KUALA LUMPUR (Oct 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Zetrix AI Bhd (KL:ZETRIX) on Thursday confirmed it is under police investigation following a Bursa Malaysia query about a news report on the probe. The company said its operations remained unaffected by the ongoing investigation. It also pledged to cooperate fully with the authorities and said it would communicate any material developments through official announcements. — Zetrix AI confirms police investigation into company following Bursa query

Bus Cap Bhd (KL:BUSCAP) said it was unaware of any corporate developments that have triggered an unusual market activity (UMA). The bus manufacturer was responding to an UMA query from Bursa Malaysia. In its reply on Thursday, the bus manufacturer said it is not aware of any rumours or other possible explanations for the recent sharp rise in its share price, while acknowledging that there are matters under discussion or negotiation. It said an announcement on this would be made once they are finalised or confirmed. The company’s shares reached a high of RM1.26 apiece before paring some gains to close at RM1.22 on Wednesday. — Bus Cap says unaware of reason for Oct 14 share price spike

Sunway Bhd (KL:SUNWAY) said its property arm, Sunway Property, soft-launched Tower C — the final tower of Sunway Velocity 3 — on Oct 10 virtually, following a 98% take-up rate across Towers A and B within two years. The developer said the virtual soft launch recorded over 100 online unit bookings through a newly introduced digital portal that allows buyers to complete bookings online after visiting the sales gallery. — Sunway Property soft-launches final tower of Sunway Velocity 3

AWC Bhd (KL:AWC) outperformed the broader market on Thursday after the engineering services firm added another contract related to data centres to its books. The repeat wins are stacking up, Apex Securities said, noting the latest contract worth close to RM40 million is the third given to AWC by Gamuda Bhd (KL:GAMUDA). That cements AWC’s status as an established subcontractor to the Malaysian construction giant. — AWC outperforms market after contract win, analysts stay positive

CTOS Digital Bhd (KL:CTOS) reversed course toward a new all-time low on Thursday as more analysts downgraded the digital services firm following a major cybersecurity incident. Hong Leong Investment Bank and CIMB Securities both cut their recommendations to ‘hold’ from ‘buy’ and sharply slashed their target prices, joining Kenanga Investment Bank that lowered its rating on Wednesday. All are warning of material impact to earnings from suspension of services. Restoration of its services “doesn’t mean immediate normalisation”, Hong Leong Investment said, warning that the company faces an even longer road ahead to rebuild confidence among its clients. — CTOS Digital resumes descent to new all-time low with more analyst downgrades

Astaka Padu Sdn Bhd and Kimlun Corporation Bhd (KL:KIMLUN) are extending their partnership to jointly develop the RM450 million gross development value Amora Serviced Residence (ASR) in Johor Bahru. ASR will be undertaken through Astaka Padu and Kimlun Corp’s existing joint venture company, Astaka Kimlun Sdn Bhd, marking its fourth collaboration between both groups following Menara MBJB, Aliva @ Mount Austin and Arden @ One Bukit Senyum. — Astaka Padu, Kimlun partner to develop RM450 mil serviced apartment project in JB

CelcomDigi Bhd (KL:CDB) said its wholly-owned subsidiary, CelcomDigi Telecommunications Sdn Bhd, has accepted a spectrum award from the Malaysian Communications and Multimedia Commission (MCMC) worth RM381.75 million to strengthen its mobile network. The award covers 2x20MHz of spectrum in the 2600MHz band for four years and 2x5MHz in the 900MHz band for five years. MCMC opened applications for the spectrum on Aug 14, 2026. — CelcomDigi pays RM382 mil for spectrum award to boost network capacity and coverage

Vestland Bhd (KL:VLB) has secured a contract worth RM225.07 million to undertake river widening and related flood mitigation works in Kelantan. The job, under the Integrated River Basin Development project, was awarded on Thursday by Pembinaan Rizen Sdn Bhd, said Vestland. It did not state the specific location of the works being undertaken from Oct 28. — Vestland bags RM225 mil river widening job in Kelantan

HeiTech Padu Bhd (KL:HTPADU) has secured a RM19.87 million contract extension from the Immigration Department to continue maintaining the Malaysian Immigration System (MyIMMs) for another two years. The information technology services provider said the extension will run from Feb 18, 2027 to Feb 17, 2029. The contract value includes an 8% sales and service tax. The extension comes as Malaysia works towards implementing the National Integrated Immigration System (NIISe), also undertaken by HeiTech Padu, which is intended to replace MyIMMs. — HeiTech Padu bags RM19.9m extension for immigration system maintenance until 2029

Duopharma Biotech Bhd (KL:DPHARMA) said on Thursday its wholly-owned unit has secured exclusive rights to distribute Taiwan-based Enimmune Corp's hand, foot and mouth disease (HFMD) vaccine in Malaysia, Singapore and Brunei, subject to regulatory approval in the three countries. The supply agreement was signed between Enimmune and Duopharma Biotech's wholly-owned unit Duopharma (M) Sdn Bhd (DMSB). Under the deal, DMSB is responsible for getting regulatory approval for the EnVAX-A71 Vaccine in the three countries. — Duopharma Biotech unit secures HFMD vaccine distribution rights in Malaysia, Singapore and Brunei

Mycron Steel Bhd (KL:MYCRON) has discontinued its bid to mount a court challenge against the government’s decision to remove anti-dumping duties on specific imported steel products. Mycron said it had decided to withdraw its judicial review after "a constructive discussion in relation to the matter" and not due to any court ruling. It said the decision was in the best interest of the group. — Mycron drops steel import duties removal challenge after ‘constructive discussion’ with authorities

HCK Capital Group Bhd (KL:HCK) is kicking off construction of the first phase of its RM1.8 billion e.Sentral SmartCity development in Shah Alam by awarding a RM220 million construction contract to Alphazen Contract Sdn Bhd. The entire 10-acre mixed-use development, which is touted to combine smart-living technology with direct access to nature, is located in Damansara West. — HCK Capital kicks off works on RM1.8 bil e.Sentral SmartCity with award of RM220 mil construction contract

JAKS Resources Bhd (KL:JAKS) has proposed to place out up to 10% of its total issued shares to third-party investors to be identified to raise an estimated RM40.71 million for debt repayment and working capital. The construction and energy group said the private placement will involve up to 262.63 million new shares. The issue price has yet to be fixed. The estimated proceeds are based on an illustrative price of 15.5 sen per share. The final price will be no more than a 10% discount to the five-day volume-weighted average market price of JAKS Resources shares immediately prior to the price-fixing date. — JAKS Resources plans RM40.71m placement to raise funds for debt repayment, working capital

Citaglobal Bhd (KL:CITAGLB) has proposed a capital reduction of RM255 million to wipe out its accumulated losses and create retained earnings to enable a share buyback. The group said the credit arising from the capital reduction will be used to set off the group's accumulated losses of RM217.72 million as at June 30 in full, with the remaining balance of RM37.06 million credited to retained earnings. Citaglobal said the accumulated losses were mainly attributable to historical operating losses and impairment of investments in subsidiaries incurred prior to its turnaround initiatives undertaken from 2021 onwards. — Citaglobal proposes RM255m capital reduction and share buyback

 PJBumi Bhd (KL:PJBUMI) is proposing a private placement of up to 10% of its shares to raise RM31.1 million for existing and future contracts. The group said the placement will be made to independent third-party investors to be identified later and may be implemented in tranches within six months of approval by Bursa Securities. — PJBumi moots RM31m private placement a week after share-split nod