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Daily News

 

Tuesday
Apr122016

12 April 2016, Tuesday

Aviation

Department of Civil Aviation in further talks on proposed fee hike with airline operators

Troubled Rayani Air grounded for three months

DCA should be queried

Real reason behind Rayani's very, very short flight time

Banks

Hotelier and two others acquire indirect 14.8% stake in Alliance Financial

Construction

Segment expected to grow 8%-10%, driven by government infrastructure projects

Economy

Growth forecast downgraded

Employment

Former V-P dismissed on grounds contract had expired awarded RM543k

Graft

Mystery over British Virgin Islands-registered entity deepens as IPIC, Aabar Investments deny links

Transcripts highlight PM’s involvement in decisions on questionable transactions

Snapshot of probes related to 1MDB

Investment

Linde subsidiary invests RM33 million in Tanjung Kidurong

Islamic finance

AmBank Islamic focused on developing asset quality

Legal profession

26th Inter-Pacific Bar Association meeting kicks off tomorrow

LHAG partners speaking at IPBA conference

Real estate

Tun Razak Exchange, Bandar Malaysia projects ‘real legacy’ of 1MDB

Far East Hospitality launching first hotel under Oasia brand outside of Singapore

LBS Bina makes unconditional mandatory takeover offer for ML Global

Strong investor appetite for M-REITs

Sime Darby Property MD confident of achieving full-year target

Retail

Japan’s FamilyMart opening by end-2016, plans 300 stores here over five years

Telecommunications

Axiata completes acquisition of 80% stake in Nepal’s top mobile telecoms network operator

Tort

Assemblyman’s remarks on illegal hill clearing by landowner did not contain defamatory meaning

Transport

Uber, GrabCar drivers increasingly fear for their safety

MoU for KL-Singapore HSR by June

ASIA

Capital markets

Nomura shutting down European equity operations

Oil and gas

Pertamina looks for projects in Iraq, Saudi Arabia and Russia

Tax

Indonesia cutting corporate tax rate from 25% to 20%

Technology

South Korea’s LG expects best quarter in two years

AUSTRALIA

Consumer law

Foreign corporation could not side-step consumer protection provisions

Decision

Currency

New A$5 bill in circulation from September

EUROPE

Luxury goods

Prada hit by China slowdown, crackdown on extravagant gifts; LVMH’s Q1 sales below forecasts

Mergers and acquisitions

Opposition growing to Deutsche Borse’s planned merger with London Stock Exchange

Privacy

Legality of Britain’s surveillance laws under scrutiny

SINGAPORE

Family law

Muslim couple’s divorce shows up lacuna between Syariah and civil law

Insolvency

Co-founder of Hour Glass applies to set aside ANZ’s summary judgment

Oil and gas

Marine, offshore engineering companies turn to cruise ships, fishing vessels to keep earnings afloat

Property

Sequoia Capital-backed Houzz aiming to capture slice of S$10 billion local remodelling market

Technology

Asia seeing surge in interest in high-res audio

UK

Competition

Competition and Markets Authority has ‘serious concerns’ about £10 billion Three-O2 merger

Insurance

Rothesay Life reports 42% jump in profit, to buy £6 billion of annuities from Aegon UK

Retail

Tesco draws up plans for clearout of loss-making businesses

US

Real estate

Manhattan builder Extell retreating from original plan for One57 tower

Tax

Proposed changes could force foreign firms to adopt more conservative US tax-planning strategies

Monday
Apr112016

11 April 2016, Monday

Airlines

Rayani Air promises to address weaknesses, comeback

Autos

Special task force to monitor Proton’s transformation plan

Capital markets

Two new directors at Securities Commission Malaysia

Constitutional law

Syarie lawyer explains landmark Federal Court decision that only Muslims can practise Shariah law

Earnings

Forex volatility unlikely to significantly affect Classic Scenic’s financial performance this year

Engtex expects better results

Investment

Implications of PAC report on former 1MDB CEO

Jho Low introduced PetroSaudi CEO

Medical equipment

Malaysia expects more growth in medical devices sector

Boston Scientific’s new plant in Penang operational next year

Negligence

Lawyer successfully sues gynaecologist for RM165,375 in damages

Oil and gas

Chairman of Cekap Technical Services yearns to get project management firm listed

CLIQ Energy files judicial review application to prevent company from being liquidated

Sona Petroleum all out to convince shareholders to vote for QA

Retail

Asia Brands’ fortunes unlikely to turn around soon

Parkson confident new mall in China will attract strong retail interest

Telecommunications

Free upgrades for MaxisONE plan customers

Tort

RM1 billion libel suit against former tourism minister struck out

ASIA

Banks

StanChart selling US$4 billion of assets in Asia

Insurance

Singaporean PE firm wants Tokyo review of price Nippon Life paid for Mitsui Life stake

Real estate

Godrej Properties among select group of large developers weathering downturn in India

Technology

Asia-Pacific’s private banks cautiously taking note of fintech start-ups

AUSTRALIA

Banks

Australian lenders no longer exemplar of success

ANZ weighing sale of AmBank stake, wants to lower 20% stake in Chinese lender

Gaming

Gambler fails to shake off  A$620k debt to Resorts World Sentosa

SINGAPORE

Property

CityDev names deputy CEO, new CFO

Shipping

PACC, Makamin Offshore spat set to heat up

UK

Architecture

London skyline could include first timber skyscraper, The Toothpick

Real estate

Singapore Warehouse Company owns half of freehold Clerkenwell property

Tax

UK to make companies criminally liable if employees aid tax evasion

US

Banks

Analysts expect poor Q1 results, forecast 20% decline in earnings from six biggest banks

Fine print in Q1 results, and what bosses say, could help stocks bounce back

Capital markets

MGM Growth Properties targeting US$1 billion in largest IPO so far this year

Technology

Parent company of UK’s Daily Mail in talks about possible bid for Yahoo! Inc

BMW to go toe to toe with Uber; starting ReachNow in Seattle before expanding to other US cities

Friday
Apr082016

8 April 2016, Friday

Autos

Weaker consumer sentiment, tighter lending continue to underpin sales of new cars

Perodua exporting Myvi 1.5SE, Alza 1.5SE to Brunei

Banks

Maybank focusing on expansion within Asean

Capital markets

Lembaga Tabung Haji ups stake in Reach Energy

1MDB closely watched as investors evaluate impact of Public Accounts Committee report findings

Construction

Malaysian companies encouraged to explore opportunities in India

Dispute resolution

TAS Offshore plans legal action against QMS1 Offshore Services

Entertainment

Malaysian cinema on a roll

Insurance

LPI Capital’s Q1 profit up thanks to stronger performance from Lonpac Insurance

Press Metal awarded RM70 million in compensation for fire incident

Investment

1MDB racked up RM5 billion in debt shortly after inception

Public Accounts Committee finds US$4 billion of questionable transactions

Management acted without properly informing or attaining special approval from board of directors

Fund changed auditors twice in four years

Switzerland stepping up probes into troubled 1MDB fund and Petrobras

Legislation

Key features of new Companies Bill 2015

GLCs, A-G’s Chambers in discussions on possible State-Owned Enterprises Act

Manufacturing

Japan still Malaysia’s biggest foreign investor

Plantations

Unilever, Mars and Kellogg’s drop IOI

Property

EcoWorld can proceed with proposed listing

Mah Sing lauds MyDeposit

Retail

IKEA Johor Bahru opening in 2017

Tax

Tax mitigation may be ethically wrong for politicians

Technology

Cyberjaya wired with ‘region’s fastest’ broadband service

Utilities

Selangor water industry restructuring nearing closure

ASIA

Insurance

JD Capital, Country Garden and Sun Life among second-round bidders for Dah Sing unit

Retail

Uniqlo parent struggling to drive more consumers to its tills

CANADA

Financial crime

Lawyers second most likely after entrepreneurs to face money laundering charges

Mergers and acquisitions

Simpson Thacher; Osler Hoskin and White & Case top three law firms in league tables

SINGAPORE

Airlines

Singapore Airlines raises stake in Virgin Australia to 23%

Management

Apparent flip-flop poses yet another setback to SingPost

Real estate

Industrial property sector facing a surge in supply, unlikely to see benefits from e-commerce

UK

Oil and gas

Premier Oil shareholders to vote on takeover of E.ON UK’s North Sea assets on 25 April

Retail

Improving ‘unsatisfactory’ clothing sales ‘no 1 priority’ for Marks & Spencer CEO

Tort

King & Wood Mallesons to pay damages over negligent advice

US

Autos

Swanky sports cars losing momentum

Graft

Las Vegas Sands reaches settlement with Securities and Exchange Commission

Mergers and acquisitions

2016 starting to take nightmarish turn for Wall Street’s top dealmakers

Spat shows great companies reduced to shifty deal junkies obsessed with financial fixes

Technology

Verizon, Google may bid for Yahoo’s core business

Thursday
Apr072016

7 April 2016, Thursday

Autos

Proton pushed into corner by growing rift between former and current PMs

Aviation

Malaysia Airlines on track to return to the black by 2018

Malaysia Airlines caught offguard by DCA move

DCA wants to weed out new airlines without proven track record

Capital markets

Guidance Note 3 company Wintoni’s CFO and three directors resign

Constitutional law

Lawyer discusses significance of ruling on Sarawakian Bidayuh allowed to change religion

Employment

DiGi Telecommunications institutes new global six-month standard maternity leave

Graft

Petronas has zero-tolerance policy towards bribery and corruption

Intellectual property

Pentamaster Instrumentation seeks injunction against Elsoft Research and subsidiary

Investment

Former CEO responsible for 1MDB’s ‘weaknesses and constraints’

Islamic capital market

Cahya Mata Sarawak plans to raise RM1 billion from Sukuk

Oil and gas

Reach Energy sees no pressing need for fundraising to finance capex

Property

Employees Provident Fund buys portfolio of industrial and logistics assets in UK for RM1 billion

Birmingham Mail report

CapitaLand’s Ascott to manage Titijaya’s serviced residence projects in Penang and Selangor

The Yeangs’ Y Cantonments targets retirees, bigger families; slated for completion by end-July

Takaful

AIA Public Takaful optimistic of capturing larger bumiputera market

Tax

MKYS Construction fined RM15k for non-compliance with Goods and Services Act 2014

ASIA

Islamic finance

Indonesia allows Shariah-compliant pension funds for first time

Technology

Samsung’s Q1 profit beats expectations

AUSTRALIA

Competition

Competition in container ports and stevedoring services could be affected by Asciano takeover

Employment

7-Eleven store owner allegedly underpaid staff and kept false records

EUROPE

Retail

Hennes & Mauritz’s Q1 profit down 30%

Tax

Impact of Panama Papers snowballing; football body UEFA raided

GLOBAL

Corporate governance

Information overload no excuse for bosses ducking responsibility

Health

Diabetes a major problem in poorer countries

SINGAPORE

Management

SingPost hunts for new chairman

Real estate

Ascendas Hospitality calls off plans for sale as new bids still too low

Retail

British brand New Look, French menswear chain Celio bowing out

Wealth management

Bank of Singapore using own cash to fund purchase of Barclays’ wealth operations in Asia

UK

Banks

HSBC, RBS and Barclays reducing branch networks

Real estate

Bulk buyers of London luxury apartments may be hard to find even with 20% discount

Retail

London’s Savile Row now has a female master tailor

Tax

Britain’s link to firms based in tax havens exposed

US

Mergers and acquisitions

US$750 million in fees at stake if all seven pending inversion deals also cancelled

Administration’s moves tempering plans for big, risky transactions

Pfizer has to get bigger or break apart

New rules also clamp down on earnings stripping

Technology

Facebook Live gets prominent placement

WhatsApp rolls out full encryption for its service

Wednesday
Apr062016

6 April 2016, Wednesday

Aviation

Department of Civil Aviation charging higher fees starting next week

Malaysia Airlines re-commissions B747-400 aircraft

Caterer’s contract may be terminated; quality of in-flight food not what it used to be

Kuala Lumpur Aviation Fuelling System claiming RM456 million from Malaysia Airports

Capital markets

Salutica can proceed with proposed IPO on ACE Market

Construction

MRCB Builders to build 140,000 sq ft cold storage hub for Giant

Criminal law

Lawyer ‘vindicated’ as MACC finally admits wrongdoing over 2007 wrongful arrest and prosecution

Graft

Former Goldman Sachs star banker wrote unauthorised reference letter on behalf of Jho Low

Ranhill refutes Australian media reports that it offered Monaco-based Unaoil US$40 million

Islamic finance

Central bank approves of new Al Rajhi CEO

Petronas teams up with Bank Islam

Institutional funds putting pressure on companies to be ESG-compliant

Media

Internet TV start-up iflix launching own original TV shows

Oil and gas

Shell imports Malaysian Bintulu condensate into US

Real estate

RHB Research revises rating for IOI Properties, UOA Development and UEM Sunrise

PJ folk melancholic about demolition of British American Tobacco factory

Pavilion REIT keen on yield-accretive acquisitions

Pelaburan Hartanah seeking properties that can be injected into Amanah Hartanah Bumiputera

Tax

PM’s son has cut ties with British Virgin Islands-based companies implicated in Panama Papers

ASIA

Logistics

JD.com-Yamato tie-up a first between major Chinese online retailer and large Japanese logistics business

Technology

Samsung regains smartphone share in India, Apple readies renewed push

AUSTRALIA

Legal services

Crucial bank deadline for embattled Slater & Gordon passes without any formal announcement

GC quits after less than 60 days on the job

Real estate

Property market beginning to slow

EUROPE

Legal services

British American Tobacco’s regional general counsel leaving after nearly 25 years

Real estate

AccorHotels acquires British high-end serviced home rental company onefinestay

SINGAPORE

Banks

Unclear whether staff exits at BSI Singapore related to 1MDB

Increasingly challenging operating conditions for DBS, OCBC and UOB

Competition

Public feedback sought on proposed Singapore Airlines-Deutsche Lufthansa JV

CCS statement

Islamic finance

RB Capital and Maybank ink S$260 million deal, one of Singapore’s biggest

Technology

LinkedIn has spent S$80 million on first data centre outside US

UK

Banks

Barclays warns of lower profits in investment banking arm

Legal profession

Legal Services Board investigation finds fixed fees becoming far more common

US

Antitrust

Justice Department filing lawsuit to block Halliburton-Baker Hughes merger

Mergers and acquisitions

Pfizer, Allergan mutually terminate merger

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