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Daily News

 

Thursday
Jan212016

21 January 2016, Thursday

Administrative law

Putrajaya files appeal to overturn ruling that declared arrest and detention of activist were illegal

Three weeks for Penang’s Line Clear operator to vacate premises

Beverages

Fraser & Neave spending RM300 million for capex

Gaming

Berjaya clinches 18-year contract in Vietnam

Investment

Khazanah Nasional among investors in Hong Kong-based fintech start-up WeLab

Legislation

Amended Communications and Multimedia Act 1998 will clarify powers to block websites

Facebook user fined RM14k for insulting Johor and Pahang rulers

Oil and gas

Petronas considering retrenchments

Bank Simpanan Nasional ‘notice’ on suspension of loans to O&G workers is fake

Offshore support vessel segment most vulnerable within value chain

SPAC shareholders may cash out

Plantations

Felda Global Ventures-Rajawali talks on Eagle High should conclude by March

Property

Encorp Bukit Katil named master developer of integrated township in Melaka

Fututech looking to diversify into piling works, wants to expand footprint overseas

Komtar revitalisation project should be completed in H2

Savills optimistic about retail property market

Trade

Trade bodies back Trans-Pacific Partnership Agreement ahead of Parliament debate, anti-TPP rally

ASIA

Banks

Barclays’ Asian operations hit hard in latest round of job cuts

Oil and gas

Energy companies sending expatriates home

Technology

Apple plans own stores in India

AUSTRALIA

Employment

When can employers draw the line against tattoos in workplace?

Oil and gas

Woodside flags US$1 billion in write-downs

Retail

Major department stores, specialist homewares retailers likely to buy Laura Ashley

EUROPE

Aviation

IAG, easyJet, Ryanair, Air France-KLM and Lufthansa launch Airlines for Europe

Banks

Deutsche Bank expects €2 billion loss for Q4

Insurance

Zurich issues second profit warning in four months, could prompt it to cut dividend

NEW ZEALAND

Dispute resolution

Singaporean retiree’s case against NZ ministry over pension benefits sent for mediation

Intellectual property

Auction website Trade Me seeks to block NZME from using ‘shopme’, ‘driveme’ and ‘propertyme’

Trade

TPPA to be signed 4 February

SINGAPORE

Earnings

Singapore Exchange’s Q2 profit down 3% on lower securities revenue

Investment

Temasek sets up European Advisory Panel

Real estate

More than 100 agencies shut, 3,573 agents have left industry

UK

Accounting

Financial Reporting Council interested in KPMG’s work on HBOS prior to Lloyds rescue

Employment

Immigration officer who took, but did not immediately report, bribe was fairly dismissed

Intellectual property

Nestlé to appeal High Court decision KitKat bars not distinctive enough to be trademarked

London black cab not that unique

Oil and gas

Shell’s Q4 profit could be halved

10,000 jobs to go

Norwegian SWF in favour of Shell-BG merger

US

Accounting

KPMG yanks decade of opinions on regulator of complex derivatives markets

Banks

Bank of China’s money-laundering controls found to be deficient

Healthcare

Johnson & Johnson cutting 3,000 jobs after tough year for bellwether

Mergers and acquisitions

Goldman Sachs not yet concerned about impact of declining oil prices, China’s slowing economy

Technology

Big companies, start-ups paying top dollar for independent software developers

Wednesday
Jan202016

20 January 2016, Wednesday

Administrative law

Lot owners of Ampang Park Shopping Centre granted leave for judicial review

Autos

Perodua maintains prices

Banks

Bank Negara Malaysia completes probe into 1MDB

Legislation

Amended Child Act will include registry to track convicted sex offenders

Amendments to Land Acquisition Act 1960, Strata Title Act 1985 to be tabled in April

Oil and gas

Petronas could slash up to RM50 billion in expenses over next four years

Petronas looking at new business model

Property

Sime Darby plans more projects in Europe after success with Battersea

SKB Shutters in conditional SPA with PKNS to acquire leasehold industrial land in Selangor

Yong Tai not involved in luxury serviced apartment project in Jalan U-Thant, KL

Mad scramble for affordable homes on outskirts of Kota Kinabalu

BND Global Development in talks to expand in Kuala Lumpur

Tax

Guinness Anchor seeks fair resolution of RM56 million tax dispute with Customs

GST-registered company charged for not issuing tax invoice when making tax provision

IRB Public Ruling No 1/2016: Agriculture Allowances

Trade

Challenging year for export sector

ASIA

Corporate governance

Asian firms more willing to address environmental, social and governance issues

Tax

Philip Morris Thailand charged with under-reporting value of imported cigarettes

Cairn Energy takes first formal steps in US$1.6 billion tax dispute with India

AUSTRALIA

Employment

Popular Malaysian restaurant ‘Mamak’ allegedly underpaid employees

More foreign workers organising themselves to combat underpayments

Former Winslow worker subjected to sexual harassment awarded A$1 million in damages

Media

Cleo Australia’s March issue to be its last; closure won’t affect Cleo Singapore, Malaysia or Indonesia

EUROPE

Autos

1957 Ferrari 335 S Spider Scaglietti could beat auction record next month

Commissioner demands details on VW cars affected by emissions scandal, compensation

Consumer goods

Unilever’s Q4 sales beat estimates, warns of ‘high volatility’ in 2016

Islamic finance

Austria’s BAWAG offering country’s first Shariah-compliant current account in February

SINGAPORE

Corporate governance

PwC to look into SingPost director’s interest in recent deals

Marine engineering

Sembcorp Marine could be rescued by parent

UK

Accountancy

Former KPMG partner charged with conspiracy to cheat tax authorities

Contract

Circumstances where termination could be justified on grounds not set out in termination notice

Insurance

Prudential first British insurer to disclose capital strength under Solvency II, appoints UK head

US

Real estate

MetLife, pension fund form venture

Technology

IBM continues to struggle; company faces more competition, possible price war in legacy IT services

Tuesday
Jan192016

19 January 2016, Tuesday

Administrative law

Muslim scholar and activist to learn his fate next month

Autos

Proton replacing CamPro engines

Problem is in public perception

Banks

CIMB cuts a quarter of Hong Kong workforce

No more layoffs in Malaysia, Indonesia

Capital markets

Sentencing for ‘Repco Low’ deferred to Friday

Civil procedure

Ramli brothers’ appeal against High Court judgment in favour of Celcom Axiata unit dismissed

Energy

Dagang NeXchange takes first step into waste-to-energy sector

Graft

Investigation papers on SRC, RM2.6 billion in PM’s accounts sent back to MACC

Islamic finance

Malaysia Building Society-Bank Muamalat merger talks wrap up next month

Cahya Mata Sarawak planning RM1 billion Sukuk Ijarah

Oil and gas

Petroleum engineering students brace for joblessness

Property

Acoustech sells Klang asset to Full Sprint under sale and lease back arrangement

First phase of Bukit Bintang City Centre project launched by Q2

Two banks funding AmFirst REIT’s acquisition of Penang land

Hyde Tower unveiled next month

Tort

High Court to hear senior lawyer’s defamation suit against Malaysian Bar tomorrow

Penang CM withdraws defamation suit against Temerloh MP

Trade

Malaysia less attractive to MNCs if not a signatory to Trans-Pacific Partnership Agreement

Labour, IP rights among 26 laws to be reviewed

ASIA

Capital markets

China Securities Regulatory Commission denies report on embattled head resigning

Key problem with China not lack of top-down guidance but way it is dispensed

Islamic capital market

Asian issuers lead promising start to 2016

AUSTRALIA

Banks

Profit growth likely to slow

Construction

Binding contract had been agreed

Decision

Sport

World tennis rocked by allegations of match-fixing as first grand slam tournament kicks off

EUROPE

Antitrust

Outcome of Brussels hearing could have impact on access to video online

Data protection

EU, US racing to meet deadline on new commercial data-sharing pact

Property

Tuscan villa that once belonged to Michelangelo listed for sale at over US$8 million

SINGAPORE

Banks

Hard-pressed to improve NPL ratios

Property

Starwood Capital, Fosun weighing bids for hotel owner Ascendas Hospitality Trust

UK

Aviation

British Airways parent sees opportunities for more takeovers, looking at leasing used Boeing 777s

Banks

Lawyers claim Deutsche Bank used high-speed trading software to profit at clients’ expense

HSBC should probably first decide what, before where, it wants to be

National Australia Bank values UK unit Clydesdale

Monday
Jan182016

18 January 2016, Monday

Airlines

How Malaysia Airlines CEO is charting its flight path

Capital markets

Bankers predicting as many as 20 IPOs

Securities Commission Malaysia concerned over Nexgram disposal of subsidiaries

SC statement

Earnings

DBE Gurney should be back in the black in FY16

Insurance

Growth dragged by personal insurance, residential property sectors

Islamic wealth management

Labuan IBFC regarded as leading Islamic wealth management provider

Judiciary

Judges must be proficient in English and Bahasa Malaysia to produce quality written judgments

Manufacturing

Sarawak Cable looking to sell loss-making Aerial Power Lines

Property

Ho Hup cautious on project launches in Kota Kinabalu, Sabah and Bukit Jalil

Swiss-Garden banking on Iskandar Malaysia to attract corporate clients for Swiss-Inn Johor Baru

Market to be more subdued in 2016

Strong demand for properties around Bukit Bintang and Bukit Ceylon

Mah Sing’s MSC Tower in Icon City open for lease

ASIA

Banks

Asian Infrastructure Investment Bank launched, to start operations in Q2

AIIB will have special compliance-and-integrity unit

Economy

Several headwinds threaten to derail Asia Pacific’s growth prospects

AUSTRALIA

Employment

Sacked Allergan salesman not given opportunity to properly respond to allegations of misconduct

Retail

Blackmores-Bega Cheese partnership offers ‘cow-to-customer’ guarantee of supply

EUROPE

Competition

EU interested in Internet companies’ control of vast quantities of data

Conditional approval for can maker Ball’s planned £4 billion purchase of Rexam

Tax

Apple could owe more than US$8 billion in back taxes

GLOBAL

Corporate governance

Companies subject to IFRS must report all leases as assets and liabilities from 2019

Oil and gas

Number of job vacancies down by more than half, downturn shows little sign of abating

SINGAPORE

Capital markets

Dealmakers holding out hope for decent haul of listings, possibly in REITs, healthcare and tech

Earnings

Upcoming results could leave investors underwhelmed

Marine engineering

Analysts predicting further profit declines for Keppel, Sembcorp Marine

Property

Keppel REIT sells Sydney office building for A$160 million

Technology

Infocomm Development Authority, Media Development Authority to reorganise

UK

Competition

BT’s contentious takeover of EE approved

Real estate

Denmark’s ATP acquires London hotels in JV with AXA

US

Banks

Lenders walk tightrope between helping O&G clients stay afloat and watching bottom line

JPMorgan Chase’s Q4 profits up 9%

Media

Netflix will need to keep up subscriber growth to offset ballooning content obligations

Friday
Jan152016

15 January 2016, Friday

Autos

Sales in 2016 projected to drop; Japanese brand Honda could overtake Proton

Proton hoping for transformational year

Proton-Suzuki Malaysia to roll out joint product before end-2016

No change in price of Toyota Camry Hybrid

Aviation

Malaysia Airports plans aggressive campaign to overcome tough market conditions

Malindo may shift to KLIA

Constitutional law

Hindu mum ready to take challenge against children’s conversion to Islam to Federal Court

Investment

MIDA confident can maintain momentum in investments flowing in

Islamic finance

Bank Islam expects slower growth

Logistics

Nexgram acquires controlling stake in Transeaways Shipping; founder and CEO quits

Oil and gas

SapuraKencana subsidiaries bag contracts with combined value of RM500 million

Real estate

MREITs may step up acquisitions

Ewein subsidiary buys 50 acres in Penang for proposed ‘Wellness City of Dreams’ resort

Pavilion REIT’s Q4 profit up on higher net property income

Technology

Permodalan Nasional outsources IT services to associate company HeiTech Padu

Travel

KTM offering 12 new daily ETS services starting Monday

ASIA

Banks

Mitsubishi UFJ invests in Philippine lender

Capital markets

China’s new rules allow investors to seek compensation immediately for botched IPO

Telecommunications

Huge interest in XL Axiata’s towers

AUSTRALIA

Banks

ANZ probes sacked traders’ allegations of toxic culture within senior ranks of global markets unit

Construction

Contractors liable for late completion even if rate for liquidated damages was ‘$Nil’, ‘N/A’ or ‘Zero’

EUROPE

Autos

Renault’s shares down on fears could face own emissions scandal similar to VW’s ‘dieselgate’

Earnings

Swiss chocolate maker Lindt & Spruengli’s 2015 sales fall short of forecast

Oil and gas

Norway’s Statoil takes up 12% stake in Sweden’s Lundin

SINGAPORE

Property

Manager of Cambridge Industrial Trust eyeing Singapore, Australia and Japan

Technology

GrabTaxi founder/CEO reckons being local will give start-up the edge in Asia

UK

Banks

Santander UK intensifying plans to bid for more than 300 Royal Bank of Scotland branches

Property

Countryside Properties plans £114 million IPO; listing expected in February

Linklaters and Ashurst advising Countryside

Retail

Struggling Tesco’s turnaround starting to pay off

No one should underestimate trolley full of challenges ‘Drastic’ Dave still faces

US

Banks

Goldman Sachs settles claims over faulty mortgage securities to investors

Property

Government’s decision to start scrutinising all-cash buyers is more bad news