhd (KL) (KL:AEON) reported a 15.7% increase in its second-quarter net profit, thanks to tighter cost controls and improved operational efficiency. Net profit rose to RM14.2 million despite revenue staying largely unchanged at RM995.33 million. No dividend was declared with the quarterly results. — AEON 2Q net profit rises 15% on better cost controls, efficiency

Allianz Malaysia Bhd (KL:ALLIANZ) recorded a modest increase in second-quarter net profit as higher insurance revenue from both its general and life insurance businesses supported earnings. Net profit rose 2.2% to RM218.66 million, while its insurance revenue rose 7.2% to RM1.63 billion. No dividend was declared for the quarter. — Allianz Malaysia's 2Q net profit edges up 2% as insurance revenue rises

Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) logged its best quarterly profit in two years thanks to strong project activity in its heavy engineering segment. Net profit for 2QFY2026 jumped nearly six times to RM60.59 million as revenue more than doubled to RM986.73 million. MHB did not declare any dividend for the quarter. — Heavy engineering unit lifts MHB to best quarterly profit in two years

Velesto Energy Bhd (KL:VELESTO) reported that its second-quarter earnings were nearly wiped out by expenses amid lower income, though the firm expects better times ahead. Net profit was just RM531,000. Only two-thirds of its rigs were drilling while average daily charter rates fell 16%, dragging revenue down 23% to RM154.03 million. Velesto declared an interim dividend per share of 0.25 sen, bringing the total announced so far this year to one sen per share. — Velesto 2Q profit nearly wiped out by expenses, expects stronger quarters ahead

Aluminium extrusion manufacturer PA Resources Bhd (KL:PA) closed its financial year with a strong fourth quarter, as net profit tripled on the back of record quarterly revenue, fuelled by higher sales orders. Net profit for 4QFY2026 surged to RM18 million while revenue rose 25.2% to RM204.83 million. The group declared an interim dividend of 0.5 sen per share, payable on Oct 30. — PA Resources 4Q profit triples, declares half a sen dividend

Far East Holdings Bhd (KL:FAREAST) saw its second-quarter net profit drop 35.4%, as lower contributions from associates, together with lower harvest and production volumes, outweighed higher crude palm oil and palm kernel prices. Its net profit came to RM32.29 million, following a 33.5% drop in its share of profit from associates. Revenue declined 5.3% to RM229.57 million mainly due to a 26% drop in fresh fruit bunch (FFB) production to 66,430 tonnes, while FFB processed by its mills fell 27% to 168,520 tonnes. An interim dividend of six sen per share was declared with the quarterly results, to be paid on Sept 21. — Far East 2Q profit falls 35% on lower associate contributions, yields; declares six sen dividend

NationGate Holdings Bhd's (KL:NATGATE) second-quarter net profit plunged 79% as earnings normalised from a high base a year earlier, following significantly lower contributions from its data computing business. The electronics manufacturing services provider nevertheless maintained its interim dividend at 0.25 sen per share, payable on Sept 22. Net profit for 2QFY2026 fell to RM10.90 million, mainly due to a reduction in sales from the data computing segment and less favourable foreign-exchange movements. Revenue, meanwhile, declined 32% to RM1.77 billion from RM2.60 billion. — NationGate's 2Q profit falls sharply as data computing orders normalise

Cuckoo International (MAL) Bhd (KL:CKI) reported a marginal increase in second-quarter net profit amid a fall in revenue, as softer consumer demand led to lower units sold. Net profit for the quarter rose 3.19% to RM28.22 million, while revenue declined 19.81% to RM245.93 million. No dividend was declared during the quarter. — Cuckoo Malaysia posts slight rise in 2Q net profit, revenue hit by softer demand