KUALA LUMPUR (Oct 7): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:
CIMB Group Holdings Bhd (KL:CIMB) is exploring a sale of its business in the Philippines as part of efforts to streamline and focus on bigger markets for growth, according to people with knowledge of the matter. The Malaysian lender is working with a financial adviser on the potential divestment and has reached out to prospective buyers to gauge interest, said the people. A deal could value the business at as much as US$200 million (RM817 million). — CIMB considers selling Philippine business — Bloomberg
Zetrix AI Bhd (KL:ZETRIX) said the exact amount it owes the Road Transport Department (JPJ) is still being finalised between the two parties, a day after Transport Minister Anthony Loke Siew Fook said the company had accumulated RM314 million in unpaid remittances. In response to queries from Bursa Malaysia, the group reiterated that it had submitted a payment proposal to settle the arrears, and that the final sum and settlement terms remain subject to further discussions and formal agreement with authorities. — Zetrix says still finalising amount owed to JPJ after Loke reveals RM314m arrears
Top Glove Corporation Bhd (KL:TOPGLOV) said labour shortage remains a primary constraint in scaling up production as it seeks to capture rising global demand following its best year since 2021. The group is targeting to raise annual running capacity by 8% to 78 billion pieces in the financial year ending Aug 31, 2027 (FY2027), from 72 billion in FY2026. The group’s net profit jumped nearly five times to RM157.63 million in the three months ended Aug 31, 2026 (4QFY2026) from RM34.83 million in the same quarter a year earlier. Revenue for the quarter surged 40% year-on-year to RM1.25 billion. A final dividend of 1.50 sen per share was also declared for FY2026 and payable on Dec 15. For the full FY2026, Top Glove’s net profit nearly tripled to RM307.96 million. Revenue increased 21% to RM4.23 billion as volume grew close to 30%. — Top Glove eyes higher output but says manpower remains key hurdle; Top Glove says ready for storms ahead as 4Q net profit jumps nearly five times
Samaiden Group Bhd (KL:SAMAIDEN) said its contracts to undertake works for a 99.99-megawatt (MW) Large Scale Solar 5+ (LSS5+) project are worth RM238 million. Samaiden's wholly-owned subsidiary Samaiden Sdn Bhd had on Oct 2 entered into a works contract and a contract for the supply of solar components with Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (YTL Construction), the construction unit of YTL Corporation Bhd (KL:YTL). The project is among the LSS5+ projects approved by the Energy Commission in September 2025. — Samaiden reveals RM238 mil contract value for LSS5+ solar project
Mesiniaga Bhd (KL:MSNIAGA) has won a RM32.3 million contract from the Royal Malaysian Customs Department (RMDC) for the maintenance and licence renewal of its MyGST System. The contract marks a continuation of the information technology product and service provider’s earlier MyGST system agreement with RMCD that first started in November 2023. The new extension, which takes effect from Oct 16, 2026, will run until Oct 15, 2028. — Mesiniaga wins two-year RM32.3m contract extension from Customs Dept
Scientex Bhd (KL:SCIENTX) is acquiring 503 acres in Pulai, Johor, for RM580 million to boost the property developer’s land bank. The plan is to turn the 14 plots of land currently owned by the Lau family of Leong Hup International Bhd (KL:LHI) into mixed development, the company said. However, it is too early to determine development value and other details, it noted. — Scientex to acquire 503 acres in Johor for RM580 mil
Dialog Group Bhd (KL:DIALOG) said its 50.01%-owned joint venture company has been awarded concession rights and operatorship for the L8/66 exploration block onshore Thailand. The joint venture company, Pan Orient Energy (Siam) Ltd (POES), was notified by the Thai government on Oct 5 that it had been awarded the concession following a joint bid with CanAsia Energy Corp in Thailand’s 25th Onshore Bid Round. POES will operate the concession with a 70% participating interest, while Canada-listed CanAsia will hold the remaining 30% non-operating interest. — Dialog JV bags onshore O&G concession in Thailand
Elridge Energy Holdings Bhd (KL:ELRIDGE) is investing RM45 million to venture into the manufacturing and sale of activated carbon business for use across water treatment, industrial purification and related filtration. This marks Elridge's move further downstream from its existing palm kernel shell biomass operations. Elridge said its wholly-owned subsidiary Lumeria Power Sdn Bhd (LP) had accepted a quotation from United Equipment Services (M) Sdn Bhd for the acquisition, installation and commissioning of six integrated activated carbon production chains for RM45 million in cash. — Elridge Energy invests RM45m to venture into activated carbon business
Insights Analytics Bhd (KL:IAB), which mainly provides asset management systems to water utilities, has secured a RM14.44 million subcontract to construct a water treatment plant in Sarawak's Miri division. The contract involves the construction, operation and maintenance of the Suai water treatment plant, which will have a capacity of seven million litres per day, as part of a project aimed at addressing acute water supply shortages in the Suai area. The construction is scheduled to begin on Oct 13 and to be completed by April 10, 2027, followed by a 60-month operation and maintenance period. — Insights Analytics secures contract for Suai water treatment plant in Miri
Building construction contractor SLGC Bhd (KL:SLG) ended its first trading day on the ACE Market below its initial public offering (IPO) price. The construction firm’s shares closed at 25 sen on Tuesday, three sen or 10.71% lower than the IPO price of 28 sen per share, after hitting an intra-day low of 24 sen as more than 83 million shares exchanged hands. At the closing price, the company based in Johor had a market capitalisation of RM140 million. Ahead of the listing, SLGC shares were oversubscribed by just over three times by retail investors, while a portion of the IPO was undersubscribed and had to be reallocated to other investors. — Construction firm SLGC ends first trading day below IPO price