KUALA LUMPUR (July 22): Here is a brief recap of the key corporate announcements and developments on Tuesday:

Pavilion Real Estate Investment Trust (KL:PAVREIT) cautioned that its operating margins may come under pressure due to higher service taxes on commercial rentals, minimum wage hikes, and ongoing subsidy rationalisation. For the second quarter ended June 30, 2025 (2QFY2025), the trust’s net property income rose 8.2% year-on-year to RM129.83 million, supported by higher contributions from Pavilion Bukit Jalil and advertising revenue from Elite Pavilion Mall. Quarterly revenue grew 6% to RM213.34 million, driven by improved occupancy rates and additional income from exhibition and advertising spaces at Pavilion Bukit Jalil. It declared an interim income distribution of 0.32 sen per unit, amounting to RM12.5 million, payable on Aug 27. — Pavilion REIT’s 2Q net property income up 8%, but flags margin pressure

Tenaga Nasional Bhd (KL:TENAGA) has received High Court approval to initiate a judicial review against the Inland Revenue Board over a RM291.55 million tax assessment for FY2018. The court also granted an interim stay of enforcement against its subsidiary TNB Western Energy Bhd, pending the review’s outcome. — After losing RM1 bil tax dispute, Tenaga granted judicial review of another RM291 mil assessment

Jati Tinggi Group Bhd (KL:JTGROUP) secured a RM19.41 million contract from Tenaga Nasional Bhd (KL:TENAGA) for submarine cable works in Perak via a 70:30 joint venture. Including this award, the group has clinched RM192.68 million in new projects since December 2024. — Jati Tinggi wins submarine cable contract from TNB

Pestec International Bhd (KL:PESTEC) is facing a RM17.52 million lawsuit from its former group CEO Paul Lim Pay Chuan and ex-deputy chairman Lim Ah Hock over alleged unpaid advances. The legal action follows their recent removal from executive roles amid an ongoing leadership tussle. Paul Lim was removed as group CEO last Friday, after reportedly refusing to return to work despite reconciliation efforts by the Selangor Industrial Relations Department. The dispute comes in the wake of Dhaya Maju Infrastructure (Asia) Sdn Bhd emerging as Pestec’s controlling shareholder late last year. — Pestec sued by ex-CEO, former deputy chairman over alleged unpaid advances days after demotion

Majuperak Holdings Bhd’s (KL:MJPERAK) RM18.4 million proposed disposal of Brewster Village to Ladang Lekir Sdn Bhd was terminated due to unmet conditions. The deal was part of its business regularisation plan. Majuperak remains an affected issuer and aims to submit its revised plan by Oct 11. — Majuperak’s Brewster Village sale to Ladang Lekir falls through

HI Mobility Bhd (KL:HI) confirmed that several drivers operating its Causeway Link services staged a strike following recent wage cuts. According to news reports, some drivers refused to ferry passengers at the Johor-Singapore Causeway early Monday morning. The company said it is in talks to reach a fair resolution for all parties involved. — HI Mobility's Causeway Link confirms driver walkout at Johor-Singapore Causeway, says it is working to resolve issue

Labuan-based European Credit Investment Bank Ltd (ECIB) has emerged as the third-largest shareholder in Oasis Harvest Corp Bhd (KL:OASIS) after acquiring 1.39 million shares, or a 5.78% stake, via open market purchase on July 18. Based on Friday’s closing price of 24 sen, the block is valued at approximately RM334,272. Early this month, the investment bank also bought a 5.77% stake in smart devices and payment solutions firm Green Packet Bhd (KL:GPACKET). — After Green Packet, Labuan-based firm now acquires substantial stake in Oasis Harvest

UUE Holdings Bhd (KL:UUE) has signed a memorandum of understanding with ASEAN Cableship Pte Ltd to explore a joint venture offering horizontal directional drilling (HDD) solutions for offshore telecommunications and infrastructure projects in Malaysia and Singapore. Both parties will assess collaboration opportunities over a six-month period. — UUE Holdings partners ASEAN Cableship for telecom, infrastructure projects’ offshore drilling services in Malaysia, Singapore

SL Innovation Capital Bhd (KL:SLIC) has deferred its proposed transfer from the LEAP Market to the ACE Market, citing prevailing market uncertainties. The group, which provides IT infrastructure and enterprise software solutions, initially announced the plan in June 2023. — SL Innovation postpones plan to transfer to ACE Market