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Daily News

 

Thursday
Jul262012

26 July 2012, Thursday

Airlines

New opportunities for MAS through induction into oneworld alliance

AirAsia X plans on using funds raised from potential listing to double fleet capacity

Asian associates carried more passengers during April-June

Autos

Much left to be done before Proton can proclaim itself ‘world class’

Capital markets

IHH Healthcare replaces MMC in FBM KLCI

More IPOs in the pipeline

Commodities

Concerns over continued ‘protection’ of Megasteel

Energy

Six solar power contracts revoked for non-compliance

SEDA has no legal power to refuse awards

Insurance

Chartis Malaysia plans awareness campaigns on risk management and prevention

South Korean insurer said to be potential buyer of ING Malaysia’s operations

Islamic banking

Local bank loses RM75 million after buying fake gold

Manufacturing

Glove producer Supermax assessing feasibility of South America plant

Publishing

Berjaya Books applies to stay further action by Federal Territory Islamic Department

Tax

New IRB guidelines on transfer pricing and advance pricing arrangement

Transfer pricing guidelines

Advance pricing arrangement guidelines

Tort

Credit information companies cannot claim qualified privilege in defamation suit

ASIA

Airlines

AirAsia buys Indonesian LCC Batavia Air

Management

Nomura Holdings CEO takes responsibility for leaks of insider information

AUSTRALIA

Airlines

AirAsia X plans daily KL services to Sydney, Melbourne and Perth by end-2014

Capital markets

ASX deepens links with former merger hopeful Singapore Exchange

EUROPE

Antitrust

European Commission looking into other market benchmarks

Tighter supervision considered

Nine drug companies charged with blocking entry of cheaper generic medicines

Intellectual property

Judge rules against Gucci siblings

NEW ZEALAND

Competition

Commerce Commission declines first clearance application since October 2008

Property

Crown can compulsorily acquire private land on behalf of network operators for public work

SINGAPORE

Financial regulation

Central bank orders review of benchmark interbank borrowing rates

Mergers and acquisitions

Heineken may need to raise offer to buy out other investors in APB

UK

Construction

Guidance on concurrent delay, global claims and use of formulae in overhead recovery claims

Insurance

Insurers should secure ‘home advantage’ wherever and as quickly as possible

US

Capital markets

Man United’s planned IPO temporarily on hold

Intellectual property

Impact of termination rights on music industry

Wednesday
Jul252012

25 July 2012, Wednesday

Arbitration

Tycoon seeks enforcement of order on payout

Capital markets

Bursa Malaysia looking into trading activities of Cybertowers

Hospital operator IHH Healthcare up on Malaysia, Singapore debut

Bragging rights, but also government’s dominance in business and lacklustre private enterprise

Competition

MyCC still investigating Malaysia Airlines-AirAsia share-swap deal

Employment

Minimum wage policy needs comprehensive review

Healthcare

IHH may consider smaller acquisitions to add to Acibadem purchase

Negligence

Former graphic designer blames football association for loss of right eye and income

Property

Axis REIT Managers looking to acquire seven new properties

Societies

Minister's order on Bersih 2.0 'tainted with irrationality'

Ruling does not legalise past actions

Tax

EU extends tariff on construction material from China

Telecommunications

Axiata likely eyeing licence in bustling Myanmar

ASIA

Commodities

Indonesia probes claims that Taiwan, Japan, Vietnam, China and South Korea engaged in dumping

Energy

Hong Kong billionaire boosts gas portfolio in Britain

Insurance

AIA secures funding from eight banks to back bid for ING Asia operations

Islamic banking

Philippines’ sole Shariah-compliant bank continues to lose money

AUSTRALIA

Intellectual property

Trademark must be capable of distinguishing relevant goods or services from those of other traders

Property

Australia most popular with non-Asian investors

CANADA

Employment

Refusal to sign proposed non-compete agreement did not constitute sufficient cause for dismissal

Social media

Corporate in-house counsel increasingly relying on blogs and external law firm’s online presence

Tax

Changes intended to close tax loopholes might erode benefits of doing business in Canada

EUROPE

Competition

Optical disc drive producers may have breached EU rules by rigging bids

Swiss Competition Commission investigates Cisco

Regulators warm to Google’s latest proposals

Technology

Samsung Galaxy Tab 7.7 banned from sale across EU

GLOBAL

Insurance

After Libor scandal, bankers looking to buy coverage face intense scrutiny

Tax

Practice of transfer pricing under scrutiny

SINGAPORE

Mergers and acquisitions

Deutsche Bank, Goldman Sachs tapped to advise Kirin and F&N in battle for APB

Property

Tenants cannot assume tenancy extended beyond original lease just because they continue to pay rent

UK

Bankruptcy

Principles of English and US insolvency law quite similar, but interpretation different

Mergers and acquisitions

London Metal Exchange shareholders decide today on Hong Kong bourse’s offer

Sport

English Premier League releases first ever guidelines on social media

US

Employment

How employees on the move can protect themselves from pitfalls of restrictive documents

Insurance

ACE raises profit forecast despite higher claims in crop insurance segment

Real estate

REITs should comprise no more than 10% of your income portfolio

Tax

Semiconductor maker Altera and tax agency in transfer pricing dispute

Tuesday
Jul242012

24 July 2012, Tuesday

Airlines

AirAsia opting out of JVs with Malaysia Airlines

Banks

Public Bank’s Q2 profit little changed

BNM unit piloting mobile banking services with Maybank, CIMB and Public

Capital markets

Kuala Lumpur running neck-and-neck with Shenzhen as Asia’s top destination for IPOs

Employment

Private-sector employers may raise workers’ retirement age at their discretion

Energy

Foreign buyers interested in power assets but no willing sellers

Investment

Iskandar Malaysia secured RM10.7 billion in first six months

Islamic finance

More room to allocate part of retirement contributions to Islamic investments

Legal services

Embrace liberalisation by investing in international alliances with foreign partners

Malaysian IP lawyer among three Adelaide alumni making an impact

Legislation

Revised draft of Animal Welfare Bill can be viewed online next month

Media

Six companies expected to bid for digital terrestrial television broadcasting job

Real estate

Sabah should have a tribunal to deal with native land matters

Tort

Terengganu suit against state assemblyman and PAS newsletter struck out

ASIA

Competition

Japan’s three largest beer wholesalers warned about price fixing

Financial services

Growth, innovation and dynamism likely to migrate beyond the West

Islamic finance

Kazakhstan launches first Sukuk

Mergers and acquisitions

Thai Beverage sounding out HSBC, StanChart and Sumitomo

AUSTRALIA

Competition

Care is needed when a company with market power refuses to deal with a competitor

Businesses need to be conscious of the market within which they operate

Intellectual property

Registration of trademark for services where mark is also name of building from which the services are supplied

Property

Failure to register a lease upon a guarantee

CANADA

Intellectual property

Canada’s IP laws could use an overhaul

Oil and gas

Alberta’s Nexen agrees to takeover by Cnooc

EUROPE

Banks

Eurozone banks cutting assets in US

Deutsche Bank expecting huge fine over involvement in Libor rate-rigging scandal

Competition

UPS faces ‘in-depth’ review of proposed US$6 billion acquisition of TNT Express

Innovation

A redefined purpose has helped Lego innovate in a constructive way

SINGAPORE

Arbitration

Astro to argue case today

Capital markets

Singapore Exchange CEO anticipates 2,000 IPOs annually in Asia by 2020

Mergers and acquisitions

Disposal of APB stake could spur breakup of F&N

UK

Financial regulation

Six individuals guilty of running insider dealing ring

Real estate

Shariah-compliant Gatehouse Bank completes acquisition of US industrial real estate portfolio

Tort

ISPs not common law publishers and therefore not liable for online defamatory posts

US

Antitrust

Dell gets nod to buy IT management company Quest Software

Earnings

Toymaker Hasbro tops Wall Street’s profit expectations for first time in six quarters

Technology

Apple, Samsung Electronic disagree on value of patents

Important test of how Facebook is doing will come on Thursday

Neither Apple nor RIM had violated Kodak’s rights in digital image-preview technology

Monday
Jul232012

23 July 2012, Monday

Banks

Public Bank releasing Q2 results today

No M&A on the horizon for Alliance Financial Group

Capital markets

Guan Chong’s IPO roadshows attract strong response from institutional investors

Senior lawyer claims trial to seven counts of insider trading

Communications

Second edition of Malaysian Communications and Multimedia Content Code being reviewed

Competition

MyCC investigating Cameron Highlands Floriculturist Association

Financial services

Positive outlook, particularly in insurance

Islamic banking

Bank Muamalat teams up with Bank of Shi Zui Shan on framework for China

Media

Malay-language newspaper has to decide what it wants to be

Real estate

Strong sales for certain segments

Luxury lakeside residence The Haven set for completion by mid-2013

Last 100 units released for sale

Tenants against sale of Bukit Bintang Plaza

Takaful

PruBSN ties up with StanChart Saadiq

Tax

Federal Court to decide on conflicting Court of Appeal decisions

RM893 billion siphoned out into tax havens abroad between 1970 and 2010

Utilities

Sarawak Energy may be sued over Kuching power failure

ASIA

Banks

Indonesia identifies those at risk of being acquired or merged with another

New rule will likely expedite consolidations but pose challenges for smaller lenders

Insurance

Executives want to break cycle of paying for the same losses over and over again

AUSTRALIA

Health

Dominican Republic third country to complain about Australia’s tobacco packaging laws

Insolvency

Circumstances in which liquidator may be removed to further better conduct of liquidation

Property

Court clarifies meaning of a ‘residential’ use or building

Technology

Samsung Electronics and Apple go to trial

EUROPE

Competition

Food supply chain high on the agenda

Google-EU settlement deal could be expanded to include former’s Android mobile technologies

Manufacturing

Engineering conglomerate Siemens set to report decline in Q3 new orders

GLOBAL

Financial regulation

Libor probe: Arrest of individual traders imminent

Regulators balked at playing a more public role in 2008

Tax

Super-rich elite exploit gaps in cross-border tax rules to hide wealth offshore

NEW ZEALAND

Health

Philip Morris fights back against laws and price rises

Q2 net income down 4% on lower cigarette volume

British American Tobacco joins competitor in blasting anti-smoking rules

Intellectual property

Independent liquor chain wins trademark case against Scotch Whisky Association

SINGAPORE

Capital markets

Asia Pacific Breweries rises on Heineken’s bid

Reliance Communications shelves planned Singapore IPO by undersea cable unit

Mergers and acquisitions

Benefits of Singapore-London tie-up aren’t compelling

Singapore, London bourses not in merger talks

UK

Autos

Fresh doubts about DRB-Hicom’s long-term plans for Lotus and its employees

DRB-Hicom pushing on with request for public money to expand Norfolk factory

Construction

Avoiding the risks of contractual uncertainty

US

Agriculture

World faces new food crisis

Technology

Apple-Samsung battle likely to continue for next 12 months

Tech innovation in for a continued shaky ride

Friday
Jul202012

20 July 2012, Friday

Autos

Honda Motor’s second production line will start operating by end-2013

Honda Malaysia first non-national auto manufacturer to produce hybrids

Europe’s largest car maker Volkswagen may renew bid for Proton

Sales should pick up in H2

Competition

Too early to say whether Competition Act’s potentially conflicting priorities can be reconciled

Earnings

British American Tobacco’s Q2 pre-tax profit up 14% from Q2 2011

Islamic capital market

Axiata plans to raise up to US$1.5 billion via multi-currency Sukuk

Standard & Poor’s assigns ‘BBB-’ rating

Shariah Advisory Council has a new line-up

Legal services

Trowers & Hamlins, Allen & Overy and Norton Rose could be interested in practising here

Legislation

Animal Welfare Bill 2012 may be tabled next year

Oil and gas

Petronas secures fourth JV for Rapid project

Takaful

Etiqa’s IFS rating affirmed at ‘A’ with stable outlook

Telecommunications

Jalur Lebar Nasional investing RM850 million in HSBB infrastructure

Utilities

Tenaga Nasional reports second straight quarterly profit

ASIA

Economy

Optimism around Asia is fading

Gaming

Wynn Macau reports 7% drop in Q2 revenue

AUSTRALIA

Insurance

‘Nil’ damages award for future economic loss as backpacker’s earning capacity not impaired

Intellectual property

Parallel importers' defence to claims of infringement not that easy to establish

Media

Private equity firm TPG may form consortium to bid for debt-laden Nine Entertainment

Tax

Café culture in taxman’s sights

CANADA

Competition

Korean Air is seventh airline fined in air cargo price-fixing cartel

Human rights

Equity partner not employee of law firm

Partnership not a separate legal entity

EUROPE

Competition

Scotch Whisky Association alleges Scotland’s plan to set minimum price per drink is illegal

Technology

Ailing Nokia turns in another thumping loss

Analysts’ reactions

GLOBAL

Financial regulation

Central bankers and regulators to discuss Libor in September

Islamic finance

Private banking ‘still has some way to go’ at catering to needs of wealthy Muslims

SINGAPORE

Dispute resolution

British QCs face off next week in mammoth battle between Malaysia’s Astro and Indonesia’s Lippo

Food and beverage

Heineken responds to surprise move on Asia Pacific Breweries with S$5 billion bid

Dutch brewer wary of embracing Thai Bev as an ally

Mergers and acquisitions

Exemption from Indonesia’s 40% ownership cap paves way for DBS-Bank Danamon deal

UK

Competition

Telco’s appeal may lead to change in regulator’s investigation powers on price control matters

Media

New battlefront opens in long war between Financial Times and The Times of India

Mergers and acquisitions

London, Singapore bourses in talks about potential £7 billion deal

Combined exchange group would rank third in the world

US

Antitrust

Federal court strikes down pay-for-delay settlement between Schering-Plough and rival

Capital markets

Guitar maker Fender changes tune on IPO