KUALA LUMPUR (Sept 17): Here is a brief recap of the key business news and corporate announcements on Wednesday:

Advancecon Holdings Bhd’s (KL:ADVCON) unit has won a RM66.9 million contract from JLG Technopark to carry out earthworks and related tasks for phase one of Southern Ibrahim Technopolis (IBTEC) in Kulai, Johor. The project undertaken by Advancecon Infra Sdn Bhd will take 16 months starting Sept 24, 2025. IBTEC is a large 7,290-acre township in Johor, part of the Johor-Singapore Special Economic Zone, aimed at boosting cross-border investment, digital infrastructure and sustainable urban growth. — Advancecon unit bags RM66.9 mil earthworks job for Southern Ibrahim Technopolis

Plastic pipes and fittings manufacturer Resintech Bhd (KL:RESINTC) has secured a contract worth US$3.93 million (RM16.5 million) from Phnom Penh Water Supply Authority in Cambodia for the supply of high-density polyethylene (HDPE) pipes and fittings. Resintech said the five-month contract, which is non-renewable, is expected to be completed by February 2026. — Resintech secures pipe supply contract in Cambodia

Former TH Plantations Bhd (KL:THPLANT) chief executive officer Mohamed Zainurin Mohamed Zain has filed a complaint of unfair dismissal with the Industrial Relations Department (IRD) against the plantation group under Lembaga Tabung Haji. Zainurin, 58, is seeking reinstatement after he was removed from his post on Aug 26, following allegations of unauthorised payments of RM5.1 million to plantation workers. The IRD has fixed a "reconciliation session" between Zainurin and TH Plantations on Oct 30. — Sacked TH Plantations CEO lodges unfair dismissal complaint

Genting Malaysia Bhd (KL:GENM) said on Wednesday that its business partner RAV Bahamas Ltd has filed an amended complaint in a US court in Florida. The amended complaint, lodged on July 29, names Genting Malaysia’s indirect wholly owned subsidiary Genting Americas Inc (GAI) and repeats earlier allegations without introducing new material facts. “GAI maintains that the amended complaint is baseless and without merit and will continue to vigorously defend against these claims,” Genting Malaysia said. GAI — an affiliate of BB Entertainment Ltd, the owner and operator of Resorts World Bimini in the Bahamas — was first named in a complaint by RAV in October 2024. BB Entertainment is 78%-owned indirectly by Genting Malaysia, with RAV holding the remaining 22%. RAV alleges that GAI saddled Resorts World Bimini with nearly US$1 billion in debt, turning it into a “financial wasteland”, according to Bahamian news portal The Tribune. It is seeking more than US$600 million (RM2.57 billion) in damages. — Genting Malaysia's US unit to contest amended US$600 mil lawsuit filed by business partner

Property developer Asian Pac Holdings Bhd (KL:ASIAPAC) has proposed to dispose of a 35.72-hectare freehold land in Semenyih, Selangor for RM87.69 million cash. The company said the land, which is currently vacant, was valued at RM91.5 million in April by independent valuer Henry Butcher Malaysia (SEL) Sdn Bhd. Asian Pac said it views the disposal price as reasonable despite being 4.2% below market value, as it reflects demand for large land parcels in Semenyih and aligns with the group’s financial strategy. Proceeds from the disposal will be used for working capital, current and upcoming developments, and debt reduction, with full utilisation expected within 24 months of completion. The disposal is expected to be completed within three months. — Asian Pac to sell Semenyih land for RM87.7 mil to fund developments, cut debt

MKH Bhd (KL:MKH) has proposed to dispose of its furniture manufacturing subsidiary in China to focus on its property and plantation business. The group has entered into a deal to sell Vast Furniture Manufacturing (Kunshan) Co Ltd to Kunshan Meiao New Energy Technology Co for 84 million yuan (RM49.53 million) in cash. The assets covered under the disposal include a piece of land measuring 40,140 sq m together with six industrial buildings and other buildings and utilities infrastructure as well as machinery, office equipment and vehicles. MKH said the disposal is expected to result in a gain of RM26.55 million from the disposal. — MKH to sell China furniture unit for RM49.5 mil

Rex Industry Bhd (KL:REX) is selling its entire Malaysian food and beverage operations for RM40 million in cash, as the canned food and drinks maker shifts focus to its more profitable Indonesian subsidiary. The group said it had entered into a conditional share sale agreement with its non-independent executive director and group managing director Darmendran Kunaretnam to sell 100% stakes in Rex Canning Co Sdn Bhd and Rex Trading Sdn Bhd, both of which handle procurement, processing and distribution of its Rex-branded products in Malaysia. Rex Industry said the move would allow the group to exit its loss-making Malaysian business, which has struggled in recent years following the decommissioning of its Bukit Minyak manufacturing facility in 2023 and rising procurement costs from contract manufacturers. Proceeds from the disposal will be channelled towards working capital for PT Rex Canning in Indonesia, which manufactures canned seafood for export under contract manufacturing arrangements. — Rex Industry to sell Malaysian ops for RM40 mil cash, shift focus to Indonesian unit

HCK Capital Group Bhd (KL:HCK) said it had entered into a joint-venture deal with a landowner to undertake a property development in Cheras with an estimated gross development value of RM600 million. The group said its indirect wholly owned subsidiary Trilink Essential Sdn Bhd (TESB) signed the agreement with the landowner, Bongsor Development Sdn Bhd, for the development of the 6.87-hectare parcel of freehold land. Under the agreement, TESB will be granted exclusive rights to design and execute the development, as well as to market and sell the units that form part of the development. The company will be entitled to all revenue and proceeds from the project, save for a portion allocated to Bongsor Development, in the form of cash and unit entitlements. Construction is expected to begin within two years and be completed within five years, with an option to extend for another year. — HCK Capital inks JV deal for Cheras development 

Greenyield Bhd (KL:GREENYB) has rejected a request by a group of shareholders to convene an extraordinary general meeting (EGM) to remove the company's chief executive officer Tham Kin-On from his position. The board of directors is of the view that the resolutions proposed in the notice of requisition dated Sept 8 are unclear and not in the best interest of the company, said Greenyield. The requisition was filed by seven shareholders holding a collective 51.1% stake in Greenyield, including three of Kin-On's uncles, namely Tham Chong Sing (who holds a direct 13.1% stake in the company), Tham Foo Choon (13%), and Tham Fau Sin (10.9%). The other shareholders in the group were Chew Kee Foo (5.6%), Foong Sai Cheong (4.4%), DKIC Capital Sdn Bhd (3.5%), and Voon Sze Lin (0.6%). The group sought to remove Kin-On from all his positions within the company and its subsidiaries, citing unsatisfactory performance and declining shareholder confidence under his leadership. — Greenyield rejects shareholders' bid to hold EGM to remove CEO

Scientex Bhd (KL:SCIENTX) said on Wednesday it is eyeing a stronger pipeline of property launches in 2026, despite reporting a 2.7% decline in net profit for the financial year ended July 31, 2025 (FY2025). Full-year net profit stood at RM530.8 million, compared with RM545.2 million a year earlier, the packaging manufacturer and property developer said. The weaker performance came as improved operating profit from its property segment was offset by a softer showing from the packaging division. Revenue, however, rose 0.9% to RM4.52 billion from RM4.48 billion in FY2024. Packaging revenue slipped 4.3% to RM2.48 billion from RM2.59 billion, while property revenue climbed nearly 8% to RM2.03 billion from RM1.88 billion. For the fourth quarter ended July 31, 2025 (4QFY2025), net profit grew 13.6% to RM154.3 million from RM135.9 million a year earlier, while revenue rose 2.1% to RM1.20 billion from RM1.17 billion. Scientex declared a single-tier final dividend of six sen per share, bringing its total payout for the year to 12 sen. — Scientex eyes stronger property launches in 2026 despite FY2025 profit dip