KUALA LUMPUR (Oct 7): Here is a brief recap of some business news and corporate announcements that made headlines on Monday:

HeiTech Padu Bhd (KL:HTPADU) has terminated its agreement to acquire a 30% stake in Souqa Fintech Sdn Bhd, less than two weeks after entering into the share subscription agreement (SSA). HeiTech said its wholly owned subsidiary Synergy Grid Sdn Bhd had issued a notice of rescission “under clause 3.3 of the SSA”, rendering the agreement null and void with immediate effect. It did not provide details regarding clause 3.3 of the SSA. — HeiTech Padu aborts Souqa Fintech deal less than two weeks after agreement

Oil and gas services provider Uzma Bhd (KL:UZMA) said its maiden 50MW LSS4 project located in Sungai Petani, Kedah has reached its commercial operation date on Sept 25. Uzma Kuala Muda Sdn Bhd, the group's indirect wholly owned subsidiary, received the Energy Commission's no-objection letter on Oct 4 followed by an acknowledgement from the Single Buyer on Oct 7. — Uzma secures commercial operation date for 50MW solar farm in Kedah

Dayang Enterprise Holdings Bhd (KL:DAYANG) has secured order awards from Petronas Carigali Sdn Bhd for six accommodation work boats. The contracts come with different charter durations of between 61 and 153 days for each vessel. The contracts involve four Dayang vessels and two vessels under its 64%-owned Perdana Petroleum Bhd (KL:PERDANA), based on the list of vessels provided by Dayang. — Dayang bags accommodation work boat contracts from Petronas Carigali

Hibiscus Petroleum Bhd (KL:HIBISCS) has completed the farm-in arrangement with Petronas Carigali Sdn Bhd to acquire a 30% participation interest in the PM327 production sharing contract. Its indirect wholly owned unit Straits Hibiscus Sdn Bhd has received regulatory approvals from the national oil firm Petroliam Nasional Bhd, through Malaysia Petroleum Management. — Hibiscus completes 30% stake acquisition in largest Peninsular Malaysia offshore block

Sapura Resources Bhd (KL:SAPRES) said its managing director Datuk Shahriman Shamsuddin has been placed on a leave of absence effective Sept 11, pending ongoing investigations, confirming a report in The Edge Malaysia weekly. The property and aviation company informed Bursa Malaysia that its chief corporate officer Mai Eliza Mior Mohamad Zubir has been appointed as the officer-in-charge to temporarily oversee the managing director's responsibilities. However, the company did not disclose the specific reasons for the investigation. — Sapura Resources confirms MD on leave of absence pending investigations

Dialog Group Bhd's (KL:DIALOG) chief operating officer (COO) Mustaffa Kamal Abu Bakar has been promoted to chief executive officer, effective Monday. Mustaffa currently holds 3.11 million shares in Dialog. Meanwhile, Dialog also appointed Keith Collins to take over the COO position from Mustaffa. The 63-year-old British citizen was previously the managing director of upstream oil and gas, and a member of the executive leadership team for Dialog. — Dialog promotes COO Mustaffa Kamal to CEO, names Keith Collins as new COO

Tuju Setia Bhd's (KL:TJSETIA) joint venture (JV) company has secured a RM317.6 million contract to build a new block at Gleneagles Hospital in Jalan Ampang. Tuju Setia–GPQ JV — an unincorporated JV between Tuju Setia's wholly owned unit Pembinaan Tuju Setia Sdn Bhd and GPQ Sdn Bhd, a unit of Terengganu Incorporated Sdn Bhd — was awarded the contract by Ampang 210 Sdn Bhd. The JV will undertake the design and construction of Block C of the hospital, with a project duration of 37 months, slated to begin this month. — Tuju Setia's JV company bags RM318 mil construction job

Ramssol Group Bhd (KL:RAMSSOL), a human capital management provider, has been appointed as the authorised business partner for sales and marketing activities for a Singapore-based company. Rams Solutions Sdn Bhd, the group's wholly owned subsidiary, signed an addendum agreement with Hono Asia Pte Ltd for such appointment. Under the updated arrangement, Rams will promote Hono's AI-driven human resources (HR) solutions, including the HR Generative AI Platform and HR Chat GPT, in Southeast Asian markets such as Malaysia, Singapore, Thailand, Indonesia, Vietnam, and the Philippines. — Ramssol inks addendum agreement with Singapore-based company for AI-driven HR solutions

HE Group Bhd (KL:HEGROUP), which debuted on the ACE Market in January, has proposed a special issue of 45.6 million new shares or 9.39% of its enlarged share capital to meet its Bumiputera equity condition. Currently, slightly over 3% of HE Group’s equity stake, or 15.1 million shares, are held by Bumiputera investors approved by the Ministry of Investment, Trade and Industry. — HE Group proposes special issue of 45.6 mil shares to Bumiputera investors