KUALA LUMPUR (April 9): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

The negotiation period for Capital A Bhd's sale of AirAsia's aviation business to AirAsia X Bhd (AAX) has been extended for the second time until April 30, 2024. Both listed companies have mutually agreed to extend the negotiation period, initially set for two months and previously extended to April 15, for the sale of aviation subsidiaries, AirAsia Bhd (AAB) and AirAsia Aviation Group Ltd (AAAGL). This proposed sale is crucial for Capital A to present a regularisation plan to Bursa Securities by June 30, as it aims to exit Practice Note 17 status due to its negative total equity position. — Capital A, AirAsia X extend negotiation period for airline biz merger again

Solarvest Holdings Bhd aims to raise up to RM56.71 million through a private placement, representing 6% of its enlarged share base, to finance solar power projects. The proposal involves issuing up to 40.22 million shares to third parties at a yet-to-be-determined price, estimated based on a 9.62% discount to Solarvest shares' recent average price. — Solarvest plans RM56.7 mil private placement to fund solar projects

Low Swee Foong has ceased to be a substantial shareholder of TWL Holdings Bhd after selling 76.83 million shares in the property development and construction firm. The transaction, which occurred on April 4, amounted to approximately RM2.3 million based on the closing price of three sen per share. Low previously held a 6.09% stake in TWL Holdings, but following the sale, her shareholding has decreased to 3.32%. — Low Swee Foong ceases to be substantial shareholder of TWL Holdings after selling 2.8% stake

Practice Note 17 company Sarawak Cable Bhd (SCB) and its subsidiary, Universal Cable (Sarawak) Sdn Bhd, are both facing lawsuits from two banks, Hong Leong Bank Bhd (HLB) and Hong Leong Bank Islamic Bhd (HLISB), over a total owed sum of RM95.53 million. The group said it is currently in negotiations with the banks to settle the matter, and that the lawsuits are not expected to significantly impact its operations. — Sarawak Cable sued by two creditor banks claiming RM95.5m

Tycoon Tan Sri Vincent Tan is reportedly exploring the possibility of privatising Berjaya Food Bhd, which owns Starbucks Corp’s Malaysian operations. While talks with banks for financing are underway, sources say that Tan, who holds an interest of 55% in Berjaya Food through Berjaya Corp, may still decide against the go-private deal. — Vincent Tan said to weigh taking Berjaya Food private