KUALA LUMPUR (Nov 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

IOI Properties Group Bhd (KL:IOIPG) is looking to launch a private real estate fund backed by S$6 billion (RM19.1 billion) worth of Singapore assets in the next few months, with a potential sale of a 50% stake raising nearly RM10 billion. The property developer is also targeting a secondary listing on the Singapore Exchange in early 2027, as part of efforts to reduce its net gearing to between 30% and 50% over the next three to five years from about 85%. — IOI Properties to launch Singapore private fund in next few months, secondary listing in early 2027 

Separately, IOIPG Malaysia Real Estate Investment Trust (REIT) has priced its initial public offering at 96 sen per unit, which is expected to raise RM2.1 billion for IOI Properties. The REIT, with an initial portfolio of nine properties valued at RM7.66 billion, is expected to list on Bursa Malaysia's Main Market on Nov 25 with a market capitalisation of RM5.3 billion and a projected distribution yield of 6.6% for FY2027. — IOIPG Malaysia REIT sets Main Market IPO at 96 sen apiece 

Tenaga Nasional Bhd (KL:TENAGA) has teamed up with IOI Corporation Bhd (KL:IOICORP) and a consortium of 12 small and medium enterprises to develop a 500MW solar power project in Bahau, Negeri Sembilan. The project, which includes a 250MW/1,000MWh battery energy storage system, will be developed under the Corporate Renewable Energy Supply Scheme. Tenaga will hold a 70% stake, IOI Corp 25% and the SME consortium 5%, with the partners committing a combined maximum equity investment of RM606.2 million. — Tenaga, IOI Corp, SME consortium to develop 500MW solar project in Negeri Sembilan 

GDB Holdings Bhd (KL:GDB) has secured an RM877 million contract to demolish an existing factory and build a two-block, five-storey logistics hub in Shah Alam, Selangor. The 34-month project, awarded to its wholly owned subsidiary Grand Dynamic Builders Sdn Bhd, is scheduled to begin on Nov 4 and be completed by September 2029. The latest win follows a RM1.02 billion contract secured just days earlier to build a luxury residential development in Desa ParkCity, bringing GDB's outstanding order book to RM2.93 billion. — GDB bags RM877m construction job to build logistics hub in Shah Alam 

TWL Holdings Bhd (KL:TWL) is seeking shareholders’ approval to ratify 119.7 million employee share options granted to Datin Sek Chian Nee, wife of its executive chairman and major shareholder Datuk Tan Wei Lian, without prior approval as required under Bursa Malaysia's rules. The options, granted in July 2025, were fully exercised, raising RM3.12 million for the company. This marks the second such incident, after TWL previously sought retrospective approval for 192 million options granted to Tan himself without prior shareholders’ consent. The company plans to seek ratification at an extraordinary general meeting in the fourth quarter of 2026. — TWL Holdings again seeks approval for Esos grants made without prior consent, this time to chairman’s wife 

HB Global Ltd (KL:HBGLOB) has appointed Revenue Group Bhd co-founder Datuk Ng Chee Siong as executive director, while its chief financial officer Lim Yong Hwa has resigned, following the departure of founder and chief executive officer Shen Hengbao on Oct 30 after 17 years at the helm. The management changes come as the company faces a possible trading suspension from Nov 10 if it fails to issue its annual report by Nov 6, following the withdrawal of its auditor. HB Global is working to appoint a new auditor but has yet to determine when the report will be released. — HB Global appoints Ng Chee Siong as executive director as CFO exits amid annual report delay 

Malakoff Corporation Bhd (KL:MALAKOF) has resumed operations at its 429MW gas-fired power plant in Lumut, Perak, three months ahead of schedule, following a power purchase agreement with Tenaga. The plant, operated by subsidiary GB3 Sdn Bhd, recommenced operations on Oct 7 and is contracted to run until Dec 31, 2029. It is the second of three Malakoff plants being recommissioned to meet rising electricity demand in Peninsular Malaysia, with the third facility expected to begin operations in July 2027. — Malakoff restarts 429MW Lumut gas power plant 3 months ahead of schedule

Orkim Bhd (KL:ORKIM) plans to add five more tankers to its fleet between 2027 and 2029, starting with the expected delivery of Orkim Ruby in 2027. The group has also signed contracts to build two additional tankers, each with a capacity of 9,000 deadweight tonnes, for delivery in 2028. Separately, Orkim took early delivery of its new petroleum tanker, Orkim Jade, bringing its fleet to 21 vessels and increasing its total carrying capacity by 5.4% to 281,534 deadweight tonnes. Orkim Jade is expected to begin commercial operations this month under a long-term charter arrangement with Shell Malaysia. — Orkim to add five more vessels to fleet by 2029 

Pertama Digital Bhd (KL:PERTAMA) has paid an additional S$799,600 (RM3.26 million) deposit to extend the deadline for completing its proposed acquisitions of 80% stakes in D-Ron Singapore Pte Ltd and D-Ron Malaysia Sdn Bhd to Dec 31, 2026. Failure to make the payment would have resulted in both agreements being terminated and existing deposits forfeited. The acquisitions form part of Pertama Digital's efforts to regularise its financial condition after falling under Practice Note 17 status in July. — Pertama Digital pays additional S$800,000 deposit to extend D-Ron acquisition deadline to end-2026

MM Computer Systems Bhd (KL:MMCS) has secured a RM51.58 million contract to supply graphics processing unit (GPU)-accelerated servers designed for artificial intelligence (AI) and high-performance computing applications. The contract was awarded to its wholly owned subsidiary, Micro Technology Solution Sdn Bhd, by an unnamed Malaysian telecommunications infrastructure and data centre services provider. The servers will support applications including generative AI, large language model training and advanced data analytics. — MM Computer Systems bags RM52m job to supply AI-ready servers 

Asdion Bhd (KL:ASDION) has obtained court approval to convene a meeting of seven creditors with claims totalling RM4.66 million to consider a proposed debt restructuring. The High Court also granted three-month restraining orders protecting Asdion and its 51%-owned subsidiary, Transeaways Shipping Sdn Bhd, from creditor action. The freight forwarding company, which has been classified as a Guidance Note 3 company since July 2024, has until Jan 31, 2027 to submit its regularisation plan to Bursa Malaysia. Its shares have been suspended from trading since July 14. — Asdion gets court nod for creditor meeting over RM4.66 mil in claims, three-month protection granted

Pekat Group Bhd (KL:PEKAT) has secured approval from the Securities Commission Malaysia to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia, more than five years after its market debut in June 2021. The solar engineering firm, which first proposed the transfer in June this year, said the move would enhance its corporate profile and attract greater institutional investor interest. Pekat met the financial requirements for the transfer, having recorded a combined net profit of RM80.78 million between FY2023 and FY2025, exceeding the minimum RM30 million requirement. — SC approves Pekat Group's transfer to Main Market 

Theta Edge Bhd (KL:THETA) has secured a RM33.01 million contract to exclusively supply up to 5,742 laptops and desktop computers to IT solutions provider Aceteam Networks Sdn Bhd under a device-as-a-service project. The contract, undertaken by its wholly owned subsidiary Theta Technologies Sdn Bhd, will run for five years following the completion of user acceptance testing. It is expected to contribute positively to the group's earnings over five financial years, beginning FY2027. — Theta Edge bags RM33m contract to supply laptops and desktops 

ES Sunlogy Bhd (KL:SUNLOGY) has secured two subcontracts worth a combined RM25.07 million from Kerjaya Prospek Group Bhd (KL:KERJAYA) for electrical and infrastructure works in Pulau Andaman, Penang. The larger RM19.87 million contract involves electrical installations for a serviced apartment development, while the RM5.2 million contract covers infrastructure works for five bridges. The projects are expected to be completed by December 2029 and August 2028, respectively. Kerjaya Prospek holds a 31% stake in ES Sunlogy. — ES Sunlogy wins two electrical works subcontracts from Kerjaya Prospek