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Daily News

 

Friday
May062016

6 May 2016, Friday

Airlines

AirAsia said to be studying merger of two subsidiaries

Capital markets

R&A Telecommunication could be suspended next week

Construction

Vivocom bags second contract in Perak, this time for RM160 million

Earnings

Texchem Resources expects challenging business environment for 2016

Three-A anticipates satisfactory FY16

Wing Tai records loss

Financial services

Singapore-based GoBear, aspiring to be ‘TripAdvisor for finance’, launches Malaysia website

Malaysia Building Society ramping up efforts to become full-fledged financial institution

Gaming

Criminal Investigations Department wants to put illegal 4D bookies out of business for good

Healthcare

Khazanah Nasional, Mitsui take up combined 40% stake in DaVita-led JV on kidney care services

Intellectual property

Lesser-known types of IP rights

Islamic capital market

AAA-rated Islamic Development Bank returning to Malaysian Sukuk market

Management

DRB-Hicom MD is new Proton chairman

Manufacturing

Lion subsidiary Megasteel granted three-month restraining order against creditors

Oil and gas

Consolidation, if it does happen, will be on small scale

Another round of job cuts likely

Property

DRB-Hicom aborts sale of Corwin, owner of The Verge mall in Singapore

MWE looking to sell leasehold lands, stake in golf & country club to Newfields Land units

Expect prices in KL’s Taman Tun Dr Ismail and Bangsar to rise further

Research on potential buy now more critical than ever

Technology

Globetronics hopes things will look up in H2

Utilities

Tenaga Nasional, Pengerang Power ink PPA

ASIA

Autos

Germany’s Borgward, which hasn’t built a car since 1961, courting Chinese buyers

Capital markets

Companies reluctant to wait in long China IPO queue acquire taste for RTOs

JPMorgan Chase’s reputation dealt a blow

Insurance

Manulife’s core earnings up 14%, seeks new partners in Asia

Technology

Huawei eyeing 15% market share in South Pacific region

AUSTRALIA

Banks

Reserve Bank of Australia will have a new governor in September

Record result for Macquarie

CEO on track to become nation’s highest-paid listed company boss

Insurance

Insured failed to establish right to indemnification under policy

SINGAPORE

Management

Singtel chairman takes on added responsibility of heading SingPost board

Property

Oxley's Q3 earnings quadruple

Developer on lookout for opportunities in East London and Europe

Telecommunications

New MVNO Circles.Life betting on attracting digitally savvy customers

Analysts unsure Circles.Life has a fighting chance

StarHub’s Q1 profit up 26% despite lower revenue

UK

Capital markets

Luxury chocolate retailer Hotel Chocolat raises £55.5 million through AIM listing

Pharmaceuticals

GlaxoSmithKline focusing on boosting performance of consumer division

Real estate

Malaysia’s Lembaga Tabung Haji selling London HQ of law firm King & Wood Mallesons

‘Bank of Mom and Dad’ facing funding crisis

US

Arbitration

New York is top US venue, fifth most popular in the world for international arbitration

Gaming

Genting clears key hurdle in efforts to break into Las Vegas market

Mergers and acquisitions

M&A withdrawals cost investment banks US$1 billion in potential fees

Real estate

Relative bargains in horse-centric properties still possible

Thursday
May052016

5 May 2016, Thursday

Airlines

Newly appointed Malaysia Airlines ED confident problems plaguing airline can be fixed

Carrier collaborating with Amadeus on new passenger service system

Earnings

Daibochi Plastic and Packaging’s Q1 profit up 5%

Financial services

Montpelier closes KL office, transfers client business to Labuan-regulated Three Sixty Financial

Food and beverage

Fraser & Neave’s Q2 profit up 28.5% on higher sales, better product mix

F&N beefing up capacity in Malaysia

Infrastructure

96 companies shortlisted for various jobs on RM9 billion LRT 3 project

Investment

Finance ministry to dissolve 1MDB board of advisers

Ownership of Bandar Malaysia, TRX City, Air Itam land and Pulau Indah land transferred to MoF

Islamic finance

Malaysia spearheading establishment of world’s first Islamic venture capital

Manufacturing

Chin Well anticipates 10% decline in sales due to competition from China

Property

Kimlun wins RM166 million contract in Selangor

Takaful

MAA Takaful sold to Zurich Insurance

Technology

Facebook opens local office

Telecommunications

DiGi introduces Internet-sharing feature

Loss-making R&A to acquire Sumatec’s 49% stake in shipping firm as part of regularisation plan

Tort

Minister’s suit against Malaysiakini and reporter to be heard in August

ASIA

Intellectual property

Little-known accessories maker Xintong Tiandi can use ‘iphone’ label on luxury leather goods

Real estate

Change is coming — and fast — to Bangkok’s Chinatown

Technology

India forbids refurbished iPhones

AUSTRALIA

Competition

ACCC clears AB Inbev’s planned takeover of rival SABMiller

Company’s conduct offshore can still potentially open it to scrutiny by Australian authorities

Employment

Qantas pilot sacked for serious misconduct loses bid to have dismissal reviewed

CANADA

Competition

Volkswagen, Audi under probe

Tort

Monetary compensation in response to potentially devastating impact of online defamation

Decision

EUROPE

Autos

Volvo banking on investment plan to secure firm foothold in premium market

Oil and gas

Shell’s Q1 profit beats estimates

Shipping

Maersk’s Q1 revenue down almost 20%

Tobacco

Philip Morris, Imperial Brands and BAT lose legal challenge

SINGAPORE

Banks

HSBC’s most senior SE Asia dealmaker said to have left for European buyout firm CVC Capital

Investment

Temasek backs Singapore Diamond Investment Exchange

UK

Insurance

France’s Axa in talks to sell remaining UK life and savings assets

Mergers and acquisitions

Intercontinental Exchange won’t gatecrash London Stock Exchange-Deutsche Börse merger

US

Autos

US expands Takata recalls

Insurance

MetLife’s Q1 profit misses estimates

Real estate

Qatar in talks to buy luxury St Regis hotels in New York and San Francisco

Restaurants

Subway revenue down for second straight year

Tort

Second straight trial loss for Johnson & Johnson

J&J says claims contradicted by scientific evidence

Wednesday
May042016

4 May 2016, Wednesday

Banks

AmBank’s largest shareholder ANZ makes massive impairment charge

Capital markets

Kulim gets shareholders’ nod to delist

Trading of Maxwell, Multi Sports shares could be suspended

Dispute resolution

Former project director told to pay Ho Hup RM10 million

Earnings

Synthetic glove manufacturer Hartalega’s Q4 profit up 12%

Press Metal’s Q1 profit soars

Financial services

Employees Provident Fund helping Malaysia Building Society look at capital requirements

Investment

Investors in 1MDB, Bandar Malaysia notes not expected to call for acceleration of bonds

EPF says no notice of cross default on 1MDB’s RM5 billion Sukuk

Cash-rich EPF plans to increase long-term domestic investments

Islamic finance

OCBC Al-Amin saw strong growth in 2015

Management

Malakoff appoints new group MD

Oil and gas

Hibiscus Petroleum scraps plans to acquire Hydra Energy

Plantations

Felda withdraws certificates of environmental sustainability from 58 processing mills

Withdrawal of RSPO certificates could hit Felda’s earnings

Property

LBS Bina optimistic of achieving RM1 billion sales target

Developer hopes to transform Brinchang into vibrant township via Cameron Centrum project

Hong Kong-based Nan Fung disposing of several land parcels in Kuala Lumpur

ASIA

Banks

Hong Kong freezes bank accounts of unnamed individuals amid global probe into 1MDB

Investment

Major obstacles preventing more significant investment in ESG assets

AUSTRALIA

Employment

Limits on doing ‘whatever it takes’ to convince someone to work for you

Property

Blackstone could acquire five industrial buildings from Malaysia’s Sime Darby

EUROPE

Autos

BMW’s Q1 profit slips as it grapples with mounting competition from Mercedes, Tesla

Banks

BNP Paribas profit beats expectations, but IB arm hit by volatile market conditions

UBS Q1 profit misses estimates

SINGAPORE

Corporate governance

SingPost director taken to task

Food and beverage

Sushi chain Sakae’s revenue hurt by weaker market sentiment, competitive local F&B sector

UK

Banks

HSBC’s cost-cutting measures starting to bear fruit

Retail

Insolvency Service to look into circumstances surrounding BHS’ slump into administration

US

Antitrust

Barclays, Credit Suisse, Deutsche Bank and RBS settle rate-rigging lawsuit

Cosmetics

Estée Lauder’s Q3 results hurt by declining fortunes of core skin care business

Millennials want products that provide more immediate results

Earnings

2016 might not be a total wash for corporate profits

Oil and gas

US oil industry not even halfway through wave of bankruptcies

Real estate

Ex-broker trying his hand at building lavish homes for the wealthy amid luxury-condo glut

4,730 sq ft five-bedroom condo with ocean views on the market for US$18.5 million

Tuesday
May032016

3 May 2016, Tuesday

Airlines

Local carriers might revise base fares to absorb DCA fee hikes

Autos

Proton CEO and deputy speak about their tasks ahead

Banks

Royal Bank of Scotland latest to come under investigation on transfer of funds linked to 1MDB

Capital markets

Stocks may come under pressure

Bina Puri jumps on report it could grab RM1 billion Kota Kinabalu contract

Constitutional law

National Registration Department drops appeal against Sarawakian Bidayuh

Earnings

Overall corporate earnings will be weaker than last year

Ibraco confident of achieving another fruitful year, following a rewarding 2015

YKGI records smaller loss

Insurance

Rollout of scheme for the jobless questionable

Legislation

Minimum Wages Order 2016 coming into effect in July

MEF expects 60,000 workers to be retrenched if MWO 2016 enforced

Manufacturing

Lion chairman insists government protection only way to stop steel makers from bleeding further

Oil and gas

Downturn could give Petronas president/CEO more leeway to implement reforms

Plantations

Astral Asia looking to increase land bank

Felda Global Ventures may withdraw RSPO principles and criteria certificates

Property

Some developers may not meet sales targets

Mulia’s Signature Tower in Tun Razak Exchange among world’s 15 tallest buildings when completed

GuocoLand may emerge as one of Eco World International’s anchor investors

SP Setia acquires fifth piece of land in Australia for A$101 million

Aeon aborts RM36 million Kedah land acquisition deal, seeks refund

Retail

National chain retailers need to expand

Lazada focuses on making service more accessible in east Malaysia

Telecommunications

Webe will be different from UK-based MVNO Giffgaff

ASIA

Media

Jack Ma aims to transform South China Morning Post into global media agency

Tobacco

Japan Tobacco’s Q1 profit rises

AUSTRALIA

Banks

ANZ cuts dividend for first time since 2009; six years of record earnings coming to an end

Technology

Australian identifies himself as bitcoin creator, experts sceptical

Evaluating his claim involves application of multi-step paternity test

EUROPE

Autos

Italian luxury carmaker Ferrari on course for record 2016

Insurance

Allianz’s Q1 profit beats estimates

SINGAPORE

Banks

DBS posts higher profit; last Singapore lender to report Q1 earnings

Capital markets

Canada’s Manulife seeks up to US$470 million in second attempt at Singapore IPO of US properties

UK

Sport

Leicester City crowned Premier League champions for first time in 132-year history

Leicester’s triumph will spark interest in the world of business

Technology

SoundCloud expands new subscription service to UK and Ireland

US

Antitrust

Halliburton and Baker Hughes nix merger

Regulators may have already made up their minds to say no regardless of what companies did

Insurance

AIG reports lower-than-expected profit for third straight quarter

Real estate

Dalian Wanda and Chicago developer to build US$900 million skyscraper

Technology

Considerable debate as to whether bitcoin can truly develop without blockchain

Friday
Apr292016

29 April 2016, Friday

Aviation

Abrupt exit of Malaysia Airlines boss puts pressure on Khazanah Nasional to keep show on the road

Experience in management and transport industry not enough to make one worthy of top job

Banks

May deadline for troubled 1MDB to pay Bank Negara Malaysia fine

BNM statement

Capital markets

Two major shareholders of EcoWorld pumping RM584 million via private placement exercise

Not right time for Ekuinas to list Ilmu Education Group

Muhibbah Engineering proposes private placement

Gaming tycoon wants to take Karambunai Corp and Petaling Tin private

Earnings

Gadang’s Q3 profit soars 55%

Westports’ profit rises thanks to record throughput

Family law

Tycoon can now move on to divorce former Miss Malaysia

Intellectual property

CEO of PlaTCOM Ventures explains types of IP

Management

New Lembaga Tabung Haji MD/CEO takes over from July

Pasdec MD on temporary leave of absence amid probe into possible mining-related corruption

Media

Astro Malaysia ventures into Philippines

Oil and gas

Legal tussle between CLIQ Energy and Securities Commission Malaysia starts next Friday

Property

DPS Resources inks JV agreement for Malacca project

Takaful

Industry set to double growth rate

Telecommunications

Webe wireless Internet service will be rolled out mid-2016

U Mobile launches Video-Onz service

Transport

Putrajaya should declare Uber, GrabCar illegal

ASIA

Earnings

Panasonic profit rises on restructuring

Financial services

Citigroup’s Asia credit card payment processing business on the block

AUSTRALIA

Competition

Colgate-Palmolive conspired with Unilever, Cussons and Woolworths to manipulate laundry detergent market

Earnings

Chairman of dairy company Bega wants to break history of meagre returns

Employment

Dealing with social media misuse

Decision

EUROPE

Banks

Deutsche Bank’s Q1 profit beats expectation

Technology

Logitech reports best annual retail sales growth in five years

SINGAPORE

Banks

OCBC joins smaller rival UOB in reporting lower income amid economic downturn

Ex-BSI manager charged with cheating and obstructing justice

Gaming

Genting Singapore liquidates dormant investment holding company

Property

Blackstone stitching deal to buy majority interest in three Sime-Darby-owned properties

CapitaLand’s Ascott acquiring prime property in London

Ho Bee Land’s Q1 earnings surge on contributions from overseas investments

UK

Accountancy

PwC’s long-serving restructuring specialist to lead UK and MidEast business

Banks

Royal Bank of Scotland likely to miss deadline to offload 300 Willliams & Glyn branches

Employment

Former Citi trader sues for unfair dismissal

Real estate

London & Regional Properties preferred bidder for 47 UK hotels

US

Earnings

LinkedIn raises 2016 revenue and profit forecast

Employment

Rejected CPA accuses PwC of hiring younger applicants to maintain youthful culture

Mergers and acquisitions

Abbott Laboratories acquires St Jude Medical for US$25 billion

Pharmaceuticals

Pfizer to decide on separating business that sells older drugs by year’s end

Real estate

Landlords have to work harder to secure tenants in Manhattan

Technology

Amazon’s results blow past analysts’ expectations

China’s attitude towards Apple drove billionaire activist investor’s exit

FBI won’t tell Apple about security flaw it exploited to break inside gunman’s iPhone

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