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Daily News

 

Wednesday
Dec052012

5 December 2012, Wednesday

Capital markets

Ibraco rises on news of mixed development in Bintulu

Competition

Technical-level committees under MyCC and MCMC, financial services will be set up

Employment

Minimum wage policy deferred for companies employing five workers or fewer

Insurance

AIG Malaysia not ruling out deals to accelerate growth of general insurance arm

Investment

Iskandar Malaysia could surpass RM100 billion investment target by year-end

Malaysia setting up ‘expatriate services division’ in bid to attract more foreign talent

Private investment likely to grow 30% in 2013

Malaysia not investing enough, says former finance minister

Legislation

International Transfer of Prisoners Bill 2012, Strata Titles (Amendment) Bill 2012 and Employees’ Social Security (Amendment) Bill 2012 passed

Traditional and Complementary Medicine Bill 2012 passed

More whistleblowers come forward

Property

Bandar Raya Developments launches Serai Bukit Bandaraya in Bangsar

Revenue

Customs department confident of meeting collection target

Sport

Singapore billionaire plans motorsports-themed development in Johor

Telecommunications

Telekom Malaysia formalises collaboration agreements for a connected Nusajaya

Tort

Student cited for contempt of court is in Europe

ASIA

Insurance

Thai company acquires HSBC’s stake in China’s Ping An

Islamic finance

Shariah-compliant project financing will benefit Brunei

Indonesian move to cut Sukuk sales in 2013 will extend decline in rupiah yields

Retail

Financial crimes watchdog probing whether Wal-Mart broke FDI rules

AUSTRALIA

Intellectual property

Jurisdiction of Federal Magistrates Court expanded to include more IP matters

Decide early on which form of protection is most suitable

CANADA

Employment

Information hidden by employee was related to his job and, therefore, could be asked

Insurance

Companies should treat their insurance coverage and contracts as they do other important commercial contracts

Intellectual property

Employers well advised to consider and record where ownership of all software resides

Oil and gas

Progress Energy CEO hopeful of Ottawa decision on Petronas’ takeover by end-December

EUROPE

Banks

Finance ministers divided over how to establish common banking regulator

Competition

Spanish regulator raids manufacturers of fire-protection systems

SINGAPORE

Airlines

SIA could use funds from Virgin stake sale to invest in China or India

Islamic finance

Sector can ride wave of demand for simpler and more basic investments

UK

Dispute resolution

Measure of damages for wrongful non-delivery of goods

Monarchy

Princesses to have equal claim to throne

Property

Battersea Power Station flats will be marketed from January; construction begins in summer

Retail

Billionaire in advanced talks over sale of 25% stake in Topshop and Topman

US

Antitrust

Disney cleared to buy Lucasfilm

Hewlett-Packard claims LCD makers conspired to fix prices

Employment

Former associate sues Greenberg Traurig for gender discrimination

Insurance

AIG an ‘Outperform’ in the long run

Tuesday
Dec042012

4 December 2012, Tuesday

Airlines

Malaysian Airlines System needs to be more imaginative to improve operational efficiency

Autos

Proton says loss-making Lotus not for sale

Banks

RHB Bank and Indonesia’s Mestika Benua Mas extend period to sign conditional S&P

Capital markets

‘Invest ASEAN 2013’ roadshow will kick off in Bangkok next month

Education

Heriot-Watt University of Edinburgh opens Malaysian campus

Investment

More than 8,000 investors of Genneva Malaysia yet to receive their gold

Gold trading firm’s liabilities way exceed its assets

Joint statement

Central bank has no legal authority to return investors’ money from frozen accounts

Islamic finance

Long delay in delivery of gold after payment violates Shariah principles of Sarf

Malaysia should take lead in issuing world’s first corporate social responsibility Sukuk

Mergers and acquisitions

Adelaide Brighton buys into Malaysian cement business

Oil and gas

Eversendai acquires 11.19% stake in Singapore-listed Technics

UMW Holdings may list O&G unit next year

Printing

Percetakan Nasional Malaysia eyes bigger slice of business from private corporate clients

Real estate

Chinese developer buys prime waterfront land in Johor for RM1 billion

UEM Land inks deals with six companies to develop Phase 2 of Bandar Nusajaya

UEM Land issuing RM2 billion Sukuk

ASIA

Banks

'Indonesian banks not ready to compete head-to-head with counterparts in SE Asia’

Doubt as to ability of Indonesian banks to compete in Singapore

Intellectual property

‘Haager-Dasz’ removed as a trademark for clothing items

AUSTRALIA

Islamic finance

Major lenders could become first Australian companies to tap Malaysia’s Sukuk market

EUROPE

Banks

UBS on track for record fine in wide-reaching rate-rigging scandal

Competition

Dawn raid only if there are reasonable grounds for suspecting infringement in a particular sector

SINGAPORE

Gaming

Deutsche halves growth estimate for gaming market in 2013

Industrial action

Judge agrees with prosecution’s call for deterrent sentence

SMRT 'could have done better in managing labour grievances'

UK

Transport

London’s black cabs following red phone boxes and Routemaster buses towards extinction

US

Accounting

Chinese affiliates of Deloitte, E&Y, KPMG, PwC and BDO charged with securities violations

Financial regulation

Regulators assessing impact of dropping global interest rate in favour of another measure

Intellectual property

Yoga guru reaches settlement with former protégé

Monday
Dec032012

3 December 2012, Monday

Banks

S&P views RHB’s capital and earnings as ‘adequate’

Capital markets

Iskandar Waterfront may list by early 2013

Remisiers say floor rate would attract and retain talent within stockbroking industry

Corporate governance

Bursa Malaysia amends listing requirements

Earnings

Worst could be over for blue-chip companies

Healthcare

Potential shortfall in healthcare financing in 2020

Islamic finance

RHB Islamic opens first branch in Kedah

Metals

Hearing of application for judicial reviews to permanently block Lynas plant in February

Property

Mayland focusing on residential developments, hospitality business

Prices in Kota Kinabalu up 20% every 10 years since 1970s

Tort

Police report protected by absolute privilege

ASIA

Capital markets

Indonesia Stock Exchange to start trading at 9am from January

PICC raises US$3 billion in Hong Kong’s largest IPO of the year

Insurance

Prudential riding wave of demographic change in emerging Asia

AUSTRALIA

Health

Stringent anti-tobacco laws a potential watershed for global industry

Insolvency

Court will look at substance over form in deciding whether employer-employee relationship exists

EUROPE

Antitrust

United Parcel Service and TNT Express battle to keep acquisition on track

Technology

EU and US about to take on Russia in Internet battle

SINGAPORE

Airlines

SIA may divest 49% stake in Virgin Atlantic

Unclear whether Virgin boss willing to relinquish majority stake

Tort

Muddy Waters either prepared for hard-fought battle or feels that it is beyond reach

UK

Finance

Security trustee under inter-creditor agreement owes duties to mezzanine lenders equivalent to those owed by a mortgagee to a mortgagor

Media

British press has vowed to clean up its act before, only to end up back where it started

Tax

Treasury wants to work with other jurisdictions to close loophole

Coffee chain Starbucks opens negotiations to change financial structures

US

Antitrust

AU Optronics and Toshiba settle LCD price-fixing claims

Biotechnology

Supreme Court to review whether genes linked to hereditary breast and ovarian cancer can be patented

Intellectual property

Companies finding new and creative ways to deal with ‘patent troll’ problem

Technology

Internet security guru McAfee’s ‘catch me if you can’ game wearing thin with investigators

Implosion of Autonomy deal raises questions about how H-P could have overlooked warning signs

Four big fish should not let size go to their heads if they really want to keep trustbusters at bay

Friday
Nov302012

30 November 2012, Friday

Autos

Proton’s turnaround plan revealed soon

Commodities

Anti-dumping duty for cheap steel imports enforced next year

Earnings

Axiata reports 20% increase in Q3 net profit

Carlsberg Brewery Malaysia’s Q3 net profit up 25% year-on-year

Genting’s net profit for Q3 down 45%

Halt in production in Sudan, pressure on margins dent Petronas’ performance

Metals

Lynas starts production at controversial Malaysian plant

Oil and gas

Petronas won’t consider listing itself to gain Canada’s approval for Progress Energy bid

Petronas confirms resubmitted bid for Progress Energy

Personal injury

Aylezo Motorsports and Sepang International Circuit liable for student’s injuries

Real estate

Singaporean businessman’s JV with Johor royal family approved

Trade

Australian Senate passes legislation to create stronger ties with Malaysia

ASIA

Banks

Mitsubishi UFJ submits preliminary bid for General Electric’s stake in Bank of Ayudhya

CIMB not bidding for GE stake

Mergers and acquisitions

Reform announcements seem to have buoyed the spirits of India Inc

Wealth

Emerging middle class helped boost fortunes of Indonesia’s wealthiest citizens

Forbes list

AUSTRALIA

Airlines

Battle with Virgin Australia continues to eat into Flying Kangaroo’s revenues

Health

Existing smokers turned off by drab brown packaging

GLOBAL

Economy

World economy in its best shape in 18 months

Technology

Dubai conference will see nothing less than a fight over the future of the Internet

SINGAPORE

Commodities

Olam reviewing all legal options

Tobacco

Cigarettes sold must bear new marking from March

UK

Data protection

British marketing company fined £440,000 for sending millions of unlawful text messages

Intellectual property

Landmark decision could significantly alter patent litigation across Europe

Media

British press should have an independent press regulator backed by law

Exemption only when stories are in public interest

Many good things about Leveson’s ideas

Mergers and acquisitions

Germany’s Siemens to buy rail signalling business of Invensys

US

Intellectual property

Dunkin’ Donuts fails in bid to trademark ‘Best Coffee in America’

Legal education

Law school enrolment down 15% since 2010 and 9% since last year

Dean calls for end to relentless attacks on law school

Social media

Should Twitter lay claim over its user-generated content?

Tobacco

Altria enacting price hike across all its cigarette brands on shipments starting Monday

Thursday
Nov292012

29 November 2012, Thursday

Airlines

Taking Malaysia Airline System private may be better than bankrolling cash call

Malaysian Airline System tumbles on rights issue plan

Autos

National carmaker plans comeback in Australia and UK

Banks

CIMB expects to secure IB licences in Mumbai, Taipei and Seoul

Earnings

IHH Healthcare’s Q3 net profit drops 47%

Maxis’ Q3 net profit down 18%

UEM Land’s Q3 pre-tax profit rises

Employment

Affin Bank at liberty to offer new contract on different terms, even if less favourable than old one

Food and beverage

F&N expects to remain market leader in ready-to-drink category

Insurance

Khazanah Nasional believed to be among suitors for CIMB Aviva

Intellectual property

MyIPO seminar on IP registration procedures next week

Sarawak Bario rice, sour eggplant and layer cake registered with MyIPO

Legislation

Amendments proposed to s 36 Malaysian Anti-Corruption Commission Act 2009

ASIA

Capital markets

PICC relying on cornerstone investors to seal Hong Kong’s biggest IPO in two years

Fraud

New report catalogues alleged wrongdoing at Kabul Bank

Health

Indonesia to increase tobacco tariffs next year

AUSTRALIA

Competition

Conditional approval for Nestlé’s proposed acquisition of Pfizer unit

Employment

Employers need to consider new strategies of addressing workplace sexual harassment

EUROPE

Antitrust

Piano maker Steinway’s Swiss dealers raided

Islamic banking

Kuveyt Turk aims to become first Islamic bank in Germany

SINGAPORE

Commodities

Olam-Muddy Waters battle casts spotlight on common accounting practices at commodities firms

Industrial action

First significant industrial action in three decades underlines treatment of lower-skilled foreign workers

Singapore responds with riot police and strident criticism

Sport

Asian Tour loses restraint of trade case; ordered to repay fines imposed on four golfers

Utilities

Sembcorp Industries seeks investments in Myanmar, opportunities in Indonesia

UK

Autos

New backer for Aston Martin may help it develop cars that can challenge Bentley and Ferrari

Banks

Carney a brave man to take up BoE challenge, but a foolish one

Media

Leveson recommendations could change Britain’s media landscape irrevocably

Technology

Student reaches agreement to avoid extradition to US and possible jail

Extradition battle started with a knock on the door and ended with a tweet

US

Intellectual property

Sweden’s Ericsson launches legal action against Samsung

Mergers and acquisitions

Ho-hum merger activity underscores CEOs’ reluctance to use near-record cash pile

Technology

Shareholder claims Deloitte and KPMG missed red flags about Autonomy’s accounting

Hewlett-Packard should be split into two businesses