KUALA LUMPUR (Sept 12): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Vantris Energy Bhd (KL:VANTNRG), formerly known as Sapura Energy Bhd, has denied that it is the subject of a Malaysian Anti-Corruption Commission (MACC) investigation, following the agency’s announcement that it will forfeit RM12 million linked to funds allegedly misused by an undisclosed party in 2018. Vantris has not been informed of any allegation against the company or its current officers and directors, the company said, adding that its operations and financial activities are not affected. “We wish to clarify that Vantris Energy is not the subject of any MACC investigation. We wish to assure our clients, partners and stakeholders that our operations and financial activities, including access to our assets and bank accounts, remain unaffected,” the oil and gas services company said. The clarification came after the anti-graft agency's chief commissioner Tan Sri Azam Baki said on Tuesday that RM12 million belonging to Sapura Energy, now Vantris, would be forfeited and returned to the government.  — Vantris denies being subject of MACC probe amid RM12m fund forfeiture

Ecoscience International Bhd (KL:EIB), a turnkey contractor that specialises in palm oil mills and related facilities, has secured a RM40 million construction job for a palm oils and fats refinery plant in Johor. The contract was secured by its wholly-owned Ecoscience Manufacturing & Engineering Sdn Bhd on Friday from an oil process engineering company, according to Ecoscience in a bourse filing. The identity of the client was not disclosed. The project is slated for completion by July 1, 2026, and is expected to bolster the group’s earnings, said Ecoscience. On the financial front, the group, which presents itself as a one-stop solutions provider for the palm oil industry, has been loss-making since its listing on the ACE Market in July 2022. — Ecoscience bags RM40m construction job for palm oils and fats refinery in Johor

Bursa Malaysia Securities has reprimanded Fitters Diversified Bhd (KL:FITTERS) and fined five of its current and former directors RM400,000 each for failing to comply with requirements for immediate disclosure and shareholder approval for related-party transactions involving the company's acquisition of shares in Computer Forms (M) Bhd (KL:CFM). The five who were fined include chairman Datuk Sok One Esen, director Wong Kok Seong, former executive directors Hoo Swee Guan and Datuk Seri Gan Chow Tee, and former director Kho See Yiing. Each was fined RM400,000 after the regulator determined they had allowed the listing rule breaches. — Bursa reprimands Fitters Diversified, fines five directors RM400,000 each for breaking listing rules

Bursa Securities has publicly reprimanded Ecobuilt Holdings Bhd (KL:ECOHLDS) for the latter’s failure to make an immediate announcement and misrepresentation relating to a winding-up order last year. The construction company's former CEO and executive director Ng Choon Keith and former director Datuk Ong Chee Koen were also fined RM200,000 each for the offences, said Bursa Securities in a statement on Friday. The regulator noted that on July 24, 2024, the High Court had dismissed Ecobuilt's application to stay a winding-up petition filed against the company and proceeded to issue the winding-up order. "However, Ecobuilt had failed to make an immediate announcement of the winding-up order and further, misrepresented in the July 24 announcement that the High Court had ordered to stay the winding-up petition. Ecobuilt only announced the winding-up order on July 29, after a delay of three market days," said Bursa Securities. — Bursa reprimands Ecobuilt, fines two ex-directors for delay in announcing winding-up order

PBA Holdings Bhd (KL:PBA) has secured approval to acquire a 4.11-acre site in George Town for RM20 million, after the Penang state government agreed to cut the land premium by RM35.38 million. The land on Macallum Street will be used for the construction of a pump house, the operations and maintenance of the third twin submarine pipelines, and future water infrastructure projects, PBA said. The company said its wholly-owned subsidiary Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP) had initially been offered the land at a premium of RM55.38 million for the 99-year lease. PBAPP then appealed for a reduction on the grounds that it had reclaimed the land at a cost of about RM8 million, while part of the reclaimed area had already been surrendered to the state without charge. — PBA Holdings secures site for submarine pipelines with big cut in land premium

Maxim Global Bhd (KL:MAXIM) is buying a nine-storey office tower on Jalan Klang Lama here for RM29.5 million to serve as its new office. The property developer said it has entered into a sale and purchase agreement with Magna Tiara Development Sdn Bhd to acquire the building — called Southbank Block 6 — measuring 4,039 sq m, at RM678.55 per sq ft. The proposed acquisition is aimed at strengthening the company’s image and branding by establishing a visible presence in a strategic location, Maxim Global said. It added that the new office will provide a more conducive workplace for employees, enhancing staff satisfaction and retention while supporting the group’s long-term growth. — Maxim Global buys office tower on Jalan Klang Lama for RM29.5m

KLK LAND, a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd (KL:KLK), has launched KLK TechPark — a 1,500-acre integrated industrial hub in Tanjong Malim, with Chinese automotive giant BYD confirmed as the anchor investor for Phase 1. The launch was officiated on the same day by Perak Menteri Besar Datuk Seri Saarani Mohamad, alongside Minister of Science, Technology and Innovation Chang Lih Kang, Perak executive councillor for industry Loh Sze Yee, and KLK executive chairman Tan Sri Lee Oi Hian. Located near the Automotive High-Tech Valley, KLK TechPark comprises 1,300 acres of land for industrial development and 200 acres for residential support, to be developed in phases between 2025 and 2035. — KLK Land launches RM3.5b industrial hub in Tanjong Malim, with BYD as anchor investor

Scientex Bhd (KL:SCIENTX), the main shareholder of Scientex Packaging (Ayer Keroh) Bhd (KL:SCIPACK), has proposed a selective capital reduction and repayment plan. Under this plan, all SciPack shareholders except Scientex will get RM1.50 cash per share, totalling about RM147.82 million. The shares of these shareholders will be cancelled, giving Scientex full ownership of SciPack. The company will also cancel 550,100 treasury shares after the exercise, according to a bourse filing on Friday. This will make SciPack a wholly-owned subsidiary of Scientex, increasing its control over the business. Scientex had previously attempted to take full control of SciPack (formerly Daibochi) in 2021, but only raised its stake to 71.89% — short of the 90% needed to delist the company. — Scientex tries again to privatise Scientex Packaging with RM1.50 per share capital reduction, repayment plan

Syarikat Takaful Malaysia Keluarga Bhd (KL:TAKAFUL) is broadening its portfolio beyond its core strengths in credit-related products and motor takaful by introducing individual life protection offerings. The family takaful operator said that the forward-looking move aligns with sustainable living trends and positions Takaful Malaysia to capture new growth opportunities in emerging customer segments. The group is set to expand its general takaful business beyond motor coverage, identifying significant opportunities to strengthen its presence and gain a competitive edge in a segment with only four active players by offering comprehensive non-motor takaful solutions such as fire, solar, personal accident and other asset protection products. — Takaful Malaysia broadens portfolio by introducing individual life protection offerings

Sunway Construction Group Bhd (KL:SUNCON) is divesting its entire 40% stake in Engie-Sunway DCS Sdn Bhd to Sunway Bhd’s (KL:SUNWAY) facilities management arm, Sunway Property & Facility Management Sdn Bhd (SPFM), for RM10.98 million cash. The move, which forms part of an intra-group restructuring exercise, will allow SunCon to streamline operations and sharpen its focus on its core construction and related services, SunCon said. At the same time, Sunway’s facilities arm will be able to strengthen its recurring income streams by integrating the district cooling system project into its portfolio, Sunway said. — SunCon divests district cooling JV to Sunway’s facilities arm in group realignment