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Daily News

 

Friday
Nov142014

14 November 2014, Friday

Autos

Honda confirms Malaysian driver died after Takata airbag exploded

Air-bag crisis ensnaring world’s largest automakers is deepening

BMW Malaysia expects double-digit growth in sales

Courts

Putrajaya awaiting rulers’ consent on new Shariah courts

Energy

Sarawak Energy may invest another RM15 billion in next five years

Insurance

Khazanah Nasional among 20 potential bidders in Halkbank sale of pension and insurance arms

Plantations

Sime Darby would be content with 51% stake in New Britain Palm Oil

Property

Rising interest in transit-oriented developments

E-bidding of immovable property ‘five to 10 years’ away

I-Bhd’s improved earnings attributed to higher recognition from project completion and sales

Encorp claiming RM68.7 million from Lembah Pencala over wrongful termination of contract

Telecommunications

Maxis’ Q3 profit down 5%

ASIA

Gaming

Japan could become third-largest gambling destination after Macau and US if new legislation passed

Islamic finance

Indonesia adopts centralised model to supervise industry

Oil and gas

US retreat opens door for competitors looking to snap up unwanted O&G assets in Asia

AUSTRALIA

Insurance

Quantifying damages for loss of services

Telecommunications

SingTel-Optus dials up profits despite drop in mobile subscriber numbers

EUROPE

Aviation

Russian consultancy says military aircraft were in the air close to MH17

Mergers and acquisitions

Fosun must come up with fresh counterbid for Club Méditerranée by next month

GLOBAL

Economy

Brisbane summit meeting make-or-break moment for G-20

World should not count on US to‎ be sole driver of growth

Pharmaceuticals

Drugmakers focusing on what they do best, and exiting areas in which they are weak

SINGAPORE

Real estate

CapitaLand looking to pump cash from assets into new projects

Telecommunications

SingTel’s Q2 profit up 19% on higher contributions from regional associates

UK

Insurance

London’s position as leading insurance centre being undermined

Real estate

New Covent Garden Market to be revamped in 10-year, £2 billion project

Tax

British American Tobacco fined £650k for oversupplying products to Belgium

US

Bankruptcy

OW Bunker’s US divisions seek creditor protection

Family law

‘Shortchanged’ ex-wife of oil baron to appeal US$1 billion divorce award

Mergers and acquisitions

Berkshire Hathaway buys Duracell battery business in stock swap

Deal helps P&G boss streamline company, Buffett to avoid big tax bill

Halliburton, Baker Hughes in talks; any potential deal could run into antitrust concerns

Technology

Enterprise software rivals SAP, Oracle settle bitter battle

Alibaba sounding out investors next week on first bond

Thursday
Nov132014

13 November 2014, Thursday

Administrative law

Hearing of former activist’s application for judicial review next Tuesday

Airlines

Malaysia Airlines sacks senior steward; 60 days to appeal

Capital markets

Investors, shareholders in Protasco not buying into ongoing legal tussle between directors

Dispute resolution

MMC’s Algerian unit faces legal action

Education

Putrajaya, examinations syndicate must file defence against dyslexic teen’s suit by January

Experts split in opinion on one-stream school system

Financial management

Top officials struggle to provide answers on discrepancies highlighted in Auditor-General’s Report

Auditor-General sees ‘no reason’ to audit 1MDB

Malaysians should not forget past financial scandals

PM under renewed pressure

Oil and gas

Malaysian Refining to be wholly owned by Petronas; deal finalised by end-December

Yinson Energy awarded three licences by Petronas

Property

Sunway soars after report by Insider Asia

Insider Asia report

Analysts positive about Sunway’s latest corporate exercise

Prices of residential property likely 3%-4% higher after GST next April

Ivory Properties’ City Residence in Tanjung Tokong nearly sold out

Seacera diversifying into property development, construction

Positive outlook in Johor despite concerns of oversupply

Takaful

Contributions projected to increase to US$3 billion this year

Tort

Former Selangor MB withdraws RM10 million suit against assemblyman

ASIA

Autos

Honda CEO told to focus more on quality issues

Toyota Motor to recall 361,800 vehicles

Technology

Xiaomi buys into Chinese video streaming firm Youku Tudou

AUSTRALIA

Employment

Forklift driver sacked for telling co-worker to ‘bugger off’ wins unfair dismissal case

Healthcare

Ramsay Health Care months away from making first play in China

EUROPE

Aviation

Investigation into downing of MH17 extended till August 2015

Competition

New chief needs time to investigate antitrust concerns posed by Google’s control over data

GLOBAL

Banks

HSBC, RBS, JPMorgan Chase, Citigroup, UBS and BoA fined a combined US$4 billion

Regulators angered because currency scandal came to light soon after LIBOR affair

Islamic finance

Slowdown in Sukuk sales threatens to derail issuance in a year expected to exceed 2012’s record

Oil and gas

Demand for OPEC oil may drop to 29.2 million bpd next year

SINGAPORE

Bankruptcy

Financial fallout from OW Bunker fraud case may yet unsettle bunkering industry

Legal profession

Outcome of surgeon’s husband’s case could have far-reaching effects

Mergers and acquisitions

KKR, CITIC launch takeover offer for United Envirotech

Property

‘Fire sales’ possible as government curbs hurt home sales and prices

CityDev’s Q3 earnings up 4.7%

UK

Banks

Barclays not eligible for 30% discount on fines after surprise move

Media

British Sky Broadcasting completes acquisition of Sky Deutschland

BSkyB scrapping ‘British’ and ‘Broadcasting’ from branding

US

Banks

Morgan Stanley reaches tentative settlement with Singapore investors

Real estate

Fund managers, analysts worry best days for publicly traded REITs now behind them

Technology

Unhappy Yahoo shareholders approach AOL boss about merger

Wednesday
Nov122014

12 November 2014, Wednesday

Aviation

AirAsia and long-haul arm prepare to move HQ to klia2

No fixed date on status of MH370

Capital markets

Malaysian AE Models (in liquidation), directors reprimanded; MD fined RM100k

Construction

Construction Industry Development Board committee looking into Qlassic system

Earnings

Inari Amertron should achieve RM1 billion revenue target by FY16

Finance

Federal government will step in to meet RM10 billion obligations of 1MDB

Fundamental liberties

State Islamic laws cannot violate fundamental freedoms protected in Federal Constitution

Islamic finance

CIMB Islamic, INCEIF to establish research centre

Media

Astro launches 10 new channels; HD fee revised to RM25 from December

Plantations

Asian Plantations delisted from London Stock Exchange’s AIM

Felcra exploring opportunities for corn planting in Aceh

Property

‘No’ to 1MDB building luxury properties in Air Itam

Iconic Royal Bank of Scotland building in Penang up for sale via tender from Monday

Sport

Badminton world No 1 suspended

Water services

Air Selangor new owner of Puncak Niaga and Syabas

ASIA

Banks

Indonesia approves J Trust as new owner of Bank Mutiara

Technology

Chinese e-commerce market already bigger than US’, but country struggles with delivery

Becoming China’s richest man provides own set of headaches

AUSTRALIA

Aviation

Joint Agency Coordination Centre continues to lead search for MH370

Banks

National Australia Bank pursuing settlement in class action over bank fees

Intellectual property

Computer implemented method of creating investment index not patentable

EUROPE

Autos

Luxury carmaker Ferrari's IPO between Q2 and Q3 2015

Mercedes reversing 2011 decision to end production of Maybach

VW’s bid to increase stake in lucrative JV stalls

Aviation

Dutch team at MH17 crash site, hoping to recover debris

Frustrated relatives say authorities haven’t helped trace loved ones

Bankruptcy

Danish police preparing separate probe of ship fuel provider OW Bunker

Mergers and acquisitions

Italian tycoon announces another sweetened offer for resort company Club Méditerranée

GLOBAL

Banks

US, UK and Switzerland preparing first penalties over forex manipulation against six banks

Islamic finance

AAOIFI issues two new Shariah standards, revises three others

SINGAPORE

Bankruptcy

Singapore seeking to limit fallout from OW Bunker’s bankruptcy

Hin Leong wants S$1.7 million

Commodities

Olam in talks to buy or sell assets after SGX query

Earnings

Luxury resort operator Banyan Tree’s Q3 loss widens to S$3.7 million

Arts centre The Esplanade incurs operating deficit for first time in 12-year history

Palm-oil trader Wilmar reports highest Q3 profit in five years

Gaming

Genting Singapore’s Q3 profit hit by lower gaming revenue from VIP players

Marina Bay Sands parent accuses rival of resorting to desperate means to win market share

UK

Banks

StanChart cutting as many as 100 retail branches

Insurance

Rock group Rolling Stones locked in battle with insurer over claim for cancelled tour dates

Real estate

Land Securities benefiting from decision on London office buildings

Royal Mail’s former south London mail centre could fetch £662 million

US

Family law

Oil magnate to pay nearly US$1 billion in divorce judgment

Technology

Google latest company to look upwards for next big project

Microsoft rolls out Lumia smartphone without Nokia name

Yahoo! buys video-advertising service BrightRoll for US$640 million

Tuesday
Nov112014

11 November 2014, Tuesday

Aviation

Malaysia Airports funding purchase of Turkey’s Sabiha Gökçen via rights issue

Banks

Bank Negara Malaysia, People’s Bank of China working on yuan clearing

Proposed CIMB-RHBCap-MBSB merger will likely start in Q1 2015

Education

Creador and SMRT may make buyout offer for Masterskill Education

Financial management

Finance, defence and education ministries to be hauled up before Public Accounts Committee

Half of participants in 1Azam scheme unable to add even RM300 to income

Human rights

High Court awards woman RM300k for breach of constitutional right to gender equality

Infrastructure

China willing to ‘actively participate’ in KL-Singapore HSR link

Investment

Support for dollar-denominated bonds issued by 1MDB questioned after official’s statement on debt

Islamic finance

Exim Bank to tap global Sukuk market a second time

New Investment Account Platform aims to broaden traditional role of Islamic banks

Summary of commonly used terms and concepts

Legal system

Kindergarten teacher’s case and others highlight perils of a divided legal system

Media

Digital News Asia secures RM1 million in seed funding from IdeaRiverRun

Property

Fraser & Neave aiming to launch Fraser Square in PJ in next six months

Proposed rights issue most suitable for IOI Properties to raise funds

Tadmax Resources yet to complete RM317 million land sale to Ivory Merge

Takaful

Takaful Malaysia’s Q3 earnings up 5.3%

Tax

IRB Public Ruling No 7/2014: Unit Trust Funds Part II — Taxation of Unit Trusts

Telecommunications

Intense competition in 2015, but not as fierce in fixed-line and broadband sector

Tort

Former Selangor MB’s case against Malaysian Insider to be heard over three days next June

ASIA

Islamic finance

Maybank may offer Shariah-compliant products in Brunei

Real estate

Relaxation of FDI rules in India will help developers but also increase competition

AUSTRALIA

Employment

Australia about to test just how much employers can ask young workers to do without paying them

No legal definition of what constitutes an internship

Telecommunications

Telcos face adverse trends in ARPU and fixed-voice revenue

SINGAPORE

Earnings

Yeo Hiap Seng’s Q3 earnings down 86%

Pharmaceuticals

Temasek acquires 10% stake in privately-held Indian drugmaker

Telecommunications

SingTel’s rating could come under pressure; StarHub and M1 stable in 2015

UK

Employment

Ex-head of private equity at Tullett Prebon claims £1.5 million for harassment and unfair dismissal

Property

London’s Gherkin skyscraper sold to Brazilian banker

US

Banks

Wounded Iraq war veterans sue British banks under US Anti-Terrorism Act

Restaurants

Pizza Hut focusing on new flavour options as it mounts biggest-ever redo

Technology

iPhone maker embarks on most aggressive expansion yet onto corporate turf

Monday
Nov102014

10 November 2014, Monday

Arbitration

Malaysia lays out red carpet for arbitrators from India

Aviation

Newly set up Jentayu Danaraksa offers alternative solution to remaking of Malaysia Airlines

Foreign airlines interested in hiring MAS pilots

Missile launcher that shot down MH17 supplied by Russian military

Malaysia plans to join criminal probe of MH17 crash

Capital markets

Steady debut for Carimin Petroleum

ISEC Healthcare, Zico driven by more international flair of Singapore

Education

Principal, teachers, students and parents must come together to make any school great

Less than 5% of students using RM663 million 1BestariNet project

Human rights

Negri Sembilan government lodging appeal against landmark Court of Appeal judgment

Investment

Sarawak, Johor draw highest foreign investments

EPF's non-entitlement to vote could extend beyond proposed RHBCap-CIMB-MBSB merger

Islamic finance

Cagamas broadens scope of RM40 billion bond and Sukuk

Leisure

Malaysia could be home to 50 amusement and theme parks by 2020

Media

Earnings of media companies may come under pressure

Property

UDA Holdings’ Bukit Bintang City Centre poised to take centre stage

Dealing with developers who refuse to comply with tribunal’s award

Sport

Likely two-year ban a sad way for leading sportsman to end affiliation with badminton

Banned substance dexamethasone administered by specialist sports clinic

Tobacco

Philip Morris, JT International raising prices of cigarette brands from today

Transport

Prepaid card system for public buses in five state capitals from March 2015

ASIA

Capital markets

Long-awaited Shanghai-Hong Kong Stock Connect goes live next Monday

Fund providers ‘want to have a foot in China’

Islamic finance

Philippines turning to Islamic finance to rejuvenate Bangsamoro

AUSTRALIA

Media

Struggling Ten Network approached about possible takeover

Property

Stockland sees few opportunities for acquisitions after losing takeover battle for Australand

Tort

Sexually harassed and bullied Sydney woman awarded A$733k in damages

SINGAPORE

Financial markets

Alleged fraud at Dynamic Oil Trading potentially one of the biggest scandals since 2004

Gaming

Marina Bay Sands, Resorts World Sentosa battling for shrinking pool of high rollers

Tort

Blogger guilty of defaming Singapore PM

UK

Family law

Hedge fund manager’s divorce could change law for the super rich

Real estate

Canary Wharf confident it can persuade bankers and lawyers to call London’s East End home

Qatar Investment Authority, Brookfield may increase takeover offer

US

Earnings

Investors may be brushing off worries about corporate profits a little too soon

Mergers and acquisitions

Cosmetics company Estée Lauder joins rival L’Oréal in bulking up on niche brands