Company News: Tenaga Nasional doubled capex

Binastra Corp Bhd is acquiring a 51% equity interest in LF Lansen Sdn Bhd for up to RM44.8mil in cash, to be paid in three stages.

ViTrox Corp Bhd said that its net profit jumped 40.2% in the first quarter from a year earlier, driven by stronger sales and a more favourable product mix. 

Tenaga Nasional Bhd

TNB has more than doubled its budgeted capital expenditure (capex) to RM42.9 billion – comprising RM26.6 billion in base capex and RM16.3 billion in contingent capex – to support infrastructure development for Malaysia’s energy transition.

Unisem (M) Bhd began the financial year with a 29% decline in first-quarter earnings from a year earlier, as margin pressure from rising costs offset revenue gain. 

Atlan Holdings Bhd’s fourth quarter net profit doubled, lifted by a RM16.76 million gain related to the compulsory acquisition of a subsidiary’s land in Kedah by the government.

Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2025 (1QFY2025) fell 8.6% to RM10.57 million from RM11.56 million a year ago, dragged by higher operating cost, which increased 9.7% to RM13.77 million from RM12.56 million. 

Pantech Global Bhd announced a special dividend of one sen after its fourth quarter net profit jumped 373% from the previous quarter, driven by a gain on bargain purchase and two months of earnings from newly acquired companies. 

Chin Hin Group Bhd completed its purchase of an additional 12.27% stake in Ajiya Bhd for RM54.2 million, raising its stake in the building materials maker to 66.36%.

Magma Group Bhd, which is primarily in hotel management and property development, announced the emergence of several new substantial shareholders on Thursday, including former national badminton player Datuk Lee Chong Wei. 

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IGB Real Estate Investment Trustand IGB Commercial Real Estate Investment Trust will see their former group chief financial officer Chai Lai Sim return from retirement to take the helm at both REITs. 

Steel Hawk Bhd has secured a three-year contract from Petronas Carigali Sdn Bhd for splash zone structural repairs and maintenance for Peninsular Malaysia and Sarawak assets. 

Perdana Petroleum Bhd said its wholly owned subsidiary Intra Oil Services Bhd (IOS) has been sued by Azsat Global Sdn Bhd, claiming RM6.7 million for loss of revenue after IOS terminated contracts for services of its vessels to Azsat.

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