Kuala Lumpur News

Propel Global Revenue Declines

Perth, May 29: Propel Global Berhad recorded revenue of RM18.6 million for Q3 FY2026, compared with RM23.6 million a year earlier, while loss before tax widened to RM6.8 million.
The decline was mainly due to lower contributions from its Technical Services segment as construction projects reached the final stages of completion. Higher contributions from the oil and gas segment, supported by the acquisition of Min Soon Transport Company Sdn Bhd, partially offset the impact.
For the nine months ended 31 March 2026, the group recorded revenue of RM57 million and a loss before tax of RM16.8 million, compared with revenue of RM86.3 million and a loss before tax of RM6.4 million in the corresponding period last year.
“The Group’s Q3 FY2026 performance reflects the continued impact of project timing, lower progress billings and non-recurring items from the previous year. While the operating environment remains challenging, we continue to manage the business with discipline, focusing on project execution, cost control and selective participation in opportunities that are aligned with our technical capabilities,” said Angeline Lee, Executive Director and Group Chief Executive Officer of Propel Global.
“The O&G segment continued to report PBT during the quarter, while the consolidation of MSTSB has begun contributing to the Group’s operating portfolio. We are also focused on strengthening our participation in higher-value infrastructure opportunities, particularly within data centre-related works, digital infrastructure and energy-related projects,” she added.
The group said it continued expanding its presence in data centre infrastructure and energy-related opportunities, including projects in Johor Bahru and a collaboration to explore modular gas power plants in Sabah.

Axteria Reshuffles Leadership Team

Perth, May 29: Axteria Group Berhad has announced a series of board and senior management changes aimed at strengthening execution, governance and future growth.
As part of the leadership realignment, Ku Chong Hong has been appointed Chief Executive Officer, while Oh Bang Han takes on the role of Chief Operating Officer, both effective 29 May 2026.
The company has also appointed Lai Jian Hong as Chief Financial Officer, succeeding Sea Hong Peng, who is stepping down due to personal commitments. Lai brings more than a decade of experience in assurance and corporate finance, including involvement in several Bursa Malaysia IPO listings.
Meanwhile, Woo Wai Onn @ Foo Wai Onn has resigned as Group Managing Director and Kenny Woo Chi Yoong has resigned as Executive Director, both due to personal commitments.
“The latest leadership realignment marks an important step for Axteria as we strengthen management focus and execution discipline for the Company’s next phase. We would like to express our appreciation to Mr Woo, Mr Kenny and Ms Sea for their contributions to the Company. At the same time, the appointment of Mr Lai as Chief Financial Officer brings additional financial, corporate finance and listed company experience to the team, which will support Axteria as we continue to evaluate opportunities and reinforce our operating platform,” said Ku Chong Hong, Executive Director and Chief Executive Officer of Axteria Group Berhad.

SCIB Returns To Profit

Perth, May 29: Sarawak Consolidated Industries Berhad recorded revenue of RM59.30 million and profit before tax of RM1.13 million for Q1 FY2026, marking a return to profitability as the group advances its business realignment.
Revenue from continuing operations rose 32.8 per cent quarter-on-quarter to RM26.95 million, supported by stronger recognition of construction works from ongoing projects. Loss before tax from continuing operations narrowed to RM1.40 million from RM27.77 million in the preceding quarter.
The manufacturing segment, now classified as a discontinued operation following the proposed disposal of SCIB Concrete Manufacturing Sdn Bhd, recorded revenue of RM32.35 million and profit before tax of RM4.42 million.
“Q1 FY2026 marks an encouraging start to the year as SCIB continues to move through its recovery and realignment phase. The improvement in our Construction and EPCC revenue reflects better progress recognition from ongoing projects, while the narrowing of losses under continuing operations indicates that our focus on execution discipline and cost management is beginning to show results. As we move ahead, our priority remains clear — to rebuild our project pipeline, strengthen financial flexibility and position SCIB as a more focused EPCC player,” said Datuk Chong Loong Men, Non-Independent Non-Executive Chairman of SCIB.
SCIB said it had continued to secure EPCC projects, including a RM32.8 million contract for the construction of SMK Balaban Jaya in Beluran, Sabah.

MN Profit Rises

Perth, May 29: MN Holdings Berhad recorded a 28 per cent year-on-year increase in profit after tax to RM21.33 million for Q3 FY2026.
Revenue rose 57 per cent to RM200.07 million, driven mainly by stronger contributions from the group’s substation engineering segment, which accounted for RM176.91 million or 88 per cent of total revenue.
Profit before tax increased 41 per cent to RM31.94 million, while normalised PBT rose 74 per cent to RM37.18 million after adjustments for impairment-related items.
For the nine months ended 31 March 2026, MN Holdings recorded revenue of RM657.72 million, up 85 per cent year-on-year, while profit after tax increased 87 per cent to RM68.10 million.
“Our performance in Q3 FY2026 reflects the continued execution of major substation engineering projects and the strength of our operational capabilities. Looking ahead, we remain encouraged by the demand outlook for power infrastructure, driven by ongoing investments in data centres, grid expansion, electrification and energy transition initiatives. Supported by our order book of approximately RM1.75 billion, we remain focused on executing our projects efficiently while pursuing new opportunities that complement our technical expertise and long-term growth objectives,” said Dato’ Clement Toh, Managing Director of MN Holdings.
The group’s cash and cash equivalents stood at RM280.34 million as at 31 March 2026.

OCR Earnings Surge

Perth, May 29: OCR Group Berhad recorded a strong start to FY2026, with revenue more than doubling to RM68 million for the first quarter ended 31 March 2026.
The integrated real estate group’s profit before tax surged to RM5 million from RM0.37 million a year earlier, supported by accelerated progress recognition from key ongoing developments, including Residensi Akasia in Shah Alam and Stellar Damansara.
“The strong start to FY2026 reflects the steady execution progress across our core developments and improving operational momentum within the Group. The significant uplift in both revenue and profitability demonstrates the strength of our project pipeline and our ability to convert construction progress into earnings growth. Moving forward, we remain focused on execution efficiency, disciplined cost management and sustaining sales momentum across our ongoing and upcoming developments,” said Billy Ong Kah Hoe, Group Managing Director of OCR Group Berhad.
OCR said its property development segment remained the main earnings contributor during the quarter, supported by active construction progress and healthy billings.
The group’s cash and short-term deposits increased to RM48.9 million as at 31 March 2026, from RM32.1 million as at 31 December 2025, giving it additional flexibility to support ongoing developments and future launches.

AIZO Proposals Approved

Perth, May 29: AIZO Group Berhad shareholders have approved several corporate proposals aimed at strengthening the company’s capital base, improving financial flexibility and supporting future growth.
The resolutions approved at the company’s extraordinary general meeting included a proposed private placement, allocations of placement shares to selected directors, a share capital reduction and a renounceable rights issue with free detachable warrants.
The exercises could provide AIZO with access to up to RM123.58 million in gross proceeds. The funds are expected to support its Large Scale Solar 5 Project, current and future construction projects, working capital, new business investments, digitalisation and process transformation initiatives.
“We are encouraged by the strong support shown by our shareholders at the EGM. Their approval provides AIZO with a clear mandate to move forward with a comprehensive capital plan that is designed to strengthen our financial position, support our project pipeline and prepare the Group for its next phase of growth. These proposals are not merely balance sheet exercises. They are important enablers for AIZO to fund strategic priorities, including the LSS5 Project, current and future construction projects, and selected growth initiatives. With a stronger capital platform, we will be better positioned to execute our plans with greater financial flexibility,” said En. Ahmad Rahizal Bin Dato’ Ahmad Rasidi, Executive Director of AIZO.
AIZO said it would proceed with the approved proposals in accordance with regulatory requirements and remain focused on disciplined execution, prudent capital management and long-term shareholder value creation.

Globetronics Revenue Softens

Perth, May 29: Globetronics Technology Bhd recorded revenue of RM16.9 million for Q3 FY2026 amid lower customer loadings and continued softness in the semiconductor industry.
The group reported gross profit of RM1.3 million for the quarter ended 31 March 2026, with performance affected by softer customer demand and higher administrative expenses.
For the nine-month period, Globetronics recorded revenue of RM59.5 million and a loss after tax of RM29.1 million, impacted by lower industry loadings, operating cost pressures and share-based payment expenses from its Employees Share Option Scheme.
Despite the softer operating environment, the group maintained shareholders’ equity of RM270.7 million and cash and cash equivalents of RM26 million as at 31 March 2026. It also invested RM15.1 million in capital expenditure to strengthen manufacturing and operational capabilities.
“The semiconductor industry continues to experience cyclical softness and macroeconomic uncertainties, which have impacted customer loadings during the quarter. Nevertheless, we remain focused on strengthening our operational resilience, managing costs prudently, and advancing our strategic roadmap. Our ongoing collaborations with ChipMOS and POET Technologies, together with upcoming product ramps and continued investments in technology capabilities, position the Group to capture future growth opportunities as market conditions improve,” the Management of GTB said.

Leon Fuat Profit Surges

Perth, May 29: Leon Fuat Berhad reported a strong start to FY2026, with profit before tax surging 195.2% year-on-year to RM5.51 million for the first quarter ended 31 March 2026.
Revenue rose marginally by 1.1% to RM214.84 million from RM212.52 million a year earlier, supported by its core steel trading and processing operations. The processing segment remained the largest contributor, accounting for 64.4% of total revenue.
Gross profit increased 23.3% to RM24.09 million, while gross profit margin improved to 11.2% from 9.2% previously, driving stronger earnings performance during the quarter.
Profit after tax jumped 189.1% to RM4.05 million from RM1.40 million in the corresponding quarter last year, while earnings per share improved to 1.19 sen from 0.41 sen.
“Leon Fuat has started FY2026 on a stronger footing, with profitability improving meaningfully despite a relatively stable revenue base. The quarter’s performance reflects better margin management, continued discipline in inventory strategy and the resilience of our integrated trading and processing model,” said Calvin Ooi Shang How, Executive Director of Leon Fuat.
“Our focus remains on strengthening operational efficiency, enhancing customer engagement and improving value capture through our steel processing and downstream manufacturing capabilities. While market conditions remain fluid, we believe our diversified customer base and broad product offerings provide a solid foundation to navigate the current operating environment,” he added.

HSS Launches Prospectus

Perth, May 29: HSS Holdings Berhad has launched its prospectus ahead of its proposed listing on the ACE Market of Bursa Malaysia.
The bakery products group’s IPO comprises a public issue of 75 million new shares and an offer for sale of 52.5 million existing shares. Based on an IPO price of RM0.18 per share, the public issue is expected to raise RM13.5 million.
The proceeds will be used for manufacturing facility upgrades, repayment of bank borrowings, working capital and listing expenses.
HSS, which has more than 20 years of operating experience, sources, trades and manufactures bakery products. Its portfolio includes more than 6,000 SKUs across cakes, biscuits, cookies, snacks and other products under brands including SINAR®, 合顺成饼家® and Sa1ko®.
“The launch of our prospectus marks a significant milestone in HSS’ corporate journey as we move closer to our listing on the ACE Market. Over the years, we have built a solid foundation in the bakery products market through our wide product range, established distribution network and long-standing customer relationships. Through this IPO, we aim to strengthen our production capabilities, improve operational efficiency and support the continued growth of our business,” said Mr. Goh Chen Chang, Managing Director of HSS Holdings Berhad.
“HSS has established a strong foothold in the domestic bakery products market, supported by its extensive distribution reach, diversified product portfolio and more than two decades of operating experience. The Group’s planned investments in manufacturing facilities and automation are expected to strengthen its operational foundation and support its next phase of growth as a listed company,” said Datuk Bill Tan, Executive Director of M & A Securities Sdn. Bhd.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.

MSB Global Stays Profitable

Perth, May 28: MSB Global Group Berhad recorded revenue of RM12.75 million and profit after tax of RM0.98 million for Q1 FY2026, compared with revenue of RM13.83 million and profit after tax of RM1.51 million a year earlier.
The group’s aftermarket automotive parts and components segment posted revenue of RM8.09 million, while its automotive lubricants and fluids segment grew to RM4.66 million from RM4.21 million previously.
Despite softer revenue, MSB Global remained profitable and generated RM1.98 million in net operating cash flow, compared with RM0.65 million in the corresponding quarter last year. Cash and bank balances, including fixed deposits, stood at RM40.92 million as at March 31, 2026.
“The Group continued to demonstrate operational resilience during the quarter. Importantly, we further strengthened our operational positioning through tighter cost management, healthier liquidity and selective strategic initiatives that support our longer-term growth direction,” said Datuk Ow Kee Foo, Managing Director of MSB Global.
“The lubricants and fluids segment continued to show encouraging resilience during the quarter, supported by higher sales contribution from the segment.”
Looking ahead, MSB Global said it will focus on margin preservation, prudent inventory management and selective expansion initiatives amid competitive market conditions.

Cropmate Posts Record Profit

Perth, May 28: Cropmate Berhad recorded revenue of RM58.57 million for Q1 FY2026, up 20.5 per cent from RM48.62 million a year earlier.
Profit before tax rose 11.3 per cent to RM5.53 million, while profit after tax increased 10.9 per cent to a record high RM4.16 million.
Quarter-on-quarter revenue rose 41.7 per cent, mainly due to higher fertiliser sales volume. Domestic sales contributed about 96.2 per cent of total revenue, supported by demand from Malaysia’s agriculture sector.
As at March 31, 2026, Cropmate’s total assets stood at RM142.28 million, while shareholders’ equity rose to RM100.20 million.
The company remains cautiously optimistic for FY2026, with a focus on supply chain resilience, operational discipline and product innovation.

Adnex Posts RM27.24m Revenue

Perth, May 28: Adnex Group Berhad recorded revenue of RM27.24 million for Q1 FYE2026, with profit before tax at RM0.80 million and profit after tax at RM0.58 million.
The group said its reported earnings were affected by one-off listing expenses of RM3.06 million following its listing on the ACE Market of Bursa Malaysia on March 17, 2026. Excluding these expenses, Adnex would have recorded adjusted profit before tax of RM3.86 million and adjusted profit after tax of RM3.64 million.
Revenue was mainly contributed by its interior fit-out works segment, which generated RM20.51 million, or 75.31 per cent of total revenue. Its turnkey fit-out services segment contributed RM6.73 million, or 24.69 per cent.
Adnex also declared a single-tier interim dividend of 0.50 sen per share for the financial year ending Dec 31, 2026, amounting to RM2.50 million, payable on July 10, 2026.
“While our reported earnings for Q1 FYE2026 were affected by one-off listing expenses, our adjusted PBT of RM3.86 million demonstrates the strength and resilience of our underlying business. This is a strong performance for the Group, particularly as we continued to sustain revenue momentum and deliver healthy profitability during the quarter,” said Mr. Kan Wai Chun, Managing Director of Adnex.
He added, “The results reinforce the fundamentals of Adnex’s business model, supported by our established execution capabilities, experienced project team, and track record in delivering interior fit-out services for corporate offices, commercial spaces, F&B outlets, and sales galleries. Following our listing, we are now better positioned to pursue larger opportunities, strengthen our operational capacity, and support our next phase of growth.”
As at March 31, 2026, Adnex’s total equity rose to RM35.00 million from RM17.42 million as at Dec 31, 2025, while cash and bank balances increased to RM21.85 million following its IPO exercise.

JAG Secures Shareholder Approval

Perth, May 26: JAG Berhad has secured shareholders’ approval for all resolutions tabled at its 28th Annual General Meeting in Shah Alam.
Shareholders approved directors’ fees and benefits, the re-election of Datin Tan Siew Ching as director, and the re-appointment of Russell Bedford LC PLT as auditors. Mr. Ewe Chuan Seng will retire following the AGM after indicating he would not seek re-election.
Shareholders also approved a general mandate allowing the company to issue shares of up to 10 per cent of its total issued shares, as well as the renewal of its recurrent related party transaction mandate and share buy-back authority of up to 10 per cent of issued share capital.
“We are encouraged by the continued support shown by our shareholders at the 28th AGM. The approval of all resolutions reflects continued shareholders’ support for the Company’s ongoing operational and governance priorities. As we move forward, JAG will remain focused on strengthening operational discipline, supporting sustainable resource recovery and building a more resilient platform for future growth,” said Datin Tan Siew Ching, Chairperson and Executive Director of JAG Berhad.
JAG’s core business is carried out through Jaring Metal Industries Sdn. Bhd., which provides total waste management and recovers precious, ferrous and non-ferrous metals from industrial waste.
“The structural importance of responsible waste management and resource recovery continues to grow, particularly as industries place greater emphasis on sustainability, compliance and circular economy practices. As the waste management industry remains highly regulated with significant operational and compliance barriers to entry, customers continue to prioritise experienced and reliable service providers. With our experience in industrial waste recycling and material recovery, JAG is well-positioned to continue serving customers that require reliable, compliant and environmentally responsible solutions,” Datin Tan added.
Moving forward, JAG said it will continue focusing on operational execution, regulatory compliance, customer relationships and prudent capital allocation while strengthening its position in Malaysia’s total waste management ecosystem.

DPS Gross Profit Surges

Perth, May 26: DPS Resources Berhad recorded a more than 32-fold increase in gross profit to RM2.23 million for Q4 FY2026, compared with RM0.07 million in the corresponding quarter last year, while its net loss narrowed to RM1.65 million from RM6.38 million previously.
The group posted revenue of RM13.04 million for the quarter ended March 31, 2026, compared with RM15.19 million a year earlier, mainly due to lower contribution from its property development and construction segment. However, stronger performance from its furniture and rental of buildings with comprehensive services segment helped support results.
For FY2026, DPS recorded revenue of RM60.39 million, while net profit rose to RM2.09 million from RM0.26 million previously. Profit attributable to owners of the company increased to RM2.10 million from RM0.34 million, with basic earnings per share improving to 0.79 sen from 0.14 sen.
“This set of results reflects DPS’ continued efforts to strengthen its operational base while preparing the Group for its next phase of growth. Although the current quarter was affected by timing differences in contributions from the property development and construction segment, we are encouraged by the improvement in gross profit and the narrower loss recorded during the quarter,” said Tan Sri Dr. Sow Chin Chuan, Group Chairman and Founder of DPS Resources Berhad.
He added, “Our focus remains on disciplined project execution, cost management and the progressive advancement of our development pipeline. We believe these efforts will support the Group’s ability to recover upfront investments over time, while laying a stronger foundation for sustainable growth.”
Moving forward, DPS said it remains focused on developing AI-driven digital infrastructure and high-technology industrial park projects in Melaka, including a proposed AI-driven data centre and high-tech park in Mukim Lendu with planned capacity of up to 500MW, as well as the potential conversion of its Bukit Rambai factory into a data centre facility.

Master Tec Profit Rises

Perth, May 26: Master Tec Group Berhad recorded stronger year-on-year results for Q1 FY2026, with revenue rising 29.8 per cent to RM91.16 million from RM70.24 million in the corresponding quarter last year.
The cable manufacturer said the growth was mainly driven by higher contribution from its manufacturing segment, which generated RM86.83 million in revenue, up 36.2 per cent from RM63.76 million previously.
Profit before tax increased 38.6 per cent to RM7.07 million, while profit after tax rose 15.6 per cent to RM5.25 million. Profit attributable to owners of the company climbed to RM5.40 million from RM4.47 million a year earlier.
Master Tec said demand for its cable products remained supported by infrastructure, utilities, construction, telecommunication, renewable energy, data centres and industrial sectors.
The group also completed the acquisition of a parcel of freehold land in Jasin, Melaka for RM10.20 million earlier this month to support its long-term expansion plans.

DC Healthcare Rebounds

Perth, May 26: DC Healthcare Holdings Berhad has returned to quarterly profitability, recording RM21.36 million in revenue for Q1 FY2026.
The medical aesthetic services provider said revenue rose 19 per cent from RM17.90 million in the corresponding quarter last year, mainly driven by its aesthetic services segment.
The segment grew 26 per cent year-on-year to RM18.68 million, supported by higher cash sales collection and increased redemption of aesthetic services.
DC Healthcare recorded a profit before tax of RM0.32 million, reversing from a loss before tax of RM0.84 million in Q1 FY2025. Profit after tax stood at RM0.12 million, compared with a loss after tax of RM0.84 million previously.

Tex Cycle Revenue Jumps

Perth, May 26: Tex Cycle Technology (M) Berhad recorded revenue of RM20.6 million for Q1 FY2026, up 132 per cent from RM8.9 million in the corresponding quarter last year.
The waste management and recycling solutions provider said profit before tax rose 55 per cent to RM4.0 million, while profit for the period increased to RM3.5 million from RM2.1 million previously.
The group said the stronger performance was mainly supported by its recovery and recycling division, following the inclusion of Meridian World Sdn. Bhd. The division recorded revenue of RM18.4 million, compared with RM6.6 million a year earlier.

Senheng Revenue Softens

Perth, May 26: Senheng New Retail Berhad recorded revenue of RM250.8 million for Q1 FY2026, compared with RM277.0 million in the corresponding quarter last year.
The consumer electronics retailer said the softer performance reflected cautious consumer spending, particularly on higher-ticket discretionary purchases.
Gross profit stood at RM53.8 million, while gross profit margin remained consistent at 21.4 per cent compared with Q1 FY2025.
The group reported a loss before tax of RM1.5 million, compared with a profit before tax of RM5.6 million a year earlier. Senheng said the result reflected lower revenue and the absence of a RM4.2 million land disposal gain recorded in the previous corresponding period.
Despite softer earnings, net cash generated from operating activities rose to RM24.3 million from RM15.2 million a year earlier. Cash and bank balances increased to RM102.5 million as at 31 March 2026.
Senheng said it would continue focusing on its Point-Based Economy strategy and S-Coin ecosystem, while expanding customer engagement through its rewards platform and home living initiatives.

Advancecon Profit Jumps

Perth, May 26: Advancecon Holdings Berhad recorded an 85.8 per cent year-on-year increase in profit attributable to owners to RM1.81 million for Q1 FY2026.
The group posted revenue of RM97.45 million, compared with RM101.21 million in Q1 FY2025, while profit before tax stood at RM1.85 million amid diesel and operating cost pressures.
Its Construction and Support Services segment remained the main earnings contributor, generating RM50.0 million in revenue and strengthening segment profit before tax to RM5.0 million from RM0.3 million a year earlier.
Advancecon said its order book had grown to about RM940 million, supported by project delivery momentum and recent Johor contract wins. The group said it would continue focusing on operational discipline, selective tendering and cash flow generation.

Ambest Revenue Rises

Perth, May 26: Ambest Group Berhad recorded revenue of RM20.37 million for Q1 FY2026, up 57.9 per cent from RM12.90 million in the preceding quarter.
The engineering supporting services provider said the stronger performance was driven by higher customer order deliveries across its precision machining and sheet metal fabrication operations.
Ambest recorded profit before tax of RM1.21 million and profit after tax of RM0.38 million after recognising one-off listing expenses of about RM3.56 million. Excluding these expenses, adjusted profit before tax would have stood at RM4.77 million.

Saliran PAT Jumps 87.84%

Perth, May 26: Saliran Group Berhad recorded revenue of RM113.36 million for Q1 FY2026, marking a 19.33 per cent increase from RM95.00 million in the corresponding quarter last year, driven by stronger customer acquisition and continued domestic demand.
Profit after tax rose to RM2.78 million from RM2.64 million a year earlier, while quarter-on-quarter PAT surged 87.84 per cent from RM1.48 million in Q4 FY2025. The company said the previous quarter had been affected by higher interest expenses and impairment losses.
The group’s supply and distribution segment remained its largest contributor, generating RM111.87 million in revenue, while the manufacturing segment contributed RM1.49 million during the quarter.
Domestic revenue accounted for 98.77 per cent of total revenue in Q1 FY2026, with the remaining contribution coming from overseas markets including Indonesia, Singapore, Vietnam and Thailand.
“Our Q1 FY2026 performance reflects the resilience of Saliran’s core business and the continued demand for our supply and distribution solutions across domestic projects. The year-on-year revenue growth is the resultant of our customer acquisition efforts, which have helped broaden our customer base and strengthen our market reach. While pricing adjustments were necessary to secure new customer accounts in a competitive environment, we remain focused on maintaining disciplined cost control, improving operational efficiency and managing margins prudently. Moving forward, we will continue to build on our domestic presence while selectively pursuing regional opportunities,” said Liaw Choon Wei, Executive Chairman of Saliran Group Berhad.
Looking ahead, the group said it remains cautious over global steel price volatility, geopolitical uncertainties and foreign exchange fluctuations, but remains optimistic on its medium-term prospects supported by domestic demand and expansion plans in Indonesia and neighbouring markets.

Axteria Refreshes Board

Perth, May 26: Axteria Group Berhad has concluded its 27th Annual General Meeting, with shareholders approving all key resolutions tabled, including directors’ fees, directors’ benefits and the re-election of several board members.
The re-elected directors were Yak Boon Tiong, Ku Chong Hong, Oh Bang Han, Dato’ Sri Zaini Bin Jass, Wong Liang Huat and Dr. Dang Nguk Ling, supporting the continuation of the company’s refreshed board composition. The company also noted the retirement of Yau Yin Wee, who withdrew his candidacy for re-election on May 22, 2026.
A proposed resolution to re-appoint Crowe Malaysia PLT as auditors was withdrawn after the firm decided not to seek re-election. Axteria said it has nominated Morison LC PLT as its new auditors, with further announcements to be made once the appointment is finalised.
“We appreciate the continued support and confidence shown by our shareholders at today’s AGM. With the refreshed Board in place, Axteria is focused on strengthening governance, improving execution discipline and positioning the Company for its next phase of growth. The change in auditors is being managed in an orderly manner, and the Board is already evaluating several suitable candidates to ensure continuity, independence and compliance in the Company’s audit process,” said Ku Chong Hong, Executive Director of Axteria Group Berhad.
Shareholders also approved a mandate allowing directors to issue and allot new ordinary shares of up to 10 per cent of the company’s issued shares, providing flexibility for future fundraising activities, including land acquisitions, development projects, working capital and debt repayment.

Alibaba Unveils Agentic AI

Perth, May 26: Alibaba Cloud has unveiled a range of new AI models, infrastructure upgrades and AI-native platforms aimed at supporting the growing “agentic AI” ecosystem for global customers.
Announced at the company’s first international Qwen Conference in Singapore, the updates include the launch of Qwen3.7-Max on Alibaba Cloud’s Model Studio platform in Singapore. Alibaba Cloud said the model ranked fifth globally and first among Chinese models in Artificial Analysis’s latest large language model intelligence index.
The company also introduced a new Skills portal designed to allow AI agents to interact more naturally with cloud resources across more than 60 cloud products, alongside upgrades to its AI infrastructure and the launch of Qwen Cloud, a new AI-native cloud platform for developers and enterprises.
“The agentic era represents a paradigm shift in how we interact with technology,” said Dr. Feifei Li, Chief Technology Officer and President of International Business of Alibaba Cloud.
Alibaba Cloud also announced a Singapore initiative with the Tech Talent Assembly and ST Telemedia Global Data Centres to equip more than 1,000 SMEs and students with practical generative and agentic AI skills through training and access to Alibaba’s AI solutions.
At the event, Alibaba Cloud also launched the JVS Agent Suite for enterprise AI deployment, joined the PyTorch Foundation as a Platinum member, and announced a global hackathon and AI-generated short film competition using its Qwen and HappyHorse models.

Eckem IPO Launched

Perth, May 25: Eckem Holdings Berhad has launched its prospectus ahead of its planned listing on the ACE Market of Bursa Malaysia.
The specialty industrial chemical solutions provider’s IPO comprises a public issue of 125 million new shares and an offer for sale of 62.5 million existing shares.
Based on an IPO price of RM0.12 per share, the public issue is expected to raise RM15 million for the group.
The proceeds will be used for a new corporate office, warehouse and laboratory, a new rubber products production line, repayment of bank borrowings, working capital and listing expenses.
Eckem mainly serves customers in Malaysia, which accounted for about 94 per cent of its revenue in FYE 2025, while also maintaining a presence in overseas markets including China, Singapore, the United Kingdom and the United States.

SBH Revenue Hits RM39m

Perth, May 25: SBH Marine Holdings Berhad recorded revenue of RM39.2 million for Q1 FY2026 amid raw material supply constraints, foreign exchange volatility and softer export market conditions.
The group’s processing and sale of frozen seafood products segment contributed RM28.4 million in external revenue, while its merchant trading segment contributed RM10.4 million.
SBH Marine recorded a loss before tax of RM2.4 million, compared with a profit before tax of RM1.6 million a year earlier, mainly due to reduced premium shrimp processing volumes, softer average selling prices, higher freight pressures and net foreign currency losses.
The group said its Selinsing Farm expansion remained on schedule, with 62 shrimp ponds completed and ready for cultivation. Construction of Block G, which will add 13 ponds, also began during the quarter.
SBH Marine said it expected the temporary shrimp supply situation to gradually recover by the end of Q2 or early Q3 2026, while it continues to strengthen aquaculture capacity, sourcing and cost management.

Sunzen Profit Surges

Perth, May 25: Sunzen Group Berhad recorded revenue of RM23.97 million and profit before tax of RM3.15 million for Q3 FY2026, supported by its loan financing business and stronger edible bird’s nest exports.
For the nine months ended March 31, 2026, the group’s revenue rose 12 per cent year-on-year to RM73.89 million, while profit before tax surged 137.3 per cent to RM13.48 million.
The loan financing segment remained the group’s key earnings contributor, with Q3 revenue rising 36.8 per cent to RM4.83 million and profit before tax increasing 41.7 per cent to RM3.57 million.
Sunzen’s human health segment recorded revenue of RM17.28 million for the quarter, up 78.5 per cent from a year earlier, supported by stronger demand for edible bird’s nest products.
The group said it remained cautiously optimistic, with plans to strengthen distribution, expand retail and online sales channels, and improve operational efficiency across its core businesses.

Kee Ming Revenue Jumps

Perth, May 25: Kee Ming Group Berhad recorded revenue of RM151.49 million for FY2026, up 142.7 per cent from RM62.41 million a year earlier.
The mechanical and electrical engineering solutions provider also posted profit before tax of RM23.25 million, an increase of 112.6 per cent from FY2025, while profit after tax rose 99 per cent to RM16.27 million.
For Q4 FY2026, the group recorded revenue of RM41.85 million and profit before tax of RM9.10 million, supported mainly by its M&E engineering services segment.
The group said its improved Q4 profitability was driven by a better project mix, higher contribution from industrial projects, variation orders and effective cost management.
As at March 31, 2026, Kee Ming’s outstanding order book stood at RM151.9 million, providing earnings visibility as it enters FY2027.