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Daily News

 

Tuesday
May102016

10 May 2016, Tuesday

Administrative law

Best Oracle fails to obtain leave for judicial review in relation to winding-up of CLIQ Energy

Aviation

AirAsia’s goal is to create one holding company

Higher load factor in Q1

Malaysia Airlines revamping economy class menu for short- and long-haul flights

Is Malaysia Airlines on right route for ‘true turnaround’?

Black box found in Somalia not from ill-fated MH370

Capital markets

Khazanah Nasional may pare stakes in Tenaga Nasional, IHH Healthcare and Axiata

Stockbroker and fund manager KAF-Seagroatt & Campbell reprimanded

Chew Bros acquires 51.63% stake in Lysaght

GN3 company Wintoni suspended after failing to submit annual report within stipulated time

Constitutional law

National Registration Department withdraws appeal

Earnings

Petronas Gas’ Q1 profit lower due to higher tax expenses

Marginal decline in Petronas Chemicals’ Q1 profit

Environment

Roundtable for Sustainable Palm Oil served with lawsuit by Malaysian palm oil producer IOI

Investment

1MDB faces another coupon payment tomorrow

Alvarez & Marsal Asia, DF King to carry out bondholder identification and registration process

Islamic finance

Malaysia overtakes Iran as global leader

Islamic banks here show greater growth stability, better asset quality than Indonesian counterparts

Labour

Employers can soon hire foreign workers, but must prove essential to their business

Logistics

MISC divests logistics business for RM358 million

Management

KL Prima Consult chairman, Zulu Capital principal/director join MRT Corp board of directors

Oil and gas

Investors should avoid fabricators, vessel or rig players ahead of Petronas’ Q1 results

Petronas-PetroVietnam PSC extended until 2027

Property

Eco World back for more funds

Kerjaya Prospek set to win RM300 million contract related to BCB’s Elysia Park Residence in Johor

Sunsuria partnering Taiwan-based Welcome Global on mixed development project in Selangor

Oakwood Hotel & Residence, formerly Nomad SuCasa Hotel, opening in September

Takaful

Bank Rakyat, Takaful Ikhlas sign strategic partnership agreement

Tax

Ncell makes unusual move of depositing advance tax on behalf of former owners

Utilities

Tenaga Nasional acquiring 30% of GMR Energy’s select portfolio of assets

ASIA

Autos

Mitsubishi Motors could be stuck in limbo for next few months

Intellectual property

US social networking company Facebook wins rare trademark victory against local firm in China

Telecommunications

XL Axiata sets price of rights issue

AUSTRALIA

Insurance

QBE’s former problem child now one of its strongest growth opportunities

Islamic finance

Government proposes removing tax barriers to asset-backed financing arrangements

GLOBAL

Mergers and acquisitions

Consolidation likely in most mature categories like soda beverages, processed and frozen foods

Technology

Global market for commercial applications of drone tech could hit US$127 billion by 2020

SINGAPORE

Earnings

BreadTalk’s Q1 profit up 22% y-o-y

Property

Frasers Centrepoint reports lower earnings

UK

Construction

Workers ‘blacklisted’ by construction firms awarded £10 million in compensation under a settlement

Property

18ft x 35ft plot sold for £466k

US

Mergers and acquisitions

Wealthy Reimanns gobble up Krispy Kreme for US$1.35 billion

Doughnut chain may prove too appetising for others to pass up without a fight

Cancer drug maker Medivation explores sale following Sanofi’s acquisition offer

Tax

Panama Papers database goes live; ICIJ putting info online ‘in the public interest’

Travel

Miami hit by too much hotel supply and not enough demand

Monday
May092016

9 May 2016, Monday

Autos

New generation Hilux and Fortuner seen to boost UMW Toyota’s sales target

Capital markets

MAA could see light at end of tunnel from disposal of MAA Takaful

Potential transaction won’t affect existing Takaful contracts of certificate holders

Bright prospects for F&B stocks

R&A Telecommunication issues annual report in nick of time

Ire-Tex reprimanded

Construction

Hock Seng Lee tenders for additional RM500 million worth of projects

Earnings

Unimech expects 40% rise in current-year profit, restructuring subsidiaries to improve profitability

Healthcare

Oriental Holdings bullish on outlook for segment

State Development Corporation of Selangor unit investing RM600 million in five new hospitals

Investment

Employees Provident Fund’s investment assets have tripled over past 15 years

Retirement adequacy still a huge problem

Manufacturing

Hiap Teck expecting things to look up

Media

Media Prima may not join digital terrestrial TV bandwagon

Oil and gas

Tanjung Offshore looking to venture into upstream oil fields in other SE Asian countries, Australia

Property

Bintulu Paragon set become new buzzword in live, work and play experience

Iskandar Malaysia poised to be one of world’s fastest-growing economic regions next decade

Launch of Setia Eco Templer sets course for SP Setia on rebranding exercise

Newly appointed CEO of TA Global to beef up international assets

Telecommunications

TM ‘serious contender’ in local mobile telecoms sphere following rebranding of P1

Maxis CEO not done with transforming it into digital company

Operating landscape remains challenging

ASIA

Autos

Honda recalling additional 20 million Takata air bags globally

Insurance

India’s ICICI Prudential, HDFC Standard looking to raise over US$1 billion in sector’s first IPOs

AUSTRALIA

Banks

Alleged fraud another headache for major banks

Media

Fairfax downplays speculation it will offload New Zealand business

SINGAPORE

Banks

DBS, OCBC and UOB exploring registry for anti-money laundering

Insurance

Former AIA agent pleads guilty for second time to defrauding elderly couple

Logistics

Chinese conglomerate HNA in talks buy controlling stake in CWT

Real estate

Work underway for Frasers Centrepoint to spin off some Australian assets into REIT

Developers cool towards government stance to keep property cooling measures in place

Wing Tai’s Q3 profit down 27%

UK

Employment

Former employee of software giant Wipro wins sex discrimination case

Graft

Anti-bribery laws aren’t having enough of an effect

Friday
May062016

6 May 2016, Friday

Airlines

AirAsia said to be studying merger of two subsidiaries

Capital markets

R&A Telecommunication could be suspended next week

Construction

Vivocom bags second contract in Perak, this time for RM160 million

Earnings

Texchem Resources expects challenging business environment for 2016

Three-A anticipates satisfactory FY16

Wing Tai records loss

Financial services

Singapore-based GoBear, aspiring to be ‘TripAdvisor for finance’, launches Malaysia website

Malaysia Building Society ramping up efforts to become full-fledged financial institution

Gaming

Criminal Investigations Department wants to put illegal 4D bookies out of business for good

Healthcare

Khazanah Nasional, Mitsui take up combined 40% stake in DaVita-led JV on kidney care services

Intellectual property

Lesser-known types of IP rights

Islamic capital market

AAA-rated Islamic Development Bank returning to Malaysian Sukuk market

Management

DRB-Hicom MD is new Proton chairman

Manufacturing

Lion subsidiary Megasteel granted three-month restraining order against creditors

Oil and gas

Consolidation, if it does happen, will be on small scale

Another round of job cuts likely

Property

DRB-Hicom aborts sale of Corwin, owner of The Verge mall in Singapore

MWE looking to sell leasehold lands, stake in golf & country club to Newfields Land units

Expect prices in KL’s Taman Tun Dr Ismail and Bangsar to rise further

Research on potential buy now more critical than ever

Technology

Globetronics hopes things will look up in H2

Utilities

Tenaga Nasional, Pengerang Power ink PPA

ASIA

Autos

Germany’s Borgward, which hasn’t built a car since 1961, courting Chinese buyers

Capital markets

Companies reluctant to wait in long China IPO queue acquire taste for RTOs

JPMorgan Chase’s reputation dealt a blow

Insurance

Manulife’s core earnings up 14%, seeks new partners in Asia

Technology

Huawei eyeing 15% market share in South Pacific region

AUSTRALIA

Banks

Reserve Bank of Australia will have a new governor in September

Record result for Macquarie

CEO on track to become nation’s highest-paid listed company boss

Insurance

Insured failed to establish right to indemnification under policy

SINGAPORE

Management

Singtel chairman takes on added responsibility of heading SingPost board

Property

Oxley's Q3 earnings quadruple

Developer on lookout for opportunities in East London and Europe

Telecommunications

New MVNO Circles.Life betting on attracting digitally savvy customers

Analysts unsure Circles.Life has a fighting chance

StarHub’s Q1 profit up 26% despite lower revenue

UK

Capital markets

Luxury chocolate retailer Hotel Chocolat raises £55.5 million through AIM listing

Pharmaceuticals

GlaxoSmithKline focusing on boosting performance of consumer division

Real estate

Malaysia’s Lembaga Tabung Haji selling London HQ of law firm King & Wood Mallesons

‘Bank of Mom and Dad’ facing funding crisis

US

Arbitration

New York is top US venue, fifth most popular in the world for international arbitration

Gaming

Genting clears key hurdle in efforts to break into Las Vegas market

Mergers and acquisitions

M&A withdrawals cost investment banks US$1 billion in potential fees

Real estate

Relative bargains in horse-centric properties still possible

Thursday
May052016

5 May 2016, Thursday

Airlines

Newly appointed Malaysia Airlines ED confident problems plaguing airline can be fixed

Carrier collaborating with Amadeus on new passenger service system

Earnings

Daibochi Plastic and Packaging’s Q1 profit up 5%

Financial services

Montpelier closes KL office, transfers client business to Labuan-regulated Three Sixty Financial

Food and beverage

Fraser & Neave’s Q2 profit up 28.5% on higher sales, better product mix

F&N beefing up capacity in Malaysia

Infrastructure

96 companies shortlisted for various jobs on RM9 billion LRT 3 project

Investment

Finance ministry to dissolve 1MDB board of advisers

Ownership of Bandar Malaysia, TRX City, Air Itam land and Pulau Indah land transferred to MoF

Islamic finance

Malaysia spearheading establishment of world’s first Islamic venture capital

Manufacturing

Chin Well anticipates 10% decline in sales due to competition from China

Property

Kimlun wins RM166 million contract in Selangor

Takaful

MAA Takaful sold to Zurich Insurance

Technology

Facebook opens local office

Telecommunications

DiGi introduces Internet-sharing feature

Loss-making R&A to acquire Sumatec’s 49% stake in shipping firm as part of regularisation plan

Tort

Minister’s suit against Malaysiakini and reporter to be heard in August

ASIA

Intellectual property

Little-known accessories maker Xintong Tiandi can use ‘iphone’ label on luxury leather goods

Real estate

Change is coming — and fast — to Bangkok’s Chinatown

Technology

India forbids refurbished iPhones

AUSTRALIA

Competition

ACCC clears AB Inbev’s planned takeover of rival SABMiller

Company’s conduct offshore can still potentially open it to scrutiny by Australian authorities

Employment

Qantas pilot sacked for serious misconduct loses bid to have dismissal reviewed

CANADA

Competition

Volkswagen, Audi under probe

Tort

Monetary compensation in response to potentially devastating impact of online defamation

Decision

EUROPE

Autos

Volvo banking on investment plan to secure firm foothold in premium market

Oil and gas

Shell’s Q1 profit beats estimates

Shipping

Maersk’s Q1 revenue down almost 20%

Tobacco

Philip Morris, Imperial Brands and BAT lose legal challenge

SINGAPORE

Banks

HSBC’s most senior SE Asia dealmaker said to have left for European buyout firm CVC Capital

Investment

Temasek backs Singapore Diamond Investment Exchange

UK

Insurance

France’s Axa in talks to sell remaining UK life and savings assets

Mergers and acquisitions

Intercontinental Exchange won’t gatecrash London Stock Exchange-Deutsche Börse merger

US

Autos

US expands Takata recalls

Insurance

MetLife’s Q1 profit misses estimates

Real estate

Qatar in talks to buy luxury St Regis hotels in New York and San Francisco

Restaurants

Subway revenue down for second straight year

Tort

Second straight trial loss for Johnson & Johnson

J&J says claims contradicted by scientific evidence

Wednesday
May042016

4 May 2016, Wednesday

Banks

AmBank’s largest shareholder ANZ makes massive impairment charge

Capital markets

Kulim gets shareholders’ nod to delist

Trading of Maxwell, Multi Sports shares could be suspended

Dispute resolution

Former project director told to pay Ho Hup RM10 million

Earnings

Synthetic glove manufacturer Hartalega’s Q4 profit up 12%

Press Metal’s Q1 profit soars

Financial services

Employees Provident Fund helping Malaysia Building Society look at capital requirements

Investment

Investors in 1MDB, Bandar Malaysia notes not expected to call for acceleration of bonds

EPF says no notice of cross default on 1MDB’s RM5 billion Sukuk

Cash-rich EPF plans to increase long-term domestic investments

Islamic finance

OCBC Al-Amin saw strong growth in 2015

Management

Malakoff appoints new group MD

Oil and gas

Hibiscus Petroleum scraps plans to acquire Hydra Energy

Plantations

Felda withdraws certificates of environmental sustainability from 58 processing mills

Withdrawal of RSPO certificates could hit Felda’s earnings

Property

LBS Bina optimistic of achieving RM1 billion sales target

Developer hopes to transform Brinchang into vibrant township via Cameron Centrum project

Hong Kong-based Nan Fung disposing of several land parcels in Kuala Lumpur

ASIA

Banks

Hong Kong freezes bank accounts of unnamed individuals amid global probe into 1MDB

Investment

Major obstacles preventing more significant investment in ESG assets

AUSTRALIA

Employment

Limits on doing ‘whatever it takes’ to convince someone to work for you

Property

Blackstone could acquire five industrial buildings from Malaysia’s Sime Darby

EUROPE

Autos

BMW’s Q1 profit slips as it grapples with mounting competition from Mercedes, Tesla

Banks

BNP Paribas profit beats expectations, but IB arm hit by volatile market conditions

UBS Q1 profit misses estimates

SINGAPORE

Corporate governance

SingPost director taken to task

Food and beverage

Sushi chain Sakae’s revenue hurt by weaker market sentiment, competitive local F&B sector

UK

Banks

HSBC’s cost-cutting measures starting to bear fruit

Retail

Insolvency Service to look into circumstances surrounding BHS’ slump into administration

US

Antitrust

Barclays, Credit Suisse, Deutsche Bank and RBS settle rate-rigging lawsuit

Cosmetics

Estée Lauder’s Q3 results hurt by declining fortunes of core skin care business

Millennials want products that provide more immediate results

Earnings

2016 might not be a total wash for corporate profits

Oil and gas

US oil industry not even halfway through wave of bankruptcies

Real estate

Ex-broker trying his hand at building lavish homes for the wealthy amid luxury-condo glut

4,730 sq ft five-bedroom condo with ocean views on the market for US$18.5 million