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Daily News

 

Tuesday
Oct212014

21 October 2014, Tuesday

Autos

Malaysia, Indonesia to collaborate on Asean car

VW Malaysia scales back on sales target

Banks

Fate of Malaysia’s biggest banking merger plan rests on 10 individuals

EPF may not get a say

Capital markets

Bread maker High-5 will be delisted Friday

Earnings

Axis REIT Managers’ Q3 profit rises on revaluation gains

Bursa Malaysia’s Q3 profit up 15%

DiGi.Com’s Q3 profit up on Internet revenue growth, larger subscriber base

Insurance

Increased foreign presence in Malaysian insurance industry

Investment

Iskandar Malaysia falls short of promise to give Johoreans better jobs, better lives

Islamic finance

Growth in Islamic ETFs hindered

Qatar’s Barwa Bank added as IILM primary dealer

Manufacturing

Amalgamated Industrial Steel hopeful of narrowing losses for FY14

Oil and gas

Petronas unlikely to accede to Sarawak’s request for higher royalty payment

Property

WCT pays RM115 million for vacant freehold land in Bandar Serendah

SP Setia’s Fulton Lane in Melbourne two months ahead of schedule

Paramount hopes to have market cap of RM1 billion in three years

Retail

CIMB Private Equity buys into operator of 7-Eleven convenience store chain in Indonesia

Tax

KPMG says our GST system one of the best

List of GST-free items: Deloitte recommends keeping it short

Tort

Minister granted leave to amend statement of defence on opposition leader’s defamation suit

Transport

MyTeksi secures US$90 million of investments

MyTeksi wants a more ‘level playing field’ to compete with Uber

ASIA

Gaming

Japan’s ‘integrated resort’ Bill could be carried over to 2015 Parliament session

Mergers and acquisitions

China’s MOFCOM getting better at transparency

Real estate

Singapore’s GIC buys building next to Tokyo Station

AUSTRALIA

Capital markets

Digital billboard firm APN Outdoor will raise A$329 million in IPO

Employment

Tort of intimidation part of the law until High Court of Australia says otherwise

EUROPE

Competition

Mercedes-Benz case illustrates how easy it is to cross the line between legitimate and illegitimate behaviour

Earnings

Philips’ Q3 results hit by slack demand, US$467 million charge

Telecommunications

EU drops threat to levy punitive tariffs on Chinese telecoms exports

NEW ZEALAND

Employment

The Warehouse ‘disappointed’ with court decision forcing them to re-employ security officer

Healthcare

Orion Health eyes listing on NZ, Australian stock exchanges in late November

SINGAPORE

Data protection

Property agent fined S$27k

Retail

Isetan Singapore expects loss for Q3

Telecommunications

Local start-up unveils world’s first personalised URL-based calling service

UK

Insurance

Willis, Miller Insurance in talks

Islamic finance

Ambition to become global hub needs corporate borrowers to take baton

Legal services

Merlin Entertainments GC’s role is to keep company out of firing line of regulators

US

Antitrust

Regulators urged to scrutinise Sysco-US Foods deal

Mergers and acquisitions

AbbVie-Shire deal is off

Technology

Apple struggling to sell iPads

Some reinvention moves not tenable for Big Blue

Yahoo CEO expected to outline cost-cutting efforts, give new details about possible acquisitions

Investors questioning success of Tumblr acquisition 16 months later

Monday
Oct202014

20 October 2014, Monday

Aviation

Malaysia Airports Holdings may gain full control of Istanbul’s second-biggest airport

Minority shareholders of Malaysian Airline System advised to ‘bite the bullet’

Banks

Proposed RTO of IRM on shaky ground

Capital markets

Winn Worldwide IPO on the cards

HeiTech Padu back on investors’ radar

Education

Examinations syndicate, Putrajaya sued over handling of UPSR exam papers

Franchising

Owner of The Chicken Rice Shop still searching for partner in Indonesia

Investment

Employees Provident Fund on track to pay targeted dividend for 2014

Manufacturing

Tax benefits to labour-intensive sectors going automation route aren’t enough

Media

Aliran Monthly goes digital

Oil and gas

Market grappling with slowing growth in Asia and worsening outlook for Europe

Projected earnings of listed service providers are intact

Carimin Petroleum going ahead with November listing

Property

Developers of Battersea Power Station project confident of recovering land cost

PKNS unit Worldwide Holdings scouting for land in niche areas

High-5 Conglomerate wants previous dealings on factory declared unenforceable

Glomac launching Kulaijaya development in Johor by March 2015

ASIA

Aviation

Japan’s first passenger jet unveiled after nearly four-year delay

Islamic finance

Pakistan phasing in new capital adequacy rules for Islamic banking subsidiaries

AUSTRALIA

Aviation

Families of MH17 victims feel insulted by initial US$50k compensation offer

Capital markets

Health insurer Medibank’s IPO could raise up to A$5.5 billion

Employment

Banker’s conduct alone amounted to valid reason for dismissal

EUROPE

Aviation

Pro-Russian rebels to blame for MH17 crash; Germany’s BND first European agency to say so

Capital markets

PE firms see opportunity for deals as IPO markets falter

SINGAPORE

Education

NUS and NTU’s executive MBA programmes among world’s best

Real estate

Keppel Land to redevelop International Financial Centre Jakarta Tower 1 for S$266 million

UK

Employment

‘Last-straw doctrine’ equally applicable to employers

Family law

Ex-Miss Malaysia could be in line for half of Laura Ashley chairman’s fortune after court ruling

Infrastructure

FTSE 100 insurer Prudential is cornerstone investor in £1 billion tidal power station

Intellectual property

Cartier parent wins landmark ruling ordering ISPs to block websites selling counterfeit goods

Retail

Tesco probe unearths evidence of ‘inappropriate behaviour’ by staff

US

Mergers and acquisitions

Investors readying €1.7 billion bid to buy Reebok from Adidas

Lorillard, Reynolds take step forward in pending US$25 billion deal; merger still being reviewed

Technology

Former Google lawyer could be next director of US Patent and Trademark Office

Friday
Oct172014

17 October 2014, Friday

Administrative law

Shariah Court proceeding with Kassim Ahmad’s case despite judicial review

Autos

Taxi booking service provider MyTeksi won’t be injected into Tan Chong

Aviation

Malaysia Airports Holdings’ new chief faces new challenges to fill up klia2

Banks

Complex structure threatens to expose new merged entity to controversial rules under Indonesia’s banking laws

JP Morgan, Maybank and UBS to manage Weststar Aviation’s 2015 IPO

Competition

MyCC issues guidelines on financial penalties and leniency regime

• Guidelines on Financial Penalties

• Guidelines on Leniency Regime

Earnings

British American Tobacco’s Q3 profit higher than last year

Financial markets

Jump in Japanese flows into Malaysian bonds

Investment

RM10 billion pumped into Iskandar Malaysia in Q3

Islamic finance

Murabahah seen to be limiting Malaysian Sukuk market appeal

Manufacturing

Ipoh-based Tasek offers a better dividend yield for investors

Oil and gas

Embattled directors of Protasco deny wrongdoing in aborted deal

Property

Eco World looking to raise as much as RM1.87 billion through country’s first property SPAC

REHDA, CH Williams Talhar & Wong weigh in on measures related to real estate in Budget 2015

ASIA

Insurance

Value of new business in Q3 up 23% at AIA

Telecommunications

XL/STP deal won’t set precedent for tower rental pricing

Wealth management

UBS still largest wealth manager in Asia

AUSTRALIA

Airlines

Virgin cements grip on loss-making Tigerair Australia

Capital markets

Bankers working on Medibank sale expect current volatility to ease before late November

Employment

Sacking of BHP Coal employee who waved ‘scab’ sign was lawful

EUROPE

Consumer goods

Nestlé faces challenging Q4 after nine-month growth miss estimates

Retail

Carrefour’s resilient performance contrasts with difficulties encountered by British rival Tesco

SINGAPORE

Airlines

Tigerair posts huge loss for Q2

Plantations

Wilmar could take longer than expected to convince smallholders to comply with new policy

Aviation

Ferrovial, Macquarie fund now joint owners of Aberdeen, Glasgow and Southampton airports

Capital markets

Luxury shoemaker Jimmy Choo expected to price London listing at bottom of price range

Media

Pay-TV firm BSkyB could end up with larger-than-expected stake in Sky Deutschland

Retail

New Tesco CEO must look at selling assets

Some disposals Tesco could consider

US

Banks

Commerzbank’s sanctions settlement deferred

Hedge funds

October shaping up to be worse than September

Pharmaceuticals

AbbVie pulls plug on plan to buy Dublin-based Shire

Technology

Apple’s faster, slimmer iPads offer few other features to wow consumers

Anyone looking for stop-the-presses new capabilities may be disappointed

Google’s revenue falls short of Wall Street’s expectations

Golden goose showing signs of age

Thursday
Oct162014

16 October 2014, Thursday

Administrative law

Kuala Lumpur City Hall granted leave to appeal against ruling on removal of Bar Council banners

Airlines

Minority shareholders of MAS to vote on buyout proposal next month

Khazanah Nasional’s rescue plan for ailing carrier ‘fair’ and ‘reasonable’

Capital markets

Increased activity in small caps may mean correction is imminent

Earnings

Payment solutions provider GHL Systems sees slower growth in Q3 profit

Islamic finance

Bank Islam taps Sukuk market for first time

Legal profession

Lawyers trade courtroom for the streets; march only the fourth in Malaysian Bar’s 67-year history

Legislation

Feedback sought on draft Bill to amend Development Financial Institutions Act 2002

Media

Daily newspapers could see shift in readership compared with weeklies

Rev Asia aiming to complete disposal of 27.2% equity stake in iCar Asia within a year

Property

OSK Holdings to acquire OSK Property, PJ Development

KSK Group optimistic of good take-up for maiden project 8 Conlay despite slowdown

Daughter of IJM boss making her mark in Melbourne

Technology

Samsung Galaxy Note 4 goes on sale tomorrow

Transport

Keretapi Tanah Melayu may review fares, halt non-profitable routes to reverse losses

ASIA

Autos

Toyota Motor to recall 1.67 million vehicles

Retail

IKEA arrives in Indonesia, opening first store in India next year

AUSTRALIA

Aviation

Still no sign of MH370

Employment

Reasonable grounds to sack Australian Federal Police employee who worked fewer hours than required

Insurance

AIA, MetLife weighing bids for National Australia Bank unit

EUROPE

Antitrust

Deutsche Telekom, Slovak unit fined for shutting out rival broadband Internet providers

Banks

New bankers’ allowance in breach of EU bonus cap, must be changed

Private equity

CVC in exclusive talks to acquire Finnish insulation material maker Paroc

SINGAPORE

Capital markets

SMCCA takes issue with 20-cent minimum trading price

Legal services

Zico Holdings lodges preliminary prospectus for proposed listing on Catalist board

Media

Singapore Press Holdings’ profit for FY 2014 slips 6%

UK

Capital markets

‘Deterioration of global equity markets’ leads Aldermore to scrap IPO

Intellectual property

Specsavers’ ‘wordless’ logo valid, should not be revoked for non-use

Technology

Taxi hailing app Hailo pulling out of North America

US

Earnings

Credit card issuer American Express’ Q3 profit up 8%

Pharmaceuticals

AbbVie reconsiders takeover of London-listed Shire on concerns about US tax-rule changes

Retreat makes it hard for any European board to approve future inversion bid

Technology

Qualcomm edges out Microchip Technology to win British Bluetooth specialist CSR

Wednesday
Oct152014

15 October 2014, Wednesday

Aviation

AirAsia X could defer delivery of Airbus A350s if European economies don’t improve by 2018

Malaysian Airline System seen to cut as much as 25% of capacity next year

Fifteen families of MH17 victims accept airline’s initial compensation payment of US$50k

Banks

Mega merger may spur further consolidation in Malaysian banking sector

RHBCap will gain substantially from exercise

Dispute resolution

Kamdar subsidiary sues trio to recover RM8.7 million

Earnings

Atlan’s Q2 profit up 123% on strong performance of business divisions

GuocoLand Malaysia’s Q1 profit down

Top Glove’s profit down amid intense competition in nitrile glove segment

Energy

2,000MW power plant project in Melaka awarded to 1MDB

Investment

Private sector expected to fund 90% of investment for high-impact projects

Management

Injection of three senior managers first step in Proton’s transformation exercise

Oil and gas

AmResearch downgrades sector

Borneo Oil’s venture into gold mining could backfire

Property

23 Bumiputera developers picked as Kwasa Land’s potential partners for township

Tax

Questions over whether zero-rated and exempted lists too long to manage

Transport

Construction of proposed Bandar Utama-Klang LRT3 should begin by end-2015

ASIA

Healthcare

Malaysia’s IHH, KPJ see good potential in Vietnam

Islamic finance

Japan International Cooperation Agency, ICD to develop Sukuk-focused money markets

State Bank of Pakistan study shows latent demand for products but many obstacles

Real estate

India’s DLF barred from capital markets for three years

Tobacco

Indonesia joins fight against Australia’s plain-packaging laws

AUSTRALIA

Capital markets

Pacific Equity hoping to convince investors only way is up for Australian cinemas

Property

Sale of UGL’s DTZ unit should close in early November

EUROPE

Oil and gas

Sweden’s Lundin Petroleum makes big oil find

Tax

Ireland phasing out loophole used by tech companies to reduce bills

Tobacco

WTO ruling on legal challenge to Australia’s landmark tobacco packaging laws only in 2016

NEW ZEALAND

Capital markets

First judgment dealing with compensation claim alleging misleading statements in securities offer document

Insurance

Zurich NZ to pay just NZ$6 million on quake-hit complex following SC decision

SINGAPORE

Capital markets

Eyecare services provider ISEC seeking to raise US$19.6 million

Insurance

Morgan Stanley tasked with finding DBS new partner

Real estate

Proposed single-tier leverage cap of 45% could raise risks to S-REIT sector

Slumping property prices among biggest risks for economy

UK

Construction

Beleaguered Balfour Beatty raids defence research firm Qinetiq for next boss

How court can be reluctant to fill contractual hole when counterparty in weak financial position

Property

Royal Mail’s former central London sorting office sold to Hotel Properties for £111 million

US

Antitrust

South Korea-based Asiana Airlines to pay US$55 million

Banks

Citigroup pulling out of consumer banking in 11 markets

Intellectual property

Iconic shoemaker Converse sues 31 companies for copying design of trademarked Chuck Taylors

Management

Darden, HP shake-ups symbolise end to war of aggression between corporate America and shareholders

Technology

Hewlett-Packard, EMC end merger talks