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Daily News

 

Thursday
Jan152015

15 January 2015, Thursday

Administrative law

Octogenarian granted stay on Shariah trial on charges of insulting Islam

Airlines

Some ‘business proposals’ on revamp of Malaysian Airline System lack credible sources of funding

Fugro Supporter joins search for missing MH370

Malaysia will bear part of the costs

Autos

No change in Mercedes-Benz prices after April

Banks

Mega bank merger scrapped

Healthcare

TMC Life Sciences may spend up to RM300 million on expansion of medical centre

Investment

Khazanah Nasional in good shape

Unclear whether December directive to spend locally applies to Khazanah

Oil and gas

Sona Petroleum not buying stake in O&G blocks from Salamander

Property

Plot of land opposite Bangsar Shopping Centre sold for RM7.5 million

Country Garden gets DoE nod on RM600 billion Forest City project

Jesselton Peak acquires 21.78 ha in Jesselton, Penang for RM150 million

Retail

Consumer spending likely to dip after April

Telecommunications

WB Land, REDtone ink deal for fast broadband services at Frontier Industrial Park, Johor

ASIA

Aviation

Fuselage of downed AirAsia QZ8501 found; 50 bodies recovered so far

Request for change in Surabaya-Singapore flight schedule only verbal

Two teams of investigators to analyse flight data and audio

Capital markets

China’s biggest bad-debt manager looking to raise US$3 billion in HK IPO

AUSTRALIA

Capital markets

IPO of car leasing company FleetPartners expected in April

Insolvency

Country’s oldest chocolatier Ernest Hillier in administration

CANADA

Banks

Family members failed to meet pre-conditions necessary to establish defence of non est factum

Technology

BlackBerry, Samsung not in talks about potential takeover

Tie-up with Samsung would require blessing of major Blackberry shareholder

BlackBerry’s patents in the spotlight

EUROPE

Autos

Consolidation inevitable for weakest manufacturers to survive long term

Banks

Deutsche Bank may spin off retail banking business

SINGAPORE

Banks

DBS shortlisted for next round in sale of Coutts International

Mergers and acquisitions

SingPost acquires 90% stake in in New Zealand-based freight forwarder

Oil and gas

Ezra delays plan to list subsea services unit in US

UK

Banks

Odds stacking up against StanChart CEO keeping his job

Legal services

US law firm Cooley launches UK practice

US

Earnings

JPMorgan managers told to cut costs; trouble with expenses raises questions about its size

Results a pointer to performance of JPMorgan’s competitors

‘Full-fledged breakup doesn’t make sense now’

Media

Mexican billionaire now largest shareholder of New York Times

Wednesday
Jan142015

14 January 2015, Wednesday

Administrative law

Illogical to ban book by Canadian author; English version in circulation for a year

Biotechnology

BiotechCorp eyeing RM2 billion in revenue from 248 BioNexus-status companies

Criminal law

Federal Court reverses acquittal of policemen involved in murder of Mongolian model

Truth surrounding her death unlikely to be ever known

Islamic finance

Failure to create Islamic megabank not major setback for industry

Market did not believe in achievability of synergies

Malaysia should start focusing on capital market and Takaful

Oil and gas

Petronas not divesting 80% stake in Cape Town-based Engen Petroleum

Back to the drawing board for Tanjung Offshore

Property

SP Setia, Sime Darby would have to justify merger

Takaso secures OCR Land contract to construct 21-storey commercial building

Tropicana, GEMS Education to develop school campus in Selangor

Tropicana hopes to achieve RM2 billion sales target by year-end

Retail

Four new Giant stores to open this year

Telecommunications

Industry will still record overall revenue growth despite tougher competition

New MCMC chairman needs to explain rationale for separating roles

Transport

One card for all modes of transit from January 2017

MRT2 and LRT3 projects not affected by possible cutback on new projects

ASIA

Autos

Toyota watching Daihatsu’s dismantling of keiretsu system that it pioneered

Aviation

Cockpit voice recorder retrieved from doomed AirAsia QZ8501

Investigators will learn sequence of events that led to jet's demise

Islamic finance

Indonesia sold more global Sukuk than Malaysia and Qatar in past four years

AUSTRALIA

Intellectual property

Boy band 5 Seconds of Summer’s application to register ‘5SOS’ refused

Wealth

Country’s richest individuals and families lost billions in past year

CANADA

Employment

Trial judges must take full case for just cause, then consider whether summary dismissal justified

Tax

Landmark transfer pricing case involving GlaxoSmithKline settled

SINGAPORE

Banks

Deutsche Bank sued over US$32 million trading loss

Gaming

Marina Bay Sands patron sues for wrongdoing and breach of contract

Media

Singapore Press Holdings’ Q1 earnings down nearly 22% from Q1 2014

Additional streams of revenue insufficient to stem 'structural' decline in core business

Professional services

ZICO-Stamford Law JV to provide seamless corporate secretarial services

US

Antitrust

Apple, Google reach new deal to end lawsuit over poaching

Gaming

Genting Malaysia could have second shot at New York casino

Rebidding does not affect previous three licences approved

Oil and gas

Shell can move ahead with exports of super-light crude

Real estate

Lawsuit highlights long-running tussle over what is, and isn’t, included when measuring a home’s size

Tuesday
Jan132015

13 January 2015, Tuesday

Autos

‘Cash for clunkers’ scheme may help boost sales for automakers

Record year for Ford Malaysia

Aviation

Passenger growth for 2014 affected by negative sentiment from Malaysia Airlines disasters

Banks

Proposed CIMB-RHBCap-MBSB merger cancelled

Announcement before end of the week

Competition

Appointment of MyEG Services as sole provider for service ‘against Competition Act 2010’

Education

Turnaround of Masterskill Education expected within a year after takeover

Finance

Investors worried about wider implications of 1MDB’s failure to meet loan obligation

Financial services

MBSB adheres to more stringent accounting standards under FRS 139

Land

Alienation of 500 acres by Sabah department declared null and void

Oil and gas

Plunge in oil prices has serious implications for sector’s bondholders

Property

Eco World Investment-Ballymore JV developing three residential projects in London

Mah Sing planning RM630 million rights issue

Country Garden among contributing factors for slowdown in Johor

Telecommunications

Former chairman of MCMC returns for second stint

Transport

Motorised tricycles may be introduced as cheaper alternative to taxis

ASIA

Autos

Toyota Motor looking to grow again

Aviation

Flight data recorder from AirAsia QZ8501 retrieved, confusion about final moments

Property

China’s Country Garden may issue debt in different currencies to cut risks from stronger US dollar

EUROPE

Autos

New models critical to transform Alfa Romeo into luxury brand capable of challenging BMW, Audi

GM’s German Opel unit tasked with building Buicks to sell in US

Aviation

New study suggests trained Russian crew shot down MH17

GLOBAL

Aviation

Dubai surpasses Heathrow as world’s busiest airport for international passengers

Capital markets

Asian companies dominate top 10 global IPOs in history

Islamic finance

Industry projected to exceed US$2.5 trillion of assets in 2015

SINGAPORE

Property

GIC selling shares in Indonesia’s Pakuwon Jati

Tort

Blogger told to pay PM’s legal costs

UK

Employment

Bank worker suffers serious setback in fight for compensation

Mergers and acquisitions

Investors advised to reject Qatari-led US$4 billion takeover bid for Canary Wharf

US

Earnings

Luxury jeweller Tiffany cuts annual forecast

Oil and gas

Banks that exuberantly extended credit to oil companies may feel the pinch

Technology

Facebook almost invested in ‘China’s Apple’, Xiaomi

Monday
Jan122015

12 January 2015, Monday

Aviation

Robust and media-savvy business should help AirAsia overcome first major reversal

Malaysia in talks to deploy fourth vessel in search for missing MH370

Capital markets

Malakoff IPO could fetch more than US$1 billion

Draft prospectus

Tenaga Nasional offers RM644 million to take over Integrax

Only time will tell whether Permodalan Mara’s investments in small-caps will pay off

Contract

Sports club cannot be agent of Petaling Jaya City Council

Energy

Cypark Resources confident in future of renewable energy

Finance

1MDB’s substantial debt obligation ‘justified’

Awkward dilemma for tycoon

Insurance

Proposed scheme for retrenched workers to be tabled in March

Judiciary

Chief Justice, A-G take exception to lawyers’ criticism

Why should the public not criticise if judgments seen to be ‘sick’?

Legal profession

Consultant’s departure a coincidence, says law firm

Judicial Appointments Commission does not act arbitrarily

Oil and gas

Shell Refining explores options

Real estate

Outlook does not look encouraging

Empire City mall opening mid-year; may rival Pavilion, Sunway Pyramid and 1U in terms of size

SP Setia moots plan for Sime Darby arm to take over company

Future of Kampung Baru villagers still unclear

Federal Republic of Germany-owned plots in KL for sale via tender

Telecommunications

Celcom Axiata to revisit current business models, gear up new ones

DiGi.Com could be biggest beneficiary post-GST

Tort

Defamation suit against theSun and former editor dismissed

ASIA

Aviation

Flight data recorder from AirAsia QZ8501 retrieved

Attention again on whether pilot training programmes need to improve

Banks

RBS boss holding meetings to consider ways to scale back lender’s Asian business

Legal services

India hearing case on ‘fly in fly out’ rights of foreign law firms next month

AUSTRALIA

Airlines

Qantas fined A$200k for selling unsafe products

Employment

Employee did not quit job but was fired

Intellectual property

Tensions between Coca-Cola and PepsiCo will continue to bubble

EUROPE

Autos

Mercedes plans four new SUVs

Insurance

Dublin-based XL gets bigger chunk of Lloyd’s of London market

Mergers and acquisitions

Shire buying NPS Pharmaceuticals for US$5 billion to expand in rare diseases

NEW ZEALAND

Antitrust

Fonterra cleared to take up 20% stake in Chinese infant formula maker

Employment

Office environment contributed to administrator’s stress

ERA ruling

Bus driver justifiably dismissed

SINGAPORE

Contract

Court of Appeal rules on meaning of ‘all reasonable endeavours’ for first time

Judgment

Real estate

Aspial-Fragrance JV proposes to take over LCD Global Investments

GIC and New York-based KKR setting up lending platform in India

UK

Autos

Jaguar enters luxury SUV segment in radical departure for 80-year-old brand

Newest model will be made in Britain

Contract

How the courts’ view on good faith provisions has been developing

Insurance

Insurer could not exercise any right of subrogation in order to claim under contractual indemnity by trust company to trustee

US

Autos

Volvo plans to export Chinese-made midsize sedan to US

Gaming

Nevada’s once-powerful law firm relegated to history pages

Friday
Jan092015

9 January 2015, Friday

Autos

New and improved Perodua Myvi open for booking

Banks

Forex reserves at lowest level since 2011

BNM statement

Proposed CIMB-RHBCap-MBSB merger at risk

Capital markets

Kuala Lumpur Kepong sells 20% stake in subsidiary to Japan’s Mitsui

Civil procedure

Blogger jailed three months for contempt of court over 11 articles

Imprisonment unnecessary

Economy

Credit Suisse recommends revision of Budget 2015

Dark clouds hanging over the markets for exports

Legal profession

Former Federal Court judge-turned-practitioner pressured to leave law firm

Management

Resolving 1MDB’s debt quagmire has become more pressing for PM, new CEO

Manufacturing

Rubber glove maker top Glove expects FY15 to be better than FY14

Property

IJM venturing into property investment

Retail

Parkson positive on Vietnam despite closure of Hanoi store

ASIA

Aviation

Pings detected in search for AirAsia jet’s black box

Pressing need for reforms to fragmented safety framework

Travel boom raises concerns about proper training, lack of oversight and shortage of skilled pilots

Deployable recorders back on ICAO agenda following AirAsia crash

Indonesia tightens rules on cheap fares for domestic flights

SIA-Tata Sons JV takes to the skies

Challenge in getting cost-conscious Indians to pay upmarket prices

Banks

StanChart closing 80 to 100 branches

CEO advised to shut equities a year ago

Beverages

Heineken building beverage plant in East Timor

Competition

Penalties and fines up 47% from 2013

Oil and gas

One-year window for cash-rich state oil companies to snap up global assets

GLOBAL

Islamic finance

Potential for Shariah finance-SRI crossover products

Oil and gas

Supertankers hired for up to 12 months to store crude at sea

SINGAPORE

Competition

Take adequate steps to ensure compliance with Competition Act

Real estate

Efforts to rein in household debt, home prices set for first test

OCBC most at risk in event of meltdown in housing market

Tax

New guidelines on transfer pricing

UK

Capital markets

Trainline seeking to raise £75 million via February listing

Islamic finance

How Britain and Jersey are tapping into flourishing market

Real estate

Extent to which developers can be made liable for future highway maintenance works

British Land reaps £256 million from sale of four commercial properties

Retail

‘Drastic Dave’ lives up to moniker

More asset sales may be inevitable

US

Autos

Honda’s record US$70 million fine largest ever levied on an automaker

Internet giant Google moving into auto insurance sales

Health

Pressure on American Red Cross to change policy of taking tobacco money