Trading ideas: Sunway, KPJ, IHH, FGV, Mulpha, SCIB, MBSB, Green Ocean, Destini, Jati Tinggi

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Sunway Property, the property arm of Sunway Bhd, through its joint-venture subsidiary Sunway Rawang City Sdn Bhd, has entered into a sale and purchase agreement to acquire approximately 99.6 acres of freehold land in Kuang, Selangor, for RM65.1mn.

KPJ Healthcare Bhd is reviewing its overseas operations, particularly in Dhaka, Bangladesh, as part of an ongoing portfolio reassessment to maximise shareholder value.

IHH Healthcare Bhd has launched a SGD5.0mn research grant and innovation sandbox to drive clinical research and innovation across its global network.

Kenanga Investment Bank Bhd, acting as the independent adviser, has recommended that shareholders of FGV Holdings Bhd accept the RM1.30-per-share offer from the Federal Land Development Authority.

Mulpha International Bhd group will get AUD339.3mn from its 15.2% stake in Australian retirement operator Aveo Group, which it had to sell under a tag-along arrangement.

Sarawak Consolidated Industries Bhd is undertaking a renounceable rights issue with free detachable warrants to raise up to RM53.5mn, alongside a proposed RM110.0mn capital reduction.

MBSB Bhd group chief executive officer Rafe Haneef said the financial institution aims to grow its loan book to RM50.0bn by FY26, from approximately RM43.0bn in FY24.

Green Ocean Corporation Bhd said it is unaware of any rumours, reports, or developments related to its business that could explain the unusual market activity.

Destini Bhd has secured a RM71.0mn contract from the Transport Ministry to carry out Level 3 maintenance, repair and overhaul works for 9 electric train sets.

Jati Tinggi Group Bhd has secured a RM54.2mn award from Worktime Engineering Sdn Bhd for work on a 132-kilovolt underground cable for the main intake substation in Taman Melawati, Kuala Lumpur.

Powerwell Holdings Bhd has secured a purchase order worth RM8.3mn from PT Duta Listrik Graha Prima to supply low-voltage switchboards for a data centre project in Indonesia.

Eduspec Holdings Bhd has accepted a letter of award from EG Industries Bhd to provide independent testing services for 5G optical modules and related components, valued at RM40.0mn.

SumiSaujana Group Bhd has accepted a letter of award from Sarawak Shell Bhd to provide specialised chemicals and associated services for the Rosmari and Marjoram gas fields off Bintulu, Sarawak.

Yong Tai Bhd is acquiring Sabah-based property developer Sumberjaya Builders Sdn Bhd for RM15.0mn, as it aims to tap into development opportunities in Lahad Datu and Tawau.

Jentayu Sustainables Bhd plans to acquire a 51.0% stake in Jentayu Solar Sdn Bhd for RM5.9mn and raise up to RM48.8mn through a private placement of 119.4mn new shares to support its renewable energy project in Sabah.

UEMS Pte Ltd, a Singapore-based wholly owned subsidiary of UEM Edgenta Bhd, is evaluating several acquisition targets of varying sizes in Singapore and Taiwan, as it looks to expand its integrated facilities management and healthcare support services businesses.

Top Glove Corporation Bhd's net profit dropped 31.4% YoY to RM34.8mn in 3QFY25, from RM50.7mn a year earlier, due to higher expenses.

Gamuda Bhd's net profit jumped 4.7% YoY to RM246.8mn in 3QFY25, from RM235.8mn a year earlier, driven by robust performance within its domestic construction division.

United Malacca Bhd's net profit jumped 57.4% YoY to RM23.7mn in 4QFY25, from RM15.1mn a year earlier, on the back of higher FFB production, stronger CPO prices and lower unit production costs in Indonesia.

Kim Loong Resources Bhd's net profit fell 15.3% YoY to RM41.9mn in 1QFY26, from RM49.5mn a year earlier, due to lower processing margins from milling operations.

Eco World Development Group Bhd's net profit surged 85.3% YoY to RM129.8mn in 2QFY25, from RM70.1mn a year earlier, thanks to the sale of 123 acres of industrial land at the QUANTUM Edge business park to Microsoft as well as full contributions from Paragon Pinnacle Sdn Bhd.