KUALA LUMPUR (Jan 21): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Sunway Bhd (KL:SUNWAY) said it is proceeding with its takeover offer for IJM Corp Bhd (KL:IJM), which is currently involved in an ongoing probe by the Malaysian Anti-Corruption Commission. The assurance comes as analysts flagged potential delays and even calling off of the takeover offer, which was initially targeted for completion in the third quarter of this year. — Amid MACC probe into IJM, Sunway presses on with takeover offer

Meanwhile, IJM Corp Bhd (KL:IJM) said access to less than 10 of company bank accounts have been restricted by the MACC, and the move has no impact on the group’s day-to-day business operations. An earlier Bernama report quoted an MACC source as saying the agency had frozen 55 private and IJM-linked bank accounts involving an estimated RM15.8 million. — IJM says less than 10 bank accounts frozen by MACC, no impact on ops

Oil and gas services and equipment (OGSE) firm Carimin Petroleum Bhd (KL:CARIMIN) has acquired a 19.5% stake in vessel builder Sealink International Bhd (KL:SEALINK) at above market price for RM39.98 million, making it the largest shareholder in the offshore marine services group. Carimin purchased 97.5 million shares from Sealink's executive chairman Lo Ling via a direct business transaction at 41 sen per share, compared with its closing price of 30.5 sen. Carimin said the transaction is purely investment-driven, with no immediate plans to participate in Sealink’s operations, although potential future collaboration in vessel operations and maintenance services may be explored. — Carimin buys 19.5% stake in Sealink above market price, now largest shareholder 

SMRT Holdings Bhd (KL:SMRT) said only its one-off deployment revenue may face a potential slowdown amid rising competition, while existing long-term managed services contracts with Tenaga Nasional Bhd (TNB) (KL:TENAGA) remain unaffected and continue to be the group’s largest revenue contributor. The clarification came after a sharp selldown that saw the IT solutions provider's shares plunge as much as 65% on Monday, after HLIB Research flagged significant earnings reset due to reduced deployment work from TNB. “The company’s existing managed services contracts with its major customer remain in place and continue to generate recurring revenue,” SMRT said, and that any possible slowdown only relates to future one-off deployments. — SMRT clarifies TNB contracts unaffected, possible slowdown only in new deployments

Binastra Corporation Bhd (KL:BNASTRA) has secured a RM742.9 million contract for the main building works of a high-rise development in Johor Bahru. The contract, inclusive of a RM20 million contingency sum, involves a 72-storey serviced apartment development comprising three towers with a total of 2,743 units. The contract lifted its total new contract wins for the financial year to RM4.2 billion, exceeding its full-year target and pushing its outstanding order book to a record RM6.6 billion. — Binastra wins RM742.9m high-rise development job in Johor Bahru, lifting order book to record RM6.6b

Reneuco Bhd (KL:RENEUCO) said Tenaga Nasional Bhd (KL:TENAGA) has terminated the power purchase agreement (PPA) between the two companies, with the Practice Note 17 company liable to pay a delay penalty of RM45 million to the national electricity utility. Reneuco said the termination notice stated that the group's 95%-owned subsidiary PKNP Reneuco Suria Sdn Bhd (PRSSB) — operator of a 50MWac solar farm project in Pekan, Pahang — had failed to achieve commercial operation within 180 days of the extended deadline of Sept 29, 2024. — Reneuco faces RM45m liability as TNB terminates solar PPA

Sabah-based port operator Suria Capital Holdings Bhd (KL:SURIA) has appointed former Kota Belud Member of Parliament (MP) Datuk Seri Abdul Rahman Dahlan as its new independent and non-executive chairman, effective Wednesday (Jan 21). His predecessor, Datuk Faisyal Yusof Hamdain Diego, resigned on the same day “to pursue other interests”, after over five years of service. Abdul Rahman, 61, also served as the minister of urban wellbeing, housing and local government (2013 to 2016) and later a minister in the Prime Minister's Department overseeing the Economic Planning Unit (2016 to 2018). — Suria Capital names former Kota Belud MP Abdul Rahman as chairman

Elridge Energy Holdings Bhd (KL:ELRIDGE) is expanding its regional biomass fuel footprint by securing a one-year biomass fuel supply agreement with Thailand-based Berkana Power Company Ltd. Under a memorandum of understanding signed on Wednesday (Jan 21), Elridge's wholly owned Bio Eneco Sdn Bhd will deliver an estimated 100,000 tonnes of biomass fuel for a year to Berkana Power via 10 shipments. The deal comes with an automatic renewal option, subject to mutually agreed terms. — Elridge Energy expands Thai footprint with 100k-tonne biomass supply deal 

KIP Real Estate Investment Trust (KL:KIPREIT) net property income (NPI) rose 49.9% in the second quarter from a year earlier, bolstered by new assets. NPI for the three months ended Dec 31, 2025 (2QFY2026) rose to RM32.41 million from RM21.62 million a year earlier, mainly driven by the performance of the DPulze Shopping Centre in Cyberjaya and KIPMall Desa Coalfields in Sungai Buloh. The retail-centric REIT’s revenue rose 44.9% to RM43.47 million from RM30 million previously. It declared a distribution per unit of 1.7 sen for the quarter, payable on March 3. — KIP REIT’s 2QFY2026 NPI rises nearly 50%, sees well-supported 3Q

Pantech Global Bhd (KL:PGLOBAL) reported a flat net profit for its third quarter as an uptick in revenue was offset by rising operating expenses. Net profit for the three months ended Nov 30, 2025 (3QFY2026) came in at RM12.5 million, little changed from RM12.47 million a year ago. Quarterly revenue rose 4.58% to RM127.47 million from RM121.89 million but operating expenses grew 5.7% to RM111.63 million from RM105.61 million. No dividend was declared for the quarter. — Pantech Global's 3Q earnings flat as rising costs offset revenue growth