KUALA LUMPUR (May 13): Here is a brief recap of some corporate announcements that made the news on Tuesday.

As U Mobile Sdn Bhd has been appointed to roll out the second 5G network in the country, its stake in Digital Nasional Bhd (DNB) will be taken over by CelcomDigi Bhd (KL:CDB), Maxis Bhd (KL:MAXIS), YTL Power International Bhd (KL:YTLPOWR) and the Minister of Finance Inc (MOF Inc). U Mobile agreed to sell its entire 100,000 shares in the 5G network wholesaler for RM100,000 based on RM1 per share. CelcomDigi, Maxis and YTL Power will each acquire 33,333 shares, while the MOF Inc will take one share. DNB’s revised shareholding structure will see MOF Inc’s stake increasing to 41.67% from 34.88% previously, after Telekom Malaysia Bhd’s (KL:TM) plan to buy a stake in DNB was terminated. Meanwhile, CelcomDigi, Maxis and YTL Power will each hold 19.44% in DNB compared to 16.28% previously. Under the revised terms, U Mobile will no longer be entitled to exercise its put or call options. DNB, a special-purpose vehicle under MOF, was initially established to deploy 5G infrastructure and serve as the sole provider of wholesale 5G services to telcos. — U Mobile stake in DNB to be taken over by CelcomDigi, Maxis, YTL Power, MOF Inc

Distributor of products for Fortune 500 companies, DKSH Holdings Malaysia Bhd (KL:DKSH) reported a net profit of RM48.17 million for the first quarter ended March 31, 2025 (1QFY2025), its highest quarterly profit since 4Q2013. This was driven by higher revenue, cost savings and favourable foreign exchange gains. Net profit increased 19.1% compared to the previous year, with revenue rising 7.1% to a record RM2.22 billion. Revenue growth was fuelled by sales from new and existing clients in the consumer goods and healthcare segments, along with higher outlet sales in the other segment. No dividends were declared for the quarter. — DKSH posts RM48.2m profit in 1Q on record revenue and cost savings

Kerjaya Prospek Group Bhd (KL:KERJAYA) said an adjudicator has ordered Yong Tai Bhd (KL:YONGTAI) to pay the construction outfit RM75.46 million over an alleged unpaid contract for a mixed development project in Melaka, known as “The Apple”. An adjudicator is a neutral party who helps resolve such disputes quickly, especially in construction and contract cases. Kerjaya Prospek’s unit Kerjaya Prospek (M) Sdn Bhd (KPM) filed the adjudication against Apple 99 in November 2024. The RM75.46 million adjudication award is 71.8% of the outstanding sum claimed by KPM, amounting to RM105.14 million. The work was part of a RM213.75 million contract awarded to KPM in 2016 for the main building works of a project that included a 16-storey hotel, a 32-storey service suite tower, and an eight-storey parking podium. The lawsuit is still ongoing, with trial dates set for October this year. — Kerjaya Prospek wins RM75.46m adjudication award in dispute with Yong Tai

Glove-dipping line maker HLT Global Bhd’s (KL:HLT) unit has received a counterclaim from a former customer for RM50.74 million in a dispute linked to glove-dipping machines it supplied. Its customer, Encompass Industries Sdn Bhd, counterclaimed against HLT Global’s unit HL Advance Technologies (M) Sdn Bhd (HLAT) for the sum in special damages. The counterclaim was in response to HLAT’s suit against Encompass Industries initiated back in February this year, where HLAT was claiming RM3.09 million in outstanding invoices plus RM1.72 million in interest pertaining to the glove-dipping machines delivered. — HLT Global receives RM50.74m counterclaim from customer over glove-dipping machine dispute

The Federal Court has granted the Attorney General’s Chambers (AGC) leave to appeal against the Court of Appeal’s (COA) decision in favour of UEM Sunrise Bhd's (KL:UEMS) unit UEM Land Bhd challenging the RM8.49 million additional tax assessment and penalty slapped by the Inland Revenue Board. Last December, the appellate court allowed UEM Land’s appeal against the High Court’s decision in March 2023 to dismiss the company’s leave application for a judicial review and stay on payments of the additional taxes and penalty. On this latest development, UEM Sunrise said it will defend this matter vigorously and make further announcements when there are material developments on the matter. The notice of additional assessment and penalty of RM8.49 million was for the years 2013 to 2018, following the removal of Bumiputera quota and low-cost requirements at UEM Land’s selected developments in Iskandar Puteri. — AGC granted leave to appeal COA ruling allowing UEM Sunrise unit to challenge RM8.49 mil additional tax assessment

Construction outfit Nestcon Bhd (KL:NESTCON) has secured a subcontract worth RM44.12 million for site clearing and earthworks at a 1,382-acre mixed development in Seremban, Negeri Sembilan. This marks the fifth project that Nestcon has secured year-to-date, bringing the value of its contract wins to RM455.43 million. The tenure of the contract is 32 months and was awarded by Matrix Excelcon Sdn Bhd, a construction arm of Matrix Concepts Holdings Bhd (KL:MATRIX). — Nestcon wins RM44 mil earthworks job in Seremban from Matrix Concepts' unit

Dagang NeXchange Bhd (KL:DNEX), through its unit Dagang Net Technologies, has secured US$1.8 million (RM7.8 million) in contracts to support Saudi Arabia’s Makkah Route initiative in 2025. The contracts involve providing technical and equipment support at six international sites in Malaysia, Indonesia, and Türkiye. The Makkah Route initiative, part of Saudi Arabia’s Pilgrim Experience Programme under Vision 2030, aims to streamline immigration and ease pilgrims’ arrival in Saudi Arabia. It has secured six out of the 11 global Makkah Route sites this year, and aims to secure more sites in the next haj season. — DNeX secures US$1.8m contracts for Makkah pilgrim programme in 2025

Nextgreen Global Bhd (KL:NGGB), a company that turns oil palm empty fruit bunches into paper, is entering the Libyan market through an exclusive distribution and supply agreement for its organic fertiliser products. Nextgreen Fertilizer Sdn Bhd, the fertiliser manufacturing unit of Nextgreen, appointed the group’s 49%-owned associate, P Teguh Nextgreen Sdn Bhd (PTNG), as its exclusive distributor in the Libyan market. PTNG has signed a contract with Libyan companies INBAT Global and Fazzan Cooperative Association for the supply and sale of its organic fertiliser products in Libya. The agreement starts when the first purchase order is accepted and lasts for one year, with an option to renew. PTNG will buy up to 25,000 tonnes of fertilisers annually, including 5,000 tonnes of NexBooster and 20,000 tonnes of NexCompost. — Nextgreen expands organic fertiliser products into Libyan market

OM Holdings Ltd (KL:OMH) is selling its 26% stake in Ntsimbintle Mining to South Africa’s Exxaro Resources for 1.86 billion rand (RM439.2 million). Ntsimbintle owns 50.1% of Tshipi é Ntle, which runs the Tshipi Borwa Mine — one of the largest manganese mines in South Africa and among the top five globally. The other 49.9% is held by Australian exchange-listed Jupiter Mines. Through its stake in Ntsimbintle, OM Holdings effectively owns 13% of Tshipi. A conditional binding sale and purchase agreement was inked between OM Holdings’ unit OMH (Mauritius) Corp and Exxaro for the deal. The sale depends on Ntsimbintle Holdings, which owns the other 74% of Ntsimbintle Mining, also selling its stake to Exxaro. The deals are expected to be completed in early 2026. — OM Holdings to sell 26% stake in South African manganese mining firm for RM439.2m