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Daily News

 

Monday
Aug182014

18 August 2014, Monday

Airlines

Attorney-General’s Chambers, Wisma Putra looking at legal aspects to seek justice for MH17

Long ‘to-do’ list for team tasked with restructuring Malaysia Airlines

Autos

Government spending more on fuel subsidies as vehicle ownership increases

Press Metal sees bright prospects in lucrative aluminium automotive parts segment

Proton, Modenas lining up new models

Capital markets

Chemara Palmea aims to be first plantation-based SPAC

Prospectus

E-commerce

Catcha launching first video on demand service in SE Asia and MidEast by Q1 2015

Education

Johns Hopkins ends partnership with Pugsom; frequent late payments behind pullout

Insurance

Commission structure for life insurance agents could be revised

Central bank best body to help regulate local industry

Islamic finance

Royal Award will be presented on 2 September

Legal services

Bon Advocates drops fz, now representing Selangor MB in case against The Malaysian Insider

Lawyers for Liberty says debate over cab-rank rule a diversion

No violation of ethical principles

Manufacturing

Employees Provident Fund’s move to increase stake in Supermax a shrewd one

Oil and gas

Tamarind Energy making Malaysia its home base

Plantations

Kuala Kepong, Genting Plantations may be significantly affected by Indonesian plan

Property

Further cooling measures unlikely

Trinity launching condo project in Q4; planning Mont Kiara project

Retail

Asia Brands closing unprofitable stores, intends to be Shariah compliant

Social media

Tech writer fined RM10,000 for offensive tweets against king

Telecommunications

Listing transfer to Main Market important phase for REDtone

ASIA

Antitrust

Daimler division Mercedes-Benz guilty of manipulating prices of after-sales services

Insurance

Foreign reinsurers keen to set up or expand in Asia-Pacific

Plantations

Indonesia wants to restrict foreign ownership to 30%

AUSTRALIA

Airlines

Qantas’ further update on cost-cutting, full-year results expected next Thursday

Banks

National Australia Bank’s Q3 profit up 7%, but UK business weighing on its performance

Employment

‘Workplace’ does not necessarily just mean the office when it comes to sexual harassment

Oil and gas

Apache claims to have found country’s largest oil deposit in last 30 years

Property

iProperty Group forced to write down A$4.6 million from Singapore business

Stockland warns of slower earnings growth

EUROPE

Energy

EU’s 131 nuclear reactors well past their prime

Transport

Bombardier, Hitachi frontrunners to buy Finmeccanica’s rail subsidiaries

SINGAPORE

Banks

OCBC share sale aimed at bolstering balance sheet following acquisition of Hong Kong lender

Legal profession

Singapore could soon have more lawyers than jobs for them all

UK

Mergers and acquisitions

US-based Blackstone and TPG close to securing takeover of Kensington

Sport

Financial health of Premier League has brought revenue windfall for clubs

Technology

Mobile developers worried best days of growth coming to an end

US

Financial regulation

Consulting firm PwC fined US$25 million for obscuring misconduct it was supposed to unearth

PwC watered down report on Bank of Tokyo-Mitsubishi’s dealings with Iran

Intellectual property

Fictional software brand in The Dark Knight Rises doesn’t infringe trademark of Fortres Grand

Media

Former US VP sues Al Jazeera for breach of contract, seeks undisclosed damages

Real estate

Sultan of Brunei offers US$2 billion for Plaza Hotel, Dream Hotel and London’s Grosvenor House

Technology

Culture, vision of paramount importance to big tech companies looking to grow via acquisitions

Friday
Aug152014

15 August 2014, Friday

Airlines

22 August national day of mourning for MH17 victims

Malaysia Airlines steward detained

Success of Khazanah’s new plan to overhaul MAS also hinges on latter’s employees

AirAsia’s financial results for Q2FY14 out Wednesday

AirAsia studying feasibility of Central Asia hub

Capital markets

Reach Energy IPO exceeds initial share sales by Sona Petroleum, Cliq Energy

Earnings

Malaysia Building Society’s Q2 profit up 41%

OSK Property’s strong Q2 profit attributed to construction progress for ongoing projects

Economy

GDP expansion likely to exceed central bank’s forecast range

Human rights

18-month study to serve as basis of National Human Rights Action Plan

Oil and gas

Petrovietnam bids for stake in Murphy Oil’s Malaysian assets

Property

Australia’s Walker in talks for further investments in Johor Bahru

KUB Malaysia submitting building development plans for office tower by year-end

Some affordable housing schemes, and criteria for eligibility

Tort

Astral Supreme sues former MD

AUSTRALIA

Banks

Macquarie compensating clients of wealth division who may have lost money due to bad advice

Competition

Clayton Utz’s ‘Dawn Raid’ app guides in-house lawyers on how to act

Aim is to make process of complying with search warrant easier

OmniBlend Australia allegedly attempted to engage in price fixing with competitor

Mergers and acquisitions

Dealmaking could reach highest level since 2007

Real estate

Foreign demand for Aussie bricks and mortar set to intensify for at least three years

EUROPE

Islamic finance

Lack of legal infrastructure, high-level government backing impeding industry’s growth in Russia

Overseas Islamic banks ready to invest if officials adapt local legislation

Mergers and acquisitions

Ardian, Fosun withdraw bid for Club Med, leaving way clear for Italian businessman

Technology

How CEO of Spain’s Let’s Gowex fooled employees, investors and regulators

SINGAPORE

Education

GIC buys into Brazil’s Abril Educacao

Employment

First Appeals Court decision on measure of damages that could be claimed for ‘constructive dismissal’

Gaming

Genting Singapore’s April-June EBITDA edges up 1%

Legal services

WongPartnership forges alliance with Indonesia’s Makes & Partners

UK

Accountancy

ICAEW is first non-legal entity with powers to regulate probate services and license ABSs

Construction

Carillion undeterred by Balfour Beatty’s earlier rejections

Thousands of jobs lost if Balfour’s construction arm significantly downsized

US

Autos

1962 Ferrari 250 GTO smashes record for most expensive car sold at auction

Oil and gas

Shell sells Wyoming and Louisiana gas fields

Mergers and acquisitions

Mergers can be very good for the shareholders of companies purchased

Thursday
Aug142014

14 August 2014, Thursday

Airlines

Minority Shareholder Watchdog Group backs privatisation of Malaysia Airlines

RM111k withdrawn from accounts of four MH370 passengers

Earnings

Multilevel marketing company Amway sees higher profit

Berjaya Assets’ Q4 profit soars

Boustead Heavy Industries’ Q2 profit up nearly 10%

Local government

Penang government has no jurisdiction to conduct elections

Oil and gas

CLIQ Energy shortlists assets for acquisition

Hibiscus Petroleum eyeing more licences in Norway

Perisai Petroleum’s Q2 profit plunges

Petronas’ Q2 profit up on stronger oil production and sales of LNG

Oil company in talks with potential buyers over stake in Canadian gas project

Property

Harvest Court faces new shareholder suit over June deal

Slip in rankings a cause for concern for iProperty Group

Abandoned Plaza Rakyat project in Kuala Lumpur revived next month with new developer

Telecommunications

Telekom Malaysia’s resolve to once again be a wireless giant should have rivals concerned

Tort

Petaling Jaya MP drops defamation suit against Home Minister, Utusan Malaysia

ASIA

Airlines

Cathay Pacific’s H1 profit falls short of analysts’ expectations

Competition in India’s full-service sector heating up; Air India, Jet Airways bracing for Vistara

E-commerce

Potential investors wondering about future of Alibaba’s ties to online payments affiliate Alipay

AUSTRALIA

Employment

Casino not liable for croupier ‘falling asleep’ at the wheel after night shift

Gaming

Crown Resorts posts 66% rise in full-year profit

Telecommunications

Optus reports drop in revenue and profit

Telstra’s annual profit beats analyst estimates

EUROPE

Insurance

Finland’s Sampo raises profit forecast for property and casualty insurance arm, If

Mergers and acquisitions

Electrolux, Quirky in talks to buy General Electric’s century-old home appliance unit

SINGAPORE

Capital markets

Universal Terminal targets S$1 billion from IPO of units of business trust

Data protection

Personal Data Protection Commission investigating complaint on smartphone maker Xiaomi

Property

Restrictions make it more difficult to sell government housing and buy better private apartments

CityDev stepping up overseas expansion

Telecommunications

SingTel posts smallest profit in six quarters

UK

Oil and gas

Enquest plans more acquisitions in UK North Sea

Property

Future of London’s famed Claridge’s again up for grabs

Singapore’s UOL developing first European property under Pan Pacific brand in London

Land Securities’ half share in Bristol mall sold to AXA unit for £268 million

US

Airlines

Virgin America’s Q2 profit up significantly

Islamic finance

Investors more positive on Sukuk Ijarah than equity-based structures such as Musharakah

Wednesday
Aug132014

13 August 2014, Wednesday

Airlines

Malaysia Airlines could save substantial amount by ending contracts with suppliers

How much compensation payable for death of passengers on board MH17, and who pays?

Capital markets

CIMB, Deutsche Bank, Maybank and Morgan Stanley hired for Sime Darby listing of auto unit

Earnings

Nestlé Malaysia’s Q2 profit down 16%

Malaysia Smelting Corp’s Q2 losses widen

Economy

Investors piling into Malaysian stocks

Employment

No legal basis for ex-employees of Lembaga Tabung Haji to claim equality in gratuity payment

Islamic finance

AIBIM welcomes creation of mega Islamic bank

CIMB shareholders urged to be patient on terms of planned merger with RHBCap, MBSB

Legislation

Malaysia-US agreement on Foreign Accounts Tax Compliance Act by year-end

Management

Former YTL director tipped to become next CEO of MDeC

Oil and gas

PDZ Holdings should complete due diligence on O&G assets in Indonesia by September

Pharmaceuticals

Industry at crucial juncture to innovate itself

Property

Tracking solutions provider Grand-Flo hopes to generate 50% of revenue from new venture

Maintenance and management of low-cost property must be entrusted to local authorities

Telecommunications

TM R&D, Huawei co-developing access technologies for fixed-line and wireless connectivity

ASIA

Antitrust

Audi faces 1.8 billion yuan fine over allegations of monopolistic practice

Real estate

Wanda Commercial Properties and parent setting up JV to invest in Australia

AUSTRALIA

Employment

Melbourne business facing legal action after ignoring order to pay compensation to receptionist

Gaming

Echo Entertainment’s full-year net profit boosted by strong H2 and growth in VIP business

Intellectual property

Trademark battle emerges over ‘realestate.com.au’

SINGAPORE

Financial regulation

Monetary Authority of Singapore proposes to regulate credit bureaus

Insurance

Maybank’s Etiqa makes first foray into local life insurance market

Legal services

Dechert opens an office, its fourth in Asia

Mergers and acquisitions

CVC, GIC in talks over possible joint bids for assets of cement firms Holcim and Lafarge

Telecommunications

SingTel first telco to introduce mobile plans bundled with Wi-Fi

UK

Health

Philip Morris prepared to sue British government should it implement plain packaging law

Insurance

L&G abandoning Association of British Insurers

Prudential’s H1 profit climbs on higher US sales

Islamic finance

Gatehouse Bank joins peers in broadening scope

US

Gaming

Bankrupt Revel Casino Hotel in Atlantic City closing in September

Key moments in the history of Revel

Management

Darden Restaurants’ board vulnerable to key activist shareholder’s push for shake-up

Tuesday
Aug122014

12 August 2014, Tuesday

Airlines

Staff told to brace themselves for complete overhaul of Malaysia Airlines

Putrajaya must show appetite for difficult but necessary decisions

First report into what brought down MH17 ‘in a few weeks’

AirAsia launches Premium Flex, not embarking on any more IPOs

Capital markets

TA Securities dealer fined RM360k and struck off

Earnings

Alliance Financial’s Q1 profit down 5%

Energy

1MDB’s planned IPO of energy unit may be postponed to early 2015

Infrastructure

Taliworks sells 32% stake in Cerah Sama to Employees Provident Fund

Insurance

MPHB Capital awaits nod to dispose of 49% stake in Multi-Purpose Insurans

Islamic finance

Regulators working to reduce role of scholars

Property

BCorp sells palm oil plantation to Tagar Properties

Encorp aiming to be among country’s top 10 players

Telecommunications

TIME dotCom among investors in ‘FASTER’ cable network

Tort

Selangor MB files defamation suit against local news portal, The Malaysian Insider

Malaysian Insider’s response

ASIA

Airlines

Jet Airways closing Jetlite and JetKonnect businesses by December

Tata-SIA JV ‘Vistara’ hopes to take off in October

Technology

South Korea’s Samsung losing its shine for investors

AUSTRALIA

Banks

Maurice Blackburn files lawsuits against ANZ, Citibank and Westpac over late credit card fees

Employment

Accounts manager dismissed without reasonable notice awarded more than A$1 million

SINGAPORE

Economy

Republic benefiting from pick-up in global growth

Oil and gas

KrisEnergy buys out Chevron’s interest in Cambodia block

UK

Banks

Royal Bank of Scotland explores sale of Coutts

StanChart again under scrutiny, this time because of problematic monitoring system

Construction

Carillion snubbed… again

Employment

Employee’s illegal status does not preclude discrimination claim

Real estate

Norwegian fund expands portfolio

US

Employment

Company discriminated against female HR director

Financial services

Maintaining a branch in New York not a sufficient basis to assert personal jurisdiction over bank

Intellectual property

One-of-a-kind macaque ‘selfie’ not entitled to copyright protection

Photographer has limited recourse to prevent others from reproducing images

Investment

Online takeaway food delivery company foodpanda raises US$60 million