KUALA LUMPUR (Aug 4): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

MNRB Holdings Bhd (KL:MNRB) is selling its takaful business, Takaful Ikhlas Family and Takaful Ikhlas General, to Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) for RM1.64 billion cash. The deal, currently under an implementation agreement, remains subject to regulatory approval, with final sale agreements to be signed later, within a 12-month period. Aside from approvals from Bank Negara Malaysia, the proposed disposal is also subject to approval from the Minister of Entrepreneur and Cooperatives Development as well as MNRB’s shareholders at an extraordinary general meeting to be convened. — MNRB to sell Takaful Ikhlas to Bank Rakyat for RM1.64b

Hartalega Holdings Bhd’s (KL:HARTA) net profit for the first quarter ended June 30, 2026 (1QFY2027) rose six-fold year-on-year (y-o-y) to RM70.03 million — its highest quarterly earnings in four years — as higher average selling prices boosted margin and offset lower volume. Revenue for the quarter rose 9.5% year-on-year to RM605.75 million. No dividend was declared for the quarter. — Hartalega's 1Q profit rises to highest since 2022 as better selling prices lift margins

Vantris Energy Bhd's (KL:VANTNRG) units have secured RM830 million work orders from Petroliam Nasional Bhd’s (PETRONAS) upstream arm to provide transportation, installation and tender-assisted drilling rig services in Malaysia. Engineering unit VTEB Offshore Sdn Bhd secured a work order for offshore transportation and installation works, with completion expected by the third quarter of the financial year ending Jan 31, 2028 (3QFY2028). Drilling unit VTEB Drilling Asia Sdn Bhd received a notice of assignment for the Sapura Esperanza rig, expected to commence in 3QFY2027. VTEB Drilling Asia also secured a new contract to provide tender-assisted drilling rig services using the Sapura Jaya rig, scheduled to begin in 3QFY2027. — Vantris Energy secures RM830 mil contracts from PETRONAS units

Capital A Bhd's (KL:CAPITALA) non-aviation businesses posted mixed operating performance in the second quarter. Aviation engineering arm Asia Digital Engineering saw workshop component maintenance orders rise 23% y-o-y, while base maintenance checks fell 32%. Logistics unit Teleport saw cargo volume increase 11% y-o-y and parcel deliveries surge 79%, on strong e-commerce demand across the Asia-Pacific region. Online travel platform AirAsia MOVE reported a 22% y-o-y rise in monthly active users to 16.3 million. Food and beverage unit Santan recorded an 855% y-o-y jump in business-to-consumer e-commerce transactions to 23,409, however, inflight transactions declined 17% to 1.76 million due to airline capacity adjustments and lower passenger volumes. — Capital A’s non-aviation units post mixed 2Q results, logistics and digital travel drive growth

K-One Technology Bhd (KL:K1) is disposing of its cloud business arm G-AsiaPacific Sdn Bhd to Tokyo-listed ITOCHU Corp and its Singapore unit ITOCHU Singapore Pte Ltd for RM94 million. The proposed disposal is expected to result in a pro forma gain of RM47.6 million, K-One said. Of the RM94 million proceeds, the group intends to distribute RM75 million as a special dividend to shareholders within one month after completion of the disposal. — K-One to sell cloud arm to Japan’s ITOCHU for RM94 mil, plans special dividend

SNS Network Technology Bhd (KL:SNS) said it expects to recognise revenue from its US$298.66 million (RM1.22 billion) contract for the supply of high-performance artificial intelligence (AI) servers to a Singapore-based customer in its current fiscal year. Delivery of all the products under the deal is expected to be ready five months after the customer’s advance payment and SNS Network’s subsequent placement order with the manufacturer of the servers. However, the company noted this remains subject to the manufacturer’s production, allocation, logistics, and final delivery schedules, and does not constitute a guaranteed delivery commitment. — SNS Network expects to recognise RM1.22 bil AI server contract revenue in FY2027

GFM Services Bhd (KL:GFM) has secured an additional RM83.1 million for major turnaround works at the Pengerang Integrated Complex (PIC) in Johor.The new awards comprise a RM16.3 million contract between GFM's wholly owned subsidiary Highbase Strategic Sdn Bhd, and PETRONAS Chemicals Isononanoic Sdn Bhd, as well as a RM66.8 million contract between its 60%-owned unit Shapadu CR Asia Sdn Bhd, and Pengerang Refining Company Sdn Bhd. Work is expected to begin in 2027 and contribute positively to GFM’s earnings for FY2027. — GFM bags RM83.1m job for Pengerang Integrated Complex’s first major turnaround

Formosa Prosonic Industries Bhd (KL:FPI) swung to a net profit of RM13.92 million for the second quarter ended June 30, 2026 (2QFY2026), compared to a net loss of RM819,000 a year earlier, on higher sales and forex gains. Revenue surged 66.7% y-o-y to RM182.95 million, helped by higher sales volume. No dividend was declared for the quarter. — Formosa Prosonic swings to black as 2Q revenue jumps 67%

Vestland Bhd (KL:VLB) has proposed to raise up to RM60.44 million via a private placement of up to 10% of its enlarged share base to fund working capital for the construction firm's current as well as future projects. Its existing projects consist of four projects with an aggregate contract value of RM802 million. It noted it is currently tendering for a total of 15 contracts with a total value of over RM3.4 billion, with results expected to be known in the next three to 12 months. — Vestland plans RM60.4m private placement to fund construction projects