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Daily News

 

Wednesday
Aug262015

26 August 2015, Wednesday

Administrative law

Decision in October on residents’ challenge against approval of Lynas TOL

Banks

CIMB still top arranger for bonds and Sukuk

Construction

Industry robust despite weaker ringgit, but those who need to import equipment feeling the pinch

Earnings

Carlsberg’s Q2 profit dips

Environment

Little-publicised waste separation programme starting Tuesday beset with ambiguities

Islamic finance

More room for Sukuk yield curve to steepen

Bank Islam parent granted extension to submit Q2 results

Bank Rakyat, ranked second in Islamic banking, should be more aggressive in marketing

Manufacturing

Glovemaker Hartalega yet to benefit from ringgit slump

Oil and gas

Ongoing rout ‘perfect timing’ for CLIQ Energy to embark on acquisition

UMW Oil & Gas’s Q2 profit plunges 93%

Plantations

Kulim in the red

TSH Resources’ Q2 profit down on lower CPO price, FFB production

Property

IJM expecting slow year for property arm

Stay on state acquisition of Kim Teng Park, JB a minor victory for residents

Telecommunications

Telekom Malaysia’s Q2 profit down slightly on forex losses

No need for debt restructuring, only 12% of total borrowings unhedged

Tort

Federal Court to decide whether common law can be applied to Malaysia to protect sexual harassment victims

ASIA

Banks

Maybank looking to expand in Philippines

Bank Internasional Indonesia to operate as Bank Maybank Indonesia

Economy

Analysts predict continued deceleration — rather than a crash — for China’s economy

Insurance

Nippon, Mitsui in talks

AUSTRALIA

Capital markets

Medical imaging firm’s IPO potentially among Australia’s top five this year

Intellectual property

Big win for downloaders, huge setback for copyright owners

Judgment

SINGAPORE

Corporate governance

Big regulatory push needed for listed companies to improve standards at subsidiaries

Earnings

TCM retailer Eu Yan Sang remains cautious on business outlook

Property

Norwegian fund, CapitaLand and Keppel Land among bidders for Asia Square Tower 1

UK

Competition

Provisional approval for Poundland’s £55 million takeover of rival 99p Stores

Competition watchdog should reconsider the way it approaches deals

Insurance

September deadline for Zurich to come forward with offer for RSA

CEO of RSA could leave with more than £8.5 million if deal goes through

US

Data protection

Federal Trade Commission Act allows regulator to sue companies over data security failings

Mergers and acquisitions

Planned Exelon-Pepco merger dealt major blow

Tuesday
Aug252015

25 August 2015, Tuesday

Airlines

AirAsia X optimistic of regaining investor confidence

Malaysia Airlines staff want assets, cash from soon-to-be defunct union transferred to new entity

Capital markets

FBM KLCI poised to enter bear market

Constitutional law

JAWI denied leave to appeal ruling favouring Borders store manager

Earnings

Boustead’s Q2 profit down 92%

Dutch Lady’s Q2 profit doubles

MRCB’s Q2 profit halved

Pos Malaysia profit declines on higher opex

Economy

Strong Singapore dollar good for Johor

Energy

PUC Founder, PW Consolidated team up on biogas electricity plant

Food and beverage

Oversea Enterprise considers vegetarian food venture after 2017

Gaming

Genting Malaysia unit issues RM2.4 billion of medium-term notes

Healthcare

Medicines could cost 10% more in a month

Investment

Johor top destination for manufacturers

Legal profession

Bar Council EGM next month

Plantations

Asia Media shareholders approve foray into oil palm plantation

Felda Global Ventures’ Q2 profit plunges 70%

IOI declares second interim dividend for FY15 despite weaker earnings

Property

KL, Penang ‘severely unaffordable’

Eastern and Oriental profit up 23% on disposal of long-held land bank

E&O to list UK unit in London

I-Bhd’s Q2 profit, revenue down

Tax

Small firms struggling to understand GST

Traders don’t understand profit margin formula in Price Control and Anti-Profiteering Act 2011

Telecommunications

TIME dotCom satisfied with Q2 performance

Transport

New KTM Komuter rail service awaiting Land Public Transport Commission approval

ASIA

Economy

‘Black Monday’ triggers ferocious sell-off in international markets

Tax

Indonesia extends perks for select industries

AUSTRALIA

Competition

Lux Distributors fined A$370k for engaging in unconscionable conduct

Employment

Intimidated, bullied and sexually harassed employee awarded compensation

EUROPE

Finance

Switzerland working to speed up restitution of illicit funds

Mergers and acquisitions

Syngenta gets sweetened offer from Monsanto

SINGAPORE

Currencies

Forex traders asking if Malaysia will take out tried-and-tested capital controls playbook

Fraud

Court of Appeal lifts worldwide Mareva injunction against Swiss businessman

Real estate

Lum Chang, Tien Wah Press explore JV to develop PJ land zoned for industrial use

UK

Banks

HSBC unlikely to revive Midland Bank name

Lloyds closer to full privatisation

Insurance

Amlin not for sale

US

Capital markets

August on track to be the Dow’s worst month since February 2009

Alibaba below US$68 for first time

Insurance

Canada’s Sun Life in talks to buy Assurant’s employee-benefits unit

Real estate

Commercial-property brokerages losing lustre

Technology

Infidelity site Ashley Madison facing at least five lawsuits over theft and leak of private data

Potential for damage to really innocent people is enormous

Monday
Aug242015

24 August 2015, Monday

Airlines

New era for Malaysia Airlines

Banks

CIMB loses CEO to AmBank; second top-level exit in two months

Capital markets

Sime Darby mulls proposal to raise RM6 billion via rights issue

Ekuiti Nasional sells Burger King franchise to 99 Speedmart founder

Recent sell-offs opportunity for investors to capitalise on undervalued stocks

Construction

Gamuda founder a visionary who loves to take on new challenges

Earnings

Weak lira, strong US dollar pose double whammy for IHH

Malakoff’s Q2 profit down 27%

Energy

1MDB confident of sealing deal on power assets by Q4

Graft

Swiss authorities open criminal proceedings related to 1MDB

Central bank governor pulled into political storm

MACC investigation into SRC International, RM2.6 billion ‘donation’ ongoing

Health

Tougher measures proposed for new tobacco Bill; legal smoking age to be raised to 21

Youths aged 18 to 21 most susceptible to addictive effects of nicotine

Logistics

Freight Management on lookout for strategic investments and JVs

Plantations

Bumpy ride ahead for planters

Property

Tradewinds MD may build third core business

TSR Capital potentially biggest loser if redevelopment of Penang air force base scrapped altogether

JCorp finalising details on township, industrial park catering to Pengerang complex

Auditors told to expedite investigation into MARA’s Australian property purchases

Tax

Small businesses in tight spot while waiting for GST refunds

Tort

PM to decide next month whether to sue Wall Street Journal over report

ASIA

Autos

Toyota to buy millions of air-bag inflators from smaller parts maker Nippon Kayaku

Electronics

Canon’s strategy for 2016-20

Retail

Three separate teams shopping for Tesco’s South Korean business

AUSTRALIA

Competition

OmniBlend Australia slapped with A$17,500 fine for engaging in resale price maintenance

Property

Lend Lease profit and revenues down in past year despite booming property market

SINGAPORE

Gaming

Marina Bay Sands seeks to seize Canadian gambler’s property

Canadian judgment

Property

Frasers Centrepoint arm adding 16 new properties in China

UK

Accountancy

Partners at Deloitte to share profit pool of £593 million; first increase in three years

Insurance

RSA-Zurich deal in doubt; Allianz, AXA flagging caution on M&A activity

Tobacco

‘Brand migration’ increasingly important as cigarette consumption declines

US

Financial regulation

Caesars Entertainment settles charges over anti-money laundering lapses for US$20 million

Technology

More companies jumping into unicorn echelon

Telecommunications

BT’s US telecom rivals ‘hurting competition’

Friday
Aug212015

21 August 2015, Friday

Airlines

AirAsia’s Q2 profit down 34%

Malaysia Airlines to raise game plan

Arbitration

Contractor claims RM34 million from KUB Builders over works at klia2

Banks

AMMB projects loan growth of 4%-5%

Bank Negara Malaysia says no circular to forex dealers

Corporate

Genting directing more resources towards tapping Chinese market

Earnings

Boustead Plantations’ Q2 profit surges due to land disposal gain

Economy

No peg or capital controls for Malaysia

Education

Compulsory pass for SPM English postponed

Another example of arbitrary decision-making

Graft

Sacked 1MDB task force officer has PR revoked, now faces deportation

Singaporean to challenge termination and revocation of PR status

Oil and gas

Sarawak Shell’s 50% stake in MLNG Dua transferred to Petronas

No layoffs at Petronas

Delcom to become indirect subsidiary of Deleum in Q3

Dialog optimistic of healthy performance for FY16

Property

UOA’s Q2 profit down

SP Setia launching Penang residential project in Q4

1MDB RE, investors in talks on three more TRX parcels

WCT’s Q2 profit down on lower contribution from overseas projects, property development

YTL Q4 profit down 15.6%

Telecommunications

Celcom Axiata, XL Axiata need strong comeback in H2

Indonesian loan to be restructured into partial Sukuk

ASIA

Infrastructure

Promised investment in Indonesia not delivered

Insurance

FWD, Fosun among short-listed bidders for Ageas’ Hong Kong life insurance business

AUSTRALIA

Competition

Regulator now backs deepening of Qantas’ alliance with China Eastern

Employment

Employers should be mindful of language used when drafting HR policies

Insurance

Insurance Australia Group posts 41% drop in full-year net profit, slashes dividend

SINGAPORE

Asset management

Swiss-Asia expanding operations

Fund managers post 30% y-o-y increase in AUM in 2014

Real estate

GuocoLand unit sells mixed-used project to China Cinda

UK

Gaming

Rank’s full-year earnings beat expectations

Mergers and acquisitions

British American Tobacco sweetens offer for stake in Brazil’s largest cigarette maker

US

Legal profession

Legal education in the midst of an unprecedented slump

Technology

Hewlett-Packard disappoints

Continuing decline in revenue highlights yet again why split may be a good idea

Thursday
Aug202015

20 August 2015, Thursday

Airlines

AirAsia X’s Q2 losses widen

Banks

AmBank Group’s Q1 profit down

AMMB identifying next MD

Capital markets

Spring Energy Resources plans IPO

Prospectus

Earnings

Kuala Lumpur Kepong posts 15.5% increase in Q3 profit

Sugar producer MSM Malaysia’s Q2 profit marginally higher

Economy

UBS predicts even more pain ahead for Malaysia

GST putting pressure on domestic prices, import cost rising

Bane for Malaysia, boon for tourists

Oil and gas

Hibiscus Petroleum entity takes up 30% stake in North Sea licence

Property

Construction of Bukit Bintang City Centre project should start by Q1 2016

Compugates, Main Uptown teaming up on Dengkil mixed-development project

Penang-based JMR sees property ventures contributing half of topline in FY16

Defunct One Bangsar could be revived as low-density commercial development

Telecommunications

DiGi has a new chairman

Tort

Defamation suit against DAP acting national chairman dismissed

ASIA

Airlines

Cathay Pacific’s H1 profit up sixfold, but lags analysts’ estimates

Economy

Sri Lanka faces immense challenges in quest to compete with Asia’s economic powerhouses

Islamic finance

Dollar Sukuk returns turning into losses in Indonesia, Malaysia

Mergers and acquisitions

Fraser and Neave’s 55% stake in Myanmar Brewery sold to Kirin

Property

Keppel Land shifts business focus in Indonesia

AUSTRALIA

Aviation

Qantas returns to full-year profit; one of quickest turnarounds in Australian corporate history

Initial inspection of flaperon from MH370 is complete

Employment

Photography studio liable to pay for ex-employee’s medical costs

Telecommunications

ACCC clears TPG’s takeover of rival iiNet

EUROPE

Earnings

Danish brewer Carlsberg cuts annual profit forecast, disappoints on Russia

Financial regulation

Swiss regulator checking on banks’ possible links with Malaysia’s troubled 1MDB

SINGAPORE

Property

Aspial to list unit on SGX Catalist; Thakral forms Australian JV to build retirement villages

Technology

GrabTaxi raises US$350 million in latest fundraising; no plans to expand beyond SE Asia

Singapore site of Alibaba’s new data centre

UK

Earnings

Imperial Tobacco’s revenue for nine months to 30 June down 4%

Health

Study finds e-cigarettes can lower health risks of smoking by 95%

Property

Developers hoping transparent 25m ‘sky pool’ will make a high-level splash

US

Beverages

Biggest challenge to craft brewers getting bigger may be in retaining their identity

Mergers and acquisitions

Nomad Foods believes it can find good bargains in US