KUALA LUMPUR (Sept 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Eco World Development Group Bhd (KL:ECOWLD) said on Thursday that it has exceeded its sales target for the financial year ending Oct 31, 2025 (FY2025), after reporting a more than 25% rise in third quarter (3Q) earnings. The group achieved RM3.84 billion in sales in the first 10 months of FY2025, surpassing its full-year target of RM3.5 billion. Projects in Iskandar Malaysia contributed RM1.99 billion, or 52% of total sales, followed by the Klang Valley at 38% and Penang at 10%. Net profit for 3QFY2025 rose to RM101.2 million, from RM80.4 million a year earlier, as revenue jumped nearly 45% to RM761.9 million from RM526.2 million. — Eco World Development beats FY2025 sales target as 3Q profit jumps 25%

Plantation outfit United Malacca Bhd (KL:UMCCA) reported that its first-quarter net profit more than doubled year-on-year, driven by firmer crude palm oil and palm kernel  prices as well as lower production costs. For the three months ended July 31, 2025, net profit rose to RM37.8 million from RM13.3 million a year earlier, with earnings per share increasing to 18 sen from 6.34 sen. Quarterly revenue climbed 17% to RM191.6 million from RM163.9 million. — United Malacca kicks off FY2026 with profit more than doubling in 1Q 

Land & General Bhd (KL:L&G) plans to launch its maiden industrial park at its 2,500-acre Sungai Jernih Estate in Kerling, Hulu Selangor next year, with the development expected to span over a decade. L&G managing director Low Gay Teck said the launch of phase one of the project is targeted for late 2026, with the re-zoning of the land from agricultural use to industrial use already in progress. “The gross development value is still at a preliminary stage, so we are not providing figures, but it's going to be quite a big number,” Low said. — Land & General to launch maiden industrial park in 2026 in Hulu Selangor

Sime Darby Property Bhd (KL:SIMEPROP) is exploring more opportunities beyond its core property development, investment and management businesses, building on its recent move into data centres and continued expansion into commercial and industrial properties. The group does not discount large scale solar farms, which some real estate firms have ventured into, although nothing concrete has been decided, said group managing director and chief executive officer Datuk Seri Azmir Merican. "We have been looking at this [solar projects] but we are not at the point where there will be any significant announcements," Azmir said. — Sime Darby Property eyes new ventures, including solar, as it unveils new logo

FBG Holdings Bhd (KL:FBG), formerly known as Fajarbaru Builder Group Bhd, has proposed a rights issue of up to 836.6 million shares with free warrants, to raise as much as RM150.6 million. The cash call is primarily intended to finance the acquisition of land for its Medi-City project, which carries an estimated gross development value of RM2 billion. The project, spanning 235.8 acres in Batu Kawan, Penang, will feature healthcare and wellness facilities along with residential, retail, and commercial units.FBG said the rights issue will involve three new shares for every four shares held. — FBG plans rights issue to raise up to RM150 mil for Medi-City project land

Pipe-and-valve maker Pantech Group Holdings Bhd (KL:PANTECH) has been slapped with capital gains tax amounting to RM6.76 million by the Inland Revenue Board (IRB). “The board of directors of Pantech Group Holdings Bhd wishes to announce that the company has on Sept 12, 2025 received Notice of Assessments for Capital Gains Tax from the IRB for the year of assessment 2025, amounting to RM 6,759,377.27,” said Pantech. The company is currently seeking professional advice and intends to initiate a formal appeal to the IRB. — Pantech Group slapped with tax demand of RM6.8 mil from IRB

Binastra Corp Bhd (KL:BNASTRA) posted a 24.3% rise in net profit for the second quarter ended July 31, 2025 (2QFY2026), supported by higher contributions from its core construction segment. Quarterly net profit came in at RM28.4 million versus RM22.9 million a year earlier, the construction outfit said. Revenue surged 71.9% year-on-year to RM396.8 million from RM230.9 million. The construction segment recorded revenue of RM396.6 million in 2QFY2026, up from RM230.6 million a year earlier, while profit before tax rose to RM36.3 million from RM31.9 million. — Binastra's 2Q net profit up 24% on stronger construction earnings

Property developer Magna Prima Bhd’s (KL:MAGNA) largest shareholders, Datuk Seri Bryan Wong Sze Chien and managing director Eddy Seah Ley Hong, have triggered a conditional mandatory takeover offer at 73 sen per share after their stake in the company rose to 35.73%. This came after their company, Hallson Holdings Sdn Bhd, bought a 5.66% stake from Prisma Pelangi Sdn Bhd for RM16.5 million. Wong and Seah each own half of Hallson. Seah’s wife, Tan Zhen Lin, is also involved as a shareholder. The sale brings Prisma Pelangi’s stake in the company down to 20.12%. — Magna Prima's largest shareholders buy substantial stake from Prisma Pelangi, trigger takeover offer at 73 sen

Practice Note 17 (PN17) company KNM Group Bhd (KL:KNM) has secured an interim order from the Court of Appeal restraining all existing and future legal actions against the group, pending disposal of its main appeal fixed for hearing in May next year. KNM said the appellate court had allowed its application to stay and restrain proceedings. This covers court, winding-up and arbitration proceedings, as well as enforcement processes, labour and industrial court matters, adjudication under the Construction Industry Payment and Adjudication Act 2012, and actions to enforce securities, guarantees or liens. — KNM secures Court of Appeal order to restrain creditor actions pending May hearing

MClean Technologies Bhd (KL:MCLEAN) said it is not aware of any corporate development, rumour, or other reason that could explain the sharp rise in its share price and trading volume on Thursday. Replying to Bursa Malaysia's unusual market activity (UMA) query, the company said that to the best of its knowledge and after due enquiry with its directors, major shareholders and other relevant parties, it is unaware of any material development that has not been announced. Bursa issued the UMA query earlier in the day when the stock surged to its highest level in more than four years. The counter jumped as much as 13.97% to 53 sen before easing to 49.5 sen at market close, still up 6.45%. — MClean says unaware of reason as shares hit four-year high