KUALA LUMPUR (Sept 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

AirAsia Group Bhd's (KL:AAGB) operation is sustainable with over RM1 billion cash in hand, group adviser Tan Sri Tony Fernandes said, as he dismissed concerns about the airline's finances. The low-cost airline also did not request for a government bailout, he told a press conference, noting that earnings are catching up with costs after soaring jet fuel prices badly hit its second-quarter results. — AirAsia sustainable with RM1 bil cash, no govt bailout requested, says Fernandes

Capital A Bhd (KL:CAPITALA) has proposed a debt restructuring scheme involving wholly-owned subsidiary Move Digital Sdn Bhd, in a bid to resolve its historical liabilities. Move Digital is an investment holding company for Capital A, which currently holds a 99.56% stake in fintech firm BigPay Pte Ltd and a 13.6% stake in Tune Protect Group Bhd (KL:TUNEPRO). Under the proposed scheme of arrangement, Move Digital would potentially sell all or a majority of its equity interest in BigPay, carry out an orderly divestment of its 13.6% stake in Tune Protect and recover receivables estimated at RM32.2 million. — Capital A proposes to divest BigPay, Tune Protect stakes under debt restructuring scheme

KYM Holdings Bhd (KL:KYM) is planning to acquire a 70% stake in orthopaedic and specialist healthcare group Regen Healthcare Sdn Bhd, which marks its entry into the healthcare sector and diversifying its manufacturing-dominated earnings base. KYM's wholly-owned unit KYM Healthcare Sdn Bhd signed an agreement with Regen Healthcare’s sole shareholder Dr Rajesh Singh Karnail Singh to acquire 700,000 shares for an indicative amount of up to RM33.5 million cash. — KYM to expand into healthcare segment with 70% stake buy of Regen Healthcare

TMK Chemical Bhd (KL:TMK) has agreed to acquire Chemical Company of Malaysia Bhd (CCM) from Batu Kawan Bhd (KL:BKAWAN) and its wholly-owned unit Enternal Edge Sdn Bhd for RM939.9 million. TMK said the purchase will be satisfied through RM438.5 million cash and the issuance of 262.5 million new TMK shares to Batu Kawan at RM1.9098 apiece.  The new shares will see Batu Kawan acquire a 20.8% stake in TMK's enlarged share capital. — TMK Chemical to buy CCM from Batu Kawan for RM939.9m

Tenaga Nasional Bhd (KL:TENAGA) will absorb the impact from the electricity tariff fuel surcharge exemption that has been expanded to more households up until the end of this year. The exemption from automatic fuel adjustment, retail charges of RM10 per month, and sales-and-services tax carry an estimated savings of RM150 million for eligible households, said CEO Datuk Shamsul Ahmad. The number of households using more power has risen in recent months, he said while stressing that the company does not benefit from the surcharge. — Tenaga Nasional to absorb fuel surcharge for electricity subsidy expansion

Vestland Bhd (KL:VLB) has secured a job worth RM107.61 million to undertake slope mitigation and related works at a reservoir catchment area in Terengganu. The contract, awarded to its wholly-owned subsidiary Vestland Infra Sdn Bhd, will begin in October and be completed by May 2029. Vestland has secured eight new major contracts year to date with a combined value of RM1.6 billion, lifting its total outstanding order book to RM2 billion. — Vestland bags third contract this month, this time for RM108 mil on slope mitigation

Eco World Development Group Bhd (KL:ECOWLD) has won the bid to develop a prime residential site in Singapore for S$208.1 million (RM667.6 million). Its wholly-owned unit Eco World Development (S) Pte Ltd (EWPL) won the tender for the 4,283 sq m site at Lorong Puntong/Sin Ming Avenue. The tender was called by Singapore’s Urban Redevelopment Authority. The site — which comes with a 99-year lease — is designated for residential development comprising condominiums or flats, with a maximum permissible gross floor area of 11,994 sq m. — EcoWorld wins tender for prime residential site in Singapore with RM668m bid

Zetrix AI Bhd (KL:ZETRIX) is postponing its cash dividend payout following a court order secured by a substantial shareholder of the digital services firm. A sealed ad-interim injunction granted by the High Court of Kuala Lumpur dated Sept 14 and received by the company’s share registrar prevents the disbursement of cash dividends to specific accounts claimed by the substantial shareholder as beneficial owner. The shareholder, which Zetrix did not name, alleged that nominees had failed to execute instructions to elect to receive shares under the company’s dividend reinvestment plan in lieu of cash. — One shareholder's court order holds up Zetrix AI's entire cash dividend payout

Engineering and infrastructure specialist Jati Tinggi Group Bhd (KL:JTGROUP) has won a RM72.84 million contract to design and build a high-voltage 275kV cable connection to a data centre's landing station in the Banting Technology Park, Selangor. This marks Jati Tinggi’s third contract win in the last 30 days. The group said its wholly-owned Jati Tinggi Holding Sdn Bhd accepted the letter of award for the project from an undisclosed customer on Sept 18. The contract, in effect upon acceptance, is scheduled to conclude on Jan 15, 2027. — Jati Tinggi bags RM73 mil data centre-linked job in Selangor; its third contract win in a month