Corporate Updates - Bursa Malaysia - Insights

Date	Company	Event Details	Sector	Event Summary
16 Feb, 2026	Tenaga Nasional Bhd	Tenaga Nasional Bhd, in a consortium with Aurora Power Generation Sdn Bhd, won the bid for a 1,400 MW combined cycle gas power plant in Paka, Terengganu. Project Details: Construction timeline: ~3 years Power Purchase Agreement (PPA): 15 years PPA Extensions for Existing Plants Tenaga-linked plants: Gelugor, Penang – 310 MW Putrajaya – 249 MW Tuanku Ja’afar (PD1), Port Dickson – 703 MW PPA extended until 31 Dec 2029 Other IPPs: Edra Power Holdings: Panglima Power (700 MW, Melaka), Kuala Langat (675 MW, Selangor) PETRONAS (via Pengerang Power): +150 MW Malakoff Corp: Segari Energy (1,303 MW, Perak), GB3 (429 MW, Perak), Prai Power (350 MW, Penang) – PPA until 31 Dec 2029	ELECTRICITY	Operation Updates
16 Feb, 2026	ISF Group Bhd	ISF Group Bhd has secured a RM10 million subcontract for cold-water and sanitary plumbing systems at a serviced apartment project. The contract was awarded to its wholly owned unit Yeo Plumber Sdn Bhd by Kerjaya Prospek Group Bhd’s subsidiary and is scheduled for completion by March 15, 2029.	INDUSTRIAL SERVICES	Contract Awarded
16 Feb, 2026	Redplanet Berhad	RedPlanet Bhd has filed for an IPO to transfer from Bursa Malaysia’s LEAP Market to the ACE Market. The exercise comprises a public issue of 70 million new shares and an offer for sale of up to 10 million existing shares, representing a 19.48% stake at an undisclosed price. Of the new shares (17.05% of the enlarged base), 20.54 million are allocated to the public, 19.71 million to eligible persons, 11.53 million via private placement to selected investors and 18.22 million to Bumiputera investors. Proceeds will fund materials procurement, subcontractor services, performance bonds and business development. The offer-for-sale proceeds (up to 2.43%) will go to major shareholder PKSen Ventures.	DIGITAL SERVICES	Proposed Listing
16 Feb, 2026	iCents Group Holdings Bhd	iCents Group Holdings Bhd has secured three subcontracts worth a combined RM29.38 million. Two contracts, valued at RM10.13 million each, involve air-conditioning and mechanical ventilation (ACMV) works for data centre projects, with completion targeted by Aug 20. The third contract, worth RM9.12 million, covers the upgrade of a Tenaga Nasional Bhd substation, including additional electrical works, and is due for completion by Dec 31. All jobs were awarded to its unit VC Engineering Sdn Bhd by undisclosed contractors.	INDUSTRIAL SERVICES	Contract Awarded
16 Feb, 2026	CIMB Group Holdings Bhd	CIMB Group Holdings Bhd may realise a one-off gain of around RM810 million by reducing its 92.4% stake in PT Bank CIMB Niaga TBK to comply with Indonesia’s potential increase in minimum free float rules to 15%	BANKING	Others
16 Feb, 2026	Faizal Kong Noodles	Faizal Kong Noodles, a Malaysian halal noodle chain, has entered a strategic partnership with investment firms MCI Capital and Evolve Capital to accelerate its transformation from a domestic restaurant group into an internationally scalable brand. The collaboration, formalised through a Memorandum of Understanding in Kuala Lumpur, will focus on capital structuring, brand expansion, supply chain industrialisation, and global market entry. Samuel Chew, Director of Eternal Legacy Holdings, highlighted that the partnership goes beyond funding, serving as a strategic move to position Faizal Kong as a global leader in halal Chinese cuisine.	FOOD & BEVERAGES	Operation Updates
16 Feb, 2026	HeiTech Padu Bhd	Heitech Padu Bhd has been served with a RM5.05 million lawsuit by Kayangan Cahaya Sdn Bhd at the Shah Alam High Court in relation to a building maintenance services agreement dated April 5, 2024, and associated works. The company disputes the claim, is reviewing the allegations with its solicitors, and intends to defend the suit, with no provision made pending further legal assessment.	DIGITAL SERVICES	Others
16 Feb, 2026	Duopharma Biotech Bhd	Duopharma Biotech Bhd secured two contracts totalling RM116.72 million to supply insulin products to the Ministry of Health and its facilities, comprising a RM65.08 million award to Duopharma Marketing Sdn Bhd and Biocon Sdn Bhd for recombinant human insulin formulations running until May 15, 2026, and a RM52.54 million contract to Duopharma (M) Sdn Bhd for insulin injections running until Feb 5, 2028. Duopharma Marketing will act as distributor while Biocon manufactures and supplies the products, with performance bonds of RM3.25 million and RM1.31 million required within 30 days of acceptance for the respective contracts. Malaysia has an estimated 4.75 million diabetics, including about 450,000 patients receiving human insulin treatment at government hospitals and clinics.	PHARMACEUTICALS	Contract Awarded
16 Feb, 2026	Harvest Miracle Capital Bhd	Harvest Miracle Capital Berhad entered into a Share Subscription Agreement and Shareholders’ Agreement on Feb 13, 2026 with G&T Brand Sdn Bhd to subscribe for 40,000 new ordinary shares in Kaw Kaw Malaya Sdn Bhd, representing 40% of its enlarged share capital, for RM40,000 plus a shareholder’s advance of RM4.36 million, bringing the total investment to RM4.4 million funded via internal funds. Incorporated on Nov 19, 2025, Kaw Kaw Malaya has an issued capital of RM60 as at Feb 9, 2026, has yet to commence operations, and plans to operate two outlets at Bangunan Sultan Abdul Samad and Jalan Kemuning off Jalan Imbi	TECHNOLOGY EQUIPMENT	Business Venture
16 Feb, 2026	Seal Incorporated Bhd	Seal Inc Bhd (“Seal”) is reducing its exposure in the 31.50-acre Bayan Mutiara reclamation project in Penang by transferring control to Titanium Greenview Sdn Bhd (“TGSB”), a wholly-owned unit of GSD Land (M) Sdn Bhd. Under the deal, TGSB will hold 82.34% of Mutiara Waterfronts Habitats Sdn Bhd (“MWHSB”), the project vehicle, while Seal’s Daiman Majumas Sdn Bhd stake drops to 17.66%. The collaboration allows Seal to offload future funding obligations for the reclamation project while retaining a minority interest and entitlement to 3.03 acres of developable land. The project, originally costing Seal substantial capital (total investment and advances of ~RM54.55 million), involves reclaiming 31.5 acres with net developable land of 22.87 acres. MWHSB will receive 17.156 acres as developer land following a partial offer from Penang Development Corporation, of which Seal’s 17.66% translates to 3.03 acres. TGSB’s investment of RM9.325 million covers 9,325,028 new MWHSB shares and settles MWHSB’s outstanding amounts owed to Seal. Upon completion, MWHSB will no longer be consolidated into Seal’s financial statements, reducing financial risk and freeing resources for higher-growth areas, while Seal retains upside from its entitled land. Seal’s board considers the collaboration strategic, mitigating funding pressure, enabling the reclamation project to progress, and allowing a shift of focus toward renewable energy and other growth segments. Completion is expected in Q2 2026, subject to regulatory and shareholder approvals.	PROPERTY	Disposal

16 Feb, 2026

Tenaga Nasional Bhd

Tenaga Nasional Bhd, in a consortium with Aurora Power Generation Sdn Bhd, won the bid for a 1,400 MW combined cycle gas power plant in Paka, Terengganu. Project Details: Construction timeline: ~3 years Power Purchase Agreement (PPA): 15 years PPA Extensions for Existing Plants Tenaga-linked plants: Gelugor, Penang – 310 MW Putrajaya – 249 MW Tuanku Ja’afar (PD1), Port Dickson – 703 MW PPA extended until 31 Dec 2029 Other IPPs: Edra Power Holdings: Panglima Power (700 MW, Melaka), Kuala Langat (675 MW, Selangor) PETRONAS (via Pengerang Power): +150 MW Malakoff Corp: Segari Energy (1,303 MW, Perak), GB3 (429 MW, Perak), Prai Power (350 MW, Penang) – PPA until 31 Dec 2029

ELECTRICITY

Operation Updates

16 Feb, 2026

ISF Group Bhd

ISF Group Bhd has secured a RM10 million subcontract for cold-water and sanitary plumbing systems at a serviced apartment project. The contract was awarded to its wholly owned unit Yeo Plumber Sdn Bhd by Kerjaya Prospek Group Bhd’s subsidiary and is scheduled for completion by March 15, 2029.

INDUSTRIAL SERVICES

Contract Awarded

16 Feb, 2026

Redplanet Berhad

RedPlanet Bhd has filed for an IPO to transfer from Bursa Malaysia’s LEAP Market to the ACE Market. The exercise comprises a public issue of 70 million new shares and an offer for sale of up to 10 million existing shares, representing a 19.48% stake at an undisclosed price. Of the new shares (17.05% of the enlarged base), 20.54 million are allocated to the public, 19.71 million to eligible persons, 11.53 million via private placement to selected investors and 18.22 million to Bumiputera investors. Proceeds will fund materials procurement, subcontractor services, performance bonds and business development. The offer-for-sale proceeds (up to 2.43%) will go to major shareholder PKSen Ventures.

DIGITAL SERVICES

Proposed Listing

16 Feb, 2026

iCents Group Holdings Bhd

iCents Group Holdings Bhd has secured three subcontracts worth a combined RM29.38 million. Two contracts, valued at RM10.13 million each, involve air-conditioning and mechanical ventilation (ACMV) works for data centre projects, with completion targeted by Aug 20. The third contract, worth RM9.12 million, covers the upgrade of a Tenaga Nasional Bhd substation, including additional electrical works, and is due for completion by Dec 31. All jobs were awarded to its unit VC Engineering Sdn Bhd by undisclosed contractors.

INDUSTRIAL SERVICES

Contract Awarded

16 Feb, 2026

CIMB Group Holdings Bhd

CIMB Group Holdings Bhd may realise a one-off gain of around RM810 million by reducing its 92.4% stake in PT Bank CIMB Niaga TBK to comply with Indonesia’s potential increase in minimum free float rules to 15%

BANKING

Others

16 Feb, 2026

Faizal Kong Noodles

Faizal Kong Noodles, a Malaysian halal noodle chain, has entered a strategic partnership with investment firms MCI Capital and Evolve Capital to accelerate its transformation from a domestic restaurant group into an internationally scalable brand. The collaboration, formalised through a Memorandum of Understanding in Kuala Lumpur, will focus on capital structuring, brand expansion, supply chain industrialisation, and global market entry. Samuel Chew, Director of Eternal Legacy Holdings, highlighted that the partnership goes beyond funding, serving as a strategic move to position Faizal Kong as a global leader in halal Chinese cuisine.

FOOD & BEVERAGES

Operation Updates

16 Feb, 2026

HeiTech Padu Bhd

Heitech Padu Bhd has been served with a RM5.05 million lawsuit by Kayangan Cahaya Sdn Bhd at the Shah Alam High Court in relation to a building maintenance services agreement dated April 5, 2024, and associated works. The company disputes the claim, is reviewing the allegations with its solicitors, and intends to defend the suit, with no provision made pending further legal assessment.

DIGITAL SERVICES

Others

16 Feb, 2026

Duopharma Biotech Bhd

Duopharma Biotech Bhd secured two contracts totalling RM116.72 million to supply insulin products to the Ministry of Health and its facilities, comprising a RM65.08 million award to Duopharma Marketing Sdn Bhd and Biocon Sdn Bhd for recombinant human insulin formulations running until May 15, 2026, and a RM52.54 million contract to Duopharma (M) Sdn Bhd for insulin injections running until Feb 5, 2028. Duopharma Marketing will act as distributor while Biocon manufactures and supplies the products, with performance bonds of RM3.25 million and RM1.31 million required within 30 days of acceptance for the respective contracts. Malaysia has an estimated 4.75 million diabetics, including about 450,000 patients receiving human insulin treatment at government hospitals and clinics.

PHARMACEUTICALS

Contract Awarded

16 Feb, 2026

Harvest Miracle Capital Bhd

Harvest Miracle Capital Berhad entered into a Share Subscription Agreement and Shareholders’ Agreement on Feb 13, 2026 with G&T Brand Sdn Bhd to subscribe for 40,000 new ordinary shares in Kaw Kaw Malaya Sdn Bhd, representing 40% of its enlarged share capital, for RM40,000 plus a shareholder’s advance of RM4.36 million, bringing the total investment to RM4.4 million funded via internal funds. Incorporated on Nov 19, 2025, Kaw Kaw Malaya has an issued capital of RM60 as at Feb 9, 2026, has yet to commence operations, and plans to operate two outlets at Bangunan Sultan Abdul Samad and Jalan Kemuning off Jalan Imbi

TECHNOLOGY EQUIPMENT

Business Venture

16 Feb, 2026

Seal Incorporated Bhd

Seal Inc Bhd (“Seal”) is reducing its exposure in the 31.50-acre Bayan Mutiara reclamation project in Penang by transferring control to Titanium Greenview Sdn Bhd (“TGSB”), a wholly-owned unit of GSD Land (M) Sdn Bhd. Under the deal, TGSB will hold 82.34% of Mutiara Waterfronts Habitats Sdn Bhd (“MWHSB”), the project vehicle, while Seal’s Daiman Majumas Sdn Bhd stake drops to 17.66%. The collaboration allows Seal to offload future funding obligations for the reclamation project while retaining a minority interest and entitlement to 3.03 acres of developable land. The project, originally costing Seal substantial capital (total investment and advances of ~RM54.55 million), involves reclaiming 31.5 acres with net developable land of 22.87 acres. MWHSB will receive 17.156 acres as developer land following a partial offer from Penang Development Corporation, of which Seal’s 17.66% translates to 3.03 acres. TGSB’s investment of RM9.325 million covers 9,325,028 new MWHSB shares and settles MWHSB’s outstanding amounts owed to Seal. Upon completion, MWHSB will no longer be consolidated into Seal’s financial statements, reducing financial risk and freeing resources for higher-growth areas, while Seal retains upside from its entitled land. Seal’s board considers the collaboration strategic, mitigating funding pressure, enabling the reclamation project to progress, and allowing a shift of focus toward renewable energy and other growth segments. Completion is expected in Q2 2026, subject to regulatory and shareholder approvals.

PROPERTY

Disposal