KUALA LUMPUR (Jan 2): Here is a brief recap of the key business news on Friday:

Pekat Group Bhd’s (KL:PEKAT) 60%-unit, EPE Switchgear (M) Sdn Bhd, has secured an order worth RM113.3 million for medium-voltage power distribution equipment. EPE Switchgear will be supplying Tenaga Nasional Bhd (KL:TENAGA) with 11-kilovolt motorised ring main units — medium-voltage switchgear used to control power flows — along with interconnectors and remote control boxes under the two-year contract. — Pekat Group bags RM113 mil contract to supply power distribution equipment

ENRA Group Bhd's (KL:ENRA) unit, Hamptons Homes Sdn Bhd, has entered into two unincorporated joint venture agreements with Entire Role Sdn Bhd to develop residential double-storey medium-cost terrace houses on 2.19 hectares of land in Kulai, Johor with an estimated gross development value of RM101.26 million. The proposed joint venture is expected to commence in the first quarter of 2026, with each phase to be implemented over a 36-month period. — ENRA unit to develop RM101.26 mil residential project in Johor via joint venture

Go Hub Capital Bhd (KL:GOHUB), a transport IT solution provider, has proposed to raise up to RM21.2 million via a private placement of 10% of its enlarged share base to fund four new projects. Go Hub is currently the technology partner behind Keretapi Tanah Melayu Bhd’s (KTMB) centralised ticketing system and automated fare collection. The company said RM15 million will fund new railway and terminal projects, RM6 million will go to working capital, while the rest will cover related expenses. — Go Hub proposes RM21.2m private placement to fund four new projects

Theta Edge Bhd (KL:THETA) saw a big 27.28% stake change hands via an off-market trade on Friday, signalling a major shift in the company's shareholding structure. The shares were traded in a single block totalling 32.18 million shares at 90 sen apiece, Bloomberg’s off-market data showed. While an official filing with Bursa Malaysia has yet to be released in regard to the disposal, the transaction size aligns with the shareholding of Theta Edge’s largest shareholder, Lembaga Tabung Haji. — Theta Edge sees 27% stake offloaded at 23% premium, Tabung Haji likely seller

Omesti Bhd (KL:OMESTI) saw Teguh Sedaya Sdn Bhd become its largest shareholder after the company acquired an additional 8.5% stake. The purchase bumped up Teguh Sedaya’s total stake in Omesti to 22.57%, overtaking company founder Datuk Mah Siew Kwok, who now becomes the second-largest shareholder with a 15.8% direct stake. Teguh Sedaya is 70%-owned by Yasmin Hanim Arbee Mohammed Isa Arbee and 30% by Nur Atisya Mohd Yunus, based on a check with the Companies Commission Malaysia. — Teguh Sedaya now Omesti's largest shareholder

Suria Capital Holdings Bhd (KL:SURIA) has appointed Datuk Ahmad Rizal Dahli as its group managing director, effective Jan 1, 2026. Ahmad Rizal, previously a non-independent non-executive director, replaces Datuk Ng Kiat Min following the conclusion of the latter’s service contract on Dec 31, 2025. — Suria Capital appoints Ahmad Rizal as group managing director

Vetece Holdings Bhd (KL:VTC) has secured a RM12.6 million contract from a “leading Malaysian utility company” to provide human capital management cloud software subscription. The contract is to be delivered over four years, with the contract expected to contribute positively to Vetece's earnings over the period. — Vetece gets RM12.6m software contract from local utility company