KUALA LUMPUR (Aug 27): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

AirAsia X Bhd’s (KL:AAX) net profit for 2QFY2025 rose to RM35.22 million from RM4.82 million in 2QFY2024 thanks to lower fuel costs and the weaker US dollar, even as revenue fell to its lowest in nearly two years amid the seasonally lean travel period. Quarterly revenue slipped 1.2% y-o-y to RM660.8 million from RM669.14 million on lower average passenger fares, which offset higher passenger count and higher average ancillary revenue compared with a year ago. No dividend was declared for the quarter. — Cheaper fuel, US dollar offset lower fares’ impact on AAX in 2Q; AirAsia acquisition completion delayed again

Berjaya Land Bhd’s (KL:BJLAND) net loss for 4QFY2025 shrank y-o-y to RM15.43 million from RM79.91 million in 4QFY2024, helped by a RM38.33 million court-awarded compensation linked to the Selangor Turf Club project. Quarterly revenue fell 2.4% y-o-y to RM1.91 billion from RM1.96 billion. No dividend was declared for the quarter under review. — Berjaya Land extends losing streak, but cuts 4Q losses

Hartalega Holdings Bhd (KL:HARTA) said it has secured the court’s permission to commence a judicial review of additional tax bills totalling more than RM100 million issued by the Inland Revenue Board. An ad interim stay of enforcement of the additional assessments was also granted pending the judicial review. — Hartalega gets court's nod to challenge additional tax bills

IGB Bhd’s (KL:IGBB) net profit for 2QFY2025 edged up a marginal 0.2% to RM75.33 million from RM75.18 million in 2QFY2024 despite higher revenue, weighed down by higher taxation. Quarterly revenue, meanwhile, rose 14.2% y-o-y to RM452.41 million from RM396.78 million, on the back of improved contributions across all business segments. No dividend was declared for the quarter. — IGB posts flat 2Q profit dragged by higher taxation

IOI Properties Group Bhd (KL:IOIPG) confirmed that it is planning a real estate investment trust to be listed on Bursa Malaysia's Main Market, as it announced the incorporation of a subsidiary, IOIPG REIT Management Sdn Bhd, to be the REIT's manager. Meanwhile, IOIPG’s net profit for 4QFY2025 fell 46.7% y-o-y to RM823.93 million from RM1.55 billion, dragged by lower fair value gains from investment properties. Quarterly revenue rose 13.7% to RM890.21 million from RM782.61 million. Excluding one-off items such as the fair value gains from investment properties and asset write-downs, underlying profit before tax leapt to RM214.1 million in 4QFY2025 from RM87.3 million a year ago. The group declared an interim dividend of eight sen per share. — IOI Properties confirms REIT plan as it declares higher dividend on stronger underlying profit

Jati Tinggi Group Bhd’s (KL:JTGROUP) wholly-owned unit Jati Tinggi Holding Sdn Bhd has bagged a RM46.7 million subcontract work for the installation, testing and commissioning of 11 kilovolt underground cables and accessories. It secured the award from main contractor YM Teras Sdn Bhd. — Jati Tinggi's unit secures RM47 mil sub-contract for underground cables works

Leong Hup International Bhd’s (KL:LHI) net profit for 2QFY2025 dropped 6.4% y-o-y to RM90.29 million from RM96.50 million, due to a decline in its Indonesian operations. Quarterly revenue dropped 9.4% y-o-y to RM2.13 billion from RM2.36 billion, as revenue for its feed mill segment fell 15.5% during the quarter to RM832 million on lower selling prices in Indonesia. No dividend was declared for the quarter. — Leong Hup’s 2Q net profit slips on decline in Indonesian ops; expects stable margins ahead

Malayan Banking Bhd’s (KL:MAYBANK) net profit for 2QFY2025 rose nearly 4% y-o-y to RM2.63 billion from RM2.53 billion, as higher income offset rising provisions for bad debts. Net interest income inched up 1.1% y-o-y while non-interest income climbed 18% during the quarter. Maybank declared a first interim dividend of 30 sen per share. Maybank also reiterated its target for a return on equity of at least 11.3% for FY2025. However, Maybank lowered its loan growth guidance for the year to around 3% from 5%-6% previously, citing client caution amid tariff uncertainties, which had led to delays in planned investments and capital-raising activities. — Maybank posts 4% rise in 2Q net profit, declares 30 sen dividend

MBSB Bhd’s (KL:MBSB) net profit for 2QFY2025 jumped 74.3% y-o-y to RM95.56 million from RM54.83 million on a 41.5% decline in expected credit losses on loans, financing and advances, and other impairment. Quarterly revenue slipped 2.9% y-o-y to RM933.43 million from RM960.85 million. MBSB declared an interim dividend of two sen per share. — MBSB’s 2Q net profit surges 74% on lower provisions, declares two sen dividend

OCK Group Bhd (KL:OCK) said it intends to list its 52%-owned energy solutions unit, EI Power Technologies Sdn Bhd (EIPT), on the ACE Market of Bursa Malaysia. The proposed listing will be done through a new company, EI Power Bhd, which will take over as the parent firm of EIPT and its two subsidiaries — EI Power Nexus Sdn Bhd and EI Power (Thailand) Co Ltd. — OCK plans to list 52%-owned power unit on ACE Market

Pharmaniaga Bhd’s (KL:PHARMA) net profit for 2QFY2025 rose 41.6% y-o-y to RM3.96 million from RM2.8 million, as quarterly revenue climbed 10.57% to RM926.86 million from RM838.26 million, driven by stronger demand from the government’s concession. Meanwhile, the group said it is eyeing a government tender to supply human insulin products worth over RM400 million. No dividend was declared for the quarter. — Pharmaniaga eyes RM400m insulin supply tender; 2Q net profit up 42% on higher concession demand

Public Bank Bhd’s (KL:PBBANK) net profit for 2QFY2025 declined 1% y-o-y to RM1.76 billion from RM1.78 billion, dragged by lower non-taxable income. Net interest income rose 5.1% y-o-y while non-interest income climbed 15% during the quarter. The bank declared a first interim dividend of 10.5 sen per share. — Public Bank 2Q net profit slips, declares 10.5 sen dividend

Supermax Corp Bhd’s (KL:SUPERMX) net loss for 4QFY2025 shrank to RM67.04 million from RM128.52 million in 4QFY2024, as cost rationalisation efforts helped cushion the impact of declining revenue. Quarterly revenue dropped 13.9% y-o-y to RM154.75 million from RM179.64 million, dragged by lower sales volumes in key markets. No dividend was declared for the quarter. — Supermax narrows net loss in 4Q, FY2025 on lower expenses

TH Plantations Bhd (KL:THPLANT) announced it has terminated CEO Mohamed Zainurin Mohamed Zain’s contract. The company said Mohamed Zainurin was removed following misconduct. This follows show cause letters issued in July to him and chief financial officer Marliyana Omar over alleged unauthorised payments of RM5.1 million to plantation workers. Marliyana resigned following receipt of the show cause letter. — TH Plantations ends CEO Mohamed Zainurin's contract over alleged RM5.1m unauthorised payments

UOA Development Bhd’s (KL:UOADEV) net profit for 2QFY2025 surged 50% y-o-y to RM91.71 million from RM61.05 million, thanks to progressive revenue from four projects. Quarterly revenue rose 31% y-o-y to RM130.16 million from RM99.22 million. No dividend was declared for the quarter. — UOA Development net profit surges 50% in 2Q on progressive revenue from four projects

WCE Holdings Bhd (KL:WCEHB) is aiming to complete the West Coast Expressway by the financial year ending March 31, 2027 (FY2027). To date, eight out of the expressway’s 11 sections are already operational, including the entire Perak alignment. Meanwhile, WCE's earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 84% to RM33.4 million in the first quarter ended June 30, 2025, up from RM18.1 million a year earlier, thanks to 61% higher toll revenue of RM42.02 million due to more traffic after opening three new sections of the highway. — WCE targets completion of West Coast Expressway by FY2027