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Daily News

 

Friday
May272016

27 May 2016, Friday

Aviation

Malaysia Airlines bracing for weaker Q2

Australia, China and Malaysia should keep looking for missing MH370

Banks

Alliance Financial’s Q4 profit rises

CIMB’s Q1 profit jumps 40%

Hong Leong Bank, Public Bank and StanChart increase BLRs

Capital markets

15 companies removed from list of Shariah-compliant securities

List

WCT deferring construction IPO

ShareInvestor Malaysia looking to attract 60,000 visitors to first consolidated resources portal

Earnings

Bina Puri’s Q1 profit down 34% on lower sales from construction, property divisions

Lower meal offtake drags Brahim’s into fourth consecutive losing quarter

CCM could turn profitable after disposing of fertiliser facilities in Sabah and Sarawak

IJM’s higher profit attributed to one-off gains from disposal of equity interests in subsidiaries

Healthcare

IHH’s Q1 profit up 37%

Insolvency

Sumatec Resources served with winding-up petition

Management

Asia Poly CEO quits

Oil and gas

Petronas extending LNG supply to Jovo until 2023

Shell Refining not out of the woods yet

Property

Steady demand for luxury homes worth RM10 million and above from local UHNWIs

Slight decline in Mah Sing’s Q1 profit

Record sales for Eastern & Oriental; MD redesignated executive deputy chairman effective July

Retail

7-Eleven investing RM85 million to RM90 million in new stores

Tort

Senior lawyer, ex-Court of Appeal judge’s move to censure Umno lawyer for conduct was justified

Umno lawyer will appeal

ASIA

Autos

Lazard helping embattled Takata tackle financial and other problems amid air bag recalls

Intellectual property

China’s massive counterfeit problem raising questions about seriousness in fighting fakes

Islamic finance

Indonesia’s zero-tax plan set to inject new life into ailing industry

AUSTRALIA

Arbitration

Carefully plan investment structure at the time it is made before foreseeable disputes arise

Aviation

Authorities to test newly found pieces of debris for links to missing MH370

Banks

Ratings of ANZ, CBA, NAB and Westpac affirmed at AA-

EUROPE

Capital markets

Philips hives off part of lighting unit

Sport

Family of late French F1 driver taking legal action over his death

Tax

Burger chain McDonald’s French HQ searched

GLOBAL

Islamic finance

Standardisation of deals might spur Sukuk market

Real estate

Four homes that have successfully integrated their architecture into landscape to stunning effect

Sport

Man United worth the same as Real Madrid

SINGAPORE

Financial services

Arton Capital sets up new office

Retail

Courts Asia’s profit up 17% despite lacklustre retail landscape

UK

Banks

Santander UK claims first British lender to use blockchain for global payments

Retail

Struggling Debenhams appoints Amazon executive as new CEO

M&S, Debenhams grappling with rise of online shopping

Tax

HM Revenue & Customs correct to ignore arrangements without ‘business or commercial purpose’

US

Arbitration

Appeals court strikes down clause banning employees from joining together as a class

Autos

US Virgin Islands joins Hawaii in suing Takata, Honda

Technology

Facebook, Microsoft installing undersea cable to help speed up global internet services

Strong investor interest in Snapchat

Alphabet’s Google handed major victory in long-running copyright lawsuit against Oracle

Thursday
May262016

26 May 2016, Thursday

Aviation

AirAsia wants to increase destinations and flights in China

Moratorium over transition of Malaysian Airline System Bhd extended until May 2017

Malaysia Aviation Group, Lufthansa Technik setting up regional MRO facility

Family of missing MH370 passengers allowed to obtain audio recordings, communication transcripts

Rayani Air could lose licence

Banks

Fintech regulatory framework ready by July

Governor’s speech

Capital markets

RHB Investment Bank remisier’s licence revoked for ‘improper’ transfers into wife’s account

Earnings

AWC’s Q3 profit up tenfold, driven by stronger performances across all business segments

Sime Darby’s Q3 profit up 60%, CEO sounds note of caution

Investment

Troubled 1MDB pays BNM fine for non-compliance

1MDB’s asset transfer to MoF Inc likely completed by mid-June

Mergers and acquisitions

Cash-rich Puncak Niaga pursuing M&A opportunities in environment-related businesses

Property

Good start for I-Bhd

Year-end launch for RM1 billion Central Tower

Ivory Properties to acquire Alshem Development for RM18 million

UOA Development’s Q1 profit up 22%; will focus on Greater Kuala Lumpur

UDA boss defends how company helps bumiputera agenda using property development

Telecommunications

Axiata taking another look at proposed merger involving Bangladesh unit

Telekom Malaysia’s Q1 profit surges 150%

ASIA

Autos

Nissan CEO likely to get scissors out again in order clean up Mitsubishi’s image

Health

Indonesia's child labourers being poisoned at work

AUSTRALIA

Airlines

Potential buyers eyeing Air NZL’s stake in Virgin Australia

Property

A$1 billion facelift for Darling Harbour

CANADA

Banks

Bank of Montreal cutting workforce in shift towards digital banking

Real estate

China’s Anbang to gain full ownership of Vancouver’s largest office complex, Bentall Centre

SINGAPORE

Banks

BSI in ‘comfortable position’ in terms of liquidity

Wake-up call for wealth managers in Asia

Capital markets

Singapore Exchange recruiting more participants to bond trading venue

UK

Competition

FM Models, Storm among five top model agencies accused of collusion and price fixing

Shipping

Baltic Exchange in exclusive talks with Singapore Exchange following latter’s attractive proposal’

US

Accounting

Chinese e-commerce company Alibaba’s accounting practices under probe

Capital markets

Owner of Titleist and Footjoy golf brands preparing for IPO

Intellectual property

Duracell and Energizer’s legal tussle over right to use rabbit mascot can proceed

Duracell must face claims its bunny confuses consumers and irreparably harms Energizer

Technology

Apple investigating how to charge electric cars

Big automakers and ride-hailing and transportation start-ups rewriting playbook

Wednesday
May252016

25 May 2016, Wednesday

Administrative law

Environmental organisations allowed to challenge decision to close Ampang Forest Park

Airlines

AirAsia X swings back to profit for second straight quarter

Autos

Toyota investing ¥50 billion in new, 50,000-cars-a-year factory

Honda expands recall to City, Civic, CR-V, Jazz, Insight and Stream

Banks

1MDB fallout has led to wider collapse in Goldman Sachs’ once-thriving business in Malaysia

Affin profit soars 284%, but investment banking arm’s pre-tax profit down 27%

Hong Leong Bank posts Q3 profit of RM498 million

Capital markets

EcoWorld IPO may be deferred to September

China Stationery reprimanded, six directors fined a combined RM59,600

Earnings

Genting’s profit declines due to lower EBITDA

Malakoff’s Q1 results below expectations

TH Heavy Engineering’s Q1 loss widens

UMW’s Q1 profit down 90%, expects weaker performance for auto segment

Investment

1MDB hasn’t been contacted by any international legal authority

Employees Provident Fund braces itself for difficult year

Islamic capital market

Bank Muamalat setting up RM1 billion Sukuk

Legislation

Changes to land acquisition procedures necessary especially for infrastructure development

Road Transport (Amendment) Bill 2016 tabled for first reading

Oil and gas

Petronas not in talks with Russian entities on disposal of assets

Plantations

Astral Asia should be back in the black in FY16

Felda Global Ventures slips into the red primarily on lower CPO production

TH Plantations in the red, attributes loss to lower oil palm production

Property

IOI Properties expects segment to pick up only next year

IGB evaluating offer for its 20-year-old, 910-room Renaissance Kuala Lumpur hotel

SP Setia launching first phase of Setia EcoHill 2 next month

TRC Synergy beefing up property division, finalising Ara Damansara development

ASIA

Accountancy

Deloitte SE Asia expands to Myanmar

Corporate governance

Outside directors now a sizeable presence in Japanese boardrooms

Investment

Indonesia opens up new sectors to foreign businesses

Technology

Huawei files lawsuits in US and China against Samsung, claims infringement of smartphone patents

AUSTRALIA

Employment

Chauffeur awarded A$10,620 for unfair dismissal

Employers seeking to dismiss foul-mouthed staff must still take time to properly execute termination process

Wealth

Three property developers youngest debutantes on this year’s BRW Rich List

EUROPE

Antitrust

Conditional approval for AB InBev-SABMiller merger

Banks

Swiss regulator FINMA approves takeover of BSI by Zurich-based EFG International

Technology

Google’s Paris HQ raided; software giant suspected of evading taxes

SINGAPORE

Banks

BSI sent packing; first time in 32 years MAS has taken such action against a bank

BSI Singapore opened more than 50 accounts for Malaysian financier Jho Low

Compliance folks real winners from Singapore’s banishment of BSI

Real estate

CityDev may seek office acquisitions, ‘aggressively’ working on two JV deals

UK

Banks

Fintech firms, foreign nationals dropped to cut cost of complying with tougher rules

Real estate

New public register of beneficial ownership: Is it a trend, and just where might it end?

US

Antitrust

Setback for major banks as appeals court reinstates lawsuit accusing them of Libor manipulation

Insurance

Industry risks losing money if it doesn’t change its investment strategy

Mergers and acquisitions

Bayer’s US$62 billion bid for Monsanto rejected as ‘incomplete and financially inadequate’

Real estate

Seven multimillion-dollar homes that can command premiums for eco-friendly feature

Technology

Hewlett Packard Enterprise to spin off, merge struggling IT services unit with Computer Sciences

Toyota, Uber to collaborate on ridesharing

Tuesday
May242016

24 May 2016, Tuesday

Autos

Proton recalls Inspira and Exora CPS 1.6

BAuto has not reached ‘definitive agreement’ with South Korea’s Ssangyong yet

Aviation

KLIA Aeropolis mixed-development project launched

Malaysia Airports forms five partnerships

Malaysia Airlines leasing two new Airbus A350-900s to complement four on order

Capital markets

Sime Darby looking to list Weifang Port in China

SapuraKencana may be dropped from FBM KLCI

Earnings

Cement manufacturer Lafarge Malaysia’s Q1 profit down 72%

Landmarks’ Q1 loss widens

Finance

Troubled 1MDB committed to resolving dispute with Abu Dhabi’s IPIC

Ringgit still biggest gainer among regional peers after the yen

Legislation

Gas Supply (Amendment) Bill 2016 passed

Management

Dutchman assumes MD post at British American Tobacco next month

Media

Singapore-listed Cityneon poised to play more meaningful role in Star Media’s bottom line

Property

Sunsuria appoints new CEO

ASIA

Airlines

VietJet finalises order for 100 Boeing jets

Banks

UBS cuts private bankers in Singapore and Hong Kong

Technology

Toshiba slashing capital base

AUSTRALIA

Banks

ANZ may offload part of or entire life insurance and pension product unit to boost capital

Co-head of investment bank Greenhill joining as CFO in July

Employment

Misconduct by employees must be dealt with thoroughly

Intellectual property

Australian Leather sued over use of ‘ugg’ by US shoe giant Deckers

EUROPE

Insurance

AXA could be first global insurer to ditch tobacco

Mergers and acquisitions

Unilever, Henkel, L’Oréal submit first-round bids for OGX shampoo maker Vogue

German conglomerate Bayer offers US$62 billion for US seed maker Monsanto

SINGAPORE

Arbitration

Singapore International Commercial Court issues first written judgment

Property

Hong Kong tycoon acquires prime site off Orchard Road for S$145 million

Hotel would be perfect fit for company

Retail

More retailers could close shop as vacancies in Orchard Road rise to five-year high

UK

Insurance

Legal & General acquires £3 billion annuity portfolio from rival Aegon

Purchase of annuities won’t affect L&G’s ratings

Real estate

Competition & Markets Authority warns privatisation of Land Registry would harm consumers

City of London Corporation will have a new surveyor in October

US

Autos

Toyota adding 1.6 million more cars to Takata airbag recall

Mergers and acquisitions

Time to look closely at how allowing Monsanto deal could hurt farmers and environment

Monday
May232016

23 May 2016, Monday

Banks

Fintech’s presence, while nascent, not to be taken lightly

Construction

Ekovest making more effort to engage investors

Corporate

UEM Edgenta still has more to do in blending businesses

KUB focuses on core businesses of energy, plantations and ICT

Energy

Edra Power plans RM400 million solar power plant in Kedah

Management

Group CEO of Tune Protect quitting in July for personal reasons

Oil and gas

SAMUR and Rapid projects give Petronas Chemicals some hope

Wah Seong expects another challenging year

Plantations

Good time for MKH to take plantation business to next level

Private equity

PE remains restrained in SEA

Property

Tropicana set to report strong results in remaining quarters

TheEdgeProperty.com turns one, unveils new look

Telecommunications

DiGi.Com CEO could be facing most challenging transition period for industry yet

Transport

Putrajaya considering whether to make Uber or other similar services legal

AFRICA

Aviation

EgyptAir MS804 sent radio messages about smoke before controllers lost contact

Robot submarine joins hunt; ships, planes still trying to locate black boxes

Preliminary report into deadly EgyptAir crash within a month

Oil and gas

Shell, Exxon Mobil most exposed to violence in Niger River delta

ASIA

Sport

Great Danes shatter Indonesia’s hope of securing 14th Thomas Cup title

Technology

Apple CEO outlines vision for company on first trip to India

Samsung must still convince investors recent improvement is sustainable

AUSTRALIA

Aviation

Law firm files compensation claim against Russia on behalf of families of MH17 victims

Media

Catcha CEO’s goal is for iFlix, Asian version of Netflix, to get a whole lot bigger

EUROPE

Mergers and acquisitions

AB InBev takeover of SABMiller set to win conditional approval

Real estate

18th-century neoclassical mansion in France’s Loire Valley on the market for US$11.4 million

SINGAPORE

Dispute resolution

Co-founder of Ku De Ta sues ex-business partners; latest twist in high-profile saga that began 2014

Real estate

Lion City’s largest office REIT acquires remaining 60% stake in CBD office tower

UK

Autos

No word on when — or if — Aston Martin will produce Vanquish Zagato Concept

Tobacco

Industry loses last tool to entice young customers to take up smoking habit

US

Antitrust

Quarrels behind landmark Anthem-Cigna deal could delay or derail antitrust approvals

Employment

Sexual harassment less blatant, but complaints about pay and promotion disparities persist

Technology

Apple overhauling 480 stores worldwide, starting with San Francisco

Company trying to reboot customer experience and, hopefully, reignite iPhone sales