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

Malayan Banking Bhd (KL:MAYBANK) is acquiring the remaining 30.95% stake in Etiqa's holding company, Maybank Ageas Holdings Bhd, from Belgian insurer Ageas SA for RM4.83 billion, giving Malaysia's largest lender full ownership of its insurance and takaful business. The RM4.83 billion price tag, adjusted for an RM800 million dividend to be paid by Maybank Ageas on the completion date, values the company at 1.98 times its book value and 15.3 times its earnings. The proposed acquisition is subject to approval from Bank Negara Malaysia. — Maybank buys remaining stake in Etiqa’s holding company from Ageas for RM4.83 bil

Sunway Construction Group Bhd (KL:SUNCON) has secured an engineering contract worth RM1.02 billion for a data centre project in Johor. The client was only identified as a US-headquartered multinational technology company, and the exact location of the data centre was not disclosed. The job is expected to be completed by the fourth quarter of 2027. — Sunway Construction bags data centre engineering contract worth over RM1 bil

Press Metal Aluminium Holdings Bhd (KL:PMETAL) said it is buying its controlling shareholders’, the Koon family, 35.6% stake in listed associate PMB Technology Bhd (KL:PMBTECH) for RM464.95 million in cash. The deal will raise Press Metal’s stake in PMB Tech from 23.2% to 58.8%, crossing the mandatory takeover offer (MO) threshold. However, no MO will be required as Press Metal and persons acting in concert have obtained an exemption from the Securities Commission Malaysia (SC). The deal for the Koon family’s stake in PMB Tech values the shares at 70 sen apiece, which is at a discount to both its latest audited and unaudited net assets per share of 72 sen and 73 sen respectively. — Press Metal to acquire Koon family’s stake in PMB Tech for RM465 mil or 70 sen per share

Bintulu Port Holdings Bhd (KL:BIPORT) has appointed former Petroliam Nasional Bhd (PETRONAS) executive Anuar Ismail, 57, as its new group CEO, effective Aug 17, 2026. He will replace Datuk Ruslan Abdul Ghani, 59, who is set to leave to join Sarawak Energy Bhd. Anuar most recently served as head of state relations at PETRONAS, Bintulu Port noted. — Bintulu Port names ex-PETRONAS executive Anuar Ismail as new group CEO

Pestec International Bhd (KL:PESTEC) said its external auditor in the audited financial statements of Pestec for the financial year ended March 31, 2026 (FY2026), particularly on RM50.31 million in contract assets. The contract assets relate to a project in Iraq and “significant uncertainty exists over the recoverability of these amounts” due to the conflict in West Asia, the auditor noted. — Pestec’s auditor flags war troubles on RM50 mil contract assets

Nestcon Bhd (KL:NESTCON) has secured a RM74.52 million contract to build an affordable apartment project in Kwasa Damansara township in Sungai Buloh, Selangor. Its unit has accepted a letter of award from Exsim MX4 Sdn Bhd, a unit of property developer Exsim Group, to undertake the project. Construction will commence immediately and is expected to be completed within 29 months, by Jan 2, 2029. — Nestcon secures RM74.5 mil affordable housing job from Exsim

AMS Advanced Material Bhd (KL:AMS) has secured the necessary licences to commence its aluminium scrap business. The approvals allow it to begin collecting, processing and selling aluminium scrap materials through its wholly owned subsidiary, AMS Ecogreen Sdn Bhd, it said. Operations will be carried out at a facility in Johor with an initial processing capacity of about 17 tonnes per month. — AMS Advanced Material gets licence to start aluminium scrap business in Johor

LYC Healthcare Bhd (KL:LYC) faces a trading suspension from Aug 10 if it fails to submit its overdue annual report for the financial year ended March 31, 2026 (FY2026), by this Friday (Aug 7). It missed the July 31 deadline to submit its annual report as required under Bursa Malaysia's listing requirements.
— LYC Healthcare has until Friday to file overdue annual report to avoid trading suspension

Aldrich Resources Bhd (KL:ALRICH) said its indirect wholly owned subsidiary, Proficient Premium Sdn Bhd (PPSB), has obtained approval from the Housing and Local Government Ministry to conduct online money lending business. The approval was dated July 29 and received by PPSB on July 30. Proficient Premium already holds a valid money lending licence from the Housing and Local Government Ministry. — Aldrich unit gets approval to offer online money lending services

MMM Group Bhd (KL:MMM) plans to appeal against Bursa Securities’ decision to reject its proposed regularisation plan to exit Practice Note 17 (PN17) status for financially distressed companies. The company said it is in the process of submitting its appeal, which it has until Aug 9 to submit. — MMM Group plans to appeal Bursa's rejection of PN17 regularisation plan

Khee San Bhd (KL:KHEESAN) said all of the company's outstanding debt to creditors has been settled, following the completion of its regularisation plan earlier this year. The candy maker said it has “fully settled all outstanding obligations to its creditors, and all banking facilities have been discharged”. It noted there are currently no defaults in payment by the company as at Aug 3. — Khee San says all outstanding debt to creditors settled

Maybank, Sunway Construction, Press Metal, PMB Tech, Bintulu Port, Pestec, Nestcon, AMS Advanced Material, LYC Healthcare, Aldrich Resources, MMM Group, Khee San