KUALA LUMPUR (March 20): Here is a brief recap of some corporate announcements that made the news on Wednesday:

Samaiden Group Bhd (KL:SAMAIDEN) has signed a 21-year power purchase agreement with Tenaga Nasional Bhd (KL:TENAGA) to develop and operate a solar photovoltaic facility. Its subsidiary, Samaiden Legasi Timur, will connect the plant to TNB’s high-voltage network under the LSS5 programme. The announcement follows Samaiden’s selection in December by the Energy Commission to develop a 99.99-megawatt (MW) large-scale solar photovoltaic plant in Pasir Mas, Kelantan. — Samaiden signs 21-year agreement with TNB for LSS5 solar project

Solar energy solution provider Solarvest Holdings Bhd (KL:SLVEST) said it's 60%-owned unit, Nextree Synergy, has signed a large-scale solar PPA with Tenaga Nasional Bhd (KL:TENAGA) to develop and operate a 60MW solar plant in Kuala Langat, Selangor. The project, part of the LSS5 programme, is set to begin commercial operations on Oct 8, 2027. — Solarvest signs large-scale solar power purchase agreement with TNB

Jeweller Poh Kong Holdings Bhd (KL:POHKONG) said its second quarter net profit rose 4.78% to RM29.60 million from RM28.25 million a year earlier, on the back of higher gold prices. Revenue for the second quarter ended Jan 31, 2025 (2QFY2025) increased 8.42% year-on-year to RM459.51 million from RM423.82 million, mainly due to an increase in demand for gold jewellery and gold investment products. The company did not announce any dividend for the quarter. — Poh Kong's 2Q net profit rises 5% on higher gold prices

Affin Bank Bhd (KL:AFFIN) and MUFG Bank (Malaysia) Bhd, a subsidiary of Japan-based Mitsubishi UFJ Financial Group Inc, have signed a three-year memorandum of understanding to strengthen Malaysia-Japan trade. The collaboration aims to drive business cooperation in key sectors, leveraging Affin’s local market expertise and MUFG’s global network, with a focus on green transformation and digital innovation. — Affin Bank inks MOU with MUFG Bank to boost Malaysia-Japan trade

Eco World International Bhd (KL:EWINT) recorded RM58 million in property sales in the first four months of FY2025, but reported zero revenue for 1QFY2025, as overseas sales do not immediately translate into revenue. The company posted a net loss of RM3.75 million, citing lower forex gains and weaker joint venture profits. It has put new launches on hold due to market conditions. — Eco World International achieves RM58m sales in first four months of FY2025, new launches on hold

Video surveillance company ITMAX System Bhd (KL:ITMAX) has secured a contract from the Seberang Perai City Council worth RM26.60 million. The contract entails the installation and maintenance of selected closed-circuit television (CCTV) cameras, along with related works within the Seberang Perai area. This contract will commence on April 15, 2025, and run until Oct 14, 2034. — ITMAX bags RM26.6 mil surveillance contract from Seberang Perai City Council

ACE Market-bound Lim Seong Hai Capital Bhd (KL:LSH) reported a 19% year-on-year increase in net profit to RM18.5 million for 1QFY2025, up from RM15.5 million, driven by higher gross profit from construction works in Tangkak. Revenue rose 5% y-o-y to RM96.8 million from RM92.2 million, supported by strong growth in its property development segment. The company declared an interim dividend of 0.67 sen per share, payable on April 18. — Lim Seong Hai Capital's 1Q net profit up 19%

Gagasan Nadi Cergas Bhd (KL:NADIBHD) has secured an en-bloc sale of 523 affordable housing units in the City of Elmina, Shah Alam, for RM134.41 million. Its 70%-owned subsidiary, Nadi Emery Sdn Bhd, accepted the offer from the Selangor Housing and Property Board. The units, part of the Rumah Idaman scheme, will be rented to B40 and M40 residents under Selangor’s Skim Smart Sewa initiative. Construction on Elmina 5 is set to begin in 3Q2025 and complete by 2028. — Gagasan Nadi sells 523 affordable homes to Selangor housing board for RM134mil

Construction and property development group NCT Alliance Bhd (KL:NCT) is acquiring a 51% stake in Sabah-based Setara Juara Sdn Bhd for RM22 million. Setara Juara owns the development rights for three plots of land measuring about 249.67 acres in Putatan, Sabah. Dubbed Ion Marina Bay, the land has been earmarked for a property development project with an estimated gross development value of RM3.4 billion. The mixed development, featuring residential, commercial and lifestyle components, will be developed from 2025 to 2033. — NCT Alliance buys 51% stake in Sabah property developer for RM22m in cash, land swap deal

YTL Power International Bhd (KL:YTLPOWR) expects to launch Malaysia’s first Nvidia supercomputer in early third quarter of this year, making it one of the first cloud providers in the Asia-Pacific to offer Nvidia’s Blackwell platform. The supercomputer, featuring the latest Nvidia GB200 Grace Blackwell Superchip, will be deployed at the 500MW YTL Green Data Centre Campus in Johor. — YTL Power aims to launch first Nvidia supercomputer as early as July, among first in Asia Pacific

HeiTech Padu Bhd (KL:HTPADU) CEO Hasrul Azuan Mohd Yusof has resigned after just three months in the role, effective immediately, to pursue other career opportunities. The company, which secured the RM892.2 million NIISe project last year, has begun the process of identifying a new CEO. — HeiTech Padu's CEO resigns barely three months at the helm

IGB Commercial REIT (KL:IGBCR) and IGB REIT (KL:IGBREIT) announced the resignation of CEO Elizabeth Tan Hui Ning, 41, due to medical reasons, effective immediately. In separate filings, the REITs said non-executive chairman Datuk Seri Robert Tan Chung Meng, 72, who is also Hui Ning's father, will be redesignated as executive chairman. Meanwhile, former IGB REIT Management CEO Antony Patrick Barragry is coming out of retirement to serve as acting CEO, effective Wednesday. — Elizabeth Tan steps down as CEO of IGB REITs, father Robert Tan redesignated as executive chairman

Favelle Favco Bhd (KL:FAVCO) has secured five contracts worth RM147.1 million for offshore and tower cranes. Two contracts for tower cranes will be delivered between the second and third quarters of 2025. The remaining three offshore crane contracts are scheduled for delivery from late 2025 to early 2026. — Favelle Favco bags five crane contracts worth RM147.1m

Sapura Industrial Bhd (KL:SAPIND) has partnered with Germany’s Mubea Fahrwerksfedern GmbH to enhance its production of hollow stabiliser bars and high-stress coil springs. Under the five-year agreement, Mubea will provide technical expertise, with an automatic one-year renewal clause. Sapura Industrial will pay royalties in exchange for the support. — Sapura Industrial partners Germany’s Mubea to boost expertise in automotive component manufacturing

TSR Capital Bhd (KL:TSRCAP) has secured a RM219 million contract from Kwasa Land Sdn Bhd for infrastructure and water reservoir construction at Kwasa Damansara, Sungai Buloh. The contract value is over five times TSR’s market cap of RM45.36 million. The project involves site clearance, earthworks, road construction, drainage, sewerage and water reticulation. — TSR bags RM219 mil earthworks contract in Kwasa Damansara