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Daily News

 

Thursday
Jul302015

30 July 2015, Thursday

Aviation

Investigators trying to determine whether debris found is connected to MH370

Malaysia Airlines’ application to set aside arbitration award to pilots association to be heard August

Capital markets

KWAP now single largest shareholder in Bursa Malaysia

Earnings

British American Tobacco’s Q2 profit down 13%

Financial services

TA Enterprise holding on to lucrative brokerage business

Islamic finance

Malaysia Building Society, Bank Muamalat exploring merger

Manufacturing

Hu-Chems’ first overseas chemical complex will be in Malaysia

Oil and gas

Boustead and Olio Resources to bid for two upstream projects

Property

Mah Sing must decide on acquisition of Puchong land by 26 August

Transport

Report on LRT brake failure incidents will be made public

ASIA

Banks

Hang Seng again rated world’s strongest bank

Gaming

Macau’s history shows gaming industry and economy can change with lightning speed

Insurance

Mitsui Sumitomo first Japanese insurer to venture into Sri Lanka

Intellectual property

US basketball legend’s brand gets dunked on

Technology

Samsung misfires on Galaxy S6 sales strategy

AUSTRALIA

Aviation

Discovery unlikely to alter seabed search for missing jetliner in southern Indian Ocean

Employment

Former architectural draftsperson, a victim of domestic violence, was unfairly dismissed

EUROPE

Antitrust

EuroDisney under probe for unfair pricing policies

Mylan-Perrigo deal would not raise competition concerns

Aviation

Russia vetoes draft resolution to set up MH17 tribunal

SINGAPORE

Airlines

Singapore Airlines’ Q1 profit doubles

Airline agrees to Airbus request

Banks

OCBC, DBS and UOB among world’s 10 strongest lenders

Capital markets

Singapore Exchange reports 24% rise in Q4 profit

Investment

GIC warns of tougher times

GIC finding fresh opportunities to invest in volatile China market

Real estate

Ho Bee Land acquiring 10-storey office property in London for £144 million

UK

Property

Developer behind Wembley Arena Quintain sold to Lone Star for £700 million

Tobacco

Solid set of results for British American Tobacco

Legal challenge to ‘plain packaging’ law likely to be heard in December

US

Technology

Facebook’s Q2 earnings beat predictions but still fail to please investors

Tobacco

Altria and Philip Morris should be back together

Wednesday
Jul292015

29 July 2015, Wednesday

Airlines

AirAsia X teaming up with investors only if price is right

Direct flights to Sapporo from October

Banks

Credit Suisse, CIMB to help AirAsia on bond issues for Indonesian and Philippine associates

Capital markets

Shares in Sunway Construction rise on market debut

Earnings

Caring Pharmacy cautiously optimistic of next financial year

SEGi’s Q2 profit improves

Financial markets

Mortgage lender Cagamas makes debut on SGD bond market

Government

Deputy PM and four others dropped in cabinet reshuffle; A-G also replaced

New Attorney-General a former Federal Court judge who had presided over high-profile cases

Graft

1MDB probe temporarily suspended

Islamic capital market

Political uncertainty, renewed global commodity rout may deter Sukuk issuers

Media

Chairman, publisher of The Edge will be questioned again

Property

EcoFirst Consolidated back in the black

Fajarbaru Builder to launch three projects in Klang Valley and Malacca by end-2016

Jiankun inks JV with landowner Five Star Development to develop serviced apartment

Nusajaya Tech Park, Mitsui to offer build-to-suit properties for leasing in Iskandar Malaysia

Trade

Malaysia, Japan and Vietnam biggest beneficiaries if Trans-Pacific Partnership agreement reached

ASIA

Competition

Hyundai India fined US$66 million for anti-competitive practices

Islamic capital market

New Asian Infrastructure Investment Bank to use Hong Kong for Sukuk issuance

Media

Japan’s Nikkei hopes Financial Times buy will give it a trophy that can compete with major papers in Europe and US

EUROPE

Autos

Germany’s Volkswagen overtakes Japan’s Toyota as world’s biggest carmaker for first time

Intellectual property

Top luxury brands stepping up efforts to combat Web sales of counterfeit and grey-market goods

SINGAPORE

Earnings

SingPost’s Q1 profit up 16%

Technology

Facebook co-founder and Temasek among main investors in Golden Gate Ventures Fund

Singtel fined S$90k for pay-TV disruption

UK

Insurance

Cash-rich Zurich Insurance weighing bid for British rival RSA

Mergers and acquisitions

Industrial manufacturer Honeywell announces first major deal since March 2014

Real estate

Britain clamping down on use of ‘dirty money’ to buy up expensive properties

US

Earnings

Reynolds American’s Q2 profit beats forecasts

Real estate

Global Logistic becomes second-largest owner of US industrial real estate

Technology

Pioneer in education management software Blackboard exploring sale

Twitter’s top executives pledge to address problems with product itself and how it’s marketed

Struggles to increase audience worries investors

Trade

Drug patent rules one of the thorniest issues standing in the way of Trans-Pacific Partnership pact

Dairy part of negotiations at an impasse

Tuesday
Jul282015

28 July 2015, Tuesday

Aviation

AirAsia mulls moving back to old LCCT until issues at klia2 resolved

AirAsia considering court action against Malaysian Airport Holdings

Capital markets

Feedback sought on proposal to enhance sustainability practices and disclosures

Economy

Standard & Poor’s maintains positive sovereign rating outlook for Malaysia

Family law

In Perlis, child’s welfare takes priority over religion in custody battles involving Muslim convert and non-Muslim parents

Graft

Deputy PM, officials told to stop commenting on 1MDB controversy

PM calls for patience on probe

Human rights

Malaysia taken off US blacklist of worst offenders in human trafficking

Infrastructure

Toll rates for PLUS highways up for review in 2016

Legislation

New Bill on child protection with more comprehensive legal provisions to be tabled in October

Oil and gas

Construction of Petronas’ LNG export terminal in Canada to start September

Dayang Enterprise’s takeover offer for Perdana Petroleum unconditional

Property

Melati Ehsan’s Q3 earnings down on lower operating revenue

Technology

Phase 2 of Universal Service Provision project to be awarded next month

ASIA

Airlines

Delta Air Lines takes up 3.6% stake in China Eastern

Autos

Mitsubishi to quit making cars in US; Japan, SE Asia and Russia will be principal production hubs

AUSTRALIA

Franchising

Angry Pizza Hut franchisees launch legal action

Real estate

China Investment acquiring nine Australian office buildings

EUROPE

Antitrust

Alstom to take less for energy business than GE’s original bid to win over European regulators

Earnings

Philips reports better-than-estimated Q2 earnings

Pharmaceuticals

Israel’s Teva solidifies position as world’s No 1 maker of generics

Mylan wins reprieve from unwanted suitor but now faces uphill battle to make own acquisition

GLOBAL

Insurance

More M&A expected in insurance and reinsurance

Management

Shareholder activism now seen as legitimate tool to force improvements in corporate governance

SINGAPORE

Financial regulation

Fight to stem illicit funds leads to quandary of finding enough qualified compliance specialists to check inflows are clean

Insurance

Great Eastern reports 14% rise in Q2 profit

UK

Earnings

Alton Towers tragedy in June could cost Merlin Entertainments up to £47 million

Insurance

Insured company can be sued in claimant’s domicile where there’s a direct claim against liability insurer

Partnerships

Doctrine of repudiatory breach does not apply to LLP agreements

US

Financial services

McGraw Hill to buy SNL for US$2 billion

Trade

Hawaii meeting will decide fate of Trans-Pacific Partnership negotiations

‘TPP favours MNCs over state interests and individual consumers’

Monday
Jul272015

27 July 2015, Monday

Aviation

AirAsia claims defects at klia2 pose potential safety risks

Healthcare

Medicines could cost even more under Trans-Pacific Partnership

Human rights

Country’s human-trafficking record again under scrutiny

Investment

Iskandar Malaysia offers an opportunity to venture into new territory

Manufacturing

Fairchild Semiconductor selling Bayan Lepas facility in realignment exercise

Ipoh-based Hexza gaining ground

Oceancash Pacific confident of better results

Ailing steelmaker Perwaja needs money and expertise

Media

The Edge Weekly, The Edge Financial Daily suspended for three months

The Edge files for judicial review

History of media suspensions in Malaysia

‘Authorities closing the stable door after horse has bolted’

Mergers and acquisitions

Cocoaland still an enticing takeover prospect

Telecommunications

Axiata investing in US-based WSO2.Telco

Transport

Fare hike for LRT and monorail services possible by Q3

ASIA

Airlines

Thai Airways cutting jobs, suspending loss-making flights in revamp

Real estate

Tokyo office rents at their highest since April 2011

AUSTRALIA

Health

Packaging of soft drinks, alcoholic beverages could soon go the way of tobacco products

Real estate

Fortius Funds and Singapore’s SC Capital Partners acquire Bligh House office tower in Sydney CBD

EUROPE

Competition

Finnish telecom equipment group Nokia’s planned purchase of Alcatel-Lucent approved

Wealth management

Chinese investment group Fosun makes takeover bid for BHF Kleinwort Benson

SINGAPORE

Banks

DBS’s Q2 profit up 15% on higher interest and fee income

Earnings

Mainboard-listed Raffles Medical’s Q2 profit up 2%

Insurance

Zurich Life, Axa and AIA upset with Manulife Financial Advisers

Investment

Temasek CEO extending sabbatical until October

UK

Contract

Audit clauses can be enforced by means of court order of specific performance

Decision

Media

Pearson disposing of stake in 172-year-old Economist magazine days after sale of Financial Times

Publisher of The Guardian in line for big cheque from sale or flotation of Top Right

Real estate

Original Scotland Yard police station to be turned into new five-star luxury London hotel

US

Autos

Record US$105 million penalty levied against Fiat Chrysler

Insurance

Anthem reaches US$54 billion to buy rival Cigna, creating largest health insurer in US

Technology

Facebook officials cannot be sued by shareholders

Cases properly dismissed regardless of jurisdiction

Friday
Jul242015

24 July 2015, Friday

Autos

BMW Malaysia’s motorcycle division hopes to breach 1,000 vehicle sales mark

Banks

CIMB anticipates challenging H2

Search is on for new CEO of CIMB Islamic

Capital markets

Speculation on shareholding changes at stockbroker Apex Equity resurfaces

KWAP holds 5.1% stake in generic pharmaceutical products manufacturer Hovid

Companies

Only two Malaysian companies on Forbes Asia’s ‘Fab 50’ list

List

Earnings

Cycle & Carriage Bintang posts 10-fold jump in Q2 profit

Sunway Construction posts Q1 profit of RM34 million

Education

Families with children studying overseas paying more than they had imagined

Graft

Businessman summoned to appear before Public Accounts Committee in September

Legal profession

RM5,000 fine imposed by Advocates and Solicitors Disciplinary Board set aside

Media

Publisher/group CEO of The Edge summoned for questioning over articles

No proof yet Sarawak Report’s exposés on 1MDB are false

Oil and gas

Handal Resources wants to tap opportunities in international O&G sector

Property

Phase 2 of Eco Botanic to be launched in August

Overwhelming response to Mercure Hotel’s sale and leaseback scheme

TAHPS plans township in Bukit Puchong, Selangor

Khind Holdings diversifies into property development and investment, construction

Tort

PM’s lawyer contends qualified privilege not applicable to Harakahdaily portal

Trade

Trans-Pacific Partnership has to be bigger to really make a mark

Transport

Bombardier, Knorr Brake notified of Wednesday’s LRT incidents

Prasarana seeks review of train fares

Special committee to investigate

ASIA

Companies

China dominates annual honour roll of Asia-Pacific’s 50 best big public companies

Insurance

Meiji Yasuda Life acquiring Portland, Oregon-based StanCorp Financial

Property

Foreigners can soon own luxury apartments in Indonesia

Retail

Bata India planning another 100 stores

Technology

Samsung retains crown for world’s leading smartphone vendor

AUSTRALIA

Financial services

Macquarie forecasts higher profit

Intellectual property

Court prepared to require party to transfer domain name at interlocutory stage

Judgment

Tourism

Industry stuck in 20th-century time warp

EUROPE

Antitrust

Formal charges filed against six top Hollywood studios and Sky UK

Berkshire Hathaway can proceed with purchase of Procter & Gamble’s Duracell unit

Consumer goods

Unilever’s Q2 sales growth beats estimates

SINGAPORE

Beverages

Fraser & Neave, Myanma Economic unable to agree on value of 55% stake in Myanmar Brewery

Intellectual property

Company to pay S$35k for selling counterfeit Louis Vuitton wallets

Property

Seafronting bungalow on Sentosa Cove for sale at S$2,325 psf

UK

Beverages

Britvic steps up international expansion

Media

Nikkei trumps Axel Springer in tussle for Financial Times

Nikkei-FT deal makes sense

A more committed owner might have built a business shareholders would wish to keep

US

Autos

Luxury carmaker Ferrari files for New York IPO

Beverages

Maker of Smirnoff and Johnnie Walker brands investigated over distribution practices

Earnings

McDonald’s CEO sees return to growth in H2

Real estate

Bondholders of Darden Restaurants oppose plan to spin off real estate

Technology

Amazon.com posts unexpected quarterly profit