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Daily News

 

Thursday
Nov222012

22 November 2012, Thursday

Airlines

AirAsia posts third straight increase in quarterly profit

Tune Air steadily building up stake

Autos

Waiting lists for a Bufori run up to a year

Banking

Institute of Bankers Malaysia launching Asian Banking School next year

Capital markets

Khazanah Nasional reduces stake in airport operator

Construction

Those engaging in construction work will need to pay attention to management of contracts

Earnings

Guinness Anchor expects domestic market to remain fairly robust

Lower advertising revenue, higher operating expenses crimp Star Publications’ bottom line

Education

Guidelines for pre-school education hardly adhered to

Employment

Dismissal of Hicom Network CEO upheld

Insurance

Potential bidders for CIMB-Aviva shortlisted

Oil and gas

Taiwanese refiner CPC denies scrapping proposed plant in Pengerang

Being bigger and stronger will allow SapuraKencana to be more competitive in bids

Real estate

Rising consumption and increased tourism in Malaysia have bolstered Pavilion REIT

Takaful

HSBC Amanah Takaful’s IFS rating affirmed at ‘A-’

Technology

Malaysia could be Samsung’s largest operations centre outside South Korea by 2015

AUSTRALIA

Intellectual property

Construction of patent claims a matter for the court, not an expert

Plain packaging being more readily considered than formerly as options to control use of tobacco

Technology

Australia reinforces reputation as an over-regulator of the Internet

CANADA

Employment

Training costs not recoverable from employee who resigned

Real estate

Nine aspects of leases that should be reviewed during due diligence period

EUROPE

Antitrust

European Commission clears Glencore’s US$32 billion takeover of Xstrata

Insurance

European Union’s 12-year push to introduce Solvency II close to being sidelined

SINGAPORE

Commodities

Olam files suit against Muddy Waters and founder

Corporate finance

CapitaMall Trust plans to raise S$250 million through private placement

UK

Competition

Limitation period for follow-on claim for damages

Construction

Adjudicators not entitled to fees where their decision is unenforceable

Franchising

Recent trends and key legal issues to setting up a franchising business

US

Capital markets

Fallout from latest insider trading case against former employee could impact billionaire trader

Technology

Apple’s new HQ won’t be ready until 2016

Hewlett-Packard-Autonomy transaction: Bankers and lawyers could still suffer reputational hit

Accounting firm Deloitte denies knowledge of fraud

Wednesday
Nov212012

21 November 2012, Wednesday

Airlines

Malaysian Airline System secures state-backed Sukuk for purchase of new aircraft

MAS should return to the black in its Q3

Autos

Lamborghini expects equal share of sales from Gallardo and Aventador Roadster

Capital markets

Bina Goodyear slips into PN17 status

Earnings

CIMB’s Q3 net profit beats expectations

Takaful Malaysia’s Q3 net profit rises on higher sales from family Takaful

KNM’s Asia & Oceanic segment records marked turnaround

Islamic banking and finance

Bank Rakyat issues RM1 billion Sukuk

Path to success is to ensure regulatory clarity at the outset

Legislation

Employees’ Social Security (Amendment) Bill tabled

Management

Malaysian Palm Oil Association seeks new CEO

Mergers and acquisitions

Bidding war for Fraser and Neave may lean towards OUE-Kirin alliance

Oil and gas

Ekuinas eyes 2014 listing for Icon Offshore

Petronas offer for Canada’s Progress Energy extended to 30 December

Dialog, Halliburton sign US$1 billion contract

Property

Trinity Group wins right to use brand name

ASIA

Capital markets

China may lift investment ceiling for long-term investors

Competition

Treatment of vertical arrangements across Asia Pacific

Retail

Carrefour sells 60% stake in Indonesian supermarket operations to local partner

AUSTRALIA

Earnings

Department store David Jones misses forecasts

Retail

Harvey Norman franchisees embroiled in legal dispute with consumer watchdog

EUROPE

Competition

Whirlpool cleared to acquire German kitchen manufacturer Alno

Mergers and acquisitions

Shareholders approve Glencore-Xstrata merger

NEW ZEALAND

Competition

Florist wins first round in cartel compensation battle against Cargolux

Tort

Psychiatrist loses case because he sued wrong Google company

SINGAPORE

Arbitration

High Court points out possible lacuna in Singapore International Arbitration Act

Banks

DBS’s proposal to buy Danamon in limbo pending regulatory approval from Indonesia

UOB acquiring ING’s Thai asset management unit

Commodities

Research firm Muddy Waters publishes first official material on Olam

Olam says attack on accounting practices 'baseless and unsubstantiated'

Tax

Seoul tax imposed on GIC for office building acquisition was justified

UK

Insurance

Aviva looks to former AIA boss to turn around company’s chronic underperformance

Social media

Twitter users just as responsible for unlawful material as traditional and mainstream press

US

Antitrust

Agency unsure Google can be successfully sued

Sport

Formula One boss to contest US$650 million damages claim

Technology

Hewlett-Packard alleges ‘serious accounting improprieties’ at British unit

Autonomy’s executives allegedly engaged in ‘willful effort’ to mislead H-P

Sloppy C-Suite conduct nothing new at H-P

Federal Bureau of Investigation probing allegations

Tuesday
Nov202012

20 November 2012, Tuesday

Autos

Mitsubishi Motors Malaysia plans first assembly plant by end-2013

Collaboration with Proton is over

Banks

CIMB will be top regional M&A financier if OUE’s counterbid for F&N goes through

Electronics

Panasonic Malaysia exceeds total sales target

Energy

Minister impressed by India’s financing model for RE projects

Finance

Malaysia’s public finances will remain a weakness versus ratings peers

Insurance

Great Eastern Life launches plan to help policyholders supplement retirement funds

Islamic finance

CIMB Islamic says strategy necessary to ensure industry’s growth across Asia

Metals

Lynas expects production at controversial plant to begin in December

Executive chairman to face frustrated shareholders

Oil and gas

Industry outlook remains fiscally positive next year

Malaysian companies secure deals worth nearly RM10 million at Indonesian expo

Tort

Computer dealer sued by Microsoft for defamation has to pay RM1.7 million in damages

ASIA

Insurance

HSBC may sell US$9 billion stake in China’s Ping An

Trade

US, SE Asia launch trade and investment initiative

EUROPE

Financial services

ING wins more time to shed assets and repay government aid

Sport

Germany’s Daimler takes full control of Mercedes Formula One motor racing team

AUSTRALIA

Financial services

NSW Supreme Court confirms binding nature of an ‘in principle’ settlement agreement

Intellectual property

Trademark application for ‘Superman workout’ may proceed to registration

Ensuring more effective brand protection on social media sites

Timber

Australia passes laws to ban import and trade of illegally logged timber

NEW ZEALAND

Insolvency

Care needs to be taken at an early stage to clearly articulate connection between auditor’s negligence and company’s loss

Intellectual property

Exporters should have clear strategies to protect their IP and avoid infringing that of others

What entrepreneurs should be aware of

SINGAPORE

Airlines

Singapore Airlines caught in premium and budget crosswinds

Gaming

Integrated resort operators need to reinvent themselves to attract new crowds

UK

Employment

Employee’s Facebook postings did not amount to misconduct

Mergers and acquisitions

Glencore-Xstrata deal on track to win approval

US

Antitrust

Trade commission to review judge’s decision on Apple and Samsung patents

Business

Amazon CEO earns top spot on Fortune’s 2012 list

Monday
Nov192012

19 November 2012, Monday

Accountancy

MIA conference from 27-28 November

Capital markets

Uncertainty surrounding US fiscal cliff, leadership change in China expected to dampen trading

Competition

Still much confusion over how Competition Act 2010 operates

Human rights

Malaysia signs ASEAN’s first human rights declaration in Cambodia

Islamic capital markets

Golden Agri-Resources issues first Sukuk in Malaysia

Land

Church wins right to challenge ministry and Pahang state’s move to acquire prime land in Kuantan

Legal services

One of six sub-sectors liberalised

Leisure

Club Med operator assessing opportunities in Sabah and Sarawak

Oil and gas

Strong demand from industrial and O&G sectors will spell solid showing for Pantech

Property

Nusa Gapurna Development, Malaysian Resources discussing share-swap deal

Developers who advertise projects without permits could face legal action

Rubber

Contraceptives business helping Malaysia revive an industry it once dominated

Tort

Astro unit Measat named in Jakarta suit

ASIA

Economy

Indonesia will lead SE Asian growth, says OECD

Trade

Thailand joining Trans-Pacific Partnership talks

AUSTRALIA

Insurance

Insurers may avoid being joined to proceedings if ‘wrongful act’ occurred before inception of policy

Mergers and acquisitions

Surfwear maker Billabong’s US boss examining potential buyout

EUROPE

Shipping

Denmark’s AP Moller-Maersk shifting focus to oil, drilling rigs and ports operations

Tax

Europe not the only place where the complex tax arrangements of US MNCs are being questioned

GLOBAL

Banking

Financial Stability Board calls for greater regulatory control of shadow banking

FSB proposes clear rules limiting the assets that money market funds can invest in

Real estate

Salmon-fishing properties particularly attractive to wealthy, aristocratic British buyers

SINGAPORE

Mergers and acquisitions

Fight for property and beverage giant Fraser & Neave likely to be a protracted one

Real estate

Office rents could slide 10% in 2013

UK

Professional negligence

Different factors that may apply in the court’s determination of whether a valuation was negligent

Social media

How Twitter users can avoid getting themselves in trouble

Telecommunications

BT looking for 40,000 sq ft space to house new sports channel

Friday
Nov162012

16 November 2012, Friday

Capital markets

Hong Leong Bank down despite Q1 results

Human rights

Tenaganita director stands by findings of report

Equal Rights Trust-Tenaganita report

Islamic finance

Dearth of skilled human resource a challenge for industry

Land

Kuantan High Court hears church’s application for leave for judicial review

Legislation

Electric bicycles classified as motorcycles under newly amended Road Transport Act 1987

Media

Competition in local pay-TV market set to heat up

All eyes on Astro Malaysia after winning broadcasting rights to Barclays Premier League matches

Oil and gas

Labuan still some distance away from being an O&G hub

Property

MKH plans high-rise projects in ‘satay town’ Kajang

Tax

Royal Malaysia Customs Department seminar next month on proposed GST

CCH-Deloitte seminar on indirect taxation

Transportation

Scomi Engineering eyes Chennai monorail project

ASIA

Biotechnology

Pioneering drug company Biocon was started in a garage

Islamic finance

Hong Kong’s Sukuk Bill ready next year, but market interest may have dimmed

Telecommunications

Region's telcos likely to face margin pressures in 2013 as competition intensifies

Telenor wins airwave space in six Indian telecom zones

AUSTRALIA

Construction

Use and wording of letters of intent should be carefully considered

Franchising

Importance of disclosing current financial documents prior to entering into a franchise agreement

Intellectual property

Virtual goods transactions still on new and uncertain legal ground

CANADA

Employment

Ontario not averse to punishing employers whose conduct is deserving of significant punishment

EUROPE

Capital markets

Gradual thawing a good sign for region’s banks

Mergers and acquisition

Swiss family-held group Maus Freres acquires French classic fashion brand Lacoste

Semiconductors

STMicroelectronics may decide against splitting analog and digital businesses

SINGAPORE

Capital market

SGX wants bigger slice of Asian bond issuance as slump in IPOs threatens earnings

Gaming

More curbs for problem gamblers from next year

Evaluation panel to be set up

Legislation

Financial advisory firms under greater scrutiny

Mergers and acquisitions

Heineken now owns 95% of Tiger beer maker APB

OUE trumps Thai tycoon’s bid for Fraser and Neave

Japan’s Kirin follows brewers ABI and Heineken as they buy into emerging-market growth

Telecommunications

SingTel revamping Australian unit

UK

Competition

Two significant recent developments in UK cartel law

Insurance

Prudential Asia on course to become self-financing by end-2013

Intellectual property

New copyright Bill could harm publishing and museums

Tort

BBC settles British politician’s libel claim for £185,000

US

Antitrust

Rental car company Hertz Global wins approval for takeover of smaller rival Dollar Thrifty

Insurance

Apollo Global Management in the lead to buy Aviva’s US unit

Oil and gas

BP reaches US$4.5 billion settlement with US authorities over Gulf of Mexico spill

Charging of individuals signals return to practice of prosecuting officials in industrial accidents