<div class=newsTextDataWrapInner><p>(Oct 1):&nbsp;Equinix Inc&nbsp;has formed a joint venture (JV) with Canada Pension Plan Investment Board (CPP) and Singapore’s GIC Pte Ltd to develop new data centres.</p></div>

<div class=newsTextDataWrapInner><p>Redwood City, California-based Equinix intends to raise more than US$15 billion (RM62.43 billion) in capital with its partners, according to a statement on Tuesday, confirming an&nbsp;earlier story&nbsp;by <em>Bloomberg News</em>. The company said it expects the JV to purchase land to build new facilities that may eventually add more than 1.5 gigawatts of new capacity for hyperscale customers.</p></div>

<div class=newsTextDataWrapInner><p>Equinix is the largest real estate investment trust focused on data centres, with a market capitalisation of about US$84 billion. The company has previously teamed up with large investors including GIC and PGIM to develop or acquire data centres.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the new partnership, CPP and GIC will each own 37.5% of the JV, and Equinix will own the remaining 25%.</p></div>

<div class=newsTextDataWrapInner><p>Demand for data centres has proliferated amid the boom in artificial intelligence, with executives across the globe citing an increased need for the facilities as well as energy to power them.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/728660" target="_blank">TPG, Singapore's GIC to buy energy meter maker Techem for US$7.5b</a></em></p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Tham Yek Lee</em></p></div>


Equinix Inc has formed a joint venture (JV) with Canada Pension Plan Investment Board (CPP) and Singapore’s GIC Pte Ltd to develop new data centres.

Redwood City, California-based Equinix intends to raise more than US$15 billion (RM62.43 billion) in capital with its partners, according to a statement on Tuesday, confirming an earlier story by Bloomberg News. The company said it expects the JV to purchase land to build new facilities that may eventually add more than 1.5 gigawatts of new capacity for hyperscale customers.

Equinix forms US$15b data centre JV with Canada Pension, Singapore's GIC

The Bank of Japan is widely expected to stand pat Thursday in the face of elevated uncertainty, as financial markets brace for the US presidential election after Japan’s polls resulted in a lack of clarity over its next government.

BOJ to sit tight as Japan, US elections elevate uncertainty

Investors are selling yen and taking shelter in cash, India, pockets of China's markets and Singapore dollars ahead of a U.S. election that could shake out global money and trade flows.

Investors take cover in Asia ahead of US election

Gold reached a record in early Asian trading on Wednesday, as traders digested the latest US economic data and weighed potential market disruption ahead of the looming presidential election.

Gold hits fresh record high as US data, election race fan demand

Oil extended losses following its biggest drop in more than two years on Monday as signs of a potential de-escalation of Israel’s Lebanon offensive offset the prospect of more stimulus in China.

Oil prices fall for second day as Israel talks outweigh China stimulus

Most stocks in Asia are set for a cautious open following mixed results from Wall Street tech companies and as traders prepare for next week’s US election and Federal Reserve (Fed) rate decision.

Asia set for muted open after mixed US tech companies' results

A rally in some of the largest tech companies pushed stocks higher, with Alphabet Inc rising in late hours as earnings beat estimates.

Nasdaq hits record as Alphabet jumps in late hours

The fast acceleration of the electric vehicle (EV) market over the last few years has hit a speed  bump as demand for the vehicles  has noticeably declined recently.

Global EV demand plateaus

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

Symphony Life, Frontken, Unisem, LPI Capital, Infoline Tec, Tasco, TM, Kumpulan Kitacon, Chin Teck, Techna-X

The European Union will impose higher tariffs peaking at 45% on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers.

EU presses ahead with tariffs on China EVs, risking retaliation

Construction outfit Southern Score Builders Bhd (KL:SSB8) is eyeing a transfer to the Main Market.

ACE Market-listed Southern Score plans Main Market transfer

<p>Symphony Life Bhd’s former chief financial officer Ng Ying Yiing and former group adviser Datuk David Goh were charged at the Sessions Court in Shah Alam for using RM2.57 million in company funds to purchase shares in Cycle and Carriage Bintang Bhd (CCB), without board approval.</p>


Symphony Life's ex-CFO, adviser charged for using company funds to buy Cycle and Carriage Bintang shares

<p>While Symphony Life Bhd’s former group chief financial officer Ng Ying Yiing was charged on Tuesday for using company funds to purchase shares in Cycle and Carriage Bintang Bhd (CCB) without board approval, the Industrial Court last week separately awarded her RM792,000 in back wages and had seemingly absolved her of wrongdoing in its judgment.</p>


Ex-Symphony Life CFO awarded RM729,000 in back pay over wrongful dismissal

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


<p>Chin Teck Plantations Bhd (KL:CHINTEK) on Tuesday said its fourth quarter net profit surged 64.32% from the year before, thanks to higher sales volume and average selling prices (ASP) of fresh fruit bunches (FFB), crude palm oil (CPO) and palm kernel (PK).</p>


Chin Teck Plantations sees CPO prices to sustain after 4Q profit lifted by 64%

<p>The Ministry of Defence (Mindef) has been urged to clarify its decision to award a RM187 million contract to lease four Black Hawk helicopters on a direct negotiation basis to a local air service provider.</p>


Clarify Black Hawk deal, opposition MP demands

<p>Agmo Holdings Bhd (KL:AGMO), ACE Market-listed digital solutions and application development specialist, is working with an accounting firm to explore the development of digital solutions tailored for the finance and accounting sector.</p>


Agmo partners accounting firm to develop digital solutions for finance sector

<p>SoftBank Group CEO Masayoshi Son reiterated his belief in the coming of artificial super intelligence (ASI) on Tuesday, saying it would require hundreds of billions of dollars of investment to realise.</p>


SoftBank's Son says artificial super intelligence to exist by 2035

<p>Telekom Malaysia Bhd (KL:TM) has appointed Ahmad Fairus Rahim as its new group chief financial officer (CFO), effective Nov 1.</p>


TM promotes Ahmad Fairus Rahim as new finance chief 

<p>The Malaysian Anti-Corruption Commission (MACC) has initiated an investigation into the existence of a cartel in distributing and supplying paddy fertiliser contracts in an association under the control of a ministry estimated to be worth RM1.8 billion.</p>


MACC launches probe into alleged RM1.8b paddy fertiliser cartel

<p>Johor Plantations Group Bhd (KL:JPG) on Tuesday unveiled its 10-year roadmap aimed at transforming the company into a next-generation integrated palm oil producer to lead the palm oil industry.</p>


Johor Plantations unveils 10-year roadmap to become leading integrated palm oil producer

<p>The European Union will impose higher tariffs peaking at 45% on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers.</p>


<p>Wall Street was little changed on Tuesday as investors assessed a host of corporate results and awaited Google-parent Alphabet's earnings later in the day.</p>


Wall Street muted ahead of Alphabet earnings

<p>Infoline Tec Group Bhd (KL:INFOTEC) reported a 54.6% increase in net profit for the third quarter, driven by strong contributions from its managed IT services segment and the successful delivery of key IT infrastructure and cybersecurity projects.</p>


Infoline books highest quarterly earnings since listing; declares 0.79 sen dividend

<p>Pengurusan Air Selangor Sdn Bhd (Air Selangor) has reiterated its commitment towards the sustainability and resilience of water supply by supporting Water Sector Transformation 2040 (AIR 2040), a national agenda introduced by the federal government to transform the water sector.</p>


Air Selangor backs Putrajaya's water sector transformation roadmap

<p>Bridgewater Associates founder Ray Dalio on Tuesday called Saudi Arabia’s de-facto ruler Mohammed bin Salman a “great leader,” and likened him to China’s Deng Xiaoping and Singapore’s Lee Kuan Yew.</p>


Dalio likens Saudi crown prince MBS to Deng Xiaoping, Lee Kuan Yew

<p>Construction outfit Southern Score Builders Bhd (KL:SSB8) is eyeing a transfer to the Main Market.</p>


<p>US job openings fell in September to the lowest since early 2021 and layoffs picked up, consistent with a slowdown in the labour market.</p>

<p>Available positions decreased to 7.44 million from a downwardly revised 7.86 million reading in August, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed on Tuesday.</p>


US job openings drop to lowest level since early 2021

<p>Crocs Inc’s shares fell as much as 16% in US premarket trading after the seller of brightly coloured plastic clogs tempered growth expectations and warned of sales declines for its casual HeyDude brand.</p>


Crocs shares sink after shoemaker pares back sales outlook

<p>The US trade deficit in goods widened to a 2-1/2-year high in September amid a surge in imports, prompting some economists to trim their economic growth estimates for the third quarter.</p>


US goods trade deficit surges to 2-1/2-year high on jump in imports

<p>The fast acceleration of the electric vehicle (EV) market over the last few years has hit a speed &nbsp;bump as demand for the vehicles &nbsp;has noticeably declined recently.&nbsp;</p>
