KUALA LUMPUR (Feb 13): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Ekovest Bhd (KL:EKOVEST) has secured approval from the Employees Provident Fund (EPF) for a one-year extension to implement its exit plan from Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), the concessionaire of the Duta-Ulu Kelang Expressway (Duke). Ekovest sold a 40% stake in Kesturi to the EPF for RM1.13 billion in 2017, with an exit event set as a listing or trade sale within five years, extendable automatically by two years, which ended on Feb 13, 2024. A previous extension added two more years; this latest approval adds another year until Feb 13, 2027. — EPF grants Ekovest one-year extension to exit Duke highway stake

Tenaga Nasional Bhd (KL:TENAGA) has emerged as the biggest winner in the government’s bidding exercise for new gas power plants and extension of operations for existing ones. A consortium between Tenaga and Aurora Power Generation Sdn Bhd bagged the win with its proposed 1,400MW combined cycle power plant in Paka, Terengganu. For operations for existing power plants, three power plants linked to Tenaga has secured PPA extensions until Dec 31, 2029, namely the Gelugor power plant in Penang (310MW), Putrajaya power plant (249MW), and Tuanku Ja’afar power plant (PD1) in Port Dickson (703MW). Malakoff Corp Bhd (KL:MALAKOF), as announced previously, secured an extension for three plants held by Segari Energy Ventures Sdn Bhd in Perak (1,303MW), GB3 Sdn Bhd, also in Perak (429MW), and Prai Power Sdn Bhd in Penang (350MW), also until Dec 31, 2029. — Tenaga biggest winner in Energy Commission’s gas power plant bid; Edra, PETRONAS’ plant operations extended

Ahmad Zaki Resources Bhd (KL:AZRB) has secured a contract worth RM430.06 million in Cameron Highlands involving the construction of a bypass and the upgrading of federal roads. The project covers the construction of the Tanah Rata bypass, the upgrading of Federal Route FT59 from Tanah Rata to Kea Farm and the upgrading of Federal Route FT434 (Jalan Griddle). The 42-month contract, awarded by the Public Works Department, is the engineering and construction company's first of the year. — AZRB lands Cameron Highlands bypass project worth RM430m

99 Speed Mart Retail Holdings Bhd (KL:99SMART) closed its financial year ended Dec 31, 2025 with a record net profit of RM614.2 million, a 25.3% rise from a year earlier, on the back of its new stores and strong consumer spending on daily essentials, supported by various government social assistance initiatives. Revenue climbed 14.5% to RM11.43 billion from RM9.98 billion. Net profit for the fourth quarter rose 26.3% to RM157.16 million from RM124.42 million a year earlier, as quarterly revenue increased 19% to RM3.08 billion from RM2.58 billion. No dividend was declared for the final quarter. — 99 Speed Mart to continue expansion after new stores fuel FY2025 record earnings

MNRB Holdings Bhd’s (KL:MNRB) net profit for the third quarter ended Dec 31, 2025 rose 30.3% to RM151 million from RM115.9 million a year earlier, driven by improved contributions across all business segments. Revenue rose 17.8% year-on-year to RM973.9 million from RM826.4 million. No dividend was announced for the quarter. — MNRB’s 3Q profit surges over 30% as all segments lift

Paramount Corporation Bhd’s (KL:PARAMON) net profit for FY2025 rose 16% to RM118.82 million from RM102.45 million a year earlier. Revenue eased 9% to RM946.87 million from RM1.04 billion previously. Net profit for 4QFY2025 rose to RM57.6 million from RM54.12 million, despite a 29% drop in quarterly revenue to RM257.96 million from RM361.09 million previously. The group declared a second interim dividend of 4.5 sen per share. — Paramount's FY2025 net profit up 16% to RM118.82 mil

The youngest son of billionaire investor Tan Sri Chua Ma Yu, Chua Ray-Men, has emerged as a substantial shareholder in transport IT solutions company Go Hub Capital Bhd (KL:GOHUB). Ray-Men increased his stake to 6.76% following an acquisition of 12.88 million shares, representing a 2.93% stake, via a direct business deal. The move comes just a day after Ray-Men entered into an agreement to sell his 3.03% interest in Woodpeckers Group Sdn Bhd — the master franchisee of the IIlaollao frozen yogurt chain — to Hextar Industries Bhd (KL:HEXIND) for RM10.57 million. It is a part of a larger deal by Hextar Industries to acquire a 51% interest in Woodpeckers for RM177.5 million. — Billionaire Chua Ma Yu's son Ray-Men emerges as substantial shareholder in Go Hub

NexG Bhd (KL:NEXG) has appointed a new auditor, PKF PLT, after an earlier choice to replace outgoing Baker Tilly Monteiro Heng PLT, SBY Partners PLT, declined the appointment. PKF consented to act as auditors for the company in a letter dated Feb 13. — NexG names new auditor after Baker Tilly replacement declines appointment

Trading of Scientex Packaging (Ayer Keroh) Bhd (KL:SCIPACK) shares will be suspended from Feb 27, as its major shareholder, Scientex Bhd (KL:SCIENTX), moves to take the company private via a selective capital reduction. Shareholders approved Scientex’s plan to privatise the company in November 2025. The plan offers RM1.50 per share. — Trading of Scientex Packaging shares to be suspended from Feb 27

KIP Real Estate Investment Trust (KL:KIPREIT) will fund a RM160 million expansion of AEON Mall Kinta City in Perak to secure a 25-year lease from AEON Co (M) Bhd (KL:AEON). The project is expected to be completed by the fourth quarter of 2027. The mall’s leasable space will grow 27% to 675,000 sq ft and net lettable area by 30% to 580,000 sq ft, with upgraded facilities and tenant mix. — KIP REIT to fund RM160 mil Kinta City Mall expansion, securing 25-year lease with AEON

Solarvest Holdings Bhd (KL:SLVEST) plans to more than double its generation capacity in the next two years, as declining battery costs enable further deployment of renewables. The company, with around 1.2 gigawatts (GW) of capacity, is set to scale up another 2GW through next year enabled by a decline in prices of battery systems, which now cost between US$90 to US$100 per kilowatt-hour (kWh) in the country, down from as much as US$230 per kWh about a year ago, its chief executive officer Datuk Davis Chong said. — Solarvest to ramp up output as battery prices drop

Berjaya Land Bhd (KL:­BJLAND) said it will change its name to Berjaya Property Bhd after shareholders approved the proposal at an extraordinary general meeting on Friday. The rebranding reflects its strategic evolution and sharper focus on property as its core business, it said. — Berjaya Land to be renamed Berjaya Property after shareholder approval

GDB Holdings Bhd (KL:GDB) is acquiring three parcels of leasehold land in Kuching for RM32.72 million, marking its expansion into property development in Sarawak. The parcels comprise two plots totalling 1.17 hectares in the Kuching Central district, and 1.021 hectares in the Muara Tebas district. The group is planning to build a phased mixed-use development on the plots, comprising serviced apartments, small office/home office units, retail components and anchor tenants, supported by facilities and car parks. — GDB enters Sarawak property market with RM32.72m land purchase

Mayu Global Group Bhd (KL:MAYU) said a RM24 million compound imposed on its 80%-owned unit Sunrise Manner Sdn Bhd was linked to a money laundering investigation involving Tang Thiam Hock, a director and 20% shareholder of the unit. The notice was served on Jan 21 and relates to investigations into alleged offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. — Mayu Global says RM24m police compound linked to money laundering probe

Khee San Bhd (KL:KHEESAN) said it will again seek shareholders' nod for its proposed share capital reduction exercise, part of the group's regularisation plan to exit its Practice Note 17 status, which had been approved in October 2024. The step is necessary to comply with the Companies Act, it said, which requires the resolution to take effect within seven days from approval. — Khee San to seek shareholders' nod again for share capital reduction

Catcha Digital Bhd (KL:CATCHA) has terminated its proposed RM34.96 million cash acquisition of a 92.5% stake in financial service firm Theta Service Partner Sdn Bhd, citing unsatisfactory findings during its due diligence review. Following the termination, Catcha Digital said it will reallocate RM5.73 million — part of the proceeds from a previous rights issue that were originally earmarked to fund this deal — towards future acquisitions or collaborations. — Catcha Digital scraps RM35 mil acquisition of Theta Service Partner