Corporate Malaysia Recap: PTT Synergy Allocates RM2.3bn, Azam Jaya Wins RM120.9mn Contract, and More.

PTT Synergy Group has allocated RM2.3bn for its automated warehouse business, while Azam Jaya Bhd secured a RM120.9mn contract for airport upgrading works in Sabah. Harvest Miracle Capital is diversifying into construction materials trading. AmFIRST REIT appointed Mana Mana Holdings as project manager for Summit Hotel Subang USJ refurbishment. Citaglobal Bhd's stake increased to 13.3% after the Sultan of Pahang acquired 15mn shares. Pharmaniaga completed its regularisation plan, and Saliran Group inked a MoU with Maoming Port Group and PCA Group for oil and gas sector cooperation. Pentamaster Corp's net profit declined 41.7% YoY to RM11.6mn, while Magma Group's former executive chairman Datuk Seri Ismail @ Farouk Abdullah ceased to be a substantial shareholder after trimming his stake to 4.9%.

PTT Synergy Group Bhd has allocated RM2.3 billion in capital expenditure (capex) over the next two years to develop four new automated warehouses [1]. The company, which also operates in construction and real estate, aims to increase its automated warehouse capacity from 600,000 pallets to two million within the next three to five years. This strategic diversification is aimed at making the business more resilient and sustainable in the long run.

Meanwhile, Azam Jaya Bhd has secured a RM120.9 million contract from the Transport Ministry to upgrade Tawau Airport in Sabah [2]. The three-year project, which begins on August 22, 2025, and is expected to be completed by August 17, 2028, will enhance regional connectivity and accommodate increasing international travel demand to Sabah's east coast.

Harvest Miracle Capital Bhd, on the other hand, is diversifying into construction materials trading [3]. The company, which has been experiencing a decline in revenue from its core IT and ICT division, aims to make the new segment contribute more than 25% of its net profits or cause a diversion of more than 25% of its net assets. The building materials division, which began operations in the fourth quarter of 2025, contributed 7.1% of the company's revenue for the full year 2025.

The proposed diversification is expected to be completed in the third quarter of 2025. Shares in Harvest Miracle closed unchanged at 16 sen, valuing the company at RM277.91 million.

References:
[1] https://www.thestar.com.my/business/business-news/2025/08/06/ptt-synergy-to-invest-rm23bil-in-smart-warehouses-over-next-two-years
[2] https://www.thestar.com.my/business/business-news/2025/08/06/azam-jaya-wins-rm1209mil-tawau-airport-upgrade-job
[3] https://theedgemalaysia.com/node/765570