KUALA LUMPUR (Aug 7): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Pentamaster Corp Bhd’s (KL:PENTA) net profit for the second quarter ended June 30, 2025 (2QFY2025) declined 41.7% year-on-year to RM11.61 million from RM19.9 million previously, dragged down by lower contribution from its factory automation segment and unfavourable foreign exchange losses. Quarterly revenue fell 15.5% to RM144.88 million from RM171.37 million in 2QFY2024 as the factory automation solutions segment’s revenue dropped 42.4% due to normalisation in the medical segment following strong expansion in the previous year. Pentamaster did not declare any dividend for the quarter. — Pentamaster’s 2Q profit down 41% on lower contribution from factory automation biz, forex losses

Azam Jaya Bhd (KL:AZAMJAYA) has secured a three-year contract from the Ministry of Transport for upgrading works for Sabah’s Tawau Airport. The RM120.9 million contract was awarded to Azam Jaya’s wholly owned unit Pembinaan Azam Jaya Sdn Bhd. The project will be undertaken on a design-and-build basis. — Azam Jaya bags RM120.9m job to upgrade Sabah’s Tawau Airport

Pharmaniaga Bhd (KL:PHARMA) has completed its regularisation plan, with the completion of RM520 million capital reduction that trimmed the pharmaceutical group’s issued share capital to RM249.62 million, as well as wipe out its accumulated losses. The completion of the regularisation plan paves the way for Pharmaniaga to exit its Practice Note 17 status, which the group has aimed for by the first quarter of 2026. — Pharmaniaga completes capital reduction, concluding regularisation plan

Exsim Hospitality Bhd (KL:EXSIMHB) has agreed with AmFIRST Real Estate Investment Trust (REIT) (KL:AMFIRST) to manage a planned RM45 million refurbishment and rebranding of The Summit Hotel Subang USJ, and to lease the hotel for three years after the revamp. Exsim Hospitality’s unit, Mana Mana Holdings Sdn Bhd, will manage the 15-month refurbishment for a fixed fee of RM220,000. After the refurbishment, Mana Mana will operate the hotel under a tenancy agreement with a base monthly rent of RM600,000 plus revenue sharing above a certain level. — Exsim Hospitality to manage RM45m Summit Hotel revamp, lease it for at least three years

Citaglobal Bhd (KL:CITAGLB) saw the Sultan of Pahang, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, increasing his stake in the diversified group to 13.25% via an off-market acquisition of 3.52% or 15 million shares. The purchase coincided with the disposal by Tiza Global Sdn Bhd, a private vehicle controlled by Citaglobal's executive chairman and president Tan Sri Mohamad Norza Zakaria, of five million Citaglobal shares in an off-market transaction. — Sultan of Pahang raises stake in Citaglobal to 13.25% via off-market acquisition

Magma Group Bhd's (KL:MAGMA) former executive chairman Datuk Seri Ismail @ Farouk Abdullah has ceased to be a substantial shareholder in the hotel management and property development company, following a 0.24% stake trim. The share sale pared his stake in the company to 4.86%. — Former chairman Farouk Abdullah ceases to be Magma's substantial shareholder

PTT Synergy Bhd (KL:PTT) has forayed into the smart warehouse business with the launch of PTT Logistics Hub 1, a key move under its strategy to diversify earnings and reduce dependence on the construction sector. The group is eyeing achieving an even one-third earnings contribution from its three key business segments — construction, real estate, and robotics — between the financial year ending June 30, 2029 (FY2029), and FY2030. PTT Logistics Hub 1 was developed under a sale-and-leaseback structure. The property was sold to CapitaLand Malaysia Trust (KL:CLMT) for RM180 million and leased back to the group’s subsidiary, Projek Tetap Teguh Sdn Bhd, under a 10-year lease. — PTT Synergy forays into smart warehouse business, eyes equal contribution from three businesses

Harvest Miracle Capital Bhd (KL:HM) is formally diversifying into construction materials trading after successfully dipping its toes into the segment. The move comes as the IT and ICT-related product trader's revenue has been on the decline, and the company has ventured into various businesses to offset its core business’s decline in topline. The company commenced building material trading operations in January this year and now envisions the division to contribute more than 25% of its net profits or cause a diversion of more than 25% of its net assets going forward. — Harvest Miracle to formally diversify into construction materials trading

Saliran Group Bhd (KL:SALIRAN) inked a memorandum of understanding (MOU) with China-based Maoming Port Group Co Ltd and Malaysia’s PCA Group Sdn Bhd to establish a framework for cooperation in the oil and gas (O&G) sector. The MOU, valid for one year, aims to explore, develop, and promote initiatives that will enhance the group’s technical capabilities, broaden its supply-chain integration, and expand its reach into international markets. — ACE Market-listed Saliran to explore O&G collaboration with partners in China, Malaysia