KUALA LUMPUR (Oct 29): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday: 

Pharmacy chains operator Big Caring Group Bhd is looking to raise RM2.03 billion in Malaysia's second-largest listing this year. The initial public offering is priced at RM1.08 per share, which will give Big Caring a market capitalisation of RM8 billion upon listing and values the company at about 42 times its trailing earnings. A group of shareholders — including managing director Lee Meng Chuan and his wife Lim Sin Yin, who is also an executive director — are pocketing RM462 million individually and through their joint vehicle from sale of their existing shares. — Big Caring sets Main Market IPO at RM1.08 apiece, shareholders to pocket RM1.4 bil

Zetrix AI Bhd (KL:ZETRIX) told Bursa Malaysia in response to its queries that a dissolution event was triggered after it breached a covenant requiring managing director Wong Thean Soon to remain its largest shareholder. However, the company is not required to immediately repay the outstanding amount under its RM2 billion sukuk programme. The group said it had made all payments due under the programme in accordance with the stipulated schedule and that no payment default had occurred. — Zetrix AI tells Bursa dissolution event for RM2 bil sukuk triggered but no immediate repayment of RM2.16 bil required

Separately, the group said its wholly owned unit MyEG Sdn Bhd has received a RM353.13 million tax bill from the Inland Revenue Board (IRB) over transfer pricing matters for the years of assessment 2021 to 2023. It said the government had filed a civil suit against MyEG over the matter. — Zetrix AI’s MyEG unit hit with RM353.13 mil tax bill, govt files suit

HeiTech Padu Bhd (KL:HTPADU) said it is no longer collaborating with Zetrix AI on the RM1.05 billion National Integrated Immigration System (NIISe) project, after both parties mutually agreed not to extend their teaming agreement. HeiTech Padu clarified an earlier report by The Edge Malaysia entitled HeiTech Padu: Collaboration with Zetrix AI for NIISe project lapsed, published on Oct 26, 2026. — HeiTech Padu says no longer working with Zetrix AI on NIISe, assures no impact on project

SD Guthrie Bhd (KL:SDG) has partnered with YTL Power International Bhd (KL:YTLPOWR) and Bumi Assets Sdn Bhd to develop a 1,623-acre industrial park in Bukit Kerayong, Selangor. SD Guthrie will invest up to RM101.12 million for a 30% stake in the joint-venture company, Bukit Kerayong Industrial Developments Sdn Bhd. Bumi Assets and YTL Power will each hold a 35% stake. As part of the deal, SD Guthrie will sell the land, currently used for oil palm plantation purposes within the Bukit Kerayong Estate, to the joint-venture company for RM933.57 million. — SD Guthrie to join hands with YTL Power, Bumi Assets to develop 1,623-acre Klang industrial park

Two companies linked to businessman Datuk Ng Meng Kee saw sharp declines in their share prices on Thursday, prompting Bursa Malaysia to query one of them. Ng is non-independent non-executive chairman of Mega Fortris Bhd (KL:MEGAFB), and has an almost 67% stake in the security seals specialist. He is also a substantial shareholder of rubber compounds manufacturer GIIB Holdings Bhd (KL:GIIB), with about 15% equity. Both companies saw declines of over 20% in their shares. Mega Fortris lost over half a billion in value after its share price fell from RM3.45 on Wednesday to RM2.74 at Thursday's close, with 6.87 million shares traded. Its market capitalisation fell from RM2.91 billion to RM2.32 billion. GIIB Holdings, meanwhile, lost 23.9% of its market capitalisation after its shares dove from 71 sen to 54 sen at Thursday's close, with its value dropping from  RM586.7 million to RM446.2 million. This steep drop prompted Bursa Malaysia Securities to query GIIB Holdings for unusual market activity, the company's third this year. — Two companies linked to businessman Ng Meng Kee see sharp dive in share price, Bursa queries one of them

JF Technology Bhd (KL:JFTECH) has proposed issuing up to 388.01 million free warrants to existing shareholders, giving them the option to buy more shares in the semiconductor test equipment maker over the next five years. The proposed bonus issue will be on the basis of two free warrants for every five shares held. — JF Technology proposes up to 388 mil free warrants to reward shareholders

TSH Resources Bhd (KL:TSH) said its review of records to date has not identified any business relationship with any of the 10 companies named by Singapore’s National Environment Agency (NEA) regarding forest and peatland fires in Indonesia. The palm oil company, which operates in Malaysia and Indonesia, said none of the 10 companies is a subsidiary, associate or joint venture of the group. — TSH Resources finds no business links to 10 Indonesian firms named by Singapore's NEA

British American Tobacco (Malaysia) Bhd’s (KL:BAT) net profit dropped 66.54% to RM2.35 million for the third quarter ended Sept 30, 2026 (3QFY2026) from RM7.02 million a year earlier amid higher restructuring expenses. Quarterly revenue edged up 0.41% to RM302.02 million from RM300.80 million amid higher revenue from West Malaysia. BAT Malaysia declared a third interim dividend of two sen per share, amounting to RM5.71 million, payable on Dec 28 to shareholders. — BAT Malaysia 3Q net profit falls 67% as restructuring costs bite

Mi Technovation Bhd (KL:MI) posted record earnings 3QFY2026 driven by higher sales volume, improved average selling prices and optimised product mix. The semiconductor equipment and materials group’s net profit for 3QFY2026 surged 84.8% to RM66.84 million from RM36.16 million a year earlier. Revenue for the quarter rose 29.9% to RM256.04 million from RM197.06 million, driven by strong growth in its semiconductor material business. — Mi Technovation 3Q profit surges 85% on strong semiconductor demand

Axis Real Estate Investment Trust (KL:AXREIT) reported a 2.8% year-on-year decline in 3QFY2026 net property income (NPI) as property income weakened while operating expenses increased. NPI fell to RM77.99 million from RM80.23 million a year earlier, while revenue slipped 2.1% to RM90.78 million from RM92.77 million. The industrial property-focused REIT declared a third interim distribution of 2.35 sen per unit. The distribution will be paid on Nov 30 to unitholders registered as at Nov 13. — Axis REIT's 3Q net property income falls 2.8%, declares 2.35 sen distribution

Chin Teck Plantations Bhd (KL:CHINTEK) reported a 68.58% drop in net profit for its fourth financial quarter, dragged down by lower palm product sales and the absence of a sizeable land disposal gain recorded by its associate a year earlier. Net profit for the quarter ended on Aug 31, 2026 (4QFY2026) fell to RM36.6 million from RM115.74 million previously, while revenue declined 41.68% to RM56.37 million from RM96.65 million. — Chin Teck Plantations' 4Q net profit falls 69% on lower sales, absence of disposal gain

Taghill Holdings Bhd (KL:TAGHILL) has secured a RM166 million contract to undertake the main building works for a commercial development in Penang. The the contract was awarded by Exsim Waterfront Sdn Bhd and comprises two towers in George Town with a total of 493 serviced apartment units. — Taghill bags RM166 mil construction job in Penang

Newly-listed SLGC Bhd (KL:SLG) secured a RM50.24 million contract to undertake the construction of detached industrial factories and related infrastructure works in Telok Panglima Garang, Selangor. The contract was awarded to its wholly owned subsidiary, SLG Construction Sdn Bhd, by ALH Construction Sdn Bhd. — SLGC bags RM50 mil construction contract, first win after listing