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

Zetrix AI Bhd (KL:ZETRIX) faces potential sukuk payment obligations of RM2.16 billion if it fails to resolve a covenant breach by Oct 22, which could trigger a payment default. The company said the breach arose after managing director Wong Thean Soon ceased to be its largest shareholder following forced share sales. If the breach is not resolved by Oct 22, Zetrix said it will seek sukuk holders’ approval to waive the covenant or provide further instructions on how to proceed. — Zetrix on the hook for RM2.16 bil as sukuk holders sound alarm bell  and Zetrix AI acknowledges potential breach of sukuk covenant

Genting Bhd (KL:GENTING) executive chairman Tan Sri Lim Kok Thay’s private investment vehicle, Kien Huat Realty Sdn Bhd, has acquired additional shares in the group as its stock hovers near its two-decade lows. The latest acquisitions bring Lim's deemed interest in Genting to 45.24% or 1.74 billion shares. Lim has raised his deemed interest in Genting by about 6.42 million shares amid the stock's sell-off in the wake of its proposed RM1.25 billion rights issue announcement last week. — Genting chairman buys more shares as stock nears two-decade low

Genting Property Sdn Bhd, the property division of Genting Plantations Bhd (KL:GENP), has entered into a strategic partnership with Huawei Technologies (Malaysia) Sdn Bhd to master-plan Johor Tech Smart City (JTSC), including its flagship 430-acre smart campus within the Knowledge AI Campus. The agreement marks Huawei’s first international smart campus partnership and the overseas deployment of its AI-enabled master-planning capability. Under the partnership, Huawei will integrate its global smart campus expertise and advanced AI capabilities into JTSC's foundational design, drawing from its smart campus deployments in Shanghai and Dongguan. — Genting Property partners Huawei to master-plan 430-acre smart campus at Johor Tech Smart City

IOI Properties Group Bhd (KL:IOIPG) said its board has yet to deliberate on the potential acquisition of Singapore properties mentioned by its chief executive officer in a media report. The group said this in a bourse filing on Friday after CEO Datuk Lee Yeow Seng was quoted in a Bloomberg report the previous day as saying that IOI Properties was in exclusive talks to buy retail venue Chijmes and the Capitol Kempinski hotel. — IOI Properties board yet to deliberate on potential Singapore acquisitions

Public Bank Bhd (KL:PBBANK) could see its consolidated net assets and earnings per share reduced by four sen, following an expected HK$1.964 billion — or about RM1.1 billion — goodwill impairment at its Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL). The impairment is expected to contribute to a loss after tax of between HK$1.9 billion and HK$2 billion for the financial year ending Dec 31, 2026, compared with a net profit of HK$80 million in 2025. It is proposing to privatise its 73.23%-owned PFHL for HK$2.50 per share or HK$734.75 million, to acquire the remaining 26.77% stake held by minority shareholders. — Public Bank’s HK unit to take HK$1.9b non-cash impairment, trimming parent’s net assets and earnings by four sen per share

RHB Bank Bhd (KL:RHBBANK) said it has applied to Bank Negara Malaysia for more time to conclude negotiations with Tokio Marine Asia Pte Ltd on the proposed merger of their insurance business in the country. RHB said the two sides have made meaningful progress in the talks, including ongoing due diligence reviews and discussions on key commercial terms and transaction documentation. The extension request follows BNM’s approval in May for RHB to make a second attempt at negotiations with Tokio Marine Asia for the merger of their respective subsidiaries, Tokio Marine Insurans (Malaysia) Bhd and RHB Insurance Bhd, to form an enlarged entity. — RHB Bank seeks more time to conclude insurance merger with Tokio Marine

Cape EMS Bhd (KL:CAPE) is collaborating with Taiwan-listed FIC Global Inc (FICG) to serve as its strategic partner in the latter’s optical transceivers manufacturing expansion in Johor. It entered into a memorandum of agreement with FICG’s unit Pro3C (Malaysia) Sdn Bhd which has a targeted US$2 billion (RM8.16 billion) manufacturing revenue, to support the latter’s manufacturing operations in Senai. As part of the deal, Pro3C will subscribe to 50 million redeemable convertible preference shares (RCPS) of Cape EMS at RM1 a piece for RM50 million. — Cape EMS partner FIC Global unit for Johor expansion, proposes RM50 mil RCPS issuance

Datuk Vijayasundaram Jeyabalan has emerged as a substantial shareholder in Turiya Bhd (KL:TURIYA) after acquiring 22.872 million shares, representing a 9.091% stake in the company, through a private placement. The stake makes him the company’s second largest shareholder. He subscribed for the entire placement at 40 sen per share, amounting to RM9.15 million. The acquisition was made on Oct 14, 2026. Vijayasundaram is the chief executive officer of LSP Sdn Bhd, which specialises in lighting projects and interior contracting, with a focus on the hospitality sector, royal institutions and government buildings.. — Vijayasundaram Jeyabalan emerges as Turiya’s second-largest shareholder with 9.09% stake via placement

EGH International Bhd (KL:ECOGRP) fell in its ACE Market trading debut on Friday amid relatively weak demand for the interior fit-out firm’s shares. The stock opened at 14.5 sen compared to its initial public offering price (IPO) of 16 sen per share. The counter tested intraday low of 12 sen before closing at 13.5 sen, down about 16%, after more than 71 million shares exchanged hands. Market capitalisation was RM135 million based on the last price. — EGH International stumbles in ACE Market debut

Westport Holdings Bhd's (KL:WPRTS) earnings are likely to beat consensus in the third quarter, underpinned by stronger throughput and value-added services, Maybank Investment Bank said in a note on Friday. The house said the first six months' core earnings came in at RM682 million, accounting for 52% and 54% of its own and consensus for financial year ending Dec 31, 2026 (FY2026) estimates, respectively, leaving room for potential earnings upgrades for the second half. Westports 3QFY2026 results are scheduled to be released on Oct 21, 2026. — Westports' earnings likely to beat consensus in 3Q, tariff hikes to sustain growth into 2027

Cosmos Technology International Bhd (KL:COSMOS) has secured a contract worth RM3.93 million to supply and deliver data loggers and advance pressure management control equipment to Kedah’s water supply operator. The group said its wholly owned unit received the contract from Syarikat Air Darul Aman Sdn Bhd (SADA) with the contract due to run for four months. This is the third contract it has received in a year. — Cosmos Tech to supply RM3.9m in monitoring equipment to Kedah water utility