KUALA LUMPUR (Aug 5): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Berjaya Food Bhd (KL:BJFOOD) said on Monday its international arm has secured the rights to operate Starbucks stores in Iceland, Denmark and Finland. The expansion by Berjaya Food International, or BFI, marks the first entry of a Malaysian public-listed food-and-beverage company into Nordic markets. BFI will focus on local hiring and sourcing while lending its culinary and operational expertise. — Berjaya Food gets rights to operate Starbucks in three Nordic countries

Sasbadi Holdings Bhd (KL:SASBADI) has secured two contracts from the Ministry of Education to supply reprinted textbooks to schools, worth an estimated RM11.71 million. The group said the first contract, awarded to its wholly owned subsidiary Sasbadi Sdn Bhd, has an estimated contract value of RM6.89 million, while the second contract, awarded to its indirectly owned subsidiary The Malaya Press Sdn Bhd, is worth RM4.82 million. — Sasbadi bags two contracts from Education Ministry to supply reprinted textbooks

Notion VTec Bhd (KL:NOTION) logged an 11-fold increase in net profit for the third quarter ended June 30, 2024 (3QFY2024) to RM20.25 million from RM1.82 million a year earlier, on the back of higher revenue. This is Notion VTec's best quarterly net profit since 4QFY2018, when it reported earnings of RM36.54 million. Quarterly revenue increased 63% to RM135.5 million from RM83.2 million. — Notion VTec logs best quarterly earnings in six years

MISC Bhd (KL:MISC) chief operating officer Zahid Osman will take over as the group’s president and group chief executive officer from Aug 16, replacing Captain Rajalingam Subramaniam, who will step down from his role on Aug 15, after less than two years on the job. MISC said Rajalingam is leaving to pursue other interests. — MISC appoints Zahid Osman as new president and CEO, succeeding Capt Rajalingam

Malayan Banking Bhd (KL:MAYBANK) has appointed two new independent non-executive directors, Chiam Sou Hong and Vittorio Furlan, effective Monday. Meanwhile, existing independent non-executive director Edwin Gerungan will retire from the board on Aug 23 after nine years of service. The changes bring Maybank's total number of directors to 12. — Maybank appoints lawyer, digital transformation expert as new directors

The High Court has allowed RHB Bank Bhd’s (KL:RHBBANK) application for a summary judgement against Ireka Corp Bhd (KL:IREKA) for the bank's RM6.53 million claim over an alleged default in a revolving credit facility. The summary judgement entails a court order for Ireka, as the corporate guarantor for the revolving credit facility granted to its wholly owned subsidiary Ireka Engineering & Construction Sdn Bhd, to pay the revolving credit amounting to RM6.53 million up to Dec 31, 2023. — Ireka ordered to pay RM6.53m plus costs to RHB Bank over subsidiary's payment default

Talam Transform Bhd (KL:TALAMT) said it plans to dispose of a 27.72-acre piece of land in Sepang to a unit of IJM Corp Bhd (KL:IJM) as partial debt repayment. Its wholly owned subsidiary Talam Leisure Development Sdn Bhd has agreed to sell the land to Ever Mark (M) Sdn Bhd, a wholly owned subsidiary of IJM Properties Sdn Bhd. IJM Properties is a wholly owned unit of IJM Corp. The deal involves the setting off of RM66 million of indebtedness, and a RM18 million interest waiver on the debt owed by Talam Transform to IJM Properties. — Talam Transform to dispose of Sepang land to IJM as part of debt settlement

Jati Tinggi Group Bhd (KL:JTGROUP) secured an engineering, procurement, construction, and commissioning (EPCC) sub-contract worth RM33.8 million from Gamuda Bhd’s (KL:GAMUDA) wholly owned subsidiary Gamuda Engineering Sdn Bhd. Jati Tinggi said the sub-contract was awarded to its unit Jati Tinggi Holding Sdn Bhd, to provide horizontal directional drilling work in Gombak, Selangor. — Jati Tinggi bags RM33.8 mil EPCC sub-contract from Gamuda unit

Handal Energy Bhd (KL:HANDAL) said a firm in which its group managing director Sunildeep Singh Dhaliwal is a substantial shareholder is suing the offshore crane services provider over an alleged unpaid payment. The firm, Seaoffshore Shared Sdn Bhd, is claiming from Handal a purported outstanding sum of RM9.58 million as at June 30, 2024, and another sum of RM170,369 that was invoiced in July 2024. Seaoffshore's claim against Handal is for payment for purported management services rendered. — Handal sued by MD-linked firm over alleged unpaid payments