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Daily News

 

Thursday
Jul192012

19 July 2012, Thursday

Autos

New car sales up 2% in H1 2012

Perodua maintains sales target

Capital markets

New mercantile exchange and private market platform within a year

Asean Exchanges launching soon

Companies

Companies Commission of Malaysia relaxes requirement for striking off dormant companies

CCM guidelines

Corporate governance

Clean, efficient and accountable governance will produce positive socio-economic development

Employment

Malaysians can start contributing to private retirement scheme from September

SC chairman’s speech

More about the PRS

Insurance

Proposed group insurance scheme for traders will be borne by government

Investment

Moderate inflow of FDI compared to last two years

Permodalan Nasional divesting U-Travelwide, U-Insurance and Inobel

Media

Renewal of printing licence, publication permit scrapped

Property

Limited options for minorities of Ho Hup Construction

Shipping

MISC confident of returning to the black

Water services

Restructuring in several states still meandering

ASIA

Insurance

HSBC’s Vietnam business on the block

Technology

LG Display employees charged with stealing technology from Samsung

CANADA

Antitrust

Competition Bureau approves Belden’s proposed acquisition of Miranda Technologies

EUROPE

Banks

Libor scandal: Crédit Agricole, HSBC, Deutsche Bank and Société Générale in focus

Serious failings in the Vatican’s bank

Competition

Microsoft could face US$7 billion fine

Islamic finance

Luxembourg-based Sustainable Capital aims to raise US$100 million in open-ended forestry fund

INDONESIA

Antitrust

Agency KPPU loses appeal against Pfizer

Banks

Ownership in local banks capped at 40%; higher thresholds for healthy listed banks

SINGAPORE

Capital markets

Tougher rules from August for companies looking to list

Competition

Ferry operators fined for anti-competitive behaviour

Financial regulation

Monetary Authority of Singapore examines Sibor

Food and beverage

OCBC, Great Eastern sell stakes in Fraser and Neave and Asia Pacific Breweries for S$3 billion

Next step in furthering Thai magnate’s beer and property empire

Real estate

South Korean asset dropped from Ascendas Hospitality IPO

UK

Capital markets

London Stock Exchange hit by sluggish performance in core business

Technology

Apple must publish notice that Samsung Electronics didn’t copy the iPad

US

Biotechnology

Large investors likely to capture serious windfall profits as deal activity picks up

Capital markets

Football club Man United’s IPO set to kick off next week

Financial regulation

International effort needed to restore Libor's credibility as leading benchmark

Enough impetus to push through reform?

Technology

Microchip maker Intel lowers financial forecast

Wednesday
Jul182012

18 July 2012, Wednesday

Banks

Total trade value forecast to grow 131% in Q2 2026

Capital markets

Mobile-phone operator Axiata rises to high of RM6.23

CEO of car parts supplier Ingress says no plans to take company private

Competition

MyCC review on domestic broiler market open for consultation until late August

Investment

Premier Agro officer fined RM20,000 over fish fry scheme

Legal services

ZICOlaw expands to Cambodia, Myanmar next on list

Legislation

Second reading of goods and services tax Bill on hold

Dewan Negara adjourns after approving eight Bills

Tort

News portal Free Malaysia Today apologises for inaccurate articles on Lynas

FMT statement

Hearing of former transport minister’s RM500 million defamation suit set for next year

ASIA

Food and beverage

Thai beer maker bidding for OCBC’s stakes in Fraser and Neave, Asia Pacific Breweries

Heineken considering options

Islamic finance

CIMB Islamic introduces Indonesia’s first Shariah-compliant fixed returns on deposits

Tax

Universal Music Japan failed to declare ¥9 billion in taxable income over three years

Telecommunications

India's Aircel investing US$500 million in 4G services

AUSTRALIA

Franchising

Franchisor misleading and deceptive in pre-franchise discussions

Legal services

Ashurst chairman inspired by people who do extraordinary things in unassuming ways

Pharmaceuticals

Melbourne woman wins fight against thalidomide distributor

GLOBAL

Investment

Companies should look beyond high-profile places to reap benefits of urbanisation boom

Telecommunications

‘Too much capacity chasing too little capex’ in telecom equipment sector

EUROPE

Antitrust

Google offers improved concessions in bid to settle probe and avert hefty fine

Universal Music could sell EMI classical, jazz labels and Virgin Records to ease EC concerns

Microsoft faces prospect of huge fines for ‘technical’ error

Regulators checking whether Microsoft complying with 2009 ruling

Gaming

In Italy, gambling industry is sucking demand out of the economy

UK

Construction

‘Reasonable endeavours’ covenant imposes absolute obligation to arrange adequate finance to perform

Intellectual property

High Court sides with Austrian firm Red Bull

US

Antitrust

Generous payday awaits lawyers in credit card case

Novell can no longer pursue case against Microsoft

Banks

HSBC’s chief compliance officer resigns following damning report

Capital markets

Silicon Valley’s Workday on track for largest market debut since Facebook’s botched IPO

Tuesday
Jul172012

17 July 2012, Tuesday

Airlines

Malaysia Airlines quashes talk of CEO leaving

Capital markets

FBM KLCI closes at all-time high of 1,635.96

Commodities

Lion Group’s Megasteel in alliance talks with foreign parties

Energy

Decision on first-generation independent power producers by September

Gaming

Genting Malaysia could benefit from spillover effect of Singapore review of casino Act

Graft

Former Sime Darby CEO charged with criminal breach of trust

Islamic finance

Central issue is about the industry controlling its own destiny

Legislation

Minimum Wage Order 2012 gazetted, taking effect in 2013

Free copies of handbook on Competition Act 2010

Oil and gas

Johor and Taiwan’s CPC building RM35 billion petrochemical complex in Pengerang

Tax

Tourism Ministry proposes tax incentives for refurbishment of hotels

ASIA

Banks

We could be witnessing a sea change in Asian banking

Corporate governance

Concerns over CG likely to weigh on Sun Hung Kai Properties

Issues may haunt property giant for some time

Finance

Asian sovereign bonds gaining favour as an alternative safe haven

Insurance

Dai-ichi Life, Korea Life and Manulife submit final round bids for parts of ING’s Asian business

Intellectual property

Guangzhou Pharmaceutical wins dispute over ‘Wong Lo Kat’ trademark for herbal tea

AUSTRALIA

Consumer goods

Melbourne court orders dangerous toys be destroyed

Media

Seven West Media raising AUD440 million by selling new stock

EUROPE

Antitrust

EU raids car-parts companies

Banks

Bar raised for lenders’ capital requirements

SINGAPORE

Capital markets

Entry of Malaysia’s IHH could lead to more dual listings

Food and beverage

OCBC, insurance unit in talks with bidder on S$2.7 billion stakes in Fraser and Neave

Transport

SMRT fined maximum S$2 million for disruptions

UK

Banks

FSA investigating seven banks on suspicion of submitting false interest rates

Intellectual property

Global watch brand Rolex’s claims against Scottish retailer ROX dismissed

US

Antitrust

Philadelphia court challenges ‘pay-for-delay’ arrangement between Merck unit and rival firms

Controversy simmering for decades

Banks

HSBC ignored warning signs about money-launderers and potential terrorists

Technology

Yahoo snags Google veteran as new CEO

Monday
Jul162012

16 July 2012, Monday

Auditing

Senior partner of UHY Malaysia is first auditor to be penalised

Autos

British sportscar maker Group Lotus submits fresh plan

Capital markets

Major IPOs and listings in H1

Esso Malaysia to trade as Petron Malaysia Refining & Marketing from tomorrow

Commodities

Steel sector expected to fare better from Q4

Dispute resolution

Malaysia’s second-richest man and Indonesia’s James Riady to face off in Singapore

Insurance

MCIS Zurich confident half of new businesses will comprise ILPs within a year

Investment

Malaysia welcomes continued participation of Japanese financial institutions

Islamic finance

StanChart and CIMB target rich Muslims who have limited investment options

Policy interest-rate cuts lowering Sukuk yields

Kimanis Power obtains regulatory approval to issue RM1 billion Sukuk

Legislation

Age for partial, full withdrawal under Employees Provident Fund Act 1991 may be raised five years

Repeal of Sedition Act greeted with cautious optimism

Publishing

Case against Berjaya Borders staff brought forward to August

Real estate

Malaysian REITs still offer good value as defensive plays

Telecommunications

Time dotCom could become serious contender to Telekom Malaysia

Tort

Student pays heavy price in defamation suit

ASIA

Commodities

Malaysia’s stranglehold on processing could be threatened as Indonesia rushes to build refineries

Increasing concerns about Indonesia’s and Malaysia’s growth prospects

Facts about Indonesia’s palm oil tycoons

Gaming

Macau no longer unique as casinos spring up in other parts of Asia

Insurance

Wide range of suitors expected for ING’s Asia business

Investment

General Electric becomes first US company to restart business in Myanmar

Tax

China relaxes rules on withholding taxes to encourage more overseas investment

AUSTRALIA

Data protection

Do organisations always need to keep on record the information they’ve sighted?

Insolvency

Courts reluctant to interfere with recovery of taxes

Property

Singapore’s Straits Trading Company acquires historic 100-year-old Rendezvous Hotel

CANADA

Financial regulation

Competition Bureau investigating possible Canadian link to Libor scandal

Mergers and acquisitions

Canada approves Glencore’s acquisition of grain handler Viterra

SINGAPORE

Capital markets

Goldman Sachs moves high-profile banker from Hong Kong to Singapore

Gaming

Review will help mitigate risks while ensuring IRs continue to deliver economic value

UK

Corporate governance

Three major recent developments

Employment

Restrictive covenant will only be upheld where it is reasonable

Financial regulation

Barclays traders could face possible US charges by September

Regulators will face further scrutiny for their role in rate-manipulation scandal

Mergers and acquisitions

GlaxoSmithKline nearing deal to acquire Human Genome Sciences

US

Antitrust

Visa, MasterCard agree to settlement in price-fixing case

Capital markets

Football club Man United’s US listing faces significant risks

Employment

Minimum-wage laws constrain employees

Technology

Struggling RIM infringed on Mformation patents

BlackBerry maker 'on its deathbed’

PC makers pin hopes for change in fortunes on Windows 8 OS

Friday
Jul132012

13 July 2012, Friday

Aquaculture

Fisheries Department sets 800,000-tonne target

Banks

Royal Bank of Scotland’s Indian units not included in sale of Asian operations to CIMB

Currency

RM20 banknote making a comeback after 16 years

Central bank statement

Capital markets

IHH Healthcare raises RM6.3 billion

Competition

Information sharing between businesses wrong when it has an adverse effect

Insurance

General Insurance Corporation of India launches Labuan branch

Islamic finance

Syarikat Prasarana Negara plans RM4 billion Sukuk

Islamic Financial Services Board workshops for Q3 and Q4 2012

Registered Shariah advisers as at 30 June 2012

Real estate

British High Commission land could be put on the market next week

Telecommunications

Maxis partners REDtone International on rollout of 4G networks

Maxis' exit from India 'pure speculation'

ASIA

Banks

China’s corporate bond market is booming

Telecommunications

Maxis: India’s regulatory uncertainties could undo sector’s success

CANADA

Intellectual property

Top court broadens concept of ‘fair dealing’ through five major copyright decisions

Music previews considered a fair dealing

Mergers and acquisitions

Maple wins final regulatory approvals to close purchase of TMX

Direct Edge talks highlight strategy Maple had in mind

EUROPE

Autos

Peugeot Citroen cutting jobs, closing plant; another Opel CEO pushed aside

Fashion

Valentino the latest Italian luxury brand to be bought by a foreign investor

SINGAPORE

Intellectual property

Competency Framework will be launched by end-2012

Real estate

CapitaLand sells entire 20.75% stake in Malaysian developer UM Land

More REIT listings likely to spur acquisitions

Orchard Parade Holdings proceeds with plans to list Far East Hospitality Trust

UK

Banks

HSBC faces US$1 billion fine for money-laundering offences

Scrutiny by regulators on both sides of the Atlantic

Brands

Amazon tops new league table of most trusted business names

Clothing retailer Marks & Spencer sees biggest quarterly drop in sales since Q3 2008

Dispute resolution

Courts’ authority to make property freezing orders over property situated abroad

Service of a claim form and meaning of ‘usual residence’

US

Capital markets

Change in composition of DJIA when Kraft Foods splits in two

Real estate

Long-term prospect of REIT industry looks favourable