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Daily News

 

Wednesday
Jul162014

16 July 2014, Wednesday

Airlines

Malaysian Airline System’s minority shareholders want a say

AirAsia orders 50 Airbus Neo planes

Banks

National Union of Bank Employees, Abu Dhabi unhappy over mega-bank merger

CIMB/RHBCap/MBSB mega-merger plan fraught with risk

Public Bank to buy BIDV’s stake in their Vietnam-based JV

Capital markets

Harvest Court takes legal action against 34 parties

GPRO Technologies to trade as G Neptune from tomorrow

Food manufacturing

MSM Malaysia in expansion mode

Media

Bernama recalls correspondent said to have plagiarised reports by Indonesia’s Jakarta Globe

Oil and gas

Basic Energy and Petrosolve drilling fourth and fifth oil wells in Indonesia

Plantations

Analysts sceptical Felda Global Ventures can hit RM100 billion revenue target in 2020

Property

Cooling measures have not curbed rising prices

Lifestyle and entertainment hub TREC ready by end-2015

Technology

MOL Global files for US IPO

Founder's entrepreneurship journey began in mid-1990s

ACE Market-listed TFP Solutions eyeing growth in Asean

ASIA

Airlines

Lion Air in talks to buy out Qantas’ 49% stake in Jetstar Asia

Banks

BRICS nations launch long-awaited development bank

BRICS serious about changing the system

Real estate

Commercial property set to spike in H2

Lone Star Funds seeks buyers for Tokyo complex after talks with Singapore’s GIC stall

AUSTRALIA

Airlines

Qantas to remain Australian-owned

Real estate

Developers competing to turn 100-year-old government office buildings into accommodations

SINGAPORE

Banks

OCBC won’t increase offer for Hong Kong lender Wing Hang

Finance

Monetary Authority of Singapore looking to tighten anti-money laundering rules

Prominent public figures may come under closer financial scrutiny

UK

Banks

Lloyds nears settlement with regulators over alleged Libor rigging

Tobacco

British American Tobacco’s IDRs affirmed

Outlook on Imperial Tobacco revised to negative

US

Earnings

JPMorgan Chase’s Q2 profit down 8%

Mergers and acquisitions

Reynolds American to buy Lorillard for US$25 billion; largest deal ever orchestrated by a woman

Addition of Blu propels Imperial from laggard to leader

Federal Trade Commission likely to take hard look at Reynolds-Lorillard tie-up

Real estate

Prime waterfront site in Miami sells for record US$100 million an acre

Technology

Apple-IBM partnership to develop business apps

Apple phablet on hold

Monday
Jul142014

14 July 2014, Monday

Administrative law

High Court has no jurisdiction to hear former activist’s application for judicial review

Aviation

Weststar Aviation sees huge potential for helicopter charter services in Iraq

Still no flights out of Melaka International Airport despite RM240 million upgrade

Banks

Planned merger of CIMB, RHBCap and MBSB to take centre stage

Potential synergy in longer term, drag in short term

Constitutional law

Legal lines blurred in custody cases involving conversions by one parent

Islamic finance

Combined CIMB-RHB-MBSB still second after Maybank in terms of Islamic banking assets

SBEU, MTUC against proposed merger

Ibra’ plays an important role in structuring sale-based Islamic financing

Legislation

Johor Real Property and Housing Board Bill coming into force next year

Oil and gas

Sumatec Resources buys Borneo Energy in US$250 million cash and share deal

Lembaga Tabung, Felda and Pelaburan Mara now stakeholders in Reach Energy

Property

Low Yat patriarch has ‘first right of refusal’ for second casino licence

Tradewinds International chairman spearheading ‘One nu’ project in Johor

Land & General eyeing land in Vietnam

L&G close to realising goal of becoming mid- to large-tier property player

ASIA

Banks

Japanese megabanks once again expanding in China after temporary setback

Telecommunications

Indonesia’s Solusi Tunas Pratama interested in XL Axiata’s tower assets

AUSTRALIA

Intellectual property

Kebab shops and wholesalers infringed trademark of Halal Certification Authority

Additional damages as deterrent from further infringement

Grounds of judgment

Legal services

Slater & Gordon introduces share plan in Australia and UK

EUROPE

Intellectual property

Layout of Apple’s stores can be registered as a trademark

Ruling of particular significance for franchises in consumer goods and F&B sectors

Sport

Germany first European team to capture World Cup in Latin America

Magical Messi unable to unlock Germany

NEW ZEALAND

Contract

High Court voids NZ$1.5 million settlement agreement on public policy grounds

Employment

Company right to fire worker who refused to wear safety glasses, launched verbal tirades

SINGAPORE

Economy

GDP unexpectedly contracts in Q2

Financial markets

HNWIs turning to high-yield bonds

UK

Telecommunications

Regulator applied wrong test when ruling on whether BT entitled to vary charges

Tobacco

British American Tobacco seen as linchpin of Reynolds American-Lorillard deal

US

Banks

Foreign banks doing everything they can to toe Washington’s line

Citigroup to pay US$7 billion for misdeeds; penalty is twice what JPMorgan paid

Settlement raises stakes for Justice Department’s next largest target, Bank of America

Tobacco

Smoking-related lawsuits against Big Tobacco levelling off

Friday
Jul112014

11 July 2014, Friday

Autos

New 3.25% interest rate likely to affect car sales

Banks

Combination of CIMB, RHBCap and MBSB would overtake Maybank

Energy

Genting completes disposal of 51% stake in Fujian Pacific Electric to SDIC Power

Monetary policy

Malaysia first in SE Asia to raise its benchmark rate this year

Oil and gas

UBS, Maybank IB advising Hibiscus Petroleum on fundraising

Property

Residential property market thriving in Perak

Goods and services tax next April will make property industry more competitive

Government drafting new guideline on impact of GST

Retail

New thrust for Parkson

Additional revenue of RM200 million-RM300 million expected from recent brand acquisitions

Tax

Cases of evasion among businesses prosecuted as criminal offences instead of civil cases

Tort

TV3 allowed to reduce quantum of damages

ASIA

Competition

Private electricity suppliers fined for refusing to cooperate with Taipower

Insurance

India proposes higher ‘composite cap’ of 49% for investment-starved sector

AUSTRALIA

Capital markets

IPO window narrowing

Employment

Employee with serious mental health issues unfairly dismissed

Intellectual property

Unclear whether Aereo-like service could be rendered legal by making technical changes

Oil and gas

Roc Oil gets second takeover offer from undisclosed source

Roc’s biggest shareholder fails to block company’s planned merger with Horizon Oil

EUROPE

Antitrust

Drugmakers fined for keeping more affordable forms of popular heart treatment off the market

Sport

adidas set to dominate pitch in World Cup final

Germany’s young squad has earned accolades and even won fans in Brazil

By age 8, scouts are watching for kids good enough for club programmes

SINGAPORE

Banks

Acquisition of Wing Hang will give OCBC more access in Greater China region

Real estate

S-REIT rally may be on its last legs

UK

Capital markets

Qatar cuts stake in London Stock Exchange

Tax

Nando’s chicken chain uses complex offshore network to legally reduce UK corporation tax bill

US

Antitrust

AU Optronics’ appeal against US$500 million fine is rejected

Intellectual property

Startup Aereo believes it can survive by operating like a cable-TV provider

Real estate

Young professionals sacrificing living space for prime urban location and extras

Technology

IBM investing US$3 billion in chip R&D in hopes of game-changing breakthrough

Tobacco

Reynolds American, Lorillard finalising merger

Thursday
Jul102014

10 July 2014, Thursday

Administrative law

High Court decision this Monday on jurisdiction to hear activist’s application for judicial review

Autos

Sales of Mercedes-Benz vehicles up 24% in H1

Proton needs at least a year to turn around

Aviation

Sultan Azlan Shah Airport in Ipoh ready to accommodate larger aircraft

Banks

CIMB, RHBCap and MBSB seek regulatory approval for merger

Capital markets

Hwang Capital no longer a PN17 company

Governance

Putrajaya’s secretaries-general could soon assume greater accountability for misdeeds within ministry

Islamic finance

Upcoming forum will pave way for increasing cross-regional transactions

Management

YTL Communications director in running for top MDeC post

Media

Tycoon believed to be eyeing Berita Publishing, owner denies company up for sale

Telekom Malaysia’s HyppTV looking to beef up free-to-air station offerings

Puncak Semangat’s DTTB service not competition for HyppTV

Monetary policy

Ringgit climbs to eight-month high on speculation of rate hike

Strong economic growth, rising inflation raise odds central bank could hike rates

Alliance Financial Group will benefit the most from OPR hike

Kenanga IB says not the right time to raise interest rate

Oil and gas

UMW Oil & Gas subsidiary awarded US$51 million contract in Myanmar

Tax

Government can reduce dependency on direct taxation, simplify system by implementing GST

ASIA

Banks

BRIC nations launching development bank next week

Capital markets

Hong Kong regulator warns investment bankers on IPOs

AUSTRALIA

Financial services

KKR, Pacific Equity jointly bid for compliance company SAI Global

Property

Foreign Investment Review Board clears Frasers Centrepoint’s proposed acquisition of Australand

EUROPE

Aviation

Germany’s Lufthansa starting budget long-haul airline

Islamic finance

Luxembourg passes Sukuk Bill

SINGAPORE

Capital markets

Samudra Energy tapping investors for IPO

Family law

Postnuptial agreement can carry ‘significant weight’ in determining division of matrimonial property

UK

Employment

Employer entitled to deduct engineer’s pay for not working notice period

Financial markets

Financial Conduct Authority to conduct ‘exploratory’ review of competition

Insurance

Aviva CEO pledges to continue cost cuts

Real estate

Distinction between tenancies at will and periodic tenancies important to both landlords and tenants

US

Accounting

PwC can’t escape US$1 billion malpractice lawsuit over collapse of brokerage MF Global

Banks

US intensifying investigations of other foreign banks after BNP Paribas fine

Employment

Employee fired for dishonesty about Facebook posts, disruptive behaviour during investigation

Wednesday
Jul092014

9 July 2014, Wednesday

Autos

Sime Darby may list automotive arm in bid to unlock shareholder value

Capital markets

Stationery maker Pelikan plans to list some units and assets in Germany

China Stationery now a PN17 company

Felda plans US$300 million listing of life sciences unit on Nasdaq exchange by March

Land

Court of Appeal upholds Kuching HC decision

Legal profession

‘Explosive’ testimony to come in disciplinary proceedings against senior lawyer

Legal services

Zicolaw now has presence in all of ASEAN except Philippines and Brunei

Property

Oversupply of new luxury condos expected to create pressure on rentals, ‘price war’

KUB Malaysia compensated for closure of Hotel Singgahsana

Tax

1,748 companies tried to evade paying tax

Technology

Internet scammers preying on lonely, middle-aged American women

Tort

JC will hear application to recuse himself from hearing PM’s suit against Mkini

ASIA

Autos

Trademark dispute casts shadow over Tesla CEO’s ambition to expand in China

Retail

Analysts downplaying implications of Carrefour’s exit from India

AUSTRALIA

Capital markets

3P Learning’s A$282.7 million listing deemed too expensive

Gaming

Regulators sign off on restricted licence for Crown Resorts in Barangaroo

CANADA

Employment

Two manufacturers each fined C$90,000 over employee who was burn victim

Change in employer, solely by reason of a sale of assets, resulted in constructive dismissal

Mergers and acquisitions

Strong appetite for more deals, particularly in energy and infrastructure

NEW ZEALAND

Construction

No ‘watertight’ defence for award-winning architects in leaky building case

Employment

Telecom worker unjustifiably dismissed

Employment Court's decision

SINGAPORE

Investment

Temasek made S$24 billion of new investments last year

Legislation

Content owners can obtain blocking orders against infringing websites under amended Copyright Act

Telecommunications

MyRepublic raises more than S$30 million in funding from two investors

UK

Autos

Rolls-Royce have become must-haves for new global elite

Employment

Police officer dismissed after taking matters into own hands, not for blowing the whistle

Insolvency

UK courts making it easier for global companies to avoid insolvency

US

Earnings

Mining giant Alcoa’s Q2 results smash expectations

Oil and gas

Talisman Energy, Statoil not selling Eagle Ford JV after bids fall short

Real estate

Wealthy Chinese lead overseas buyers in scooping up US$92 billion of US real estate last year

Technology

Apple’s iWatch could dent profits of Swiss company behind Swatch