KUALA LUMPUR (Jan 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

AirAsia X Bhd (KL:AAX) has appointed Tharumalingam Kanagalingam, better known as Bo Lingam, as its new group chief executive officer (CEO), effective immediately. The decision comes on the heels of the completion of the group’s acquisition of AirAsia Bhd (AAB) and AirAsia Aviation Group Ltd (AAAGL) from Capital A Bhd (KL:CAPITALA), consolidating all AirAsia-branded airline operations under a single listed entity. Benyamin Ismail, having helmed AAX as CEO since Sept 1, 2015, has been redesignated as general manager. — AirAsia X names Bo Lingam group CEO, announces top management changes

IJM Corp Bhd (KL:IJM) said officers from the Malaysian Anti-Corruption Commission (MACC) and the Inland Revenue Board were present at the company’s office on Monday to "obtain information as part of their process". IJM said it is cooperating fully with the authorities and assured that its business operations "are continuing as usual". When contacted, MACC chief commissioner Tan Sri Azam Baki confirmed an investigation into the company is ongoing. — IJM says MACC, IRB officials gathered info at its office, operations continuing as usual

Favelle Favco Bhd (KL:FAVCO) has secured three new contracts to supply tower and offshore cranes worth a combined RM76.3 million. The group said the orders were awarded to its wholly-owned subsidiaries, Favelle Favco Cranes Pty Ltd and Favelle Favco Cranes (M) Sdn Bhd. Delivery of the cranes is scheduled by end-2026 and the first quarter of 2027. — Favelle Favco wins three crane deals worth RM76m

OpenSys (M) Bhd (KL:OPENSYS) has secured a RM22.05 million order to supply new cash recycling machines (CRMs). The group said the customer is Reachful Malaysia Sdn Bhd, a financial technology and services firm specialising in the deployment and operation of CRMs. Delivery will be carried out in tranches, with full completion targeted by Dec 31, 2026. — OpenSys clinches RM22m order for cash recycling machines

Reservoir Link Energy Bhd (KL:RL) has secured a contract from Hibiscus Oil & Gas Malaysia Ltd to provide third-party subsurface review and technical assurance services for the PM3 CAA carbon capture and storage (CCS) project. The energy-related services provider said the contract was awarded to its 60%-owned subsidiary, Reservoir Link Solutions Sdn Bhd, and is effective for a period of two years from the date of award. Under the contract, Reservoir Link will conduct an independent review of the CCS study, covering subsurface workflows and methodologies, data inputs and assumptions, static and dynamic modelling, as well as technical analysis and interpretation. The value of the contract was not disclosed. — Reservoir Link secures technical review contract for Hibiscus Oil & Gas carbon capture and storage project

Alliance Bank Malaysia Bhd (KL:ABMB) does not see a need for any merger and acquisition (M&A) and intends to continue growing organically, according to its group CEO Kellee Kam. He clarified however, that he is unaware of any such talks. His comments come amid reports that Singapore’s DBS Bank Ltd remains keen to buy a significant stake in one of the smallest lenders in the country. A local news report recently said that DBS’ efforts to acquire an about 29.06% stake in Alliance Bank from its largest shareholder, Vertical Theme Sdn Bhd, are facing challenges in securing approval from Bank Negara Malaysia. It said that DBS has so far secured approval to acquire Temasek’s indirect stake in Alliance Bank, amounting to an effective ownership of about 14.24%. — Alliance Bank CEO says it can grow organically without M&A

Malayan Cement Bhd (KL:MCEMENT) said its largest shareholder, YTL Cement Bhd, has disposed of 82.41 million shares — representing a 5.95% stake — confirming an earlier report by The Edge. The group said the block of shares was sold via a direct business deal, though the transaction price was not disclosed. The Edge previously reported that a term sheet indicated YTL Cement was selling the shares at RM7.55 apiece, reflecting a 2.94% discount to the one-day volume-weighted average price (VWAP) and a 3.61% discount to the five-day VWAP. Following the sale, YTL Cement’s stake in Malayan Cement has been reduced to 59.25%, while Prudential plc remains the second-largest shareholder with an 8.43% stake. — YTL Cement trims 5.95% stake in Malayan Cement, confirms The Edge report

Teladan Group Bhd (KL:TELADAN) has launched the Bukit Intan Commercial Centre in Seremban, marking its first project outside its home base of Melaka. The freehold commercial development signals the group’s strategic expansion into higher-growth markets beyond its traditional footprint. Located within the Greater Klang Valley, the development is accessible via the North-South Expressway and positioned to serve the growing commercial demand in Negeri Sembilan. — Teladan makes first foray outside Melaka with launch of Bukit Intan Commercial Centre