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Daily News

 

Thursday
Feb262015

26 February 2015, Thursday

Airlines

Loss-making AirAsia X cutting unprofitable routes, deferring plane deliveries

New CFO appointed

Turkish Airlines in early talks with Malaysia Airlines on leasing aircraft

Capital markets

Tenaga Nasional bows to pressure from Integrax’s leading shareholder

Constitutional law

Bumiputera Christian hopes to keep Federal Territory Islamic Council from intervening

Earnings

Hong Leong Financial’s Q2 profit rises

Education

Minister cites new examples to back claim Malaysian education is world class

Financial services

Malaysia Building Society looking to get out of ‘no man’s land’

Food and beverage

Brahim’s on F&B acquisition trail even after aborted bid for Burger King

Investment

Creador affiliate invests in Mumbai-listed PC Jeweller

Islamic capital markets

CIMB, RHB Islamic Bank arranging IDB’s Sukuk sale

Media

Utusan Melayu, Media Prima see dip in revenue

Plantations

Boustead Plantations in the red

Higher biodiesel sales boost revenue at Genting Plantations

Property

Property development, leisure segment to drive i-Bhd’s performance for FY15

Maintenance fees for residential stratified properties exempted from GST

Tax

Night market hawkers and traders worried about GST

Telecommunications

Axiata rings in profit despite challenging year

Axiata open to M&A opportunities in Sri Lanka and Bangladesh

Telekom Malaysia wins government broadband projects

ASIA

Banks

Mizuho Financial shells out for Royal Bank of Scotland’s North American loan assets

Insurance

Strong sales in core markets boost AIA profit

AUSTRALIA

Airlines

Qantas reports best H1 profit in four years

Employment

Driver who contacted agency about workplace rights was unfairly dismissed

Healthcare

Ramsay’s H1 profit up 21%

CANADA

Real estate

Canada’s oldest company Hudson’s Bay teaming up with REITs to unlock value of properties

True value of Hudson Bay’s real estate empire much more transparent

Technology

BlackBerry, Google team up

EUROPE

Banks

Decision to abandon franc’s cap against euro casts harsh spotlight on Swiss National Bank

Earnings

Toymaker Lego continues to build on success, thanks in large part to blockbuster movie

Shipping

AP Møller-Maersk investors in line for dividend windfall

SINGAPORE

Banks

Regional expansion will weigh on credit profiles of DBS, UOB and OCBC

Capital markets

Executive search firm helping Singapore Exchange identify new CEO

Next CEO faces challenge to boost trading volumes, attract big listings

Commodities

Noble Group said to have overstated value

Earnings

ISEC Healthcare’s FY14 earnings down 27%

Pharmaceuticals

Japan’s Takeda expands operations here

233-year-old drugmaker focusing on ‘organic agenda and growth’

UK

Banks

Royal Bank of Scotland retreating from Asia

Former regulator appointed new RBS chairman

Islamic finance

London bidding to be global hub

US

Antitrust

Dentists can’t hold monopoly on teeth-whitening services

Real estate

Goldmans, Morgan Stanley tapped to find buyer for Cushman & Wakefield

Technology

Apple to pay US$533 million for infringement on IP owned by Texas company

New Google HQ likely to aggravate already testy relationship with community leaders

Hewlett-Packard in talks to buy Aruba Networks; deal may be announced next week

Tobacco

RJ Reynolds, Lorillard and Philip Morris USA reach US$100 million settlement

Wednesday
Feb252015

25 February 2015, Wednesday

Airlines

AirAsia X reports wider Q4 loss

AirAsia X shares fall to record low

Autos

Demand for smaller cars could help Perodua, Proton win back market share

Capital markets

AmInvestment Bank remisier reprimanded, fined RM200k

Contract

Gerbang Perdana sought compensation using claims from JV partners following scrapped ‘crooked bridge’ project

Earnings

Felda Global Ventures’ Q4 profit down 96%

Malayan United Industries sinks into the red

Insurance

COO of Fairfax Asia to lead Pacific Insurance

Oil and gas

Dialog contract for Balai Cluster marginal oilfield project faces possible setback

Deleum’s Q4 profit jumps on higher contribution from oilfield services

Publishing

Berjaya Books calls for end to criminal proceedings against Borders store manager

Retail

BritishIndia stays put… for now

Shipping

Maybulk still profitable, albeit at a much lower level

Tax

E-filing begins Sunday

ASIA

Capital markets

Postal Savings latest Chinese bank to seek funds via equity markets

Islamic capital market

Indonesia looking to sell IDR79 trillion of Sukuk this year

Consolidation alone insufficient to secure industry’s future growth

Garuda Indonesia plans global Sukuk in mid-April

AUSTRALIA

Employment

No compensation for victim of hot-desking

Real estate

New charges proposed for foreigners buying residential property

EUROPE

Antitrust

EU competition chief and Google chairman meeting next week

Mondelez, DE Master Blenders 1753 propose new option to soothe concerns about merger

Transport

Finmeccanica rail deal strengthens Hitachi’s foothold in Europe

Japanese firm looks committed to European rail

GLOBAL

Competition

Authorities continuously strengthening the way they pursue cartel offenders

Telecommunications

4G coverage available to 35% of global population by end-2015

NEW ZEALAND

Banks

Ratings of ANZ, ASB, Bank of New Zealand and Westpac affirmed

Insolvency

Supreme Court expands ‘good faith’ defence for voidable transactions

SINGAPORE

Capital markets

Singapore Exchange chief departing in June

Gaming

Genting Singapore’s Q4 profit hurt by poor performance in business from high rollers

Tax

Higher tax rate still among lowest in the world

Tourism

Big-ticket events, clusters of attractions to drive tourism traffic

UK

Asset management

Aviva division fined £18 million for control failures

Capital markets

FTSE-100 index hits new high

Oil and gas

Bleak picture of North Sea’s prospects

US

Banks

JPMorgan Chase adamant it should remain whole

Entertainment

DreamWorks Animation’s Q4 results worse than expected

Technology

Computer Sciences draws buyout interest from Cap Gemini, Carlyle

Hewlett-Packard’s earnings being crimped

Tech giant waited too long to separate consumer units from corporate businesses

Tuesday
Feb242015

24 February 2015, Tuesday

Airlines

Union members of troubled Malaysian Airline System preparing mass protest

TV documentary claims MH370 deliberately flown off course towards Antarctica

Search coordinator confident wreckage of MH370 found by May

Arbitration

Lippo’s First Media cannot resist enforcement of awards granted earlier to Astro and its units

Earnings

MRCB swings to net loss

Nestlé Malaysia’s Q4 profit down 2%

Pharmaniaga’s Q4 profit jumps 76%

Financial markets

Danajamin Nasional plans partial guarantees

Food and beverage

Swiftlet Eco Park targeting to raise US$30 million via IPO and New York listing in Q3

Insurance

Opportunities will only come to those with an understanding of fast-growing local market

Legislation

Anti-Trafficking in Persons and Anti-Smuggling of Migrants Act 2007 to be amended

Mergers and acquisitions

Integrax shareholder Perak Corporation holding out for higher buyout offer from Tenaga Nasional

Oil and gas

Tok Bali in Kelantan expected to attract up to RM1 billion in investments

UMW O&G’s Q4 profit surges

Retail

Ministry, management of Suria KLCC meeting today on relocation of BritishIndia

Water services

New fight brewing between Selangor, federal government over ownership of water assets

ASIA

Autos

Honda Motor CEO stepping down in June

Capital markets

HKBN’s IPO could be second-largest in Asia-Pacific so far

Insurance

Tokio Marine’s profit rises on US-led upturn in global economic growth

Islamic capital markets

Indonesia may introduce new Sukuk structures

AUSTRALIA

Healthcare

Healthscope on track to hit full-year targets for operating EBIT

Insurance

QBE’s annual profit falls short of estimates

CANADA

Competition

Competition Bureau approves GlaxoSmithKline-Novartis deal

Employment

Hard-ball tactics cost employer way more than a reasonable settlement proposal

Decision

EUROPE

Competition

Full investigation into General Electric’s €12 billion bid for Alstom’s power equipment business

European Commission examining Cargill’s plan to buy rival Archer Daniels Midland unit

Google investigated for possible violation of Russian anti-monopoly laws after Yandex complaint

Islamic finance

Russia’s first Shariah-compliant bank may open this year

Technology

Apple building green data centres in Ireland and Denmark

Facebook’s updated privacy policy still violates European law

SINGAPORE

Economy

Budget 2015 introduces further measures to strengthen savings and income in retirement

Highlights of Budget 2015 proposals

Real estate

Tax incentives for S-REITs extended by five years

Expiration of stamp duty concession seen to have limited impact

UK

Banks

Aldermore set to unveil plans for quick-fire stock market listing

Treasury cuts stake in Lloyds to below 24%

HSBC’s annual profit down 17%

Ignorance stemming from complexity is not convincing

Bank exercising right of forced sale not under duty to obtain best price reasonably obtainable

Biotechnology

Japan’s Sosei to buy privately owned Heptares

Insurance

Policyholder entitled to indemnity for costs of reinstatement of properties damaged by fire

Decision

Mergers and acquisitions

British American Tobacco may take full control of Brazil’s largest cigarette company

US

Antitrust

HSBC, Barclays among 10 major banks under probe for possible rigging of precious-metals markets

Mergers and acquisitions

Globe Specialty Metals merging with Spain’s Grupo FerroAtlántica; deal should close in Q4

Monday
Feb232015

23 February 2015, Monday

Airlines

No closer to finding out what really happened to MH370

Deputy director suffering in silence

Employees of beleaguered Malaysian Airline System to receive termination letters soon

Earnings

Highest payout from Armed Forces Fund Board since inception

Investment

1MDB may require cash injection from MoF

State investment company signals plans to wind down

1MDB profited from PetroSaudi JV

Islamic finance

Lenders rolling out alternative growth strategies for Islamic businesses

Manufacturing

Supermax announcing new product line in July

Oil and gas

Sarawak-based contractors assured of RM2 billion worth of Petronas contracts annually

New Petronas chief should encourage consolidation

Property

GST a challenge for developers

Fears of property glut in Iskandar Malaysia ‘overblown’

Market observers waiting for corporate exercise between Ecofirst and Meda

Jiankun banking on Klang Valley projects to return to profitability

Today’s Mall in Ulu Tiram, Johor put up for sale

Hua Yang sets its sights on Sabah

Property development could become tech-based Iris’ biggest earnings contributor by 2017

Further inroads in Kwasa Damansara project

Shipping

Westports identifying suitable M&A target in SE Asia

Telecommunications

U Mobile can now consider IPO, denies talks with REDtone

ASIA

Competition

India approves Kotak Mahindra Bank’s record US$2 billion purchase of ING Vysya

Islamic capital market

Indonesia seeks return to global Sukuk market in H1

AUSTRALIA

Earnings

Australia Post forecasts first full-year loss in 30 years

Caltex Australia beats guidance

Employment

Shipping company liable to pay damages for not following investigation procedure to the letter

Judgment

Property

Lend Lease delivers strong start to 2015

CANADA

Mergers and acquisitions

Valeant Pharmaceuticals to buy Salix for US$10 billion in cash

Oil and gas

Major LNG project put on hold by Petronas showing signs of a revival

EUROPE

Aviation

Investigators to begin 3D reconstruction of parts of MH17

Oil and gas

Italy’s Eni working on IPO of assets in power and gas division

Private equity

European firms focusing on specific industries to compete on home turf

Real estate

Ado Properties plans IPO in Germany

Economy

Finance minister will present Budget 2015 at 3.30pm

Trends in budget spending that may guide today’s measures

Social media

Setting up a Facebook page does not give a person any ‘ownership’ over site

UK

Banks

HSBC boss holds £5 million in Swiss account

Insurance

RSA chief likely to unveil more explicit, increased expense reduction target

Intellectual property

Developer takes adult entertainment company to court over ‘playboy.london’ website

Islamic capital market

UK Export Finance guarantees Sukuk issue for first time

Real estate

Axa unit pays £300 million for London site of halted Pinnacle skyscraper

US

Antitrust

AmEx violated laws

Consumers unlikely to see lower prices

Entertainment

Walt Disney World in Orlando first in industry to breach US$100 psychological barrier

Technology

High-profile suit promises rare unscripted peek at Silicon Valley

Dire shortage of qualified tech workers grows worse as women keep quitting

Wednesday
Feb182015

18 February 2015, Wednesday

Airlines

Malaysia Airlines may lease out two Airbus A380 superjumbos to Turkish Airlines

AirAsia records 7% growth in passenger traffic year-on-year for FY14

AirAsia X’s passenger volume for Q4 2014 up 12%

Expedia raises stake in AirAsia JV

Insurance

Revised motor insurance premium takes effect from Monday

MNRB’s weaker performance blamed on large claims from reinsurance, reTakaful units

Islamic capital market

IILM expands Sukuk size above US$2 billion mark for first time

Property

Goldis’ Q4 profit jumps fourfold

Mah Sing’s projects should sustain company for another decade

Property development segment drives Sunsuria’s Q3 profit

Retail

Luxury brand BritishIndia seeking injunction against Suria KLCC

Transport

Rollout of RM27 billion Penang Transport Master Plan from 2017

ASIA

Capital markets

China Development Bank plans to list leasing, brokerage subsidiaries in Hong Kong by end-2015

Monetary policy

Bank Indonesia cuts main interest rate for first time in three years

Oil and gas

China may merge CNPC and Sinopec, Cnooc with Sinochem

AUSTRALIA

Insurance

Insurance Australia Group’s H1 profit down 10% to A$579 million

Logistics

Toll Holdings receives takeover approach from parent of Japan’s post office

A$340 million windfall for former Toll boss

SINGAPORE

Commodities

Monetary Authority of Singapore reviews report alleging accounting irregularities at Noble Group

Logistics

Japan’s Kintetsu World Express pays higher-than-anticipated price for Singapore’s APL Logistics

UK

Autos

Super-luxury sedan maker Rolls-Royce developing ‘non-SUV’

Ferrari only major luxury automaker without an SUV in its lineup

Real estate

Billionaire brothers converting London office building near Buckingham Palace into mansion

Technology

RBS first British bank to introduce fingerprint tech

US

Capital markets

S&P 500 ends on another record high

Technology

Asian suppliers making six million units of Apple Watch models for Q1

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