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Daily News

 

Wednesday
Apr162014

16 April 2014, Wednesday

Aviation

Bluefin-21 looking for missing Malaysia Airlines jet back in the water

Vessel can dive as far as 5,000m with software upgrade

AirAsia moving to klia2 after all

Banks

CIMB opening branches in Shanghai and Hong Kong

ECM Libra surrenders Labuan investment banking licence

Capital markets

Hong Leong IB dealer’s representative reprimanded, fined RM40,000 and suspended

DGB Asia to trade as DGB from tomorrow

A K Koh Group plans to list by end-2014

Draft prospectus

Corporate

1MDB finally complies with s 165(4) Companies Act 1965

Education

Cypark Resources, Fairview setting up new RM80 million International Baccalaureate World School

Property

A&M Realty’s major shareholders placing out shares to institutional investors

Bina Puri wins RM248 million Kuching contract

KSK bringing Europe’s Kempinski to RM4 billion project in Kuala Lumpur

Ken Holdings expects RM15 million annually upon completion of 13-storey office building

i-Bhd refines mixed-development plan to include two towers

Team Keris’ gated-and-guarded Camp Cool in Ipoh offers extra privacy

Investor clubs keeping property prices hot

Telecommunications

TIME dotCom part of consortium building new submarine cable system

Water services

44.6km-long tunnel could start operations sooner than expected to resolve Selangor water crisis

ASIA

Gaming

Osaka pips Tokyo in race to attract casino operators to set up Japan’s first gambling resort

Islamic finance

Hong Kong’s maiden Sukuk might be launched in September and larger than initially expected

AUSTRALIA

Employment

Former restaurant operator hit with A$42,240 fine for deliberately underpaying migrant workers

Property

Home values in cities spur to new heights

SINGAPORE

Privacy

Former manager with American Express fined S$24,000 for misusing client data

Real estate

Standoff between bargain-seeking buyers and developers sticking to pricing guns

Tort

Ousted president claims Singapore Swimming Club should foot his legal costs

UK

Employment

Producers of hit play don’t have to rehire musicians replaced with pre-recorded soundtrack

Intellectual property

Businessman wins legal battle against Lloyds over copyright

Media

British printers no longer solely devoted to paper and ink

Property

Presence in 72-floor Shard could be London Shangri-La’s biggest selling point

Tobacco

Imperial Tobacco stubbing out cigarette production in UK and France

US

Antitrust

Bridgestone executive, former officials indicted for conspiring to fix prices of auto parts

Autos

Aston Martin’s V8 Vantage GT and carbon edition of DB9 only for North America

Tuesday
Apr152014

15 April 2014, Tuesday

Aviation

Bluefin-21 aborts mission after exceeding 4.5km depth limit

International Civil Aviation Organisation invited to examine safety issues at klia2

Construction

Malaysia now second country after UK to have specialist court handling disputes in this industry

Energy

Tenaga Nasional, 1MDB sign power purchase pact on solar power plant

Manufacturer Majuperak venturing into energy sector

Companies review fuel requirement strategy as gas price hike looms

Misif objects to price increase

Islamic finance

Permodalan Nasional, Inspire team up on Japan’s first Shariah-focused fund

Professionalism yet to be looked into systematically

Legislation

Construction Industry Payment and Adjudication Act 2012 [Act 746] comes into force today

Oil and gas

Plantation firm Kulim plans to list subsidiary EA Technique

Property

Iskandar Malaysia likely to remain popular with local and foreign investors

Selangor seeks partner to develop waqf land in Klang Valley

Public administration

Ineptitude and incompetency in Malaysian institutions

Tax

Implementation of Customs Duties (Exemption) Order 2013, Sales Tax (Exemption) Order 2013 next month

Water services

Negotiations on implementation of s 114 Water Services Industry Act 2006 to drag on

Water emergency in two weeks if levels at dams below 30%

Federation of Malaysian Manufacturers calls for short-term solutions

ASIA

Gaming

Green light for Genting chairman’s nephews to open new gaming property north of Vietnam

Islamic finance

Hong Kong devising detailed plan for Sukuk issuance

Speech by deputy governor of Bank Negara Malaysia

Mergers and acquisitions

SE Asia displaces China as acquisition target market of choice

AUSTRALIA

Aviation

Badgerys Creek confirmed as site for Sydney’s second airport

Insurance

QBE reviewing US-based middle market business

EUROPE

Antitrust

PE firms, SWFs need to scrutinise compliance culture of companies that they invest in and own

Employment

UK laws banning secondary industrial action do not violate right to freedom of association

Property

Cash-strapped Italy puts island, former monastery on virtual auction block

NEW ZEALAND

Intellectual property

Twitter user told to remove silver fern symbol

Legislation

Smoke-Free Environments (Tobacco Plain Packaging) Amendment Bill likely to pass

SINGAPORE

Food processing

Wilmar and Myanmar’s Great Wall Food Stuff Industry in joint venture

Property

CapitaLand seeks complete ownership of subsidiary, CapitaMalls Asia

Consortium offers to buy Hotel Properties for S$3.50 per share

UK

Capital markets

Goldman Sachs sues LionGold director over unpaid debts related to October stock crash

Employment

Courts have wide discretion when considering enforceability of post-termination restrictive covenants

Employer entitled to deviate from independent panel’s decision

Islamic finance

UK strengthening ties with GCC nations ahead of maiden Sukuk

US

Capital markets

Hot market for IPOs may soon face cooler reception from investors

Media

Guardian US, Washington Post recognised for US spying coverage

Real estate

Copper Beech Farm sells for US$120 million

Sport

Retired 22-time Olympic medallist back in the pool, may compete in Rio Games

Technology

Facebook weeks away from becoming ‘e-money’ institution in Ireland

Monday
Apr142014

14 April 2014, Monday

Aviation

Investigators hunting for missing Malaysian Airlines jet tighten visual-search area

Officials weighing when to deploy underwater robot to aid hunt for MH370

Difficult to clear crew or passengers until recorders located

Malaysia in talks with experts on custody of black box once recovered

Families warned about American lawyers offering services here

Putrajaya investigates civil aviation and military authorities

klia2 to begin commercial flight operations as scheduled

Capital markets

Small and mid-cap growth stocks in O&G, construction and water may see revival in interest

IPOs lacklustre so far despite earlier optimism

Economy

Bank Negara Malaysia governor unfazed by accelerating inflation

Insurance

Tune Ins hoping to tie up with local Takaful operator

Islamic finance

Head of Shariah audit at Hong Leong Islamic Bank shares his experience

OCBC Al-Amin’s pre-tax profit surges 131%

Bank Islam reiterates interest in Indonesia despite earlier failed forays

Oil and gas

Chartering business will be key earnings driver for Sealink

US$600 million oil storage terminal at Pengerang, Johor starts operations

Petronas focusing on deepwater projects, risk service contracts and unconventional gas sources

Property

RM600 million Shapadu City Village next to MoF building to launch in Q4

Property owners want Bukit Sentosa township revived

UEM Sunrise building more affordable units in Gerbang Nusajaya

Retail

Bonia upbeat on prospects from Indonesia and Vietnam

Tort

Utusan Melayu applies for judicial commissioner to be recused from RM100 million defamation suit

Attorney-General cannot escape suits involving allegations of abuse of power

ASIA

Food and beverage

Long dry season leaves tea-growing regions Sri Lanka and Malaysia parched

Health

South Korea’s National Health Insurance Service sues local units of Philip Morris, BAT

Retail

Takashimaya may open two more stores in SE Asia; Indonesia and Malaysia possible locations

AUSTRALIA

Arbitration

London arbitration clauses enforceable in Australia

Retail

Woolworths breached undertaking on fuel shopper dockets, Coles did not

CANADA

Employment

Miners who lost jobs for being Hells Angels bikers sue for wrongful dismissal

Postal services

Canada Post scrapping home deliveries; first G20 country to be without door-to-door service

SINGAPORE

Contract

Restrictive covenant on sales manager unreasonable

Wealth

Singapore on cusp of becoming ‘Monaco of the East’

UK

Insolvency

HMRC in danger of violating insolvency laws with new bank raiding powers

Property

Ramshackle 568 sq ft garage in south London fetches £550,000 at auction

US

Energy

Businesses catching on to solar’s potential

Legal services

More firms teaming up with rivals in hopes of grabbing bigger piece of global market

Friday
Apr112014

11 April 2014, Friday

Autos

New E-Class drives Q1 sales growth at Mercedes-Benz Malaysia

Perodua’s latest Myvi XT aimed at university students and fresh graduates

Aviation

Search crews know approximate position of black box recorders from missing MH370

Possible ping a positive sign

Low-tech still has a major role in cracking mystery

Banks

Maybank Singapore CEO wins ‘Retail Banker of the Year 2014’ award

Capital markets

Felcra listing non-plantation subsidiary next year

KBB Resources to trade as EKA Noodles from today

Competition

MyCC maintains penalties for AirAsia, Malaysia Airlines

Contract

Concert promoter files suit against Star Publications over failed Erykah Badu show

Courts

Lawyers for Liberty concerned Coroner’s Court being set up haphazardly

Food and beverage

Asahi’s purchase a huge deal for Etika International shareholders

Islamic finance

KLCC REIT gets nod for Sukuk Murabahah

Property

Quill Capita Trust pays RM750 million for MRCB’s Platinum Sentral

Illegal land clearing in Mont Kiara, Kuala Lumpur back in full swing

What is, and is not, acceptable in property brochures and promotional material

Ampang residents oppose proposed high-rise development in vicinity of Highland Towers

ASIA

Airlines

AirAsia closer to finding partner for Japan comeback

Insurance

New M&A regulation will improve Chinese market

AIA’s new business value in Q1 beats analysts’ estimates

AUSTRALIA

Banks

Bank of Queensland acquiring Investec’s professional finance and leasing arm for A$440 million

Gaming

Barangaroo rated worst bet among six Australasian casino developments in pipeline

CANADA

Employment

Changing an employee’s terms or conditions of employment

Technology

Facebook said to have mined user data and shared it with third parties

SINGAPORE

Airlines

CEO confident Tigerair will soon return to its glory days

Capital markets

New fee structure for trading securities from June

UK

Communications

Missing Malaysian jet thrusts Inmarsat into uncomfortable spotlight

Competition

Tobacco retailer, manufacturer cannot bring out-of-time appeals against fines agreed to under OFT settlement

Financial services

Lazard asked to explain role in sale of Royal Mail

US

Autos

Recalls in US on pace to surpass record in 2004 with Toyota announcement

Probe zeroes in on General Motors’ engineers

Intellectual property

Warner Music, UMG Recordings, Sony Music and Capitol Records file lawsuit against Megaupload

Technology

Google Glass on sale to US public for 24 hours next week

Thursday
Apr102014

10 April 2014, Thursday

Autos

Go Automobile will make Great Wall Motor’s Haval M4 and H6 SUV models

Go Automobile has no track record to point to

Aviation

Search for missing Malaysia Airlines jetliner resumes on renewed optimism

Today’s effort set to include up to 10 military planes, four civil aircraft and 13 ships

Bankruptcy

Government redoubles efforts to tackle escalating number of bankruptcies

Capital markets

Fund managers await indicative IPO pricing of Icon Offshore

Suremax share manipulator’s appeal against jail term, RM3 million fine dismissed

Energy

Potential 1MDB-Tenaga Nasional alliance a first in local solar energy, and possibly whole RE, sector

Food and beverage

Japan’s Asahi Group acquiring Etika Dairies

Guinness Anchor to roll out five new brands skewed towards premium, super-premium categories

Investment

Petronas Chemicals, BASF investing RM1.5 billion in Pahang

Islamic finance

IILM will reissue US$860 million Sukuk next week

New phase of development following implementation of Islamic Financial Services Act 2013

Maybank Islamic want to increase financing base by 9%-11%

Legislation

Dewan Rakyat approves Judges’ Remuneration (Amendment) Bill 2013

Corrosive and Explosive Substances and Offensive Weapons Act 1958 [Act 357] needs amendment

Oil and gas

Seadrill still a long-term strategic investor in SapuraKencana even after reduced stake

Property

A&M Realty chairman may place out up to 6% of company to institutional shareholders

Ipoh folk more receptive towards condominium living

Refurbishment of Sunway Putra Place by year-end

Water services

Rationing exercise in Selangor may be extended

Concessionaires may accept 12% haircut

Announcement on award of long-delayed Langat 2 Water Treatment Plant project soon

ASIA

Employment

Key issues to consider when seeking to enforce restrictive covenants throughout Asia Pacific

Private equity

Boyu Capital poised to earn big paydays from IPOs of Alibaba and China Cinda

AUSTRALIA

Employment

Payroll officer sacked two months into job doesn’t have a case for unfair dismissal

Intellectual property

How copyright infringement should be assessed

EUROPE

Competition

Recent action taken in UK and EU, and potential developments

Property

Plans on track to open world’s first Ferrari Hotel in Spain

Remuneration

Shareholders get greater say over executive pay

SINGAPORE

Employment

Singapore Airlines sued for S$500,000

Real estate

US investment fund Lone Star sells Tokyo office complex to GIC for US$1 billion

Telecommunications

StarHub, SingTel gunning for larger piece of Silicon Valley-esque startup action

UK

Real estate

Work on 288m Pinnacle may resume

Owners of London properties left vacant hurting city’s economy

Court of Appeal reaffirms rule that formal requirements for break-option must be strictly observed

Tax

HMRC’s rejection of Ryanair’s claims on entitlement to refund was correct

US

Antitrust

Italian national extradited

Mergers and acquisitions

Procter & Gamble selling bulk of pet food business to Mars