Latest news with #DatinLinChingYein
The Star
2 days ago
- Business
- The Star
Trading ideas: SunCon, Vestland, PeterLabs, TWL, UEM Edgenta, IJM, Genting, Carlsberg, KPJ, QL, Farm Fresh, IHH, LHI
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Sunway Construction Group Berhad has secured two work orders valued at RM1.2bn to undertake general contractor services for two data centre projects awarded by a US-based technology company. Vestland Bhd has accepted a letter of award from Mercu Majuniaga Sdn Bhd for construction work to a 51-storey serviced apartment at Lorong Raja Uda 2, Kuala Lumpur, worth RM156.9mn. Peterlabs Holdings Bhd has filed a lawsuit against its non-independent non-executive director Datin Lin Ching Yein and substantial shareholder Bu Yaw Seng, amid an intensifying boardroom tussle, to block their bid to call for an extraordinary general meeting. TWL Holdings Bhd 's unit, TWL Avenue (Kapar) Sdn Bhd, has secured RM67.6mn in credit facilities from Alliance Bank Malaysia Bhd for its affordable housing project in Kapar, Selangor. UEM Edgenta Bhd has secured an order book worth RM1.1bn in 1QFY25, bringing the company's cumulative order book to RM9.3bn as at FY25. For 4QFY25, IJM Corp Bhd 's net profit dipped to RM129mn from RM305.5mn in the previous corresponding period, while revenue rose to RM1.79bn from RM1.76bn a year earlier. Genting Bhd net profit shrank to only RM4.6mn for 1QFY25 from RM588.9mn a year ago due to lower quarterly revenue, which fell 12.4% to RM6.5bon from RM7.4bn in 1QFY24. Carlsberg Brewery Malaysia Bhd reported an 8.7% YoY lower revenue of RM662.8mn, impacted by the shorter Chinese New Year timing, but a 7.5% YoY higher net profit of RM94.5mn on for 1QFY25 KPJ Healthcare Bhd net profit fell 20% YoY to RM57.1mn, in 1QFY25, dragged by losses in its overseas operations, coupled with the absence of discontinued operations' contribution in Australia. In 4QFY25, QL Resources Bhd posted a lower net profit of RM93.9mn, bringing its full-year net profit to RM455.6mn. A slew of new products from ice cream to butter and lower input cost lifted Farm Fresh Bhd net profit to a new record high of RM27.7mn in 4QFY25, a 15% YoY increase. IHH Healthcare Bhd has recorded a drop in net profit to RM514mn in 1QFY25 from RM768mn in 1QFY24. In 1QFY25, Leong Hup International Bhd 's net profit jumped 80% to RM101.8mn against RM56.6mn in the year-ago quarter.
New Straits Times
3 days ago
- Business
- New Straits Times
PeterLabs seeks court order to halt EGM aimed at board shake-up
KUALA LUMPUR: PeterLabs Holdings Bhd has filed a lawsuit against its non-independent non-executive director Datin Lin Ching Yein and substantial shareholder Bu Yaw Seng, amid an intensifying boardroom tussle. In a filing with Bursa Malaysia, the company said the legal action is intended to block their bid to call for an extraordinary general meeting (EGM), which seeks to remove existing board members and appoint new ones. PeterLabs said it has commenced legal proceedings in the Seremban High Court to declare the May 15 requisition notice invalid, arguing that it is not in the best interest of the company. It has also filed for an interlocutory injunction to restrain Bu and Lin from convening or conducting the proposed EGM, pending a final court ruling. The requisition was submitted under the Companies Act 2016, accompanied by special resolutions to alter the composition of the board. The group said its board, after obtaining legal advice, resolved not to convene the EGM, stating the proposed resolutions were not aligned with the interests of the company or its stakeholders. Yesterday, PeterLabs announced that the group and its subsidiary Thye On Tong Trading Sdn Bhd had initiated legal proceedings against Lin and suspended executive director Datuk Loh Saw Foong. This follows earlier disclosures made on May 13 and May 26, 2025, regarding Loh's suspension over alleged breaches of fiduciary duty. The group is seeking various declaratory reliefs and damages as part of the legal action.
