Search

If you wish to receive our publications and alerts,
please fill in this form.

Daily News

 

Thursday
Jan282016

28 January 2016, Thursday

Banks

Goldman Sachs banker who was key adviser to 1MDB relocates to Los Angeles

Capital markets

Statements recorded by Securities Commission Malaysia protected from disclosure

Federal Court judgment

Crowe Horwath and partners not entitled to protection under Whistleblower Protection Act 2010

Earnings

Caring Pharmacy’s Q2 profit down 8.4%

LPI Capital’s earnings for FY15 up 13.4%, foresees challenges ahead

Poh Kong confident will maintain same level of profits as FY15

Economy

Recalibrated Budget 2016 televised at noon

Two major thrusts

Food and beverage

BCS Contract & Supply Services opens first Sugarbun outlet at Kuching International Airport

Graft

Four-place decline in ranking reveals public’s lack of faith in Putrajaya’s war on graft

Transparency International: PM’s administration not serious about fighting corruption

MACC to submit A-G’s decision to operations review panel, another special panel to be appointed

Healthcare

Country’s spending could hit US$20 billion by 2020

Islamic finance

Agrobank’s experience highlights challenge for countries seeking to become Shariah funding hubs

Oil and gas

Johor Petroleum Development reviewing masterplan for Pengerang Integrated Petroleum Complex

Investors should focus on oil service providers

Property

KWAP pays RM140 million for development land on Persiaran Stonor, KL

Tropicana to tread cautiously, selective about launches

Takaful

Takaful Malaysia’s Q4 profit up on higher wakalah fee income

Trade

Motion on Trans-Pacific Partnership Agreement passed by Dewan Rakyat

Trade Unions Act 1959, Industrial Relations Act 1967 and Employment Act 1955 to be amended

Utilities

Woods Bagot designing Tenaga Nasional’s new corporate HQ

ASIA

Autos

Toyota still world’s biggest automaker, considering buyout offer for Daihatsu unit

Share swap good way to soak up some of Toyota’s huge store of treasury stock

Media

US-based streaming video service Netflix blocked on all Telkom platforms

Technology

China’s once booming smartphone market has become saturated

INCJ will go head-to-head with Foxconn in bidding for troubled Sharp

Samsung’s 4Q profit misses estimates; S7, S7 Edge phones on sale from March

AUSTRALIA

Banks

CBA, NAB, ANZ and Westpac under pressure to raise more equity amid potential rise in bad debts

Employment

Worker who drunkenly threw colleague into swimming pool at work party fairly dismissed

Legal services

Slater & Gordon misses self-imposed deadline to update investors on cashflows

Firm may close two UK offices

Mergers and acquisitions

Qube launches A$9 billion bid for Asciano, in competition with Brookfield’s similar offer

EUROPE

Asset management

Emerging market volatility takes its toll on Aberdeen

Mergers and acquisitions

Shell wins shareholder approval for £35 billion takeover of BG

GLOBAL

Graft

North Korea, Somalia most corrupt and worst performers on Corruption Perceptions Index 2015

Islamic finance

Spreading to non-traditional markets

SINGAPORE

Capital markets

Malaysian businessman’s application to travel denied

Commodities

Noble’s shareholders likely to approve sale of company’s stake in agricultural unit

Employment

Monitoring digital messages in the workplace

UK

Accountancy

Ernst & Young most prevalent accountant in current tax controversy

Banks

Defeat for Serious Fraud Office as jury clears five of six brokers accused of rigging Libor

Islamic finance

Challenge to London’s pre-eminence unlikely to come from Europe

US

Gaming

Las Vegas Sands’ Q4 sales and profit miss estimates

Intellectual property

Starbucks not liable for appropriating ‘core’ of mural artist’s works

Wednesday
Jan272016

27 January 2016, Wednesday

Aviation

Debris found in Thailand not from missing MH370

Capital markets

Building materials supplier Chin Hin looking to raise RM41 million

Ho Hup proposes fund-raising exercise to finance projects

Licence of former Affin Hwang IB remisier revoked

Construction

Mudajaya unit seeks adjudication to recover RM175 million from CMC Machipex

Economy

Investors keenly awaiting revised Budget 2016

Graft

PM cleared of wrongdoing over ‘personal contribution’ from Saudi Arabian royal family

Attorney general’s statement fails to address several questions

Infrastructure

Sime Darby, Employees Provident Fund and another to develop ambitious Malaysia Vision Valley

Media

Subscription-based Kinibiz closing down next Monday

Real estate

REITs unlikely to be spared impact of slowing economic growth

Selangor Dredging plans residential property development in Ulu Klang

Authorities urged to ensure Bukit Kiara forest is preserved

iProperty partners with Brickz.my to provide data on Sabah and Sarawak

KB in talks on 20-acre site in Pahang

Risk management

Lembaga Tabung Haji instructed to strengthen practices

Depositors assured of safety, pilgrims' fund not facing financial difficulty

Technology

ECS ICT enters wearable tech market

Trade

Lawmakers vote today on Malaysia’s inclusion under Trans-Pacific Partnership agreement

ASIA

Autos

Toyota, Suzuki not discussing potential partnership

Nikkei report

Ford pulling out of Japan and Indonesia

Earnings

LG revenues down on ‘sluggish’ TV demand, ‘softer’ smartphone sales

Insurance

Munich Re now owns nearly half of India’s Apollo Munich Health

AUSTRALIA

Management

ANZ announces changes aimed at improving focus on key businesses

Sport

Tennis bodies announce independent review

CANADA

Employment

Account manager’s employment governed by offer letter

Decision

Insurance

Sun Life inks C$530 million annuity deal

Sun Life has met multiple upgrade triggers

Real estate

Foreigners snapping up ski chalets, commercial properties

Tax

Canada Revenue Agency has general legal ‘duty of care’ to taxpayers

EUROPE

Insurance

Chief of Italy’s largest insurer leaving for Zurich

Departure of CEO to rival not a bullish sign

Legal services

King & Wood Mallesons in talks to raise capital from partners in Europe

SINGAPORE

Capital markets

LionGold adviser seeks leave to return to Malaysia

Former corporate kingpin caused collapse of Omega

Closure for penny stock saga could remain elusive a while longer

Investment

Temasek weighing options on how it can preserve value of investments in Keppel and Sembcorp

UK

Retail

Tesco investors claim they lost tens of millions because of accounting scandal

Tesco mistreated suppliers to boost profits

Tax

Committee to look into shrinking corporate tax base, HMRC’s role in tackling avoidance

US

Earnings

Strong USD weighs heavily on Johnson & Johnson’s Q4 results

Procter & Gamble’s core sales return to growth in Q2

Tax

Exodus of US companies will continue until lawmakers reform tax code

Technology

Apple’s period of exponential growth may be ending

Patent holder demands US$500 million from Apple over unauthorised use of IP

Google ends push to popularise pricey eyeglasses with consumers

Tuesday
Jan262016

26 January 2016, Tuesday

Airlines

AirAsiaX may restore flights to Tehran

Autos

Might not be all rosy for local car manufacturers once TPP opens up market access

Beverages

Guinness Anchor maintaining advertising and promotions budget

Capital markets

Deadline looms for CLIQ Energy, Sona to secure approval for qualifying acquisition

Companies

February deadline for submission of annual returns, annual report

Energy

Penang-based Tek Seng expects solar energy segment to drive earnings growth

Healthcare

IHH breaks ground for first hospital in Myanmar

Legislation

More stringent security laws passed last year necessary to combat terrorism

Media

Slow Net speed could work to Astro’s favour

Mining

Complications over bauxite adding to PM’s problems; government action too late for some

Property

New player YGS targets young families, professionals and upgraders for Twinz Residence

Six large-scale integrated developments to transform Labuan’s landscape

Telecommunications

Celcom Axiata upbeat on 2016 outlook

ASIA

Banks

Mitsubishi UFJ recruiting in push to join top ranks of banks in trade finance business

Capital markets

Global investors scrambling for the exits in Hong Kong

Lion Air could revive IPO plans in 2017 if Indonesia’s economy recovers

AUSTRALIA

Aviation

Authorities searching for missing MH370 lose sonar detector

Australia awaits results of any investigation into reported discovery of barnacle-encrusted debris

Property

Sydney second only to Hong Kong as most expensive place to try to buy a home

EUROPE

Antitrust

Schlumberger’s bid for Cameron International set to gain unconditional approval

Earnings

Siemens raises outlook, buying CD-adapco for US$970 million

SINGAPORE

Asset management

Keppel Corp to consolidate four asset management businesses under Keppel Capital

Mergers and acquisitions

Fraser and Neave interested in acquiring Peroni and Grolsch beer brands

Real estate

Agencies biding time by investing in staff training and technology

UK

Banks

Hong Kong may offer HSBC fewer tax advantages than many believe

Contract

‘Reasonableness’ standard applied since Belize ruling in 2009 no longer correct

Media

The Guardian slashing costs over next three years

Tax

Google, HMRC asked to explain ‘cosy deal’

US

Capital markets

January slowest month for IPOs since December 2008

Insurance

Top 15 brokerage Acrisure exploring sale

Mergers and acquisitions

Johnson Controls to acquire Ireland-based peer Tyco, moving HQ to Cork

Halliburton yet to reach agreement with regulators about ‘adequacy’ of proposed divestitures

Real estate

World’s economic woes damping sales in high-end market; real test after 7 February

Xinyuan distances itself from plethora of skyscrapers aimed at ultra wealthy

Friday
Jan222016

22 January 2016, Friday

Airlines

Rayani Air aiming to fly to Europe, take Muslim pilgrims to Saudi Arabia within 10 years

Autos

Malaysian Automotive Association forecasts less robust year for 2016

No benefit from Trans-Pacific Partnership pact

MAA seeks more details on revised open AP system

Banks

Bank Negara Malaysia reducing statutory reserve-requirement ratio to 3.5% from February

BNM statement

Capital markets

Another year of record profit for SLP Resources

Sentencing of ‘Repco Low’ adjourned to mid-February

Nexgram changes mind on Ire-Tex

Special auditor to address concerns relating to subsidiaries

Construction

Instacom up 2% after securing RM240 million contract from Coneff

Employment

Kian Joo ordered to pay RM9 million in relief to ousted ED

Logistics

Japan’s Yamato taking up 23% stake in GD Express

Management

Former Petronas president/CEO now chairman of NCB

Manufacturing

Evyap shifting production from Turkey to Malaysia by end-2016

Kim Teck Cheong sole distributor of SCGM’s Benxon range in Sabah, Sarawak and Brunei

Kim Teck Cheong eyes upgrade to Bursa Malaysia

Oil and gas

Companies banking on recalibrated Budget 2016 to restore shine

Bank Simpanan Nasional admits to lending restrictions on O&G staff

Property

EcoFirst’s Q2 profit jumps on reversal of over provision of tax penalties and interests

GuocoLand in the red

Hap Seng’s launches in Jalan Tun Razak and Balakong to proceed despite weaker property market

M101 forging ahead with plans to launch 10 projects by 2020

KL office market likely to remain subdued

Technology

Brunei boost for BookDoc

Tort

No timeline on PM’s decision to sue Wall Street Journal

Trade

Special sitting of Dewan Rakyat next week to debate Trans-Pacific Partnership Agreement

Transport

Prasarana testing six-car trains on new stretch of extended Ampang LRT line

ASIA

Antitrust

South Korea investigating German automaker Volkswagen

Real estate

Another banner year for commercial estate in Hong Kong and China

Technology

Foxconn makes ¥600 billion bid for troubled Japanese electronics maker Sharp

Can ‘old-school’ government intervention help Sharp’s LCD business survive?

AUSTRALIA

Banks

Barclays quitting Australia; 80 staff to lose jobs

Intellectual property

Importer of MidEast food products can register MAK FOODS despite McDonald’s opposition

SINGAPORE

Capital markets

Hong Kong-based Samsung Asset spots potential in Singapore Airlines, Jumbo

Real estate

CapitaLand Mall Trust announces 0.7% increase in distribution per unit

Office landlords’ misery could keep compounding

Frasers Hospitality Trust eyeing Melbourne

Trade

New Asian Business Law Institute aims to help simplify process of cross-border business

UK

Autos

Jaguar Land Rover overtakes Nissan as UK’s biggest carmaker

Banks

Ex-US Secretary of State advising HSBC on HQ

Insurance

Aviva buys Royal Bank of Canada’s general insurance arm for C$582 million

Media

Pearson cutting 10% of workforce, to undergo restructuring

Pulling off the restructuring will be difficult especially if US troubles persist

US

Banks

Trends that propelled profits upwards in 2015 appear to be reversing

Earnings

Card issuer AmEx’s forecast disappoints, cutting US$1 billion in costs by end-2017

Coffee chain Starbucks’ Q2 profit forecast misses estimates

CEO confident in Beijing’s policymaking

Oil and gas

Schlumberger’s Q4 results hurt by 40% drop in revenue, huge accounting charges

Technology

International Business Machines hoping to boost cloud offerings for businesses via UStream acquisition

Thursday
Jan212016

21 January 2016, Thursday

Administrative law

Putrajaya files appeal to overturn ruling that declared arrest and detention of activist were illegal

Three weeks for Penang’s Line Clear operator to vacate premises

Beverages

Fraser & Neave spending RM300 million for capex

Gaming

Berjaya clinches 18-year contract in Vietnam

Investment

Khazanah Nasional among investors in Hong Kong-based fintech start-up WeLab

Legislation

Amended Communications and Multimedia Act 1998 will clarify powers to block websites

Facebook user fined RM14k for insulting Johor and Pahang rulers

Oil and gas

Petronas considering retrenchments

Bank Simpanan Nasional ‘notice’ on suspension of loans to O&G workers is fake

Offshore support vessel segment most vulnerable within value chain

SPAC shareholders may cash out

Plantations

Felda Global Ventures-Rajawali talks on Eagle High should conclude by March

Property

Encorp Bukit Katil named master developer of integrated township in Melaka

Fututech looking to diversify into piling works, wants to expand footprint overseas

Komtar revitalisation project should be completed in H2

Savills optimistic about retail property market

Trade

Trade bodies back Trans-Pacific Partnership Agreement ahead of Parliament debate, anti-TPP rally

ASIA

Banks

Barclays’ Asian operations hit hard in latest round of job cuts

Oil and gas

Energy companies sending expatriates home

Technology

Apple plans own stores in India

AUSTRALIA

Employment

When can employers draw the line against tattoos in workplace?

Oil and gas

Woodside flags US$1 billion in write-downs

Retail

Major department stores, specialist homewares retailers likely to buy Laura Ashley

EUROPE

Aviation

IAG, easyJet, Ryanair, Air France-KLM and Lufthansa launch Airlines for Europe

Banks

Deutsche Bank expects €2 billion loss for Q4

Insurance

Zurich issues second profit warning in four months, could prompt it to cut dividend

NEW ZEALAND

Dispute resolution

Singaporean retiree’s case against NZ ministry over pension benefits sent for mediation

Intellectual property

Auction website Trade Me seeks to block NZME from using ‘shopme’, ‘driveme’ and ‘propertyme’

Trade

TPPA to be signed 4 February

SINGAPORE

Earnings

Singapore Exchange’s Q2 profit down 3% on lower securities revenue

Investment

Temasek sets up European Advisory Panel

Real estate

More than 100 agencies shut, 3,573 agents have left industry

UK

Accounting

Financial Reporting Council interested in KPMG’s work on HBOS prior to Lloyds rescue

Employment

Immigration officer who took, but did not immediately report, bribe was fairly dismissed

Intellectual property

Nestlé to appeal High Court decision KitKat bars not distinctive enough to be trademarked

London black cab not that unique

Oil and gas

Shell’s Q4 profit could be halved

10,000 jobs to go

Norwegian SWF in favour of Shell-BG merger

US

Accounting

KPMG yanks decade of opinions on regulator of complex derivatives markets

Banks

Bank of China’s money-laundering controls found to be deficient

Healthcare

Johnson & Johnson cutting 3,000 jobs after tough year for bellwether

Mergers and acquisitions

Goldman Sachs not yet concerned about impact of declining oil prices, China’s slowing economy

Technology

Big companies, start-ups paying top dollar for independent software developers