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Daily News

 

Tuesday
Jul142015

14 July 2015, Tuesday

Banks

SME Bank’s FY14 profit down 70% on higher impairment provision

Capital markets

ACE Market listing framework enhanced

Bursa Malaysia statement

Integrated Rubber exits PN17 status

Construction

Muhibbah Engineering secures Northport contract

Graft

Police searching for whistleblowers

Some of the controversies 1MDB is embroiled in

Investment

Malaysia’s ranking in Baseline Profitability Index improves

Legal profession

Show cause letter issued ‎to Umno lawyer for alleged professional misconduct

Media

Astro Malaysia reaching out to more rural households

Oil and gas

SapuraKencana Petroleum awarded Oil and Natural Gas contract

Market confident about Uzma

Property

Strong investor interest in debt-laden 1MDB’s Bandar Malaysia

Hua Yang’s Q1 profit up nearly 25%

Sanbumi diversifying into property development

Social media

Blogger Papagomo faces arrest over false info on Low Yat melee

Technology

Exabytes Network gains 15% share of Singapore hosting market via acquisition of Signetique

Telecommunications

DiGi.Com’s Q2 profit down 7%

ASIA

Autos

Hyundai to boost SUV line-up

Mergers and acquisitions

Samsung C&T all out to coax investors into backing merger with Cheil Industries

Real estate

CBRE Global Investors sells portfolio of malls in France and Belgium to China Investment

Technology

Unexpected demise of Nintendo president leaves void in video gaming

Efforts to improve rospects for patients are advancing

AUSTRALIA

Contract

Law of contracts formed through electronic means, legal issues surrounding e-signatures

Manufacturing

Hopes that weaker Aussie dollar would revive industry aren’t panning out

SINGAPORE

Airlines

Tiger Airways can benefit from Singapore Airlines’ scale and connectivity

Economy

Q2 GDP misses expectations

Investment

GIC takes up minority stake in Rio de Janeiro mall

Legislation

Feedback on draft GST (Amendment) Bill 2015 accepted until 31 July

UK

Competition

Hertz, Avis Budget pledge to make changes to practices

Property

Flats in yet-to-be-built London skyscraper sold out within five hours

US

Investment

Emerging markets guru stepping down as lead manager on £1.9 billion stock fund

Real estate

New York’s biggest office landlord to sell Manhattan assets in two deals

Technology

Investment arm of China’s Tsinghua University eyeing chipmaker Micron

Facebook’s market value tops US$250 billion for first time since IPO

Monday
Jul132015

13 July 2015, Monday

Autos

Perodua looking to export Axia by Q4

Aviation

Memorial service held to remember victims of MH17

Investigations into downing of MH17 until December

MH370 must be found if mystery of disappearance ever to be resolved

Graft

PM’s lawyer explains unusual move was to avoid professional negligence

Police probing members of taskforce over potential leaking of classified documents

Investigators look into bank transactions by PM’s wife

Healthcare

IHH takes prudent and stringent approach in selecting potential acquisition target

Insurance

Sales of high-end policies decline post-GST

Legal services

DIYLaw project kicks off next month

Legislation

Provisions in Employment Act 1955 relating to sexual harassment at workplace under review

Media

1MDB displeased with the Star’s ‘poor reporting’

Mergers and acquisitions

China-based XiDeLang takes M&A route to boost production capacity

Plantations

Felda settlers told ‘prospects’ still there for Felda Global Ventures

Property

Low-profile Minho generating investor interest for land bank in Klang

Ewein obtains approval to develop land in Penang into residential and commercial property

Property business seen to contribute more than 80% to net profit for FY16

Kelana Jaya one of the most attractive residential suburbs in Klang Valley

Tort

High Court to hear PM’s application in defamation suit against Harakah on 23 July

Utilities

Uncertainty remains over Selangor’s water asset consolidation exercise

ASIA

Economy

Growth in emerging economies on track to record weakest quarter since 2011

Energy

Thailand will have more solar power capacity than all of SE Asia combined by December

Real estate

InterContinental Hong Kong sold for US$938 million; IHG retains management contract

Technology

Samsung launch of oversize smartphone line-up moved to mid-August

AUSTRALIA

Banks

ANZ, CBA, NAB and Westpac need to lift capital ratios

Telecommunications

Stage set for bidding war between rival telcos vying to offer Netflix

SINGAPORE

Capital markets

New CEO of Singapore Exchange will have to confront some acute issues

Oil and gas

Digiland hopes to accelerate transformation into O&G company with appointment of new CEO

Real estate

CapitaLand and Qatar Investment Authority partnering in US$600 million venture

UK

Banks

Royal Bank of Scotland’s Greek shipping loans portfolio for sale

Consumer goods

Unilever working with headhunter firm to identify next chairman

Retail

Competition from suburban malls and online retailers have hurt Orchard Road’s glitzy malls

US

Antitrust

Halliburton-Baker Hughes merger expected to close by December

Mergers and acquisitions

General Electric’s Alstom, Electrolux deals imperilled by regulatory hurdles

Friday
Jul102015

10 July 2015, Friday

Autos

Proton offering special deals in conjunction with 30th anniversary

Aviation

Russia opposes request for international tribunal to prosecute those suspected of downing MH17

Still no conclusive proof of who was responsible for tragedy

Indonesia softens stance on airline equity ruling

Economy

Bank Negara Malaysia maintains OPR at 3.25%

Graft

Financier’s accounts under scrutiny amid ongoing probe into 1MDB

1MDB withholding documents despite requests from A-G’s department

Netizens warned not to spread false info

Regulator’s caution an overreaction by federal agency

PM should open books to investigators

Islamic finance

Malaysia aspiring to become first nation to make certification for Shariah scholars compulsory

Central bank’s halt on Sukuk opens door wider for other borrowers

Property

GuocoLand keeping options open on how to monetise Damansara City Mall

Sunway Property launching six projects in H2

Tort

AirAsia files suit against Tourism Malaysia chairman

Transport

Kuala Lumpur-Padang Besar ETS starts today

Utilities

Jimah East Power now a subsidiary of Tenaga Nasional

Chugoku Electric Power might take up stake in 3B Power

ASIA

Corporate governance

Activist investor Elliott’s spar with Samsung a good thing for South Korea

Bid to merge Samsung affiliates raises wider questions

Retail

Britain’s SuperGroup steps up push for global presence

AUSTRALIA

Banks

UK bank tax will complicate National Australia Bank’s sale of Clydesdale

Contract

Lease enforceable even though landlord licensee had breached statute

EUROPE

Competition

Court of Justice upholds €288 million fine on Taiwanese company Innolux

Thursday deadline for General Electric to offer concessions on Alstom bid

Insurance

Munich Re may call off planned €90 million takeover of Greece’s ATE

SINGAPORE

Earnings

SPH’s Q3 profit boosted by property business, but publishing operations continue to suffer

Legal services

Start-up DragonLaw looking to expand into SE Asia from Singapore

Real estate

Crowdfunding site CoAssets listed on National Stock Exchange of Australia

Start-up eyes move to Australian Securities Exchange by late 2016

UK

Construction

Embattled Balfour Beatty issues seventh profit warning in just two years

Media

BT escalates increasingly bitter war with arch-rival Sky

US

Mergers and acquisitions

Coty seals deal to buy Procter & Gamble’s beauty business

P&G won’t chase fashion trends anymore

Real estate

Seattle latest West Coast hot spot for homebuyers

Thursday
Jul092015

9 July 2015, Thursday

Autos

New variants of Proton Perdana, Persona and Saga out next year

Capital markets

Securities Commission introduces new category of fund management licence

SC statement

AirAsia X lodges complaint against GMT Research

Construction

MRCB and DRB-Hicom to undertake RM310 million job in Kedah

Contract

WCT unit awarded RM1 billion in dispute with Meydan

Earnings

LPI Capital’s Q2 profit up 68%

Graft

1MDB controversy has gripped nation

1MDB office raided, financial markets spooked by furore and ensuing political crisis

Key players in furore and what to watch for

CIMB Islamic CEO faces internal inquiry for erroneous analysis on WSJ

Human rights

Malaysia upgraded in US human trafficking report

Mergers and acquisitions

Lawsuit filed against Tenaga Nasional relating to takeover offer for Integrax

Property

BLand sees stable market for luxury housing products in Penang

Magna Prima evaluating offers for its prime parcels in Klang Valley

Retail

Wing Tai Malaysia may open more Uniqlo stores

ASIA

Capital markets

China’s stock market crash might have graver implications for world economy than Greek crisis

Stock market rout takes a toll on country’s rising super-rich

IPO drought hits Hong Kong

Islamic finance

Bank of Tokyo-Mitsubishi first Japanese bank to offer Islamic finance through MidEast branch

AUSTRALIA

Employment

Inappropriate use of work phone a factor in decision to dismiss plumber’s application for unfair dismissal

Telecommunications

Telstra ramps up investment in mobile networks to fend off Singtel-Optus

CANADA

Employment

Dental hygienist was not constructively dismissed

Legal services

Gowlings linking up with UK-based Wragge Lawrence Graham

Gowling WLG won’t follow Swiss verein model

SINGAPORE

Investment

Temasek expands share of life sciences, agriculture and consumer assets

Technology

Creative Technology blames Huawei for failed broadband project

UK

Banks

Barclays CEO ousted; British lender latest in Europe to replace top executive

Legal services

Tie-up with Gowlings by far WLG’s most ambitious international move

US

Capital markets

Trading on New York Stock Exchange resumes after being halted for nearly four hours

Technology

Microsoft cutting jobs, CEO scaling back mobile ambitions

Four of the most costly charges in company’s history

Wednesday
Jul082015

8 July 2015, Wednesday

Administrative law

High Court to hear application to quash Selangor Islamic Religious Council ruling in November

Airlines

Indonesia AirAsia faces suspension unless it raises new equity by end-July

AirAsia shares tumble

Capital markets

Employees Provident Fund raises stake in Yinson

Johor crown prince now a substantial shareholder in TMC Life Sciences

Contract

Tycoon loses final legal bid to restore civil suit against Khazanah Nasional

Graft

PM begins legal process to clear name

Six bank accounts frozen

Accounts frozen different from the ones reported

Two accounts belong to SRC International and Ihsan Perdana

Monetary Authority of Singapore in contact with banks

Islamic finance

Sector yet to bring about financial inclusion to Muslim masses

Take-up rate at retail and household levels still on lower end

Standard & Poor’s halves forecast for global Sukuk issuance

Logistics

NCB not giving up loss-making Kontena Nasional

Property

Bina Darulaman set to commence four projects in Langkawi next year

Darul Ehsan Investment seeks JV partners

Hua Yang confident market will improve in H2

Sunsuria may sell 10% of 330-acre tract in Sepang to international education group

Retail

Japan’s Aeon eyeing Tesco Malaysia

ASIA

Islamic finance

Indonesia strives to make sector more appealing to foreign lenders

Mergers and acquisitions

Proposed merger of Cheil-Samsung C&T clears another hurdle

AUSTRALIA

Infrastructure

Chinese infrastructure groups will bid for port and utility deals by year-end

Tort

Make reasonable enquiries before publishing something defamatory about prominent person

Part 1

EUROPE

Autos

UBS to help manage Ferrari IPO in New York

Intellectual property

‘Zorro’ trademark invalid; name of masked avenger non-distinctive

Media

Germany’s top TV broadcaster, biggest newspaper publisher again test waters for potential merger

SINGAPORE

Commodities

PwC to review Noble’s accounting practices

Employment

Sacked Commerzbank trader sues for wrongful dismissal

Investment

Temasek sticking with China bets

Telecommunications

Fourth telco may join the fray

US

Banks

JPMorgan settles credit card debt probes

Food

Bakery company Hostess Brands pulls itself from auction block, to pursue IPO instead

Technology

Ride-sharing service Uber faces issues even in home state

Uber setting up in Indonesia