24 April 2013, Wednesday

Banks

Affin’s plans to acquire Indonesian lender on hold

Biotechnology

Industry gets boost with launch of Bioeconomy Transformation Programme

Earnings

Public Bank reports 4% increase in Q1 profit

British American Tobacco’s Q1 profit up 5%

Education

HELP International targets 20,000 students by 2018

Investment

Cash-rich Malaysians should tap other investment opportunities

1MDB’s mysterious investments

RM3 billion bonds likely to be similarly underpriced to earlier bonds

1MDB brushes aside allegations

Oil and gas

SapuraKencana Petroleum set to become world’s biggest tender rig owner

Real estate

Sugar King’s endorsement of Iskandar Malaysia may pique interest of international investors

Sport

Cardiff City owner plans to acquire new forwards and defenders

Telecommunications

DiGi.Com working on country’s first business trust

Tort

Hearing of Election Commission deputy chairman’s defamation suit in November

Water services

National Water Services Commission drawing up new tariff

Pengurusan Aset Air tightens grip over cash flows of water concessionaires

ASIA

Islamic finance

Pakistan’s Meezan Bank seeks partners for Indonesian foray

Retail

Tycoon’s US$6 billion offer for cash-and-carry wholesaler potentially region’s biggest M&A

AUSTRALIA

Airlines

Singapore Airlines raises stake in Virgin Australia

New CEO for Tiger next week

Employment

Termination not a genuine redundancy, so employer must pay AUD10,000 in compensation

SMEs sometimes opt to use redundancy instead of a sacking

NEW ZEALAND

Employment

Air New Zealand took too long to discipline employee

Disciplinary action on airline employee was out of order

Court can assess the business decision behind a redundancy

Monetary policy

Reserve Bank of New Zealand holds benchmark cash rate

SINGAPORE

Dispute resolution

Former investment manager denied permission to instruct London counsel

Financial markets

Singapore Exchange offering new menu of Asian currency futures in Q3

Tax

Taxman loses test case; core shares were capital assets and not for revenue generation

Transport

S$1,700 penalty for bus operator SMRT

UK

Intellectual property

Patents could be approved in 90 days

Tax

Bank of Ireland loses court battle with HM Revenue & Customs

US

Antitrust

Outcome of Cablevision lawsuit against Viacom could help alter how content is sold

Intellectual property

New frontier is in the increasing convergence of IP embodied in design

23 April 2013, Tuesday

Administrative law

Lynas can operate Kuantan plant pending HC decision on residents’ application

Autos

More announcements from Proton in months to come

Banks

Affin not in talks with AMMB

Bank of East Asia backs Affin’s bid to buy over HwangDBS

Capital markets

MISC suffers steepest drop since September 1998

Destini lifted from PN17

Competition

MASkargo fined for role in air cargo cartel

Construction

Qimonda Malaysia v Sediabena: Allowing retention money to become part of the assets of the employer on insolvency would unjustly enrich other creditors

Corporate

Malaysia’s biggest problem is complacency

Insurance

Association expects higher gross premiums for general insurance

Investment

Fund manager Permodalan Nasional aims to increase AUM to RM500 billion by 2020

Real estate

Malaysia’s richest man, Khazanah Nasional ink Iskandar deal

New mixed-commercial project at eastern corner of KLCC

Investor interest in M-REITs waning

Tax

Top tips from SaveMoney.my

ASIA

Gaming

Genting and Philippine partner may launch IPO in Q3

Islamic finance

Reserve Bank of India could seek changes required for Shariah-compliant banking

AUSTRALIA

Competition

Virgin cleared to take control of loss-making Tiger Australia

Insurance

McDonald’s sued over hot coffee

Telecommunications

Mobile-phone company engaged in misleading conduct by creating fictitious complaints handling body and fake debt collector

EUROPE

Antitrust

Suppliers of smartcard chips may have taken part in cartel to push up prices

Data protection

Google fined €145,000 for illegally recording data from WiFi networks

NEW ZEALAND

Competition

Only Air New Zealand yet to settle long-running air cargo cartel case

Intellectual property

Tobacco industry might be ultimately unsuccessful in any legal action to prevent plain packaging

Is the first copyright infringement fine enough to scare off future infringers?

SINGAPORE

Competition

Penalties for five modelling agencies reduced following appeals

Wealth

Singapore becoming a hub for Asia’s rich

UK

Sport

Man United boss has again proved the master at eking out results

Tort

Three-year campaign to reform ‘chilling’ libel laws days away from victory

US

Employment

Retaliation claims can survive even when the underlying harassment cannot be proven

Technology

Apple did not violate Google patent to make iPhones

30 April 2013, Tuesday

Administrative law

UPSI student’s suspension justified

Banks

RHB wants to be among region’s top eight banks for acquisitions in next two years

DMG & Partners Securities now a member of RHB

Capital markets

FBM KLCI fails to build momentum

Suitor found for Sime Darby’s non-core assets

Competition

Companies should review practices, especially distribution practices, across Asia

Earnings

Maybank’s Q1 results likely to be subdued

Cement manufacturer Tasek’s Q1 profit down 12.8%

Economy

Malaysian on track to achieve growth of 5%-6%

Healthcare

Pursuit of lucrative healthcare tourism market could raise KPJ’s profile

Investment

Malaysia keen to make better use of Singapore’s financial muscle

Symphony seeks PE deals in Malaysia and Thailand; Sri Lanka, India and Japan also on its list

Property

I&P launching project in Bandar Kinrara this year

Takaful

Takaful Malaysia hopes for more level playing field in Indonesia by 2015

ASIA

Economy

Emerging Asia potentially susceptible to ‘middle-income trap’

IMF report

Gaming

Hong Kong emerging as preferred market for Macau gaming industry

Insurance

Deal-making frenzy turns up heat on buyers to fork out huge sums or miss out

Intellectual property

Trademark of Malhotra Book Depot restored despite lapse of 26 years

AUSTRALIA

Earnings

ANZ’s H1 cash profit climbed 10%; result shows Asian push starting to pay off

Insolvency

Factors in determining whether an inquiry into the conduct of receivers and managers is appropriate

Management

Sharp named CEO of Tiger Australia

SINGAPORE

Earnings

Higher fees and commissions outweigh narrowing net interest margins at OCBC

Mergers and acquisitions

Singapore Exchange rejects Aussino’s application for S$70 million RTO deal with Max Myanmar

Revenue

Annual value of vacant land to be assessed on basis of current market prices

UK

Entertainment

Pinewood Shepperton building first movie production facility in US

Financial services

24-year-old currency trader accused of taking £6 million in funds from investors

Britain intends to implement tougher version of Solvency II for its own insurers

US

Antitrust

Publishing house Macmillan hammers out US$26 million settlement

Capital markets

S&P 500 closes at record high

Real estate

Conflict over Empire State Building proposal reaches critical juncture

Technology

Huawei hits brick wall in US, shifts focus to markets where it has a chance

22 April 2013, Monday

Capital markets

LNG shipping company MISC down after Petronas’ failed bid

Petronas withdraws buyout offer for MISC

Success or failure of buyouts no longer as predictable

MISC share prices may come under selling pressure

Commodities

Rubber prices expected to be volatile

Constitutional law

Former undergraduate loses appeal over Universities and University Colleges Act 1971

Insurance

Great Eastern has no plans to expand through M&A for now

Investment

InvestKL hopes to secure another 10 MNCs

Islamic finance

Petronas Dagangan receives nod for RM2 billion Sukuk

Judiciary

Former Supreme Court judge dies at 81

Mergers and acquisitions

Buyer of Khazanah Nasional’s 45% stake in TIME Engineering announced next month

Tax

Inland Revenue Board Public Ruling No 4/2013: Accelerated Capital Allowance

Appendix A

Appendix B

ASIA

Autos

Buyers in China shifting away from compacts and subcompacts to sedans and SUVs

Europe's luxury-car makers focus on China's wealthy

Capital markets

Thailand’s record IPO up more than a fifth on trading debut

Competition

Explosives manufacturers’ appeal dismissed

Entrepreneurship

Why Asia might have greater appeal over US for budding entrepreneurs

Trade

Tokyo invited to Trans-Pacific Partnership talks

AUSTRALIA

Financial markets

Australian, NZ companies affected by S&P overhaul of hybrids

Fraud

Defence of ‘change of position’ to a claim for unjust enrichment

EUROPE

Competition

Penguin closer to resolving e-book price fixing charges

Construction

Small regional markets cannot avoid the scrutiny of competition authorities

Intellectual property

Levi Strauss wins trademark battle with Swiss firm over patch of red cloth ‘flag’

SINGAPORE

Capital markets

Property and F&B giant Fraser and Neave resumes trading

Gaming

Marina Bay Sands’ casino licence renewed another three years

UK

Competition

GlaxoSmithKline accused of entering into agreements with rivals

Food and beverage

GSK could seek £1 billion for Lucozade and Ribena

Intellectual property

Key developments in IP law

Tax

UK government challenges plans for European financial transactions tax

Tort

Typist faces £150,000 libel battle over comments on Twitter

US

Antitrust

Brewer Anheuser-Busch InBev can proceed with takeover of Grupo Modelo

Intellectual property

Internet service providers cheer ruling

19 April 2013, Friday

Bankruptcy

19,000 are declared bankrupt yearly

Capital markets

Bursa Malaysia’s Q1 net profit down 6%

Commodities

Megasteel suggests new pricing for hot rolled coils starting May

Construction

Ekovest eyes contracts in Iskandar Malaysia, plans projects across greater KL area

Corporate

Maybank, CIMB and Tenaga Nasional on Forbes’ Global 2000 list

Forbes list

Malaysia among countries that stand out in terms of growth across four metrics

Energy

Tenaga Nasional, YTL Power and Malakoff shortlisted to tender for coal-fired power plant

Islamic finance

IILM’s maiden Sukuk not doomed despite surprise Saudi exit

Fifth OCBC Al-Amin Xpres opens June

Indonesia holds the most potential for CIMB Islamic

Oil and gas

Hibiscus Petroleum will acquire six production licences from Norway’s North Energy

Property

Sky garages: Realm of the uber-rich

Americans take car storage to whole new level

Developers mulling retirement and assisted-living style projects

When do a developer’s obligations really begin?

Permodalan Negeri Selangor-Dijaya deal stands even if there is a change in government

Hektar REIT embarking on retail mix improvements for Central Square and Landmark Central

Societies

Court of Appeal upholds decision re-instating Balkis

ASIA

Financial markets

Bankers see opportunity to revive corporate hybrid market

Trade

Japan likely to be invited for Trans-Pacific Partnership talks

AUSTRALIA

Banks

ANZ should just sell minority stakes in Asian assets

Capital markets

Sino Australia Oil and Gas seeks to raise up to AUD20 million

Intellectual property

Parallel importation a risky business

Property

Legal consequences of pre-selling lots earlier than allowed

CANADA

Employment

Passage of time won’t necessarily diminish employee’s right to reinstatement when she has been discriminated against

Real estate

Toronto has the largest volume of luxury sales

EUROPE

Autos

Volkswagen investing US$80 billion in new plants and products

Food and beverage

Slowest Q1 sales growth for Nestlé since 2009

GLOBAL

Commodities

Gold is precious only so long as enough people agree that it is

Trade

Trade finance should not be feared

SINGAPORE

Capital markets

Fraser & Neave’s new owners want to maintain its current listing status

Property

Keppel Land tops bids for prime residential site next to Tiong Bahru MRT station

UK

Companies

Corporate veil cannot be pierced to make controller a joint party to a contract

Management

Can-do style of BoE’s only foreign governor in 319 years will give bank new impetus

US

Autos

Toyota aims to produce Lexus-brand luxury sedan in US for first time

Capital markets

SeaWorld Entertainment makes debut as a public company on NYSE

Stock a 'buy' after its IPO but not for the long term

Insurance

New York reaches settlement with QBE over ‘forced-placed’ insurance

Intellectual property

Viacom’s lawsuit against YouTube dismissed for second time in three years

Technology

Apple’s supplier network vulnerable

IBM misses analyst profit estimates for first time since 2005

Chinese PC maker Lenovo in preliminary talks on IBM division

Microsoft CFO the latest in a line of top-level executives to leave