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Daily News

 

Thursday
Aug282014

28 August 2014, Thursday

Airlines

Putrajaya approves latest restructuring plan for Malaysia Airlines

Malaysia, Australia sign cost-sharing agreement on MH370

Banks

RHBCap reports 35.6% increase in Q2 profit

Competition

MyCC appoints new members, retains chairman for second term

Constitutional law

Ministry yet to return Jill Ireland’s compact discs

Dispute resolution

Court of Appeal dismisses Halim Saad’s appeal to reinstate RM2 billion suit

Earnings

MMC’s Q2 profit triples

Parkson’s Q4 profit down

Labour

42 men arrested after riot at JCY factory

Property

Dolomite sues Selayang council for RM400 million over cancelled Batu Caves project

Hua Yang still on lookout for opportunities in Penang and Kota Kinabalu

Local demand for luxury condominiums expected to weaken, primarily in KLCC area

Telecommunications

Axiata’s Q2 profit down on forex losses, slower growth and acquisition costs

Celcom may be still under revenue pressure in Q3

Telekom Malaysia’s group revenue rises on Internet, multimedia services

Transport

Uber told to comply with the law

ASIA

Real estate

PE firm Carlyle in advanced talks to buy stakes in nine of China Vanke’s malls

Technology

Poster boys for Asian techpreneurship set to be reunited next month

AUSTRALIA

Airlines

Qantas shocks with record A$2.8 billion loss

New holding structure allows investors to take stake of up to 49% in international arm

Consumer goods

Rising wave of investor interest in A$4 billion dairy sector

Healthcare

Ramsay Health Care posts 14% rise in full-year net profit

EUROPE

Food and beverage

Swiss cheese industry turns to DNA fingerprinting to fight counterfeits

Graft

Head of International Monetary Fund under formal investigation

NEW ZEALAND

Airlines

Air New Zealand sees third consecutive year of strong earnings

Insurance

Supreme Court ruling radically changes basis on which insurers were paying out for building claims

Intellectual property

Fisher & Paykel Finance did not steal parts of Karum’s credit management software

Property

Luxury penthouse sold off the plan for more than NZ$5 million

SINGAPORE

Agriculture

Malaysian-funded initiative Agrobazaar opens

Competition

CCS warns government-linked firms against anti-competitive behaviour

Data protection

Tuition agency, director fined S$80,000

Leisure

Straco among frontrunners to buy iconic Singapore Flyer

US

Real estate

Paramount plans to raise more than US$2.5 billion in IPO

Technology

Alibaba’s Q2 revenue up 46% y-o-y; revenue growth still outpaces Amazon’s

Wednesday
Aug272014

27 August 2014, Wednesday

Airlines

Cabinet discusses Khazanah-approved restructuring plan for Malaysia Airlines

A quarter of MAS staff may lose their jobs

Employees left in the dark about their future

Autos

New dealership deal between DRB-Hicom and Audi said to be awaiting green light

Banks

Hong Leong Bank targets industry loan growth of 10% for FY15

Capital markets

PM launches book commemorating Securities Commission’s 20th anniversary

Earnings

Brahim’s Q2 profit down on huge decline in in-flight catering, related services business

Carlsberg Brewery Malaysia posts 29.5% growth in Q2 profit

7-Eleven’s Q2 revenue up 14%

Oil and gas

Shell finds more gas offshore

Tax

Pawnbrokers say pledged items should not be subjected to GST

ASIA

Antitrust

Tata, Honda and VW among 14 carmakers fined by Competition Commission of India

Autos

Toyota Motor’s ratings affirmed at ‘A’ with stable outlook

Real estate

China’s sector showing signs of strain

AUSTRALIA

Healthcare

Healthscope on track to meet guidance for current financial year

Property

Lend Lease benefits from sale of stake in UK mall

EUROPE

Antitrust

Chipmaker Qualcomm faces probe related to four-year-old complaint from Nvidia unit

Autos

Volvo unveils first car under Chinese ownership

GLOBAL

Health

World Health Organisation wants tougher regulation of e-cigs

Intellectual property

Careful planning, protection of designers’ IP rights may help them avoid ultimate fashion faux pas

Mergers and acquisitions

Activity across US, Europe and Asia strong throughout the year

SINGAPORE

Intellectual property

Malaysian snack maker Kimanis Food Industries allowed to continue using ‘Angry Bite’ branding

Mergers and acquisitions

OCBC, Great Eastern in exclusive talks to sell stakes in United Engineers to Thai magnate

UK

Banks

Royal Bank of Scotland faces £15 million fine over mortgage advice to customers

Negligence

Claimant’s solicitors negligent in assisting in purchase of yacht, but error had not caused loss

Judgment

US

Antitrust

London Metal Exchange dismissed from group lawsuit

Intellectual property

IKEA fan site cannot allege anti-competitive behaviour using unclean hands doctrine

Litigation

Philip Morris USA must defend whistleblower lawsuit over cigarette pricing for military

Mergers and acquisitions

Burger King, Tim Hortons tie the knot

Deal underlines market savvy that’s helped Oracle of Omaha build his fortune

Technology

Apple preparing larger iPad for 2015

Tuesday
Aug262014

26 August 2014, Tuesday

Airlines

Malaysia Airlines revamp will put to test PM’s resolve in finally weeding out ineffective GLCs

In-flight catering company’s RM6 billion, 25-year contract coming under review

Cost of reviving Malaysia Airlines could hit RM5 billion

Banks

HSBC appoints head of commercial banking

Capital markets

Retail investors advised to exercise caution and “self discipline”

Earnings

Boustead’s Q2 results affected by lower earnings from plantation division, softer quarter for Affin

Felda Global Ventures bracing for more difficult H2

GuocoLand’s Q4 revenue down on lower contribution from Old Klang Road project

United Plantations’ Q2 profit down nearly 20%

Islamic finance

Bank Negara Malaysia’s new ruling will enhance Islamic framework

CIMB Islamic’s RM5 billion Sukuk still awaiting Securities Commission’s approval

IILM lengthens maturities in Sukuk programme

Legislation

Three major changes to Malaysian Anti Corruption Commission Act 2009 to be tabled in November

Real estate

Regulation main hurdle to iProperty’s move to sell property online

Andaman Property Management targeting RM1 billion in sales

KWAP hopes to close deals for KL properties by this year

Tax

Inland Revenue Board in hot pursuit of tax defaulters

Tort

Fuelsubs demands The Edge Financial Daily reveal sources

Selangor MB’s defamation suit against MACC chief commissioner settled

Halim Saad claims former Finance Minister II libelled him in 2011 book

ASIA

Airlines

Asian carriers struggling to eke out profits

Property

Singapore’s GIC in talks to buy 32-storey office tower in Tokyo’s Chiyoda area

SINGAPORE

Autos

United Engineers’ WBL sells automotive business for S$455 million

Financial services

AmFraser Securities sold to unit of Taiwan’s China Development Financial

Insurance

Motorist who took 18 months to inform insurer of S$200 composition fine told to pay it back

UK

Accountancy

Deloitte UK suffers slowdown in growth

Construction

Architect owed contractual duty to developer in respect of inspections

Family law

Divorce process now less drawn out, but also often less fair

Fashion

Master tailors looking towards China to tap growing appetite for bespoke suits

US

Capital markets

Standard & Poor’s 500 breaks 2,000 level for first time

Employment

Email cannot be transformed into privileged communication simply by copying an attorney

Mergers and acquisitions

Putting multiple fast-food brands under one roof could be a risky strategy

Inversion won’t lower Burger King’s tax rate dramatically

Inversions likely to slow but won’t completely stop

Technology

Amazon.com adds live-streaming gaming network Twitch Interactive to roster

Monday
Aug252014

25 August 2014, Monday

Aviation

Transport minister in Australia to discuss search efforts for MH370

Next phase of hunt very challenging in places; seabed in some locations extremely rugged

Unprecedented tragedy shows industry’s capabilities of tracking aircraft are limited

Khazanah Nasional discussing proposals for Malaysia Airline System tomorrow

Banks

CIMB not aspiring to be bigger than Maybank

Capital markets

Penny stock euphoria is full on

Earnings

Lion Corp in the red

Tan Chong Motor’s Q2 profit down 20% due to price war

TIME dotCom’s Q2 revenue rises

Franchising

Owners of nasi kandar restaurant Hameediyah taking franchise route

Healthcare

Employment opportunities in medical devices sub-sector to double by 2020

Islamic finance

Rapid growth can only be sustained with continuous supply of talent

Sunway unit to launch RM2 billion Sukuk Mudharabah

Leisure

Proposed Malaysia Truly Asia Centre project goes back to drawing board

Property

Hatten plans biggest mall in Negri Sembilan, venturing into Pahang next year

Hektar REIT’s Q2 net property income up 4%

Publishing

Court of Appeal judges lambast JAWI for Borders raid

Sport

Ex-Cardiff City manager used racial slur on Malaysian owner

Accusations of discrimination have not focused on systemic racism that pervades organisations

Telecommunications

DiGi is sole Malaysian company, and only telco from Asia, on Forbes list

'World's Most Innovative Companies' list

Transport

Masteel-KUB’s JV proposal for intercity rail project in Iskandar Malaysia unlikely to be approved

Local companies claim can build KL-Singapore HSR link at lower cost

Taxi drivers want Land Public Transport Commission to act against Uber

ASIA

Competition

Crackdown has hit Japanese auto parts suppliers hardest

Islamic banking

Dubai Islamic Bank seeking to raise stake in Indonesia’s Panin Syariah

Real estate

China State Construction Engineering’s H1 profit up 34%

AUSTRALIA

Airlines

Perth passenger recounts alleged abuse on board Malaysia Airlines flight to Paris

Construction

ATO, ASIC paying special attention to phoenix activity

Employment

Risk of one lawyer doing both an investigation and advice on same matter

Judgment

EUROPE

Autos

Tide beginning to turn against German luxury automakers

Banks

Royal Bank of Scotland could break up Coutts to attract Asian buyers

SINGAPORE

Arbitration

Parties warned against using courts to ‘launch backdoor appeals’

Autos

Malaysia’s Samling nears deal to buy United Engineers’ luxury car distributor

Legal profession

Lawyer with bipolar disorder struck off for embezzling

UK

Intellectual property

UK IPO successful in claim for passing off

Real estate

Iconic Gherkin skyscraper expected to sell for more than £650 million

US

Intellectual property

US Copyright Office says animals, ghosts and gods cannot hold copyright

Mergers and acquisitions

Burger King in talks to buy Canadian coffee and doughnut chain Tim Hortons

Pharmaceuticals

Roche to buy InterMune for US$8 billion in cash

Friday
Aug222014

22 August 2014, Friday

Airlines

Bodies of 20 Malaysian victims of MH17 arrive home

RM7 million in compensation still unclaimed

Celcom CEO likeliest candidate to take over helm of troubled Malaysia Airlines

Leadership change won’t fix all of carrier’s problems

Forex gains help AirAsia report profit that beat estimates

AirAsia could emerge as final victor

Banks

Mega bank merger: EPF will end up as single largest shareholder, followed by Khazanah Nasional

AMMB keeps options open on M&A amid shrinking pool

Earnings

Guinness Anchor’s quarterly revenue largely flat

Magnum’s pre-tax profit for Q2 rises

Pos Malaysia’s Q1 profit down 38%

Insurance

Zurich Insurance expects larger market share within four years

Oil and gas

Dialog’s Malaysian operations report higher revenue

Petrovietnam in talks for loan to acquire stake in Murphy Oil’s Malaysian assets

Private equity

Creador raises RM950 million for second fund

Ekuinas buys into Orkim and CoolBlog to expand O&G and F&B portfolios

Property

Rehda wants GST for properties below RM400k to be zero-rated

Gen Y balk at paying RM400k and above for a residential unit under 450 sq ft

Selangor Dredging has 18 developments under its belt

Budget-friendly PR1MA and PKNS projects

Retail

Thailand’s Central Pattana opening first mall here in 2017

Takaful

Operators should merge due to potential limited growth prospects, insurmountable competition

Tort

Former minister’s defamation suit against Lembah Pantai MP settled

ASIA

Airlines

Scoot’s new JV carrier in Thailand taking off in Q1 2015

Family law

Hong Kong seen as divorce capital of Asia

AUSTRALIA

Aviation

A nightmare year for white-knuckled air travellers

Employment

Employer’s decision to pay flat rate, regardless of award entitlements, was ‘deliberate and calculated’

Judgment

Daiso Australia caught short-changing staff for second time

Company to back-pay all outstanding entitlements, post notices

Gaming

Crown Resorts’ Melbourne casino licence extended by 17 years

SINGAPORE

Competition

CCS seeks views on plans by Seek and Seek Asia Investments to acquire certain assets of JobStreet

Education

MindChamps PreSchool opening first centre in KL by Q2 2015, in Australia by 2016

Land

Condo unit owners not responsible for repairing defects in structural beams above their properties

Oil and gas

McGraw Hill unit Platts consulting with traders on proposal to change loading points from next July

Property

OCBC in talks to sell stake in United Engineers to Thailand’s richest man

UK

Contract

Court of Appeal found irreconcilable conflict, had to rely on ‘hierarchy’ clause

Court willing to implement clearly drafted contract even if it underlines bad bargain one party has potentially entered into

Courts will interpret limitation clauses strictly, provided clear and unambiguous

Judgment

Insurance

RSA selling business in Singapore and Hong Kong to Allied World Assurance

Mergers and acquisitions

Pfizer looking at other possible targets while it weighs renewed bid for AstraZeneca

Property

Taiwan’s Cathay Life Insurance acquires prime property in London

US

Antitrust

Berkshire Hathaway fined US$896,000 over stock purchase

Banks

Increased risk scrutiny of global banks playing out on international stage

Bank of America reaches record US$17 billion settlement with Justice Department

Media

Streaming video company Aereo loses new bid to be recognised as cable-TV service

Mergers and acquisitions

M&A back on Hewlett-Packett’s agenda

Disconnect between big deals and big fees in mergerland