Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday

Sunway Construction, Paramount Corporation, Country Heights, Sapura Industrial, Binastra Corporation, Public Bank, Ancom Nylex, Velesto Energy, Waja Konsortium, Ni Hsin, IOI Corporation, Ho Hup Construction, Kee Ming 

HP Inc on Wednesday named former GSK chief and Microsoft board member Emma Walmsley as CEO to steer the PC maker through a memory-chip crunch that has driven up prices and triggered a steep industry downturn.

HP names former GSK chief Emma Walmsley as CEO

Ancom Nylex Bhd (KL:ANCOMNY) has called off its proposed RM77.04 million disposal of up to a 50% stake in Maxlive Sdn Bhd to Thailand's Topnext International Company Ltd after both parties failed to agree on certain terms of the deal.

Ancom Nylex scraps RM77m stake sale to Thai chemical distributor

The Chiong family has strengthened its representation on the board of oil palm plantation owner and miller Kretam Holdings Bhd (KL:KRETAM), following a series of board appointments and committee changes.

Kretam sees board changes as Chiong family strengthens presence

Ho Hup Construction Company Bhd (KL:HOHUP) has secured another six-month extension from Bursa Malaysia to submit its regularisation plan, pushing the deadline to April 16, 2027.

Ho Hup gets another six months to submit regularisation plan, deadline now April 2027

Gold surged about 3% on Wednesday, on track for its biggest daily gain since mid-August as the dollar tumbled after Democrats swept the US midterm elections, while investors looked to this week's US non-farm payrolls report for clues on the interest rate outlook.

Gold heads for biggest daily gain since August on weaker dollar

US stocks rose on Wednesday as investors bet a divided Washington after the Democrats' midterm sweep could limit sharp policy shifts, though data centre stocks were under pressure as concerns over tighter artificial intelligence (AI) regulation weighed.

Wall Street rallies after Democrats win Congress; data centre stocks slide

US services sector growth slowed marginally in October amid a moderation in new orders, but supply chains remained strained, keeping prices for inputs elevated.

US services sector activity cools slightly in October; inflation remains elevated

CVS Health said on Wednesday it will split in two, separating its retail pharmacies from the Aetna insurance business and pharmacy-benefit operations in a major unwinding of the US$117 billion (RM475.6 billion) healthcare conglomerate it spent years building.

CVS to break up US$117b business, separating pharmacies from insurance; shares fall

Democrats' sweeping midterm victory, and particularly their coming control of the US Senate, strengthen the Federal Reserve (Fed) against President Donald Trump's efforts to meddle with it, with the Senate's control over appointments a major guardrail against Trump landing any more allies at the central bank.

Election stiffens Fed's guardrails, but independence risks remain

The government will disburse RM1.1 billion in Phase 4 of the Sumbangan Tunai Rahmah (STR) cash aid programme to 5.4 million recipients, with payments to existing beneficiaries starting on Wednesday (Nov 4).

STR payments from Nov 4: Households to get up to RM500, single seniors RM150

The Malaysian Anti-Corruption Commission (MACC) has arrested three individuals, including a Datuk, for allegedly offering about RM1 million in bribes to police personnel.

Businessman with 'Datuk' title among three held over alleged RM1m bribes to police

Google will invest US$15 billion (RM61 billion) in Malaysia over the next two years, covering energy efficient data centres, upskilling 800,000 Malaysians, water security and one gigawatt of clean energy.

Google to invest U$15b in Malaysia in 2027 and 2028

IOI Corp Bhd (KL:IOICORP) is looking to lease out more of its plantation land for solar projects as it seeks to diversify its income streams beyond palm oil, said group managing director and CEO Datuk Lee Yeow Chor.

IOI Corp eyes leasing more plantation land for solar projects to diversify income stream

As court payment counters closed for the day, imprisoned former prime minister Datuk Seri Najib Razak has yet to pay the RM50 million fine which would pave the way for him to start serving the remainder of his prison sentence at home.

Najib yet to pay RM50m fine as court payment counters close for the day

The Court of Appeal has given the prosecution until February&nbsp;3 to make further efforts to locate Muhammed Yusoff Rawther and serve him a notice to attend the hearing of its appeal against his acquittal on charges of drug trafficking and possession of fake pistols.

Court gives prosecution more time to locate Yusoff Rawther for acquittal appeal, rejects Zoom hearing to avoid setting precedent

Country Heights Holdings Bhd (KL:CHHB) has failed to attract bidders for a second land auction involving its properties, initiated by its creditors amid the group's ongoing loan defaults.

Country Heights fails to attract bidders for PJ land in second unsuccessful auction this year

Sunway Construction Group Bhd (KL:SUNCON) has secured RM920.8 million worth of additional mechanical, electrical and plumbing (MEP) fit-out works for an ongoing data centre development in Johor.

Sunway Construction secures RM921m additional works for Johor data centre

The Kuala Lumpur High Court on Wednesday allowed a Maju Holdings Sdn Bhd creditor to start contempt proceedings against the finacially distressed developer and its five directors and officers for allegedly breaching a temporary court order by acting through a nominee and a related corporation to disrupt liquidation proceedings.

Court allows creditor to start contempt proceedings against Maju Holdings  

Mega Fortris Bhd (KL:MEGAFB) shares continued to slide on Wednesday, hitting an intraday low of RM2.07 and erasing significant gains from its two-day rebound earlier this week.

Mega Fortris continues slide after two-day rebound, GIIB and Ni Hsin extend losses

Data centre engineering services provider MyDCD Bhd’s initial public offering (IPO) was oversubscribed by 36.46 times for the Malaysian public portion ahead of its ACE Market listing on Nov 17.

MyDCD's ACE Market IPO oversubscribed 36.46 times

THE Lees of IOI Corporation (KL:IOICORP), with its sprawling plantation and property interests, are a high-profile family in Malaysia. Until recently, IOI Properties Group (IOIPG), the conglomerate’s Bursa-listed property arm, had remained relatively unknown in Singapore.&nbsp;

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Singapore: IOI Properties Group tightens grip on Singapore’s CBD

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Summary

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Malaysia’s plastics industry stuck in the mould 

Malaysia will examine corporate rescue and business rehabilitation mechanisms, drawing lessons from the US’ Chapter 11 framework, as the next frontier of its insolvency reform agenda, said Datuk Seri Azalina Othman Said.

Malaysia to explore US 'Chapter 11' style corporate rescue framework, says Azalina

Sapura Industrial Bhd (KL:SAPIND) said on Wednesday it has signed an agreement to assemble front and rear axle systems for Chery vehicles.

Sapura Industrial to assemble Chery vehicle axles for RM307m

<div class="pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://myassets.theedgemalaysia.com/pics/2026/CC1650-P12n13-HBMK-strap-theedgemalaysia_20261029213709_g9qowg.jpg"><img alt="" src="https://myassets.theedgemalaysia.com/pics/2026/CC1650-P12n13-HBMK-...

The property manager’s role

Amazon Web Services (AWS) will be training 445,000 government officers on its artificial intelligence (AI) tools under its newly launched Semarak AI Malaysia programme.&nbsp;

AWS to train 445,000 civil servants on AI tools under Semarak AI Malaysia

About 80 protesters gathered outside the venue of the Roundtable on Sustainable Palm Oil's (RSPO) annual conference, demanding that the certification body and its member companies be held accountable for forest fires and haze in Indonesia.

Protesters demand RSPO accountability over Indonesia forest fires

About 14,500 hectares, or less than 1%, of the more than 1.9 million hectares affected by fires across Indonesia between January and September 2026 were within Roundtable on Sustainable Palm Oil (RSPO)-certified concessions, said RSPO chief executive officer Joseph D’Cruz.

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