Latest news with #RM1.0bn
The Star
4 days ago
- Business
- The Star
Trading ideas: Maybank, CIMB, Hartalega, Infomina, CBH, Citaglobal, KJTS, Carzo, Aizo, Fajarbaru, Dengkil, Lotte, Frontken
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Malayan Banking Bhd has entered into a five-year, RM1.0bn partnership with Microsoft to accelerate its digital transformation. CIMB Group Holdings Bhd has no immediate plans for an initial public offering of TNG Digital Sdn Bhd, which has turned profitable earlier this year and attained unicorn status. Hartalega Holdings Bhd has received a notice of additional assessment amounting to RM101.4mn from the Inland Revenue Board for the assessment years from 2017 to 2022. Its net profit dropped 60.1% YoY to RM12.6mn in 1QFY26, from RM31.9mn a year earlier, due to lower average selling prices and sales volumes. Infomina Bhd announced that its 99.9%-owned subsidiary, Infomina Philippines Inc, has filed a PHP1.7bn (RM133.0mn) lawsuit against the Bank of Philippine Islands over the alleged wrongful termination of a software purchase and maintenance agreement in 2021. CBH Engineering Holdings Bhd has secured a RM194.7mn contract for the engineering, procurement, construction, and commissioning of a 275kV electrical supply system for a proposed data centre in Selangor. Citaglobal Bhd has proposed a RM40.0mn acquisition of a 12.8% indirect stake in Mutiara Perlis Sdn Bhd, the master developer of the RM27.8bn Perlis Maritime Corridor. KJTS Group Bhd has secured a RM13.0mn contract to provide facility management services at Marlborough College Malaysia in Johor. Carzo Holdings Bhd has been hit with two default judgments totalling nearly RM6.0mn, after Maybank Islamic Bhd initiated legal proceedings against its subsidiaries over unpaid banking facilities. AIZO Group Bhd has re-entered the property development sector through a joint venture with Lestari Astana Sdn Bhd. Fajarbaru Builder Group Bhd has changed its name to FBG Holdings Bhd, effective Friday, Aug 8, 2025. The stock short name will be changed to FBG, while the stock codes will remain unchanged. Wawasan Dengkil Holdings Bhd announced it will hold a 70% stake in a joint venture with Terengganu-based Twin Hi-Technologies Sdn Bhd for the Silica Project awarded to the consortium in early July. Lotte Chemical Titan Holding Bhd saw its net loss for 2QFY25 narrow to RM173.1mn from RM248.9mn a year ago, due to lower distribution and administration expenses as well as a one-off insurance claim. Frontken Corporation Bhd reported a marginally higher net profit of RM33.5mn for 2QFY25, compared to RM33.3mn a year earlier, as currency losses offset a sharp increase in revenue.
The Star
06-05-2025
- Business
- The Star
Trading ideas: Gamuda, Maybank, Vizione, Majuperak, TAS, West River, Hi Mobility, Evergreen, HeiTech Padu, Genetec, Tan Chong, Ekovest, MR DIY, Frontken
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Gamuda Bhd , via its indirect subsidiary Gamuda DC Infrastructure Sdn Bhd, has entered into contracts with Pearl Computing Malaysia Sdn Bhd to dispose of 157.4 hectares of land in Port Dickson, Negeri Sembilan, for RM455.2mn. Subsequently, it will undertake enabling works worth RM1.0bn on the land for Pearl Computing's data centre development. Malayan Banking Bhd together with its client ONE KL Management Sdn Bhd, has secured the first pilot single family office establishment under the Malaysian Single Family Office scheme in the Forest City Special Financial Zone. Vizione Holdings Bhd has clarified that its RM750.0mn construction contract with Fields of Forest Sdn Bhd was terminated amicably due to prolonged uncertainties in project planning and financing. Majuperak Holdings Bhd has launched Taman Tasik Ardea, a RM141.0mn residential development in Batu Gajah, Perak, offering 601 affordable homes across three phases. TAS Offshore Bhd has bagged a RM38.0mn shipbuilding contracts for 6 tugboats from 2 new customers in Indonesia. West River Bhd has accepted a RM13.9mn sub-contract from China Railway Engineering Corporation (M) Sdn Bhd for electrical and generator set installation works at a high-rise residential development in Kuala Lumpur. HI Mobility Bhd has received a letter from Perbadanan Pengangkutan Awam Johor for a nine-month extension of intracity bus services operation in Johor worth RM8.2mn. Evergreen Max Cash Capital Bhd announced that its subsidiary has secured a RM40.0mn loan from CIMB Bank to fund its pawnbroking business. Heitech Padu Bhd has appointed Syed Omar Albar Syed Abdullah as group chief executive officer effective May 26, 2025. Chen Khai Voon has ceased to be a substantial shareholder of Genetec Technology Bhd after he sold 8mn shares, or a 1.03% stake. Tan Chong Motor Holdings Bhd is set to introduce the Chinese automotive marque Wuling to the Malaysian market under the brand name TQ Wuling, marking the group's latest foray into the electric vehicle segment. Ekovest Bhd said the government has approved the construction of two links under Phase 2A of the Duta-Ulu Kelang Expressway. Lotte Chemical Titan Holding Bhd narrowed its net loss to RM125.7mn for 1QFY2025, from RM178.0mn a year earlier, driven by better margins, lower depreciation, and contributions from its 40.0%-owned associate, Lotte Chemical USA. MR DIY Group (M) Bhd 's net profit in 1QFY25 jumped 20.2% YoY to RM174.2mn from RM144.9mn a year ago, mainly driven by higher gross profit. Frontken Corporation Bhd 's net profit in 1QFY25 jumped 3.4% YoY to RM31.1mn from RM30.1mn a year ago, mainly driven by higher profit from its semiconductor business and lower surtax.
