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Daily News

 

Thursday
May192016

19 May 2016, Thursday

Autos

Naza Kia riding on car buyers’ appetite for SUVs

Banks

CIMB chairman resumes duties

Construction

Kuala Lumpur Regional Centre for Arbitration aims to increase awareness of CIPAA

Earnings

IOI back in the black

MBM Resources’ Q1 profit down 48%

Pintaras Jaya profit plunges 75% on lower contribution from construction, manufacturing units

Economy

Case starting to build for easing in policy

Financial services

Oslo-based Telenor acquires Prabhu Money Transfer

Graft

US examining funds from former employee of 1MDB to ex-Goldman Sachs banker

Islamic finance

Employees Provident Fund calls for increased supply of ringgit Islamic bonds

Oil and gas

Dialog’s Q3 profit down on slower upstream activities, lower sales in specialist products and services

EA Technique foresees no challenges in FSO segment

Petronas’ Q1 profit down 60%, will continue with cost cutting

Tanjung Offshore pursuing more downstream projects

Property

SP Setia plans 11 more launches in H2

ASIA

Autos

Mitsubishi president stepping down; reforming its culture now falls to Nissan

Capital markets

Hotel Lotte’s planned share sale could be world’s biggest IPO since late 2015

AUSTRALIA

Employment

Text message inappropriate way to dismiss employee

Property

Political uncertainty weighing on A$6 trillion housing market; sellers sitting on sidelines

EUROPE

Jewellery

‘Oppenheimer Blue’ most expensive jewel ever sold at auction

Technology

Nokia phones making a comeback, but won’t be easy

SINGAPORE

Corporate governance

SingPost probed for possible breaches of Companies Act

Legal services

Pinsent Masons boosts Asia-based O&G capabilities

Real estate

Global Logistic’s earnings surge on higher revenue, fair value gains from investment properties

Mapletree Investments pays more than S$1 billion for 79-ha Green Park in Britain

CityDev steps up environmental efforts

UK

Banks

France’s BNP Paribas axes 233 investment-banking jobs in London

Employment

JPMorgan Chase, Citigroup sued for unfair dismissal, sexual discrimination

Five cases in which employees were dismissed for one-off mistakes at work

Retail

Burberry cutting jobs, reducing product range in attempt to save £100 million a year

British luxury brand certainly has some fat to cut

Technology

Banks told to detail steps taken to secure computers connected to SWIFT

US

Antitrust

Bank of America, Deutsche Bank and Nomura accused of conspiring to rig prices in bonds market

Mergers and acquisitions

Monsanto more vulnerable to possible offer from German competitor Bayer

Wednesday
May182016

18 May 2016, Wednesday

Autos

Matrade helping Proton expand

Banks

JPMorgan Chase MD quits after more than 20 years

Saudi Arabia’s National Commercial Bank to explore Malaysia, Indonesia and Egypt

Capital markets

Ex-finance minister Daim’s son now holds 31% stake in Reliance Pacific

Green light for Top Glove’s secondary listing in Singapore

Earnings

Amway’s Q1 profit halved

Boustead Plantations’ profit surges on gains from disposal of land

Carlsberg Brewery’s profit up 33%, likely to follow rival Heineken in raising prices

Jimah Energy stake buy main cause for Edra Global’s bigger loss

Malaysia Pacific narrows loss

Uchi Technologies confident will remain profitable

Infrastructure

Zelan tendering for RM4 billion worth of contracts as it winds down overseas operations

Investment

Khazanah Nasional completes planned network of overseas offices

Oil and gas

Icon Offshore tendering for new projects in Brunei

UMW Oil & Gas tendering for 22 contracts, may further shrink workforce

Property

Financing difficulties hindering progress on Tun Razak Exchange, Bandar Malaysia

‘Too early’ to conclude fraud in dealings between troubled 1MDB and Abu Dhabi’s IPIC

C H Williams Talhar & Wong and CBRE join forces

2.54-acre D’Qube Square in Sarawak should be ready by end-2018

Tax

Government studying ways to tax digital-based businesses

Tort

Those who make defamatory remarks related to 1MDB can be punished

ASIA

Aviation

LCCs, small plane manufacturers among winners from SE Asia’s open skies deal

Islamic finance

Indonesia gets Islamic Development Bank loan for four years

AUSTRALIA

Employment

Technician who told boss to ‘kiss my arse’ had resigned ‘in a moment of pique’

Intellectual property

Motorcycle club Hells Angels needs A$50k to fight hipster T-shirt website, RedBubble

Clothing giant Cotton On accused of ‘flagrantly’ knocking off US artist’s designs

EUROPE

Pharmaceuticals

Novartis splitting division into two

Real estate

Furniture retailer IKEA to sell 27 European retail parks

SINGAPORE

Aviation

Singapore Airlines set-up Budget Aviation to manage Scoot and Tiger Airways

Investment

Temasek building stakes in pharmaceutical companies Gilead Sciences, Illumina and Regeneron

Indonesia wants to emulate Temasek

Real estate

GuocoLand reportedly in talks to acquire 30% stake in Eco World International

HSR International Realtors fined S$74k, barred from undertaking collective sale work for a year

UK

Airlines

Qatar Airways raises stake in British Airways owner to 15%

Banks

Keys to mini Fort Knox pass to ICBC Standard Bank; first Chinese lender to own vault in London

Treasury ‘determined’ to resurrect delayed sale of Lloyds stake

Insurance

Aviva investing millions in digital accelerator Founders Factory

Oil and gas

BP’s head of exploration leaving after less than three years

Real estate

Land Securities, famed for ‘Walkie Talkie’ skyscraper, sells more than £1 billion of assets

London office rents seen to rise at slower rate

US

Autos

Porsche Cayenne’s cute little brother more than proves its mettle

Insurance

American International Group’s general counsel retiring

Activist investor in better position to pressure AIG to split into three

Legal services

Financial fortunes of big law firms on the upswing; strongest gain in revenue since 2008

Real estate

Silicon Valley seeing pullback by wealthiest homebuyers after four-year real estate boom

Tuesday
May172016

17 May 2016, Tuesday

Autos

Toyota building another factory, should come online as early as 2018

Aviation

Value Alliance unlikely to pose threat to AirAsia

New CEO for MASwings in July

Raya Airways, formerly Transmile Air Services, partnering with ground-handling firm

Putrajaya to be stricter on SOP for airlines post-Rayani Air

Banks

Days of high dividend payouts may be numbered

Head of ‘Sweden’s safest bank’ JAK discusses its interest-free model and Islamic finance

Biotechnology

BiotechCorp confident of achieving revised RM2 billion target

Capital markets

LKL International makes strong debut on ACE market

Firm will put more effort into growing business in Asean and Africa

PN17 company Nakamichi granted more time to submit regularisation plan

Johan Holdings reprimanded

Earnings

Cahya Mata Sarawak’s Q1 profit plunges 98%

Malaysia Smelting back in the black, provided tin prices and ringgit do not weaken

Loss-making Wong Engineering bullish about returning to the black, contemplating mergers

Healthcare

YSP Southeast Asia wants to strengthen presence abroad

Apex ready to chart another milestone

Management

Former CEO of Ekuinas appointed to DRB-Hicom board

Media

Suhakam developing code of ethics on human rights issues

Plantations

Felda Global Ventures putting M&A on hold

Kuala Lumpur Kepong’s Q2 profit down 24%

Property

EcoWorld achieves close to £850 million in sales from three London developments

Lower rental rate for Menara TH Platinum raises questions as to office oversupply

Oakwood Asia Pacific seeks partnerships with local property owners

Signature’s Q3 profit down by more than half, receives RM80 million in compensation

SkyWorld aspires to be one of country’s top 10 property developers by 2018

Shipping

Smaller shipping lines will benefit from ‘THE Alliance’

Westports CEO says ‘too early to tell’ how new alliance will affect industry

Tax

IRB Public Ruling No 3/2016: Tax Treatment on Interest Income Received by a Person Carrying on a Business

Technology

NetX, Rockville Technologies collaborating on e-payment solution

Tort

PM’s suit against Taiping MP settled

ASIA

Airlines

Union could be step towards mergers in Asia

Banks

Mitsubishi UFJ profit misses estimates

Islamic capital market

Brunei poised to play growing role in issuance of Sukuk in coming years

AUSTRALIA

Aviation

Chances of finding missing MH370 fading

Underwater hunt could be called off in July

Banks

ANZ trimming 200 back-office jobs in Melbourne

Health

Tribunal confirms rejecting Philip Morris’ bid to sue over plain packaging laws

SINGAPORE

Banks

BSI investigating staff and dealings related to embattled 1MDB

Capital markets

Canada’s Manulife taps Asian capital markets for first time

UK

Banks

HSBC moving 840 IT jobs out of Britain

Real estate

Value of British Land assets up 6.7% to £14.6 billion

Interest drops in Notting Hill and Hampstead but market rises elsewhere

US

Accountancy

More names added to class action gender discrimination lawsuit against KPMG

Mergers and acquisitions

Pfizer buying Anacor in US$5 billion deal

More important question for shareholders is whether CEO will break Pfizer up

Real estate

Appetite for mid-century modern homes still growing

Chinese nationals largest foreign buyers of US homes

Technology

Berkshire Hathaway bites into Apple

Monday
May162016

16 May 2016, Monday

Banks

Bank Negara Malaysia has not set deadline for 1MDB to repatriate US$1.83 billion

Capital markets

O&G stocks worth a second look, bargains in plantation stocks

Corporate governance

Central bank’s new measures could have an impact on CIMB boss

CG level intact

Earnings

Leader Steel expects better Q2

PN17 company CN Asia’s Q1 loss shrinks

Economy

Rising costs crimping business investment, government finances hurt by decline in crude prices

BNM statement

Education

Teachers share stories on the many roles they have to play

Entrepreneurs recall some memories with their teacher

Healthcare

Terengganu-based TDM eyeing further growth from segment

Judiciary

The Malaysian Judiciary Yearbook 2015 and The Truth Shall Prevail launched

Logistics

Pelikan International president/CEO returns to business after long absence

Oil and gas

New player OceanMight in expansion mode

Plantations

FGV’s third CEO begins task of turning it into leaner entity

Property

Sri Petaling should continue to enjoy growth

Tien Wah’s factory site in Petaling Jaya could be redeveloped into mixed-use commercial project

Setia Eco Templer’s 2-storey linked villas, bungalows snapped up

Tycoons joining forces to take on international property market

Hua Yang optimistic about FY17

Retail

Teng family continues to manage Jaya Grocer

Telecommunications

Celcom could regain top position in mobile space

ASIA

Airlines

LCCs forming Asian alliance

Autos

Luxury marque Bentley’s exterior designer joining Hyundai

Private equity

Global firms dining on Japan’s thriving restaurant scene

Technology

Apple’s latest investment Didi Chuxing targeting New York IPO next year

AUSTRALIA

Energy

Macquarie Capital advising on potential spin-off of Origin Energy’s gas production businesses

Intellectual property

McDonald’s successfully opposes budding restaurateur’s application to trademark ‘McKosher’

EUROPE

Autos

Norway’s sovereign wealth fund joining class-action against Volkswagen

VW back to growth despite diesel emissions scandal

Competition

Google faces record €3 billion fine

UK, Germany curbing resale price maintenance by businesses

SINGAPORE

Earnings

Eu Yan Sang’s Q3 profit hurt by currency fluctuations, challenging business environment

Consortium wants to take Eu Yan Sang private

Insurance

China’s Fosun among suitors bidding for ACR Capital

Logistics

HNA in exclusive talks with biggest shareholder of CWT

Oil and gas

Administrators recommend Linc Energy be liquidated

Wealth management

Asia’s private-banking industry shifting towards fee-based model

UK

Banks

Pension Protection Fund, KKR shortlisted to buy Green Investment Bank

Energy

Shell sets up New Energies to invest in renewable and low-carbon power

Real estate

Office building in London’s Canary Wharf for sale as part of Hines’ property portfolio disposal

US

Arbitration

Start-ups taking a leaf out of big corporations’ playbook

Energy

Goldman Sachs now seventh-largest gas marketer in North America

Technology

Berkshire Hathaway and Quicken Loans’ interest in Yahoo a boost for California company

Friday
May132016

13 May 2016, Friday

Airlines

Malaysia Airlines back in the black

National carrier embarking on growth again; cost control was out of sync

Autos

Mercedes-Benz invests RM7 million in country’s first City Service

Banks

RHBCap eyeing M&A opportunities with commercial banks in Indonesia

Construction

MyCREST mandatory for public projects worth RM50 million and above

YTL incorporates 67%-owned subsidiary in Indonesia

No guarantee any of Yeoh offspring or kin will inherit YTL empire

Courts

Relocation of Industrial Court to Wisma Perkeso ‘a bad idea’

Earnings

Edra Global Energy incurs loss of RM475 million for FY15

Vivocom’s Q1 profit exceeds analysts’ estimates

Graft

PM’s stepson allegedly used US$50 million from 1MDB on luxury properties in US

Healthcare

UEM Edgenta seeking to make up for projected decline in profit

Intellectual property

Complicated issues surrounding IP laws in relation to Trans Pacific Partnership Agreement

Investment

Employees Provident Fund plans to exit British American Tobacco

Two million EPF members could switch to Syariah-compliant fund in first year after inception

CEO explains thinking behind move

Legal profession

Former senior lawyer appeals against disciplinary board’s decision barring him from practice

Media

Media Prima profit down 8.7% on lower top line

Property

Mature yet quiet Damansara Jaya remains compelling for home buyers

SP Setia posts Q1 profit of RM123 million, should achieve RM4 billion sales target by December

Developers should offer more ‘digestible’ projects which allow people to buy

Telecommunications

edotco aims to build up to 2,000 towers across six countries; 200-300 structures in Malaysia

Tort

Ganad Media loses appeal; articles published in theSun were justified and fair comment

ASIA

Autos

Nissan throws US$2 billion lifeline to Mitsubishi Motors

How quickly Nissan and Mitsubishi collide remains to be seen

Capital markets

BOC Aviation seeking US$1 billion to fund expansion

Food processing

Nestlé India struggles to regain market share of once-popular Maggi noodles

AUSTRALIA

Consumer

Popular cooking appliance Thermomix responsible for 87 burns cases

Employment

7-Eleven defends decision to scrap independent wage panel to investigate underpayment of workers

Case suggests we cannot trust companies with clear economic interests to act on ethics alone

EUROPE

Autos

Audi seeking to gain ground on BMW, Mercedes-Benz

Insurance

Zurich Insurance’s Q1 profit beats expectations

Real estate

90-acre estate in Tuscan hills with vineyards and olive groves available for US$19 million

SINGAPORE

Airlines

Singapore Airlines facing increasing challenges to retain customers

Commodities

Olam’s Q1 profit up 213% on lower exceptional charges

Property

Banyan Tree’s Q1 profit dragged down in part by higher forex losses

UOL’s Q1 profit up 4%

Telecommunications

Singtel says premature to talk about NetLink Trust IPO

UK

Autos

Lotus marks 50th anniversary of Norfolk plant with special edition Evora 400

Insurance

Pension Insurance Corp completes £900 million pension buy-in deal for Aon

Property

New measure welcomed, but owners could still find ways to cheat register

US

Gaming

Genting suing Miami-Dade County, State Attorney

Mergers and acquisitions

2015 stripped of title as biggest year for dealmaking

Plenty of deals still getting done, pipeline looks full

Germany’s Bayer exploring bid for US seed company Monsanto

Bayer-Monsanto tie-up could intensify global scrutiny

Monsanto now in uncomfortable role of takeover target