KUALA LUMPUR (Jan 3): Here is a brief recap of some corporate announcements that made the news on Wednesday:

YTL Power International Bhd jumped as much as 9.7% to hit a fresh high on Wednesday, extending last year's rally driven by strong earnings from its Singapore power business and data centre prospects. YTL Power's gains also boosted its 55.6%-parent YTL Corp Bhd to a new record high of RM2.01, up nine sen or 4.5%, pushing its market capitalisation to RM22.04 billion. The stock has more than tripled over the past 12 months. YTL Power closed at RM2.80, up 23 sen or 8.9%, with 43.36 million shares traded. At current price, its market capitalisation has swelled to RM22.69 billion. Over the last 12 months, the counter has more than quadrupled. YTL Power rally turns spotlight on further upside as analysts eye new target prices

Minetech Resources Bhd has appointed Abang Abdillah Izzarim Abang Abdul Rahman Zohari as the company's new executive chairman. Abang Abdillah, 45, is the son of Sarawak Premier Tan Sri Abang Abdul Rahman Zohari Abang Openg, more popularly known as Abang Johari or Abang Jo. Prior to this appointment, Abang Abdillah acquired a 15.58% stake in Minetech comprising 240 million shares, making him a substantial shareholder in the company. Minetech Resources appoints Sarawak premier's son as new executive chairman

Kerjaya Prospek Group Bhd has bagged a contract worth RM170.94 million from Persada Mentari Sdn Bhd, an indirect subsidiary of Eastern & Oriental Bhd, for the development of a 45-storey building on Andaman Island, Penang. The project entails the construction and execution of main building works for a 45-storey structure, including a 38-storey serviced apartment block comprising 380 units, a two-storey basement carpark, and a five-storey elevated car park. The completion deadline is set at 35 months from Jan 18, 2024. Kerjaya Prospek secures RM171 mil contract for 45-storey building in Penang

Datuk Fad'l Mohamed has resigned as CEO of Maybank Investment Bank Bhd (Maybank IB), the investment subsidiary of Malayan Banking Bhd. The investment bank said its chief operating officer Tengku Ariff Azhar Tengku Mohamed has been appointed its officer-in-charge effective Wednesday after Fad'l stepped down. Fad'l joined the investment bank as its deputy CEO back in 2015 before being promoted to CEO in 2018. Fad'l Mohamed resigns as Maybank IB CEO, COO Tengku Ariff appointed as person-in-charge

Eversendai Corp Bhd has agreed to scrap a planned injection of a liftboat business into the group, proposed almost four years ago. Eversendai said the mutual termination was due to the inability of Vahana Offshore (M) Sdn Bhd to satisfy the schedule of conditions precedent set in the share sale agreement dated June 30, 2020, to obtain the new financing facility upon the terms and conditions satisfactory to Eversendai (the purchaser). Eversendai does not expect the termination of the deal to have any material financial impact on the group or its subsidiaries. Eversendai terminates RM235 mil liftboat business injection

Digital marketing and advertising services provider JcbNext Bhd has disposed of a total of 581,225 shares, representing a 1.8% stake, in Taiwan-listed company 104 Corp between June 21, 2023 to Jan 3, 2024 for TW$119.86 million (approximately RM17.67 million). Following the sale, the group's shareholding in 104 Corp has been reduced to 6.17 million shares or an 18.6% stake. "Based on the disposal consideration, the expected net gain arising from the disposals is RM9.51 million," it said. JcbNext sells 1.8% stake in Taiwan-listed 104 Corp for RM17.7m, expects net gain of RM9.5m

EP Manufacturing Bhd (EPMB) announced that its subsidiary PEPS-JV (Melaka) Sdn Bhd (PJVM) has been appointed as the contract vehicle assembler for the Malaysian unit of China's Great Wall Motor Co Ltd (GWM), making it a key player in the assembly and production of selected GWM models in Malaysia for the next eight years. As part of the vehicle assembly agreement, EPMB will initially focus on assembling and producing the Haval H6, a mid-size sports utility vehicle (SUV) model, and the Haval Jolion, a compact SUV model. The assembly and production activities will be centred at the group's automotive manufacturing facility located at the Hicom Pegoh Industrial Park in Melaka. EPMB aims to achieve an annual output of 20,000 units by 2028. EP Manufacturing bags eight-year vehicle assembly contract from China's Great Wall Motor

PGF Capital Bhd plans to develop a self-sustaining integrated township with an estimated gross development value (GDV) of RM3 billion adjacent to the Automotive High-Tech Valley (AHTV) in Proton City, Tanjong Malim, Perak. The development, comprising over 6,000 residential and commercial units, would take place over 10 to 15 years on 161.87 hectares (ha) of land.The project also includes 99.27 ha for agriculture plantations, 21.61 ha for aquaculture activities, 119.58 ha for eco-tourism, 23.55 ha for an eco-retreat, and 29.02 ha for lifestyle communities, including a retirement and wellness village.The first phase of the project, with an estimated GDV of RM600 million, is expected to be launched by 2024. PGF Capital plans RM3 bil GDV development near Automotive High-Tech Valley

Meta Bright Group Bhd's conditional invitation for the Majlis Perbandaran Kemaman (MPK) to participate in the Solar PV Without Capex Program at Kijal Mall, Terengganu, has been accepted by the municipal council. The group's conditional offer letter to the municipality encompasses the design, financing, installation, construction, commissioning, operation, and maintenance of the 407.8 kilowatts peak (kWp) solar photovoltaic (PV) generating plants on the premises owned by the municipal council. The programme has a 20-year duration from the operational date of the solar PV generating plants, and the municipal council will purchase the renewable electricity generated by the plants at a fixed solar tariff rate of 36 sen per kWh. The offer letter would increase the group's order book related to sustainable renewable energy solutions to 3.81MW, marking a 12% increase in the total order book size. Kemaman council accepts Meta Bright's conditional offer to participate in solar project

Lembaga Tabung Angkatan Tentera (LTAT) is not extending the closing date for its RM1.55 per share privatisation offer for Boustead Plantations Bhd (BPlant) beyond Jan 5, 2024. Since LTAT does not intend to maintain the listing status of BPlant, Bursa Securities will suspend the trading of the plantation company's shares within five market days from the final closing date, per listing requirements, which will make it difficult for holders to trade their unlisted BPlant shares. LTAT said it has accumulated more than 90% of BPlant’s total issued shares. As at Jan 3, it owns a 92.2% stake or 2.07 billion shares. LTAT not extending closing date for BPlant takeover offer after crossing 90% threshold