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Daily News

 

Tuesday
Apr142015

14 April 2015, Tuesday

Airlines

AirAsia will list Indonesia and Philippines businesses

Banks

RHBCap plans to raise RM2.5 billion in rights issue and will restructure itself

Investment

Employees Provident Fund launches Members Investment Scheme portal

Islamic capital market

Kuala Lumpur Kepong will raise up to RM1.6 billion from Sukuk

Logistics

Asdion looks to newly acquired business to steer way out of loss-making streak

Media

News portal KiniBiz goes into print

Property

Ken Holdings plans RM80 million project in Kelantan

Ewein eyes second project in Penang

Telecommunications

Telekom Malaysia, DiGi collaborate on new mobile app service

Not an exclusive arrangement

REDtone links up with Telkom Indonesia

Transport

Land Public Transport Commission’s journey planner mobile app by year-end

ASIA

Capital markets

Securities and Exchange Board of India slow to approve IPOs

Insurance

Great Eastern raises US$555 million selling shares of New China Life

AUSTRALIA

Employment

Tech giant IBM successfully defends action brought by software engineer

Judgment

Oil and gas

Australia set to topple Malaysia as Asia-Pacific’s second-largest gasoline importer by 2020

Real estate

Ivanhoé Cambridge, Blackstone Property Partners Asia to buy 25% stake in Sydney office building

EUROPE

Antitrust

Google and critics await EU decision on how to proceed with four-year-old probe against company

Telecommunications

Finland’s Nokia close to buying Alcatel-Lucent’s wireless assets

SINGAPORE

Economy

Monetary Authority of Singapore maintains policy stance

Only major economy in the world to use exchange rate as main monetary policy tool

Telecommunications

M1’s Q1 profit boosted by surge in handset sales

UK

Accountancy

Record £14 million fine against Deloitte slashed to £3 million

Eight of original 13 findings overturned

Employment

First appellate court case on meaning of ‘public interest’ in context of whistleblowing

Insurance

Key changes under new Insurance Act

US

Oil and gas

Wells Fargo helping ConocoPhillips sell some non-core US assets

Technology

Amazon.com, HarperCollins reach new multi-year publishing deal on print and digital titles

Monday
Apr132015

13 April 2015, Monday

Capital markets

Applications open for equity crowdfunding or Shariah-compliant ECF platform

Faber Group to trade as UEM Edgenta from tomorrow

Insurance

De-tariffication of motor and fire insurance premiums by mid-2016

Sole reinsurer MNRB suffers from low valuations

Investment

Employees Provident Fund ‘does not bail out people or companies’

KWAP CEO explains move to drop Bank Negara representative from investment panel

Islamic capital market

Malaysia Building Society plans third issuance of covered Sukuk worth RM900 million

Axis REIT Sukuk increased to RM3 billion

Legislation

Criticism of government or judiciary no longer seditious

Anyone can still be prosecuted for contempt of court even without use of Sedition Act

Leisure

Six Flags Entertainment seeks local partner

Pharmaceuticals

Hovid’s Tocovid Suprabio could be first Malaysian pharma product in the world

Real estate

Employees Provident Fund looking to divest assets in UK

MRCB in lead to acquire French embassy land

Retail

Shoppers’ guidebook rendered irrelevant

Technology

China could be biggest market for IFCA MSC by 2018

Telecommunications

Green Packet focuses on return to profitability

TIME dotCom disposes of 0.64% stake in DiGi.Com

Wealth management

Malaysia second-largest market for StanChart in Asean

ASIA

Economy

World Bank trims 2015-16 growth forecast for developing East Asia

Insurance

Nippon Life seeking to diversify sources of income

AUSTRALIA

Gaming

Chinese-backed casino projects in doubt after political upheaval in Queensland

Tax

Top accountants being questioned on tax avoidance

EUROPE

Autos

Chairman of Volkswagen losing his grip two years before last term ends

CEO plans to fight for his post

Aviation

Airbus needs more time to decide on revamp

SINGAPORE

Property

Late former PM’s home on Oxley Road to be demolished, as per his wishes

Penthouse at luxury condo Le Nouvel Ardmore sold for S$51 million

Tax

Australia, Indonesia scrutinising Singapore trading hubs of major commodity companies

UK

Intellectual property

No freedom for online content providers to retransmit TV programmes

Tobacco

Will tobacco companies succeed in flexing their muscles over plain packaging laws?

US

Finance

General Electric exits bulk of lending business

Further US$165 billion of assets that need to be wound down or to find new owner

Insurance

Manoeuvres to increase profits for shareholders may end up costing taxpayers and policyholders

Real estate

Real power on Wall Street has shifted from risk-averse investment banks to asset managers

Friday
Apr102015

10 April 2015, Friday

Bankruptcy

MK Land director once ranked 40th in Forbes rich list sued by Westpac

Banks

K&N Kenanga and Tokai Tokyo Financial form strategic alliance

Capital markets

Foreign investors are back despite dampened market sentiment

Education

Bank Negara Malaysia, MIT Sloan in 10-year collaboration to establish Asia School of Business

Financial services

Malaysia Building Society not in any new merger talks

Investment

1MDB needs time to liquidate assets and pay off debts

PM brushes off calls to step down over alleged mismanagement of economy

Legislation

Members of Parliament (Remuneration) (Amendment) Bill 2014 among 12 Bills passed

Private equity

Creador looking to raise fresh capital from US, Europe and Asia

Property

DoubleTree by Hilton Hotel Kuala Lumpur sold to Royal Group for RM388 million

Bina Darulaman keen on bidding for construction of proposed Kulim International Airport

Sunway acquires hardware distributors Winstar Trading and Singapore-based PND

Telecommunications

Issue of GST on prepaid mobile reload coupons resolved next month

ASIA

Oil and gas

Exxon Mobil cuts stake in Japanese oil refiner

Technology

Samsung fights for space in limelight for hotly anticipated Galaxy S6 smartphone

Galaxy S6, S6 Edge offer more bells and whistles

AUSTRALIA

Employment

Alleged bully victim who sent threatening email not constructively dismissed

Retail

Supermarket giant Coles fined A$2.5 million for falsely claiming bread was freshly baked

EUROPE

Antitrust

Google rivals now more optimistic Brussels will take action at last to curb behaviour by search giant

Mergers and acquisitions

Lafarge insider to lead combined company

Tax

HSBC under formal criminal investigation in France

SINGAPORE

Banks

OCBC opens securities unit in Jakarta

Commodities

Noble Group rebuts allegations it has unsustainable debt levels

Insolvency

Landmark ruling on rights of liquidators to access documents as they investigate insolvent company’s affairs

Telecommunications

Singtel reshuffles senior management team

UK

Banks

Stable outlook for Santander UK

Oil and gas

Land near London’s Gatwick airport could contain up to 100 billion barrels of oil

US

Mergers and acquisitions

Theatrical production company Cirque du Soleil in advanced talks to sell  majority stake

Professional networking site LinkedIn branches out yet again with acquisition of online learning company

Real estate

Blackstone and Wells Fargo poised to buy most of General Electric’s portfolio

Orlando’s Pine Hills seeing newfound demand

Thursday
Apr092015

9 April 2015, Thursday

Aviation

Search for MH370 winding down with no answers about fate of those on board

Banks

AmIslamic Bank, BNP Paribas announce new chiefs

Capital markets

Malakoff taking orders next week for IPO

Competition

Application for judicial review on conditional Block Exemption Order dismissed

Earnings

LPI Capital’s Q1 profit rises on better results of insurance subsidiary, Lonpac

Employment

Government considers alternatives to MyEG monopoly on renewal of foreign work permits

Investment

i-VCAP Management’s first regional Islamic ETF will be listed in May

Islamic capital market

CIMB Islamic’s collateralised Sukuk potential trendsetter in Malaysia

Legislation

Malaysian Aviation Bill 2015 passed; second reading of four Bills deferred

Oil and gas

Sumatec Resources focusing on E&P despite sharp fall in crude oil prices

APFT eyes EPCC jobs in Pengerang, Johor

Property

Gadang seeks to increase presence in Klang Valley

UEM Sunrise unveils plans for Gerbang Nusajaya in Iskandar Malaysia

AUSTRALIA

Oil and gas

Apache exits Australian exploration and production business

Property

Salta Properties and Malaysia’s Asia One building high-rise tower in Melbourne

Chinese national shells out A$25 million for penthouse at yet-to-be-built tower

Technology

Singtel-Optus wins ATO contract despite latter’s ongoing investigation into tax payments

SINGAPORE

Gaming

Marina Bay Sands, Resorts World Sentosa can’t collect from high rollers who don’t repay debts

Insurance

Canada’s Manulife reaches S$1.6 billion ‘bancassurance’ deal with DBS

High renewal costs reason behind end of Aviva-DBS partnership

Intellectual property

Uphill task for copyright owner of Dallas Buyers Club to sue over movie download

Technology

GrabTaxi invests US$100 million in first R&D centre

Media

France’s Vivendi not reaching for Sky

Reuters report

Oil and gas

Shell-BG tie-up closing the gap on ExxonMobil

Not buying BM-S-9 would be a big loss

BG deal bolsters fortunes of Goldman Sachs, Bank of America Merrill Lynch and Robey Warshaw

Shell’s purchase adding to already robust year for M&A advisers

US

Consumer goods

Procter & Gamble shedding laggard assets, exploring IPO of some beauty brands

Insurance

AIG one of three property insurers cleared to use drones for inspections

Oil and gas

Oil giants need to be selective in energy takeover bets, particularly in US shale sector

Real estate

China Life, Ping An co-invest in real estate outside of home country for first time

Technology

Apple Watch gets poor marks for battery life and slow-loading apps

Apple has to persuade people that they need technology on their wrists

Wednesday
Apr082015

8 April 2015, Wednesday

Airlines

Experts cautious on how profitable AirAsia X’s new KL-Honolulu route will be

Banks

Daiwa, HSBC and SMBC Nikko advising on Maybank’s debut Samurai bond

First Malaysian bank to venture into China’s Yunnan Province

Earnings

China-based Kanger targeting revenue growth of 30% for FY15

Financial management

Ministries still found to have weak internal control systems

Healthcare

Singapore-listed Health Management International plans to sell Mahkota Medical Centre in Malacca

Investment

Prokhas brought in to help 1MDB resolve cash-flow problems

Islamic capital market

Securities Commission approves Taliworks’ proposed RM210 million Sukuk

Media

Asian Broadcasting Network’s TV broadcast licence intact despite shutdown of news division

Oil and gas

Decline in price of crude oil will spur fresh round of M&A among local players

Construction of Yan Petroleum Industrial Zone in Kedah begins next year

Shell Malaysia laboratory in Lutong set to be one of largest in country

Property

German Embassy land sold to MRCB for RM259 million

Encorp, Felda explore possible collaboration

GuocoLand’s Q3 profit down 26%

Unmarried couples buying real estate together in desperate bid to get foot on property ladder

Tax

Association of Hotel Employers meeting with ministries to discuss service charge

Telecommunications

Lack of transparency in pricing, subscription plans may lead consumers to switch service providers

DiGi.Com worst hit if telcos cannot pass on GST to consumers

AUSTRALIA

Banks

Federal Court overturns ruling on credit card fees

Evidence

Barrister invokes arcane spousal privilege principle to avoid A$146 speeding fine

Health

Vigorous exercise can significantly reduce early mortality

Intellectual property

ISPs must release IDs, addresses of users who shared Hollywood blockbuster, Dallas Buyers Club

Copyright trumps our human right of privacy

EUROPE

Mergers and acquisitions

FedEx to acquire TNT Express in US$4.8 billion deal

Merger comes less than two years since European regulators blocked UPS bid for TNT

Technology

Swiss army knife maker Victorinox launching smartwatch end-2015 or early 2016

SINGAPORE

Intellectual property

Those who downloaded Oscar-winning film illegally may now have to face the music

Real estate

Developers faced with ticking clock on high charges for unsold units unlikely to cut prices

Technology

Singtel expands cloud-based services via acquisition of US-based Trustwave

UK

Construction

List of ‘objectionable’ adjudicators was compiled recklessly or deliberately falsified

Oil and gas

BG in advanced talks regarding possible offer by Shell

US

Intellectual property

Omega cannot sue discounter Costco for selling its watches below preferred price

Legal services

Law-firm mergers off to a quick start