KUALA LUMPUR (July 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Unisem (M) Bhd (KL:UNISEM) plans to raise up to RM742.02 million through a private placement to fund the expansion of its semiconductor assembly, packaging and bumping solutions for artificial intelligence (AI) and high-performance computing, while reducing bank borrowings. The private placement will involve the issuance of up to 161.31 million new shares, representing up to 10% of the company's existing issued share capital with the issue price to be announced at a later date. Based on an illustrative issue price of RM4.60 per share, the exercise is expected to raise gross proceeds of about RM742.02 million. Of the proceeds, about RM444.54 million will be used to purchase semiconductor assembly, test and wafer bumping equipment and establish additional cleanroom facilities. Another RM269.93 million will be used to repay bank borrowings, RM22.95 million for working capital and RM4.6 million to defray expenses related to the proposed private placement. — Unisem plans private placement to raise up to RM742 mil for expansion

Duopharma Biotech Bhd (KL:DPHARMA) said it has formally secured multiple insulin contracts totalling over RM225 million from the government. The contracts comprise a three-year agreement valued at RM155.27 million for human insulin as well as another RM18 million for insulin glargine and RM52.5 million for insulin aspart for two years, according to a joint statement from the pharmaceutical company and its partner Biocon Ltd. Under the agreement, Biocon will manufacture the insulin out of its Johor plant while Duopharma will handle the distribution. The facility in Iskandar Puteri is one of Asia’s largest for insulin products, spanning drug substance manufacturing to fill-finish operations. — Duopharma Biotech gets insulin supply contracts totalling over RM225 mil

Southern Cable Group Bhd (KL:SCGBHD) has secured a supplementary contract worth RM403.6 million from Tenaga Nasional Bhd (TNB) (KL:TENAGA) for the supply of underground power cables and conductors. The contract, awarded to its unit Southern Cable Sdn Bhd, is an extension to the original one-year contract awarded in February 2025. It is valid for a one-year period until Aug 11, 2027. The latest contract raised its orders in hand to over RM1 billion, providing earnings visibility until 2027. —  Southern Cable bags RM404m contract extension from TNB 

Heavy machinery company Favelle Favco Bhd (KL:FAVCO) said on Thursday that it has secured three contracts worth a combined RM504 million for the supply of offshore and tower cranes. Two contracts, awarded by Floating Production Solutions Sdn Bhd and Dialog E&C Sdn Bhd, are for the supply of offshore cranes scheduled for delivery by the second quarter of 2027.The third contract, awarded by Samsung C&T Corporation, is for the supply of tower cranes which involves staggered deliveries from end-2026 to the second quarter of 2027. — Favelle Favco bags contracts worth RM504 mil to supply offshore and tower cranes 

Reservoir Link Solutions Sdn Bhd (RLS), a 60%-owned consulting subsidiary of Reservoir Link Energy Bhd (RLEB) (KL:RL), was appointed by Petronas Nasional Bhd (PETRONAS) as a panel contractor for integrated discovered resource assessment services under Package 2 covering carbon capture, utilisation and storage (CCUS) and contaminants. The scope of works include data management, geological and geophysical evaluation, subsurface and surface development planning, economic analysis, and technical reporting of CCUS sites. While the appointment does not guarantee works from PETRONAS, any works should be awarded through mini-bidding and/or direct award exercises throughout the tenure. The five-year appointment, effective from May 14, is expected to bring positive contributions to the company’s earnings for its financial year ending June 30, 2027 and throughout the appointment period. — Reservoir Link Solutions secures a five-year panel contractor for CCUS job from PETRONAS 

Singapore-based PK Green Fund has emerged as a substantial shareholder in Jentayu Sustainables Bhd (KL:JSB) through the acquisition of a 9.02% stake in the renewable energy developer. The fund acquired the stake, comprising 49.1 million shares, on June 30. A separate filing showed that the shares were disposed of by Datin Nurhaida Abu Sahid, the spouse of managing director Datuk Beroz Nikmal Mirdin, via an off-market transaction at 20 sen apiece, representing a 21.6% discount to Jentayu's closing price of 25.5 sen on same day. The transaction was valued at RM9.82 million. Following the disposal, Beroz's direct shareholding stood at 3.837%, while his deemed interest declined to 4.041%, giving him a combined stake of about 7.878%. PK Green Fund is a Singapore-domiciled investment fund focused on environmental and social impact sectors across emerging markets, including renewable energy. — Singapore-based PK Green Fund acquires 9% stake in Jentayu 

Aberdeen Group Plc has emerged as a substantial shareholder of Bumi Armada Bhd (KL:ARMADA) with its purchase of a 5.02% stake in the offshore oilfield services provider. Aberdeen acquired the stake, comprising 297.5 million shares, in two transactions on June 30. The transaction prices were not disclosed, but based on the day's closing prices of 34.5 sen, Aberdeen may have paid about RM102.64 million for the shares. — Aberdeen emerges as a substantial shareholder of Bumi Armada