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Daily News

 

Wednesday
Feb112015

11 February 2015, Wednesday

Banks

Event of default triggered if 1MDB loan not settled next Wednesday

Nepal’s Himalayan Bank opens first representative office

Capital markets

Eligible issuer can raise up to RM3 million within 12 months under new crowdfunding guidelines

Guidelines

Criminal law

Former deputy PM returns to prison

Verdict won’t do much to change country’s political trajectory

Earnings

Fraser & Neave’s Q1 profit rises on better performance of dairies segment

Hartalega’s Q3 profit down 14%

Improved revenue attributed to weakening ringgit, slight rise in sales volume

Economy

Malaysia cannot ignore red flags

Franchising

Brahim’s rides to rescue of Burger King Malaysia and Singapore

Insurance

Rating prediction model included in PIDM’s Corporate Plan 2015-17

Islamic capital markets

Abu Dhabi Islamic Bank plans Malaysia Sukuk

Property

Paramount may divest some education facilities

Creador takes up minority stake in India-based Ashiana Housing

Takaful

Takaful Malaysia’s Q4 profit down 28%

Technology

Data hub ambition a pipe dream if energy, bandwidth costs can’t be contained

MDeC CEO eager to make an impact

ASIA

Arbitration

India amending law as it seeks to attract more foreign investment

Banks

Mitsubishi UFJ adding more outsiders to board of directors

Islamic finance

Pakistan publishes long-awaited rules for Sukuk

Technology

Seagate investing THB15 billion in Thailand

AUSTRALIA

Employment

Driver with methamphetamine in her system was fairly dismissed

Real estate

Tiny ‘granny flats’ latest craze in housing boom

CANADA

Capital markets

Goldman Sachs, JPMorgan Chase and BoA picked for David’s Tea IPO

Employment

Employee not entitled to disability benefits for convalescent period following abdominoplasty

Real estate

Colliers International splitting from parent FirstService

EUROPE

Aviation

Dutch release documents about aftermath of MH17 downing, albeit heavily censored

Banks

UBS under investigation over sale of certain securities that potentially violate US tax law

Technology

Japan’s Canon expands into video surveillance with Axis Communications buy

SINGAPORE

Banks

DBS boss has no interest in top job at StanChart

OCBC’s Q4 profit misses analysts’ estimates

Employment

Pharmacist breached duty of fidelity owed to former employer

UK

Intellectual property

Re-branding of drugs product justified for distributor to gain ‘effective access’ to UK market

Mergers and acquisitions

FTSE 250 company Telecity an attractive takeover target

Real estate

Strong price growth in prime central London

Competition for best office space in London intensifying

Sport

Sky, BT fork out £5 billion for English Premier League TV rights

Premier League gravy train shows no sign of fading

Ofcom assessing whether ‘collective selling’ of rights adheres to competition rules

US

Antitrust

Regulators request details on proposed Halliburton-Baker Hughes merger

Halliburton trimming 8% of workforce

Entertainment

Hasbro reaping handsome returns from licensing deals with major movie studios

Movie sequels should help toymaker close gap with rival Mattel

Food processing

Heinz adds new flavour to ketchup mix

Fiery Sriracha has catapulted from cult hit to flavour du jour

Technology

Apple first company to reach market value of US$700 billion

iPhone maker spending US$850 million on new solar facility

Tuesday
Feb102015

10 February 2015, Tuesday

Airlines

E-cigarettes only allowed in carry-on baggage on Malaysia Airlines

Autos

Perodua sees after-sales business contributing 25% to revenue by year-end

‘No discernible material change’ in car prices post-GST

Capital markets

EPF not yet approached to be cornerstone investor for listing of Edra Global Energy

Construction

Eversendai bags PKT Logistics contract to build warehouse in Penang

Contract

Penang’s Seh Tek Tong Cheah Kongsi under threat of being sealed in legal spat with developer

Earnings

Guinness Anchor’s H1 results exceed analysts’ expectations

Education

Dubai-based GEMS Education opening first school in Malaysia this September

Infrastructure

Construction of three toll-free highways in Penang could begin June 2016

Insurance

General insurance resilient, motor insurance continues to bleed

Investment

Employees Provident Fund aims to increase global investments to 26%

Oil and gas

Dialog’s Q2 profit higher on better margin registered by upstream activities

Petronas COO to succeed Shamsul from April

Director breaks silence over certain allegations at Tanjung Offshore

Property

Young wheeler-dealer with links to PM in the spotlight

Growth in Islamic home loans likely to slow as new GST dampens housing demand

Telecommunications

Focus on data business, improving mobile Internet experience pays off for DiGi

ASIA

Autos

Indonesians flabbergasted at appointment of little-known ACL as local partner for Proton JV

Banks

StanChart shifting retail bank’s focus to affluent customers

Healthcare

IHH, TPG Capital vying for controlling stake in India’s Global Hospitals

Retail

Thai billionaire building financial firepower for second attempt at Tesco Lotus

AUSTRALIA

Competition

RPM conduct authorised as public benefits would outweigh public detriments

Employment

Industrial activities not protected where conduct violates requirements of employment relationship

Franchising

Be careful when encouraging potential franchisees to sign up

EUROPE

Antitrust

EU decision on Aviva-Friends Life deal next month

Islamic finance

Russian banks seeking help from MidEast firms to develop expertise

GLOBAL

Economy

Attention shifts to large cash piles corporations have squirrelled away

World economy set to strengthen with US expansion ploughing ahead

Mergers and acquisitions

More major pharma deals likely, but tough UK rules would deter bids for British companies

SINGAPORE

Bankruptcy

KPMG, PwC working on collection of monies owed to OW Bunker Far East

Banks

DBS’s Q4 income misses estimates

Property

Keppel Land acquires freehold office building near London’s historic and financial centre

Retail

Parkson Retail Asia’s Q2 earnings down on losses at new stores

Technology

DMX Technologies’ CEO, CFO suspended following arrest

UK

Capital markets

Biotech company Cell Therapy raises record £691,000 via crowdfunding

Employment

Analyst delayed too long in bringing claim of constructive dismissal

Judgment

Retail

Tesco pursuing sale of majority stake in data unit rather than outright exit or flotation

US

Antitrust

Qualcomm pays record US$975 million fine to China

Chipmaker won’t challenge decision

Deutsche Bank’s electronic forex trading platform under scrutiny

Real estate

Purchasers of Time Warner units go to great lengths to conceal identities

Late comedian’s lavish apartment on the market for US$28 million

New York’s luxury Baccarat Hotel sold to China’s Sunshine Insurance

Technology

Microsoft, Samsung settle dispute on patent royalties

Monday
Feb092015

9 February 2015, Monday

Autos

Struggling Proton to help Indonesia develop and manufacture own national car

Banks

New rules governing how local banks should account for certain deposits on balance sheets

Sector unlikely to see downgrade even with further cut in government expenditure

CIMB closing IB operations in Australia

Acting group CEO appointed CEO of wholesale banking effective March

Capital markets

Global Carriers reprimanded; executive chairman fined RM19,500

Constitutional law

FT Islamic Council applies to intervene in Putrajaya’s appeal against ruling ordering return of CDs

Construction

Fututech executive chairman looking to fast-track growth

Employment

Employees Provident Fund paying record 6.75% dividend for 2014

Energy

Sarawak Cable zeroes in on Singapore and Australia, targeting cable sales of RM1 billion

Healthcare

Singapore tycoon, Johor crown prince injecting interests in Thomson Iskandar into TMC Life

Islamic capital markets

Troubled 1MDB calls off RM8 billion Sukuk

Legislation

Electricity Supply Act 1990 to be amended

Proposed corporate liability provision important step in fighting institutional corruption

Oil and gas

Decision on new Petronas CEO tomorrow

Property

Selangor government looking to make property development main contributor to state revenue

PKNS may put commercial property assets into REIT, list within three years

Authorities approve 80,900 units of high-rise residentials in Johor Baru

LBS Bina in no hurry to dispose of sole Chinese asset

Brisk demand for first tower of Southern Marina

Retail

BCorp may acquire licence to use RadioShack’s trademark

Telecommunications

Maxis moves into 2015 with positive momentum

Brand starting to see impact of restructuring and transformation programme

Tort

Flamboyant businessman ‘Jho Low’ denies role in blog attacks

CIMB chairman mulling legal action

Utusan Malaysia says The Edge owner needs to face media

ASIA

Aviation

100 bodies recovered from crashed AirAsia QZ8501; 72 identified

Technology

Alibaba invests US$590 million in smartphone vendor Meizu

AUSTRALIA

Intellectual property

Crown Resorts claims property developer Crown Group cashing in on casino operator’s brand

Media

Richest Australian sells stake of nearly 15% in Fairfax Media

EUROPE

Banks

HSBC’s Swiss arm helped wealthy avoid taxes and hide millions of dollars

Capital markets

IPO activity off to its best start since financial crisis

SINGAPORE

Airlines

Singapore Airlines’ Q3 income surges fourfold

Dispute resolution

Japanese accident victim’s parents reach settlement with AXA Insurance

Earnings

Genting HK’s FY14 earnings halved to US$235 million

Insurance

Life insurance sector returns to growth

S$6.8 billion paid out to policyholders and beneficiaries last year

UK

Food and beverage

British expats in US have to settle for American versions of chocolate

Insurance

Standard Life enters financial advice business

Private equity

Terra Firma putting €1 billion of own capital into deals

Exponent frontrunner to buy open-top sightseeing company Big Bus Tours

US

Financial markets

Investors piling into currency-hedged ETFs

Oil and gas

Generous compensation packages for CEOs going to survive

Philanthropy

Tech leaders among top 50 American donors to non-profit organisations in 2014

Real estate

Destruction of classic homes in LA disrupting and dividing neighbourhoods

Influx of Chinese altering make-up of towns along North Shore of Long Island

Technology

Motorola Solutions exploring possible sale

Wealth

How much of CEOs’ fortunes down to talent and luck?

Friday
Feb062015

6 February 2015, Friday

Banks

External auditors of Maybank, RHBCap queried about RM2 billion loan to 1MDB

Public Bank’s Q4 profit up 21%

Capital markets

MMC unit Malakoff can be relisted

Two more charged for insider trading of TH Group shares

Education

Perdana University partnering with San Diego’s UC after cutting ties with Johns Hopkins

Islamic finance

RHB Islamic: Industry players need to strengthen competency in developing Islamic finance

Property

Masterskill Education unit disposing of assets in PJ and Johor to private company

YNH may finally start work on long-delayed mixed development in Jalan Sultan Ismail, KL

Retail

RadioShack Malaysia not affected by US woes

Trade

Trade likely to expand at moderate pace of 2%-3%

Utilities

No increase in electricity tariff

ASIA

Gaming

Now may be the time to scoop up battered Macau casino plays

Insurance

China’s Anbang eyes controlling stake in South Korea’s Tong Yang Life

Rise of once-obscure Anbang has been an improbable one

Oil and gas

Hong Kong jeweller Chow Tai Fook makes unlikely foray into China’s oil trading business

AUSTRALIA

Airlines

AirAsia under fire over cancellation of affiliate’s inaugural Melbourne-Denpasar flight

Banks

Central bank lowers 2015 growth and inflation forecasts

EUROPE

Banks

France’s BNP Paribas expects rising taxes, new regulations to reduce 2016 earnings

Earnings

Swiss watchmaker Swatch anticipates a good year

SINGAPORE

Economy

Standard & Poor’s told not to mess with Temasek’s AAA rating

Insurance

Great Eastern posts 25% increase in Q4 profit

UK

Mergers and acquisitions

Drinks can manufacturer Rexam approached by US rival Ball about possible takeover

Temasek plotting takeover bid for software company Misys

Tax

Drugmaker Shire, accountancy firm PwC accused of extensive tax avoidance

Revolving door brings Big Four firms influence in government and inside edge

US

Bankruptcy

94-year-old consumer-electronics chain RadioShack pulls the plug

Turnaround hasn't panned out

Pharmaceuticals

Pfizer acquiring Hospira for US$17 billion; deal won’t delay any breakup of Pfizer

Financial jujitsu involved a little hard to believe

AstraZeneca buying Actavis’ branded respiratory drug business in US and Canada

Real estate

Actress’ former PA shaking up LA’s real estate industry

CBRE’s Q4 revenue jumps 25%

Technology

Apple’s HealthKit service spreading quickly among major hospitals

LinkedIn reports higher-than-expected 44% jump in quarterly revenue

Twitter appears to be closing gap to profitability

Thursday
Feb052015

5 February 2015, Thursday

Autos

DRB-Hicom having rough time in Proton turnaround

Aviation

Certificate of Practical Completion issued for klia2

Banks

Stable outlook for Malaysian banks

Capital markets

Furniweb Industrial Products to trade as PRG Holdings from Monday

Stockbroking company KAF-Seagroatt’s book value severely understated

Constitutional law

Federal Court to decide if rule barring non-Muslims from becoming Syarie lawyers unconstitutional

Insurance

Market may see smaller growth post-GST

Manufacturing

Press Metal increasing production capacity at aluminium smelter

Oil and gas

Muhibbah Engineering secures RM116 million contract for Petronas project

Petronas CEO’s contract extended by seven months; announcement on successor soon

Property

Redevelopment of former Pudu jail site kicks off in Q2

Publishing

JAWI files leave application to appeal against Court of Appeal ruling

Takaful

AIA appoints national chief agency officer, new CEO for Public Takaful

Al Rajhi Malaysia confident 20% of fee-based income for 2015 from Takaful

ASIA

Aviation

Death toll from TransAsia Airways plane crash rises to 31

Islamic finance

Indonesia pushing ahead with US$8 billion Islamic megabank

Wealth

Alibaba founder knocked off perch as China’s richest man

AUSTRALIA

Gaming

Echo Entertainment planning more development at flagship casino

Infrastructure

European IBs bulking up advisory and financing teams for A$90 billion worth of privatisations

Real estate

Fraudster’s wife only had indefeasible interest in half the property

Trade

Minister says Trans-Pacific Partnership agreement ‘within weeks’

EUROPE

Competition

Broking giant ICAP fined €15 million

ICAP challenging decision at appeal

Oil and gas

Total preparing for sale or listing of Hutchinson unit

GLOBAL

Islamic finance

Credit guarantees gaining traction

Doubts over whether Islamic finance living up to principles

Wealth

Number of billionaires up by 222 last year; slowdown in emerging markets reduced their fortunes

SINGAPORE

Financial markets

Covered bond market could open mid-2015

Insurance

AIA, Prudential and Manulife potential partner for DBS distribution deal

UK

Airlines

Hungary-based Wizz Air breathes new life into London’s stock market

Earnings

Starbucks UK finally makes a profit

Pharmaceuticals

GlaxoSmithKline’s annual profits down by half

GSK stake in Genmab up for sale

Telecommunications

BT finalises deal to buy EE from Deutsche Telekom and Orange

US

Capital markets

Apollo Global exploring sale or IPO of indoor water park operator Great Wolf Resorts

Apollo in advanced talks to acquire home security company Protection 1

Insurance

Prudential Financial’s Q4 loss widens

Intellectual property

Search firms Lateral.ly and Lateral Link locked in bitter trademark battle

Real estate

New York investors heading to Israel to raise cash

Technology

Microsoft’s third CEO making his mark on company

‘New’ Microsoft smarter and better focused than ‘old’ one

Twitter, Google strike deal

Quarterly earnings report could help decide Twitter CEO’s fate