KUALA LUMPUR (March 4): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

The Malaysian Anti-Corruption Commission has opened an investigation paper linked to Sunway Bhd’s (KL:SUNWAY) ongoing takeover offer for IJM Corp Bhd (KL:IJM). The anti-graft agency is looking at whether there is an element of corruption, abuse of power or violation of governance. — Sunway's ongoing takeover offer for IJM under MACC investigation, says Azam Baki

NexG Bhd (KL:NEXG) saw Raya Aviation Holdings, parent of cargo carrier Raya Airways, become its largest shareholder after taking control of two private companies tied to NexG’s current and former executives. Raya Aviation now holds 711.7 million shares, or a 20.4% stake in NexG, following its takeover of Skyelimit Alliance Sdn Bhd (561.7 million shares, 16.1%) and Trendtrove Tradin Sdn Bhd (150 million shares, 4.3%). — Raya Airways parent now NexG’s biggest shareholder after taking over two exec-linked firms

Jati Tinggi Group Bhd (KL:JTGROUP) has bagged a contract worth RM79.86 million from Tenaga Nasional Bhd (KL:TENAGA) to lay 275 kilovolts double circuit underground cables for connection to a data centre in Pasir Gudang, Johor. The contract will take 270 days to complete from a commencement date to be determined later. — Jati Tinggi bags RM80 mil TNB contract to lay cables for data centre connection

Velesto Energy Bhd (KL:VELESTO), via subsidiary Velesto Workover Sdn Bhd, has secured two contracts from Sabah Shell Petroleum Company Ltd (SSPC) to provide maintenance services at its deepwater operations offshore Sabah. Velesto Workover will provide comprehensive maintenance services for the top tension risers at SSPC’s Tension Leg Platform, in which the works will be carried out in partnership with its principal, INVX Asia Pacific Pte Ltd. The value of the contract was not disclosed. — Velesto secures multi-year maintenance contracts from Sabah Shell Petroleum

Wasco Bhd (KL:WASCO) saw Urusharta Jamaah Sdn Bhd, a special purpose vehicle under the Ministry of Finance, cease to be its substantial shareholder. Urusharta's shareholding in Wasco fell below the 5% disclosure threshold after disposing of 1.17 million shares, equivalent to a 0.151% stake, on Feb 27, trimming its total stake in Wasco to 4.935%. — Urusharta Jamaah ceases to be substantial shareholder in Wasco

Exsim Hospitality Bhd (KL:EXSIMHB) announced a partnership with developer Majestic Gen to introduce professionally-managed accommodation in selected developments nationwide, with a potential pipeline of over 3,000 keys over the next four years. The collaboration will see Exsim Hospitality’s hospitality brand, Mana Mana Hospitality, appointed as the operator for selected projects within Majestic Gen’s portfolio. — Exsim Hospitality partners with Majestic Gen to expand managed accommodation pipeline