Trading ideas: Sunway, IJM, Binastra, Capital A, Elridge, Oxford Innotech, Steel Hawk, Carimin, SMRT, Reneuco, Suria, KIP REIT, Pantech

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

Sunway Bhd is proceeding with its takeover offer for IJM Corporation Bhd despite an ongoing probe by the Malaysian Anti-Corruption Commission involving the target group.

IJM Corporation Bhd said the freezing of several of its bank accounts by the Malaysian Anti-Corruption Commission has no impact on the group’s day-to-day business operations and reiterated that the allegations were unfounded.

Binastra Corporation Bhd has secured a RM742.9mn contract for the main building works of a high-rise development in Johor Bahru.

Capital A Bhd has today received the High Court's approval on capital reduction of RM5.5bn, marking the completion of all major steps required under its regularisation plan.

Elridge Energy Holdings Bhd has entered into a MoU with Berkana Power Company Limited, a Thailand-based energy company, for the supply of biomass fuel to the Thailand power generation market.

Oxford Innotech Berhad won orders worth RM4.8mn to supply precision steel components for data centre airflow management solutions from the Singapore office of an Australia-based data centre and computer room infrastructure specialist. 

Steel Hawk Bhd's wholly-owned subsidiary Steel Hawk Engineering Sdn Bhd has secured a subcontract from Eternity Mode Sdn Bhd for the procurement, construction and commissioning of fire rated doors in Sabah.

Carimin Petroleum Bhd has acquired a 19.5% stake in Sealink International Bhd at above market price for RM40mn, making it the largest shareholder in the group.

SMRT Holdings Bhd clarified its one-off deployment revenue may face a potential slowdown amid rising competition, while existing long-term managed services contracts with Tenaga Nasional Bhd remain unaffected and continue to be the group’s largest revenue contributor.

Reneuco Bhd said Tenaga Nasional Bhd has terminated the power purchase agreement between the two companies, with the Practice Note 17 company liable to pay a delay penalty of RM45.0mn to TNB.

Suria Capital Holdings Bhd has appointed former Kota Belud Member of Parliament Datuk Seri Abdul Rahman Dahlan as its new independent and non-executive chairman.

KIP Real Estate Investment Trust’s 2QFY26 net property income rise 49.9% YoY to RM32.4, mainly driven by the performance of the DPulze Shopping Centre and KIPMall Desa Coalfields.

Pantech Global Bhd’s 3QFY25 net profit remained stable at RM12.5mn, primarily due to an increase in operating expenses, which was partially offset by lower finance costs and tax expenses.