KUALA LUMPUR (March 6): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Gamuda Bhd’s (KL:GAMUDA) net profit for the second quarter ended Jan 31, 2026 (2QFY2026) rose 5% year-on-year to RM229.52 million, as a pick-up in domestic projects offset slower foreign billings. Revenue for the quarter climbed 10% year-on-year (y-o-y) to RM4.3 billion. No dividend was announced for the quarter under review. For the first half of FY2026, net profit rose 4.8% y-o-y to RM444.65 million, while revenue edged up 1.3% to RM8.14 billion. — Gamuda 2Q net profit up 5%, expects local projects to continue driving earnings

Mr DIY Group (M) Bhd (KL:MRDIY) plans to establish a sukuk wakalah programme of up to RM5 billion to support working capital requirements and refinance existing borrowings. The programme will allow the issuance of Islamic medium-term notes (IMTN) and Islamic commercial papers (ICP), with a sub-limit of RM1 billion. The IMTN programme will have a perpetual tenure, with each issuance carrying a minimum maturity of one year, while the ICP programme will run for seven years from the first issuance date, with maturities ranging from one month to 12 months. — Mr DIY plans RM5 bil sukuk programme for working capital, refinancing

CelcomDigi Bhd (KL:CDB) and Maxis Bhd (KL:MAXIS) have each paid RM327.87 million to acquire their respective shares of ordinary shares owned by Minister of Finance Incorporated (MOF Inc) in Digital Nasional Bhd, as well as to settle the outstanding MOF Inc loan in the company. — CelcomDigi, Maxis each pay RM327.8m to acquire DNB shares from MOF Inc

AirAsia X Bhd (KL:AAX) has elevated Tan Sri Jamaludin Ibrahim, former long-time CEO of Axiata Group Bhd (KL:AXIATA), to a non-executive chairman, a little over a week after being given a seat on the aviation group’s board. He succeeds Datuk Fam Lee Ee, 65, who occupied the seat since December 2023, and has now been redesignated as a non-independent and non-executive director. — Ex-Axiata chief Jamaludin made AirAsia X chairman

Gas Malaysia Bhd (KL:GASMSIA) has named Azli Mohamed, a former executive at infrastructure-to-healthcare conglomerate Siemens, as its president. Azli, 50, will join as CEO-elect on March 9 as part of a structured and orderly transition, replacing Ahmad Hashimi Abdul Manap, a long-time employee who has led the natural gas company for more than a decade. — Gas Malaysia names ex-Siemens executive Azli Mohamed as president

Leong Hup International Bhd (KL:LHI) subsidiary, Leong Hup Feedmill Malaysia Sdn Bhd (LFM), has secured leave from the High Court to commence a judicial review of the Competition Appeal Tribunal's (CAT) decision to dismiss its appeal against a Malaysia Competition Commission’s (MyCC) fine imposed for price-fixing. The court also granted LFM an ad interim stay order (after hearing one party) in relation to CAT’s and MyCC’s decisions, until the determination of the subsidiary's application for an interim stay (after hearing both parties) on the matter. — Leong Hup secures leave to commence judicial review of price-fixing fine appeal rejection

Media Prima Bhd (KL:MEDIA) saw Datuk Seri Johari Abdul Ghani and his son Amir Nashrin Johari emerge as the group’s largest shareholder bloc, collectively holding 32.96% of the company — just a fraction below the 33% threshold that would trigger a mandatory general offer. This follows Amir Nashrin's acquisition of 88.33 million shares, representing a 7.96% stake in Media Prima, last Friday. Johari, meanwhile, owns 25% of Media Prima through his investment vehicle JAG Capital Holdings Sdn Bhd. — Johari Ghani and son now control 32.96% of Media Prima, skirting MGO threshold

ITMAX System Bhd (KL:ITMAX) saw the Employees Provident Fund (EPF) emerge as its substantial shareholder, after the purchase of an additional 0.097% stake bumped the pension fund’s total stake past the 5% disclosure threshold to 5.005%. — EPF emerges as substantial shareholder in ITMAX

Timberwell Bhd (KL:TIMWELL) saw Tourism, Arts and Culture Minister Tiong King Sing dispose of his entire stake in the company after accepting a takeover offer from the company’s largest shareholder, Wong Wai Foo. Tiong sold 14.2 million shares, representing nearly 16% of the company, at the offer price of 90 sen each, valuing the block at about RM12.8 million. — Tourism Minister Tiong King Sing exits Timberwell after accepting takeover offer

Ekovest Bhd (KL:EKOVEST) has signed a 54-year concession agreement with the government for the Laluan Istana-Kiara Expressway (Like) section of Phase 2A of the Duta-Ulu Kelang Expressway (Duke), granting the group rights to design, build, operate and maintain the highway. The Like section carries an estimated construction cost of RM2.32 billion. — Government grants Ekovest a 54-year concession for Laluan Istana–Kiara link to Duke highway

Leform Bhd (KL:LEFORM) said Japan’s Nippon Steel has agreed to invest RM25 million for a 10% stake in the company via a private placement exercise. Proceeds from the private placement of new shares have been earmarked for the purchase of raw materials, improve delivery efficiency and procure steel materials ahead of anticipated price increases to enhance gross profit margins. — Nippon Steel’s trading arm to invest RM25 mil for 10% in Leform

AME Elite Consortium Bhd (KL:AME) is acquiring two parcels of freehold land measuring a total 31.82 acres in Senai, Johor, for RM101.18 million cash from Nice Frontier Sdn Bhd (NFSB), an indirect 99.9%-owned unit of IOI Properties Group Bhd (KL:IOIPG). AME said the proposed acquisitions represent a strategic opportunity to expand the group’s land bank, adding that it plans to develop the parcels into an industrial cluster. — AME Elite buys two Senai plots from IOI Properties unit for RM101.18 mil

Wawasan Dengkil Holdings Bhd (KL:DENGKIL) has secured a RM116.39 million subcontract to undertake earthworks and related works at the UMW High Value Manufacturing Park in Bandar Serendah, Selangor. The subcontract from Landasan Angsana Sdn Bhd covers the execution and completion of earthworks and associated works for Phases 1(B), 2 and 3 at part of Precinct 5C in the park’s northern zone, involving a combined area of about 81.95 acres. — Wawasan Dengkil secures RM116.4m earthworks subcontract for UMW industrial park in Serendah

QL Resources Bhd (KL:QL) is buying the remaining 5% equity interest in Indonesian plantation firm PT Pipit Mutiara Indah (PMI) as well as a 21.58% stake in joint venture QL Mutiara (S) Pte Ltd, as part of a settlement with Hang Ting Pte Ltd and PT Pipit Citra Perkasa to resolve a dispute dating back five years. The total settlement acquisition is valued at US$14.65 million (about RM57.8 million). — QL Resources to buy out partners in Indonesian plantation, ending five-year dispute

Bina Puri Holdings Bhd (KL:BPURI) has secured a RM42.5 million contract to undertake construction works for a project in the Limbang district of Sarawak. The contract covers carrying out, undertaking, executing and completing the entire scope of works for the project, excluding the design element. However, the company did not disclose the nature or tenure of the project. — Bina Puri lands RM42.5 mil construction contract in Sarawak