Trading ideas: NationGate, Zetrix, Malakoff, YNHP, T7, Luxchem, Tomypak, Master Tec, Scope, PetGas, MBSB, Elridge

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

NationGate Holdings Bhd said on Tuesday that the Malaysian Anti-Corruption Commission had raided the premises of its wholly owned subsidiary, NationGate Solution (M) Sdn Bhd, as part of an ongoing investigation into alleged scrap metal smuggling.

Zetrix AI Bhd, formerly MyEG Services Bhd, said on Tuesday it will challenge Bursa Securities’ public reprimand for breaking Main Market listing rules.

Malakoff Corp Bhd is partnering with Evergreen Earth Sdn Bhd to explore investment opportunities in greenfield solar photovoltaic power plants and other renewable energy initiatives across Sarawak.

YNH Property Bhd on Tuesday terminated a development agreement with Chin Hin Group Property Bhd for an apartment project in Segambut, Kuala Lumpur, and will instead sell the 6.5-acre parcel to Chin Hin via a direct land deal.

T7 Global Bhd has on Tuesday secured a six-month contract extension from Hibiscus Petroleum Bhd for the provision of maintenance, construction and modification services.

Luxchem Corp Bhd is acquiring five leasehold industrial lands in Mukim Kapar, Klang, for RM45.6mn in cash.

Tomypak Holdings Bhd’s wholly-owned subsidiary has exercised a call option to acquire an additional 10% equity interest in EB Packaging Sdn Bhd for RM6.7mn that will raise its shareholding in the latter to 90%.

Master Tec Group Bhd has signed a MoU with Kuching-based Senari Synergy Sdn Bhd to jointly assess the feasibility of establishing a cable manufacturing facility in Sarawak.

Scope Industries Bhd is investing RM20mn in Malacca Securities Sdn Bhd through the subscription of preference shares.

Petronas Gas Bhd has entered into a settlement agreement with BASF Petronas Chemicals Sdn Bhd under which the latter will pay RM52mn to resolve disputes arising from an electricity supply agreement.

MBSB Bhd has rebranded its investment banking arm as MBSB Investment Bank Bhd and the group's investment research unit MBSB Research.

Urusharta Jamaah Sdn Bhd, a special purpose vehicle under Malaysia's Ministry of Finance, has emerged as a substantial shareholder in Elridge Energy Bhd with a 5.3% direct stake.