KUALA LUMPUR (July 4): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

WCT Holdings Bhd (KL:WCT) has secured a RM365.22 million construction job to build additional lanes for the Sedenak-Simpang Renggam section of the Yong Peng-Senai stretch of the North-South Expressway (PLUS) project in Johor. The contract, awarded by Projek Lebuhraya Usahasama Bhd, was accepted by WCT’s wholly owned subsidiary WCT Bhd on Tuesday (July 1). The project kicks off on July 28 and will be completed within three years. — WCT bags RM365m PLUS highway expansion contract in Johor

Mesiniaga Bhd (KL:MSNIAGA) has secured a RM148 million contract to supply, deliver, install, test and commission a new pension system for Retirement Fund Inc (KWAP). The contract includes an optional support and maintenance package worth RM64.51 million during the fifth to eighth years. The project is scheduled for completion in July 2028, while the optional support and maintenance package will run until July 2033. — Mesiniaga secures RM148m contract from KWAP for new pension system

Kim Hin Industry Bhd (KL:KIMHIN) is set to be taken private after its chairman Chua Seng Huat and his family investment vehicle Kim Hin (M) Sdn Bhd offered RM45 million to buy out the ceramic tile manufacturer, or by offering 85 sen per share for the remaining shares they don’t already own in Kim Hin. The offer price represents a premium of nearly 85% over Kim Hin’s last traded price of 46 sen on July 3. Shareholders will have until July 25 to consider the offer. —  Kim Hin gets privatisation offer of 85 sen per share from chairman, family

Engineering support services provider Edelteq Holdings Bhd (KL:EDELTEQ) is expanding into the upstream semiconductor segment with a proposed 24% stake buy in Solid Point Precision Manufacturing Sdn Bhd for RM20.74 million, using a mix of cash and shares. A 6.72% stake in Solid Point Precision will be acquired from Singapore-based LIPO Precision Industry Pte Ltd for RM5.81 million in cash, and another 17.28% stake will be acquired via the issuance of new shares in Solid Point for RM14.93 million. Solid Point Precision is involved in the manufacturing of precision machining components and parts for the semiconductor industry. — Edelteq to diversify into precision component manufacturing with 24% stake buy in Solid Point for RM20.7m

Sabah-based palm oil group Kretam Holdings Bhd (KL:KRETAM) has appointed Chiong Li Wei, the son of its new substantial shareholder Chiong Kiau, as its executive director, effective Friday. Kiau recently emerged as the second-largest shareholder of Kretam through his private vehicles Kahang Palm Oil Mill Sdn Bhd and Jeng Huat (Bahau) Realty Sdn Bhd, which cumulatively own a 10% stake in the group. Kiau also has a 0.02% direct stake in the group. — Kretam appoints new substantial shareholder's son as ED

Green Packet Bhd (KL:GPACKET) has a new substantial shareholder in Labuan-licensed investment bank European Credit Investment Bank Ltd. The investment bank acquired 141.09 million shares or a 5.771% stake in the smart property devices and payment solutions firm via open- and off-market transactions on Thursday (July 3). The price at which the shares were purchased was not disclosed. However, based on Green Packet's closing share price of four sen on July 3, the block is valued at RM5.64 million. — Labuan-licensed investment bank emerges as substantial shareholder in Green Packet

Mudajaya Group Bhd (KL:MUDAJYA) plans to raise up to RM25.96 million by issuing 265.74 million new shares (10% of its enlarged share capital) through a private placement. The money will help repay part of its bank borrowings, which totalled RM644.49 million as of June 24, 2025. The final price isn't fixed yet, but based on an example price of 8.14 sen per share (about 10% below the recent average market price of 9.04 sen), the placement could raise up to RM25.96 million. — Mudajaya to raise RM25.96 mil via private placement to cut debt

MN Holdings Bhd (KL:MNHLDG), an infrastructure utilities construction and engineering solutions group, has secured a RM29.3 million contract from national electric utility firm Tenaga Nasional Bhd (KL:TENAGA). The contract was awarded to its wholly owned subsidiary, MN Power Transmission Sdn Bhd, for the extension of new transformer bays at the existing transmission main intake at the Tanjung Langsat Industrial Estate in Johor. The contract took effect on Thursday (July 3), with a completion period of 540 days. — MN Holdings secures RM29.3m extension of transformer bay contract from Tenaga