KUALA LUMPUR (Jan 15): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Consortium Gateway Development Alliance (GDA) has extended the closing date for its takeover offer for Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) to Jan 24 from Jan 17. This is the second time that GDA has extended the deadline, which was initially set as Jan 8. As of Wednesday (Jan 15), GDA — comprising the Employees Provident Fund (EPF), Khazanah Nasional Bhd, the Abu Dhabi Investment Authority (ADIA) and Global Infrastructure Partners (GIP) — has garnered 86.18% of the total issued shares of MAHB, still short of the 90% acceptance rate condition. — Khazanah-EPF consortium extends deadline for acceptance of MAHB takeover offer by another week to Jan 24

Southern Score Builders Bhd (KL:SSB8) has won a contract amounting to RM78 million for the proposed upgrading works to a detention pond in Kuala Lumpur, in a related party transaction. The contract was awarded by property developer Seribu Megah Sdn Bhd, which is wholly owned by Radium Development Bhd (KL:RADIUM), to Southern Score's wholly owned subsidiary Southern Score Sdn Bhd (SSSB). The contract is considered a related party transaction as the siblings of Southern Score's managing director Tan Sri Gan Yu Chai — namely Gan Kah Siong, Gan Kok Peng and Gan Tiong Kian — are major shareholders and directors of Radium. The contract period of the project will be for 12 months, commencing on Wednesday (Jan 15) until its projected completion on Jan 14, 2026. — Southern Score bags RM78 mil contract to upgrade detention pond in KL

SC Estate Builder Bhd (KL:SCBUILD) announced on Wednesday that its joint venture with Anjung Meriah Sdn Bhd has been shortlisted by the Energy Commission to develop a four-megawatt (MW) large-scale solar photovoltaic project in Arau, Perlis. The joint venture, in the form of a consortium between Anjung Meriah and SC Estate's wholly owned subsidiary SC Estate Construction Sdn Bhd (SCEC), is 40%-owned by SCEC and 60%-owned by Anjung Meriah. SC Estate's deputy chairman Kuay Jeaneve controls Anjung Meriah with a 97.18% stake. The latest award aligns with the company's mission to develop up to 3,000MW solar power plants and up to 3,000 affordable houses with solar power roofs. The group plans to finance the project through a combination of debt and equity, which it said is not expected to have a material effect on the company's gearing position. — SC Estate Builder consortium wins contract to develop 4MW solar project in Perlis

KJTS Group Bhd (KL:KJTS) is planning to operate two businesses in Singapore, involving cooling services and mobile facility maintenance services. The group's wholly owned unit KJ Technical Services Sdn Bhd signed an agreement with Singapore-based Cyclect Investments Pte Ltd on Wednesday, to set up a 49:51 joint venture company for the businesses. The cooling services will be the primary business for the JV company, while mobile facility maintenance services will be the secondary business, said KJTS. — KJTS inks JV with Singapore firm to operate cooling and mobile facility maintenance services

Sunview Group Bhd’s (KL:SUNVIEW) 60%-owned indirect subsidiary Sirage Energy Sdn Bhd has partnered with Sirage Skyvast Holdings Sdn Bhd to explore collaboration to undertake a solar power generation plant for an off-grid technology park — Perlis Advance Tech Park (PATP) located in Chuping, Perlis. According to the heads of agreement, both parties intend to develop, construct, and operate a solar power generation plant in PATP, and will undertake feasibility and viability studies. Sirage Energy will manage the technical design, regulatory compliance, and operational aspects of the project. Meanwhile, Sirage Skyvast, will be the master developer of PATP, and will oversee infrastructure planning and ensure the project integrates with the park’s overall development strategy. — Sunview to explore developing off-grid solar power plant in Chuping

Poh Kong Holdings Bhd (KL:POHKONG) is expecting improved sales in 2025, driven by a positive retail environment in Malaysia and a strong domestic economy. The jewellery retailer is planning to open two more outlets this year, said Poh Kong’s executive director Ermin Siow Der Ming, while citing retail associations’ projection of a 5.5-6% growth in retail sales this year, driven by an anticipated economic growth of at least 4.5% to 5%. Siow said Poh Kong’s sales are already on an upswing, and the company is anticipating a further increase with the Chinese New Year around the corner. And based on engagement with the government, it is understood that luxury tax will be put on hold for the moment, Siow said. — Poh Kong anticipates robust sales in 2025; expects luxury tax to be put on hold

VS Industry Bhd (KL:VS) said on Wednesday that the High Court has ruled in favour of the company in a minority shareholder oppression lawsuit it brought against NEP Holdings (Malaysia) Bhd and three of its directors. The electronics manufacturing services provider said the court found that NEP Holdings, as well as the directors, had “exercised in a manner oppressive to, or disregard of, VS Industry’s interest as a shareholder”. The three NEP Holdings directors are Lim Chang Huat, Lim Chee Kon, Chow Chun Pooi @ Chow Chan Leong. The court has ordered NEP Holdings, known for its 'Diamond' brand of water filtration system products, to be wound up. — 'Diamond' water filter maker NEP to be wound up after VS Industry wins shareholder oppression case

Ahmad Zaki Resources Bhd (KL:AZRB) has redesignated group managing director Datuk Seri Wan Zakariah Wan Muda as its executive vice-chairman, effective immediately. Wan Zakariah will take over the role previously held by his late brother, Tan Sri Wan Zaki Wan Muda, who was also the founder of AZRB. The position of the executive vice-chairman had been vacant since the late Wan Zaki retired from full-time work on July 1, 2021. Following his passing, the board considered it the right time to make necessary adjustments to the group’s organisational structure. — AZRB redesignates MD Wan Zakariah as executive vice-chairman after over three years of vacancy

Rexit Bhd (KL:REXIT), which provides software as a service, has appointed Tengku Tan Sri Mohamad Rizam Tengku Abdul Aziz, a member of the Kelantan royal family, as its new independent and non-executive chairman. The 63-year-old Tengku Temenggong of Kelantan succeeds Datuk Seow Gim Shen, who resigned from the company's board in October last year, just six weeks after taking on the role. Seow's resignation came right before he, along with Kong Chien Hoi, both major shareholders of the group, were sentenced to jail by a Singaporean court for their involvement in a conspiracy to unlawfully obtain data on over 9,000 individuals. They were both jailed for 14 weeks after pleading guilty to the offence. — Rexit appoints Kelantan royalty Tengku Mohamad Rizam as new chair