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Daily News

 

Wednesday
Jun272012

27 June 2012, Wednesday

Banks

CIMB backs out of Asia Petroleum Hub restructuring scheme

New banknotes series in circulation from 16 July

Capital markets

Bumpy road ahead for plantation company Felda Global Ventures

Felda Global IPO may throw investors for a loop

Stiff battle expected in banks’ IPO proposals for Astro All Asia Networks

Civil procedure

New Rules of the Court in force from August

Dispute resolution

Investment adviser AMMB Consultant settles US lawsuit

Graft

Malaysia denies allegations in US$1.25 billion purchase of submarines

Mounting pressure to give fuller explanation of dealings

Islamic banking

Applications for mega bank licence market-driven and private sector-led

Legislation

Failure to register franchises may lead to RM250,000 fine

Validity of Sedition Act 1948 cannot be challenged

Property

Bukit Bintang Plaza to make way for rail transit station

Tenants lobbying for change in building ownership

UDA still awaiting decision on Tradewinds’ application

Tax

IRB public ruling on taxation of clubs, associations or similar institutions

Telecommunications

Fight for subscribers in home-services segment will only get tough

ASIA

Banks

Barclays Asia struggling to gain ground on rivals

Legislation

Hong Kong’s Copyright (Amendment) Bill shelved for now

AUSTRALIA

Banks

Chinese banks muscling into Australia’s syndicated loan market

Gaming

Genting looking to lift stake in Echo Entertainment above 10% threshold

CANADA

Franchising

Court rules in favour of Dunkin’ Donuts’ former franchisees

Intellectual property

Definition of IP in government contracts more expansive than traditional meanings

SINGAPORE

Airlines

Singapore Airlines needs to redefine long-held strategy

Mergers and acquisitions

DBS bid for Indonesia’s Bank Danamon may scrape through

Company linked to tycoon poised to take majority stake in Dubai shipbuilder’s SEA operations

UK

Insurance

Document can be demand for payment without expressly containing the words ‘please pay’

Mergers and acquisitions

Mega deal between Glencore and Xstrata on the rocks

Investors concerned about golden handcuffs proposed for key Xstrata executives

US

Corporate governance

US$31 million reward for country girl-turned-banker who blew whistle on Citigroup

Data protection

Laptops, cell phones and mobile apps may be connecting lawyers to predatory hackers

Attorneys have to reboot skills for the digital age

Employment

Employer’s MySpace profile and ‘Friends’ list can qualify as trade secrets

Tuesday
Jun262012

26 June 2012, Tuesday

Banks

Speculation resurfaces about possible M&A involving Affin

Bank of East Asia could release stake in Affin as it shifts strategy

Capital markets

Furqan Business Organisation to trade as Eastland Equity starting tomorrow

Healthcare

KPJ Healthcare allocating RM2 billion to build new and expand existing hospitals

Intellectual property

Members of creative industry can register works with MyIPO

Sports council and apparel company in trademark dispute over three-stripe design

Islamic banking and finance

BNM plan for mega lender could involve purchase of Asian Finance Bank

Pos Malaysia in Ar-Rahnu JV with Bank Muamalat

Legislation

LHAG partner speaking at seminar on new Mediation Act next Tuesday

Fine of up to RM2,000 among proposed amendments to Road Transport Act 1987

Negligence

Teachers, principal and ministry negligent in ensuring students’ safety on school trip

Oil and gas

Deleum undergoes corporate rebranding exercise

Publishing

Berjaya Books wins leave for judicial review; hearing date in September

Real estate

Battersea Power Station site likely to cost SP Setia and Sime Darby over RM3 billion

Dijaya subsidiary Aliran Peluang acquiring 11 parcels in Johor

Tax

Tax burden here ‘lower than majority of G8 and BRIC nations’

ASIA

Capital markets

CITIC Heavy IPO set to be China’s biggest this year

Intellectual property

Tussle over Wong Lo Kat herbal tea trademark far from over

AUSTRALIA

Airlines

Further challenges for Qantas as Singapore Airlines beefs up capacity on routes

Gaming

Australia going to hear a lot more about Genting boss

Insurance

Undisputed amounts under policies must be paid within a reasonable period

Retail

Surfwear company Billabong's fall from grace worse than most

Capital raising appears rushed

SINGAPORE

Insurance

AIA Singapore sued for breach of contract

Wealth

Private-banking investors seek refuge in Singapore-dollar bonds

UK

Financial services

Regulators resist calls to overhaul Libor lest any substantial changes affect existing contracts

Islamic banking

StanChart keen to expand Islamic services to private banking

Islamic financial solutions will be delivered in collaboration with Saadiq

US

Antitrust

Microsoft’s decade-long struggle against EU probe enters final phase

Technology

Facebook COO becomes its first female director

Monday
Jun252012

25 June 2012, Monday

Airlines

Malaysia Airlines' lawsuits against ex-chairman settled out of court

MAS will continue to improve on staff productivity and operational efficiency

Banks

Acquisition of RBS’s Asian operations will help CIMB boost market cap

Maybank taps into growing Malaysian demand for Australian properties

Capital markets

Bursa Malaysia needs to do more or risk falling further behind competitors

Investors likely to stay on the sidelines

Healthcare

Country Heights mulls hub for traditional Chinese medicine

Insurance

Negative outlook for Labuan Re

Investment

State investment funds pouring billions overseas as domestic opportunities shrink

Islamic finance

Licence to set up mega Islamic bank a key benchmark for Malaysia

Oil and gas

Former chief secretary is next chairman of Petronas

Dialog unit signs pact with Halliburton Energy Services

Philanthropy

Berjaya founder focusing on bringing English fluency to Malaysia

Real estate

MRCB close to inking deal on prime site along Jalan Bangsar, KL

Promotional materials prevail over S&P agreement

Telecommunications

Telcos in for another battle in IDD segment

Tort

Utusan Malaysia guilty of defaming Penang chief minister for second time in six months

Transport

Two-year RM520 tyre subsidy, insurance scheme for taxi drivers

ASIA

Banks

Deutsche Bank, Goldman Sachs and UBS among banks and brokerages cutting jobs

Competition

Philips’ Korean unit fined for preventing domestic online malls from offering discount prices

Potential impact of key provisions of Hong Kong’s competition law

Retail

World’s largest furniture maker IKEA opening up in India

AUSTRALIA

Airlines

Easing of foreign-ownership restrictions no quick fix for Qantas’ fortunes

Employment

By condoning employee’s misconduct, employer could not rely on it as a basis for dismissal

CANADA

Antitrust

Canadian regulators asserting authority to investigate alleged interest-rate fixing by banks

Technology

BlackBerry maker RIM could separate struggling handset division from messaging network

EUROPE

Autos

BMW-Toyota Motor cooperation goes beyond green car tech and diesel engines

Volkswagen CEO forges ahead with bold growth plan

Intellectual property

High street retailer Zara can continue selling red-soled shoes

SINGAPORE

Mergers and acquisitions

Planned S$60 million RTO of bed linen maker Aussino in doubt

Real estate

CapitaLand president and CEO retiring in a year, reviewing succession candidates

UK

Construction

Dangers of using letters of intent and commencing work without a formal contract

Tax

Investors in Eclipse 35 could end up paying several times more than amount they sought to avoid

Friday
Jun222012

22 June 2012, Friday

Airlines

Malaysian Airline System delays target to return to profitability

High executive director’s fees, board composition queried

Capital markets

Commodities trader Louis Dreyfus takes 0.5% stake in Felda Global

Felda Global to streamline operations in US and Canada

Employment

Private sector wants implementation of minimum wage policy delayed

Food and beverage

KUB repositioning its business

Intellectual property

BiotechCorp working closely with MyIPO

Islamic finance

Several multi-track events to be held concurrently with Global Islamic Finance Forum

Legal profession

Malaysian Bar has to say what needs to be said

Independent Bars of Malaysia express reservations on proposed law academy

Oil and gas

Petronas to develop North Malay Basin gas project with Carigali and Hess

Real estate

Land swap involving St Nicholas Home in Penang appears to be on the cards

Batu Kawan is SP Setia’s preferred site to establish footprint in Seberang Prai

Transport

George Kent-led consortium tipped to win systems contract for Ampang LRT line extension

ASIA

Capital markets

IPO market still active in Singapore, Malaysia and Indonesia

Competition

Record penalty for cement makers from India’s increasingly assertive antitrust regulator

Management

Rapid trend towards more Asia-based management

EUROPE

Employment

Workers entitled to reclaim holiday time affected by illness

Intellectual property

European Parliament may reject Anti-Counterfeiting Trade Agreement next month

GLOBAL

Banks

Moody’s slashes credit ratings of 15 major banks

Analyst says downgrade ‘absurd’

Mergers and acquisitions

Dealmaking down 25% worldwide in H1 2012

SINGAPORE

Competition

Revised guidelines on mergers coming into effect next month

CCS guidelines on merger procedures

Real estate

Singland Development top bidder for prime residential site on Farrer Drive

UK

Property

Queen’s property portfolio returns record-breaking income surplus

US

Banks

Operation Twist may be failing

Tobacco

Philip Morris developing lower-risk products

Soft Q2 performance in EU

Thursday
Jun212012

21 June 2012, Thursday

Airlines

Malaysia Airlines shareholders likely to demand answers on Q1 losses

Autos

Ministry streamlining incentives for energy-efficient vehicles

MBM Resources would rather wait for clearer picture on NAP

Banks

Bank Negara Malaysia: Amount of NPLs sold in news report overstated

Three mandatory requirements for NPLs to be 'sold'

Employment

Former CEO of Group Lotus suing DRB-Hicom for wrongful termination

Intellectual property

Malaysia taken off US list

Private equity

Singapore-listed Asiasons buying Australia’s Hi-5 for undisclosed sum

Publishing

Borders manager couldn’t have known Canadian book was illegal

Borders statement goes viral

Tax

List of certification bodies under s 34(6)(ma) of Income Tax Act 1967

Telecommunications

MCMC finalising allocation of 2.6GHz spectrum

Maxis sees potential in immigrant, student and tourist segments; Sabah and Sarawak

Tort

‘Citizen Nades’ apologises to Gapurna CEO over defamatory tweets

ASIA

Banks

Indonesia eases concerns on ownership caps

Capital markets

Hontex investors may get most of their money back under landmark HK court settlement

AUSTRALIA

Consumer law

Apple ordered to pay AUD2.25 million fine for misleading ads on new iPad

Media

Mixed views on whether digital overhaul of Fairfax sounds death knell for newspaper journalism

What recent developments mean for the future of media

News Corp boosts billionaire James Packer’s war chest

Competition commission to review News Corp’s bid

Real estate

Developer entitled to enforce off-the-plan contracts even where signage rebrands development

EUROPE

Insurance

Existing contracts may be exempted from new risk-capital rules for seven years

Half of insurers will change approach to calculating regulatory capital

Intellectual property

Dutch court sides with Samsung in case against Apple

NEW ZEALAND

Bankruptcy

Proceedings only where individual genuinely unable to pay debts

Intellectual property

Will tobacco plain-packaging law tarnish country’s reputation for fair trade?

UK

Companies

Court of Appeal sets out principle upon which corporate veil can be pierced

Financial regulation

US comments on London’s regulatory record bring heat but no light

US

Consumer goods

Procter & Gamble latest company to sound warning bells about slowing growth

P&G often out-innovated by competitors

Data protection

US$5 million lawsuit filed against LinkedIn

Insurance

Chartis: Microinsurance largely undeveloped, but could be viable

Intellectual property

Turning point on the horizon for Apple’s patent war against Google’s Android OS