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Daily News

 

Wednesday
Sep242014

24 September 2014, Wednesday

Administration

Sultan’s rejection of opposition leader’s wife as Selangor MB sets undemocratic precedent

Aviation

AirAsia, Malaysia Airport Holdings will benefit from Indonesia’s ratification of 2009 pact

APFT to offer charter flights by year-end

Banks

Suspects on UN list will have their assets frozen

Capital markets

Borneo Aqua Harvest, directors reprimanded; four directors fined total of RM40,000

Dispute resolution

Chief Justice hopes new 39 Essex Street Chambers will add value

Employment

PM urged to put a stop to KTMB sacking spree

Insurance

Medical and health insurance to see double-digit growth in H2

Intellectual property

Banks need to start providing IP financing

BNM deputy governor’s speech

Investment

Investors from Qatar, Abu Dhabi reconsider positions in TRX, Bandar Malaysia projects

Islamic finance

1MDB’s Islamic bonds will push Sukuk sales beyond RM50 billion for only second time in 16 years

Legal services

Lawyer intends to make certain template agreements available to public

Manufacturing

Kanger plans bamboo plantation

Oil and gas

Petronas allocates RM1 billion towards Enhanced Oil Recovery programme

Property

Mayland Parkview’s stake in Land and General nears MGO threshold

Sport

Squash queen beats compatriot to earn fourth singles gold

Tort

‘Political frog’ not defamatory

Utilities

Tenaga Nasional-Powertek consortium signs MoU with Bangladesh Power Development

ASIA

Financial services

StanChart in talks to sell HK consumer finance business to Pepper Australia

Property

Competition in Indonesia heats up as companies try their luck at own property businesses

AUSTRALIA

Employment

Public servant’s request for stress-related compensation denied

Insurance

National Australia Bank may sell unit

EUROPE

Antitrust

Europe’s fight with Google may be more complex than battle against Microsoft

Corporate

Philips breaks 120-year-old company in two

Retail

IKEA wants to redesign itself

SINGAPORE

Capital markets

Restaurant chain Jumbo plans to raise S$30 million in 2015 IPO

Data protection

Property agent faces up to 27 counts of violating Personal Data Protection Act

UK

Arbitration

Businessman entitled to bring claim in New York despite English arbitration clause

Banks

Barclays fined US$77 million for client account failures in UK and US

Earnings

Investor faith in selected UK bellwethers is eroding

Luxury goods

Upmarket shoemaker Jimmy Choo to list on London Stock Exchange

Mergers and acquisitions

Singapore’s GIC in talks to buy roadside rescue business RAC

Property

Pension funds claim Goldman Sachs’ new HQ would affect their ‘right to light’

Retail

Tesco’s fall from grace underscores managerial missteps

US

Capital markets

US subsidiary RBS raises US$3 billion in IPO

Mergers and acquisitions

Colgate-Palmolive would make sense as a buyer or seller

Real estate

12,394 sq ft triplex penthouse is New York’s most expensive apartment listing

Tax

New rules make it more difficult for US companies to lower tax bills by relocating overseas

Tuesday
Sep232014

23 September 2014, Tuesday

Administrative law

Application for judicial review against Registrar of Societies withdrawn

Catholic Church seeks review of decision barring use of ‘Allah’ by non-Muslims

Banks

CIMB chairman’s goal is Asean primacy

Earnings

Berjaya Land’s Q1 profit down 63% on higher prize payouts, finance costs

Legislation

Employees Provident Fund Act 1991 to be amended

Oil and gas

Shapadu proposal for listing of O&G unit by Q1 2015

Sona, CLIQ and Reach yet to become full-fledged operating companies

Plantations

Sime Darby ‘preferred bidder’ for 49% interest in NBPOL, FGV still interested

Property

Rehda: New guidelines in Selangor unlikely to have much impact

Selangor’s move criticised

Land and General on lookout for new land bank in Klang Valley, Johor and Penang

December launch for Phase 2 of Sunsuria’s Seventh Avenue project

Tabung Haji dismisses talk of RM640 million investment in Detroit

Takaful

AIG Re-Takaful has capacity to take on larger risks

Tax

Iris to handle GST refunds for tourists

Tobacco

BAT Malaysia, JTI revert to old prices for cigarette brands

Transport

Clampdown on private vehicles offering transport services using Uber starts October

Uber: RTD action not helping resolve woes but deepening the rut

ASIA

Capital markets

Bangkok Airways selling 24.8% stake in October IPO

Financial services

Aberdeen Asset Management Asia gets nod to buy 80% of Indonesia’s NISP

AUSTRALIA

Competition

Pirovic fined A$300k; first time court gives guidance on what constitutes free range claim

Telecommunications

TPG exceeds analyst earnings expectations

EUROPE

Capital markets

Investment bank Rothschild advising on Bayer’s flotation of plastics business

Mergers and acquisitions

German companies on US buying spree

Allure of Silicon Valley behind SAP and Infineon’s recent acquisitions

NEW ZEALAND

Employment

Termination under a trial period

ERA judgment

Insolvency

Supreme Court clarifies important points relating to assignment and novation of contracts

Effect of language used in contract is critical

Intellectual property

Single newspaper ad sufficient use of trademark to defeat revocation action

IPONZ decision

SINGAPORE

Family law

Ezra founders’ six-year battle over marital assets ends

Gaming

Party may be over for Marina Bay Sands, Resorts World Sentosa

Real estate

CapitaLand seeks extension on high rise condo project in Johor

Keppel Land selling 80% stake in Surabaya mall, BG Junction

Sport

Tycoon in partnership with five former Man U players, takes 50% stake in Salford City FC

UK

Capital markets

‘Challenger’ bank Aldermore to float on London Stock Exchange next month

Aldermore not expanding into current accounts

Competition

Whistleblowing on cartels up 69%

Mergers and acquisitions

Second-round bids for United Biscuits expected by mid-October

Property

18 of 34 apartments at London’s Mayfair sold for £210 million

British Land’s ratings affirmed

Retail

Tesco UK boss among executives suspended

US

Antitrust

Possible lawsuit against Sysco’s US$3.5 billion deal to buy debt-ridden US Foods

Banks

Arab Bank liable for backing terrorism by transferring funds to Hamas

Credit Lyonnais, Bank of China facing similar cases

Employment

UBS sued for US$5 million over behaviour of ex-advisor

Intellectual property

English rock band Led Zeppelin and music publishers seek to dismiss case

Islamic finance

Goldman Sachs’ Sukuk unlikely to create market of new issuers

Monday
Sep222014

22 September 2014, Monday

Aviation

Helping to turn MAS into global, award-winning airline proudest achievement of ex-MD’s life

Capital markets

Printing services company BHS Industries plans bonus issue, share split

TdC, United Plantations replaced on ‘MYETF Dow Jones Islamic Market Malaysia Titans 25’ list

Commodities

Room for Malaysia and Indonesia to benefit

Environment

UEM Environment, DRB-Hicom, MRCB and Puncak Niaga shortlisted for incinerator project

Islamic finance

Malaysia still superpower but position under continuous threat

Legislation

Government tweaks proposed amendment to Inland Revenue Board of Malaysia Act 1995

Media

Pay-TV operator Astro registers growth in most of key areas in H1

Plantations

TDM allocating estimated capex of RM400 million next year

Property

Stricter guidelines on foreigners buying properties in Selangor

Bina Puri not selling Main Place for now

Questions over 1MDB’s land deal in Penang

Eastern & Oriental focusing on Klang Valley, Penang, Iskandar Malaysia and Central London

Sunway looking to list construction arm by Q2 2015

Tax

6% tax for architectural, legal and consulting services remains post-GST

Utilities

Couple fail to prove case against Syabas over allegation of poor water quality, low pressure

ASIA

Banks

Maybank Philippines in preliminary talks with M&A targets to expand domestic business

Corporate governance

Hyundai Motor and affiliates did not seek board clearance for US$10 billion bid for Seoul land

Pharmaceuticals

UK’s GlaxoSmithKline fined a record US$489 million

Setback for GSK in China

AUSTRALIA

Employment

Sacked forex trader at Deutsche Bank under investigation

Employer within its rights to dismiss swearing dockhand

Remuneration

Macquarie’s Moore is country’s highest paid CEO

EUROPE

Oil and gas

Germany’s Siemens to buy Dresser-Rand for US$7.6 billion including debt

Private equity

Blackstone ‘giving up on Russia’

SINGAPORE

Capital markets

End to two-year hiatus for Chinese listings in city-state

Telecommunications

SingTel investing S$500 million, hiring 1,000 engineers

UK

Banks

Swiss private bank Julius Baer keen on Coutts, but not on bidding war

Insurance

Aviva selling stake in JV to venture partner

Property

Housebuilders could face aggressive competition in London from India’s Lodha

US

Capital markets

Alibaba IPO could be biggest-ever globally at value of US$25 billion

Stock sale unlikely to squash investors’ appetites for other newly minted public companies

Silver Lake’s stake worth more than US$5 billion

Insurance

New York regulator investigates indexed universal life

Legal services

Bingham McCutchen, Morgan Lewis & Bockius to merge

Oil and gas

ExxonMobil may exit California amid tougher environmental regulations

Friday
Sep192014

19 September 2014, Friday

Aviation

Hunt for missing MH370 to resume end-September

Capital markets

Banks invited to pitch for helicopter operator Weststar’s share listing

Pelaburan Mara nears deal to buy 5% of TH Heavy Engineering

Construction

Work on seven new highways to start next year

Earnings

GBP rate changes unlikely to have real impact on Malaysian companies with UK exposure

Islamic finance

1MDB plans RM8 billion Sukuk

Monetary policy

Bank Negara Malaysia keeps key interest rate unchanged

Central bank’s statement

Plantations

Malaysian planters breathe easier as Indonesia rethinks foreign ownership cap

Property

KSK expects gross profit of RM1.6 billion from 8 Conlay project

Takaful

MNRB focusing on expanding Takaful business

Tax

Gold jewellers could face 20% to 30% drop in sales post-GST

ASIA

Islamic finance

Indonesia preparing draft regulations for Islamic pension funds

Real estate

Investors, analysts alarmed at Hyundai Motor’s big bid for new HQ

Technology

Sony paying a price for clinging to past, competitor Panasonic prospers

AUSTRALIA

Capital markets

Australia, Singapore can access each other’s trade repositories

Mergers and acquisitions

Mega deals likely to be a feature of domestic landscape in 2014-15

CANADA

Dispute resolution

Appellate court’s ability to raise new grounds of appeal

Oil and gas

TransCanada a possible target of activist investors

Details of Petronas’ LNG taxation scheme in November

SINGAPORE

Healthcare

135-year-old Eu Yan Sang aims to become billion-dollar company in 10 years

Sport

Lion City banking on marquee Formula One race

UK

Autos

Malaysian-owned Lotus cutting workforce by 27%

Employment

Pinsent Masons fielding claims from employment partner, senior associate and associate

Leisure

Merlin Entertainments may roll out ‘Dungeon’ brand to other US cities after San Francisco

US

Antitrust

Executives from Mitsubishi, Hitachi indicted on charges of price fixing

Capital markets

First year’s performance for most mega deals was a major flop

Healthcare

World’s richest doctor has a prescription for improving healthcare

Islamic finance

MidEast investors bought 87% of Goldman Sachs Sukuk

Technology

‘Open Sesame’ for Alibaba

Former teacher an inspiration to millions across China

Billionaire founder of business software giant Oracle stepping down as CEO

Oracle risks following wayward path of companies where dual chiefs failed to mesh

Thursday
Sep182014

18 September 2014, Thursday

Airlines

British Airways resuming London-KL route from May 2015

Malaysia Airlines offering Rolex watches as incentives to travel agents

US$30 million reward for conclusive evidence on who shot down MH17

Autos

Mercedes Benz cars could be cheaper post-GST

E-commerce

MDeC targeting RM31 billion contribution to GDP by 2020

Economy

GDP growth projected at 6% this year, 5% in 2015

Education

Malaysian Medical Council reviewing accreditation of foreign medical schools

Employment

Forced labour widespread in Malaysian electronics industry

Employers who neglect workers’ safety should be dealt with more severely

Financial markets

Mortgage lender Cagamas makes overseas bond market debut

Insurance

Zurich Insurance looking to double revenue of Malaysian unit in next five years

Investment

Khazanah’s investment in e-commerce giant Alibaba now estimated to be worth US$1 billion

Islamic finance

Being open to female talent has allowed Malaysia to access a wider pool of Shariah scholars

Bond and Sukuk markets still very viable for corporates

Sultan of Perak consents to role as Royal Patron for Islamic Finance Initiative

Property

CEO of SP Setia resigns after two decades; deputy president taking over

Property development business new growth driver for Fiamma Holdings

Telecommunications

DiGi.Com expects positive impact from potential refarming of 2G telecom spectrum between 900 and 1,800MHz

ASIA

Gaming

Groundbreaking ceremony for Resorts World Bayshore City within 90 days

Real estate

Hong Kong developers on track to sell a record HK$150 billion of new homes this year

Wealth

SoftBank founder now richest man in Japan, thanks to Alibaba IPO

AUSTRALIA

Competition

Supermarket giant Coles can proceed with acquisition of three independent grocery stores

Employment

Employer had not breached duty of care, risk of injury to worker not reasonably foreseeable

Fair Work Commission upholds dismissal of pot-smoking ferry driver

EUROPE

Insurance

Germany’s Allianz may sell parts of US business, Fireman’s Fund

Mergers and acquisitions

Holcim, Lafarge seek speedier approval of plan to create world’s biggest cement maker

SINGAPORE

Capital markets

Singapore Exchange to introduce minimum trading price requirement

Intellectual property

Inventor loses case against Housing and Development Board

UK

Capital markets

Upmarket shoe maker Jimmy Choo will decide in coming days on IPO

Construction

Net contribution clauses in contracts should be clearly drafted

Scottish independence

Fate of UK rests on wavering Scottish voters

Major powers quietly praying UK holds together

Possible prospective scenarios in different areas of law, should Scotland vote for independence

Scotland would need new IP laws once it leaves UK, brands would have to pay to re-register

Tax

ECJ rules VAT must be charged on services provided to companies by their overseas offices

Additional tax burden on banks, insurers and other financial services firms

Technology

Nationwide curbs on immigration put constraints on young firms’ ability to hire

US

Property

Americans flocking to the water’s edge, even as the risks to life and property mount

Part 1

Technology

Apple’s new iPads, next version of Mac OS unveiled on 21 October

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