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Daily News

 

Friday
Mar202015

20 March 2015, Friday

Aviation

No flotsam from missing MH370 fuels suspicions authorities looking in wrong place

AirAsia may sell 150 aircraft

Banks

Exposure to troubled 1MDB a manageable risk

Capital markets

HwangDBS IB remisier fined RM312k, struck off

Financial markets

Malaysia steps up regulation of financial advisers

Healthcare

Qualitas close to securing cornerstone investors

Islamic capital market

Prasarana Negara raises RM2 billion from Sukuk

Metals

GST won’t affect stored metals, says customs official; announcement next week

Oil and gas

MMHE-Sime Darby Engineering dispute over fabrication yards referred to arbitration

Dialog seeking shareholders’ approval to raise up to RM2.6 billion

Petronas to use US$5 billion raised in bond offering for corporate expenses, acquisitions

Property

Developers pessimistic on H1

Forest City project scaled back

Former CEO of SP Setia re-designated non-executive chairman of EcoWorld

Lend Lease-1MDB Real Estate JV undertaking Lifestyle Quarter at TRX

Paramount targeting double-digit growth annually over next five years

Transport

Rail tickets to cost more in May; new fares exempted from GST

Netizens vent displeasure

AUSTRALIA

Banks

Australia on the brink of joining Asian Infrastructure Investment Bank

Media

News Corp raises stake in APN News & Media to nearly 15%

CANADA

Competition

Two key traps businesses may easily fall into in profiling their products and services

Employment

Supreme Court clarifies common law test for constructive dismissal

EUROPE

Real estate

Fosun, Ping An vying to acquire 18 buildings on Berlin’s Potsdamer Platz square

Technology

Mobile games maker Rovio hopes 3D movie will ease profit woes and restore growth

SINGAPORE

Commodities

Noble on radar screens of Asian companies that want bigger clout in global commodities trading

Telecommunications

Singtel CEO terminates Gushcloud after online smear campaign

UK

Construction

Valuation of omitted works

Legal profession

Big Four accounting networks a serious threat to law firms’ cosy existence

US

Antitrust

FTC staff report could prompt new complaints from Google rivals

Earnings

Sportswear maker Nike’s quarterly profit beats market estimates

Nike seeks to dismiss copyright infringement suit over Michael Jordan image

Technology

Amazon.com gets Federal Aviation Administration nod to test delivery drone outdoors

TAG Heuer developing own smartwatch with Google and Intel

Thursday
Mar192015

19 March 2015, Thursday

Aviation

AirAsia plans to make Langkawi airport its next international hub

Banks

GST payable on MEPS, online banking and over-the-counter transactions

Capital markets

Trading in HLCap securities suspended from next Thursday

Earnings

BToto’s Q3 profit rises on higher profit contribution from UK luxury car distributor

Top Glove’s Q2 profit up 35%; rubber glove producer in expansion mode

Economy

Probability of rating cut has risen to over 50%

Investment

CIMB evaluating sale of 1MDB’s power assets as alternative to planned IPO

Metals

Unclear if GST applies to London Metal Exchange-registered metal

Customs agency hopes to reach agreement soon

Oil and gas

O&G companies among biggest losers in stock market

Plantations

Golden Land acquiring controlling stakes in Parimo Agri and Parigi Plantation

Property

Johor ruler defends controversial 30-year Forest City project

Investments will have spillover effect on other sectors

Crest Builder bags RM198 million UDA contract

Transport

Malaysians to cough up more for a taxi ride

ASIA

Airlines

Cathay Pacific profit lags analyst estimates

Travel

Cruise industry set for ‘record-breaking year’

AUSTRALIA

Insurance

Vehicle repairer could not exercise lien over vehicle

Mergers and acquisitions

Legal market can expect more mega-deals

CANADA

Employment

Termination of employee for lying about absence may be appropriate

Oil and gas

Talisman Energy cutting up to 15% of Calgary staff

EUROPE

Autos

BMW surprises investors with conservative view on profit growth

Mergers and acquisitions

Cement makers Holcim and Lafarge discussing new leadership, share exchange ratio

Real estate

Cheaper prime property luring US buyers

SINGAPORE

Capital markets

Taiwan-Singapore stock connect scheme likely by December rather than July

Financial services

Hedge fund sues former chief investment officer

Property

Japanese billionaire not only high-end owner to get fingers burnt lately

Telecommunications

MyRepublic could deploy fourth telco network by end-2016 or early 2017

ISP ups ante by offering free two-month trial of 1Gbps plan

UK

Intellectual property

Potential pitfalls where trademarks co-exist within same market

Technology

Britain to regulate digital currencies to stop their use as money laundering hubs

US

Autos

VW looking at getting back into US van market

Food and beverage

Empire State Building first to be offered Starbucks’ new delivery service

Wednesday
Mar182015

18 March 2015, Wednesday

Airlines

New flymojo taking off in Q3

Banks

Former Maybank executive is new chairman of Sumitomo Mitsui

Public Bank founder recognised for achievements

Capital markets

Addition of cornerstone investors could smoothen path for long-delayed Malakoff IPO

Constitutional law

Continued persecution of Borders store manager has far-reaching repercussions

Healthcare

IHH investors unperturbed despite blocked bid to acquire Singapore’s Radlink-Asia

Insurance

Better protection, more benefits from all-in-one PRUvalue med

Investment

US$3 billion bond highlights level of concern surrounding 1MDB’s massive debt

Islamic capital market

Malaysian and Petronas Sukuk will help add momentum to global sales

Oil and gas

SapuraKencana cutting workforce

Sumatec’s proposed acquisition of oilfields, other assets in Kazakhstan ‘fair and reasonable’

Single-largest shareholder continues to build stake ahead of EGM

Minority shareholders of Tanjung Offshore allege irregularities in Birmingham property deal

Private equity

Creador affiliate takes up 20% stake in Indonesia’s SME-focused Bank Index

Property

No GST on rentals of commercial units below RM500k, supply services for stratified houses

Picasso Residence envisioned as new masterpiece development on Jalan Ampang, KL

Retail

SStwo Mall in Section 19, PJ to undergo redevelopment, rebranding exercise

ASIA

Aviation

Indonesia ends hunt for victims of AirAsia QZ8501; 56 still unaccounted for

Gaming

Bloomberry Resorts looking to expand outside Philippines home base

Property

China’s Evergrande secures new credit lines from mainly state-run banks

AUSTRALIA

Employment

Employer breached contract by failing to follow complaints procedure in company policy

Entertainment

Village Roadshow working with Moelis to raise funds for movies

Property

Historic Emerald Hill Terrace in Melbourne could fetch A$30 million

EUROPE

Airlines

Ryanair launching transatlantic flights as part of ambitious five-year growth strategy

Antitrust

Decision on General Electric-Alstom deal in August

SINGAPORE

Capital markets

Monetary Authority of Singapore, police force will jointly probe market misconduct offences

Retail

‘Far too many’ malls, and too similar to one another

UK

Financial services

Ex-Rabobank trader first to be banned for manipulating Libor after US conviction

British units of foreign banks may have to submit to annual health exams for first time

Insurance

RSA may sell Latin America business

Intellectual property

Plain packaging does not constitute de facto expropriation of tobacco brands

US

Real estate

Insurer MetLife financing four properties in Dublin

Technology

Apple’s Web-based TV service could launch this fall

Facebook users can now send cash to one another for free

Microsoft retiring Internet Explorer brand with Windows 10

Tuesday
Mar172015

17 March 2015, Tuesday

Capital markets

Malakoff IPO will hit the market in May

Healthcare

IHH proposing to buy nursing homes in Japan via RM183 million injection into Godo Kaisha Samurai 10

No decision yet on ‘doctors diagnose, pharmacists dispense’ system

Media

Radio Televisyen Malaysia seeking exemption from Treasury directive on contract staff

Oil and gas

Dialog Group seeing demand for storage facility

Tanjung Offshore keen to put troubles aside, continue search for new core business

Petronas should return to Indonesian retail market

Property

Gabungan AQRS, Suria Capital to develop seven-acre plot in Sabah

Tambun Indah buying 16 parcels of freehold land in Penang

Sedition

Daughter of opposition leader detained over parliamentary speech

Takaful

AIA hopes to expand footprint through new Shariah products

Telecommunications

3% revenue growth seen for industry despite heightened competition, crowded landscape

Johor sultan now single-largest individual shareholder in REDtone

ASIA

Economy

Obstacles make Indonesia a tough sell for foreigners

Bank Indonesia likely to spare investors another shock this month

Real estate

Fosun said to be weighing bid for Cushman & Wakefield

AUSTRALIA

Banks

Reserve Bank of Australia leaves door wide open for another cut in interest rates

Capital markets

Prospectus for A$3 billion IPO of software firm MYOB by end-March

CANADA

Employment

Class-action lawsuit against Deloitte alleges lawyers misclassified as independent contractors

Insurance

Court of Appeal moderates scope of insurer’s duty to defend

Technology

Amazon joins Cisco Systems, BCE and Apple in migrating to Toronto’s SoCo district

New BlackBerry tablet available in Q3

EUROPE

Banks

France, Germany and Italy follow Britain’s lead on AIIB in major setback for Washington

Mergers and acquisitions

Proposed Holcim-Lafarge merger on the point of unravelling

SINGAPORE

Airlines

Singapore Airlines in talks to take stake in South Korea’s Jeju Air; size, pricing and timing undecided

Telecommunications

M1, StarHub dragged into controversy over conduct of social media agency Gushcloud

UK

Accountancy

Grant Thornton accused of negligence over auditing of Manchester Building Society accounts

Islamic finance

UK Export Finance keen to extend guarantees to other industries

Mergers and acquisitions

Haversham Holdings in advanced talks to buy British Car Auctions in deal worth over £1 billion

US

Consumer goods

Procter & Gamble exploring sale or IPO of some beauty brands in single deal

Legal profession

The skills required to be a great lawyer don’t necessarily correlate with business sense

Real estate

Blackstone to buy Chicago landmark Willis Tower

Monday
Mar162015

16 March 2015, Monday

Airlines

Khazanah Nasional under pressure to rethink plan to lay off part of MAS workforce

Autos

Proton expected to announce collaborations in Bangladesh, Saudi Arabia

Constitutional law

G25 ‘encouraged’ after meeting with sultans

JAWI appeals against decision to discharge Borders manager

Education

Sasbadi looking to complement revenue stream for FY15 with new products

Energy

Asian Development Bank reviewing loan to Sarawak Energy following NGO complaint

Food and beverage

Milo knock-offs found in Negeri Sembilan

Nestlé’s earnings growth weighed down by costs, increasing competition

Healthcare

IHH scraps proposal to buy Singapore’s Radlink-Asia

Islamic finance

Sultan of Perak welcomes closer collaboration between Malaysia and UK

Legal profession

Bar Council may lodge complaint against lawyer

Manufacturing

Rubber glove maker Supermax diversifying into contact lens business

Real estate

Order for damages to developer Gasing Meridian back before Federal Court once more

More luxury properties going under the gavel

Retail

WCT committed to expanding mall business

ASIA

Islamic finance

Indonesia plans new committee modelled on MIFC

Real estate

Philippine developers on a building spree

What can go wrong when investors rush headlong into China

AUSTRALIA

Banks

Reserve Bank of Australia working on possible replacement for scandal-tainted BBSW

Australia’s decision on China-backed AIIB ‘in next week or so’

Employment

Reinstatement not appropriate for former senior auditor sacked unfairly — twice

Financial services

KKR-Värde Partners-Deutsche Bank consortium buying GE’s Australia and NZL unit

EUROPE

Competition

Nod for British insurer Aviva’s proposed £5.6 billion purchase of rival Friends Life

Mergers and acquisitions

Representatives for Holcim, Lafarge meeting today

Chinese LED start-up interested in Philips’ lighting components business

SINGAPORE

Competition

Competition Commission of Singapore blocks proposed RadLink-Asia deal

CCS statement

Investment

BSI Singapore keeping 1MDB’s money

Legal services

Stamford Law and Morgan, Lewis & Bockius join forces

Property

Much cheaper now for Singaporeans to invest in Malaysia, Australia and Britain

UK

Autos

Aston Martin finalising sale of new shares to investors

Retail

High streets fading away because new shops not opening fast enough to replace those that close

US

Antitrust

FTC assessing Imperial Tobacco’s role if Reynolds American-Lorillard merger approved

Real estate

Big banks ‘primed’ to come back into office market