KUALA LUMPUR (Sept 21): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Pekat Group Bhd (KL:PEKAT) said it will lease about 470 acres of land in Sungai Petani, Kedah for renewable energy activities, including the development of solar photovoltaic systems and battery energy storage systems. The engineering services firm said its wholly owned unit Pekat Teknologi Sdn Bhd had entered into a conditional lease agreement with an unnamed company to lease the land. The company cited a confidentiality obligation for its reason to not name the lessor. Under the agreement, the lease will have an initial tenure of 24 years. — Pekat unit to lease 470 acres in Sungai Petani for 24 years for renewable energy activities

Gamuda Bhd (KL:GAMUDA) and Australian construction group BMD Constructions Pty Ltd have secured a A$624 million (RM1.8 billion) contract to upgrade two roads in Western Sydney. Transport for New South Wales awarded the Elizabeth Drive Upgrade-Mamre Road Upgrade Stage 2 project to the Gamuda-BMD Joint Venture, which is equally owned by both parties. Gamuda’s 50% share of the contract is expected to generate A$312 million, or about RM908 million, in revenue. The project commenced on Monday and is targeted for completion in 2030. — Gamuda JV secures RM1.8 bil Western Sydney road upgrade contract

Southern Score Builders Bhd (KL:SSB8) has won a RM40 million subcontract for electrical works at a data centre project in Nilai, Negeri Sembilan. Southern Score Builders said the letter of award was given to its 51%-owned subsidiary SJEE Engineering Sdn Bhd from an unnamed local construction company on Monday. SJEE will be responsible for the supply, installation, and commissioning of electrical works, as well as maintenance and warranty services. — Southern Score Builders unit wins RM40 mil electrical works job for Nilai data centre

Powerwell Holdings Bhd (KL:PWRWELL) said it has secured two contracts worth RM190.42 million for the supply of low-voltage switchgear and related equipment for a data centre project in Johor. The electrical equipment manufacturer said its wholly owned unit, Powerwell International Sdn Bhd, will be supplying the equipment to a multinational technology corporation specialising in data centres. — Powerwell secures RM190m orders to supply low voltage switchgear for data centre in Johor

Straits Energy Resources Bhd (KL:STRAITS) has proposed a share capital reduction to eliminate RM90 million in accumulated losses. Based on the latest unaudited results, the proposed share capital reduction would eliminate the group's RM39.17 million accumulated losses as of June 30, 2026 — resulting in retained earnings of RM50.83 million, before taking into account the estimated RM165,000 expenses related to the exercise as well as the foreign currency translation reserve of RM4.05 million. On the company level, the share capital reduction will eliminate part of its accumulated losses of RM101.91 million, leaving accumulated losses of RM11.91 million. — Straits Energy Resources proposes capital reduction to wipe out RM90 million in losses

Putri Norlisa Najib, the eldest daughter of former prime minister Datuk Seri Najib Razak, has joined CTOS Digital Bhd (KL:CTOS) as an independent non-executive director. The 45-year-old lawyer's board appointment will take effect on Sept 25. She is one of three children from Najib's first marriage to Tengku Puteri Zainah Tengku Eskandar. — CTOS appoints Najib's daughter Putri Norlisa as independent director

Dialog Group Bhd (KL:DIALOG) said its RAJA Cluster small field asset production-sharing contract (PSC) has received approval from Petroliam Nasional Bhd (PETRONAS) for an US$81 million (RM330.29 million) field development and abandonment plan. The development plan follows Dialog’s subsidiary Dialog Resources Sdn Bhd’s signing of the RAJA Cluster SFA PSC with MPM in December 2024, under which Dialog holds a 100% participating interest and operatorship. — Dialog gets PETRONAS approval for US$81m RAJA Cluster development plan

Excel Force MSC Bhd (KL:EFORCE), one of the companies linked to businessman Wong Thean Soon, has proposed a private placement to raise up to RM10.98 million for working capital and free up funds for a software project. The financial technology solutions provider plans to issue up to 60.99 million new shares, representing 10% of its existing issued share capital, to third-party investors to be identified later. At an illustrative issue price of 18 sen per share, the exercise is expected to raise RM10.98 million, of which RM10.76 million will be allocated for working capital and RM220,000 for placement expenses. — Excel Force proposes RM11 mil private placement to fund working capital as TS Wong hit by selldowns

M&A Equity Holdings Bhd (KL:M&A) said its non-executive director Thong Mei Chuen has been redesignated as non-executive chairperson, effective Monday. Mei Chuen is the daughter of businessman Datuk Seri Thong Kok Khee. Kok Khee is the largest shareholder of Insas Bhd (KL:INSAS), which in turn is the controlling shareholder of M&A Equity Holdings with a 50.51% stake. — M&A Equity Holdings redesignates Thong Mei Chuen as non-executive chairperson

Winstar Capital Bhd (KL:WINSTAR) proposes to issue a RM300 million sukuk to finance investments and land acquisition, as well as to refinance existing loans. The group, which lodged the sukuk murabahah programme with the Securities Commission Malaysia on Monday, said proceeds will also be used to defray issuance expenses and for working capital. Winstar Capital said the programme carries a tenure of 30 years, with the first issuance expected within 90 business days of lodgement. — Winstar Capital plans RM300 million sukuk for investments, land acquisition, refinancing

Interior fit-out firm Inspace Creation Bhd (KL:INSPACE) has won a subcontract of RM34.75 million to undertake renovation works on commercial properties. The group stated that its indirectly wholly owned subsidiary, IDPM Builder Sdn Bhd, had accepted a letter of award for the project from an undisclosed customer on Monday. The company said it could not disclose the identity of the main contractor as well as the location of the project and specific details of the subcontract due to confidentiality and non-disclosure obligations. — Inspace Creation bags RM35 mil subcontract for renovation works