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

Deleum Bhd (KL:DELEUM) said it is exploring more acquisition opportunities after firming up a 70% stake purchase in an Indonesian valve solutions provider that could triple its addressable control and pressure relief valve market size. The ambition is to go beyond Malaysia and Indonesia, said Deleum group chief executive officer Ramanrao Abdullah, who noted that the natural development would be to look at Thailand and Vietnam for its next acquisition. — Deleum eyes more acquisitions after 70% stake buy in Indonesian O&G valve outfit

T7 Global Bhd (KL:T7GLOBAL) has won a contract from Petrofac (Malaysia-PM304) Ltd for the provision of pan-Malaysia maintenance, construction, modification (MCM) and hook-up and commissioning (HUC) services for Package B3. The contract, won by T7's wholly-owned unit Tanjung Offshore Services Sdn Bhd, is for a primary period of five years. It also has two extension options for three years and two years respectively. — T7 wins pan-Malaysia contract with Package B3 from Petrofac

NationGate Holdings Bhd (KL:NATGATE) has launched its latest artificial intelligence (AI) servers catering for clients from start-ups to hyperscale data centres. The launch sees NationGate emerging as the first in Malaysia to manufacture the servers. The servers will be powered by industry-leading graphics processing units (GPUs). NationGate added that it is an original equipment manufacturer partner to the industry-leading GPUs' manufacturer. — NationGate launches locally manufactured AI servers

Dialog Group Bhd (KL:DIALOG) said that it has won a contract with Petroliam Nasional Bhd (Petronas) to assume 100% participating interest and the role of operator in the RAJA Cluster small field asset production sharing contract (PSC), located offshore Peninsular Malaysia. Dialog said its wholl- owned subsidiary Dialog Resources Sdn Bhd has entered into an agreement with Malaysia Petroleum Management that would include the pre-development study, development and production of discovered resources over the full life of the RAJA Cluster SFA PSC, followed by abandonment upon its expiry. — Dialog wins RAJA Cluster small field production sharing contract from Petronas

Fiamma Holdings Bhd (KL:FIAMMA) is forming a joint venture company to bring heating, ventilation and air conditioning (HVAC) solutions under the VINO brand into Malaysia. Fiamma said the JV company will be named VINO Air-Conditioning (M) Sdn Bhd, with Fiamma holding a 70% equity stake and Hong Kong-based Great Trillion Investment Ltd holding the remaining 30% stake. Great Trillion is a unit of China-based Zhuhai Samyou Environmental Technology Co Ltd. — Fiamma forms JV with Chinese company to bring in VINO air-conditioners

Pavilion Real Estate Investment Trust (KL:PAVREIT) has proposed to buy two hotels in Kuala Lumpur for an aggregate RM480 million and undertake a private placement to raise up to RM552 million to fund the acquisitions. It said its trustee, MTrustee Bhd, has entered into agreements to acquire Banyan Tree KL for RM140 million from Lumayan Indah Sdn Bhd, and buy Pavilion Hotel KL for RM340 million from Harmoni Perkasa Sdn Bhd. The deals are deemed related-party transactions as both Lumayan and Harmoni Perkasa are indirectly wholly-owned by Pavilion REIT major unitholder Tan Sri Lim Siew Choon. — Pavilion REIT proposes to buy chairman’s KL hotels for RM480m

HB Global Ltd (KL:HBGLOB) said it has partnered with a company belonging to the Regent of Pahang  to jointly develop artificial intelligence (AI) technology-driven agriculture activities on 500 acres of land in Pekan, Pahang. The joint venture entity, HB Global Capital Sdn Bhd, will be 55%-owned by HB Global and 45% by HIS Holdings Sdn Bhd, whose sole shareholder is Tengku Hassanal Ibrahim Alam Shah ibni Al-Sultan Abdullah. Tengku Hassanal Ibrahim Alam Shah is also the owner of the 500-acre land. — HB Global forms JV to develop AI-powered farming in Pahang

Destini Bhd (KL:DESTINI) said it is acquiring Australia-based rail component remediation services provider Trovon Group Pty Ltd, in a bid to strengthen its rail maintenance capabilities and expand its global presence. Destini will pay A$100 (RM285) for the acquisition, and assume A$3.25 million of Trovon’s outstanding debt and inject an additional A$1 million for working  capital. Destini said it sees potential expansion opportunities into Singapore, Dubai and China through its existing Techno Fibre group network. — Destini to buy Australia's Trovon Group to expand global rail maintenance reach