KUALA LUMPUR (Dec 9): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Malaysian wireless carrier Axiata Group Bhd (KL:AXIATA) and Indonesian conglomerate PT Sinar Mas Group are nearing an agreement to merge their telecommunications operations in Southeast Asia’s largest economy, people familiar with the matter said. The owners of PT XL Axiata and PT Smartfren Telecom are finalising details of a transaction that could be announced as soon as this week, the people said, asking not to be identified because the matter is private. The companies have been discussing the structure of a deal that may involve a mix of cash and shares, and that would create an entity with about 100 million customers, Bloomberg News reported in April. — Axiata, Sinar Mas said to near deal for Indonesian units — Bloomberg

Datasonic Group Bhd (KL:DSONIC), whose share price rose to its highest in more than a month, confirmed that it is in negotiations with the Home Ministry regarding a Malaysian passport contract. The integrated information and communications technology solution provider responded to Bursa Malaysia Securities Bhd’s query after The Edge Malaysia weekly reported on Dec 9, quoting sources privy to the development, that the company had finally secured a new contract for Malaysian passports. Datasonic is also believed to have secured a new five-year contract to supply materials for three million Malaysian passports annually, with the fee estimated to be between RM100 and RM115 per document. — Datasonic confirms it is in talks with Home Ministry for passport contract

Facility management firm GFM Services Bhd (KL:GFM) has signed an agreement to explore a stake in oil and gas services firm Shapadu Energy Sdn Bhd for an indicative RM30 million cash. Under the proposed acquisition, GFM will subscribe to shares equivalent to 15% in Shapadu Energy for RM10 million, and purchase 30% directly from Shapadu Corporation for RM20 million. GFM and Shapadu will also sign a put and call option agreement. The Edge Malaysia weekly has reported on Dec 9 that GFM’s potential acquisition of Shapadu Energy, which provides downstream maintenance and turnaround services as well as upstream maintenance, hook-up and commissioning activities. — GFM Services to explore 45% stake in energy services firm Shapadu for RM30m cash

TMC Life Sciences Bhd (KL:TMCLIFE) shareholders have voted to remove its suspended chief executive officer Wan Nadiah Wan Mohd Abdullah Yaakob as the director of the healthcare provider, effective immediately. In the extraordinary general meeting (EGM) held on Monday, 58.7% of present shareholders holding 99.98% voted in support, while 41.3% of shareholders who were present in the meeting holding 0.02% of voting shares rejected the resolution. In total, 54 shareholders holding 1.36 billion shares supported the proposal, while 38 shareholders holding 280,800 shares rejected the motion in the EGM. — TMC Life Sciences’ shareholders pass resolution to remove Wan Nadiah as director

Trading in the securities of property developer SkyWorld Development Bhd (KL:SKYWLD) will be suspended on Tuesday (Dec 10) pending the release of an announcement on a material transaction. The stock exchange had approved the company request for a trading suspension from 9am to 5pm, pursuant to Paragraph 3.1(b) of Practice Note 2 of the listing requirements. — Trading in SkyWorld securities to be halted on Tuesday pending material announcement

Construction and property group Gagasan Nadi Cergas Bhd (KL:NADIBHD) plans to build affordable homes worth over RM1 billion within the Kwasa Damansara township. Gagasan Nadi’s indirect subsidiary, Nadi Emery (KKD2) Sdn Bhd (NESB), has signed a development rights agreement with Kwasa Land Sdn Bhd and its unit, Kwasa Development (15) Sdn Bhd (KD15) for the project. Under the agreement, NESB will pay RM35.6 million to KD15 in exchange for the right to develop 4,183 units of affordable housing on a 34.9-acre parcel of land with Kwasa Land to act as the master developer for the project. — Gagasan Nadi Cergas inks deal to build over RM1 bil worth of affordable homes in Kwasa Damansara

Johor-based construction outfit Haily Group Bhd (KL:HAILY) has secured a contract to build 168 double-storey terrace houses in Taman Bestari Perdana in Johor Bahru worth RM38.20 million. The contract was awarded to its wholly owned Haily Construction Sdn Bhd by Meridin East Sdn Bhd, a subsidiary of Mah Sing Group Bhd (KL:MAHSING). The latest contract win, which is split into three phases and includes the construction of a power substation and two units of show houses, comes on the heels of the RM75.9 million contract that Haily announced in September it got from Meridin East to build 393 double-storey terraced houses in Johor Bahru. — Haily bags RM38 mil housing project in Johor Bahru from Mah Sing

Paragon Globe Bhd (KL:PGLOBE) has mutually agreed to terminate its memorandum of understanding (MOU) with Solarvest Holdings Bhd (KL:SLVEST) to explore a renewable energy-focused industrial development, following the group's sale of land to a data centre company. The MOU, which was signed on Feb 2 with Solarvest and focused on developing a green industrial township within DESA 100, is now considered irrelevant due to the land sale. The termination aligns with the group’s strategic restructuring of the Desa Cemerlang project in Johor, which includes the disposal of 67.62 acres of freehold land within DESA 100 to Bridge Data Centres Malaysia IV Sdn Bhd (47.86 acres) and Bridge Data Centres Malaysia VI Sdn Bhd (19.76 acres), collectively known as Bridge Data Centres Malaysia. — Paragon Globe mutually terminates MOU with Solarvest following land disposal in Johor

E-payment solutions provider Managepay Systems Bhd (KL:MPAY) has proposed a rights issue of one new share for every two shares held, to raise up to RM51.6 million to fund ongoing and future projects. A maximum of 516.04 million new shares will be issued at 10 sen each, while the company also plans to issue up to 774.06 million free warrants on the basis of one warrant for every two existing shares. Based on an assumed exercise price of 14 sen per warrant, the gross proceeds from the warrants could reach up to RM108.37 million. — Managepay plans one-for-two rights issue, free warrants