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Daily News

 

Thursday
Sep112014

11 September 2014, Thursday

Airlines

GO Phoenix vessel embarks on search for MH370

Special team sent to Ukraine yet to enter MH17 crash site

‘Excessive’ senior management should be the first retrenched in Malaysia Airlines revamp

Outcome of MAS overhaul has implications beyond company

Association cannot interfere in MAS’s disciplinary action against pilots

Capital markets

Long-awaited listing of Malakoff slated for Q2 2015

Asia Media sued over ‘irregularities’ in SDs in respect of financial statements

Healthcare

Abbott investing in facility at Kulim Hi-Tech Park

Oil and gas

Petronas ramping up production at Gumusut-Kakap field

Property

Battersea Project Holding hopes to secure financing by end-October

Technology

HeiTech Padu expects to be profitable this year

Telecommunications

Celcom Axiata’s Q2 revenue up 2%

CEO not leaving anytime soon for MAS

Norway’s Telenor closer to realising ‘Internet for All’ mission in Asia

Utilities

YTL Power may stand to benefit from potential power crunch

ASIA

Airlines

Vistara takeoff delayed

Islamic finance

Hong Kong raises US$1 billion from inaugural Sukuk

StanChart in talks with potential corporate Sukuk issuers from China and Hong Kong

Kazakhstan ‘fine-tuning’ legislation for Shariah-compliant banking

Mergers and acquisitions

Ajinomoto buys unlisted US frozen foods maker Windsor Quality

AUSTRALIA

Agriculture

Overseas investors boosting their presence

Education

Australia most expensive place for foreign undergrads, India the cheapest

Employment

No implied duty of mutual trust and confidence in Australia

Decision significant for employers

EUROPE

Antitrust

New chief will have to deal with protracted settlement bid with Google

Autos

Mercedes-Benz targeting potential Porsche buyers with new top-of-the-line AMG GT S

Banks

Head of Santander UK succeeds father; now Europe’s top female banker

UK

Employment

Broker allegedly bullied at BGC Partners loses lawsuit against company

Franchising

Tough but commercially acceptable decisions by franchisor won’t lead to successful claim for breach of good faith

US

Gaming

MGM Resorts wins regulatory permission to re-enter Atlantic City casino market

Intellectual property

McDonald’s files for ‘McBrunch’ trademark

Property

35,000 sq ft Disney-like castle on the market for US$45 million

Technology

Launch of Apple Pay in Asia remains far off

Wednesday
Sep102014

10 September 2014, Wednesday

Autos

Car prices could drop 1%-3% post-GST in 2015

Aviation

‘High-energy objects’ caused MH17 to break up in mid-air and crash

Capital markets

Felda now a substantial shareholder in BHS Industries

Employment

Keretapi Tanah Melayu sacks eight workers, suspends 16 others over picket

Graft

Private sector should take more active role in fighting corruption

Healthcare

Three new Columbia Asia hospitals by 2018

Islamic finance

Malaysia can play pivotal role in issuance of green Sukuk

Logistics

DHL Supply Chain allocates RM100 million to strengthen footprint

Media

The Edge Financial Daily sports new look and size; first redesign of newspaper since 2007

Oil and gas

Malaysian companies secure RM528 million in sales on mission to Norway

Property

PR1MA Malaysia’s Seremban Sentral modelled on KL Sentral

Symphony Life eyeing sales of RM2 billion by 2018

Takaful

Sector expected to grow 14.4% this year

Tax

IRB Public Ruling No 6/2014: Taxation of Foreign Fund Management Company

Telecommunications

U Mobile plans IPO

Utilities

1MDB’s closely-watched IPO of power assets deferred to early 2015

ASIA

Business

Companies find it easier to persuade executives to move to Singapore than to Shanghai

Islamic finance

Hong Kong launching maiden Sukuk today

AUSTRALIA

Airlines

‘Unrelenting support’ from travel agents credited with MAS recovery

Intellectual property

Kebab wholesaler, shops liable for infringing registered trademark of Halal Certification Authority

Isolated DNA and RNA are patentable subject matter; contrasts with US Supreme Court findings

Key issue whether invention in patent constitutes 'manner of manufacture'

Property

Record price for off-the-plan Byron Bay apartment smashed

UK

Consumer goods

Philippines’ San Miguel examines bid for British snacks producer United Biscuits

Tort

Quindell wins libel lawsuit against short-seller Gotham City Research

Assessment of damages in November

US

Financial services

S&P, Markit final bidders for Barclays’ index business

Oil and gas

Venezuela’s PDVSA seeks preliminary offers for US unit

Real estate

Luxury condo pushing limits of NYC real estate to new heights with million-dollar parking spots

2-acre bayfront property on the market for US$60 million

Technology

Apple unveils watch, larger iPhones and mobile payments service

Investors underwhelmed by major product launch

Lack of ‘lead left’ bank gives Alibaba control of IPO, but has resulted in complex arrangement

Microsoft in talks to buy Swedish company behind ‘Minecraft’ video game

Tuesday
Sep092014

9 September 2014, Tuesday

Autos

New Proton compact car to be launched 25 September

DRB-Hicom confident RM500 million investment will pay off

Aviation

Highly anticipated preliminary report on what brought down MH17 out today

Malaysia Airlines revamp: Promised changes will have to be seen to be believed

Construction

Sector could see double-digit growth again

VTI Vintage moving away from core business to construction projects

Finance

Pemandu CEO among policymakers on Bloomberg Markets’ 50 Most Influential list

Food and beverage

ACE Market-listed Oversea Enterprise cautious about expansion, watching cash flow closely

Islamic finance

Malaysia leads the pack

Registered Shariah advisers as at 31 August 2014

Media

Rev Asia disposing of 27% stake in Australia-listed iCar Asia

theSun retracts report

Mergers and acquisitions

Employees Provident Fund wants a say in mega-bank merger

Proposed Scope Industries-Matang merger is off

Oil and gas

Eversendai bags maiden O&G contract

Property

MRCB seeking to acquire 30% interest in PJ Sentral Development for RM85 million

Profit Consortium chosen over Ivory Properties to revive abandoned Plaza Rakyat

Tobacco

Philip Morris maintains prices

BAT price hike seen as detrimental

ASIA

Energy

Japan’s Sharp looking to sell US-based solar energy development unit

Plantations

Indonesia’s president against draft Bill limiting foreign ownership of plantations to 30%

AUSTRALIA

Employment

A$1.6 million payout to former CEO one of the biggest in an employment dispute

Oil and gas

Brambles acquires UK-based Ferguson Group for £320 million

EUROPE

Antitrust

Internet search company Google ordered to make more concessions

Mergers and acquisitions

Sweden’s Electrolux makes its biggest purchase

Latest deal more important for Electrolux than it is for GE

SINGAPORE

Gambling

Remote Gambling Bill tabled; S$20k fine if companies’ online adverts accessible by Web users

Singapore Turf Club will apply to be exempt operator

Healthcare

Philips’ new facility ready by H1 2016

UK

Construction

Balfour Beatty wins £42 million contract to redevelop teaching faculty for Leicester varsity

Property

Battersea Power Station Development aims to finalise another round of financing by end-October

US

Antitrust

DreamWorks Animation SKG, Walt Disney accused of agreeing not to poach each other’s workers

Islamic finance

Goldman Sachs’ planned Sukuk Wakalah not about pricing or valuation, but the signal that it sends

Real estate

Eco-friendly tiny homes not for everyone

Monday
Sep082014

8 September 2014, Monday

Aviation

Malaysia Airlines may finally have a plan that has a chance of succeeding

MH370 investigators still working with 1,000 possible flight paths

Chinese authorities openly hostile towards relatives of those lost

Special team heads for MH17 crash site in Ukraine

Banks

No further consolidation in immediate term

Capital markets

Khazanah Nasional may divest stake in Westports Holdings

Earnings

Solid H1 for dotcom pioneer MOL Global

Energy

1MDB will be country’s largest IPP when all projects commissioned

Investment

Pelaburan Mara not fixated on investing only in large or medium-cap firms

Islamic finance

Banks should look beyond Malaysia

Malaysia should take next step in internationalising sector

Bank Islam keeping M&A options open to parties that can complement its strengths

Legislation

Sedition Act 1948 stays for now; Bar Council’s draft Bill not endorsed by government

Malaysian Bar EGM next Friday

Media

Journalists thrust into spotlight; worry looms messenger may well end up getting proverbially shot

Oil and gas

Coastal Contracts extending participation in upstream segment

WZ Satu looks to O&G sector for growth

Malaysian companies should tap opportunities in Mexico

Plantations

TDM committed to Indonesia despite regulatory changes there

Top Glove may pare down stake in Sumatran rubber plantation

Property

Strategic Royal Malaysian Air Force bases on developers’ radar

Government urged to ban bulk property purchases

Tobacco

British American Tobacco raises prices

Tort

Housewife in ‘unlawful and unjustified’ shooting awarded RM300k in damages

ASIA

Airlines

Indonesia AirAsia X receives air operator’s certificate; Melbourne-Denpasar likely first route

Investment

China relaxes bureaucratic procedures for companies investing abroad

AUSTRALIA

Employment

Chief economist directed to stand down over offensive Facebook posts

Intellectual property

Limitations of registered trademarks that contain highly descriptive words

EUROPE

Banks

Swiss banks that once relied on word-of-mouth referral hit the road to attract new clients

Capital markets

Sheer number of deals starting to put fund managers off

SINGAPORE

Capital markets

Money managers bullish on Singapore

Property

28-floor Straits Trading Building likely to be sold for S$450 million

UK

Employment

Constructive dismissal possible even if, unknown to employer, employee in serious breach of contract at point of resignation

Energy

First Utility may raise money through public listing or outside investor to fund expansion abroad

Intellectual property

US hit TV show ‘Glee’ may have to change name in the UK

US

Antitrust

Investors may pursue lawsuit against 12 major banks

Technology

Alibaba begins pitching investors on upcoming IPO in hopes of raising over US$20 billion

Acquisitions could dent profit margins

Tepid US retail interest could be a drawback for Alibaba

Legal fees for Alibaba’s IPO fourth highest in past 10 years

Pressure on Apple to wow at tomorrow’s ‘special event’

Friday
Sep052014

5 September 2014, Friday

Aviation

Dutch Safety Board’s first report on downing of MH17 out Tuesday

New analysis and sophisticated mapping technology narrow search for MH370

Malaysia Airlines needs a leader who knows the trade

Banks

Maybank plans to raise up to US$5 billion via euro-commercial paper notes

Analysts expect a better H2

Business

Succession planning for family businesses more important than ever

Capital markets

Eastspring Investments attracting more clients who want to invest in smaller companies

Commodities

Crude palm oil exempted from export taxes for two months

Criminal procedure

Coroner and High Court erred in applying wrong standard of proof

Franchising

Homegrown fast food chain Marrybrown in expansion mode

Infrastructure

Muhibbah Engineering, AlloyMTD among 20 potential bidders for Philippines project

Islamic finance

Diversity of Sukuk products important to further expand industry

Sovereign Sukuk issuance expected to reach US$30 billion by end-2014

High demand for Sukuk

Khazanah Nasional issues US$500 million Sukuk convertible into shares of Tenaga Nasional

IILM keen to attract new members

Legal profession

Main IO in Sodomy II trial may fulfil wish to practise law

Management

AmMetLife Insurance’s choice of CEO gets BNM nod

Property

Current prices close to not being ‘not affordable at all’

Bina Darulaman to acquire 467 ha in Kedah for RM200 million

Employees Provident Fund now a substantial shareholder of UOA REIT

Al-'Aqar Healthcare REIT terminates sale of Hotel Selesa, Metropolis Tower in Johor

Takaful

Industry needs to re-examine strategies, operations and regulations

Tort

Former deputy minister not liable for defamation against Felda

ASIA

Airlines

Indonesia’s Garuda delays plan to sell part of Citilink stake due to low valuations

Competition

Competition Commission of India still investigating Sun Pharmaceutical/Ranbaxy deal

Real estate

Bangkok Land set to list Thailand’s first REIT in October after IPO next week

AUSTRALIA

Competition

ACCC approves Fairfax’s takeover of Canberra online real estate business All Homes

Employment

Distinction between swearing in the workplace and swearing at someone in the workplace

CANADA

Employment

Electrician’s comments warranted discipline, but not dismissal

Energy

Northland Power acquires 85% stake in three offshore wind parks

EUROPE

Mergers and acquisitions

Electrolux, General Electric hammering out final terms of deal

Toys

Lego seizes crown as world’s biggest toymaker from Mattel

Strong profits in H1 helped by success of Lego movie

SINGAPORE

Legal profession

Rajah & Tann Asia, Stamford Law dominate list of most influential young lawyers

Real estate

Temasek, JTC merging four subsidiaries

Singapore top source of Asian capital for investments in global real estate

UK

Autos

McLaren back in profit, thanks to more sponsorship, growth in applied technologies business

Dispute resolution

London courts get ready for digital reboot

Property

84in-wide terrace home going under the hammer, could fetch more than £235k

US

Healthcare

First whistleblower settlement involving false country of origin claims for medical devices

Islamic finance

Goldman Sachs could become only second non-Islamic bank to sell Sukuk