KUALA LUMPUR (March 14): Here is a brief recap of some corporate announcements that made the news on Thursday:  

CTOS Digital Bhd's wholly-owned CTOS Data Systems Sdn Bhd (CDS) has applied for a stay of execution of a High Court judgement after CDS was ordered to pay damages to its client over inaccurate negative credit rating. CDS has also lodged a notice of appeal to the Court of Appeal over the High Court’s judgement. CTOS seeks stay of execution of High Court’s judgement over inaccurate credit rating

Awanbiru Technology Bhd has won a legal suit against the government over the termination of the RM3.5 billion National Immigration Control System (SKIN) project. The High Court ruled in favour of Awantec's wholly-owned unit, Prestaring Skin Sdn Bhd (PSKIN), and ordered the government to pay a judgment sum of RM231.55 million, with a post-judgment interest of 5% per annum, and cost of RM80,000, subject to final legal fees. Govt ordered to pay RM231.55m in damages to Awantec over termination of RM3.5b SKIN project

Boustead Heavy Industries Corp Bhd has received a contract extension on Feb 26 from the Ministry of Defence Malaysia (Mindef) worth RM3.5 million. The extension, for submarine facilities upkeep, is for a contract period of 45 days from Jan 1 until Feb 14. The contract was initially awarded to BSES in May 2023 at a contract value of RM40.26 million for a period of 12 months from Jan 1, 2023 until Dec 31, 2023. BHIC secures contract extension from Mindef worth RM3.5 mil

Oil-and-gas services firm Icon Offshore Bhd has secured a contract to provide an accommodation workboat to Petrolanpan Sdn Bhd for an undisclosed amount. The contract will span 45 days, with the option to extend for an additional 15 days. Petrolanpan has selected Icon Kayra, the group accommodation workboat for hook-up and commissioning work activities. Icon Offshore secures workboat charter deal

Energy infrastructure and marine services provider Coastal Contracts Bhd has ventured into the tourism industry by acquiring an 82% equity interest in a company undertaking an overwater resort in Sabah for RM18.98 million. It acquired the stake in Jewel of Mabul Development Sdn Bhd (JOMD) by acquiring 100,000 shares in the company from Richard Christopher Barnes and subscribing for another 1.72 million shares. Coastal Contract will inject RM50 million in the form of share subscription in JOMD to develop Phase 1 of the resort project. Coastal Contracts acquires 82% stake in developer of overwater resort in Sabah

Piling and foundation specialists Econpile Holdings Bhd has secured a contract worth RM83 million to undertake sub-contract earthworks from BRDB Developments Sdn Bhd. The project, to be completed within 18 months, is for the proposed development of 146 units of villa residences, including common facilities and club house in Taman Duta, Bukit Tunku, Kuala Lumpur. Econpile bags RM83 mil contract for earthwork-related jobs

HeiTech Padu Bhd saw Datuk Farhash Wafa Salvador emerge as a new substantial shareholder with an indirect interest of 15.9% or 16.1 million shares, which were acquired earlier this week. Farhash has deemed interest in the company via a private vehicle Rosetta Partners Sdn Bhd, which bought 9.69 million shares on Tuesday (March 12) and 6.16 million shares on Monday. The acquisition price was not disclosed, but according to Bloomberg data, 9.69 million HeiTech shares crossed off market at RM2.15 apiece on Tuesday, a 27% discount versus the stock’s closing price of RM2.95 on the same day. HeiTech Padu sees emergence of another new substantial shareholder

Bermaz Auto Bhd has secured the rights to sell XPeng vehicles and spare parts in Malaysia, and to provide after-sales services for the Chinese electric vehicle (EV) marque. The distributorship was awarded by Shenzhen Xiaopeng Motors Supply Chain Management Co Ltd (Shenzhen XPeng) and Guangzhou Xiaopeng Motors Trading Co Ltd (Guangzhou XPeng). Both Shenzhen XPeng and Guangzhou XPeng are affiliates of Guangzhou Xiaopeng Motors Technology Co Ltd (XPeng Motors), the manufacturer of the XPeng marque smart EVs that is headquartered in Guangzhou, China. Bermaz Auto adds China EV maker XPeng's distributorship to its portfolio

The public portion of Prolintas Infra Business Trust’s initial public offering (IPO) of 27.5 million units was oversubscribed by 3.59 times after receiving a total of 7,211 applications for 126.17 million units, with a total value of RM119.9 million. The Bumiputera portion received a total of 2,881 applications for 32.34 million units, representing an oversubscription rate of 1.35 times, while 4,330 applications for 93.83 million units were received under the other Malaysian public portion, representing an oversubscription rate of 5.82 times. Public portion of Prolintas Infra Business Trust's IPO oversubscribed by 3.59 times