KUALA LUMPUR (Dec 20): Here is a brief recap of some corporate announcements that made news on Wednesday:

Infrastructure utilities engineering services provider Jati Tinggi Group Bhd debuted at 30.5 sen on the Bursa Malaysia ACE market on Wednesday, a 12.96% or 3.5 sen premium to its issue price of 27 sen. Jati Tinggi is involved in the provision of underground and overhead utility engineering services and solutions, engineering, procurement, construction and commissioning of electricity substations (EPCC) as well as trading of substation equipment and street lighting. The group’s major customers are mainly the main contractors appointed by Tenaga Nasional Bhd, which are involved in electricity supply projects. Jati Tinggi gains nearly 15% in ACE Market debut

Mlabs Systems Bhd, which provides video conferencing and mobile application solutions, has inked a master sales agreement with LG Electronics (M) Sdn Bhd to distribute the latter's products in Malaysia. The new agreement, which supersedes and replaces the MOU, outlines the obligations and responsibilities of the signing parties in the distribution of LG products here. The company recently reported a higher net loss of RM3.52 million for its first quarter ended Sept 30, 2023 compared with RM2.41 million in the previous year's corresponding quarter, despite revenue rising to RM5.28 million from RM4.51 million, which it blamed on higher asset depreciation and a fair value loss on quoted shares. The group has largely been loss making since its ACE Market debut in 2005. Mlabs Systems inks agreement to distribute LG Electronics products in Malaysia

LKL International Bhd through its wholly-owned subsidiary LKL Advance Metaltech Sdn Bhd (LKLAM), is selling a piece of freehold land in Seri Kembangan, Selangor, to 8 Food Avenue Sdn Bhd (Avenue) for RM6.9 million. The medical and healthcare bed manufacturer announced that LKLAM entered into a sale and purchase agreement (SPA) with Avenue on Wednesday for the proposed disposal. The group said that the net proceeds after deducting all fees and expenses related to the proposed disposal will be used for financing working capital and/or investments, and utilised within 12 months from the completion of the transaction. LKL International to sell freehold land in Seri Kembangan for RM7 mil

Teck Guan Perdana Berhad's net profit for the third quarter ended Oct 31, 2023 (3QFY2024) slumped by 84% to RM3.64 million from RM22.54 million a year ago, primarily due to a decrease in operating margin. Quarterly revenue decreased by 33% to RM91.25 million from RM136.24 million in the corresponding quarter of the previous year, mainly attributed to a decrease in selling prices. The group did not declare any dividend for the quarter under review. Teck Guan's 3Q net profit drops 84% amid lower operating margin

Top Glove Corp Bhd's net loss for the first quarter ended Nov 30, 2023 (1QFY2024) narrowed to RM57.71 million from a net loss of RM157.62 million a year earlier (1QFY2023) on the back of improved operational, quality and cost optimisation efforts. The world’s largest glove maker said revenue for the quarter dipped to RM493.56 million from RM632.53 million. On a quarter-on-quarter basis, the company said it also saw an improvement in its 1QFY2024 net loss of RM47 million, representing a 90% reduction from its 4QFY2023 net loss, which included a one-off impairment of RM392 million. Top Glove did not declare any dividend. Top Glove’s 1Q net loss narrows to RM57.71 mil on higher orders, cost control

VS Industry Bhd’s net profit fell 19.31% to RM48.98 million for the first quarter ended Oct 31, 2023 (1QFY2024) from RM60.71 million in the previous year’s corresponding quarter due to lower orders from key customers in Malaysia, China and Indonesia, which affected the group’s overall utilisation rate of production capacity. Revenue for the quarter declined by 10.91% to RM1.15 billion from RM1.29 billion, a filing by the electronics manufacturing services (EMS) provider showed on Wednesday. Despite the lower quarterly earnings, VS Industry declared a first interim dividend of 0.3 sen per share, payable on March 8, 2024. Lower orders from key customers weigh on VS Industry’s 1QFY2024 earnings