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Daily News

 

Tuesday
Feb242015

24 February 2015, Tuesday

Airlines

Union members of troubled Malaysian Airline System preparing mass protest

TV documentary claims MH370 deliberately flown off course towards Antarctica

Search coordinator confident wreckage of MH370 found by May

Arbitration

Lippo’s First Media cannot resist enforcement of awards granted earlier to Astro and its units

Earnings

MRCB swings to net loss

Nestlé Malaysia’s Q4 profit down 2%

Pharmaniaga’s Q4 profit jumps 76%

Financial markets

Danajamin Nasional plans partial guarantees

Food and beverage

Swiftlet Eco Park targeting to raise US$30 million via IPO and New York listing in Q3

Insurance

Opportunities will only come to those with an understanding of fast-growing local market

Legislation

Anti-Trafficking in Persons and Anti-Smuggling of Migrants Act 2007 to be amended

Mergers and acquisitions

Integrax shareholder Perak Corporation holding out for higher buyout offer from Tenaga Nasional

Oil and gas

Tok Bali in Kelantan expected to attract up to RM1 billion in investments

UMW O&G’s Q4 profit surges

Retail

Ministry, management of Suria KLCC meeting today on relocation of BritishIndia

Water services

New fight brewing between Selangor, federal government over ownership of water assets

ASIA

Autos

Honda Motor CEO stepping down in June

Capital markets

HKBN’s IPO could be second-largest in Asia-Pacific so far

Insurance

Tokio Marine’s profit rises on US-led upturn in global economic growth

Islamic capital markets

Indonesia may introduce new Sukuk structures

AUSTRALIA

Healthcare

Healthscope on track to hit full-year targets for operating EBIT

Insurance

QBE’s annual profit falls short of estimates

CANADA

Competition

Competition Bureau approves GlaxoSmithKline-Novartis deal

Employment

Hard-ball tactics cost employer way more than a reasonable settlement proposal

Decision

EUROPE

Competition

Full investigation into General Electric’s €12 billion bid for Alstom’s power equipment business

European Commission examining Cargill’s plan to buy rival Archer Daniels Midland unit

Google investigated for possible violation of Russian anti-monopoly laws after Yandex complaint

Islamic finance

Russia’s first Shariah-compliant bank may open this year

Technology

Apple building green data centres in Ireland and Denmark

Facebook’s updated privacy policy still violates European law

SINGAPORE

Economy

Budget 2015 introduces further measures to strengthen savings and income in retirement

Highlights of Budget 2015 proposals

Real estate

Tax incentives for S-REITs extended by five years

Expiration of stamp duty concession seen to have limited impact

UK

Banks

Aldermore set to unveil plans for quick-fire stock market listing

Treasury cuts stake in Lloyds to below 24%

HSBC’s annual profit down 17%

Ignorance stemming from complexity is not convincing

Bank exercising right of forced sale not under duty to obtain best price reasonably obtainable

Biotechnology

Japan’s Sosei to buy privately owned Heptares

Insurance

Policyholder entitled to indemnity for costs of reinstatement of properties damaged by fire

Decision

Mergers and acquisitions

British American Tobacco may take full control of Brazil’s largest cigarette company

US

Antitrust

HSBC, Barclays among 10 major banks under probe for possible rigging of precious-metals markets

Mergers and acquisitions

Globe Specialty Metals merging with Spain’s Grupo FerroAtlántica; deal should close in Q4

Monday
Feb232015

23 February 2015, Monday

Airlines

No closer to finding out what really happened to MH370

Deputy director suffering in silence

Employees of beleaguered Malaysian Airline System to receive termination letters soon

Earnings

Highest payout from Armed Forces Fund Board since inception

Investment

1MDB may require cash injection from MoF

State investment company signals plans to wind down

1MDB profited from PetroSaudi JV

Islamic finance

Lenders rolling out alternative growth strategies for Islamic businesses

Manufacturing

Supermax announcing new product line in July

Oil and gas

Sarawak-based contractors assured of RM2 billion worth of Petronas contracts annually

New Petronas chief should encourage consolidation

Property

GST a challenge for developers

Fears of property glut in Iskandar Malaysia ‘overblown’

Market observers waiting for corporate exercise between Ecofirst and Meda

Jiankun banking on Klang Valley projects to return to profitability

Today’s Mall in Ulu Tiram, Johor put up for sale

Hua Yang sets its sights on Sabah

Property development could become tech-based Iris’ biggest earnings contributor by 2017

Further inroads in Kwasa Damansara project

Shipping

Westports identifying suitable M&A target in SE Asia

Telecommunications

U Mobile can now consider IPO, denies talks with REDtone

ASIA

Competition

India approves Kotak Mahindra Bank’s record US$2 billion purchase of ING Vysya

Islamic capital market

Indonesia seeks return to global Sukuk market in H1

AUSTRALIA

Earnings

Australia Post forecasts first full-year loss in 30 years

Caltex Australia beats guidance

Employment

Shipping company liable to pay damages for not following investigation procedure to the letter

Judgment

Property

Lend Lease delivers strong start to 2015

CANADA

Mergers and acquisitions

Valeant Pharmaceuticals to buy Salix for US$10 billion in cash

Oil and gas

Major LNG project put on hold by Petronas showing signs of a revival

EUROPE

Aviation

Investigators to begin 3D reconstruction of parts of MH17

Oil and gas

Italy’s Eni working on IPO of assets in power and gas division

Private equity

European firms focusing on specific industries to compete on home turf

Real estate

Ado Properties plans IPO in Germany

Economy

Finance minister will present Budget 2015 at 3.30pm

Trends in budget spending that may guide today’s measures

Social media

Setting up a Facebook page does not give a person any ‘ownership’ over site

UK

Banks

HSBC boss holds £5 million in Swiss account

Insurance

RSA chief likely to unveil more explicit, increased expense reduction target

Intellectual property

Developer takes adult entertainment company to court over ‘playboy.london’ website

Islamic capital market

UK Export Finance guarantees Sukuk issue for first time

Real estate

Axa unit pays £300 million for London site of halted Pinnacle skyscraper

US

Antitrust

AmEx violated laws

Consumers unlikely to see lower prices

Entertainment

Walt Disney World in Orlando first in industry to breach US$100 psychological barrier

Technology

High-profile suit promises rare unscripted peek at Silicon Valley

Dire shortage of qualified tech workers grows worse as women keep quitting

Wednesday
Feb182015

18 February 2015, Wednesday

Airlines

Malaysia Airlines may lease out two Airbus A380 superjumbos to Turkish Airlines

AirAsia records 7% growth in passenger traffic year-on-year for FY14

AirAsia X’s passenger volume for Q4 2014 up 12%

Expedia raises stake in AirAsia JV

Insurance

Revised motor insurance premium takes effect from Monday

MNRB’s weaker performance blamed on large claims from reinsurance, reTakaful units

Islamic capital market

IILM expands Sukuk size above US$2 billion mark for first time

Property

Goldis’ Q4 profit jumps fourfold

Mah Sing’s projects should sustain company for another decade

Property development segment drives Sunsuria’s Q3 profit

Retail

Luxury brand BritishIndia seeking injunction against Suria KLCC

Transport

Rollout of RM27 billion Penang Transport Master Plan from 2017

ASIA

Capital markets

China Development Bank plans to list leasing, brokerage subsidiaries in Hong Kong by end-2015

Monetary policy

Bank Indonesia cuts main interest rate for first time in three years

Oil and gas

China may merge CNPC and Sinopec, Cnooc with Sinochem

AUSTRALIA

Insurance

Insurance Australia Group’s H1 profit down 10% to A$579 million

Logistics

Toll Holdings receives takeover approach from parent of Japan’s post office

A$340 million windfall for former Toll boss

SINGAPORE

Commodities

Monetary Authority of Singapore reviews report alleging accounting irregularities at Noble Group

Logistics

Japan’s Kintetsu World Express pays higher-than-anticipated price for Singapore’s APL Logistics

UK

Autos

Super-luxury sedan maker Rolls-Royce developing ‘non-SUV’

Ferrari only major luxury automaker without an SUV in its lineup

Real estate

Billionaire brothers converting London office building near Buckingham Palace into mansion

Technology

RBS first British bank to introduce fingerprint tech

US

Capital markets

S&P 500 ends on another record high

Technology

Asian suppliers making six million units of Apple Watch models for Q1

Tuesday
Feb172015

17 February 2015, Tuesday

Administrative law

Indelible ink whistleblower’s application for judicial review struck out

Capital markets

Kuala Lumpur Kepong down 2% on lower Q1 profit

SMRT-Creador’s takeover offer for Masterskill Education ‘not reasonable’

Earnings

Alliance Financial’s Q3 profit falls short of market expectations

BAT Malaysia cautiously optimistic on prospects for 2015

Education

Malaysian Higher Education Blueprint 2015-25 expected by end-March

Financial services

Malaysia Building Society embarks on five-year diversification plan

Infrastructure

Proposed Kinrara-Damansara Expressway project canned for failing to meet three conditions

Developer consulting Putrajaya on next course of action

Selangor may be opening itself to lawsuits

Judiciary

Bench open to criticism, but won’t tolerate unfounded allegations

Court of Appeal judge who delivered landmark judgment on transgenders not among four elevated

Land law

Alienation of 650 acres in Lahad Datu to Felda held unconstitutional

Property

Property development could help Amalgamated Industrial Steel return to the black

Mah Sing’s Q4 profit up nearly 20%

Melati Ehsan confident of achieving 6% profit margin

Titijaya Land’s Q2 profit up 16%

Telecommunications

Malaysian Communications and Multimedia Commission to review telecom retail rates

ASIA

Capital markets

Indonesian cigarette maker HM Sampoerna divesting 5.7% stake by January 2016

Insurance

China’s Anbang buys controlling stake in South Korea’s Tong Yang

Dutch financial services company SNS Reaal sells insurance division to Anbang

AUSTRALIA

Banks

ANZ chairman has 18 months to come up with new CEO

ANZ's profit unchanged from last year

Macquarie’s corporate and asset finance business expected to report higher profit

Insurance

QBE’s smaller rival Steadfast now controls country’s largest group of underwriting firms

CANADA

Insurance

Fairfax acquiring Brit in C$2 billion deal

Legislation

7-0 SC ruling exempts lawyers from parts of anti-money laundering and anti-terrorist financing law

EUROPE

Consumer goods

Italian chocolate empire Ferrero could turn acquisitive to balance portfolio

Oil and gas

Norway’s millennials looking vulnerable

NEW ZEALAND

Employment

Truck driver wins case for unjustified dismissal

Insurance

Lloyd’s pays out NZ$4 billion for Canterbury earthquakes

Intellectual property

Trademarks FRONTLINE and FIPROLINE not likely to be confused with each other

Judgment

SINGAPORE

Economy

City-state expands an annualised 4.9% on quarter

Employment

GFI defeats former broker’s lawsuit over six-month non-compete clause

Real estate

Temasek and JTC combining four units

CapitaLand’s Q4 profit leaps on revaluation gains from investment properties

UK

Arbitration

London award set aside as clause provided for arbitration ‘to be held’ in Hong Kong

Banks

Aldermore could announce London Stock Exchange flotation plan by end-February

Insurance

Larger specialist (re)insurers potential emerging risk to Lloyd’s of London

Mergers and acquisitions

US tech companies examining takeover bids for mobile payments firm Monitise

Tax

Law firm Baker & McKenzie sued over failed ‘aggressive financial engineering’ advice

US

Autos

Hyundai Motor ramps up spending on commercial vehicles

Real estate

Mediterranean-style villa in Beverly Hills for sale at US$195 million

Monday
Feb162015

16 February 2015, Monday

Airlines

Cultural, regulatory tussles hampering AirAsia’s efforts to expand further in Japan, Vietnam

Banks

Sector seen as main driver for corporate earnings growth

Drop in bond prices could affect banks’ Q4 earnings

Former executive chairman of PwC Malaysia now senior adviser of AmBank

Magnate’s role in helping 1MDB resolve RM2 billion loan ‘just speculation’

Reputational blow suffered could prove tough to recover from

Expect more card terminals as country moves towards cashless society

Capital markets

MTD ACPI Engineering reprimanded

Energy

Better deal for Sarawak Cable’s first hydro power plant in Sumatra

Healthcare

Sunway Medical Centre warns of higher hospital charges from April

TMC Life Sciences looking to fast-track growth

Qualitas Medical in talks with potential buyers amid preparations for IPO

Cheaper medicines likely if ‘Doctors diagnose, pharmacists dispense’ system adopted

Insurance

GST seen as having neutral impact on industry

Islamic finance

Status quo no longer acceptable

Plantations

Malaysia extends duty-free policy on CPO exports

Property

Proposed housing guarantee scheme may not necessarily end issue of abandoned projects

IJM confident with right proposition and pricing, projects will sell

Trinity Group mulls listing on Main Market of Bursa Malaysia

iProperty expands market presence in Asia

Technology

IQ Group keen to venture into MidEast market

Pestech tendering for power projects in Philippines and Indonesia

Water services

Supply disruption in Petaling, Hulu Langat, Kuala Langat and Sepang

ASIA

Banks

China allays fears on plans for Asian Infrastructure Investment Bank

Oil and gas

Indonesia’s scrapping of gasoline subsidies opens up more opportunities for foreign players

Technology

Sony’s best growth opportunity may be in making better use of PlayStation network

AUSTRALIA

Competition

Attention on ‘drip pricing’ tactics

Insolvency

Covenant not to sue won’t prejudice right of guarantor to seek contribution

Judgment

Intellectual property

Recent cases widen field of trademarks that may be considered inherently adapted to distinguish

EUROPE

Autos

Driving the BMW 7 Series feels like putting on a structured charcoal suit

Confectionery

World’s wealthiest chocolatier and creator of Nutella dies at 89

SINGAPORE

Earnings

Raffles Medical’s FY14 revenue up nearly 10%

Property

Record Q4 profit for CityDev

Home sales may stall as growth slows

Tourism

Smaller, newer hotels slashing room rates, undergoing facelifts to attract guests

UK

Banks

HSBC offers ‘sincerest apologies’ for past practices at Swiss unit

Insurance

Industry slow to embrace new technology or mine ‘Big Data’

PE groups looking to sell stakes expected to drive activity

Professional services

Consolidation set to accelerate this week

Property

China Minsheng majority investor in project to develop new financial district in London

US

Legal profession

More law schools adding business-oriented offerings

Technology

Apple may be gearing up on self-driving electric car

Chip maker Freescale Semiconductor exploring sale

Google’s co-founders plan share sale over next two years