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Daily News

 

Friday
Apr242015

24 April 2015, Friday

Administrative law

Former cadet officer seeks certiorari order to quash varsity’s decision to terminate her studies

Airlines

Downsizing at Malaysia Airlines inevitable if new national carrier is to be sustainable

Capital markets

Malakoff closing institutional tranche of IPO today

Contract

Ex-wife of late deputy PM files RM1 million suit for breach of agreement in land ownership

Corporate governance

PKF Covenant reviewing Scanwolf’s operations

Economy

Bank Negara Malaysia governor sees no need for interest-rate cut

Energy

Edra Global Energy may bring in new promoter to lead listing exercise

Islamic finance

Islamic investment option for EPF contributors by 2017

Property

EcoWorld Development targeting to list SPAC in H2

RM4 billion sales target for FY16

Tropicana to build 10-acre international school campus in Kota Kemuning

Ireka focuses on expanding property segment

Mah Sing building up war chest in preparation for bigger things

ASIA

Antitrust

Mercedes-Benz China fined 350 million renminbi

Aviation

Automaker Honda Motor unveils light business jet

Sales of HondaJet in Asia years away

Gaming

Macau’s casino and resort industry must change to survive Chinese crackdown

Islamic capital market

Dollar Sukuk issued by Indonesia outperforming those of Malaysia

AUSTRALIA

Mining

Lynas records first-ever month of positive free cash flow

Real estate

Morgan Stanley’s sale of Investa Property Group attracts more than 20 bids

EUROPE

Competition

LG Display cannot escape €210 million fine

Oil and gas

Technip expects sector slowdown to be prolonged and harsh

SINGAPORE

Gaming

Marina Bay Sands continues to be a resilient business

Insurance

Great Eastern’s Q1 earnings fall on absence of one-off gain

UK

Employment

High Court restricts extent of collective bargaining rights for unions

Insolvency

Fraudulent directors cannot attribute unlawful conduct to company to escape liability

Property

Four-year battle for control of London’s Claridges, the Berkeley and the Connaught ends

US

Banks

Deutsche Bank pays heavy price for Libor manipulation

Technology

Nasdaq OMX settles lawsuit involving bungling of Facebook’s US$16 billion IPO

Nasdaq Composite closes at all-time high

Google keeps costs under control

Pentagon takes new approach to charm Silicon Valley start-ups

Thursday
Apr232015

23 April 2015, Thursday

Autos

Q1 sales of Mercedes-Benz Malaysia up 13%

Banks

AMMB giving priority to local candidates in search for new AmBank MD

Capital markets

Bursa Malaysia expects a challenging year

Former CEO of Inix Technologies sentenced to 45 months in jail

Investment

Private investment set to slow, especially in property and O&G sectors

Islamic capital market

Bank Islam issues first Sukuk tranche under RM1 billion Sukuk Murabahah

Oil and gas

Icon Offshore’s CEO, COO assisting in MACC investigations

Coastal Contracts sells jack-up drilling rig for RM807 million

Property

Iskandar Waterfront City to acquire freehold land in Johor Baru for proposed mixed development

MRCB disposes of entire stake in Nu Sentral to Pelaburan Hartanah

AmProp acquiring 62 apartment units in mixed-use building in Japan

Takaful

Malaysian Re gets BNM nod for general and family retakaful business

Tax

Service charge stays

ASIA

Aviation

Nervous flyers latest problem for Thailand

Banks

Japan’s Daiwa Securities resumes expansion in region

Bank of Tokyo-Mitsubishi first foreign lender to operate in Myanmar for decades

Capital markets

UBS, Temasek and BNP Paribas eyeing stake in Postal Savings Bank of China

AUSTRALIA

Banks

ANZ reattempts to sell 39% stake in Bank Panin Indonesia; may draw interest from Mizuho

Real estate

Tighter safeguards needed against money laundering in nation’s booming property market

EUROPE

Antitrust

Russian gas giant Gazprom charged with abusing dominant position in Europe

Gazprom might have little choice but to deal with European Commission in Brussels

Autos

Volvo CEO replaced with top executive at rival truckmaker Scania

Banks

Deutsche Bank setting aside €1.5 billion for litigation costs

SINGAPORE

Capital markets

Singapore Exchange’s profit up 16%

Employment

Procter & Gamble rated most attractive employer

UK

Banks

Ex-director of GCHQ helping StanChart crack down on financial crime

Financial services

DST Global, BlackRock and Temasek among new investors in Funding Circle

Mergers and acquisitions

London Stock Exchange Group may strike deal with major Western exchange within two years

US

Beverages

Things are looking up for Coca-Cola

Gaming

Las Vegas Sands’ Q1 results down on betting decline in Macau and Singapore

Restaurants

McDonald’s Q1 profit misses estimates

US market remains especially difficult for burger chain

Technology

Facebook misses analysts’ sales estimates for first time since 2012

Google partners with Sprint and T-Mobile in bid to shake up wireless industry

Wednesday
Apr222015

22 April 2015, Wednesday

Administrative law

Kindergarten teacher granted leave to challenge Court of Appeal ruling

Airlines

Nufam president suing Malaysia Airlines over dismissal

Beverages

Yee Lee sole distributor of Red Bull energy drinks in Malaysia from August

Economy

Minister says Malaysia in good shape

Employment

Teacher sacked for protesting against assessment system

Oil and gas

Petronas looking for cost savings with commissioning of maiden floating LNG facility

PetChem undertaking two-pronged strategy

Property

IJM Land, Perennial Real Estate team up for mixed-use development in Penang

Matrix Concepts acquiring 5.8 acres in Selangor for RM95 million

Retirement planning

Current contribution rate for Employees Provident Fund sufficient

Contributors assured their money won’t be used for government bailouts

ASIA

Capital markets

China switching to ‘registration system’ for IPOs

Real estate

Luxury home sales booming in Hong Kong, despite efforts to stop market overheating

AUSTRALIA

Competition

Watchdog’s decision on Halliburton-Baker Hughes deal by July

Property

Blackstone, Brookfield eyeing A$9 billion of Australian real estate being sold by Investa Property

Singapore’s Far East Organization to start construction on first property development in Australia

CANADA

Mergers and acquisitions

China could be an answer to circus troupe Cirque du Soleil’s midlife ennui

Technology

BlackBerry acquiring privately-held WatchDox in bid to boost security offerings

SINGAPORE

Banks

Moving HQ to Singapore logical for StanChart

Commodities

Noble Group barred from Platts’ trading process

Noble’s financial reports more transparent from May

If Noble’s finances were so clear, questioning them would have gained no traction

Gaming

Resorts World Singapore will be more stringent when extending credit terms to high rollers

UK

Banks

Bank of America Merrill Lynch latest Wall Street institution to be fined

Employment

Goldman Sachs reaches out-of-court settlement with female VP

Financial markets

Futures trader arrested, faces extradition to US for alleged role in ‘flash crash’

Charges will test US prosecutors’ ability to win big market manipulation case

Human rights

Relatives of ‘Batang Kali massacre’ victims to argue for public inquiry

Oil and gas

Britain proving to be tough environment for Petrofac

Retail

Once-dominant Tesco expected to report biggest loss in British history

Tesco may be in more trouble

US

Insurance

Insurers shifting investments into PE firms, real estate deals and hedge funds

Jewellery

‘Perfect’ diamond sold for US$22 million

Oil and gas

ConocoPhillips exploring sale of North Sea assets in Norway

Technology

Yahoo’s Q1 disappoints; advisers evaluating options for stake in Yahoo Japan

Tuesday
Apr212015

21 April 2015, Tuesday

Administrative law

High Court orders stay of planning approval for Tambun project

Airlines

AirAsia plans IPO of Indonesia business, expects to start Japan venture early 20016

Banks

Affin expects slower loan growth

Public Bank’s Q1 profit rises

Entertainment

Department of Islamic Development Malaysia’s new guidelines for concert organisers

Mixed reactions from stakeholders

Islamic finance

IFSB clarifies tools that Islamic banks can use to meet Basel III regulatory requirements

IFSB GN-6 guidance note

Maybank IB, Public Islamic Bank and RHB Islamic Bank funding Impian Bebas

Islamic financial planners in demand

Property

Sunsuria proposes to acquire remaining 50% in JV firm

Retirement planning

Employees Provident Fund proposes two withdrawal options for contributors

Employers, employees at odds over EPF move

Proposal overlooks vital fact most don’t spend their retirement savings wisely

Telecommunications

Flexiroam aims for A$12 million IPO on Australian Securities Exchange

India still investigating Maxis boss

Tobacco

BAT decision to cut prices will weigh on margins

ASIA

Autos

Foreign automakers ploughing ahead with expansion plans in China despite economic slowdown

Banks

StanChart not selling stake in Indonesia’s Bank Permata

Pharmaceuticals

Japan’s Daiichi Sankyo to retreat from India after rollercoaster seven years

AUSTRALIA

Airlines

AirAsia X reimburses travellers inconvenienced by its decision to quit direct flights to Adelaide

Property

Simply lodging a caveat not enough to protect an interest

Telecommunications

Singtel-Optus quitting Australian Securities Exchange

CANADA

Mergers and acquisitions

PE investors to buy Cirque du Soleil for C$1.5 billion

Oil and gas

Encana unloading gas assets to better focus on drilling for oil and liquids

EUROPE

Earnings

Cosmetics maker L’Oréal benefiting from euro’s slump

Technology

Nokia may rejoin phone market in 2016

US

Earnings

Morgan Stanley reports most profitable quarter since Q2 2007

Bank focusing less on bond markets, more on managing money for the rich

Technology

International Business Machines’ Q1 revenue down 12%

IBM scrambling to reinvent itself

Trade

US-EU talks for biggest bilateral trade agreement attracting increasing criticism

Monday
Apr202015

20 April 2015, Monday

Administrative law

High Court has jurisdiction over Native Court in judicial review applications; first case of its kind in Sarawak

Auditing

New and amended standards a game changer for auditor communications with investors

Banks

Sector faces margin squeeze amid LCR requirements

Capital markets

Malakoff set for big comeback

Economy

Malaysia’s fiscal position improving, ringgit undervalued

Energy

Edra Global Energy obtains tariff increase on proposed 50MW solar power plant

Franchising

Sarawak’s SCR Corp expands in Sabah and Indonesia

Insurance

Level of M&A activities likely to persist in near term

RHBCap denies report on insurance arm

Investment

Malaysia lagging in ETF development

Islamic capital market

US dollar-denominated Sukuk issuance oversubscribed

Legal education

Law graduates facing difficulties in finding suitable employment after pupillage

Legislation

Malaysians doubt Price Control and Anti-Profiteering Act 2011 effective in curbing profiteering

Logistics

Sector attracting investments

Manufacturing

EITA Resources looking at M&As, JVs to expand

Oil and gas

Malaysia Marine and Heavy Engineering on a strong footing to bid for jobs

Property

Maybank ‘cautious’ on property exposure in Iskandar Malaysia

Property development new income driver for PRG

Telecommunications

CEO of TIME dotCom keen to expand company’s footprint to SE Asia

Tort

PM and wife sue politician, portal owner

ASIA

Insurance

Willis’ newly promoted co-CEOs focusing on Asia

Islamic finance

China exploring Islamic finance for projects

EUROPE

Antitrust

Google could be pinned down in regulatory procedures and legal appeals

Probe misses larger point of how much information company actually owns

Media

Ambulance chasers using ruling on ‘right to be forgotten’ to drum up business

SINGAPORE

Investment

Who will steer Temasek Holdings when CEO eventually leaves?

Real estate

Next generation of urban housing will be ultra-connected, convenient and sustainable

UK

Banks

Higher bank tax leads HSBC, StanChart to consider quitting Britain for Asia

Commodities

CWT unit fined for violating ‘Chinese Wall’ restrictions of warehousing policy

Competition

Ryanair must sell down 30% stake in rival Aer Lingus

Takaful

Lloyd’s of London in talks to set up shop in Malaysia

US

Antitrust

Regulators concerned merged Comcast-Time Warner may wield too much power

Real estate

Prologis to buy KTR Capital Partners for US$6 billion