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Daily News

 

Monday
Feb092015

9 February 2015, Monday

Autos

Struggling Proton to help Indonesia develop and manufacture own national car

Banks

New rules governing how local banks should account for certain deposits on balance sheets

Sector unlikely to see downgrade even with further cut in government expenditure

CIMB closing IB operations in Australia

Acting group CEO appointed CEO of wholesale banking effective March

Capital markets

Global Carriers reprimanded; executive chairman fined RM19,500

Constitutional law

FT Islamic Council applies to intervene in Putrajaya’s appeal against ruling ordering return of CDs

Construction

Fututech executive chairman looking to fast-track growth

Employment

Employees Provident Fund paying record 6.75% dividend for 2014

Energy

Sarawak Cable zeroes in on Singapore and Australia, targeting cable sales of RM1 billion

Healthcare

Singapore tycoon, Johor crown prince injecting interests in Thomson Iskandar into TMC Life

Islamic capital markets

Troubled 1MDB calls off RM8 billion Sukuk

Legislation

Electricity Supply Act 1990 to be amended

Proposed corporate liability provision important step in fighting institutional corruption

Oil and gas

Decision on new Petronas CEO tomorrow

Property

Selangor government looking to make property development main contributor to state revenue

PKNS may put commercial property assets into REIT, list within three years

Authorities approve 80,900 units of high-rise residentials in Johor Baru

LBS Bina in no hurry to dispose of sole Chinese asset

Brisk demand for first tower of Southern Marina

Retail

BCorp may acquire licence to use RadioShack’s trademark

Telecommunications

Maxis moves into 2015 with positive momentum

Brand starting to see impact of restructuring and transformation programme

Tort

Flamboyant businessman ‘Jho Low’ denies role in blog attacks

CIMB chairman mulling legal action

Utusan Malaysia says The Edge owner needs to face media

ASIA

Aviation

100 bodies recovered from crashed AirAsia QZ8501; 72 identified

Technology

Alibaba invests US$590 million in smartphone vendor Meizu

AUSTRALIA

Intellectual property

Crown Resorts claims property developer Crown Group cashing in on casino operator’s brand

Media

Richest Australian sells stake of nearly 15% in Fairfax Media

EUROPE

Banks

HSBC’s Swiss arm helped wealthy avoid taxes and hide millions of dollars

Capital markets

IPO activity off to its best start since financial crisis

SINGAPORE

Airlines

Singapore Airlines’ Q3 income surges fourfold

Dispute resolution

Japanese accident victim’s parents reach settlement with AXA Insurance

Earnings

Genting HK’s FY14 earnings halved to US$235 million

Insurance

Life insurance sector returns to growth

S$6.8 billion paid out to policyholders and beneficiaries last year

UK

Food and beverage

British expats in US have to settle for American versions of chocolate

Insurance

Standard Life enters financial advice business

Private equity

Terra Firma putting €1 billion of own capital into deals

Exponent frontrunner to buy open-top sightseeing company Big Bus Tours

US

Financial markets

Investors piling into currency-hedged ETFs

Oil and gas

Generous compensation packages for CEOs going to survive

Philanthropy

Tech leaders among top 50 American donors to non-profit organisations in 2014

Real estate

Destruction of classic homes in LA disrupting and dividing neighbourhoods

Influx of Chinese altering make-up of towns along North Shore of Long Island

Technology

Motorola Solutions exploring possible sale

Wealth

How much of CEOs’ fortunes down to talent and luck?

Friday
Feb062015

6 February 2015, Friday

Banks

External auditors of Maybank, RHBCap queried about RM2 billion loan to 1MDB

Public Bank’s Q4 profit up 21%

Capital markets

MMC unit Malakoff can be relisted

Two more charged for insider trading of TH Group shares

Education

Perdana University partnering with San Diego’s UC after cutting ties with Johns Hopkins

Islamic finance

RHB Islamic: Industry players need to strengthen competency in developing Islamic finance

Property

Masterskill Education unit disposing of assets in PJ and Johor to private company

YNH may finally start work on long-delayed mixed development in Jalan Sultan Ismail, KL

Retail

RadioShack Malaysia not affected by US woes

Trade

Trade likely to expand at moderate pace of 2%-3%

Utilities

No increase in electricity tariff

ASIA

Gaming

Now may be the time to scoop up battered Macau casino plays

Insurance

China’s Anbang eyes controlling stake in South Korea’s Tong Yang Life

Rise of once-obscure Anbang has been an improbable one

Oil and gas

Hong Kong jeweller Chow Tai Fook makes unlikely foray into China’s oil trading business

AUSTRALIA

Airlines

AirAsia under fire over cancellation of affiliate’s inaugural Melbourne-Denpasar flight

Banks

Central bank lowers 2015 growth and inflation forecasts

EUROPE

Banks

France’s BNP Paribas expects rising taxes, new regulations to reduce 2016 earnings

Earnings

Swiss watchmaker Swatch anticipates a good year

SINGAPORE

Economy

Standard & Poor’s told not to mess with Temasek’s AAA rating

Insurance

Great Eastern posts 25% increase in Q4 profit

UK

Mergers and acquisitions

Drinks can manufacturer Rexam approached by US rival Ball about possible takeover

Temasek plotting takeover bid for software company Misys

Tax

Drugmaker Shire, accountancy firm PwC accused of extensive tax avoidance

Revolving door brings Big Four firms influence in government and inside edge

US

Bankruptcy

94-year-old consumer-electronics chain RadioShack pulls the plug

Turnaround hasn't panned out

Pharmaceuticals

Pfizer acquiring Hospira for US$17 billion; deal won’t delay any breakup of Pfizer

Financial jujitsu involved a little hard to believe

AstraZeneca buying Actavis’ branded respiratory drug business in US and Canada

Real estate

Actress’ former PA shaking up LA’s real estate industry

CBRE’s Q4 revenue jumps 25%

Technology

Apple’s HealthKit service spreading quickly among major hospitals

LinkedIn reports higher-than-expected 44% jump in quarterly revenue

Twitter appears to be closing gap to profitability

Thursday
Feb052015

5 February 2015, Thursday

Autos

DRB-Hicom having rough time in Proton turnaround

Aviation

Certificate of Practical Completion issued for klia2

Banks

Stable outlook for Malaysian banks

Capital markets

Furniweb Industrial Products to trade as PRG Holdings from Monday

Stockbroking company KAF-Seagroatt’s book value severely understated

Constitutional law

Federal Court to decide if rule barring non-Muslims from becoming Syarie lawyers unconstitutional

Insurance

Market may see smaller growth post-GST

Manufacturing

Press Metal increasing production capacity at aluminium smelter

Oil and gas

Muhibbah Engineering secures RM116 million contract for Petronas project

Petronas CEO’s contract extended by seven months; announcement on successor soon

Property

Redevelopment of former Pudu jail site kicks off in Q2

Publishing

JAWI files leave application to appeal against Court of Appeal ruling

Takaful

AIA appoints national chief agency officer, new CEO for Public Takaful

Al Rajhi Malaysia confident 20% of fee-based income for 2015 from Takaful

ASIA

Aviation

Death toll from TransAsia Airways plane crash rises to 31

Islamic finance

Indonesia pushing ahead with US$8 billion Islamic megabank

Wealth

Alibaba founder knocked off perch as China’s richest man

AUSTRALIA

Gaming

Echo Entertainment planning more development at flagship casino

Infrastructure

European IBs bulking up advisory and financing teams for A$90 billion worth of privatisations

Real estate

Fraudster’s wife only had indefeasible interest in half the property

Trade

Minister says Trans-Pacific Partnership agreement ‘within weeks’

EUROPE

Competition

Broking giant ICAP fined €15 million

ICAP challenging decision at appeal

Oil and gas

Total preparing for sale or listing of Hutchinson unit

GLOBAL

Islamic finance

Credit guarantees gaining traction

Doubts over whether Islamic finance living up to principles

Wealth

Number of billionaires up by 222 last year; slowdown in emerging markets reduced their fortunes

SINGAPORE

Financial markets

Covered bond market could open mid-2015

Insurance

AIA, Prudential and Manulife potential partner for DBS distribution deal

UK

Airlines

Hungary-based Wizz Air breathes new life into London’s stock market

Earnings

Starbucks UK finally makes a profit

Pharmaceuticals

GlaxoSmithKline’s annual profits down by half

GSK stake in Genmab up for sale

Telecommunications

BT finalises deal to buy EE from Deutsche Telekom and Orange

US

Capital markets

Apollo Global exploring sale or IPO of indoor water park operator Great Wolf Resorts

Apollo in advanced talks to acquire home security company Protection 1

Insurance

Prudential Financial’s Q4 loss widens

Intellectual property

Search firms Lateral.ly and Lateral Link locked in bitter trademark battle

Real estate

New York investors heading to Israel to raise cash

Technology

Microsoft’s third CEO making his mark on company

‘New’ Microsoft smarter and better focused than ‘old’ one

Twitter, Google strike deal

Quarterly earnings report could help decide Twitter CEO’s fate

Wednesday
Feb042015

4 February 2015, Wednesday

Arbitration

Beta Tegap and Automated Traffic Enforcement System case due for hearing in next two weeks

Aviation

Malaysia wants reporting of risks to airlines over conflict zones made mandatory

ICAO may press for rapid adoption of new aircraft tracking proposals

Capital markets

Trading in shares of Autoair Holdings, IRM Group suspended from next Wednesday

Economy

1MDB’s failure to repay debts may trigger ratings downgrade for Malaysia

Collapsing LNG prices ‘next pressure point’

Insurance

Recent heavy flooding unlikely to affect insurers

Islamic finance

Maybank Islamic now offers custodial services

Judiciary

Retired Court of Appeal judge hopes to be empanelled with KLRCA as an arbitrator

Media

Astro Malaysia-Go Shop JV could see RM500 million in annual revenue by 2019

Next three years crucial for MyTV Broadcasting

‘Pro-Jho Low’ blogger behind baseless attacks on The Edge Media Group and owner

Oil and gas

Independent storage company Vopak’s Pengerang facility starts operations next month

Property

Land in prime locations continues to attract developers

Demand for residential property set to slow further

Petronas Twin Towers to have new neighbours

Tropicana needs to do more to reduce debt levels

Tourism

Potential for cruise market growing in tandem with rising demand for tourism products in Asia

ASIA

Aviation

Six more bodies recovered from wreckage of AirAsia 8501; no evidence pilot had left seat

Insured losses from crash won't materially affect rating on Asuransi Sinar Mas

Banks

StanChart may sell retail business in Philippines

AUSTRALIA

Contract

Important decisions by appellate courts in past 12 months

Employment

Advertising company and director fined A$100k

Gaming

Echo Entertainment’s profit jumps 78% on record bets from high rollers

CANADA

Capital markets

Ontario Securities Commission mulls whistleblower programme

Employment

Hotel’s ‘attempted explanation’ for manager’s dismissal was questionable

Insurance

Fairfax Financial acquiring Ukrainian operations of Australia’s QBE

EUROPE

Antitrust

BMW, Bosch join Deutsche Bahn lawsuits against air freight carriers

Autos

New Ferrari 488 GTB hits 60 mph in three seconds flat

Tax

European Commission investigates Belgium’s tax breaks for MNCs

SINGAPORE

Capital markets

New hedge fund EVA Capital SP targets smaller construction and engineering companies

Gaming

Marina Bay Sands, Resorts World Sentosa disciplined for breaches of Casino Control Act

Real estate

Time to retire tax incentives for S-REITs

UK

Aviation

Business leaders want swift decision on London airport expansion

Employment

No adequate consideration to ex-employee for purpose of binding him to restrictive covenants

US

Autos

Toyota Motor liable for 2006 fatal car crash

Earnings

Magical Q1 for media giant Walt Disney

Financial services

Standard & Poor’s pays huge penalty for role in fuelling subprime-mortgage meltdown

Fundamental conflict of interest at heart of rating agencies’ business remains intact

Mergers and acquisitions

Prolonged battle for GFI Group littered with missteps by founder

Rating Watch status revised from Positive to Evolving

Smucker makes biggest deal in its 118-year history

Office-supply chains Staples, Office Depot in advanced talks to merge

Technology

Google looking to take on Uber in car-sharing market

Self-driving cars could prove death-knell for private car ownership

Friday
Jan302015

30 January 2015, Friday

Airlines

Disappearance of MH370 declared an ‘accident’

Malaysia Airlines begins compensation process for next-of-kin of MH370

Autos

UMW Toyota pledges to pass on savings from GST to consumers

Banks

AMMB confirms group MD stepping down

Tycoon helping beleaguered 1MDB repay loan from Maybank, RHB Bank

Capital markets

Trading in AirAsia X shares halted

MD of TH Group slapped with 53 charges of insider trading

SC statement

IPO activity could be as slow as last year, if not worse

Bursa Malaysia’s Q4 profit up 57%

Competition

MyCC maintains it is independent

Human rights

Murder of Rohingya asylum seeker casts rare light on abuse by human traffickers

Immigration

Bestinet’s biometric health check, FWCMS services suspended

Oil and gas

Reach Energy identifies acquisition targets

Property

Penang-based PLB Engineering confident about its projects

Sejati Bumijaya to develop Pasdec Putra land in Pahang into residential and commercial properties

House prices expected to rise 3% after April

Tax

All books should be exempted from GST

Shoppers Guide on prices of basic necessities pre- and post-GST available now

Telecommunications

Telcos expected to redefine strategies, launch new solutions and technologies

ASIA

Aviation

Pilots of AirAsia QZ8501 cut power to critical computer system

French first officer at controls just before accident

Banks

BOC Hong Kong may sell US$6 billion subsidiary; sale would be Asia’s No 3 bank deal of all time

Technology

Toshiba stops competing in global TV market amid fierce price war

AUSTRALIA

Commodities

Macquarie continues to expand commodities business while rivals retreat

Intellectual property

Customer lists capable of being considered trade secrets

Vegemite objects to Pizza Hut’s use of iconic spread’s name and logo

EUROPE

Capital markets

Proposed US-style capital market could raise hackles in London

Earnings

Deutsche Bank posts surprise pre-tax profit

Results demonstrate bank’s good franchise

Shell misses profit forecasts by more than 20%

GLOBAL

Corporate

Duties and responsibilities of directors

Oil and gas

2016 could be busy and lucrative time for PE firms, restructuring specialists

Tax

Latest developments in transfer pricing

SINGAPORE

Banks

DBS, OCBC and UOB should be able to weather significant rise in credit costs

Property

Developer accused of mis-selling 18-storey condominium

Technology

MMI’s revenue for FY15 to remain flat, EBITDA to decline

UK

Property

Detached family home enjoying return to favour

Telecommunications

Sky-Telefonica deal ramps up pressure in already-crowded communications market

US

Antitrust

Stage set for appeals court to consider clash between US competition law and Chinese government

Earnings

Visa’s Q1 profits helped by higher consumer spending on payment network

Food and beverage

McDonald's investors have to hope change in leadership will mean change in strategy

CEO’s abrupt exit comes after one of the worst years in McDonald’s recent history

Chain’s first British-born boss takes on top job at troubled time

Intellectual property

Photographer files copyright lawsuit against Nike over ‘Jumpman’ logo

Legal services

K&L Gates sets up new initiative for victims of ‘revenge porn’

Technology

Amazon signals new willingness to listen to investors

Google’s Q4 profit well below recent results of other tech industry standard-bearers

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