KUALA LUMPUR (Aug 17): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Ekovest Bhd (KL:EKOVEST) plans to raise up to RM355.85 million via a renounceable rights issue of up to 1.78 billion shares at 20 sen each to fund key infrastructure and property projects—including the LIKE expressway—and pare down debt. Major shareholder Tan Sri Lim Kang Hoo and his vehicle are fully backing the exercise with irrevocable undertakings, which could lift their collective stake to 57.54% and trigger a mandatory general offer if other shareholders do not participate. Ekovest plans RM356m rights issue to fund LIKE, pare debts; major shareholder Lim Kang Hoo may trigger MGO

Destini Bhd (KL:DESTINI) directors Datuk Abd Aziz Sheikh Fadzir and Ismail Mustaffa have resigned from the board effective Aug 15. The moves come ahead of a planned EGM on Aug 21 requisitioned by Destini’s shareholders to remove Abd Aziz, Ismail and two other directors — all of whom have now resigned. Destini's largest shareholder Abdul Aziz among two board members to resign ahead of EGM

99 Speed Mart Retail Holdings Bhd (KL:99SMART) posted a 13.36% increase in its second-quarter net profit to RM163.95 million from RM144.63 million a year earlier, with revenue growing to RM3.08 billion from RM2.71 billion as it recorded increased customer traffic from its expanding outlet network. — 99 Speed Mart notches 13% rise in 2Q profit as outlet expansion drives sales

Kerjaya Prospek Group Bhd (KL:KERJAYA), which has emerged as the largest shareholder of ES Sunlogy Bhd (KL:SUNLOGY), has raised its stake in the mechanical and electrical (M&E) engineering and renewable energy firm to 31% from 28.27%. The group’s wholly-owned unit Acumen Marketing Sdn Bhd had acquired another 21 million shares or a 2.73% stake from four shareholders at an average price of 25.54 sen per share — for a total RM5.36 million, cash. — Kerjaya Prospek raises stake in ES Sunlogy to 31%, nearing threshold for mandatory general offer

Alam Maritim Resources Bhd’s (KL:ALAM) chief executive and managing director Datuk Azmi Ahmad has been remanded to facilitate an ongoing investigation by the Malaysian Anti-Corruption Commission (MACC). The company’s shares fell to their lowest in more than five months after authorities detained the offshore oil-and-gas services firm’s chief executive. — Alam Maritim falls to five-month low after CEO detained by authorities

Sports Toto Bhd’s (KL:SPTOTO) fourth-quarter net profit jumped 55% year-on-year to RM62.54 million amid sharply lower direct costs and indirect expenses. It plans to distribute a fourth interim dividend of three sen per share, payable Oct 16, lifting total payout for FY2026 to 11 sen from eight sen previously. — Sports Toto raises dividend to three sen per share as 4Q earnings surges 55%

Malakoff Corp Bhd’s (KL:MALAKOF) second-quarter net profit halved to RM31.7 million from RM62.8 million a year earlier as revenue dropped to RM1.91 billion from RM2.02 billion on lower capacity payments from Tanjung Bin Power Sdn Bhd (TBP). — Malakoff 2Q net profit halves on lower power plant contribution

Main Market newcomer SkyeChip Bhd (KL:SKYECHIP) posted a first-quarter net profit of RM13.92 million on a gross profit margin of nearly 42%, supported by robust demand for its proprietary semiconductor solutions across artificial intelligence (AI), high-end performance computing and automotive applications. The integrated circuit designer's revenue for the quarter ended June 30, 2026 (1QFY2027) came in at RM49.62 million. — SkyeChip logs RM13.9m 1Q net profit as US, China drive sales

Straits Energy Resources Bhd (KL:STRAITS) plans to diversify into engineering, procurement, construction and commissioning (EPCC) services, saying the move would allow it to pursue higher-value contracts in renewable energy, data centres and smart city infrastructure. — Straits Energy plans business diversification into EPCC, stake sale in Nasdaq-listed oil bunkering firm

Kumpulan Jetson Bhd (KL:JETSON) is countersuing its co-founder Datuk Teh Kian Ann for RM1.27 million after rejecting his lawsuit seeking RM891,847 for alleged outstanding refunds from a cancelled employee share option scheme. This comes after a recent forensic review uncovered irregularities in the scheme implementation. Kumpulan Jetson countersues co-founder Teh Kian Ann in ESOS dispute