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Daily News

 

Friday
Aug142015

14 August 2015, Friday

Airlines

AirAsia CEO’s juggling act extends beyond figures

Banks

Central bank’s probe into 1MDB complete

Constitutional law

Federal Court reserves judgment on non-Muslim’s right to practise as Syarie lawyer

Economy

Impact of ringgit’s depreciation manageable, economy on steady growth path

BNM statement

Energy

PUC Founder bidding for 50mw RE quota from Seda next year

Gaming

Genting Malaysia raising RM2.4 billion to finance working capital, theme park

Healthcare

Still room for IHH to grow post-GST

Insurance

PIAM’s growth forecast revised downwards

Takaful Malaysia’s Q2 profit down on lower surplus transfer

Takaful Malaysia downgraded to Neutral

Media

Media Prima cautiously optimistic about 2015

Longest-serving chairman not pressured into resigning ahead of contract expiry

Oil and gas

Uzma to invest RM472 million over 15 years in Terengganu

Property

Bina Darulaman looking into projects in Perak and Klang Valley

Takaso Resources plans mixed development in Melaka

Tropicana’s Q2 profit down 74%

Consortium Zenith, Ewein Zenith collaborating on Wellness City of Dreams

Trade

PwC-ISIS analysis of Trans-Pacific Partnership pact ready next week

ASIA

Food and beverage

Partial victory for Swiss food giant Nestlé

Results ‘solid’ in ‘difficult circumstances’

Technology

Samsung bets on larger displays

Petition for rehearing of case against Apple denied

Struggling HTC trimming workforce by 15%

EUROPE

Antitrust

Second extension for Google to respond to EU charges

Mergers and acquisitions

Packaged foods company Nomad buying European operations of Findus for £500 million

SINGAPORE

Airlines

Singapore Airlines not investing in South Korea’s Jeju Air

Gaming

Fourth straight decline for Genting Singapore

Industry downturn, unfavourable global VIP premium business and rolling win percentage among factors

Real estate

More pain on the cards for property shares

UK

Contract

Parties should not rely on statements in correspondence

Judgment

Fundamentals of contract interpretation and implied duty to act in good faith

Judgment

Shipping

Caution advised in using ‘Without Prejudice’ label

Judgment

US

Energy

Hong Kong-based Shunfeng International to take majority stake in Suniva

Technology

Apple’s live TV service delayed to 2016

Thursday
Aug132015

13 August 2015, Thursday

Administrative law

Decision tomorrow on stay order against three-month suspension of The Edge publications

Aviation

Australia’s JACC confirms flaperon belongs to missing MH370

MH370 families reject declaration wreckage is from ill-fated flight

Appointment of transport ministry staff to Malaysia Airports board against Khazanah’s rules

Capital markets

Penang-based Aemulus gets green light to list on ACE Market

Constitutional law

Federal Court to hear two separate cases that essentially deal with one fundamental question

Outcome of appeal will determine whether provision in Negri Sembilan enactment constitutional

Ministry will return ‘Allah’ CDs ‘soon'

MAIWP seeking to be intervener

Earnings

Nestlé Malaysia’s Q2 profit up but revenue shrinks

Economy

Investors fleeing Malaysia

Election

Civil suit filed against PM and 1MDB for electoral offences

Unclear what amount of RM2.6 billion actually used during election

Investment

unclear, however, what amount of the RM2.6 billion was actually used during the election - See more at: http://www.themalaymailonline.com/malaysia/article/after-wsj-expose-pkr-hauls-pm-1mdb-to-court-for-alleged-electoral-offences#sthash.5IsLDmpT.dpuf

1MDB confident can reduce debts in six months

Weakening ringgit won’t affect debt rationalisation plan

Legislation

Bill on new, comprehensive Child Act to be tabled in October

Manufacturing

UMW, Rolls-Royce ink RM830 million partnership deal

Oil and gas

Barakah Offshore bags Petronas Carigali contract

Property

Global Oriental selling 19-acre tract in Selangor for RM43 million cash

ASIA

Earnings

Alibaba CEO’s first Wall Street outing a big letdown

Technology

Chinese Web companies keen on Indonesia as SE Asia hub

AUSTRALIA

Employment

Malaysian restaurant that underpaid staff avoids legal proceedings

Gaming

Crown chairman steps down, but will remain on its board

Media

‘The Hotplate’, allegedly copy of reality TV cooking show ‘My Kitchen Rules’, can continue to air

Factors taken into account when court is considering interlocutory relief

SINGAPORE

Earnings

Boustead’s Q1 profit down 61%

Property

CityDev’s Q2 profit slips

Telecommunications

Singtel’s Q1 profit boosted by exceptional gains

UK

Competition

Reckitt Benckiser must license K-Y brand to third party for eight years

Employment

Dismissal for derogatory comments on Facebook two years ago deemed fair

Decision

Insurance

Information that is material to insurer for underwriting purposes

Media

Pearson exits business publishing following Economist stake sale

US

Media

News Corp takes US$371 million impairment charge related to Amplify education business

Technology

EMC rival Pure Storage files for IPO

Wednesday
Aug122015

12 August 2015, Wednesday

Administrative law

Indigenous people of Sarawak can challenge decisions by Native Courts in civil courts

Autos

UMW group COO taking over as president/group CEO from October

Banks

Hong Leong Bank plans RM3 billion rights issue

Capital markets

Benalec reprimanded, three directors fined a total of RM250k

Integrated Rubber Corporation to trade as Comfort Gloves from today

Constitutional law

New Attorney-General appearing as intervener in non-Muslim’s fight to practise Islamic law

Islamic finance

Bank Islam wants to increase corporate and commercial portfolio to 30%

StanChart is Maybank’s choice for cross-border ‘passporting’ scheme

Benchmark Islamic borrowing costs seen rising to a record

Offshore jurisdictions gaining in popularity

Oil and gas

Malaysia, Brunei reach agreement on overlapping blocks

Printing services

Percetakan Nasional Malaysia will be privatised

Property

MMC sells three parcels of land in Johor to I-Park for RM370 million cash

Sunway REIT’s Q4 profit up 52%

Developers facing several operational issues concerning GST

Utilities

Syabas may need RM4 billion over five years to improve water supply services in Klang Valley

Putrajaya, Indah Water Konsortium developing joint billing system

ASIA

Food and beverage

India seeks damages from Nestlé; would be first foreign firm asked to pay on behalf of consumers

Insurance

Japan’s Sumitomo Life acquiring Washington-based Symetra Financial

Shipping

COSCO, China Shipping in talks over possible merger

Tourism

Genting HK unit disposing of 4.36% stake in Norwegian Cruise Line for US$590 million

AUSTRALIA

Banks

CBA posts largest-ever profit by an Australian bank

Gaming

Echo Entertainment beats earnings expectations

EUROPE

Autos

BMW heir requests exemption from German takeover rules

Jaguar Land Rover building factory in Slovakia

Aviation

Debris from MH17 crash site possibly fragments of Russian-made missile system

SINGAPORE

Food and beverage

Slow sales in Philippines, eastern Europe blamed for Super’s 30% slide in Q2 profit

Insurance

Singapore, Thailand at top of Sun Life’s expansion plans

UK

Gaming

Planned Ladbrokes-Coral merger needs to get past Competition and Markets Authority

Insurance

Prudential’s H1 profit beats analyst estimate

Turbulence on Chinese stock market has had little effect

US

Mergers and acquisitions

General Electric continues to shrink finance arm

Technology

Norton antivirus software maker Symantec sells data storage unit Veritas to Carlyle-led group

Symantec joins tech breakup party in full swing

Tuesday
Aug112015

11 August 2015, Tuesday

Aviation

Malaysian team in Maldives to inspect debris

AirAsia not budging from Kota Kinabalu International Airport’s Terminal Two

Malaysia Airports CFO quits

Capital markets

myNEWS.com operator Bison offering 80 million shares for proposed IPO

Prospectus

The Media Shoppe down 4% on news CEO no longer major shareholder

Economy

Today’s economic troubles the product of complacency

Energy

1MDB undertaking due diligence on Edra Global asset

Graft

MACC probe into companies linked to 1MDB to continue following reinstatement of officers

Islamic finance

Bill aimed at controlling quality of Islamic financial educators to be tabled

Oil and gas

Kunci Sempurna acquiring 51% stake in Salcon Petroleum

Scomi Energy division secures more than RM140 million worth of contracts

Property

Affin Bank acquires Tun Razak Exchange parcel, site of new HQ, for RM255 million

Matrix Concepts’ Q2 profit down nearly 30%

Meda betting all its chips on RM180 million land acquisition

MPHB Cap-Magna Senandung JV to redevelop site of once-popular Mimaland aborted

EcoFirst Consolidated aims to grow market cap to RM1 billion in three years

DutaLand unit reapplies for approval to develop site once earmarked for Grand Duta Hyatt Hotel

ASIA

Intellectual property

IP activities growing rapidly across value chain

Retail

Hong Kong landlords pushed to lower rents as luxury brands scale back

AUSTRALIA

Banks

ANZ hoping to raise A$1 billion from sale of 39% stake in Indonesia’s Panin

Company law

When bidder considered to be reckless or to have engaged in deceptive conduct when announcing proposed takeover bid

EUROPE

Real estate

Hungary’s TriGranit sold to TPG

Technology

Nokia plotting return to mobile phone and consumer tech arena

SINGAPORE

Banks

DBS pushing ahead with strategy to be leading Asian bank

Commodities

Noble complied with international rules in valuing long-term contracts

Noble cutting 16% of staff

Dealmaker to review options

Economy

Singapore narrows GDP forecast

UK

Islamic finance

London a natural fit to be at forefront of developing next phase of Shariah-compliant products

Retail

Amazon closer to launching grocery service in UK

US

Food processing

Q2 sales down at Kraft and Heinz

Mergers and acquisitions

Shire CEO steps up campaign to get Baxalta to negotiating table

Warren Buffett again seeking to reshape Berkshire Hathaway

Technology

Google unveils surprise corporate reorganisation

Senior V-P of will lead ‘slimmed down’ Google

Monday
Aug102015

10 August 2015, Monday

Aviation

Maldives joins search for wreckage from missing MH370

Banks

In-principle approval for CIMB to operate in Vietnam

Capital markets

FBM KLCI poised to enter technical correction

Khazanah-owned Themed Attractions working towards listing

Asian Broadcasting Network agreeable to divesting up to 40% in return for fresh capital

E-commerce

Asia Poly branches out

Economics

How long will pain last for rupiah and ringgit?

Education

UKM among five public varsities to use new CGPA system from September

Land

Construction company’s client compensated RM155k

Property

Country Heights in the red for second consecutive quarter

KLCC Property’s Q2 revenue dips slightly

Retail

53 tenants at Paradigm Mall have moved out

WCT’s goal is to inject all its malls into a REIT

Local brands could end up bloody and bruised from resulting profit margin squeeze

Telecommunications

Axiata unit buying out Indian-based Komli Asia for US$11 million

Naza among companies bidding for RM1 billion Time 3 Expansion contract

Transport

Controversial Automated Enforcement System will be relaunched

Prasarana considering second round of restructuring

ASIA

Insurance

Sumitomo Life may acquire midsize Symetra Financial

Symetra has been exploring possibility of selling itself

Investment

Foreigners have found ways to bet on Chinese stocks and derivatives that bypass formal channels

AUSTRALIA

Banks

National Australia Bank’s Q3 profit up 9.4%; targeting sale of UK unit by year-end via IPO

Real estate

Foreign owners of residential property ordered to sell as government intensifies crackdown

Investors would find it difficult to meet new LTV rules

EUROPE

Mergers and acquisitions

Greek yoghurt maker Chobani working with Goldman Sachs on disposal of minority stake

Wealth management

Swiss banks renew push to win business from Asia’s burgeoning ranks of millionaires

UBP banking on Coutts International to spur growth in Asia

SINGAPORE

Economy

Singaporeans usher in country’s big 5-0

Greatest challenge for leaders is whether to continue pragmatic approach to governance

Property

Rowsley takes up 34.72% stake in architectural services company

UK

Capital markets

Sandwich chain Pret a Manger well positioned to attempt 2016 listing

Media

Pearson announcement on Economist stake sale this week

Real estate

Wealthiest property investors driven out of Knightsbridge and Belgravia by higher sales taxes

US

Financial services

Activist hedge fund ValueAct Capital builds US$1 billion stake in American Express

Real estate

Hawaii a favoured playground of Northern California’s wealthy digerati

McMansion roaring back