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Daily News

 

Wednesday
May132015

13 May 2015, Wednesday

Autos

Weststar Maxus ropes in China’s SAIC Motor

Used-car market could see downtrend until 2020

Economy

Oil rally hasn’t allayed concerns over nation’s deteriorating finances

Financial services

Matter of ‘when, not if’ fee-based advice becomes the norm

Insurance

AIA set to name first female CEO

Zurich Insurance sees investment opportunities in China, India, Europe and US

Fitch expects Malaysian Re’s market dominance to continue

Investment

1MDB may have to settle US$975 million loan earlier than August

1MDB has progressively raised more questions than answers about its dealings

Islamic capital markets

Aeon Credit Service looking to raise RM1 billion via Sukuk

Negligence

Putrajaya, Malaysian Anti-Corruption Commission responsible for death of former political aide

Oil and gas

Industry players cutting salaries, laying off employees or redeploying manpower due to slowdown

Dialog’s Q3 profit surges on contributions from upstream activities

Property

Indonesia’s Mulia to develop Signature Tower at Tun Razak Exchange

KWAP’s explanation of no help

Brickz Research portal aims to increase nation’s global real estate market transparency ranking

OSK gets SC nod on plans for OSK Property, PJ Development

Retail

Boustead Ikano’s MyTown mall opening in H2 2016

Takaful

Takaful Malaysia in for another record year

ASIA

Banks

Former Barclays bankers setting up boutique advisory firm

Singapore’s DBS seeks Reserve Bank of India approval to set up wholly owned unit

Beverages

Myanmar Beer up against rising competition from Carlsberg, Heineken

Capital markets

Brunei launching securities exchange in 2017

Islamic finance

China draws on GCC expertise

EUROPE

Antitrust

Decision on General Electric-Alstom deal by 21 August

Autos

Audi overtakes BMW as world’s biggest seller of luxury cars

Krueger takes the wheel at BMW

BMW has invested massively to create variety

Beverages

Carlsberg’s Russian hangover won’t go away

Telecommunications

Head of Telenor’s Asia operations taking over as CEO in August

SINGAPORE

Earnings

SingPost’s Q4 profit down on lack of gains in investment properties

Legal services

Dentons closing Singapore practice

Property

Frasers Centrepoint wants to expand portfolio with assets that can increase recurring income

UK

Arbitration

Whether English court or ICC arbitral tribunal had jurisdiction

Decision

Employment

Act not protected by whistleblowing legislation cannot become protected by linking it to another act

Decision

When seeking to introduce new restrictive covenants for employees, substantial consideration must be provided in return

Property

British Land and Singapore’s GIC to redevelop 100 Liverpool Street

Walbrook Building sold to Cathay Life for £575 million

US

Media

Executives set to come out on top for seventh successive year

Technology

Verizon acquiring AOL for US$4 billion

Executive fired for disabling 24-hour tracking app on company phone sues for wrongful termination

Tuesday
May122015

12 May 2015, Tuesday

Airlines

Malaysia Airlines seals two cheaper and shorter catering agreements with Brahim’s

Carrier shifting focus to Amsterdam

Corporate governance

Malaysia ranked joint first among developing countries

Earnings

Petronas Dagangan’s Q1 profit up 32.7%

Energy

Tenaga Nasional has not been approached to take over Project 3B

Gaming

Genting Malaysia unit disposing of Genting Hong Kong stake

Intellectual property

Global Intellectual Property Valuation Conference next month

Oil and gas

SapuraKencana Petroleum subsidiaries bag contracts in Mexico, Indonesia, Vietnam and India

Petronas scaling down exploration activities by June

Property

MRCB sets RM910 million sales target

Sunway acquires 17 acres next to Western Digital in Sungei Way Free Trade Zone

Tropicana’s performance improves on higher revenue recognition across key projects

Selangor Dredging getting ‘strong interest’ in Hotel Maya Kuala Lumpur, but no offers yet

Police probing allegations of mismanagement, abuse of power in Lembaga Tabung Haji-1MDB deal

Lembaga Tabung Haji invested RM920 million in 1MDB’s Bandar Malaysia Sukuk

Technology

MDeC bullish on sector’s investment climate

Tort

Perkasa president will appeal against High Court’s decision

ASIA

Earnings

Electronics conglomerate Sharp’s long-term survival in doubt

Tax

Indonesia may cut corporate tax rate

AUSTRALIA

Banks

Goldman Sachs ordered to pay US$80 million to National Australia Bank

Economy

Australia not at risk of losing AAA credit rating

Gaming

No duty of care owed to problem gamblers to prevent them from suffering gambling loss

GLOBAL

Data protection

Important to test and monitor for compliance on a regular basis

Mergers and acquisitions

Managing M&A in biotech and pharmaceutical sector

SINGAPORE

Mergers and acquisitions

Pace in SE Asia has slowed, but Singapore still in a strong position to host more big deals

Real estate

Jurong Country Club to make way for terminus of HSR link with Malaysia

Soil conditions could prove challenging

UK

Competition

Competition and Markets Authority intervenes in Greene King’s proposed takeover of Spirit Pub

Insurance

Limits of ‘one-stop one jurisdiction’ principle

Legal services

Gateley preparing to become first UK practice to float on stock market

Property

Byfleet Manor, home of the Dowager Duchess in Downton Abbey, for sale at £4 million

US

Autos

Volvo building first US factory in South Carolina

US decision puzzles analysts

Banks

Nomura and RBS misled investors in mortgage-backed securities

Oil and gas

Castleton Commodities vaults into big leagues of global crude and fuel traders

Monday
May112015

11 May 2015, Monday

Airlines

Nufam makes last-ditch effort to save Malaysia Airlines jobs

Capital markets

Long dry spell of IPOs on Bursa Malaysia about to end

Energy

1MDB assets ripe for the picking

Property

KWAP paying RM1 billion for land and 40-storey tower at Tun Razak Exchange

Not first instance in which Tabung Haji seemingly abused to help out ailing company

MCT plans REIT by 2020

WCT focusing on demand-oriented property sales and land value enhancement

Some segments in Iskandar region performing well, housing expected to remain relatively muted

Slowdown in sales a short-term situation

Magna Prima in a stronger financial position

Sport

No wildcard for former badminton world No 1

Takaful

Former head at Great Eastern Takaful is new CEO of AmMetLife

Telecommunications

Telcos could see small drop in profit on lower prepaid usage

Tort

Perkasa chairman’s suit against The Star Publications and columnist struck out

Transport

Future KL-Singapore HSR link not designed for daily commuting purposes

ASIA

Commodities

Chocolate makers ordering less of raw material

Islamic finance

Industrial and Commercial Bank of China, IDB team up

Technology

Samsung vice-chairman’s flexible leadership gaining support among employees

Foreign investment banks starting to make inroads among India’s booming tech start-ups

AUSTRALIA

Construction

Obligation to pay liquidated damages not penal

Real estate

Industry may not escape compliance of Anti-Money Laundering Act for long

EUROPE

Antitrust

Qualcomm’s rivals asked about impact of US chipmaker’s business practices

Siemens/Dresser-Rand deal set to win unconditional approval

Technology

Ericsson takes recent fight with Apple to Europe

SINGAPORE

Banks

Dearth of mergers taking a toll on bankers

Healthcare

Singapore finding it harder to retain title as region’s top medical tourism hub

Technology

Cash available to new start-ups in SE Asia has gone from virtually non-existent to abundant

Tort

AXA followed procedure before telling Prudential and Tokio Marine of ex-director’s ratios

UK

Accountancy

Tesco dumps PwC in wake of £263 million accounting scandal

Banks

Barclays‎, Lloyds and RBS eyeing windfall from takeover of Visa Europe

Talks could fall apart if two sides can’t agree on price

Mergers and acquisitions

UK government increasingly hostile to foreign takeovers

US

Real estate

TPG Capital close to buying Cushman & Wakefield and combining with DTZ

Technology

Ride-hailing company Uber in talks to raise US$1.5 billion in financing

Friday
May082015

8 May 2015, Friday

Banks

OPR unchanged, as expected

Central bank’s statement

Deutsche Bank divests stake in K&N Kenanga

Capital markets

Chin Hin en route to listing on main market of Bursa Malaysia

Prospectus

Corporate

Maybank, Genting among 16 Malaysian firms on Forbes’ Global 2000

List

Financial services

Malaysia Building Society’s Q1 profit down 37% on higher bad loan allowance

MBSB, EPF studying KFH Malaysia from ‘afar’

Plantations

Unclear whether Felda Global Ventures will see change in leadership

Disposal of travel, property and IT arms complete by Q3

Property

The Edge Media Group launches one-stop centre

Lembaga Tabung Haji clarifies purchased only one plot in Tun Razak Exchange

UOA Development has four launches lined up

Technology

Yelp arrives in Malaysia

Telecommunications

Malaysia’s broadband plans versus Singapore and Thailand

ASIA

Islamic finance

Hong Kong’s goal of becoming Shariah hub for Chinese companies remains elusive

Steady growth in Brunei Darussalam

Technology

Old colleague of world’s first drone billionaire trying to take him down

AUSTRALIA

Earnings

Macquarie beats analysts’ expectations

Insurance

Broker sacked just days after being honoured

CANADA

Capital markets

Plane and train maker Bombardier plans IPO of rail division

Insurance

Asian and asset management segments seen to be Sun Life’s engine of growth

GLOBAL

Corporate

200 newcomers to this year’s Forbes Global 2000

Full list

Sport

Real Madrid named world’s most valuable football team for third consecutive year

SINGAPORE

Arbitration

Proceedings commenced against shipbuilder Otto Marine

Corporate

DBS tops local companies in Forbes’ Global 2000 list

List

Earnings

Wilmar’s Q1 profit up 49%

UK

Insurance

Aviva posts 14% rise in value of new business for Q1

CEO expanding Asia business

Negligence

Engineer’s duty to warn and responsibilities in relation to permanent and temporary works design

Duty to warn only in circumstances where there is real danger to life or property

Decision

US

Leisure

Nintendo-Universal Studios partnership sparks fans’ imagination about attractions

Technology

Review site Yelp reportedly exploring a sale

Thursday
May072015

7 May 2015, Thursday

Airlines

Malaysia Airlines needs to ‘retreat and regroup before growing again’

Some major routes may be scrapped

New catering agreement with Brahim’s still not finalised

Banks

Japan’s Daiwa Securities eyeing minority stake in Affin Hwang IB

Corporate governance

Possible irregularities in Scanwolf’s property development division

Economy

Malaysia faces imminent downgrade by Fitch; economists warn of more turmoil ahead

Food and beverage

Fraser & Neave exploring ways to make up for loss of Red Bull

Healthcare

IHH, Sime Darby submit bids for Mahkota Medical Centre in Malacca

Insurance

U for Life’s online platform billed as ‘game changer’

Islamic finance

Kuwait Finance House may sell Malaysian unit

Management

Khazanah Nasional restructures senior leadership team

Property

F&N hopes to launch RM2 billion project in Petaling Jaya by Q2 2016

1MDB to sell two plots of land in Tun Razak Exchange to Lembaga Tabung Haji

Sultan wants Johor Real Property and Housing Board Bill reviewed

ASIA

Autos

Honda’s financial profile expected to remain stable and strong

Insurance

Prudential’s incoming CEO likely to continue predecessor’s strategy

AUSTRALIA

Banks

Golden era of record profits, lush dividends coming to an end for ‘Big Four’

National Australia Bank’s troubled UK business to be spun off in partial public sale

EUROPE

Autos

BMW beats Q1 profit forecasts thanks to record sales of SUVs

BMW introducing 15 models this year

Technology

EU gearing up to tear down digital barriers

Role of internet intermediaries will also be assessed

GLOBAL

Employment

US, Papua New Guinea and Suriname the only countries that don’t offer paid maternity leave

Property

London still world’s most sought-after city for investors

SINGAPORE

Airlines

Tigerair makes progress on aggressive turnaround plan but not out of the woods yet

Earnings

OSIM’s Q1 profit down 53% on weaker sales, lack of product launches

Real estate

Investors who got fingers burnt buying property abroad may have tough time getting money back

UK

Banks

StanChart to review involvement in controversial Australian coal mine

Tobacco

Imperial Tobacco on track to meet targets for 2015

Company has no taste for tobacco heating products others are embracing alongside e-cigs

US

Media

Interim CEO of Al Jazeera America replaced

Mergers and acquisitions

PE firm Golden Gate Capital in advanced talks to acquire parent of Ann Taylor

Real estate

Mexican billionaire’s 20,000 sq ft Manhattan townhouse on the market for US$80 million

Technology

In blow to Google, lion’s share of Mountain View’s future office development awarded to LinkedIn