KUALA LUMPUR (Dec 1): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Genting Malaysia Bhd (KL:GENM) is set to remain listed, after Genting Bhd (KL:GENTING) secured less than a 75% stake in the company following its privatisation bid. Genting said that at the close of its offer on Dec 1, it only managed to secure a 73.133% interest in GENM. Another 0.202% in acceptances were yet to be vetted. Genting had said it would not maintain GENM's listing status should the acceptance level for its RM2.35-a-share offer cause the company to fall below the 25% public shareholding spread. — Genting Malaysia to remain listed after Genting falls short of 75% ownership threshold

Malaysia’s largest mobile network operator CelcomDigi Bhd (KL:CDB) has secured spectrum access for 1800MHz and 2600MHz bands from the Malaysian Communications and Multimedia Commission (MCMC), which will strengthen its network and enhance customer experience. The 1800MHz assignment runs until June 30, 2032, while the 2600MHz runs until June 30, 2027. The company paid RM292.5 million upfront for both bands and will make annual payments totalling RM120 million over the assignment periods. — CelcomDigi secures 1800MHz and 2600MHz bands from MCMC, pays RM292.5 mil upfront

Petron Malaysia Refining & Marketing Bhd (KL:PETRONM) said its Port Dickson Refinery’s product jetty was damaged and partially collapsed during tropical storm Senyar on Nov 28, prompting a temporary halt in refinery operations. The refinery's jetty, located offshore in Port Dickson, is used to receive and discharge refined products between the refinery and tanker vessels. As a result, the refinery will be unable to receive and process incoming crude oil during the shutdown. The group is assessing alternatives to mitigate the disruption and restore operations, while determining the repair cost and financial impact. — Petron Malaysia temporarily halts Port Dickson refinery after offshore jetty partly collapses during tropical storm Senyar

Sunway Real Estate Investment Trust (KL:SUNREIT) has appointed Derek Teh Wan Wei as its new chief executive officer (CEO), effective Monday. He currently serves as vice-chairman of the Malaysian REIT Managers Association (MRMA) and has over 20 years of experience in the property sector. — MRMA vice-chairman Derek Teh appointed Sunway REIT’s new CEO

Oil and gas services provider T7 Global Bhd (KL:T7GLOBAL) announced changes in its leadership team with the appointment of Azman Yakim as its new group chief executive officer (CEO). His predecessor Tan Kay Zhuin, who held the position for three years, was redesignated as an executive director. — T7 Global appoints Azman Yakim as group CEO

Tuju Setia Bhd (KL:TJSETIA)  has secured a  construction contract from Sunway Bhd (KL:SUNWAY) worth RM420 million, nearly six times the company’s market capitalisation of RM62.73 million. The project, part of the proposed Sunway Cochrane development, comprises two serviced apartment blocks with rooftop facilities, a seven-storey podium with retail floors and a link bridge to the Cochrane MRT Station. — Tuju Setia clinches RM420m construction job from Sunway

Sunway Bhd (KL:SUNWAY) said its unit Sunway Cochrane Sdn Bhd has proposed to establish a sukuk wakalah programme of up to RM2 billion to support its working capital and expansion plans. Sunway Cochrane on Monday lodged the required documents with the Securities Commission Malaysia for the programme, which includes green sukuk. — Sunway unit to establish RM2 bil sukuk programme for working capital, expansion plans

Nova MSC Bhd (KL:NOVAMSC) is proposing the listing of its 60%-owned subsidiary Dex-lab Pte Ltd on the Catalist Board of the Singapore Exchange. The proposed listing is part of Dex-lab’s strategy to scale its humanoid robotics and eldercare technology business across Singapore, Hong Kong, Australia and other Asia-Pacific markets. Singapore-based Evolve Capital Advisory Private Limited has been appointed as the sponsor for the proposed Catalist listing. — Nova MSC eyes SGX listing for 60%-owned Dex-lab to grow robotics, eldercare business

Ho Hup Construction Company Bhd’s (KL:HOHUP) shareholders have rejected the re-election of the founding family’s last board member Datin Chan Bee Leng and blocked RM500,000 in directors’ fees at Monday’s annual general meeting. Chan is the wife of Datuk Low Tuck Choy, the son of the founder of Ho Hup, who ceased to be a substantial shareholder of the company on Oct 22. Her son, Kheng Lun, was removed from the board via an extraordinary general meeting called by substantial shareholder Omesti Holdings Bhd (KL:OMESTI). Chan’s rejection and the move to refuse directors’ fees for January-June 2025 and the 2026 financial year come on the heels of a boardroom tussle involving the founding Low family and Omesti. — Ho Hup’s shareholders block re-election of founding family’s last board member, refuse directors’ fees