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

Pay-TV operator Astro Malaysia Holdings Bhd (KL:ASTRO) has confirmed it will not be the primary broadcaster for the upcoming Fifa World Cup, officially ending a two-decade uninterrupted run as the tournament's home in Malaysia. Astro said its "fair and competitive bid" for the broadcasting rights was not accepted by Fifa. It is now in talks with the new rights holders to explore carrying matches on its platforms — Astro, NJOI and Sooka. Astro loses Fifa World Cup broadcast rights after 20 years, citing rising costs and rampant piracy

PETRONAS Gas Bhd (KL:PETGAS) has entered into a deal to secure access to jetty facilities for handling liquefied natural gas  cargoes, a move deemed crucial for the development of the group's third regasification terminal (RGT-3) in Lumut, Perak. The agreement with Lumut Maritime Terminal Sdn Bhd covers long-term jetty utilisation and sets out terms that are in line with standard market practice. PETRONAS Gas and Lumut Maritime Terminal are deemed related parties due to indirect shareholdings under the Ministry of Finance Incorporated. PETRONAS Gas inks jetty usage deal for third regasification terminal in Lumut

Padini Holdings Bhd (KL:PADINI) clarified that none of its employees, officers or management was detained by the Malaysian Anti-Corruption Commission (MACC). The clarification was made in response to media reports on Wednesday about eight individuals being detained by the MACC. The investigation, linked to money laundering, involves 21 of its accounts related to external parties, and not its employees or management. Padini says none of its personnel detained by MACC 

Semiconductor support services firm Frontken Corporation Bhd (KL:FRONTKN) saw its net profit rise more than 36% in the first quarter, driven by improved performance across core businesses and effective cost management. Net profit for the first quarter ended March 31, 2026 (1QFY2026) came in at RM42.4 million, compared with RM31.1 million a year earlier. Revenue rose 43% year-on-year to RM189.8 million from RM132.6 million, supported by stronger contributions from both its Malaysia and Taiwan operations. No dividend was declared for the quarter under review. Frontken 1Q net profit jumps over 36% on stronger Malaysia, Taiwan contributions

Hong Leong Industries Bhd (KL:HLIND) posted a 39.9% jump in net profit for its third quarter, driven by an improved motorcycle sales mix and lower raw material costs amid favourable foreign exchange movements. Net profit for the third quarter ended March 31, 2026 (3QFY2026) rose to RM138.37 million from RM98.88 million a year earlier while revenue edged down 1.5% to RM879.62 million from RM893.24 million, mainly due to slightly lower sales volume. It declared a third interim dividend of 20 sen per share, payable on June 10. Hong Leong Industries’ 3Q profit jumps 40% on better sales mix, lower costs; declares 20 sen dividend

Marine and industrial engineering products distributor Pansar Bhd (KL:PANSAR) said its wholly-owned unit Perbena Emas Sdn Bhd has bagged a RM234.89 million contract from Sarawak Rural Water Supply Department (JBALB) for a water treatment plant project in Saratok, Betong. The job is scheduled to begin in June this year to be completed in 30 months. Pansar bags water treatment plant job in Sarawak worth RM235 mil

A fund backed by EWI Capital Bhd (KL:EWICAP) has completed its first major property acquisition in Melbourne, Australia, for A$381 million (RM1.09 billion). TrustCapital Australian Office Fund No 3 acquired the commercial asset at 750 Collins Street, Melbourne, on Wednesday. The deal follows EWI Capital’s announcement in October last year that its wholly-owned unit, EWI Investment Holdings Ltd, would anchor the fund with a committed capital of A$100 million. EWI Capital-backed fund completes A$381m purchase of Melbourne office asset

Mudajaya Group Bhd (KL:MUDAJYA) said its lawsuit over properties promised as payment for construction work on a Kuala Lumpur mixed-development project will return to the High Court for a full trial. The group had secured RM152.36 million worth of properties via a specific performance order last October. However, the Court of Appeal has remitted the case back for trial, awarding RM20,000 in costs to Crest Worldwide Resources Sdn Bhd. Further, Crest Worldwide will be refunded the RM100,000 costs it was ordered to pay Mudajaya at the High Court. Crest Worldwide had appointed Mudajaya in 2007 to build The Crest Towers in Jalan Sultan Ismail. Full trial ordered for Mudajaya’s 'properties as payment for construction work' case

ASM Automation Group Bhd (KL:ASM), which debuted on the ACE Market about 10 months ago, has seen the emergence of Chong Ming Hang as its new substantial shareholder with a 19% stake. Chong, via his private vehicle Aarcadia Technologies Sdn Bhd, purchased 101.6 million shares in a direct business transaction on May 4. The acquisition makes him the second-largest shareholder in the automation solutions provider, behind managing director Chan Kok Heng, whom, as of May 5, held a 34.71% stake. ASM Automation sees Chong Ming Hang emerge as second-largest shareholder

Information technology (IT) company Cloudpoint Technology Bhd (KL:CLOUDPT) is planning to acquire another IT firm for RM16.8 million as part of its plan to expand product offerings. The company signed an agreement on Wednesday to buy 100% equity interest in CX One Sdn Bhd. The vendors are Goh Poh Gan, Kursinah Samat, Chee May Poh and Ng Siao Wei. Cloudpoint to acquire CX One for RM16.8 mil to expand IT offerings