Trading ideas: KLK, LBS, Binastra, OCK, Matrix, L&P, Perak Corp, Dnex, Top Glove, Yinson, VS Industry, Scientex Packaging, EWI

KUALA LUMPUR: Here is a summary of the announcements that are making headlines in Corporate Malaysia.

Kuala Lumpur Kepong Bhd announced that its subsidiary, KL-Kepong Rubber Products Sdn Bhd, is no longer in any contractual relationship with Agency Pekerjaan UKHWAH Sdn Bhd with immediate effect.

LBS Bina Group Bhd has exited its investment in Chinese motor circuit company Zhuhai International Circuit Ltd after more than a decade, as it sold all its stake in Lamdeal Investments Ltd, which owns a 60.0% stake in ZICL, for RM124.7mn cash.

Binastra Corporation Bhd has bagged a contract for building works in Kota Kinabalu, Sabah worth at RM313.7mn.

OCK Group Bhd said that its deputy chairman Abdul Halim Abdul Hamid and executive director Chang Tan Chin have resigned, with immediate effect, as part of the board's internal restructuring efforts.

Matrix Concepts Holdings Bhd via its subsidiary Megah Sedaya Sdn Bhd has inked a land development agreement with NS Corporation for 1,000 acres of prime land in the Malaysia Vision Valley 2.0 development corridor.

L&P Global Bhd said it is eyeing acquisitions to support organic growth as the industrial packaging firm seeks to nearly double its revenue within the next three to five years.

Perak Corporation Bhd has dismissed allegations that it is losing significant land parcels due to unpaid rent.

Dagang Nexchange Bhd says the group has broadened its operations, onboarding new clients in emerging sectors such as artificial intelligence, health science and electric vehicles.

Top Glove Corporation Bhd reported a net profit of RM50.7mn for 3QFY24 compared to a net loss of RM130.6mn a year ago, thanks to land sale and currency gain.

Yinson Holdings Bhd's net profit for 1QFY25 dipped by 2.3% YoY to RM203.0mn from RM208.0mn a year earlier, due to lower revenue coupled with increased finance costs of RM171.0mn arising from higher drawdowns to support project execution.

VS Industry Bhd's net profit jumped 103.3% YoY to RM54.4mn in 3QFY24, from RM26.8mn a year ago, mainly due to higher orders as well as a favourable product sales mix in Malaysia.

Scientex Packaging (Ayer Keroh) Bhd's net profit slipped by 1.2% YoY to RM10.0mn in 3QFY24, from RM10.1mn a year earlier, primarily due to increased tax expenses.

Eco World International Bhd had widened its net loss to RM14.1mn for 2QFY24 compared to RM4.6mn a year ago as quarterly revenue dropped 99.3% YoY to RM0.2mn from RM22.7mn.

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