Trading ideas: Velesto, Maxis, Infomina, Awantec, Willowglen, Silver Ridge, Perdana, Hume cement, Shin Yang, D&O, Powerwell, Kee Ming, Kim Loong, Crescendo

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Velesto Energy Bhd has entered into a share sale agreement to dispose of its entire stake in Velesto Workover Sdn Bhd to Enviros Survey & Consultancy Sdn Bhd for RM16.5mn.

Maxis Bhd has fully restored services for customers affected by a fire incident at its telecommunications tower site in Kampung Kelebor, Kuala Kangsar, which occurred on 27 Dec.

Infomina Bhd has secured a 3-year contract worth USD33.8mn (RM137.1mn) to provide software support services to Siam Commercial Bank Public Company Ltd in Thailand.

Awanbiru Technology Bhd has secured two letters of award worth a combined RM16.4mn from the Ministry of Higher Education for the provision of Google AI tools, including Notebook LM Enterprise and Gemini for Google Workspace, to public universities.

Willowglen MSC Bhd has won a 10-year RM8.6mn contract from SP Power Assets Limited in Singapore for the supply and installation of remote terminal units at transmission substations.

Silver Ridge Holdings Bhd has secured two subcontracts with a combined value of RM10.9mn.

Perdana Petroleum Bhd has secured two work orders from Petronas Carigali Sdn Bhd for the charter of two anchor handling tug supply vessels.

Hume Cement Industries Bhd has appointed William Tan Kok Siang as its group managing director, effective 1 January 2026.

Shin Yang Group Bhd has promoted its chief operating officer, Richard Ling Peng Ling, to chief executive officer, effective Jan 1, 2026.

Lembaga Tabung Haji has emerged as a substantial shareholder in D&O Green Technologies Bhd after acquiring 2.0mn shares, equivalent to a 0.16% stake, which raised the pilgrimage fund’s total shareholding in the company to 5.034%.

Powerwell Holdings Bhd is acquiring a 49% stake in Kuching-based switchboard manufacturer and distributor Tenaga Kenari Sdn Bhd and Tenaga Kenari Marketing Sdn Bhd for RM16.7mn in cash.

Kee Ming Group Bhd, a mechanical and electrical engineering firm backed by Solarvest Holdings Bhd, said it has secured approval for its ACE Market listing.

Kim Loong Resources Bhd’s net profit dropped 12.2% YoY to RM43.9mn in 3QFY26, from RM50.0mn a year ago, due to higher repair and maintenance costs.

Crescendo Corporation Bhd recorded a 30.6% YoY decline in net profit to RM70.3mn in 3QFY26, mainly due to the absence of one-off gains from data-centre-linked land sales at Nusa Cemerlang Industrial Park that had boosted earnings in the prior year.