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Daily News

 

Friday
Jul012016

1 July 2016, Friday

Administrative law

Land acquisition for Klang Valley MRT Ampang Park station was lawful

Autos

BMW introduces updated 4 Series

Aviation

Malaysia Airlines COO named its third CEO in two years

Irishman’s two most challenging tasks

Capital markets

Chemical Company of Malaysia exits fertiliser business

Earnings

Aeon Credit Service’s Q1 profit up 7.7%

Insurance

Hong Leong can begin talks on disposal of Hong Leong Assurance, Hong Leong MSIG Takaful

Islamic finance

CIMB Islamic exploring opportunities in Bangladesh, India, Sri Lanka and Pakistan

Legislation

Minimum Wages Order 2016 implemented from today

Logistics

Pos Malaysia CEO discusses group’s push to transform into integrated logistics player

Dividend surprise for investors

Manufacturing

‘Steel King of Malaysia’ could take back seat once agreement with China partner finalised

Property

MRCB-Quill REIT new owner of Menara Shell in KL Sentral

New units to be placed out to MRCB and Employees Provident Fund

Salcon plans high-rise residential development in Australia

UEM Sunrise, WCT and Jubilant Courtyard not developing RM3 billion township in Selangor

Soft opening of Four Seasons Kyoto in mid-October

May be wiser for young working adults or families to rent

Telecommunications

MCMC discussing new spectrum fee with Digi.Com, Maxis, Celcom Axiata and U Mobile

YTL Communications banking on newly-launched service to become profitable

Trade

Implementation of Trans-Pacific Partnership Agreement depends on US ratification

ASIA

Capital markets

Postal Savings Bank of China seeks to raise US$10 billion from Hong Kong IPO

Competition

Canon’s acquisition of Toshiba unit approved, even though structure unorthodox

EUROPE

Financial services

Paris, Luxembourg, Frankfurt and even Vilnius looking to gain from Britain’s pain

Islamic finance

Luxembourg could threaten, and possibly take over, London’s role as European hub post-Brexit

Tax

Google’s Madrid offices raided

SINGAPORE

Capital markets

Restaurant operator Katrina lodges papers for proposed listing

Oil and gas

KrisEnergy CEO/founding director retiring

Real estate

Chiwayland plans 400 apartments, 364 townhouses for seventh project in Australia

Sim Lian pays A$32 million for neighbourhood mall in Western Australia

UK

Banks

HSBC keeping London HQ

Retail

BHS administrator continues to negotiate future of 164 UK outlets

US

Antitrust

Appeals court overturns historic US$7 billion settlement between retailers and Visa and MasterCard

Capital markets

Shopping start-up Honest Co in no hurry for IPO

Mergers and acquisitions

Hershey snubs Mondelez; merger would give latter control over Cadbury brand chocolates in US

Toyota Industries, Honeywell vying for distribution systems and logistics company Intelligrated

Real estate

14,000-acre ranch with four lakes, 100-year-old orchard on the market for US$32.5 million

Retail

Dick’s Sporting Goods wins auction for IP of bankrupt competitor Sports Authority

Technology

BMW, Intel and Mobileye collaborating on driverless-vehicle initiative

Oracle to pay Hewlett-Packard US$3 billion in damages

General Motors, Didi Chuxing could expand stakes in ride services company Lyft

Thursday
Jun302016

30 June 2016, Thursday

Administrative law

CLIQ Energy will know its fate next month

Capital markets

HSS Engineers looking to raise RM32 million from IPO

Constitutional law

Christian woman can apply for MyKad without ‘Islam’ status

Earnings

BCorp’s Q4 loss widens

George Kent’s Q1 earnings up 52%

Kim Loong’s earnings down 16% on lower FFB production, oil extraction rate

Graft

Penang CM detained on two charges amid investigation into property purchase

Islamic capital market

Maxis Broadband plans RM10 billion Sukuk

Management

Lembaga Tabung Haji announces new group MD/CEO

Manufacturing

MARGMA members cautioned against ‘whimsical’ expansion

Property

Bandar Malaysia, Tun Razak Exchange developments set to shift into higher gear

Gamuda’s Q3 earnings down

Mayland Valiant loses suit

SP Setia, Eastern and Oriental positive on long-term prospects of UK projects despite Brexit

UEM Land sells 10ha tract in Iskandar Puteri to South Korea-based AmorePacific

Technology

GHL Systems venturing into Singapore, Hong Kong by year-end

Tobacco

Why plain packaging causes more harm than good

Tort

Federal Court upholds RM2.78 million award to five former ISA detainees

Transport

Cabbies’ lawsuit against SPAD over ride-hailing apps ‘frivolous, vexatious’

Utilities

Rebate for Tenaga Nasional consumers with monthly consumption of more than 300 kWh

Natural gas tariffs for non-power sector higher by 6% from July

ASIA

Mergers and acquisitions

Bank of America units censured for breaching Hong Kong takeover codes

Real estate

Allianz Real Estate looks to China and India to anchor Asia strategy

EUROPE

Tax

Ex-PwC employees face suspended sentences, fined for role in LuxLeaks scandal

Technology

Dublin a potential winner in London’s messy divorce from Brussels

AUSTRALIA

Real estate

Chinese investor interest in NSW property is cooling

Telecommunications

Vocus seeks to close gap on market leader Telstra

SINGAPORE

Banks

United Overseas Bank first to suspend loans programme for London properties

Real estate

Funan DigitaLife Mall shutting tonight after 31 years

UK

Capital markets

FTSE 100 enjoys best day in five years

Intellectual property

Trademark holders need to be specific about scope of rights

Pharmaceuticals

Brexit presents long-term challenge to life sciences industry

Retail

Weak sterling a much-needed shot in the arm for luxury companies

US

Insurance

Investigators taking close look at Chinese ownership of Wright USA

Media

Industry rapidly losing control of news along with the revenue that goes with it

Mergers and acquisitions

Antitrust scrutiny, crackdown on inversion deals and security concerns main reasons for failed deals

Seed producer Monsanto’s weak earnings could increase possibility of M&A

Real estate

Gatehouse-cum-main house with six bedrooms, formal dining room available for US$15 million

Technology

Amazon’s growth will continue to redefine Seattle

HDD maker Seagate cutting 3% of workforce

Wednesday
Jun292016

29 June 2016, Wednesday

Administrative law

Businessman seeks order to stop registration of two children as Muslims

Aviation

Outgoing Malaysia Airlines CEO reportedly joining Dubai-based Emirates

UEM Edgenta’s KFM awarded RM43 million contract from Malaysia Airlines

AirAsia chief, transport minister to discuss klia2 branding issue

Auditing

Wah Seong’s PPI Industries resumes operations following end of Customs probe

Capital markets

HSS Engineers looking to raise up to RM32 million from proposed listing

Earnings

Apollo Foods’ Q4 profit down 74%

Bina Puri confident of achieving profit growth target of 20% in FY16

Comintel’s higher profit attributed to better financial performance of manufacturing segment

Subur Tiasa in the red

Healthcare

KPJ leveraging on medical tourism to enhance earnings

Investment

MITI agencies to be more focused

Islamic finance

Maybank Islamic hopes to become key catalyst in developing waqf

Oil and gas

SapuraKencana’s Q1 profit hurt by fewer activities, lower crude oil prices

SapKen units bag new contract wins

Property

EcoWorld IPO in September or October

Employees Provident Fund keen to participate in Eco World projects

EcoWorld unit signs conditional SPA with Batu Kawan Development to acquire land in Penang

JAKS Resources aims to divest Evolve Concept Mall within a year

Tropicana, PanaHome Malaysia collaborate on innovative eco homes

Famed Tanjung Aru beach to undergo transformation next year

Telecommunications

OCK secures loan to help finance construction of Myanmar towers

Transport

Scomi Rail approached for possible partnership with Chinese railway and engineering firms

Extended LRT lines in Kelana Jaya and Ampang begin operating tomorrow

ASIA

Autos

Toyota’s attempt to take over 51%-owned affiliate Daihatsu ‘bad for image’

Insurance

Canada’s Fairfax Financial to buy 80% of Indonesia’s AMAG

Technology

Sony looking to cement lead over Microsoft’s Xbox One and Nintendo’s Wii U consoles

AUSTRALIA

Financial services

Westpac sued by ex-employee over bad advice on structured financial products

Insolvency

Fire sale of some of Sydney’s best-known pubs and bars on the cards

EUROPE

Antitrust

Under-fire Google may face third charge next month

Maersk, MSC and 13 other shipping firms set to escape possible penalties

Autos

Porsche counting on sportier, sleeker Panamera to boost demand

Shipping

Maersk battling on two fronts

Hapag-Lloyd agrees merger deal with United Arab Shipping

SINGAPORE

Investment

Fragmented wealthy investors face hurdles in restructuring talks

Mergers and acquisitions

Singapore Exchange-Baltic Exchange talks extended to August

UK

Competition

UK lawyers flock to Ireland

Mergers and acquisitions

Fog surrounding international M&A market could linger for two years

Property

Estate agents swamped with calls from foreign bargain hunters

Tax

Harry Potter star seeks £1 million refund from HMRC

Telecommunications

Vodafone could relocate HQ outside UK

US

Antitrust

Conditional approval for merger of world’s largest beverage can makers Ball and Rexam

Autos

Toyota recalling hybrid Prius and Lexus CT200h

Mergers and acquisitions

DreamWorks Animation boss faces lawsuit over sale to Comcast

Tuesday
Jun282016

28 June 2016, Tuesday

Administrative law

MIC allowed to intervene in judicial review proceedings filed against Registrar of Societies

Autos

Takata airbag inflator ruptured in road crash that claimed life of mother-of-two

Aviation

AirAsia acquires 80% stake in T&Co Coffee

Banks

RHB wants to help affluent clients grow their investments

Dispute resolution

Accolade Land files RM300 million suit against MMC, others for alleged breach of contract

Prasarana restrained from terminating contract with Scomi Transit Projects until further order

Earnings

Berjaya Land’s Q4 loss widens

Islamic capital market

MoF-owned Sarawak Hidro plans RM5 billion Sukuk

Maybank appointed joint lead arranger on first syndicated Shariah-compliant financing in New York

Judiciary

Former senior officer, chief registrar appointed country’s first female Syariah High Court judges

Oil and gas

SapuraKencana Energy Sarawak to supply gas to Petronas from Q4 2017

Plantations

Genting Plantations’ combined plantation landbank in Malaysia and Indonesia increases

Property

Ideal Sun City changing name, eyes commercial buildings in three locations

Selangor Properties posts Q2 loss of RM17 million

Tadmax Resources unit disposes of affordable housing project for RM50 million

Tropicana MD confident of achieving sales target

Amanahraya REIT obtains order against bread maker High-5 to vacate premises

ASIA

Aviation

Singapore Airlines-Tata JV Vistara charts course to take on MidEast carriers

Pharmaceuticals

Pfizer bolsters presence in China; new facility in Hangzhou city should be completed in 2018

Tax

Indonesia rolling out tax amnesty scheme to recover revenue and plug deficits

CANADA

Oil and gas

Three months to complete review of Petronas-led LNG project

Technology

BlackBerry signs deal with Indonesia’s Emtek

EUROPE

Antitrust

US hotel chain Marriott secures approval for purchase of Starwood

Management

Nestlé makes first external hire for CEO job in nearly a century

Sport

Iceland stun England 2-1, sending tiny nation into quarter-final against France

Spain’s bid for record third successive European title halted

SINGAPORE

Real estate

Freehold 12-storey block at 110 Robinson Road latest office property on the market

Genuine recovery in office market may not start before 2019

Tort

Property owners cannot be expected to supervise what contractors do

UK

Accountancy

Financial Reporting Council investigates KPMG, PwC

Brexit

Treasury’s sale of Royal Bank of Scotland, Lloyds stakes on hold

Property tycoon caught in Brexit turmoil as he attempts to offload portfolio

Standard & Poor’s, Fitch downgrade Britain’s sovereign credit score

US

Autos

Volkswagen’s settlement over polluting vehicles one of largest in corporate history

Real estate

Philadelphia home of late Princess of Monaco on the market for US$1 million

Monday
Jun272016

27 June 2016, Monday

Aviation

Malindo Air hoping to land more deals with global carriers for interline services

New piece of debris found will be examined for possible link to missing MH370

Capital markets

Tough job ahead for Capital Markets Malaysia

Sarawak Cable’s high gearing ratio a concern for investors

Competition

My EG Services appealing against RM2 million fine

Construction

Value of jobs awarded this year expected to hit RM150 billion

Kimlun CEO expects flat or lower revenue growth in current financial year

Earnings

Bottled water producer Spritzer en route to record high net profit for FY16

Energy

ACE Market-listed VSolar facing another financial year in the red

Environment

Taman Tun Dr Ismail residents want DBKL to complete gazette of Taman Rimba Kiara

Infrastructure

YTL on lookout for infrastructure utility assets in UK

Prasarana contesting Scomi Transit’s ex parte injunction order

Mergers and acquisitions

MClean Technologies looking to expand core businesses post-restructuring

Oil and gas

Underlying oversupply could persist until H1 2017

Benalec venturing into oil storage business

Firm exploring other routes of equity fundraising for future investments

Petronas fractionator recognised as tallest and heaviest process column in Malaysia

Pharmaceuticals

Hovid investing up to RM60 million for new R&D centre, expansion of manufacturing facility

Property

Fewer properties being auctioned off not a sign of recovery in domestic market

Little-known BCB scaling down launches to pull itself through current property turmoil

Weaker sterling could help EcoWorld’s Asian customers

Brexit unlikely to have material long-term impact on IJM Land

Results of UK referendum won’t affect Battersea Power Station project

Kuching seeing big shift to high-rise living

2-storey terraced houses still popular in landed residential sector

Retail

UAE-based LuLu opens first hypermarket in Malaysia

Telecommunications

Will YTL Power’s much-criticised RM4 billion investment pay off?

ASIA

Banks

Asian Infrastructure Investment Bank approves first loans totalling US$509 million

Insurance

China’s top insurers increasingly looking to alternative investments for returns

Technology

Japan’s Line, world’s seventh-most used messenger app, fixing IPO price range today

EUROPE

Financial services

Money managers worried about how Brexit will reshape Europe’s industry

European Banking Authority to be relocated, possibly to Paris, Frankfurt or Milan

Oil and gas

No reason for Brexit to affect Technip-FMC Technologies merger

SINGAPORE

Legal services

Firms offering fuss-free contract-drafting services sprouting here

Mergers and acquisitions

Anchor Resources to diversify into mining and quarry extraction of dimension stone granite

Property

Frasers’ acquisition of Malmaison Hotel du Vin almost didn’t happen

Brands 'perfectly complement' company's portfolio

UK

Brexit

Uncertain new day for financial professionals in Britain

Paris, Frankfurt and Dublin likely to benefit most from Brexit

Major US banks preparing to shift some work

Top lawyers working to reassure anxious clients

Britain’s economy and people stand to suffer significantly in short to medium term

Mergers and acquisitions

Bankers, lawyers advising companies on takeovers and IPOs fretting over deals

London Stock Exchange, Deutsche Börse pressing ahead with US$30 billion merger

US

Real estate

Three-quarters of landmark Waldorf Astoria hotel could be turned into condominiums

Technology

YouTube, Facebook deploying systems to block or rapidly take down extremist content from sites

Chipmaker Intel may sell cyber security unit formerly known as McAfee