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Daily News

 

Friday
May222015

22 May 2015, Friday

Airlines

AirAsia Philippines IPO within next two years

Capital markets

Ahmad Zaki Resources, Gamuda, Ho Hup, IJM and WCT among decliners

Economy

Transport and logistics will be crucial driver of growth

11MP unlikely to give country the push it needs to become developed nation by 2020

Malaysian Aviation Commission will comprise independent experts

Employment

Legal director of Petaling Jaya City Council sacked after two-year investigation

Energy

Tenaga Nasional said to have been called in to take over embattled 1MDB’s power assets

Islamic finance

Malaysian Sukuk market declining in volume

Sukuk’s move away from profit-sharing structures risks weakening value proposition

Oil and gas

Petra Energy’s Q1 profit surges on positive contribution from services segment

Petron Malaysia back in the black

Scomi’s improved FY15 earnings attributed to turnaround in transport solutions division

Property

UEM Sunrise to be more careful about building in Nusajaya

Stalled Aurora Tower at KLCC project could be launched next year

Plenitude’s Q3 profit contracts 13%

Sultan of Johor acquires historic hospital building in Perth suburb for A$8.5 million

Retail

Aeon confident in meeting challenges

Technology

Huawei launching data hosting centre by mid-June

Telecommunications

Government to make broadband more affordable under 11MP

DiGi investing RM900 million in capex

Trade

Cost-benefit analysis of controversial Trans-Pacific Trade Agreement out July

ASIA

Food and beverage

Nestlé’s Maggi noodles in hot water with India’s inspectors

Technology

Rush to win new infrastructure projects likely led to lax controls over profitability at Toshiba

Telecommunications

Telkom looking to raise up to IDR7 trillion to finance infrastructure development

EUROPE

Capital markets

Dutch poised to proceed with IPO of ABN Amro

Consumer goods

New playbook highlights need for financial prowess outside finance department

SINGAPORE

Real estate

Manulife’s planned IPO in H2 may help lift drought for new listings

Technology

Toshiba exits Singapore next week

Telecommunications

Former CEO of P1 joins MyRepublic

UK

Health

Philip Morris likely to be among first tobacco companies to lodge claims over plain packaging

Tax

Head of Formula One faces £1 billion bill

US

Insurance

Insureds and insurers anxiously await guidance from decisions involving ‘cyber’ policies

Intellectual property

DC Comics fights pop superstar’s attempts to trademark given name ‘Robyn’

Technology

Hewlett-Packard’s Q2 profit exceeds estimates

HP sells controlling stake in China unit

Thursday
May212015

21 May 2015, Thursday

Airlines

Malaysia Airlines has contingency plan to prevent deliberate disruption to services

Autos

Perodua targeting to sell a million Myvis by end-2017

Banks

Affin posts 79% drop in Q1 profit

CIMB’s Q1 profit down 46%

Capital markets

MUI appeals against decision to reject change in shareholding of Pan Malaysia

IOI, Tropicana could lose Syariah-compliance status in upcoming Securities Commission review

Economy

Six key thrusts under 11MP

Highlights of five-year economic blueprint

Insurance

Asean Insurance Council planning to execute two-year master plan to drive growth to 7%

Investment

No cash in 1MDB’s Singapore bank account

Property

UM Land launches RM1 billion development in Iskandar’s Nusajaya hub

Water services

Putrajaya, Selangor to complete long-delayed restructuring exercise in 60 days

ASIA

Property

How HK’s high-end projects fare may signal whether recovery in luxury market has further to go

Technology

GrabTaxi adds motorcycle jockeys to its services in Jakarta

EUROPE

Beverages

Carlsberg cuts HQ and regional offices staff by 20%

Telecommunications

Transactions involving European communications companies about to speed up

SINGAPORE

Health

Fitness First gearing up to launch 17,000 sq ft invite-only Gravity club in H2

Property

M Development’s Winsta commences legal action against 13 individuals and parties

UK

Banks

MidEast exodus threatens StanChart’s top five position in debt capital markets

Insurance

Failure to disclose commission made consumer contract unfair

Retail

Marks & Spencer reports first increase in profits since 2011

US

Banks

Barclays, RBS among six major banks fined for forex rigging

Real estate

Great Gatsby author’s Mediterranean-style home for sale at US$3.8 million

Technology

Computer Sciences splitting into two public companies

Wednesday
May202015

20 May 2015, Wednesday

Airlines

AirAsia not selling stake in BIG loyalty programme

Economy

PM to table 11MP tomorrow

Construction sector set to be big beneficiary

Insurance

Tune Ins’ Q1 profit down 14%

Islamic finance

‘AmIslamic Bank’ is now ‘AmBank Islamic’

Media

Star Publications’ Q1 profit jumps

Oil and gas

RM3.5 billion in potential sales at Offshore Technology Conference 2015

UMW O&G aiming to maintain current order book, expand overseas

Plantations

Boustead Plantations’ Q1 profit plummets

Real estate

JCorp confident Al-Salam REIT will attract cornerstone investors

Magna Prima suing Perbadanan Kemajuan Negeri Selangor for wrongful termination of land sale

GUH diversifies into water/wastewater solution projects

Paramount attributes Q1 growth to property division

PJ Development’s construction division expected to contribute to higher earnings in FY15

WCT’s planned REIT deferred to 2016

Plenitude’s offer for Nomad Group fair and reasonable

Telecommunications

Axiata’s Q1 profit drops

Telcos should reinvest revenue in capex

ASIA

Oil and gas

Iran looking to award 56 contracts

Property

Thousands of quake-hit homes in Nepal may face wrecking ball

Technology

Samsung heir apparent’s management style may change way things are done

AUSTRALIA

Intellectual property

Trademark owners not always safe against scrutiny just because marks are registered

Use of bright colours cannot be claimed by one particular outlet to be theirs alone to use

Judgment

Tax

McDonald’s dodged A$500 million in tax by shifting profits through Singapore

EUROPE

Consumer goods

Unilever CFO stepping down in October

Fourth to change finance chief after Heineken, Danone and Nestlé

Mergers and acquisitions

Siemens still has cash to bid for assets that Halliburton is preparing to sell

GLOBAL

Finance

SWFs targeting Asia, Europe, Australasia and Africa

Health

Smoking, not nicotine, is the killer

SINGAPORE

Banks

Founding members of Asian Infrastructure Investment Bank here for 5th chief negotiators’ meeting

AIIB needs strong rules to ensure projects benefit the people who live near them

E-commerce

SingPost redefining role of letter carrier

Real estate

Developers could incur considerable charges if health of real estate market does not improve

UK

Banks

HSBC’s asset quality will continue to hold up well

Plans to segregate UK retail banking operations hit fresh obstacle

Real estate

Developer of Walkie Talkie tower benefiting from rising demand for City of London offices

Qatari royals add town house off London’s exclusive Park Lane to prestigious property portfolio

US

Autos

Takata expands airbag recall to 34 million vehicles

Intellectual property

Heavyweight law firms outflank smaller rivals

Negligence

Determination of when a professional owes a duty to a third party

Rutgers University Law Review article

Real estate

SL Green Realty acquires home of Credit Suisse HQ for US$2 billion

Technology

Hewlett-Packard sued by software reseller MicroTech

Tuesday
May192015

19 May 2015, Tuesday

Airlines

AirAsia in talks to sell minority stake in BIG loyalty programme

AirAsia X’s passenger volume down 17% in Q1

Banks

Maybank exits Papua New Guinea

Capital markets

Scan Associates now a GN3 company

Energy

VSolar expects return to profitability as solar plant kicks off

Islamic finance

Sector can do more in championing measures that protect environment, society and governance

Media

Star Publications to become Star Media Group

Five strategies to reduce reliance on print advertising revenue

Oil and gas

Petronas delays start-up of RAPID complex until mid-2019

Rally in crude prices may not last

JCorp allocates RM468 million to finance unit Kulim’s venture into Indonesia

Property

I-Bhd’s Q1 profit up on higher income from property development

Perduren, to be known as Enra Group, seeks opportunities to expand into O&G

Tax

Putrajaya made GST complicated with the many exemptions to cater to low-income earners

Technology

Asian bank deals will continue to bolster demand for Silverlake Axis’ services

Tort

Perkasa president loses suit against theSun; article justified, daily protected by qualified privilege

ASIA

Banks

New China-led AIIB may forego on-site executive board

Deutsche Bank’s co-heads of corporate finance put on leave; no reason for decisions

Oil and gas

Pertamina opening new office in KL, bidding for majority stake in SE Asia refinery

AUSTRALIA

Airlines

Tigerair declared ‘Australia’s worst-performing airline’ for third year running

Employment

Married bank manager who had affair with team member loses unfair dismissal claim

Manager’s sacking was unfair; conduct not an act of forgery, but a mistake

Former agency operator was a contractor, despite indicators suggesting relationship of employment

Judgment

EUROPE

Antitrust

MasterCard may receive EU complaint before end-July

Beverages

Danish brewer Carlsberg cutting costs at HQ

GLOBAL

Banks

Top financial firms back macroprudential policy tools but urge caution

Insurance

M&A activity picks up

SINGAPORE

Media

SPH alleges content from its newspapers reproduced on socio-political website without permission

Real estate

Global Logistic Properties could add US$5 billion-US$10 billion of assets in US

GIC-Canada Pension Plan Investment Board JV to buy mall in Seoul

UK

Banks

Deutsche Bank first large lender to begin formal review of potential fallout if Britain leaves EU

Employment

No automatic right for employee to pause disciplinary procedure when a grievance has been lodged

Islamic finance

Al Rayan, formerly Islamic Bank of Britain, explores expansion into France

Telecommunications

BT wants Competition and Markets Authority to bypass preliminary review of EE takeover

US

Food and beverage

McDonald’s facing ‘identity crisis’

Oil and gas

Plea deal shines unprecedented light on Schlumberger, oil world’s most secretive operator

Technology

Samsung violated Apple’s design and utility patents, but did not infringe on latter’s trade dress IP

Apple not working on TV

Monday
May182015

18 May 2015, Monday

Airlines

Malaysia Airlines divests stake in Abacus International

New CEO of Malaysia Airlines should have free hand to run national carrier

Autos

EV assembly plant in Kedah operational in July 2016

Beverages

Carlsberg Malaysia ceases to be shareholder of Luen Heng F&B

Capital markets

Kenanga Investors adding to holdings of small-cap stocks

Potential IPO candidates have more convincing to do when they approach investors

Competition

MyCC has closed 18 of 51 cases under Competition Commission Act 2010

Investment

Past, present directors of 1MDB accountable for all decisions leading to financial mess

1MDB pleads for patience pending completion of Auditor-General’s review

20 questions investigators should ask

Overcoming foreign investor misconceptions is InvestKL CEO’s biggest challenge

Islamic capital market

Khazanah Nasional sets precedent for Socially Responsible Investment Sukuk

Property

Coveted French embassy parcels sold to subsidiary of Putrajaya Holdings

Mah Sing looking to go global

MPHB Capital in no hurry to scout for more land

Sports

Olympic Council of Malaysia strapped with highest ever bill after a major multi-sport Games

Country's image tarnished

Telecommunications

Telekom Malaysia keen to sign up SMEs, individual online businesses

Mobile-phone operators should lower call rates

ASIA

Gaming

Macau’s casino operators adding non-gaming features in hopes of winning more gaming tables

Insurance

Bank Rakyat Indonesia explores strategic partnership with foreign companies

Technology

Playing field for iPhone’s Asian component suppliers set to shift

AUSTRALIA

Employment

Degree to which employers may be required to treat policies as binding commitments

Judgment

Property

ASIC chairman fears Sydney and Melbourne already in a housing bubble

Email exchange amounted to immediately binding agreement for lease and licence

Decision

SINGAPORE

Contract

Ezion accused of conspiracy to induce AP Moeller-Maersk unit to breach charter agreements

Data protection

Businesses should establish plan for handling data breach incidents

Employment

Construction worker first to be convicted for conducting EA activities without valid licence

UK

Banks

Barclays faces £250 million fine to settle forex rigging allegations

Civil procedure

Promptness only one of the considerations in determining whether to set aside default judgment

Judgment

Property

Asking prices in England and Wales likely to start picking up again

US

Energy

Court scrutinising how sales of assets to own subsidiaries are carried out

Real estate

Newest condominium tower in Manhattan’s billionaires district now open to buyers

Technology

Alibaba sued by luxury good makers