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Daily News

 

Friday
Dec052014

5 December 2014, Friday

Airlines

Jentayu Danaraksa more interested in Penerbangan Malaysia than MAS

Banks

Lenders told to guard against speculation in ringgit

Capital markets

Trading of Malaysian Airline System shares suspended from 15 December

CLIQ Energy reclassified due to interest income received during IPO

Government spending

Fiscal deficit targets for this year and next ‘overly’ and ‘unrealistically’ ambitious

Healthcare

Medical care will cost more after GST

Intellectual property

KL restaurant said to have copied Australia’s The Meat & Wine Co

Judiciary

Lawyer denies impropriety

Leisure

World’s first Twentieth Century Fox World theme park ready by 2016

Oil and gas

Icon Offshore taking advantage of low crude oil prices to seek bargains

Property

Johor projects to keep UEM Sunrise busy next year

Telecommunications

U Mobile hopes to close gap with rivals on 3G and LTE network coverage

ASIA

Aviation

Carriers could end up losing money from sudden drop in crude-oil prices

Technology

Xiaomi’s model for selling to planet’s billions

Kingsoft, BabyBus among some of founder's most successful investments

Wealth

Banking tycoons Budi and Michael Hartono are richest Indonesians

Matrimonial manoeuvres are commonplace

Forbes list

AUSTRALIA

Intellectual property

Apple unable to register ‘app store’ trademark

Real estate

GST payable by new lessor even where they did not enter into the lease with lessee

CANADA

Civil procedure

Courts starting to accept service of documents via social media as sole method of alternative service

Employment

Employer able to rely upon confidentiality obligations when departing staff wrongfully diverted confidential info

Mergers and acquisitions

Conditional approval for Burger King’s takeover of Tim Hortons

EUROPE

Autos

VW’s decision to hike investment exasperates investors

Corporate

Sole heir to Heineken fortune (and controlling shareholder) opens up about remarkable journey

SINGAPORE

Healthcare

IHH’s strategy for becoming a global player

Media

Singapore Press Holdings’ efforts to build up digital media bearing fruit

Mergers and acquisitions

Olam International acquires US peanut sheller McCleskey Mills

UK

Contract

No contract between business partners and finance house had been completed

Real estate

Qatari fund and Brookfield up joint bid for owner of London’s Canary Wharf

US

Antitrust

Deutsche Bahn unit DB Schenker files lawsuits against 15 airlines

Banks

JPMorgan retains crown as top performing investment bank

Thursday
Dec042014

4 December 2014, Thursday

Autos

Police leaving it up to Honda and Takata to inform public of faulty air bags

Capital markets

Qualitas Healthcare reveals plans for IPO next year

Education

UTM only local institution among top 100 varsities in emerging economies for 2015

Energy

1MDB meeting next month with cornerstone investors for IPO of power business

1MDB Energy Group changing name to Edra Global Energy

Graft

Malaysia fares marginally better in TI’s Corruption Perceptions Index 2014

Islamic finance

MAHB’s perpetual notes first in the nation to have a credit rating

PMB Investment now an Islamic fund management company

Plantations

Sime Darby to acquire New Britain Palm Oil

Kulim seeks local partner for upstream O&G business ventures

Property

Berjaya Land to issue RM650 million 10-year debt notes

Magna Prima’s ‘Iconic Towers’ postponed as focus shifts to Desa Mentari and Magna Ecocity

Putrajaya considers exempting high-rise residential management bodies from GST

Penang developers taking ‘wait-and-see’ approach on rollout of new projects

Takaful

Takaful Ikhlas says full-year target achievable

Transport

Uber can continue operations

Utilities

Yeoh family tightening grip on YTL Power International

ASIA

Construction

India relaxes FDI rules to attract more money for new hotels, housing and township

Insurance

Tokio Marine will use Thai unit to expand into Myanmar, Cambodia and Laos

Islamic finance

Indonesia plans rules for Islamic repo agreements

AUSTRALIA

Aviation

Jetstar appoints first female chief pilot in Australian aviation

Capital markets

First IPO in medicinal marijuana company is oversubscribed

Employment

IBM Australia loses unfair dismissal case

CANADA

Employment

Notice of termination to employees when there is a sale of business

Recruitment of country manager from secure position contributed to long notice period awarded

First wrongful dismissal dealing with termination for Twitter and Facebook comments

Oil and gas

Petronas joins BG Group in pushing back plans for LNG terminal in Canada

EUROPE

Competition

Lafarge, Holcim set to win approval to create world’s biggest cement maker

Oil and gas

Eni’s plans for major asset sales run into problems

GLOBAL

Graft

Denmark rated least corrupt country for third successive year

Islamic finance

Sukuk market’s dynamics could start to change next year

SINGAPORE

Administrative law

Former NUS professor loses bid to reinstate residency status

Capital markets

Critics of SGX boss have more ammo to press for leadership change

Universal Terminal’s business trust IPO now targeted for before Chinese New Year

Technology

Japanese telecoms giant SoftBank is top investor in GrabTaxi

UK

Property

London borough of Kensington and Chelsea first local authority to outlaw ‘iceberg homes’

Sport

Ex-CEO of drinks giant Diageo could take steering wheel at F1

US

Autos

Latest disclosure could open Takata to more intense scrutiny

Real estate

Tech titan Google expands presence in Los Angeles

Wednesday
Dec032014

3 December 2014, Wednesday

Airlines

NUFAM claims proposed MAS Act violates employment and trade union laws

Capital markets

Asian Healthcare Group plans to raise up to RM750 million with SPAC

Prospectus

Kenanga IB remisier fined RM50k and suspended six months

Dispute resolution

Port Klang Authority has until Monday to settle RM720 million suit against Kuala Dimensi

Insurance

Pacific Insurance to acquire general insurance business of MCIS

Oil and gas

Companies that have secured contracts should be able to weather slowdown

TH Heavy Engineering laying off staff

Real estate

Hap Seng launching two projects in Klang Valley next year

Launch of Skycity in Kota Kinabalu slated for Q2 2015

Land belonging to French embassy to be sold via exclusive tender next week

Benalec subsidiary disposes of reclaimed leasehold land in Malacca for RM72 million cash

Tax

IRB Public Ruling No 8/2014: Basis Period of a Company, Limited Liability Partnership, Trust Body and Co-operative Society

Tort

RM12 million suit filed against Social Care Foundation chairman

ASIA

Airlines

AirAsia Indonesia starting Lombok-Singapore and Surakarta-Singapore services in January

Mergers and acquisitions

Worries about local protectionism, regulatory issues a drag on inbound M&A

AUSTRALIA

Intellectual property

Vittoria Coffee can trademark ‘oro’ and ‘cinque stelle’ for premium coffee

Postal services

SingPost buys Australian small-parcel business

GLOBAL

Banks

New era of regulation

Islamic finance

Shariah banking risks missing opportunity to build global footprint

Demand for Sukuk expected to stay solid

IIFM developing contract templates for Shariah-compliant corporate finance and trade finance

SINGAPORE

Capital markets

Software problem delays start of securities market trading

Economy

Long-term IDRs affirmed at ‘AAA’

Real estate

S-REITs operating in healthcare should continue to benefit from robust demand

Boustead Singapore may spin off real estate solutions business

UK

Insurance

Aviva buying Friends Life for £5.6 billion in stock

Islamic finance

European Islamic Investment Bank delays capital reduction plan

Oil and gas

US$6 billion Tullow could be vulnerable to approach by larger O&G producer

US

Autos

Promotions, low interest rates drove US sales higher in November

Real estate

25% of One57’s units still unsold

Singapore’s GIC now a major owner of warehouses and distribution centres in US

Industrial market still faces challenges

Technology

IBM seeing new wave of major outsourcing deals from Europe

Tuesday
Dec022014

2 December 2014, Tuesday

Airlines

Malaysia Airlines, Putrajaya must file defence to MH370 lawsuit by mid-December

Airline’s continuing struggles overshadowed by inconsequential stories

AirAsia X re-opening KL-London route by end-2015

Capital markets

O&G stocks take a beating

Value of tycoons’ shareholding cut by almost half

Malaysia Pacific Corp now a PN17 company

External auditors BDO express disclaimer opinion

Land

Federal Court seeking A-G’s advice on assessors deciding compensation in land acquisitions

Oil and gas

Low oil prices could put a spanner in the works of Malaysia’s budget deficit and the ringgit

Property

Gamuda acquiring 104ha in Kuala Langat, Selangor for RM392 million

Henry Butcher’s international residential project sales business sold to JLL

1MDB Real Estate yet to reveal number of companies, investment TRX has attracted

Technology

MOL Global CFO quit for personal reasons

Tort

RM100 million suit against former IGP withdrawn

Badminton world No 1 sues Razif Sidek

ASIA

Airlines

Airlines hold off from hedging fuel costs in hopes of oil dipping below US$70 a barrel

Gaming

Hong Kong’s Chow Tai Fook ready to invest in Vietnam casino project

Property

Dalian Wanda unit receives go-ahead for Hong Kong IPO

CANADA

Banks

Big Six embrace new technologies to reach younger clients

Employment

Information gleaned post-dismissal can still be used to employer’s advantage

Firefighter disciplined for inappropriate Twitter comments

Insurance

Zurich Insurance granted leave to appeal ruling on auto insurance claim

EUROPE

Aviation

Wreckage of MH17 to be reassembled for investigation

Mergers and acquisitions

Decision on who wins Club Méditerranée delayed another two weeks

SINGAPORE

Investment

GIC joins Bain Capital as founding shareholder in Virgin Cruises

Oil and gas

Offshore drillers getting enquiries to stack rigs

UK

Accountancy

Ernst & Young granted licence to provide legal services in England and Wales

Banks

Barclays to introduce ‘video banking’ service next Monday

Mergers and acquisitions

Balfour Beatty could be broken up

£1 billion bid seems a bit low

Tax

Coffee chain Starbucks makes final £5 million payment

US

Entertainment

Dalian Wanda interested in buying control of film studio Lions Gate

Technology

Apple going to trial in third major antitrust lawsuit since co-founder’s death

Monday
Dec012014

1 December 2014, Monday

Airlines

Worst quarterly loss for Malaysia Airlines since late 2011

Announcement on leadership of Malaysia Airlines Bhd end-December

MAB expected to achieve profitability by end-2017

Firefly expanding fleet size and workforce

Competition

MyCC needs to apply new guidelines on penalties and leniency carefully

Earnings

Sime Darby’s Q1 profit rises on gains at plantation, motors and property businesses

Sime Darby may list auto business in July or August 2015

Franchising

Home-grown Marrybrown looking to enter Europe

A&W opening six new outlets; PJ drive-thru to relocate during construction of KUB towers

Infrastructure

Malaysian companies drilling their way into Bangladesh

Insurance

AmGeneral Insurance legally liable for car lent to senior director

Manufacturing

Ann Joo banking on Asean Economic Community to expand business presence abroad

Oil and gas

Petronas’ Q3 profit down on weakness in oil prices, US dollar and LNG sales

Final investment decision on Canadian LNG project by end-December

SapuraKencana Petroleum working its way back into SC list of Shariah-compliant securities

Property

E&O, Tambun Indah planning new affordable properties in prime Penang locations

Number of residential property transactions in Penang down in H1

Eastern & Oriental’s Q2 revenue increases to RM77 million

Developers in Iskandar Malaysia anticipating tough year ahead

Retail

Rising cost of living, concerns over GST affecting buyer sentiment

Technology

Mesiniaga optimistic of return to profitability in FY15

ASIA

Autos

Takata boss shows little sense of crisis engulfing air bag maker

Capital markets

Large number of flagging IPOs a far cry from early days of HK listings by Chinese companies

Economy

Plunging oil prices will boost economic activity in Asia

AUSTRALIA

Franchising

Fitness chain Jetts club on the verge of cracking European market

Intellectual property

AussieMite and OzEmite brands still at loggerheads

EUROPE

Mergers and acquisitions

Fosun set to raise bid for Club Med to trump Italian tycoon

Utilities

Germany’s E.ON to split in two

SINGAPORE

Intellectual property

HC rules in favour of Petra Foods

Real estate

CityDev, Keppel Land and Pontiac Land among developers looking abroad

UK

Banks

‘Challenger’ banks may have to merge to compete against RBS, HSBC, Lloyds and Barclays

Telecommunications

BT’s attempts to buy its way back into mobile-phone market may spark takeovers

Wave of consolidation could help ease competition in crowded UK market

US

Consumer goods

Procter & Gamble, Goldman Sachs explore sale of Wella hair care business

Pharmaceuticals

GlaxoSmithKline cutting hundreds of jobs in US