Business

Binastra Corporation Bhd net profit for the third quarter ended Oct 31, 2025 (3Q26) rose 55.1% to RM37.54 million from RM24.20 million in the same period last year.

Earnings per share was up to 3.44 sen from 2.23 sen, the group’s bourse filing on Dec 18 showed.

Quarterly revenue grew almost 40% to RM91.09 million from RM65.16 million, mainly on an increased number of ongoing construction projects during the quarter and contributions from its newly acquired 51%-owned subsidiary LF Lansen.

The group recorded revenue of RM371.4 million and profit before tax of RM51.2 million for the quarter, versus RM265.9 million and RM32.9 million a year earlier, mainly driven by the construction segment.

For the first nine months of the year, the group’s net profit climbed 39.8% to RM371.45 million from RM265.89 million a year earlier, as revenue increased 51.56% to RM1.025 billion from RM676.4 million.

Looking ahead, the group said it secured two material letters of award worth a combined RM437.0 million during the quarter and its outstanding order book stood at about RM4.6 billion, which is expected to provide earnings visibility over the next four financial years.

The share price finished 3 sen or 1.41% lower to RM2.10 on Thursday (Dec 18), bringing it a market capitalisation of RM2.92 billion. –TMR

The post Binastra 3Q profit up 55% on stronger jobs appeared first on The Malaysian Reserve.

UNITED Malacca Bhd’s net profit rose 79.1% to RM55.37 million in its second quarter ended Oct 31, 2025 (2Q26), compared with RM30.92 million for the corresponding quarter last year, in line with higher revenue.

Revenue increased by 31.1% to RM240.46 million from RM183.44 million in the same quarter last year, due to higher fresh fruit bunches (FFB) production, average crude palm oil (CPO) price and lower unit cost of production.

The group declared a first interim single-tier dividend of 7 sen per share, payable on Jan 30, 2026.

For its six month period, the oil palm company’s net profit doubled to RM93.13 million compared with RM44.21 million, while its revenue grew 24.4% to RM432.09 million from RM347.32 million in FY25.

In terms of prospects, the group expects FFB production to increase in the financial year ending April 30, 2026 (FY26) due to better age profile and improvement in operational efficiency.

“Management’s priority remains focused on improving labour productivity, mechanisation initiatives and cost efficiency as well as increasing oil yield.

“Assuming (crude palm oil) CPO prices remain at the current level, the group expects satisfactory results for FY26,” it said in a Bursa filing.

Its stock closed unchanged at RM5.74, with a market capitalisation of RM1.20 billion. – TMR

The post United Malacca’s 2Q net profit jumps 79%, declares 7-sen dividend appeared first on The Malaysian Reserve.

HAILY Group Bhd has secured a contract worth RM97.99 million for a mixed housing development in Taman Setia Tropika, Johor, from Setia Indah Sdn Bhd.

Its wholly-owned subsidiary Haily Construction Sdn Bhd accepted a letter of award issued by Arkitek N Kang on behalf of Setia Indah for the project to build 108 affordable double storey town houses and 203 double storey terrace houses.

The scope of work includes related infrastructure works including drainage, roads, utilities, substations and landscaping, Haily said in an exchange filing today.

The project is scheduled to commence on Dec 22, with completion targeted for June 21, 2027.

In a separate announcement, Haily said Haily Construction has mutually terminated a RM9.41 million construction contract in Kulai, Johor, after the lapse of the anticipated commencement date.

Haily shares closed at 21.5 sen today with 55,100 shares exchanging hands, giving it a market capitalisation of RM91 million. – TMR

The post Haily lands RM98m Johor housing job, terminates Kulai project appeared first on The Malaysian Reserve.

GADANG Bhd has inked a power purchase agreement (PPA) with Sabah Electricity for a 15MWac large-scale solar project in Tawau, Sabah.

The PPA was signed on Dec 18 via its 60%-owned subsidiary Tenaga Aspirasi Sdn Bhd for 25 years from the commercial operation date, which is expected on Nov 30, 2026.

Tenaga Aspirasi will design, construct, test, commission, own, operate and maintain the solar photovoltaic facility, which will connect to Sabah Electricity’s medium-voltage distribution network at PPU Kubota, Gadang said in an exchange filing today.

The project traces back to Dec 30, 2024, when Regional Utilities Sdn Bhd (RUSB), a wholly owned unit of Gadang, and Hotrend Corporation Sdn Bhd accepted an offer notification from the Energy Commission of Sabah to develop the 15MWac plant.

Gadang later said the joint venture vehicle, Tenaga Aspirasi, was incorporated on April 10, 2025 with a 60:40 equity split between RUSB and Hotrend. –TMR

The post Gadang unit inks 25-year solar PPA with Sabah Electricity for 15MWac Tawau plant appeared first on The Malaysian Reserve.

ADVANCECON Holdings Bhd via its wholly owned subsidiary Advancecon Infra Sdn Bhd has won a RM19.33 million contract from Damai Jaya Realty Sdn Bhd for earthworks and related site works for an industrial development in the district of Ijok, Selangor.

In an exchange filing today, the group said the project is located within the Kuala Selangor corridor, adding that the award strengthens its presence in Selangor.

“Selangor remains an important growth market for the group, and we are encouraged by the steady flow of industrial-related opportunities. We remain focused on disciplined execution, cost control, and maintaining high safety and quality standards as we grow our order book,” said group CEO Datuk Phum Ang Kia.

Its stock closed 2.6% higher at 20 sen, giving it a market capitalisation of RM117 million. — TMR

The post Advancecon bags RM19m earthworks job in Kuala Selangor appeared first on The Malaysian Reserve.

GENTING Plantations Bhd has completed the acquisition of two contiguous parcels of land within the Sentul City township in Bogor, West Java, Indonesia, following full settlement of the purchase consideration and execution of the sale and purchase deed.

In an exchange filing today, the group said the proposed acquisitions were completed on Dec 17, 2025, after the purchasers paid the balance of the final total purchase consideration and executed the deed of sale and purchase for the Sentul City land.

The land acquired has a final aggregate area of about 149 hectares of certificated land, compared with the initially proposed 152 hectares.

The final total purchase consideration was IDR1.7845 trillion (about RM442.5 million), lower than the IDR2.052 trillion disclosed in July 2024, following revisions to the transaction terms.

The revised terms included a lower average unit purchase price based on technical and feasibility studies, as well as changes to the deferred payment structure, with the deferred amount paid on completion instead of over five anniversaries.

The acquisitions became unconditional on Nov 18, 2025, and were undertaken as non-related party transactions.

Genting Plantations shares closed 0.20% lower at RM5.01, with a market capitalisation of RM4.38 billion. — TMR

The post Genting Plantations completes RM443m Sentul City land acquisition in Indonesia appeared first on The Malaysian Reserve.

by AUFA MARDHIAH

SUNWAY Construction Group Bhd (SunCon) has secured a RM570 million core-and-shell package for a data centre development in Johor from a US-headquartered multinational technology corporation.

The deal was accepted by its wholly-owned unit Sunway Construction Sdn Bhd on Dec 18, 2025, it said in an exchange filing today without identifying the US company.

SunCon said the client has an option to award the mechanical and engineering fit-out package to its unit, subject to finalisation and execution of the contract.

The LOA also serves as a notice to commence, with completion targeted by 4Q26.

SunCon said the project is expected to contribute positively to earnings from FY25 onwards, barring unforeseen circumstances.

As at Dec 18, SunCon said its outstanding order book stood at RM6.1 billion, while total new projects secured this year, including this job, amounted to RM4.6 billion.

The post SunCon wins RM570m Johor data centre job from US tech multinational appeared first on The Malaysian Reserve.

YINSON Holdings Bhd subsidiary Yinson Renewables has acquired the rights to the 94.6-megawatt (MW) Mt Cass Wind Farm in New Zealand from MainPower New Zealand Ltd, marking its first wind project under construction and its debut in the country.

In an exchange filing today, the company said the construction is expected to begin in early 2026, with operations targeted for 2028.

Yinson Renewables is the first global independent power producer to own and construct a wind farm in the country, said its CEO David Brunt.

Once operational, the Mt Cass Wind Farm is expected to generate more than 300 gigawatt-hours (GWh) of electricity annually — enough to power about 40,000 households.

The statement said the project adds much-needed generation capacity to New Zealand’s upper South Island and is aligned with the country’s decarbonisation objectives.

Yinson Renewables chief executive officer David Brunt said the acquisition represents a significant expansion of the group’s footprint in New Zealand.

Yinson Renewables currently has 557MW of renewable assets in operation globally, with more than 0.9 gigawatts in development or construction and over 2.4 gigawatts at early-stage development.

Yinson Holdings shares ended the day unchanged at RM2.34, giving the group a market capitalisation of RM7.53 billion. — TMR

The post Yinson Renewables acquires wind farm in New Zealand appeared first on The Malaysian Reserve.

SARAWAK-OWNED airline AirBorneo has opened ticket sales following the launch of its official website on Dec 10, with flights scheduled to commence on Jan 14, 2026.

The move marks a significant milestone in Sarawak’s plans to establish a state-owned commercial airline and strengthen air connectivity within and beyond the state.

Initial checks by the New Straits Times show that AirBorneo’s early operations will focus on domestic routes within Sarawak and Sabah, operated using turboprop aircraft under the Rural Air Services (RAS) framework.

Pricing on airborneo.com indicates that a return economy class flight from Kuching to Bintulu, departing on Feb 6 and returning on Feb 13, 2026, is priced at RM504 per adult under the RAS Basic fare.

The RAS Basic fare includes 7kg of hand-carry baggage and two pieces of checked baggage with a combined maximum weight of 10kg, but excludes in-flight meals and seat selection.

It also carries penalties of up to RM50 per passenger for flight changes and RM120 per passenger for refunds.

For the same outbound leg on Feb 6, the RAS Flex fare was marginally higher at RM288 one way compared with RM285 for the RAS Basic fare, with both options offering identical baggage entitlements and no onboard meals or seat selection.

Differences between the two fare types were more apparent on the return leg on Feb 13.

While the RAS Basic fare was priced at RM219 with the same change and refund penalties, the RAS Flex fare cost RM228 and allowed flight changes without penalty, alongside a reduced refund fee of RM20 per passenger.

Baggage allowances and onboard inclusions remained unchanged.

Beyond domestic services, AirBorneo’s launch aligns with broader Sarawak government plans to expand the airline’s role regionally.

According to the Borneo Post, AirBorneo is planning to introduce direct flights between Sarawak and Singapore, a move expected to boost tourism and regional mobility.

Singapore’s minister for social and family development, Masagos Zulkifli has previously said such services would enhance mobility and tourism opportunities.

Sarawak premier Tan Sri Abang Johari Tun Openg has also said the airline is targeting the introduction of jet operations by July 2026, signalling a shift beyond turboprop aircraft as the network expands.

Two international destinations he mentioned, as quoted by The Borneo Post on Dec 6, were Singapore and Jeju Island in South Korea.

Sobie Aviation Pte Ltd aviation analyst and consultant Brendan Sobie said smaller narrowbody aircraft would be more suitable as AirBorneo moves into jet operations.

He stated aircraft such as the Airbus A220 or Embraer E2 would be more sensible given market size and demand patterns, adding that both offer strong range capabilities across Asia and parts of Australia.

“A320s and Boeing 737s are also possible based on requirements, but I think in this case smaller aircraft are better.

“Ultimately, it could depend more on availability than anything else, given the tight supply in the market due to delivery delays and supply chain constraints,” Sobie said to NST.

On competition, Sobie said AirBorneo’s entry into jet operations would not create a level playing field, as the airline would need to be heavily subsidised on both rural turboprop routes and any jet routes it launches.

She said AirBorneo will compete against AirAsia, Malaysia Airlines Bhd and others, as the rural turboprop routes do not have competition.

“I would expect operators on existing jet routes that AirBorneo enters to have no choice but to reduce capacity and, in some cases, exit due to the unlevel playing field.

“I think Sarawak has underestimated the impact that launching a subsidised airline will have on existing players, and their traffic forecasts for Kuching, Miri, Bintulu and Sibu should take this into account,” Sobie added.

On Nov 26, the Business Times reported that AirBorneo had appointed Malaysia Airports Holdings Bhd’s chief aviation and strategy officer, Megat Ardian Wira Mohd Aminuddin, as its CEO.

Details on the airline’s fleet and route strategies remain undisclosed, although Abang Johari has previously said Sarawak aims to emulate the success of Dubai-based Emirates.

AirBorneo is the rebranded entity of MASWings, following Sarawak’s acquisition of the airline from Malaysia Aviation Group under a sale and purchase agreement signed on Feb 12.

The post AirBorneo begins ticket sales ahead of January 2026 launch appeared first on The Malaysian Reserve.