KUALA LUMPUR (Oct 5): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Transport Minister Anthony Loke Siew Fook told reporters that the suspension of Zetrix AI Bhd (KL:ZETRIX) and subsidiary MyEG stemmed from RM314 million in unremitted Road Transport Department collections from May to September. The collections should have been transferred daily within one working day of each transaction. The company issued a RM231 million cheque to clear earlier arrears but the payment failed on Sept 30 after it instructed the bank not to process it. Following Loke's press conference, Zetrix AI issued a statement vowing to settle the dues to the government, and that it had submitted a proposal to resolve the issue. — Zetrix owes JPJ RM314m from May to September this year; firm stopped RM231m cheque meant to settle arrears — Loke; Zetrix submits proposal to settle government dues

eJamin, an online bail payment system operated by a unit of Practice Note 17 company Pertama Digital Bhd (KL:PERTAMA), ran for five years without a formal contract, the Public Accounts Committee found. Bail funds were also deposited into a commercial bank account held by Dapat Vista Sdn Bhd, instead of the federal government’s consolidated trust account, in contravention of the Federal Constitution and the Financial Procedure Act 1957. Dapat Vista is 80% owned by Television Airtime Services Sdn Bhd, a 51%-owned subsidiary of Pertama Digital. The remaining 20% is held by the technology outfit HeiTech Padu Bhd (KL:HTPADU). The bail deposit balance stood at RM193.71 million as at end-2024. However, the committee discovered that only RM62.3 million was held in bank accounts with the remaining RM130.8 million invested by Dapat Vista in instruments including sukuk, without government approval or legal authority. The investment allowed Dapat Vista to earn RM4 million to RM5 million in interest, which the company regarded as “service income”. — Pertama Digital ran eJamin for five years without formal contract, invested bail funds without approval — PAC

Yinson Holdings Bhd (KL:YINSON) has secured about US$600 million (RM2.5 billion) in additional firm contract backlog following an amendment to its contract for the FPSO John Agyekum Kufuor offshore of Ghana. The amendment covers a major upgrade to the FPSO vessel’s gas handling and processing capacity and extends its firm contract by four years to 2036. The incremental day rates for the modification works and contract extension are valued at about US$810 million and about US$600 million of that is attributable to the group. — Yinson secures additional RM2.5 bil in Ghana FPSO contract

Kelington Group Bhd (KL:KGB) said its wholly owned unit has been awarded a second contract by a manufacturer operating in the Sama Jaya Free Industrial Zone in Kuching, Sarawak, worth about RM133 million. The award covers the main structural steel works for the customer's data storage manufacturing facility, which is being expanded. Works will start immediately and are scheduled for completion by April 2028. — Kelington unit wins further RM133 mil contract for Kuching data storage plant

Information technology solutions provider Go Hub Capital Bhd (KL:GOHUB) has secured a five-year service contract worth RM65 million from Keretapi Tanah Melayu (KTMB) unit Tenang Capital Bhd. Go Hub said the job is to provide maintenance and support services for KTMB's Integrated Ticketing System. — Go Hub Capital bags RM65 mil contract from KTMB unit

Citaglobal Bhd (KL:CITAGLB), via indirect unit LAWI Engineering GmbH (LAWI Germany), has secured a RM29 million share of a RM52.1 million contract for a waste-to-energy (WTE) project in Thailand. LAWI Germany, together with a consortium partner, was awarded the contract by Siam Power Co Ltd for the engineering, procurement and construction of a steam boiler plant for the Siam Power Naklang WTE project in the Nakhon Ratchasima Province. LAWI Germany will undertake the imported engineering and equipment supply portion valued at €6.33 million (RM29 million). — Citaglobal unit secures RM29 mil portion of Thai waste-to-energy contract

West River Bhd (KL:WESTRVR) has secured a RM17.5 million subcontract for electrical, security and solar panel system works at the E-Metro Logistic Park in Bandar Bukit Raja 2, Selangor. The contract covers the supply, delivery, installation, testing and commissioning of electrical and extra-low-voltage systems, telephone services, security works and solar panel systems. — West River secures RM17.5 mil electrical, solar works for Selangor logistics park

Jati Tinggi Group Bhd (KL:JTGROUP) has secured two contracts from Tenaga Nasional Bhd (KL:TENAGA) (TNB) worth a combined RM15.7 million. The larger contract, worth RM13.44 million, is for the installation, testing and commissioning of underground cables and related accessories for TNB’s distribution network in Selangor. The other contract, worth RM2.27 million, is secured through a joint venture to install a distributed acoustic sensing system for TNB’s submarine power cable system between Kuala Perlis and Teluk Apau on Langkawi. — Jati Tinggi bags two TNB contracts worth RM15.7 mil

IJM Corporation Bhd (KL:IJM) has appointed non-executive chairman of KPMG Malaysia Datuk Johan Idris as its independent non-executive director and chairman, effective Monday. Johan, who previously served as KPMG Malaysia's managing partner and country senior partner, succeeds long-serving chairman Tan Sri Krishnan Tan following his retirement. Datuk Lee Teck Yuen, who stepped in as the interim chairman at IJM’s annual general meeting on Aug 27 to provide continuity while the board finalised its succession plan following Tan’s retirement, has now been redesignated as a non-executive director. — IJM appoints Johan Idris as new chairman

Datuk Clifford Hii Toh Leong has increased his stake in Asteel Group Bhd (KL:ASTEEL) to 53.08% following the close of his unconditional mandatory takeover offer on Monday. The mandatory offer at 7.5 sen per share was triggered after Hii Capital acquired the initial 52.94% stake for RM20.25 million in August. Separately, Asteel announced it has secured a RM15.8 million contract from H.N. Lau Agency Sdn Bhd for the construction of a three-storey logistics complex in Shah Alam, Selangor. — Clifford Hii ups Asteel stake to 53.08% after mandatory takeover offer