KUALA LUMPUR (Nov 5): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Sunway Construction Group Bhd (KL:SUNCON) has secured RM920.8 million worth of additional mechanical, electrical and plumbing works for an ongoing data centre development in Johor. The contract, awarded by an unnamed US-headquartered multinational technology company to its wholly-owned subsidiary Sunway Construction Sdn Bhd, is expected to be completed by the first quarter of 2028. — Sunway Construction secures RM921m additional works for Johor data centre

Paramount Corporation Bhd (KL:PARAMON) has partnered with Japan's Mitsui Fudosan to jointly develop a RM1.34 billion serviced apartment project known as The Ashbourne. The development will comprise two residential towers with 458 units, with construction expected to begin in the fourth quarter of 2026 and be completed by end-2030. Paramount will hold a 51% stake in the joint venture, while Mitsui Fudosan will own the remaining 49%. — Paramount partners Mitsui Fudosan to develop RM1.3 bil residential project, targets 60% take-up in first year

Country Heights Holdings Bhd (KL:CHHB) has failed to attract bidders for a second land auction this year, amid ongoing loan defaults. The latest unsuccessful auction involved a 667,147 sq ft leasehold property in Petaling Jaya with a reserve price of RM152.77 million, initiated by MBSB Bank Bhd to recover outstanding debt. This follows a failed auction in September involving a separate land parcel in Kajang with a reserve price of RM55 million, initiated by another creditor over a defaulted loan of about RM35 million. — Country Heights fails to attract bidders for PJ land in second unsuccessful auction this year

Sapura Industrial Bhd (KL:SAPIND) has secured a contract worth approximately RM307 million over four and a half years to assemble front and rear axle systems for Chinese carmaker Chery, marking its first direct engagement with the automaker. The project will be undertaken at Sapura Industrial's new facility in Bukit Beruntung, Selangor, covering axle systems for petrol, hybrid and electric vehicles, including the Jaecoo J5 and models under the Lepas brand. — Sapura Industrial to assemble Chery vehicle axles for RM307m

Binastra Corporation Bhd (KL:BNASTRA) has secured a RM303.8 million contract from PTT Synergy Group Bhd (KL:PTT) to build an automated warehouse facility in Bandar Bukit Raja, Klang, Selangor. The project, awarded to its wholly-owned subsidiary Binastra Builders Sdn Bhd, involves the construction of an automated storage and retrieval system warehouse, an office building and supporting facilities. Construction is expected to begin on Nov 11 and be completed by Sept 30, 2027. — Binastra bags RM304m automated warehouse contract from PTT Synergy

Public Bank Bhd (KL:PBBANK) has established a RM20 billion Islamic medium-term note programme, allowing it to issue senior and subordinated sukuk from time to time. The programme, which has a tenure of 30 years from the first issuance, has received preliminary ratings of AAA for senior sukuk and AA1 for subordinated sukuk from RAM Rating Services Bhd. — Public Bank sets up RM20 bil 30-year sukuk programme

Ancom Nylex Bhd (KL:ANCOMNY) has scrapped 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 final agreements. The cancellation means Ancom Nylex will no longer receive the potential proceeds from the stake sale, although the company said the decision is not expected to materially affect its financial performance for FY2027. — Ancom Nylex scraps RM77m stake sale to Thai chemical distributor

Velesto Energy Bhd (KL:VELESTO) has secured a contract from PETRONAS Carigali Sdn Bhd for its jack-up drilling rig Naga 3, covering one firm well and one optional well, with operations expected to begin in November. The contract value was not disclosed. With the latest award, all six of Velesto's jack-up rigs are fully contracted until at least the end of 2026. The group had a firm order book of RM1.3 billion as at end-July. — Velesto gets contract for Naga 3 drilling rig

Waja Konsortium Bhd (KL:WAJA) has secured a RM190 million contract to build a serviced apartment and affordable townhouse development in Johor Bahru. The 24-month project, awarded to its 51%-owned subsidiary Waja Build Tech Sdn Bhd, involves the construction of a 26-storey serviced apartment comprising 824 units and 24 affordable townhouses. The contract comes four months after Waja exited Bursa Malaysia's Guidance Note 3 classification in July, following the completion of its regularisation plan. — Waja Konsortium bags RM190 mil construction contract in Johor Bahru

Ni Hsin Group Bhd (KL:NIHSIN) has partnered with China's Horwin International Inc to manufacture electric motorcycles for exclusive distribution in Malaysia and Türkiye. Under the agreement, Horwin will supply chassis for two electric motorcycle models, while Ni Hsin's subsidiary will assemble them at its facility in Seri Kembangan, Selangor, using 50% locally sourced components. The first batch is expected to roll out in early 2027. — Ni Hsin partners China’s Horwin to make electric motorcycles for Malaysia, Türkiye

IOI Corporation Bhd (KL:IOICORP) is looking to lease out more of its plantation land for solar projects to diversify its income beyond palm oil, with at least two additional estates identified near major grid connection points. The group is assessing potential sites following interest from renewable energy developers, said managing director and CEO Datuk Lee Yeow Chor. — IOI Corp eyes leasing more plantation land for solar projects to diversify income stream

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. The Practice Note 17 (PN17) company faces trading suspension and possible delisting if it fails to meet the revised deadline or obtain the necessary approvals. Ho Hup slipped into PN17 status in April 2025 after its subsidiary defaulted on RM112.69 million in loans. — Ho Hup gets another six months to submit regularisation plan, deadline now April 2027

Kee Ming Group Bhd (KL:KEEMING) has secured a RM44.17 million subcontract to undertake electrical engineering works for a hyperscale data centre in Puncak Alam, Selangor. The contract, awarded to its wholly-owned subsidiary Kee Ming Electrical Sdn Bhd by an unnamed contractor, covers the supply, installation, testing and commissioning of electrical systems. Works have commenced and are expected to be completed by July 30, 2027.  — Kee Ming wins RM44m subcontract for data centre electrical works in Puncak Alam