KUALA LUMPUR (June 21): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

GDB Holdings Bhd (KL:GDB) has secured a contract worth RM865.66 million from an associate company of Permodalan Nasional Bhd (PNB) to build a logistics hub in Seksyen 15, Shah Alam. The construction firm said its wholly owned Grand Dynamic Builders Sdn Bhd had accepted the letter of award for the project from Strategic Sonata Sdn Bhd, a company which is 70%-owned by PNB. The job is scheduled to start in June 2024 and be completed in 30 months, which is by December 2026. The announcement confirms The Edge Malaysia weekly's report for the week of April 15-21, 2024, citing sources, that GDB was close to securing a substantial contract to build a warehouse in Shah Alam, Selangor. — GDB bags RM866 mil contract from PNB-backed company for Shah Alam logistics hub

IJM Corp Bhd (KL:IJM), through its wholly owned unit IJM Construction Sdn Bhd, has clinched two contracts totalling RM962.3 million. The first contract, valued at RM584.3 million and awarded by PNB-backed Strategic Sonata, involves constructing Plot A of a logistics hub in Section 15, Shah Alam. The project is expected to be completed within 28 months from the commencement date on June 20. Meanwhile, the second contract, worth RM378 million, pertains to Phase 1 of a semiconductor manufacturing facility for Siliconware Precision Malaysia Sdn Bhd at Bandar Cassia Technology Park in Penang. — IJM unit clinches two building projects worth RM962m

Ann Joo Resources Bhd (KL:ANNJOO) and its consortium partner have bagged a contract worth RM297.90 million from Tenaga Nasional Bhd (TNB) (KL:TENAGA) for the electrification of East Coast Rail Link (ECRL) feeder stations. Its unit Ann Joo Metal Sdn Bhd, in consortium with PT Lumintu Insan Mandiri, had been awarded the contract by TNB's unit Tenaga Switchgear Sdn Bhd. The ECRL electrification project is expected to be completed by May 31, 2026. — Ann Joo, consortium partner bag RM297m job from Tenaga for electrification of ECRL feeder stations

Engineering and construction services group PJBumi Bhd (KL:PJBUMI) has bagged a contract to provide physical onboarding services for MyDigital ID, Malaysia's national digital identity (ID) system or platform under Mimos Bhd, a Ministry of Science, Technology and Innovation agency. Its unit PJBumi Heavy Engineering & Services Sdn Bhd has accepted the letter of award for the contract from Mimos Semiconductor (M) Sdn Bhd. The onboarding service is for 24 months and is expected to start on June 21, 2024 and last until June 20, 2026. The contract price is RM100,000 for 500 units touch-point device setup, and RM1.70 for every successful physical onboarding to MyDigital ID. — PJBumi secures contract for physical onboarding to MyDigital ID

Infomina Bhd (KL:INFOM) has secured an order worth US$11.39 million (RM53.6 million) from a bank in Thailand for information technology (IT) support services. The IT service firm’s subsidiary Infomina (Thailand) Co Ltd received the order for technology application, infrastructure operations, maintenance, and support services. Work for the order is scheduled to commence on June 1, 2024, and will span five years and seven months until Dec 21, 2029. — Infomina gets RM53.6 mil IT support service order from Thai Bank

Scientex Bhd's (KL:SCIENTX) net profit for the third quarter ended April 30, 2024 rose 18.9% to RM130.5 million, from RM109.8 million in the previous year's corresponding quarter as revenue grew 11% to RM1.1 billion from RM997.1 million, driven by healthy contributions from its packaging and property segments. The company declared a single-tier interim dividend of six sen per share, payable on July 19. For the nine months of FY2024, its net profit surged 26.6% to RM409.4 million from RM323.2 million, with revenue increasing 10% to RM3.3 billion from RM3 billion. — Scientex's 3Q net profit grows 19% to RM130.5m, declares six sen dividend

MyNews Holdings Bhd (KL:MYNEWS) posted a net profit of RM1.73 million for its second quarter ended April 30, 2024 (2QFY2024) against a net loss of RM6.28 million in the previous year’s corresponding quarter, thanks to higher share of profit from its joint venture company and improved profit margin. Its 2QFY2024 earnings came on the back of a 10.66% increase in revenue to RM192.77 million from RM174.2 million, driven by improved in-store sales. No dividend was declared for the quarter under review. For the first six months of FY2024, the group registered a net profit of RM3 million versus a net loss of RM9.49 million in the corresponding period in FY2023, while revenue increased 8.37% to RM388.29 million from RM358.29 million. — MyNews reports third consecutive profitable quarter on higher share of profit from JV, improved profit margin

The offshore support vessel (OSV) player Marine & General Bhd’s (KL:M&G) net profit fell 41.5% to RM19.46 million in the fourth quarter ended April 30, 2024, from RM33.27 million a year before, due to higher vessel repairs incurred and a lower net reversal of vessel impairment. Quarterly revenue increased by 9.05% to RM83.06 million, from RM76.17 million due to higher fleet utilisation and charter rates for OSVs in line with the continued increase in oil drilling activities and the general economic recovery in the region. No dividend was proposed for the current quarter and the entire FY2024. For FY2024, its net profit inched up 0.61% to RM48.38 million, from RM48.09 million while annual revenue rose 13.22% to RM347.92 million, from RM307.28 million. — Marine & General's 4Q net profit drops 42% amid higher vessel repairs, lower net reversal for vessel impairment

The Armed Forces Fund Board, or Lembaga Tabung Angkatan Tentera (LTAT), has ceased to be a substantial shareholder of OCK Group Bhd (KL:OCK) after offloading an 8.94% stake in the telecommunications infrastructure and services provider. LTAT sold the stake, comprising 95.4 million shares, on Wednesday through a direct business transaction. LTAT has been trimming its stake in OCK since the start of June. Following the latest transaction, LTAT's shareholding in OCK will be reduced to just 0.03% or 299,755 shares. — LTAT exits OCK Group's substantial shareholders list after selling 8.94% stake

Scheduled waste management company Hiap Huat Holdings Bhd (KL:HHHCORP) announced a RM100 million investment over the next five years to build a liquid bulk storage terminal in Port Klang. The terminal — boasting a storage capacity of 123,800 cubic metres distributed across 41 vertical storage tanks — will be developed in three phases. The first phase is expected to be operational by the fourth quarter of 2025, it noted. The land for the project is leased from Westports Holdings Bhd (KL:WPRTS) for 46 years, with an option to extend for an additional 12 years. — Hiap Huat earmarks RM100m to build liquid bulk storage terminal in Port Klang

Unisem (M) Bhd (KL:UNISEM) is buying 38 plots of land in Gopeng, Perak for RM30.14 million, cash, to expand its semiconductor packaging and test facilities. The plots, measuring 1.88 million sq ft, are located directly behind its existing facility in Gopeng. The semiconductor company signed a sales and purchase agreement on Friday with the vendors, Sungai Raya Development Sdn Bhd, Poh Yoke Lan and Low Yoon Chin, to purchase the plots. — Unisem buys land in Perak to expand semiconductor facilities