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Daily News

 

Friday
Apr222016

22 April 2016, Friday

Aviation

German chief's abrupt exit revives debate over wisdom of picking foreigner to lead Malaysia Airlines

Celcom Axiata CEO not taking over hot seat

‘Hard reset’ again unsuccessful

Search for missing MH370 will stop when it reaches 120,000 sq km

Construction

Poratha claiming RM7.45 million from Eversendai subsidiary

Earnings

Carlsberg Brewery expecting tough FY16

JCorp’s profit up RM1.7 billion for FY15

Energy

Malakoff eyeing expansion opportunities to meet targeted capacity by 2020

Healthcare

IHH to buy Bulgaria’s Tokuda Hospital

Insurance

AIA records double-digit growth in new business by value in Malaysia

Allianz veteran appointed CEO of life insurance arm

Investment

Grace period for US$50 million coupon payment due on 1MDB bond expiring

1MDB affair could become important test of how world deals with cross-border corruption

Islamic finance

Employees Provident Fund will open Islamic retirement plan in January 2017

Malaysia sells US$1.5 billion Sukuk amid ringgit rebound

Manufacturing

Prices of rubber gloves set to rise further

Media

High dividend indicates Media Prima’s resilient financial performance

Negligence

Selangor Specialist Hospital ordered to pay Tabung Haji officer RM67k

Oil and gas

Hibiscus Petroleum files claim in Singapore against Rex International

Shipbuilders facing huge losses as O&G service providers cancel orders for vessels

Property

Tycoon may be eyeing stake in Iskandar Waterfront

Telecommunications

Celcom Axiata refuses to be drawn into spiralling price war

Company allocating RM1 billion for expansion of 4G service areas

Maxis reports 26% increase in Q1 profit

ASIA

Aviation

BOC Aviation gets go-ahead for IPO

Insurance

India to get first life-insurance listing since opening up to private-sector investors

Media

Video streaming giant Netflix’s launch into 130 new markets worldwide has been bumpy

Technology

Sony assessing impact of earthquake on earnings

AUSTRALIA

Graft

Files belonging to corrupt Unaoil seized as part of ASIC investigation into leading executives

Oil and gas

Malaysia’s Bumi Armada claiming US$283 million in damages from Woodside Petroleum

EUROPE

Autos

Porsche heir’s increasing involvement at Volkswagen coincides with latter’s worst crisis

Shipping

CMA CGM’s takeover of Neptune Orient Lines likely to win conditional approval

Germany’s Hapag-Lloyd and rival United Arab Shipping in talks to merge

SINGAPORE

Capital markets

Central bank, CAD probing possible breaches of Securities and Futures Act

Data protection

Karaoke chain K Box fined S$50k

Gaming

Mogul may sell Marina Bay Sands’ retail assets next year

Property

Developers get creative in marketing projects

UK

Energy

Centrica to buy Denmark-based Neas Energy for £170 million

Technology

Daily Mail parent could partner others for Yahoo’s core Internet business

US

Entertainment

Innovative pop superstar Prince dies at 57

Real estate

Home sales in New York’s Hamptons down 20% to 45 deals

Technology

Dell unit raises less than hoped for in US’ first tech IPO

Google’s parent Alphabet misses revenue targets

Microsoft’s Q3 earnings fall short of estimates

Uber drivers classified as independent contractors

Tobacco

Philip Morris looking to improve profits and health via ‘reduced-risk products’

Thursday
Apr212016

21 April 2016, Thursday

Aviation

Onus on Malaysia to find successor to continue revival plan put in place

CEO’s departure major blow for carrier still coping with loss of MH370 and MH17

DCA formulating mechanism for proposed fee hike

Banks

Public Bank’s Q1 profit rises on higher net interest and Islamic banking income

Beverages

Guinness Anchor to cost more after June

Consumer goods

Nestlé positive on prospects in Malaysia as one of top five markets in Asia

Islamic capital market

Malaysia tapping global Islamic bond market just as ringgit has rebounded

Oil and gas

TAS Offshore suffers RM13 million loss

Property

Crest Builder’s Landasan Bayu, Malaysian Rubber Board to develop land in Jalan Ampang, KL

Eastern & Oriental UK’s planned listing on London Stock Exchange is off

UEM Sunrise’s proposed Sukuk will give it flexibility to raise funds

ASIA

Autos

Mitsubishi employees falsified data on emissions tests

Gaming

Downturn in Macau continues to hurt Sands China

AUSTRALIA

Capital markets

Gains just getting started

Environment

Only 7% of corals in Great Barrier Reef unbleached

EUROPE

Competition

Google charged with unfairly using Android to promote own services over those of rivals

Latest tussle may be biggest challenge yet to company’s mobile strategy

Consumer goods

Nestlé steps up efforts to remove additives from portfolio

Enterome Bioscience investment underscores food group’s ambitions for health science unit

Earnings

Huge surprise for Heineken

SINGAPORE

Capital market

Singapore Exchange’s Q3 profit up slightly amid tough competition

Gaming

Marina Bay Sands’ Q1 profit down

Technology

Lion City first SE Asian nation to receive Samsung Pay

Utilities

GIC acquires 20% stake in ITC for US$1 billion

UK

Media

Days of privacy injunction numbered

Using children in application ‘cannot be trump card’

Decision raises question about extent to which courts able to protect individual’s privacy rights in today’s world

Monarchy

Queen Elizabeth II, longest-reigning British monarch, turns 90

Enigma of persona essential to her success at symbolising and unifying nation

Royal Family seeks social media editor

Tax

Prudential closer to recouping £100 million HMRC tax refund

US

Earnings

Demand for Coca-Cola’s fizzy drinks declines in Europe

New 'one brand’ graphic will debut next month

Real estate

American Copper Buildings on Manhattan’s East Side ready in 2017

Technology

Chipmaker Qualcomm’s profit forecast below analysts’ estimates

Wednesday
Apr202016

20 April 2016, Wednesday

Airlines

Malaysia Airlines CEO’s sudden exit poses new challenge to turn around carrier

COO will be appointed as executive director to help facilitate smooth transition

Autos

Cycle & Carriage Bintang’s Q1 profit up 43% on higher sales from Mercedes-Benz

Capital markets

Oriented Media Group now trading as Accsoft Technology

Leather upholstery manufacturer Pecca makes impressive debut

Company plans to diversify into aircraft clients pending DCA approval

Graft

Recent revelations placing denials under growing strain

1MDB expects interest payment to be made

Effort to contain financial fallout unravelling

Chances are Treasury will make sure everyone is paid

Former PM seeks court order to freeze Najib’s assets

1MDB ‘not Sarawak’s problem’

Legal services

DAC Beachcroft applies for JV licence with Malaysian association firm

Manufacturing

Government urged to reconsider blanket ban on new foreign workers

‘Country does not need more foreign labour’

Oil and gas

Relocation of Houston-based McDermott complete by June

OGPC set to become DNeX subsidiary, looking to grow top line in FY16

MISC looking to acquire FPSO vessels or petroleum tankers

Real estate

Developers should slow down on launching high-end projects

Crest Builder launching RM1 billion Latitud8 in Q4

Former Edaran Otomobil Nasional CEO to head Hektar Asset Management

Mah Sing allowed to strike out claims against Grand Prestige

MP Corp filing appeal against summary judgment granted to Wisma MPL

Prasarana to develop seven projects in next four years

PropertyGuru claims to be top property portal in Malaysia and SE Asia

Takaful

Flat profit for Takaful Malaysia

ASIA

Mergers and acquisitions

Foreign deals by Chinese companies could exceed US$200 billion

Asahi will buy Peroni and Grolsch brands from AB InBev

Wealth management

Sector going through restructuring of its own

CANADA

Banks

Case could reallocate burden of preventing employee cheque fraud as between banks and employers

Competition

Google cleared of wrongdoing in search ad business

Timeline of Google competition cases

EUROPE

Autos

Volkswagen investigators’ probe into emissions cheating slowed by code words

Audi created defeat devices in 1999

Aviation

Families of MH17 victims mulling lawsuit

Competition

Google may be hit with anti-competitive charges concerning Android OS

Earnings

Yoghurt maker Danone on track to deliver higher sales and profits

Intellectual property

Adidas fails to stop rival Puma from selling shoes similar to its ‘Boost’ brand

SINGAPORE

Capital markets

Manulife reviving plans for IPO of US REIT; Canadian group aiming for May listing

Property

CapitaLand’s Q1 profit up 35%

One of republic’s longest-running sagas still unfolding

UK

Oil and gas

Norway’s Aker trims 11% of UK workforce

Property

Grosvenor expects ‘markedly lower’ revenue profit in 2016

US

Banks

Goldman Sachs’ Q1 revenues tumble

Earnings

Johnson & Johnson beats Wall Street’s expectations

Pharma, medical devices and consumer products stronger as one company

Real estate

Investcorp Bank stepping up property investments in US

Tax

DoJ investigates international tax avoidance schemes exposed by Panama Papers leak

Technology

Intel embarks on deepest cutbacks in a decade

Yahoo’s Q1 results good sign for plan to auction core business

CEO among biggest winners in sale

Tuesday
Apr192016

19 April 2016, Tuesday

Banks

Suspects nabbed in Bank Negara Malaysia crackdown on illegal money services businesses

Central bank’s statement

Affin’s loan growth for FY16 likely flat at 7%

Bank of Chengdu listing unlikely to enhance valuations of Hong Leong Financial

European banks retreating from Asia

Review is to assess whether fund transfer had violated CIMB’s anti-money laundering policy

Chairman makes right move

Capital markets

Feedback sought on draft Malaysian Code on Corporate Governance 2016

SKB Shutters expects more business from racking solutions, ASRS once Vietnam project kicks off

Earnings

Malaysia Marine and Heavy Engineering eyes RM640 million revenue from marine segment in FY16

Employment

Troubled Megasteel halves its workforce

Investment

IPIC demands 1MDB pay back US$1 billion owed

State investment company faces risk of sinking into default

Progress of debt restructuring efforts in doubt

Mergers and acquisitions

Can-One says no formal offer yet for F&B Nutrition

Property

Puncak Niaga diversifies into property development, signs HoA with TRIplc

Spring Gallery clinches Johor contract

UEM Sunrise revises sales target

ASIA

Insurance

Italy’s Generali pumps money into Thailand

Oil and gas

Chevron’s Myanmar gas block stakes put up for sale

AUSTRALIA

Employment

Other factors can lead to a finding of unfairness

Property

Ultra-rich Chinese being wooed for Elaine Gardens, ‘Australia’s most expensive house’

EUROPE

Antitrust

Competition Commissioner examining Google’s deals with phone makers and operators

Autos

Car industry hostage to region’s economic and political fortunes

GLOBAL

Mergers and acquisitions

9% of deals announced in past eight months have already fallen apart

Trade

Market for fake goods on the rise

SINGAPORE

Earnings

Keppel’s Q1 profit down 41%

Property

Top Global COO wants to enlarge hospitality management business

Logistics company sues former landlord over rental dispute

UK

Dispute resolution

Use of ‘predictive coding’ in disclosure process approved for first time

Judgment

Mergers and acquisitions

Worst quarter for deals since 2010; slowdown in dealmaking activity to continue until June

US

Banks

Morgan Stanley profits halved in Q1

Streamlining may have to get even more extreme

Property

Florida developer entices condo buyers with one-year membership to JetSmarter

Technology

Google’s massive book-scanning project clears final legal hurdle

IBM’s transformation still a work in progress

Monday
Apr182016

18 April 2016, Monday

Autos

Government’s duty to support Proton

Aviation

DCA fee hike unlikely to affect demand for travel and Malaysia Airports

Banks

CIMB chairman takes leave of absence pending review of bank’s processes

Capital markets

AHB exits PN17 status

Competition

Megasteel did not infringe s 10(1) Competition Act 2010

Earnings

New Amway MD faces tough task of improving profit and dividend yield

SAM Engineering & Equipment could soon rock past RM1 billion revenue goal

SKB Shutters expects to be back in the black for FY16

Economy

Malaysia still ‘vulnerable’ to reversal of capital flows though buffers

Healthcare

Higher healthcare spending in Malaysia, Singapore, Thailand and Indonesia

Sunway Medical Centre setting up teaching hospital; nuclear and cancer centre ready in July

Infrastructure

AlloyMtd embarking on projects in Philippines

Investment

Putrajaya was warned of risks from 1MDB as early as 2014

Stand-off set to present Malaysia, Abu Dhabi with challenges sure to rattle financial markets

Media

Astro CEO confident it still has room to grow ahead of company’s 20th anniversary

Mergers and acquisitions

KWAP finalising acquisition of 30% stake in Can-One’s F&B Nutrition

Oil and gas

Malaysia has what it takes to attract O&G majors to relocate here

Asset impairments by local O&G players insufficient

Australia’s Elk Petroleum eyeing Malaysia, Indonesia

Investors knocking on doors of Romstar founder

SapuraKencana Petroleum restructuring exercise in June

Pharmaceuticals

Pharmaniaga determined to see Indonesian operations break even this year

Property

Melati Ehsan plans mixed development project in Bandar Selayang

First phase of WCT’s The Waltz Residences to launch in Q2

MK Land going through ‘lull’, deferring launch of new project in Damansara Damai

UEM Sunrise MD/CEO takes leave of absence for personal reasons

Retail

Brahim’s to supply food to 7-Eleven outlets

Telecommunications

Axiata needs to transform itself to tap future growth

ASIA

Autos

Toyota halts production following Kyushu quakes

Capital markets

Chinese photo app maker Meitu targeting to raise US$700 million in Hong Kong IPO

AUSTRALIA

Airlines

Qantas, Jetstar cutting back on domestic flights

Real estate

McGrath cuts profit forecasts, bearing brunt of cooling property market especially in Sydney

Technology

Australia Post putting drone delivery through its paces

EUROPE

Retail

IKEA’s biggest overhaul in over 30 years could disrupt smooth running of furniture seller

Tax

UK, Germany, France, Italy and Spain to share more info on business owners in bid to crack down on tax evasion

Telecommunications

Hutchison’s bid for Telefonica’s UK mobile-phone business could be blocked

Competition problems now biggest threat for global M&A

SINGAPORE

Aviation

Airbus opens second academy to train pilots in Asia

Commodities

Olam, Mitsubishi in first tie-up to supply sustainable agricultural and food products to Japan

Oil and gas

Linc Energy enters into voluntary administration

Real estate

Developers looking to raise exposure in China

UK

Banks

HSBC will appoint new chairman first to help choose next CEO

Royal Bank of Scotland reduces global lending to O&G companies, doubles green energy loans

Litigation

Judge wrong to override exclusion clause in complex contract for hire of offshore drilling rig

US

Banks

Sumitomo Mitsui expanding in US as competitors pull back

Mergers and acquisitions

XIO acquires JD Power and Associates for US$1 billion from McGraw Hill Financial

Technology

Alphabet, Comcast and AT&T exit race for Yahoo

Apple-FBI tug-of-war shows no signs of easing