KUALA LUMPUR (June 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Tan Sri Vincent Tan Chee Yioun has reduced his stake in Berjaya Corporation Bhd (KL:BJCORP) and ceased to be a substantial shareholder in six listed companies. The shares sale was carried out via direct business transactions last Thursday (May 28) and saw Tan dispose of a combined 461.65 million shares in Berjaya Corp across seven tranches, comprising both direct and deemed interests for about RM115 million. Following the disposals, his direct stake in Berjaya Corp stands at 4.11%, while his deemed interest has been pared to 10.96%, bringing his total shareholding to approximately 15.08% or 896.33 million shares of Berjaya Corp’s 5.95 billion outstanding shares. — Vincent Tan cuts Berjaya Corp stake for at least RM115m, exits substantial shareholder list in six firms

PPB Group Bhd (KL:PPB) has redesignated its non-independent non-executive director Datuk Kuok Meng Xiong as group managing director, effective Sept 1. Kuok, 45, will succeed Lim Soon Huat, who will retire from his role after 14 years with the group. As part of its board succession plan, Lim will be appointed adviser to the board. Separately, PPB announced the appointment of Jeremy Goon as a non-independent non-executive director, effective June 4. Goon is a director and CEO of FFM Bhd, an 80%-owned subsidiary of PPB. — PPB group MD Lim Soon Huat to retire, director Kuok Meng Xiong to take over

RGB International Bhd (KL:RGB) has secured a vendor licence from the United Arab Emirates that allows it to sell electronic gaming machines. The application submitted about a year ago has been recently approved by the Emirates’ authorities, according to RGB International executive director Ganaser Kaliappen. The company has also paid processing fees of around RM10,000 ahead of the issuance of the formal licence, he noted. The development is significant for RGB International, putting the company in an early position ahead of the expected rollout of the Emirates’ first legal casino located at the Wynn Al Marjan Island in 2027. — RGB International secures UAE gaming vendor licence, eyes Middle East expansion

Vantris Energy Bhd's (KL:VANTNRG) latest accounts have been cleared by its external auditors, marking the oil and gas services firm’s first clean audit outcome in four years. Ernst & Young PLT has issued an unqualified audit opinion with no material uncertainty related to going concern on the company’s audited financial statements for the financial year ended Jan 31, 2026 (FY2026). Vantris Energy shrank its total borrowings to RM5.5 billion during the past financial year from about RM10.8 billion following the approval of its regularisation plan. The company also fixed its balance sheet and now has total assets exceeding its liabilities by about RM3.0 billion. — Auditors clear Vantris Energy’s FY2026 accounts

Willowglen MSC Bhd (KL:WILLOW) has secured two contracts in Singapore worth a combined RM46.56 million for power grid monitoring systems and security system installation works. The engineering and industrial automation solutions provider said its wholly owned subsidiary Willowglen Services Pte Ltd had secured a RM39.42 million contract from SP PowerAssets Ltd for the refresh of DMS partial discharge monitoring systems. Separately, Willowglen said the same subsidiary had also secured a RM7.14 million contract from Kim Seng Heng Engineering Construction (Pte) Ltd for the supply of labour, materials and equipment for security system installation works, including cable containment, power provision, testing and commissioning. — Willowglen bags two contracts in Singapore for grid monitoring, security systems worth RM46.6 mil

Citaglobal Bhd (KL:CITAGLB) said it has secured a RM37.79 million subcontract to undertake construction work under Penang's light rail transit (LRT) project. The job awarded by SRS Consortium Sdn Bhd involves the construction of long spans from Komtar to East Jelutong for the LRT Mutiara Line project. The subcontract, which raised the group’s outstanding order book to about RM1.45 billion, was secured via a competitive tender process, said Citaglobal. — Citaglobal lands RM38 mil subcontract under Penang LRT project

Pan Merchant Bhd (KL:PMIBHD) said the group has been awarded a RM26.49 million contract as a nominated supplier for the Sungai Rasau Water Supply Scheme (Stage 1) in Selangor. The group said the contract was awarded to its wholly owned subsidiary PMI-Technology Sdn Bhd by REI OOE Consortium Sdn Bhd, which has been appointed by Gamuda M&E Sdn Bhd under the broader water infrastructure project. Under the appointment, PMI-Technology will supply and supervise the installation, testing and commissioning of filter press equipment and ancillary systems for Process Package 2 of the project. — Pan Merchant bags RM26 mil contract for Sungai Rasau water project

Perdana Petroleum Bhd (KL:PERDANA) is investing US$33.94 million (RM134.49 million) to build two new anchor-handling tug and supply (AHTS) vessels as part of its fleet rejuvenation programme amid improving conditions in the offshore support vessel market. The offshore marine support services provider has entered into two contracts with China’s Aulong Shipbuilding Co Ltd for the construction of two 60-tonne bollard pull AHTS vessels. The vessels are expected to be delivered within 730 days and 820 days respectively from the receipt of the first refund guarantees issued by the shipyard, with deployment targeted for the domestic and regional oil and gas markets from the third and fourth quarters of 2028. — Perdana Petroleum embarks on fleet renewal with US$34 mil vessel order

Ramssol Group Bhd (KL:RAMSSOL) said it is acquiring controlling stakes in two manpower and recruitment-related companies for RM14.4 million, as the ACE Market-listed group seeks to expand into recruitment, manpower outsourcing and artificial intelligence-powered (AI) workforce analytics. The human capital management solutions provider said its indirect wholly owned subsidiary Rams Fintech Sdn Bhd had entered into agreements to acquire a 60% stake in INNIO Holding Sdn Bhd (IHSB) and a 49% stake in Agensi Pekerjaan INNIO Sdn Bhd (API). IHSB owns INNIO Group Sdn Bhd and CariJob Holding Sdn Bhd, which are involved in manpower services, hostel management, recruitment services and an AI-powered cross-border manpower platform. API, meanwhile, operates a private employment agency business focused on recruiting and placing workers. — Ramssol buys stakes in manpower firms for RM14.4 mil to expand HR ecosystem

Pekat Group Bhd (KL:PEKAT) said its large-scale solar project in Kulai, Johor, awarded in October, has more than doubled in capacity to 135MWac and it has secured another RM100.86 million contract for additional works. The project's total contract value has increased to RM186.54 million, awarded by an unnamed main contractor to Pekat Solar Sdn Bhd, the group's indirect wholly owned subsidiary. Under the revised agreement, Pekat Solar will undertake additional works that will add 72MWac of capacity to the project, increasing the total installed capacity to 135MWac. — Pekat's Johor solar project capacity more than doubles; contract value rises to RM186.5 mil