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Daily News

 

Friday
Feb122016

12 February 2016, Friday

Auditing

Sports shoe maker Maxwell ropes in Ferrier Hodgson MH

Construction

Total value of work up 11.2% y-o-y; Johor records highest value

Sunway Construction stands good chance of securing sizeable contracts

Employment

MyEG Services to manage rehiring of foreign workers

Islamic finance

IILM to auction Islamic notes next Thursday

Sime Darby’s proposed Sukuk first step to improving liquidity profile

Oil and gas

Investors likely to vote against CLIQ Energy’s qualifying asset acquisition

Plantations

Felda using unlisted unit to buy into Indonesia’s Rajawali

Kulim’s total cultivated plantation land bank increases to 81,400ha post-acquisitions

Oriental unit acquires 90% stake in concession holder Sumatera Sawit Lestari

Property

Old Malay enclave Kampung Baru to undergo dramatic changes

Housing within and around Kota Kinabalu most in demand

Dynasty Hotel most expensive commercial property on auction market

Telecommunications

Mobikom’s stake in Packet One Networks raised to 73%

Trade

Total trade projected to grow 2% in 2016

ASIA

Autos

Suzuki, VW reach settlement

Food processing

Nestlé India exploring new sales avenues

Shipping

Shipbuilders, container lines and port operators among biggest victims of China slowdown

AUSTRALIA

Arbitration

Doctrinal basis for Mareva injunctions

Banks

ANZ’s push into Asia could have been done differently

Employment

How HR managers can safely navigate legal minefield

Legal profession

Barrister acquitted of wife’s murder and struck off can resume legal practice

CANADA

Construction

Owner bears consequences of choices made in order to save money on project

Insurance

Manulife Financial may not meet growth targets

Net revenue down at Sun Life

Mergers and acquisitions

Dealmaking off to record start

EUROPE

Banks

Deutsche Bank now at centre of ‘too big to fail’ debate

Insurance

Zurich posts ‘disappointing’ set of results, plans turnaround of general-insurance unit

‘Further kitchen sinking on the way’

Oil and gas

France’s Total looking to sell US$4 billion in assets

Pharmaceuticals

Netherlands-based Mylan to acquire Sweden’s Meda

GLOBAL

Mergers and acquisitions

Party may be winding down

Plantations

New, stricter standard for sustainable palm oil launched

SINGAPORE

Company law

Winding-up application cannot be used to trigger court-ordered buyout under new laws

Finance

BSI banker key link between embattled 1MDB, Swiss private bank and Jho Low

Intellectual property

Singapore’s score improves

Telecommunications

Singtel’s Q3 profit down

UK

Banks

HSBC pay freeze cancelled, board meeting Sunday to decide whether to shift HQ

Oil and gas

BG shares will delist Monday as it becomes fully owned unit of Shell

Property

Buy-to-let investors rushing to buy property ahead of 3% stamp duty tax hike in April

US

Insurance

Prudential Financial profit misses estimates

Intellectual property

US tops globally for IP

Media

Thomson Reuters’ Q4 profit beats estimates

Retail

Nation’s largest supermarket chain Kroger seeking to acquire Fresh Market

Technology

Pandora Media shopping itself around

Thursday
Feb112016

11 February 2016, Thursday

Banks

Hong Leong to keep spending tight and focus on core business

Capital markets

REAL Education projecting growth of 15%-20%, plans to list businesses by 2020

Constitutional law

Civil court has exclusive jurisdiction to grant divorce, custody where one spouse is Muslim convert

Distraught mum pleads for country’s laws to be changed

Interfaith custody will continue to plague lives of families until clear reforms in place

‘Federal Court rewarding wrongdoer’

Earnings

MISC’s FY15 results above expectations

Entertainment

US investigating money flow to and from Hollywood production house owned by PM’s stepson

Food and beverage

Kedah-based Thong Guan to spin off F&B and other consumable product business

Graft

1MDB woes giving foreigners cause for pause before investing

Healthcare

IHH’s Gleneagles Medini could break even sooner than expected

Insurance

Sanlam-backed MCIS eyes top five spot in life insurance market

Islamic finance

Malaysia still top Sukuk hub although performance pales in comparison to end-2014

Imperative to continue addressing challenges that could hamper longer-term growth

Manufacturing

ACE Market-listed Careplus expanding production capacity

Oil and gas

IJM’s investment in Scomi does not seem to be fruitful

Kulim saves on Indonesian purchase

Puncak Niaga closing main O&G subsidiary by end-February

Pharmaceuticals

YSP Southeast Asia not expecting repeat of last year’s stellar performance

Real estate

Some projects seen as catalysts for growth in Iskandar taking longer gestation period than expected

REITs an interesting investment proposition this year

Tax

Lower penalty for voluntary disclosure from March to December

Telecommunications

DiGi.Com’s earnings forecasts downgraded

ASIA

Autos

Japan’s crowded industry could shrink to three or fewer carmakers by 2020

Investment

Indonesia signals greater openness to foreign investment

Mergers and acquisitions

Asahi in exclusive talks to buy SABMiller’s Peroni, Grolsch and Meantime beer brands

Japanese brewer reaching for venerable European brands to add depth to foreign side of its business

AUSTRALIA

Employment

Employee fired for joke on sexual assault loses case for unfair dismissal

Real estate

Stockland reports 51% jump in H1 profit; CEO sees no prospect of crash

EUROPE

Competition

EU looking into possible cartel manipulation of government-backed bond market

Maersk, MSC changing pricing practices to settle probe, stave off possible fines

Staples’ proposed takeover of Office Depot approved

Earnings

Heineken and Carlsberg forecast higher profit

Telecommunications

Telenor’s Q4 earnings trail estimates

SINGAPORE

Capital markets

SingPost reinvests RM3 million of dividends back into Malaysia-listed GD Express Carrier

Dispute resolution

Promoters in dispute over comedian’s show in 2012

Real estate

Boustead Projects’ Q3 earnings up 165%

Frasers Property Australia acquires new project

UK

Graft

UK undertakes own investigations into alleged corrupt practices involving 1MDB

Insurance

Latest casualty of oil price slump; insurers forecast income could dive 20% or more

‘in any way involving’ means ‘indirectly caused by’

Legal services

Bumper year for Shepherd & Wedderburn

Media

Rothschild assisting Pinewood, home to Star Wars and James Bond films, with strategic review

Real estate

King & Wood Mallesons under scrutiny over problems in handling of £40 million finance deal

Tax

US fashion giant Gap faces questions over ‘opaque’ accounts

US

Autos

BMW, VW and Daimler recall 2.5 million vehicles due to potentially faulty Takata airbags

Technology

Twitter in real trouble

Tough to be US$25 billion company again unless it can crack advertising big leagues

Friday
Feb052016

5 February 2016, Friday

Competition

AirAsia, MAS win appeal against RM10 million fine

Investment

Employees Provident Fund launching maiden Shariah-compliant fund in January 2017

Legislation

Cooperatives Act 1993 being reviewed

Media

Astro Malaysia secures broadcast rights to English Premier League for next three seasons

Oil and gas

Hibiscus Petroleum associate Lime could be wound up

Property

MKH’s Amona plans to acquire 84% stake in Temara Pekeliling for RM5 million

Lembaga Tabung Haji not selling but developing Tun Razak Exchange parcel

Rahim & Co hopes for clarity on sale of new homes priced up to RM300k for first-time buyers

Technology

Companies must adapt to new technology or risk falling by wayside

Telecommunications

Maxis’ Q4 profit up 38% on higher service revenue

ASIA

Insurance

Property developers, Chinese firms eyeing US$1 billion insurance asset of Hong Kong’s Dah Sing

Technology

Taiwan’s Foxconn gains upper hand over Japan state fund in Sharp takeover talks

Chairman's enthusiasm and ensuing bidding battle tilt board in Hon Hai's favour

Wealth

Retailers in Hong Kong not cool enough for Chinese mainland tourists

EUROPE

Islamic finance

Malta hopes to attract MidEast firms via Islamic equity index

Oil and gas

Shell’s Q4 profit down 44%

SINGAPORE

Airlines

Intense competition in SE Asia will put pressure on Singapore Airlines’ performance

Food and beverage

Jumbo’s Q1 profit down on IPO expenses, expenditure on third seafood restaurant in Shanghai

Real estate

Boustead Projects’ order book backlog stands at S$305 million

UK

Pharmaceuticals

Trough in AstraZeneca’s profits this year and next before hoped-for resurgence

GlaxoSmithKline’s strategy paying off in defiance of calls for company to break up

CEO gains some time to move at own pace

Telecommunications

Why regulator Ofcom opposes O2-Three merger

US

Earnings

Philip Morris’ 2016 profit forecast below analysts’ estimates

Mergers and acquisitions

Toymakers Hasbro and Mattel have been in talks about a deal

Oil and gas

Relentless fall in crude oil prices takes its toll on ConocoPhillips

Thursday
Feb042016

4 February 2016, Thursday

Airlines

Think BIG Digital to become AirAsia subsidiary

Banks

Public Bank’s Q4 profit up 19% on healthy loans, customer deposits growth

Construction

House prices could increase due to levy hike

Smaller construction firms at risk of closing

Earnings

Malaysia Marine and Heavy Engineering in the red

RCE Capital’s Q3 profit quadruples

Westports feeling effects of slowdown

Energy

Sarawak Energy now exports electricity

Oil and gas

Industry faces prospect of further redundancies

‘Challenge’ for Sona Petroleum, Reach Energy to complete acquisitions

Property

Selangor Properties plans high-end projects on four adjoining parcels in KL

UMLand-UEM Sunrise JV launching The Waves in Johor by year-end

Wing Tai’s property development division records higher operating profit

Former Court of Appeal judge says Bukit Damansara residents were offered compensation to leave

Telecommunications

Stiffer competition among Celcom, Maxis, DiGi and U-Mobile under spectrum reallocation plan

Celcom Axiata hopes to triple subscriber base via Chinese New Year deals

U Mobile may raise funds via bonds, PDS or IPO

Tobacco

Employees Provident Fund disposing of British American Tobacco stake only at right price

Trade

Businesses look forward to greater market access under TPPA

ASIA

Autos

Toyota, Daihatsu in talks to build and sell small cars in India

Toyota will wind down Scion brand in US

Indian carmaker forced to say ‘Tata’ to Zica

Mergers and acquisitions

ChemChina offers US$43 billion for Syngenta in world record takeover deal

HSBC could earn as much as US$95 million in fees

AUSTRALIA

Banks

ANZ clients in line for substantial reimbursements if action on late credit card fees succeeds

Property

QIC acquires majority stake in US shopping centre

EUROPE

Antitrust

Review of Baker Hughes-Halliburton merger extended

Autos

Classic 1957 Ferrari set to become most expensive car to sell at auction

Earnings

Swatch misses estimates

Real estate

Brokerage specialising in historic buildings faces growing competition

NEW ZEALAND

Real estate

Auckland house market starts 2016 with a bang

Trade

Trans-Pacific Partnership Agreement now official

SINGAPORE

Arbitration

Fonterra’s multi-million dollar stoush with Danone starts next week

Insurance

Disgruntled Indonesians start court case against AIA over fake policy sold by rogue agent

Islamic law

Courts have no jurisdiction over ‘wakafs’ under Administration of Muslim Law Act

Real estate

Frasers Centrepoint may list REIT to optimise and unlock value from assets

Shipping

Maersk Line merges Singapore and Hong Kong offices

UK

Airlines

British Airways resuming London-Tehran flights in July

Property

Cost of leasing in Canary Wharf could climb to £44 psf

US

Antitrust

Conditional approval for British aircraft services company BBA to buy US rival Landmark

Technology

Apple must pay VirnetX more than US$625 million for infringement

Microsoft paying US$250 million for London-based Swiftkey

Struggling Yahoo may sell core web operations amid mounting criticism of company management

CEO discusses turnaround plans

Wednesday
Feb032016

3 February 2016, Wednesday

Accounting

Lembaga Tabung Haji depositors can look forward to dividends

Administrative law

Putrajaya granted leave to challenge decision of lower courts in favour of ZI Publications

Autos

Proton JV company in talks to produce Lotus cars in China

Banks

Maybank IB quits advising CLIQ Energy

Capital markets

Bursa Malaysia’s Q4 profit down marginally, CEO cautious about 2016

HB Global appraising potential investors to inject new capital or businesses

Contract

High Court blocks Ampang Jaya council from changing parking system

Earnings

Fraser & Neave’s Q1 profit up on favourable product mix and commodity prices

Economy

Further revision of Budget 2016 if oil prices fall below US$25 per barrel

Levy hike raises ire of 55 trade bodies

Top Glove cuts another 5% of foreign workforce amid higher levy

Investment

1MDB emblematic of why Malaysia becoming a smaller blip on investors’ radar screens

Timing of Swiss, Singapore statements appear to indicate concern Malaysia may seek to bury issue

Islamic finance

Malaysia Building Society fails in second attempt to become Islamic bank

Bank Negara Malaysia auctioning RM1 billion worth of Islamic treasury bills on Friday

Maritime

Drop in ship hijackings attributed to fall in attacks against small fuel tankers around SE Asia

Oil and gas

Sumatec signs third supplemental agreement for proposed acquisition of oilfield in Kazakhstan

Property

JCY acquires property it has occupied for 10 years

Tun Razak Exchange to serve as operation base for Prudential Assurance Malaysia

ASIA

Antitrust

Chinese drug firms fined for colluding to raise price of allopurinol tablets

Insurance

AIA, Manulife and Prudential tumble amid concern China may curb buying of overseas insurance

Indonesia working on new foreign ownership cap

AUSTRALIA

Banks

National Australia Bank raises £396 million from IPO of UK unit

Employment

Calculation of compensation in sexual harassment cases

Circumstances in which employer can rely on past behaviour in justifying termination

Sacking of broker who criticised boss in email to prospective employer was justified

CANADA

Contract

Court implies disclosure obligation to give ‘business efficacy’ to contract

Tort

Recent case introduces another cause of action on basis of disclosure of one’s private life

EUROPE

Autos

Ferrari expects slow sales growth in first full year of independence from Fiat Chrysler

2016 Mercedes-Benz G65 AMG has a staggering price tag

Data protection

EU, US negotiators reach pact to replace Safe Harbour framework

SINGAPORE

Banks

OCBC’s Open Vault unit to drive partnership with fintech start-ups

Capital markets

Bankrupt Malaysian likely to be charged over crash in shares of Blumont, LionGold and Asiasons

Investors who had fingers burnt relieved investigations may soon see closure

Investment

Jho Low’s banker first to be named in probe into 1MDB

First legal case linked to high-profile scandal set to take place here

Oil and gas

Oslo and Nasdaq-listed Subsea 7 moving regional HQ to Kuala Lumpur

Real estate

PropertyGuru faces challenges to position as one of region’s hottest start-ups

Wealth management

Singapore remains a honeypot for IFAs

UK

Oil and gas

BP suffers worst annual loss in 20 years

Property

Islington Square, where apartments range from £715k to £3 million, billed as ‘new Covent Garden’

Retail

Sainsbury’s to buy Argos owner Home Retail for £1 billion

US

Oil and gas

ExxonMobil reports smallest profit since September 2002, scaling back on spending

Pharmaceuticals

Pfizer’s Q4 profit down by half but still tops Wall Street expectations