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Daily News

 

Friday
Mar132015

13 March 2015, Friday

Aviation

Much can be done to prevent another MH370

Banks

Changes at CIMB senior leadership team

Investment

1MDB secures RM950 million loan from ministry of finance

Loan meant to ensure state-owned company able to realise 'maximum value' from plans

1MDB’s financial position not sustainable because debts too high

Critics want explanation of how fund supported by PM ended up in such a financial mess

Businessman played a part in helping actor secure starring role in ‘Wolf of Wall Street’

Funds management house AmInvest making its mark on a global scale

Islamic capital market

SGI-Mitabu’s Sukuk issue could provide useful example of alternative sources of capital

CIMB, HSBC and StanChart to manage issuance of sovereign Sukuk

Land

Notice by Kuala Terengganu Land Office to residents to vacate land was valid

Management

Delay in appointing new MD detrimental to KUB’s financial wellbeing

Oil and gas

Labuan Shipyard Engineering optimistic of more projects despite slump in crude oil prices

Property

Malton scraps plan to sell 12 acres in Selangor to Hedgeford Ventures

Technology

Country’s first tech billionaire working on next venture

Tort

Tanjung Offshore, three independent directors commence civil action for defamation

Article not defamatory of Perkasa chief, says Star Publications CEO

Wealth

Pool of Malaysian ultra HNWIs projected to grow 42% next decade

ASIA

Leisure

Owner of Legoland expanding in Asia; Merlin Entertainments also looking at China

Real estate

Planned 123-storey Lotte World Tower marred by teething troubles at mall and leisure complex

Takaful

Indonesia’s Takaful industry expanding thrice as fast as Malaysia’s

AUSTRALIA

Infrastructure

IFM Investors makes biggest acquisition and Australia’s fourth-largest purchase of a US firm

Telecommunications

TPG Telecom acquiring iiNet for A$1 billion; competition watchdog flags public review of takeover

EUROPE

Antitrust

French yogurt makers fined for price-fixing; Yoplait escapes penalty for blowing cartel’s cover

Aviation

New testimony indicates missile in early stages of flight path just before downing of MH17

SINGAPORE

Mergers and acquisitions

Singapore could see dip in acquisition appetite

Plantations

Wilmar chairman, former forest foe, now an environmentalist

Real estate

Day of reckoning may soon come for S-REITs

Retail

Competition from e-tailers, tighter labour supply hurting business in once-busy Orchard Road

UK

Banks

Britain seeking to become founding member of China-backed AIIB

White House signals unease at Britain’s decision

Real estate

Residential area rising at fringes of London’s Square Mile

US

Banks

Germany’s Commerzbank settles US charges for US$1.5 billion

Investment

US$14 billion hedge fund firm BlueCrest accepting first money from third parties starting April

Technology

IBM looking to expand use of blockchain tech beyond bitcoin

Thursday
Mar122015

12 March 2015, Thursday

Airlines

AirAsia still considering IPO for Indonesia affiliate

Economy

Export growth expected to slow sharply to 1.5%

Central bank’s statement

Managing price reforms will be challenging

Annual report

Education

Our varsities again left out of latest Times Higher Education World Reputation Rankings 2015

Media

Star Publications said to be in talks to acquire US asset

Newspaper publishers need to adapt in multichannel media ecosystem

Oil and gas

Petronas sells US$5 billion of dollar-denominated bonds

Investor interest waning in some SPACs

Property

Daughter of Sunway founder assumes full control of key unit from May

iProperty expands market presence in Asia via acquisition of Thai-based ThinkOfLiving.com

Telecommunications

Interesting 2014 for Celcom Axiata, Maxis and DiGi.Com

Water services

Selangor water deadlock headed for court if no agreement on latest impasse

ASIA

Aviation

AirAsia giving ‘one last shot’ at recovering 60 still missing from crashed QZ8501

Insurance

India’s ICICI in talks to sell part of stake in insurance JV to Temasek and Carmignac Gestion

Technology

South Korea’s LG plans record investment in R&D

AUSTRALIA

Airlines

AirAsia X resuming flights to Europe next year; London likely first destination

LCC looking to restart flights to Adelaide, launch new Sydney-Bali route

Capital markets

IPO pipeline reasonably strong but Deloitte questions quality of 2015 floats

Property

Evergrande most high-profile casualty of crackdown on illegal home buying by foreigners

EUROPE

Food and beverage

Dutch brewer Heineken interested in Slovenia’s Pivovarna Lasko

Mergers and acquisitions

US companies most active foreign buyers in Europe

Holcim, Lafarge in talks to renegotiate terms of €41 billion merger

SINGAPORE

Contract

Bahrain bank’s claim against Boustead ‘unconscionable’

Property

Frasers Centrepoint’s North Park Residences targeted at investors and owner-occupiers

Tort

Former chairman of Nobel Design sues CEO, three others for defamation

UK

Education

Universities of Oxford, Cambridge improve positions

Health

Lawmakers pass legislation to ban branding on cigarette packs

England third country to introduce plain-packaging law

Technology

Google opens first ever bricks-and-mortar store in London

US

Insurance

Principal Financial, MetLife increasingly counting on emerging markets

Technology

Alibaba investing US$200 million in Snapchat

Travel

Ex-CEO of Norwegian Cruise claims Virgin stole his ideas and business plans for luxury cruise

Wednesday
Mar112015

11 March 2015, Wednesday

Capital markets

Book building for institutional investors of Qualitas Healthcare opens end-March

Competition

Malaysian Institute of Arbitrators first professional body to dismantle scale of fees

Construction

CA E&C, Segi Temasek and Semangat Bina fined RM66k for failing to register with CIDB

Energy

Concessions of some existing power plants extended

Entertainment

iflix to launch initially in Malaysia and Philippines before end-Q2

Food and beverage

Rock-bottom consumer sentiment, eroding purchasing power dampen prospects

Investment

Audit on 1MDB begins, but no timeframe as to completion

Pelaburan Mara plans RM400 million worth of investments

Islamic finance

Telekom Malaysia may pick euro for maiden global Sukuk sale

Hong Leong Islamic Bank posts higher profit

Creation of Islamic mega bank still on the agenda

Pharmaceuticals

Chemical Company of Malaysia sees 25% growth in combined revenue by 2018

Property

UMLand focusing on townships and niche projects

Tax

GST won’t affect Inland Revenue Board’s 2015 collection target

Water services

Disruption of supply in Klang, Shah Alam and Kuala Lumpur on Monday

Federal and Selangor state governments blaming each other for stalled water restructuring deal

ASIA

Consumer goods

Procter & Gamble’s Crest toothpaste division fined for false advertising

Legal profession

Massive financial benefit to Hong Kong’s law firms if allowed to list on stock exchange

AUSTRALIA

Insolvency

A trust will not arise unless parties expressly declare intention to create one

Property

Foreign investors drive growth in commercial property sector

CANADA

Employment

One incident of false whistleblowing can be sufficient grounds to terminate employment

Putting an employee on paid administrative leave can constitute constructive dismissal

Intellectual property

Use of competitor’s registered trademark in meta tags does not constitute infringement

EUROPE

Antitrust

Probe into Siemens’ proposed takeover of Dresser-Rand extended

Aviation

Ryanair first airline to operate scheduled flights from Spanish ‘ghost airport’

Banks

Prudential boss cuts an unusual figure for a Swiss bank chief

Switch signals Credit Suisse may follow rivals in scaling back securities business

SINGAPORE

Competition

Singapore Airlines, Malaysia Airlines among eight carriers to settle collusion lawsuit

Financial markets

Launch of ICE Futures Singapore pushed back to mid-2015

Pharmaceuticals

GlaxoSmithKline establishing new global HQ for Asia

Property

Owner of 2,626 sq ft Sentosa Cove apartment books huge loss

UK

Capital markets

Sparkling stock market debut for challenger bank Aldermore

Insolvency

Extent to which solicitor should advise client regarding risks of a particular transaction

Judgment

US

Autos

Hyundai building second US factory to meet demand for SUVs

Entertainment

Musicians found liable for plagiarising; Marvin Gaye estate awarded US$7 million

Mergers and acquisitions

KKR eyeing US helicopter ambulance company Air Medical

Technology

Google CFO’s departure unlikely to cause major disruptions

Tuesday
Mar102015

10 March 2015, Tuesday

Aviation

Delayed response possibly most disturbing revelation in MH370 report

New report only deepens mystery

Expired battery made no difference in search

Malaysia Airlines towelette shipped to Canberra for further testing

IATA: Flying getting safer despite recent disasters involving Asian carriers

Capital markets

Aemulus looking to list on ACE Market of Bursa Malaysia

Prospectus

Earnings

LPI Capital confident of sailing through challenging FY15

China-based Maxwell expects better performance in last two quarters of FY15

Economy

Weak ringgit, slump in oil and debt repayment concerns at 1MDB weighing on nation’s debt

Food and beverage

Brahim’s still in talks to acquire local F&B business

Insurance

PIDM’s revised framework supersedes last enhancement in 2011

Guidelines on Validation Programme: Differential Premium Systems and Total Insured Deposits

Guidelines on the Differential Premium Systems for Deposit Insurance System

Investment

Taskforce formed to probe 1MDB

Legislation

Lawyers to debate two opposing motions on Sedition Act 1948 at Saturday AGM

Oil and gas

Platts considering proposal to reflect deliveries from Pengerang in Singapore pricing assessments

Contracts still flowing from Petronas despite lacklustre sentiment

Proposal to raise debt through Sukuk issue ‘opportunistic'

Water services

Puncak Niaga-Air Selangor SPA now void following lapsed deal

Selangor MB asked to explain

AFRICA

Food and beverage

Burger King venturing into new African countries; McDonald’s also keen to build on growth

Islamic finance

Morocco’s first full-fledged Islamic bank could open in September

ASIA

Autos

Young, monied South Koreans shun German luxury brands for flashy Maseratis and Bentleys

Islamic finance

Islamic banking units of four Indonesian banks to be integrated into new entity

Property

Rapid expansion putting a strain on Country Garden’s resources

CANADA

Employment

Priest neither in employment of diocese nor parish corporation

Intellectual property

Two reasons why registration can go a long way to protecting your brand

EUROPE

Antitrust

EU court upholds 2012 decision to block Deutsche Boerse-NYSE Euronext merger

Banks

Longstanding CEO of Credit Suisse to be replaced by head of Prudential

UK

Airlines

Virgin Atlantic posts first annual profit since 2011

Capital markets

Online car marketplace operator Auto Trader confirms plans for IPO

US

Mergers and acquisitions

Billionaire investor now Valeant Pharmaceuticals’ fifth-largest stakeholder

Technology

Apple Watch available next month

MacBook just got skinnier

Former Google executive to head Patent and Trademark Office

Monday
Mar092015

9 March 2015, Monday

Aviation

Malaysia committed to search for MH370 a year after mysterious disappearance

Lack of new leads into what caused jet’s disappearance compounds frustrations

Battery on data recorder may have expired in 2012

Expired battery ‘potentially very significant’ in determining compensation

Air traffic control supervisor asleep on duty

Some families of crew members left in the lurch as staff benefits cease

Malaysia vastly different than it was a year ago

Banks

Maybank expects another good year

Competition

Ice manufacturers pay up

Healthcare

Traditional Chinese medicine could cost 20%-30% more post-GST

Insurance

At least 6% more for medical and health-related coverage from April

Investment

Former CEO of 1MDB may have to face impropriety allegations on PetroSaudi JV

Media

Smaller, independently-run production houses will benefit from giants’ cost-cutting

Oil and gas

Hibiscus Petroleum embarking on fresh capital-raising exercise this year

Icon Offshore on lookout for acquisition targets

Property

Sunsuria’s major shareholder likely to inject assets into company

Kota Kinabalu’s city landscape set to change by year-end

IOI Properties aborts proposed acquisition of stake in owner of Taipei 101 skyscraper

Telecommunications

Opportunities for Green Packet to strengthen remaining businesses in Latin America and Europe

Telekom Malaysia increasing its focus on industry verticals

Water services

Federal government unlikely to be granted third extension

ASIA

Banks

Maybank, DBS and CIMB overtaking international securities firms in managing regional stock sales

Foreign banks tighten lending criteria for China’s SOEs

Travel

Genting Hong Kong expects gain of US$218 million from sale of Norwegian Cruise shares

AUSTRALIA

Franchising

Misled former franchisee of hairdressing chain entitled to more than A$700k in damages

Wealth

Malaysian again named Australia’s Richest Self-Made Woman

List

EUROPE

Financial regulation

Regulators scrutinising shadow banks

Mergers and acquisitions

Holcim’s largest stakeholder wants better deal for shareholders in planned merger with Lafarge

GLOBAL

Islamic finance

Banks in US and Canada risk missing out on fast-growing and lucrative market

Property

Hotel investors seeking out niches, jumping on new trends

SINGAPORE

Airlines

Singapore Airlines allows captains to stay in the air longer

Retail

John Lewis opening concessions in two Robinsons department stores in July

UK

Banks

CivilisedBank latest seeking to break dominance of Barclays, Lloyds, HSBC, RBS and Santander

Capital markets

Six-month wait for new crowdfunding firms seeking Financial Conduct Authority approval

US

Capital markets

Apple replaces AT&T in Dow Jones index

Banks

Fed’s stress test can trip up even a bank like Goldman Sachs

Stress tests show at least two banks to be wobbly

Property

Owners of Mall of America plan even bigger shopping venue, ‘American Dream Miami’

Technology

Apple Watch to come in two sizes, three styles

Millennials might once again look for the time on their wrists, not on their phones