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Daily News

 

Friday
Oct032014

3 October 2014, Friday

Autos

Proton makes headway in EV plan

Aviation

MH370 could be found in days, if actually in Indian Ocean

AirAsia welcomes planned restructuring of rival Malaysia Airlines

Capital markets

MoF-controlled Bioalpha eyes listing on ACE Market

Prospectus

Owner of Muda Holdings selling his stake

Investment

Sumitomo invests in Sarawak

Sarawak top state for foreign capital in first five months

Legislation

Ministers not briefed on amendments to Inland Revenue Board of Malaysia Act 1995

Lawyers marching in rally against Sedition Act 1948 on 16 October

Property

IRIS’ pilot low-cost housing project could lift slum dwellers from poverty

Tropicana disposes of freehold land in Subang Jaya for RM37.5 million

Sport

Court of Arbitration for Sport throws out wushu champion’s appeal against doping failure

AUSTRALIA

Mergers and acquisitions

Five key lessons in the path to a successful break up

Property

Singapore-listed, Brunei-backed company snaps up city office owned by Victoria University

CANADA

Employment

Adding to employee’s workload may be constructive dismissal

Oil and gas

British Columbia ‘very confident’ Malaysia’s Petronas will move ahead with LNG project

EUROPE

Antitrust

Extensive probe into Zimmer’s US$13.4 billion bid for Biomet

Property

Germany’s IVG Immobilien seeks buyer for The Squaire

SINGAPORE

Insurance

New remuneration framework for agents from January 2016

Islamic finance

Lack of incentives among reasons for slow Sukuk issuance

UK

Accountancy

Deloittes not following KPMG in setting up UK law firm

Banks

Goldman Sachs hired to find buyers for RBS’s Coutts International

Capital markets

Virgin Money looking to raise £150 million from London listing

Mergers and acquisitions

Cereal maker Kellogg in talks with snacks maker United Biscuits

Property

334 sq ft studio flat on the market for nearly £1 million

Retail

Accounting scandal raises doubts over management and financial oversight at Tesco

Investing in Tesco a ‘huge mistake’, says Berkshire Hathaway boss

US

Commodities

Swiss trading house Mercuria close to acquiring parts of JPMorgan Chase’s unit

Financial markets

BlackRock’s iShares ETF possibly biggest beneficiary of last week’s Pimco selloff

Reaction to news of a job change by one man unprecedented

Thursday
Oct022014

2 October 2014, Thursday

Administrative law

Sabah church can initiate judicial review application over right to use ‘Allah’ in religious publications

Jill Ireland not getting CDs back on grounds of public interest

Airlines

Employees of restructured Malaysia Airlines need ‘mental recalibration’

Banks

Bank Negara Malaysia’s appeal against acquittal of former Sime Bank CEO to be heard in December

Overall asset quality of Malaysia Building Society still weak

Education

Universiti Malaya and Universiti Kebangsaan Malaysia did not submit data for annual rankings

Why UM and UKM did not participate

Fiscal policy

Fuel prices raised for first time in more than a year

Islamic finance

Bank Islam, Maybank IB and AIBIM hope for incentives under upcoming Budget 2015

Oil and gas

Tanjung Offshore seeks six-month extension of heads of agreement

Dynac calls off RM632 million proposed takeover of Goh Ban Huat

Plantations

Felda Global Ventures mum on bid for NBPOL stake after Sime Darby exit

Sport

Billionaire would not have invested in Cardiff City if he had foreseen problems

Tax

Corporate tax rate could be further cut in Budget 2015

Technology

Apple in good hands despite absence of Steve Jobs

Telecommunications

REDtone confident of recoverability of outstanding receivables in due course

ASIA

Banks

Maybank, UOB among nine foreign banks awarded limited licences in Myanmar

ANZ’s focusing on foreign MNCs and local financial institutions

Technology

‘Uber for Business’ now available in SE Asia

Telecommunications

Indonesia’s XL Axiata sells towers to Solusi Tunas Pratama to help cut mounting debt

AUSTRALIA

Competition

ACCC clears way for travel website Expedia to complete takeover of rival Wotif.com

Education

Eight Australian universities in top 200

Tax

SingTel denies claim it dodged more than A$700 million in taxes from 2004-13

Report

EUROPE

Autos

Manufacturers at Paris Motor Show turn to gadgetry, smartphone integration to woo consumers

Data protection

What constitutes personal data under European law

Islamic finance

Luxembourg first AAA-rated government to issue euro-denominated Sukuk

Cyprus potential ‘gateway to EU’ for Islamic investors

GLOBAL

Education

US, UK continue to dominate Times Higher Education World University Rankings

Rankings

Islamic finance

North Africa, Pakistan, Bangladesh and Indonesia could be new frontiers

SINGAPORE

Banks

Major breakthrough in OCBC, UOB push to cement foothold in Myanmar

Education

NTU, NUS continue upward climb

Gaming

Genting Singapore sixth most-shorted stock on benchmark Straits Times Index

Real estate

GIC to pay more than €200 million for 30% stake in Spain’s Gmp

Tort

Blumont launches libel suit against publisher and editor of The Edge Singapore

UK

Accountancy

Advising on M&A and company flotations boost EY’s revenues to £2 billion

Autos

Diverging fortunes of British and French car industries sharply mirror their national economies

Education

Universities of Reading, Dundee and Newcastle missing from top 200

Property

11-storey building at London’s Canary Wharf sold for £153.5 million

Retail

Financial Conduct Authority launches probe into accounting scandal at Tesco

US

Education

Caltech named world’s best institution for fourth straight year

Media

New York Times cutting 100 jobs in newsroom positions

Real estate

Developers looking to cash in on accelerating trend of car condos

Wednesday
Oct012014

1 October 2014, Wednesday

Aviation

Taskforce may delay recommendations on plane tracking until December

Malindo’s thrice daily KL-Singapore flights begin November

Banks

Announcement on CIMB-RHBCap-MBSB merger talks next Wednesday

Capital markets

Kenanga IB remisier fined RM100k for trading misconduct

Competition

RM439k penalty proposed on 24 members of Sibu Confectionery and Bakery Association

MyCC statement

Constitutional law

High Court to hear law lecturer’s application to challenge constitutionality of Sedition Act 1948

Earnings

Bread maker High-5’s Q3 loss narrows

Financial services

AMMB disposing of entire stake in AmCapital Indonesia to Taiwan-based Yuanta

Graft

C4 calls for Public Accounts Committee inquiry into troubled 1MDB

Oil and gas

Murphy Oil selling 30% of Malaysian assets to Indonesia’s Pertamina for US$2 billion in cash

Plantations

No reprieve yet for Malaysian planters

Sime Darby not buying 49% of New Britain Palm Oil from Kulim (Malaysia)

Sime pullout opens door for FGV to acquire NBPOL

Property

IGB’s Tan & Tan, Mitsubishi Jisho Residence jointly developing high-end Stonor 3

Rehda wants government to forgo stamp duty on property post-GST

Telecommunications

Telekom Malaysia is new holding company for P1

Tort

Ex-hockey players lose defamation suit against Malay Mail and editors

ASIA

Plantations

Indonesia drops controversial foreign ownership clause from plantations Bill

Shipbuilding

Samsung Heavy considering Indonesia, Vietnam and Malaysia for first overseas facility

Sport

Malaysian martial arts gold medallist banned for doping offence

EUROPE

Capital markets

Germany’s risk-averse ‘Mittelstand’ more ready to turn to equity financing after Alibaba listing

Mergers and acquisitions

Cement makers Holcim, Lafarge step up plans to shed assets in order to win clearance for merger

SINGAPORE

Commodities

China Investment selling part of stake in Noble Group at 5% discount

Property

CityDev makes first purchase of land for residential development in Japan

UK

Competition

Competition Appeal Tribunal quashes OFT decision

Family law

London High Court to decide if it is appropriate venue to hear ex-beauty queen’s divorce

US

Antitrust

Automotive parts manufacturer Toyoda Gosei fined US$26 million

Banks

Commerzbank directed to terminate employees who engaged in misconduct

Real estate

Rupert Murdoch’s News Corp acquires online real-estate business Move for US$950 million

Technology

Microsoft ‘Windows 10’ OS replaces unpopular Windows 8

Tuesday
Sep302014

30 September 2014, Tuesday

Airlines

Recovery plan for Malaysia Airlines in motion

Banks

Abu Dhabi concerned about Employees Provident Fund’s right to vote in mega bank merger

Capital markets

Gamuda to raise funds for working capital via employees’ share scheme

Earnings

Berjaya Corp’s Q1 profit declines

Gamuda’s strong Q4 profit attributed to higher contribution from property, concessions divisions

Gaming

Goods and services tax expected to hinder government from raising gaming tax

Legislation

MAS Act to be tabled in next Parliament session

Management

Green Ocean MD confident of turnaround

Mergers and acquisitions

Takaso Resources acquiring Dynavance Construction

Real estate

HELP University leasing Wisma Amanah Raya for 25 years

Technology

FSBM looking at some projects to tide it over

Transport

MRCB gets nod for construction of Penang transport terminal

ASIA

Property

PropertyGuru-KMK partnership to accelerate growth of Rumah.com

Technology

Lenovo acquisition of IBM’s x86 server division closes tomorrow

AUSTRALIA

Aviation

Search for MH370 enters new underwater phase; two specialist ships join hunt

Contract

Notice threatening to terminate where there is in fact no such right may be treated as repudiation

Same damages principles apply to breach of contracts for sale of business assets and sale of goods

Employment

IBM told to reinstate manager dismissed over 141 fraudulent expense claims, despite ‘valid reason’ for sacking

EUROPE

Banks

UBS in talks with regulators to settle forex rigging charges

Lloyds dismisses eight staff, recoups £3 million of bonuses

Tax

Apple said to have benefited from illegal Irish deals

GLOBAL

Energy

Surge in installations of rooftop solar panels beginning to hit utilities and business model

Legal services

Flourishing M&A activity, consolidation help push up earnings of largest 100 law firms

UK

Construction

KPMG to review Balfour Beatty’s construction services business

Insurance

Large insurers increasingly looking at infrastructure to pick up yield

Guidance for brokers when arranging business interruption cover

US

Antitrust

Japanese shipping firm K-Line fined US$68 million

Biotechnology

Companies saving on taxes by transferring patents overseas

Tax

Medical device maker Medtronic likely to try renegotiating structure of Covidien deal

Wealth

Microsoft co-founder richest American for 21st straight year

Forbes list

Monday
Sep292014

29 September 2014, Monday

Autos

Proton focusing on domestic market for new Iriz before taking it overseas

Iriz a strong contender in B-segment

Auto segment still UMW’s main income generator

Banks

Aabar, Goldman Sachs exploring options for stake in RHBCap

Capital markets

Themed Attractions and Resorts not listing this year

Formis Resources to trade as Omesti from tomorrow

PM Securities remisier reprimanded, fined RM20k and struck off

Commodities

CPO prices could rise to 2,350 ringgit a tonne by February 2015

Earnings

Tenaga Nasional expected to announce record earnings in FY14

Education

Ministry’s decision forbidding college admissions using SPM forecast results draws flak

Private institutions want ministry to reconsider

Financial services

Single licence bodes well for industry

Food and beverage

First Red Lobster restaurant in SE Asia opens its doors today

Healthcare

IHH seeking more acquisitions in China and India

Industrial law

Backlog of cases at Industrial Courts in Penang and Kuala Lumpur

Chairmen should have been notified six months ahead of expiry of contracts

International Malaysia Law Conference 2014

LHAG partners discuss issues on Personal Data Protection Act 2010

Limitation period for defamation suits should be shortened

Lawyers should take initiative to understand mechanism of GST operations

Legislation

Primitive Sedition Act 1948 must go

Oil and gas

Proposed acquisition of OGPC units necessary for Dagang Nexchange

MMC Oil & Gas Engineering plans to boost revenue via strategic M&A

UMW wants to build up O&G assets to reduce dependence on auto sector

Deleum in growth mode

Petronas CEO meeting BC Premier and minister this week

Property

YNH chairman’s investment in Malayan United Industries stirs interest

Ekovest launching five projects over next decade

Difficult for Gen Y to afford a home

Tax

New requirement in Form C represents significant increase in IRB’s scrutiny of transfer pricing

Technology

Loss-making FSBM risks falling into PN17 category

Telecommunications

Cost-conscious moves fuel speculation about real end-game of Altel’s owner

Transport

SPAD aware of rogue taxi drivers, but says only 0.8 per cent refuse to use meters

Road Transport Department going ahead with Wednesday crackdown

ASIA

Mergers and acquisitions

Japan’s SoftBank in talks to acquire Hollywood studio DreamWorks Animation

Oil and gas

Indonesia’s Medco Energi discovers new reserves

AUSTRALIA

Capital markets

Strong investor interest in Medibank Private IPO

Mergers and acquisitions

Treasury Wine Estates ends takeover talks with PE firms KKR and TPG Capital

Mining

Lynas shares down on news of another deeply discounted share issue

EUROPE

Competition

Brand owners need to be vigilant in ensuring price guidance does not cross line to become resale price maintenance

Transport

Berlin and Hamburg courts uphold bans on Uber; rulings go against previous reprieve by Frankfurt

SINGAPORE

Employment

No justification for separate test for damages

Property

Evia leads consortium to develop 546-unit Lake Life executive condo in Jurong Lake District

Overwhelming response to UOL’s Seventy Saint Patrick

US

Employment

US Open tennis officials properly classified as independent contractors, not employees

Investment

Bond king quits Pimco for smaller rival Janus Capital

Getting Janus fund to grow good measure of Gross’ ability to attract money

Legal services

Hard for rivals to poach lawyers from Cleary Gottlieb Steen & Hamilton