KUALA LUMPUR (April 2): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

DNeX's UK upstream oil and gas arm, Ping Petroleum UK plc (Ping UK), has expanded its portfolio with three additional North Sea oilfield licences, with two obtained under the UK's 33rd licensing round, while another licence was acquired through the acquisition of equity from Orcadian Energy (CNS) Ltd. These new acquisitions bring Ping UK's portfolio in the UK Continental Shelf to over 100 million barrels of oil equivalent (MMboe) in the central North Sea. The three fields are expected to commence production shortly after the projected end of the energy profits levy in March 2028. — DNeX’s Ping UK secures three more North Sea oilfield licences

Integrated facilities management company GFM Services Bhd has secured contracts to provide operations and maintenance services for three facilities in the Pengerang Integrated Complex in Johor. The contracts were awarded by Petroliam Nasional Bhd (Petronas) for an undisclosed amount. GFM's subsidiary, Highbase Strategic Sdn Bhd, along with joint venture partner Mun Siong Engineering Ltd, received three letters of appointment covering a three-year period starting from March 15, 2024, with an option for a two-year extension. The services will include plant turnaround services for facilities operated by PRPC Utilities and Facilities Sdn Bhd, Pengerang Power Sdn Bhd and PRPC Water Sdn Bhd. — GFM secures contracts to maintain facilities at Pengerang Integrated Complex

Construction firm Nestcon Bhd aims to diversify its business operations into renewable energy (RE) to enhance future earnings and broaden its income sources. The diversification plans include various activities such as engineering, procurement, construction and commissioning of solar photovoltaic systems, project management of RE activities, and ownership and operation of solar PV assets. The company anticipates that the RE business could contribute significantly to its net profits and asset allocation in the future, driven by the growing demand for renewable energy in Malaysia and ongoing efforts to secure additional projects. — Nestcon plans diversification into renewable energy to expand revenue stream  

Dolphin International Bhd has scrapped its planned rights issue, opting to explore alternative funding methods. Initially proposed in October last year, the rights issue aimed to issue up to 178.38 million shares and up to 133.79 free detachable warrants at 7.5 sen per rights share, with the intention of raising up to RM13.38 million. The allocated funds were intended for working capital, repayment of bank borrowings and expenses related to the corporate exercise. — Dolphin International aborts planned rights issue

TAS Offshore Bhd has secured shipbuilding contracts worth RM15.3 million for two tugboats from an existing customer in Indonesia. The vessels are slated for delivery in the third quarter of 2025. TAS said revenue generated from these contracts will have a positive impact on the group's earnings and net assets for FY2026. — TAS Offshore secures shipbuilding contracts worth RM15.3 million

Private hospital operator KPJ Healthcare Bhd has appointed former chief secretary to the government Tan Sri Ismail Bakar as its new non-independent and non-executive chairman, effective immediately. Ismail replaces Datuk Md Arif Mahmood, who stepped down from his position after completing his two-year tenure on March 31. — KPJ Healthcare appoints former chief secretary to govt as new chairman

Chemical manufacturer Sersol Bhd plans to raise up to RM8.5 million through a private placement of 85 million new shares, representing not more than 10% of its issued shares, for working capital purposes. The issue price will be determined later. The majority of the proceeds will be used to increase holdings of raw materials such as resin, solvent, and hardener for existing product offerings. Additionally, funds will be allocated for potential acquisitions or investments aligned with its current businesses. Sersol is exploring expanding its product range to include marine protective coatings for water vehicles and offering third-party brand coatings and related products. — Sersol seeks to raise RM8.5m via private placement for working capital