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Daily News

 

Monday
Aug252014

25 August 2014, Monday

Aviation

Transport minister in Australia to discuss search efforts for MH370

Next phase of hunt very challenging in places; seabed in some locations extremely rugged

Unprecedented tragedy shows industry’s capabilities of tracking aircraft are limited

Khazanah Nasional discussing proposals for Malaysia Airline System tomorrow

Banks

CIMB not aspiring to be bigger than Maybank

Capital markets

Penny stock euphoria is full on

Earnings

Lion Corp in the red

Tan Chong Motor’s Q2 profit down 20% due to price war

TIME dotCom’s Q2 revenue rises

Franchising

Owners of nasi kandar restaurant Hameediyah taking franchise route

Healthcare

Employment opportunities in medical devices sub-sector to double by 2020

Islamic finance

Rapid growth can only be sustained with continuous supply of talent

Sunway unit to launch RM2 billion Sukuk Mudharabah

Leisure

Proposed Malaysia Truly Asia Centre project goes back to drawing board

Property

Hatten plans biggest mall in Negri Sembilan, venturing into Pahang next year

Hektar REIT’s Q2 net property income up 4%

Publishing

Court of Appeal judges lambast JAWI for Borders raid

Sport

Ex-Cardiff City manager used racial slur on Malaysian owner

Accusations of discrimination have not focused on systemic racism that pervades organisations

Telecommunications

DiGi is sole Malaysian company, and only telco from Asia, on Forbes list

'World's Most Innovative Companies' list

Transport

Masteel-KUB’s JV proposal for intercity rail project in Iskandar Malaysia unlikely to be approved

Local companies claim can build KL-Singapore HSR link at lower cost

Taxi drivers want Land Public Transport Commission to act against Uber

ASIA

Competition

Crackdown has hit Japanese auto parts suppliers hardest

Islamic banking

Dubai Islamic Bank seeking to raise stake in Indonesia’s Panin Syariah

Real estate

China State Construction Engineering’s H1 profit up 34%

AUSTRALIA

Airlines

Perth passenger recounts alleged abuse on board Malaysia Airlines flight to Paris

Construction

ATO, ASIC paying special attention to phoenix activity

Employment

Risk of one lawyer doing both an investigation and advice on same matter

Judgment

EUROPE

Autos

Tide beginning to turn against German luxury automakers

Banks

Royal Bank of Scotland could break up Coutts to attract Asian buyers

SINGAPORE

Arbitration

Parties warned against using courts to ‘launch backdoor appeals’

Autos

Malaysia’s Samling nears deal to buy United Engineers’ luxury car distributor

Legal profession

Lawyer with bipolar disorder struck off for embezzling

UK

Intellectual property

UK IPO successful in claim for passing off

Real estate

Iconic Gherkin skyscraper expected to sell for more than £650 million

US

Intellectual property

US Copyright Office says animals, ghosts and gods cannot hold copyright

Mergers and acquisitions

Burger King in talks to buy Canadian coffee and doughnut chain Tim Hortons

Pharmaceuticals

Roche to buy InterMune for US$8 billion in cash

Friday
Aug222014

22 August 2014, Friday

Airlines

Bodies of 20 Malaysian victims of MH17 arrive home

RM7 million in compensation still unclaimed

Celcom CEO likeliest candidate to take over helm of troubled Malaysia Airlines

Leadership change won’t fix all of carrier’s problems

Forex gains help AirAsia report profit that beat estimates

AirAsia could emerge as final victor

Banks

Mega bank merger: EPF will end up as single largest shareholder, followed by Khazanah Nasional

AMMB keeps options open on M&A amid shrinking pool

Earnings

Guinness Anchor’s quarterly revenue largely flat

Magnum’s pre-tax profit for Q2 rises

Pos Malaysia’s Q1 profit down 38%

Insurance

Zurich Insurance expects larger market share within four years

Oil and gas

Dialog’s Malaysian operations report higher revenue

Petrovietnam in talks for loan to acquire stake in Murphy Oil’s Malaysian assets

Private equity

Creador raises RM950 million for second fund

Ekuinas buys into Orkim and CoolBlog to expand O&G and F&B portfolios

Property

Rehda wants GST for properties below RM400k to be zero-rated

Gen Y balk at paying RM400k and above for a residential unit under 450 sq ft

Selangor Dredging has 18 developments under its belt

Budget-friendly PR1MA and PKNS projects

Retail

Thailand’s Central Pattana opening first mall here in 2017

Takaful

Operators should merge due to potential limited growth prospects, insurmountable competition

Tort

Former minister’s defamation suit against Lembah Pantai MP settled

ASIA

Airlines

Scoot’s new JV carrier in Thailand taking off in Q1 2015

Family law

Hong Kong seen as divorce capital of Asia

AUSTRALIA

Aviation

A nightmare year for white-knuckled air travellers

Employment

Employer’s decision to pay flat rate, regardless of award entitlements, was ‘deliberate and calculated’

Judgment

Daiso Australia caught short-changing staff for second time

Company to back-pay all outstanding entitlements, post notices

Gaming

Crown Resorts’ Melbourne casino licence extended by 17 years

SINGAPORE

Competition

CCS seeks views on plans by Seek and Seek Asia Investments to acquire certain assets of JobStreet

Education

MindChamps PreSchool opening first centre in KL by Q2 2015, in Australia by 2016

Land

Condo unit owners not responsible for repairing defects in structural beams above their properties

Oil and gas

McGraw Hill unit Platts consulting with traders on proposal to change loading points from next July

Property

OCBC in talks to sell stake in United Engineers to Thailand’s richest man

UK

Contract

Court of Appeal found irreconcilable conflict, had to rely on ‘hierarchy’ clause

Court willing to implement clearly drafted contract even if it underlines bad bargain one party has potentially entered into

Courts will interpret limitation clauses strictly, provided clear and unambiguous

Judgment

Insurance

RSA selling business in Singapore and Hong Kong to Allied World Assurance

Mergers and acquisitions

Pfizer looking at other possible targets while it weighs renewed bid for AstraZeneca

Property

Taiwan’s Cathay Life Insurance acquires prime property in London

US

Antitrust

Berkshire Hathaway fined US$896,000 over stock purchase

Banks

Increased risk scrutiny of global banks playing out on international stage

Bank of America reaches record US$17 billion settlement with Justice Department

Media

Streaming video company Aereo loses new bid to be recognised as cable-TV service

Mergers and acquisitions

M&A back on Hewlett-Packett’s agenda

Disconnect between big deals and big fees in mergerland

Thursday
Aug212014

21 August 2014, Thursday

Airlines

Pemandu CEO not returning to Malaysia Airlines

Remains of 20 Malaysian victims of MH17 arrive Friday

Moment of silence between 10.45am and 11.15am tomorrow

Live coverage of ceremonial honours for MH17 victims

Top cops look into why someone onboard MH370 might want to prevent it from reaching Beijing

Capital markets

Sumatec Resources, PDZ Holdings lead fall of penny stocks

Constitutional law

Catholic Church filing review application next week

Earnings

Bumi Armada’s Q2 profit down 12%

Boustead Plantations back in the black

IOI posts 51% increase in Q4 profit despite lower revenue

Kuala Lumpur Kepong’s Q3 profit jumps 13%

Food and beverage

OldTown White Coffee may open up to 27 new cafés in FY15

Insurance

AIA posts record performance

Islamic finance

Malaysia set to market itself as world’s one-stop arbitration centre

Property

Penang’s Rice Miller project ready by Q1 2015

Contractors for 118-storey Menara Warisan Merdeka still not finalised

Telecommunications

Altel introducing postpaid service by November

Tort

Lembah Pantai MP, Utusan Melayu reach out-of-court settlement

Umno Youth chief’s appeal to amend defence in RM100 million suit is dismissed

ASIA

Banks

Bank of China proposes record Tier 1 bond sale

Capital markets

Shengjing Bank joins queue of Chinese banks targeting Hong Kong listing

Gaming

Genting’s Resorts World Manila spending RM2 billion on expansion

AUSTRALIA

Competition

ACCC tackles largest petrol retailers over information sharing service

Earnings

ASX exceeds analyst forecasts

Tax

Bitcoin neither money nor foreign currency; guidance disappoints Australian industry

Business receiving bitcoin in return for goods and services may be charged GST

EUROPE

Banks

Investment-banking fees set to reach seven-year high

Investment

Norway’s SWF slows expansion into emerging markets

UK

Construction

Carillion abandons pursuit of Balfour Beatty after third rejection

Employment

Clyde & Co settles long-running whistleblowing dispute with former partner

Employers should be careful about how they manage the performance failures of their managers

US

Mergers and acquisitions

Silver Lake Partners, Bain Capital vying for online photo-sharing services provider Shutterfly

Real estate

Broker, seller’s agent sued for marketing Malibu mansion as 15,000 sq ft but is only 10,000

Lustre fading on some midtown Manhattan skyscrapers

Micro-condos a growing trend in New York, San Francisco

Wednesday
Aug202014

20 August 2014, Wednesday

Airlines

Malaysia Airlines’ Q2 results delayed to 28 August

Revamp includes personnel changes, not just financial overhaul

28 of 43 Malaysians on MH17 identified

AirAsia X suffers third consecutive quarterly loss

Some Australian routes 'soft' in terms of fares

AirAsia not weighing bid for Japan’s embattled Skymark

Autos

September debut for country’s first EEV, Perodua Axia

Banks

Maybank gets nod to raise up to RM10 billion to fund working capital, refinance debt

Capital markets

Buying frenzy on local bourse reaches new heights

Earnings

MBM Resources’ Q2 profit down

Employment

Women who gave up careers to be homemakers being enticed to rejoin labour market

Islamic finance

Khazanah Nasional sells RM1.5 billion Sukuk

DanaInfra Nasional raises RM100 million with Sukuk

Management

MRT Corporation CEO quits, takes full responsibility for accident

Oil and gas

Bumi Armada unit part of consortium awarded Indonesian contract

Plantations

Sime Darby may have to fork out RM3 billion in New Britain Palm Oil deal

Retail

KL Festival City Mall put up for sale

Telecommunications

TIME dotCom’s stake in Google-led ‘Faster’ cable system costs RM179 million

ASIA

Antitrust

12 Japanese auto part and bearings makers fined

Gaming

World’s biggest fish market a potential site for MGM’s casino resort in Japan

Galaxy Entertainment’s H1 profit up 29%

Islamic finance

International Bank of Azerbaijan preparing to launch separate Shariah-compliant unit

AUSTRALIA

Employment

Employer had valid reason to terminate forklift driver

Duty to instruct employees on how to safely carry out duties extends even to the obvious

Insolvency

ASX-listed Buccaneer Energy’s centre of main interests was the US

EUROPE

Intellectual property

US tobacco giant Lorillard told to stop selling popular blu e-cigarettes in Germany

Real estate

3,300 sq m penthouse billed as world’s most expensive may sell for more than €300 million

SINGAPORE

Financial services

Nikko Asset Management sets up specialist portfolio management team

Shipping

Neptune Orient Lines looking to sell APL Logistics division

UK

Mergers and acquisitions

Carillion ramps up pressure on Balfour Beatty to reopen merger talks

Tobacco

Shrinking markets, currency swings harming Imperial Tobacco’s global sales

US

Antitrust

Airlines’ price-fixing cartel affected Deutsche Bahn’s freight business

Banks

StanChart fined US$300 million

Media

Al Jazeera rejects allegations from former US VP and co- founder of Current TV

Tuesday
Aug192014

19 August 2014, Tuesday

Airlines

Ailing Malaysia Airlines reportedly giving 11% commission for all flight tickets from Australia

HSBC officer and husband arrested, Pakistani national wanted in connection with alleged theft

Jalur Gemilang to be flown at half-mast, entertainment events shelved on Friday

Autos

Proton-Perodua rivalry to intensify with launch of new compact models

UMW’s core operations set to perform better

Capital markets

Bursa Malaysia making it easier for individuals to open trading and securities accounts

Earnings

Tune Ins’ Q2 profit down 12%

Energy

Award of contract to Fuelsubs House held back

Baram villagers refuse to give consent for dam project to proceed

Investment

Pelaburan Mara looking to invest in fixed income, real estate and private equity

Islamic finance

Malaysia Airports Holdings plans rated perpetual Sukuk

IILM issuing US$790 million Sukuk on Monday

Management

Yasmin Mahmood is new CEO of MDeC

Probably best time for Creative Content Cluster to demand own special purpose agency

Oil and gas

Ideal Jacobs making headway into lucrative industry via RTO

Spain’s Tecnicas Reunidas wins turnkey contract as part of Rapid project

Remuneration

Genting directors rated the best-paid directors, according to Malaysian Business

Tax

Database on goods and services tax registered companies next April

Tort

News portal The Malaysian Insider must respond to legal notice by tomorrow

ASIA

Insurance

Hong Kong-listed Fosun in talks to buy Swiss Re’s Aurora

Islamic finance

Incentives to help revive domestic market for Sukuk may be in Indonesia’s five-year plan

AUSTRALIA

Energy

Solar Systems suspends plans for 100MW plant in Victoria

Gaming

Echo Entertainment may buy golf course for resort to entice VIP gamblers

Insurance

Insurance Australia Group’s full-year profit rises on higher investment income

QBE’s H1 profit drops

Legal services

Global accountancy firm PwC enters Australian legal market

Real estate

Heeton, KSH and Lian Beng co-developing A$150 million project in Brisbane

KKR, Abacus acquiring 70% of World Trade Centre

SINGAPORE

Mergers and acquisitions

Olam International sells 25% stake in packaged foods operations to Sanyo Foods

Property

Urban planners have their work cut out to fully transform Jurong

UK

Dispute resolution

US weapons maker Raytheon awarded £224 million over unlawful termination of e-borders contract

Insurance

Amlin’s estimated net exposure to MH17 disaster, Tripoli Airport fire less than £25 million

US

Consumer products

Procter & Gamble may divest Duracell and Braun

Real estate

Sultan of Brunei not bidding for hotels

Technology

Google’s performance helped stoke demand for IPOs of Facebook, Alibaba