<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 28): Indah Water Konsortium Sdn Bhd (IWK) expects repairs to a sinkhole which appeared along Lebuhraya Mayang Pasir in Bayan Baru, Penang, on Wednesday afternoon&nbsp;to take at least 10 days, with completion targeted by Nov 7, weather permitting.</p></div>

<div class=newsTextDataWrapInner><p>IWK in a statement said it began investigating the site after receiving public complaints.</p></div>

<div class=newsTextDataWrapInner><p>Preliminary findings suggest the sinkhole may have been caused by a dislocated joint in an underground sewer pipe. The pipe, which is more than 30 years old, measures about 300mm in diameter and lies approximately four metres underground.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>IWK said this was the first reported incident of its kind in the area, with no previous complaints about sewer defects.</p></div>

<div class=newsTextDataWrapInner><p>As at 8pm on Wednesday, the situation was under control and safety measures had been put in place.</p></div>

<div class=newsTextDataWrapInner><p>The company will continue investigating the cause and monitoring the site.</p></div>

<div class=newsTextDataWrapInner><p>IWK also conducts regular inspections and is carrying out CCTV inspections and ground-penetrating radar scans across Penang to identify ageing sewer pipelines that may require upgrades.</p></div>

<div class=newsTextDataWrapInner><p>It said it would continue working with the relevant authorities to restore the affected infrastructure and ensure public safety.</p></div>


Indah Water Konsortium Sdn Bhd (IWK) expects repairs to a sinkhole which appeared along Lebuhraya Mayang Pasir in Bayan Baru, Penang, on Wednesday afternoon to take at least 10 days, with completion targeted by Nov 7, weather permitting.

Indah Water says repairs to sinkhole along Penang’s Lebuhraya Mayang Pasir to take at least 10 days

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

Maxis, Zetrix AI, Bursa Malaysia, CTOS Digital, CIMB, Jati Tinggi, Oriental Interest, Pantech Group, Berjaya Property, Titijaya, T7 Global & Kanger International

Private healthcare group Asia OneHealthcare Bhd (A1H), whose portfolio includes Subang Jaya Medical Centre and hospitals under the Columbia Asia network, has filed for an initial public offering (IPO) on Bursa Malaysia to fund hospital expansion, maintenance capital expenditure and debt repayment.

Asia OneHealthcare files for IPO to fund hospital expansion, repay debt

Investing giant Pacific Investment Management Co (Pimco) helped supercharge the artificial intelligence (AI) debt boom with billions of dollars in lending in 2025 — and has cut positions just in time to skirt losses and eke out a profit.

Pimco offloads billions in AI debt just in time to skirt losses — Bloomberg

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, on Wednesday graced a high tea organised by The Edge Media Group to celebrate the silver jubilee of His Royal Highness' reign, as well as to launch a commemorative magazine published by The Edge Malaysia at Four Seasons Kuala Lumpur.

The Edge unveils commemorative magazine to mark Selangor sultan's silver jubilee

The Attorney General-led special committee tasked with investigating financial crime has held its first meeting on Wednesday to finalise its member composition and outline the precise scope of its investigations.

AG-led financial crime committee holds first meeting, sets investigation scope

The World Bank on Wednesday warned that global commodity prices are set to increase by 23% by the end of 2026, with energy prices at four-year highs due to the war on Iran and food prices driven up by global conflicts and El Niño.

World Bank warns of worsening food insecurity as commodity prices soar

The S&P 500 and the Nasdaq opened higher on Wednesday as memory-chip firms climbed after SK Hynix's bumper results, while investors looked to upcoming key corporate earnings as the next test of artificial intelligence (AI) trade, alongside the Federal Reserve's rate decision.

Wall St choppy as megacap losses offset chip gains ahead of Fed decision

The Bank of Canada (BOC) hiked interest rates to ward off upside inflation risks posed by higher energy prices, and said it may need to raise borrowing costs further.

Bank of Canada raises rates to 2.5%, says more could be needed

British Finance Minister John Healey announced support to help households through the "global economic storms" with subsidies for energy bills and a freeze in fuel duty for drivers in the first budget plan of Prime Minister Andy Burnham's government.

UK offers billions of pounds of help for households amid global economic storms

<p>Bank Negara Malaysia (BNM) has fined two subsidiaries of AMMB Holdings Bhd (KL:AMBANK) a total of RM552,000 for failing to promptly report cash transactions of RM25,000 and above, following lapses in their reporting systems.</p>


BNM fines AmBank, AmBank Islamic RM552,000 over delayed cash transaction reports

<p>The Malaysian billionaire families behind Maxis Bhd (KL:MAXIS) and U Mobile Sdn Bhd are reviving plans to combine the companies in a deal that could create the country’s biggest wireless operator by market value, people with knowledge of the matter said.</p>


Malaysian billionaires said to revive plan to create nation’s biggest mobile operator

<p>States without sufficient water supply will not be allowed to host data centres, even if land is available, as Malaysia tightens its approval process for new projects, Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani said.</p>


States without sufficient water supply cannot host data centres, says Johari Ghani

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<p><span style="color:#c0392b;"><strong>Summary</strong></span></p>

<p>•&nbsp;&nbsp; &nbsp;While high-profile deals continue (such as the RM132 million sale of Menara Haw Par and other land acquisitions), buyer...

Menara Haw Par deal signals renewed interest in KL’s Golden Triangle

<p>Singapore’s top diplomat got to Jakarta so fast this week that his hosts described the visit as unexpected.&nbsp;</p>


Singapore’s top envoy on mission to soothe Indonesian angst

<p>Berjaya Property Bhd's (KL:BPROP) unit Berjaya Construction Bhd said on Wednesday it will undertake design-and-build works for the Sanglang Port development project in Perlis.</p>


Berjaya Construction to undertake design-and-build works for RM1.2 bil port development project in Perlis

<p>The Securities Commission Malaysia (SC) has paid a visit to Zetrix AI Bhd’s (KL:ZETRIX) headquarters in Petaling Jaya as part of an investigation involving the company, according to sources familiar with the matter.&nbsp;</p>


SC visits Zetrix AI headquarters amid probe, sources say

<p>Datin Seri Rosmah Mansor will vigorously resist a Lebanese jewellery firm’s bid to enforce a High Court judgement in June which had ordered her to pay the firm RM67.5 million over 43 missing pieces of jewellery that had been sent to her in February 2018.</p>


Rosmah to vigorously resist Lebanese firm enforcing RM67.5 mil judgement on her

<p>Billionaire Gautam Adani-controlled Adani Enterprises Ltd returned to profit in the second quarter as newer businesses including airports and data centres scaled up.</p>


Adani flagship returns to profit as newer businesses deliver

<p>AMMB Holdings Bhd (KL:AMBANK) will likely shrug off rising bond yields, and it may be time to start buying shares of the sixth-largest bank in Malaysia again, an analyst said.</p>


AMMB on track with earnings, time to ‘buy’ again — analyst

<p>The rapid backlash against French football star Kylian Mbappe over a perceived insult to Mao Zedong underscores how little room for error remains for celebrities and global brands seeking to tap China’s lucrative market.</p>


Mbappe backlash shows shrinking margin for error in China

<p>Mitsubishi Materials Corporation will stop processing copper and copper alloy strips in Johor as part of reorganisation efforts at the Japanese smelting firm.</p>


Mitsubishi Materials to shut down copper processing ops in Johor

<p>KUALA LUMPUR (Oct 28): Bursa Malaysia Bhd (KL:BURSA) reported on Wednesday that its earnings grew nearly 10% in the third quarter from a year earlier, thanks to higher trading activities.</p>


Bursa Malaysia grows 3Q net profit by nearly 10%, says on track with targets

<p>Standard Chartered (StanChart) on Wednesday hiked its full-year growth and profitability targets after third-quarter income handily beat estimates, sending its shares 8% higher.</p>


StanChart shares soar after it hikes full-year targets and trounces profit estimates

<p>Malaysian advanced materials company and deep-tech unicorn&nbsp;Vertex Material plans to list on the US Nasdaq stock exchange in the second or third quarter of next year, targeting&nbsp;to raise funds of US$300 million (RM1.22 billion) to US$400 million, said its chief executive officer Chris Lai.</p>


Malaysia's Vertex Material plans Nasdaq listing by 2Q-3Q next year, to raise US$300m to US$400m

<p>Israel's currency, stocks and bonds came under pressure on Wednesday as election results showed Prime Minister Benjamin Netanyahu's right-wing bloc performing more strongly than expected, but still falling short of a parliamentary majority.</p>


Israeli stocks fall, shekel weakens as Netanyahu bloc beats election forecasts

<p>The Malaysia Competition Commission is investigating 510 firms over suspected bid-rigging in tenders worth more than RM3 billion across the public and private sectors.</p>


Malaysia Competition Commission probes 510 companies for potential bid-rigging

<p>Opcom Holdings Bhd, now known as Hextar capital Bhd (KL:HEXTAR), co-founder Eric Chhoa Kwang Hua is seeking to list fibre-optic cable protection materials manufacturer Unigel Global Bhd on Bursa Malaysia’s ACE Market to fund its Malaysian expansion.</p>


Opcom co-founder Eric Chhoa’s Unigel Global seeks ACE Market listing to fund Malaysian expansion

<p>Tan &amp; Tan Developments Bhd, the property development arm of IGB Bhd (KL:IGBB), is all set to unveil its mixed-use development — Aviera Bangsar South — in Kuala Lumpur this November.</p>

<p>The freehold project, which has a gross development value (GDV) of RM656 million, comprises the 35-st...

Tan & Tan Developments to launch Aviera Bangsar South next month

<p>JAKARTA (Oct 28): Indonesia's sovereign wealth fund Danantara has submitted a bid to buy a stake in the country's stock exchange as the bourse prepares for demutualisation, the exchange's chief executive said on Wednesday.</p>
