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Daily News

 

Friday
Feb142014

14 February 2014, Friday

Banks

Interim chief of Maybank IB promoted

Association of Banks in Malaysia aims to reduce cheque issuances

Biotechnology

Chemical Company of Malaysia buys into South Korea’s PanGen Biotech

Capital markets

SCH Group eyes Main Market listing in three years

GreenTech to continue 2% rebate

Data protection

Malaysian Medical Association requests exemption of doctors as data users

Earnings

Alliance Financial Group’s Q3 profit rises on higher net interest income

MISC’s Q4 revenue down

Westports’ Q4 net profit up 19%

E-commerce

MyEG Services bags Royal Malaysian Customs contract

Employment

Former employees of PKNS Holdings file appeal with Department of Industrial Relations

Investment

FDI in 2013 beat 2011 record

Lembaga Tabung Haji confident of RM50 billion fund size by year-end

Oil and gas

Perwaja Steel, Petronas reach settlement

JGC, Samsung Heavy secure Petronas LNG project

PDZ major shareholder in talks on Efogen stake

Property

Sector could see a rebound by H2

Hektar REIT records 10% y-o-y increase in net property income for Q4

Five factors to consider before deciding to rent or buy the premises you run your business in

ASIA

Aviation

Manufacturers of smaller aircraft find bigger market in Asia-Pacific

Gaming

Melco Crown Entertainment’s Q4 profit boosted by flood of wealthy Chinese punters

SJM Holdings to spend more on first resort in Macau’s Cotai area

AUSTRALIA

Competition

Pfizer said to have misused market power in sale of popular cholesterol-lowering medicine

Construction

Builders’ liability for economic loss caused by latent defects

Employment

Union-authorised restriction on overtime constituted unlawful adverse action against employer

EUROPE

Banks

BNP Paribas sets aside US$1 billion for possible US fine

Legislation

Belgium’s Parliament votes to extend euthanasia law to minors

SINGAPORE

Earnings

DBS, OCBC see higher Q4 core profit

Real estate

CapitaMalls Asia’s Q4 profit up 17%; may open four new malls this year

UK

Competition

Europe’s largest LCC Ryanair appeals UK ruling on Aer Lingus stake

Earnings

Engine manufacturer Rolls-Royce latest major UK company to warn on profits

Economy

England and Scotland could be heading for the divorce courts

Legal services

London firms up in arms over changes to tax rules governing limited liability partnerships

Sheridans believed to be UK’s first legal practice to accept bitcoin

Property

Malaysia’s pilgrims fund acquires Unilever’s HQ

US

Antitrust

Japanese tyre and rubber maker Bridgestone pleads guilty in price-fixing conspiracy

Earnings

Thomson Reuters forecasts 2014 revenue will be flat, Q4 results worse than expected

Insurance

AIG’s Q4 profit beats expectations

Legal services

LexisNexis Counsel Benchmarking enables general counsel to forecast cost of litigation

Real estate

Luxury-apartment owners in New York test upper limits of what buyers are willing to pay

Thursday
Feb132014

13 February 2014, Thursday

Administrative law

United Allied Empire allowed to challenge religious authorities’ compulsory acquisition of its land

Airlines

FireFly to focus on Asean

Malaysian Airline System awards 10-year service contract to Pratt & Whitney

MAS expects revenue growth of 15%-20% for India

Malindo Air launching daily KL-Bangkok flights in April

Capital markets

Winsun Technologies to trade as Wintoni Group from tomorrow

Construction

MRCB eyeing UEM Builders

Economy

Fiscal deficit trimmed to 3.9% of GDP last year

Employment

Federation of Malaysian Manufacturers proposes review of minimum wage

Government

Sarawak’s fifth chief minister identified

More foe than friend to Iban and other ethnic groups

Insurance

Zurich, Sanlam in talks

Investment

RM2 billion worth of investments for Greater Kuala Lumpur

Japan’s Imagica establishing first overseas venture with Khazanah Nasional

Islamic finance

Bank Islam, Selangor MB may opt for out-of-court settlement

AmIslamic Bank can proceed with subordinated Sukuk Murabahah programme

Oil and gas

MISC named in legal document leaked by disgruntled employee of SBM Offshore

Property

Johor to clarify uncertainties arising from recent curbs

Telecommunications

Successful buyer of Green Packet’s stake in P1 known this month

Water services

Federal government finalising steps before invoking s 114 Water Services Industry Act 2006

ASIA

Gaming

Change in legislation could make Vietnam an attractive bet for Las Vegas Sands, Genting

Tax

India poised to scrap talks with Vodafone over US$2 billion tax dispute

AUSTRALIA

Capital markets

Australian Securities Exchange benefits from strong recovery in IPOs

Employment

Manager’s conduct constituted breach of his duties

Telecommunications

Telstra’s H1 profit up 9.7%

Telstra says SingTel Optus ads make false and misleading claim

CANADA

Insurance

Sun Life’s Q4 profit beats analysts’ estimates

Oil and gas

Talisman Energy posts US$1 billion loss in Q4

EUROPE

Earnings

ING’s Q4 profit exceeds analysts’ estimates

Heineken will continue to grow in emerging markets, albeit at slower pace

Telecommunications

Telenor expanding in Asia, eastern Europe

GLOBAL

Autos

Toyota recalling 1.9 million Prius hybrids to fix software glitch

Employment

King & Spalding ropes in 14 independent firms to form new alliance

SINGAPORE

Insurance

Health insurance among best-performing market segments

Property

CapitaMall Trust offering up to S$200 million in seven-year retail bonds

Frasers Centrepoint looking to replenish landbank in mass and mid-market segments

Telecommunications

SingTel’s Q3 profit up 6%

UK

Investment

Qatar focusing on real estate, commodities and infrastructure

Real estate

Owners of Walkie Talkie ‘Fryscraper’ propose solution

US

Antitrust

Cathay Pacific settles class-action case for US$65 million

Insurance

MetLife profit up in Q4

Technology

Yahoo acquires social journaling app Wander

Will Marissa Mayer be Yahoo’s saviour or its next big problem?

Wednesday
Feb122014

12 February 2014, Wednesday

Airlines

AirAsia boss’ ‘big battle’ tweet keeps market guessing

AirAsia X suspending services to Male, Maldives from March

Banks

Healthy financial positions should mitigate effects of high household debt and property prices

Capital markets

Carlsberg Brewery, Guinness Anchor among top gainers

Securities Commission approves listing of 7-Eleven Malaysia

Weststar Aviation Services plans flotation by Q1 2015

Nakamichi still in limbo

Economy

Malaysia’s high debt burden and fragile ringgit still a concern

Insurance

Great Eastern Life Assurance confident of higher new business embedded value

Islamic finance

Saturna unit launches ringgit-denominated fund

Media

Malaysia ranked below Myanmar in 2014 World Press Freedom Index

Oil and gas

Petronas eyeing Indian Oil as investor and LNG buyer

Petronas postpones start of operations at Sabah facility on technical issue

SapuraKencana Petroleum completes acquisition of Newfield Malaysia

Real estate

1MDB sets reserve price for Tun Razak Exchange development

Land & General-Mayland JV project may be launched end-2014/early 2015

Tax

Hefty fine for taxpayers who lie on TP1 forms

Telecommunications

Maxis’ Q4 profit down 23%

ASIA

Aviation

Airbus and Boeing battling over Asia

LCCs starting to target long-haul routes

Investment

France’s Danone raises stake in China’s largest milk producer

AUSTRALIA

Earnings

Record interim profit for Commonwealth Bank of Australia

Employment

Stock controller fired for taking Milo home is reinstated

Importance of precision in drafting written warnings and termination notices

EUROPE

Mergers and acquisitions

Nestlé sells €6 billion stake in L’Oréal back to French cosmetics firm

Sport

Allianz takes up stake in Bayern Munich; third strategic partner alongside Adidas and Audi

SINGAPORE

Dispute resolution

Singapore seeks to remake itself as Asia’s one-stop legal city

Negligence

Remisier King’s ex-wife sues HSBC

UK

Data protection

Common names of people not ‘personal data’

Financial regulation

Head of Financial Conduct Authority wants to end regulation through ‘rearview mirror’

US

Capital markets

Blackstone-backed La Quinta files to raise US$100 million in IPO

Earnings

TripAdvisor’s Q4 profit hurt by weak margins

KPMG replaces Ernst & Young as TripAdvisor auditor

Tuesday
Feb112014

11 February 2014, Tuesday

Banks

Minimum collective assessment ratio of 1.2% by end-2015

Earnings

Fraser & Neave reports 21% y-o-y jump in Q1 profit

Petronas Gas’ Q4 profit up 33% y-o-y

Employment

Employees Provident Fund may declare higher dividend for last year

Financial services

Fund management remains fragmented

Regulation in Malaysia more stringent than in some developed countries

Islamic finance

TNB Western Energy closes financing for 1,000MW coal-fired power project

Media

The Edge Communications’ application for FZ Daily permit is rejected

Mergers and acquisitions

Gamuda fails in bid to take majority control of Kesas Holdings

Oil and gas

Coastal Contracts unit wins RM1 billion charter contract

Property

Eco World Development launching EcoSpring and EcoSummer in May

Have prices fallen — and yields risen — sufficiently to make REITs more attractive?

Tax

Taxpayers opting for ‘final tax’ plan must start updating employers on tax relief

ASIA

Autos

Tata Motors’ Q3 profit beats analyst estimates

Gaming

Genting Singapore, Landing International advance on Jeju casino resort plans

AUSTRALIA

Autos

Toyota pulling out in 2017

Toyota's exit will hit Australian economy harder

Banks

ANZ’s Q1 cash profit climbs 13%

Employment

Manager dismissed for grossly offensive Facebook post

CANADA

Legal services

DLA Piper’s plans to enter Canada on hold

Former PM joins Dentons Canada as counsel

Litigation

Scope of liability for tort of interference with economic relations by unlawful means

EUROPE

Antitrust

Decision on Samsung Electronics and Motorola Mobility in April

Intellectual property

Sale of counterfeit Rolex watch by Chinese seller to Danish resident infringed EU trademark laws

SINGAPORE

Airlines

Singapore Airlines weighs order for 40 Boeing 777X aircraft

Arbitration

Court’s power to order joinder

UK

Intellectual property

Investment function of trademark infringed in keyword advertising case

Islamic finance

Britain extends ‘Help to Buy’ mortgage scheme to Shariah-compliant loans

US

Airlines

Barclays, Deutsche Bank to lead Virgin America IPO

Capital markets

30 Chinese companies may go public in US this year

Insurance

CNA Financial sheds life and group insurance assets

Philanthropy

Facebook CEO and wife youngest and most generous donors

Monday
Feb102014

10 February 2014, Monday

Airlines

Malaysia Airlines profitable by end-2014

Competition

MyCC wrapping up case on ice manufacturers by end of this month

Construction

‘Implement Construction Industry Payment and Adjudication Act 2012 as soon as possible’

Energy

Sustainable Energy Development Authority’s RE fund gets RM325 million boost

Government

Sarawak CM stepping down end-February; three candidates short-listed to replace him

Successor announced tomorrow

Healthcare

Ministry drafting new blueprint

Insurance

Revised motor insurance premiums won’t have significant impact on insurers’ bottom lines

Islamic finance

Export Import Bank’s USD Sukuk rated ‘A-(EXP)’

Industry yet to make its mark in trade financing

Malaysia has right landscape and regulatory framework to spur development of talent

Heritage has shaped Islamic finance under Shariah

Property

YTL on lookout for more assets in UK

Fiamma hopes to launch second project in KL early next year

Master developer of Melaka Gateway secures five international investors

Gadang looking to double contributions from property division to group’s topline

UEM Sunrise partnering with Kuala Lumpur Kepong on Johor projects

Tobacco

JT International warns of tough year ahead

ASIA

Airlines

Concerns rising about SE Asia’s ability to absorb record numbers of planes on order

Gaming

Genting Singapore, Landing International to build casino resort on South Korea’s Jeju island

Intellectual property

US Chamber of Commerce requests India be classified a Priority Foreign Country

AUSTRALIA

Banks

Westpac expanding in Asia

Negligence

Landmark court case tests GMO farmer’s duty of care to neighbour growing organic crops

Technology

FEI acquires ANU-University of NSW start-up for US$76 million

CANADA

Competition

Cheaper e-books following Competition Bureau deal with Hachette, HarperCollins, Macmillan and Simon & Schuster

Legal services

Heenan Blaikie’s demise a much-needed wake-up call for Canadian law firms

SINGAPORE

Capital markets

Singapore releases wide-ranging proposals to strengthen local securities market

Insurance

Great Eastern reports 26% drop in Q4 profit

UK

Banks

Barclays under scrutiny, faces hefty fine after theft of 2,000 customer files

Intellectual property

20th Century Fox's ‘Glee’ infringes Comic Enterprises’ registered trademark

TV show diluting and tarnishing Glee Club brand

US

Biotechnology

Fastest start to a year for US biotech IPOs stokes fears of overheating

Media

Final offers for Forbes Media due today; Fosun, Spice Global and Axel Springer potential bidders

Real estate

Gangster Al Capone’s 10,000 sq ft waterfront mansion on the market