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Daily News

 

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

Friday
Sep262014

26 September 2014, Friday

Accountancy

Country needs 60,000 accountants by 2020

Academicians should back move to amend Accountants Act 1967

Autos

Perodua could attain 30% share in domestic car market by end-2014

Proton confident new Iriz will revive flagging fortunes

Aviation

PM speaks out for first time on MH17

CNN interview

Competition

Attempted price fixing of ice cubes, MAS-AirAsia deal among 47 cases under investigation

‘Help Us Detect Bid-Rigging’ handbook

Construction

MTD ACPI Engineering sets its sights on expanding more in overseas markets

Financial services

iMoney ready for next phase of growth

Islamic finance

Bank of Tokyo-Mitsubishi hopes to obtain licence for Malaysian unit next year

Legal services

Caution advised on ‘boilerplate’ legal documents

Oil and gas

Lundin Petroleum acquires 50% stake, operatorship of oilfield from Petronas

Petronas could pull out of US$10 billion LNG project in Canada

SapuraKencana Petroleum’s Q2 profit up 8.6%

Property

Talam Transform pleads for another chance

Land parcels for Stage 1 at Tun Razak Exchange sold; 1MDB keeping five for itself

Technology

Smartphone users on Android, Symbian and BlackBerry systems at risk from Zeus malware

Telecommunications

Transformation continues at Maxis

Tort

Ex-judge suggests legislation to cap damages in defamation cases

Penang CM suing New Straits Times Press

Utilities

AWER wants power plants under purview of technical panel

ASIA

Oil and gas

Petronas aiming to be among top five in Thai lubricant market

Real estate

Ascendas-Saigon Bund JV to build US$130 million business park in Ho Chi Minh City

AUSTRALIA

Employment

Senior Qantas flight attendant’s claim for unfair dismissal rejected

Former executive claiming A$4.5 million against ex-employer

Financial services

Sydney failing in quest to become global financial centre; ranked 23rd in survey

Mergers and acquisitions

Inbound deals down 86% from April-to-June quarter; too early to pronounce M&A boom over

CANADA

Oil and gas

BC cannot afford to fall further behind in race to become major exporter of LNG

Technology

BlackBerry hopes new device will be Passport to success

EUROPE

Antitrust

Facebook-WhatsApp deal set to win unconditional EU approval

Insurance

Spain’s Mapfre to buy Italian and German assets of Britain’s Direct Line for €550 million

SINGAPORE

Mergers and acquisitions

RAC’s owner Carlyle scraps plans to list, sells stake to Singapore’s GIC

Temasek in talks for 30% stake in retail arm of India’s Aditya Birla

Travel

Lion City highly sought-after vacation spot among wealthy holidaymakers

UK

Insurance

Insurers could be hit by more than £370 million in aviation claims

Bosses will be subjected to tougher scrutiny

Legal profession

For barristers, days of plentiful work and rewarding fees on the wane

US

Autos

British sports car Lotus not leaving North America market

Earnings

Sportswear maker Nike reports better-than-expected quarterly profit

Thursday
Sep252014

25 September 2014, Thursday

Aviation

Underwater vehicles will search for missing MH370 further south

Tender for new air traffic control management centre open for bidding in Q4

Capital markets

Abric sells core business to UK-based ESNT

Remisiers punished over manipulative dealing of ETI Tech

Employment

JB High Court quashes reinstatement order of former Maybank manager

Financial services

Bank Negara Malaysia, Securities Commission launch Financial Services Professional Board

Board can play critical role to ensure standards in place

SC chairman’s speech

Tune Insurance’s first foray into Thailand

Human rights

Malaysia one of the worst countries to be a transgender

Islamic finance

Bank of Tokyo-Mitsubishi issuing Islamic bonds in two tranches under debut Sukuk Wakalah

Mergers and acquisitions

Lay Hong shareholder makes conditional voluntary takeover offer

Oil and gas

Malaysia Marine and Heavy Engineering, Technip team up to bid for contracts

Petronas not bound to make cash payments from petroleum in Pahang, Kelantan and Terengganu

Property

Tropicana’s Pandora Serviced Residences ready by 2016

UEM Sunrise may consider land swap in Nusajaya to reduce dependency on developments

Transport

SPAD not suspending FM Global Logistics’ haulage licence

ASIA

Capital markets

Potential rewards of China-Hong Kong open market are enormous for investors

Economy

Asian Development Bank trims growth forecast for SE Asia

Retail

First Court Big Box Megastore in Indonesia to open by end-October

AUSTRALIA

Airlines

Virgin Australia, Qantas poised for fresh battle

Competition

Watchdog approves of Wilmar’s and First Pacific’s proposed acquisition of Goodman Fielder

Property

Circular Quay set for A$1 billion revamp; Denmark’s 3XN appointed to project

EUROPE

Competition

Chiquita, Fyffes set to secure conditional EU approval for tie-up as world’s largest banana producer

Mergers and acquisitions

Alstom’s power, rail signalling deals with GE should close in Q2 2015

NEW ZEALAND

Airlines

Air NZ resuming Auckland-Singapore flights in January after eight years

Employment

Employer justified in giving worker final warning, but did not follow correct procedure

ERA decision

UK

Competition

Competition and Markets Authority wasted ‘millions’ on lengthy probe into motor insurance

Retail

Authorities monitoring Tesco; no dedicated finance director for last five months

Tobacco

Proposal to tax British cigarette companies to pay for NHS spending angers firms

US

Real estate

Buyers want to see options for new super-luxury homes before committing to deals

Technology

Apple yanks update to iOS 8 software following customer complaints

Tobacco

Illinois to hear Philip Morris appeal of US$10 billion verdict on ‘light’ cigarettes

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