KUALA LUMPUR (Jan 22): Here is a brief recap of the business news and corporate announcements that made the headlines on Thursday:

NationGate Holdings Bhd (KL:NATGATE) said on Thursday it has been cleared by tax authorities, sending its shares to the highest in over two months. The Inland Revenue Board (IRB) has completed its tax investigation into the group as part of the Malaysian Anti-Corruption Commission (MACC) and IRB joint operation on scrap metal smuggling, and found that the company’s records were in order, NationGate said. The group also said a bank account that had previously been earmarked by the MACC has since been regularised. — IRB clears NationGate in tax probe linked to MACC scrap metal smuggling operation

Lim Seong Hai Capital Bhd (KL:LSH) plans to seek shareholders’ approval to partner with executive vice-chairman Datuk Lim Keng Guan’s Besteel Engtech Sdn Bhd and inject RM484.8 million for the Morib rejuvenation project, covering the renovation of the Sri Morib Golf Club and development of a 150-acre land nearby for residential and commercial use. The total project cost is estimated at RM692.6 million. LSH plans to take 30% in the special purpose vehicles that will undertake the project. It intends to fund its portion of the cost of rejuvenation and development of RM484.8 million through a mix of internal funds and bank borrowings. — LSH Capital to seek shareholders’ approval for RM484.8m Morib project with chairman’s Besteel Engtech

Teleport Commerce Malaysia Sdn Bhd, the air logistics arm of Capital A Bhd (KL:CAPITALA), has raised US$50 million (RM202 million) in pre-initial public offering (IPO) growth capital to support its expansion ahead of a future listing. The funding was raised through the signing of a subscription agreement with funds managed by American investment firm HPS Investment Partners, involving the issuance of redeemable convertible perpetual securities (RCPS), Teleport said.The company has raised in total about US$109 million since its inception in 2018. — Capital A's Teleport raises US$50m via issue of RCPS for expansion

Cabnet Holdings Bhd (KL:CABNET), whose earnings more than halved in the first half of its financial year ending Feb 28, announced that its wholly owned Cabnet M&E Sdn Bhd (CMESB) has won two contracts for electrical system works on shops and a serviced apartment project in Johor. The combined contract value stands at RM14.8 million. CMESB  has accepted two letters of award from Haily Construction Sdn Bhd for the contracts, covering the supply, delivery, installation, testing and commissioning of electrical systems. — Cabnet bags RM14.8m electrical system work contracts

BWYS Group Bhd (KL:BWYS) will sell its leasehold industrial land with buildings in Bukit Changgang, Kuala Langat, Selangor, for RM67 million and acquire freehold industrial land in Tanjong Duabelas, Kuala Langat, for RM94.5 million. The sheet metal products manufacturer and scaffoldings supplier said the proposed Bukit Changgang property disposal enables the group to unlock the value of a non-core asset and strengthen its financial position. Meanwhile, the proposed land acquisition aligns with the group’s long-term operational and expansion plans, providing additional capacity for future development to support the construction of new manufacturing facilities and warehouses. — BWYS to sell Bukit Changgang land for RM67m, acquire Tanjong Duabelas site for RM94.5m

Mulpha International Bhd (KL:MULPHA) has subscribed to US$20 million (RM80.8 million) worth of bonds issued under Sun Hung Kai & Co (BVI) Ltd’s US$3 billion Guaranteed Medium Term Note (MTN) Programme. The property developer and hospitality group said its wholly owned subsidiary Mulpha Strategic Ltd (MSL) subscribed to the senior unsecured fixed rate notes, carrying a 6.75% annual coupon, for US$20 million. Mulpha International said the subscription forms part of its treasury and liquidity management strategy, aimed at optimising returns on cash holdings through its bond portfolio. The notes offer a higher return relative to the group’s current deposits with financial institutions, with an expected effective yield of about 9.2% based on 50% leverage. — Mulpha International invests US$20m in Sun Hung Kai bonds, expects 9.2% effective yield

Mega First Corp Bhd (KL:MFCB) is to acquire an additional 12.5% stake in packaging film subsidiary Stenta Films (M) Sdn Bhd for RM33.097 million in cash. Mega First, which already owns a 75% stake in Stenta, signed an agreement to acquire the additional shares from PT Argha Karya Prima Industry Tbk, Rentak Rimbun Sdn Bhd, Wong Kok Hwa and Ngoei Boon Liong. The higher stake in Stenta will allow the company to “secure stronger financial and strategic control over a profitable and strategically important business line, while positioning for growth in the packaging and industrial market”, Mega First said. — Mega First to raise stake in packaging film subsidiary for RM33m

KomarkCorp Bhd (KL:KOMARK) has proposed a share capital reduction of RM148.7 million to offset its significant accumulated losses. The exercise will allow the self-adhesive label and face mask manufacturer to rationalise its financial position by eliminating accumulated losses, thereby enhancing its credibility with bankers, customers, suppliers and investors, the company said. At the group level, KomarkCorp recorded accumulated losses of RM118.36 million as at end-September 2025. Following the capital reduction, the group will have retained earnings of RM30.34 million. At the company level, its accumulated losses stood at RM148.76 million, which will be slashed to just RM59,327 with the capital reduction. — KomarkCorp plans RM148.7m capital reduction to eliminate losses

Fertility care company Alpha IVF Group Bhd (KL:ALPHA) has reported a 20.5% decline in second-quarter earnings despite higher revenue, as pre-operational costs tied to its ongoing expansion weighed on profitability. Net profit for the quarter ended Nov 30, 2025, fell to RM12 million from RM15.1 million a year earlier, while revenue rose 9.4% to RM47.3 million from RM43.24 million. The weaker earnings were mainly attributed to administrative expenses, which surged to RM10.95 million from RM7.06 million. The company declared a first interim dividend of half a sen per share for the financial year ending May 31, 2026 (FY2026), payable on March 31. — Alpha IVF posts lower 2Q earnings amid expansion drive

Sentral REIT’s (KL:SENTRAL) manager Sentral REIT Management Sdn Bhd has appointed Tay Hui Ling as acting CEO effective Jan 22, with her appointment to be formalised once the Securities Commission approves it. Her predecessor, vice-chairman of the Malaysian REIT Managers Association Teh Wan Wei, stepped down as Sentral REIT’s CEO in September last year. Teh was appointed CEO of Sunway REIT in December 2025. Tay, 49, was previously head of funds management for Singapore, Vietnam and Malaysia for LOGOS (ESR Group), overseeing multiple logistics fund portfolios with assets under management of about US$2.5 billion. — Tay Hui Ling to be new CEO of Sentral REIT 

DXN Holdings Bhd (KL:DXN), a direct-selling company specialising in consumer health and wellness products, is exploring potential investments of up to US$50 million (RM202.41 million) in Brazil as it seeks to boost its presence in Latin America, its largest market. The group has signed a memorandum of understanding (MOU) with Brazil’s trade and investment promotion agency Apex-Brasil. The MOU provides a framework for preliminary discussions covering investment facilitation, agriculture-related production and market access as DXN assesses opportunities in Brazil. Apex-Brasil will support the group by providing information on investment procedures, regulatory frameworks, potential industrial and agricultural sites and available incentives, as well as connecting DXN with prospective partners for Ganoderma and mushroom-based product development in Brazil. — DXN explores US$50m investment in Brazil