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Daily News

 

Thursday
Apr282016

28 April 2016, Thursday

Arbitration

Malaysia Airports would rather extend concession agreement than pay compensation

Banks

Incoming Bank Negara Malaysia governor pledges to maintain policy stability

Appointment 'positive on ringgit'

Capital markets

Salutica views IPO as ‘natural progression’

Construction

Companies trading at highest level relative to equity benchmark in four years

Cahya Mata Sarawak cautiously looking at exports of cement

Earnings

Tenaga Nasional’s Q2 profit down 39% on recognition of imbalance cost pass-through

Environment

Malaysia set to get tough on forest fires with proposal to amend Environmental Protection Act

Finance

1MDB’s default could have broader fallout

Islamic finance

New frontiers, expansion of global footprint way forward for Malaysia

Management

Lysaght Galvanized Steel MD quits

Oil and gas

Seadrill to exit SapuraKencana Petroleum

Malaysia Marine and Heavy Engineering sinks into the red for second consecutive quarter

Plantations

Sarawak Oil Palms’ Q1 earnings quadruple

Property

Encorp sells two-year-old building in Selangor for RM27 million

Kimlun wins Mah Sing contract in Johor

Seacera proposing to acquire entire equity interest in Duta Nilai for RM220 million

Genting said to be in talks to sell former site of Miami Herald HQ

Takaful

Zurich Insurance to take full ownership of MAA Takaful

Tourism

Netizens deride new KL brand identity

ASIA

Financial services

Nomura posts first quarterly loss since 2011

Property

Sino Land latest developer in Hong Kong to cut prices to boost sales

Technology

Samsung’s Q1 profit buoyed by strong initial sales for Galaxy S7

Telecommunications

Indonesia’s Telkom committed to becoming ‘digital company’

AUSTRALIA

Banks

Investors fretting about exposures to troubled corporates

Lenders clamping down on home loans to foreigners

ANZ first bank to support Apple Pay

Employment

Commonwealth Bank defends sacking of former chief medical officer of insurance arm

EUROPE

Autos

Ruling patriarchs of Porsche-Piëch clan slow to hand wheel to their children

Mergers and acquisitions

Nestlé, R&R Ice Cream forming new 50:50 JV; Froneri will be based in UK

London Stock Exchange-Deutsche Börse merger steadily winning support despite ‘Brexit’

Telecommunications

Telenor depending on home market to offset stalling sales in Thailand, Malaysia

SINGAPORE

Banks

United Overseas Bank’s wealth management fees down 26%

Real estate

Sale of S$24 million Sentosa Cove bungalow scrapped following arrest of would-be buyer

UK

Earnings

GlaxoSmithKline on course to achieve promised return to growth

Health

Royal College of Physicians recommends smokers switch to e-cigarettes

Details

Mergers and acquisitions

Pearson exploring sale of education business acquired less than four years ago

US

Earnings

Hotel operator Marriott beats Q1 expectations

Tax

‘Panama Papers’ trove of leaked documents available on 9 May

Technology

Facebook revenue beats Wall Street expectations

Company making successful transition to mobile, where many of its rivals are struggling

Yahoo reaches settlement with activist investor, avoiding high-stakes proxy fight

Wednesday
Apr272016

27 April 2016, Wednesday

Airlines

Turkish Air again considering offers to lease superjumbos

Banks

Legacy of first female central bank governor will be judged by 1MDB saga

Capital markets

LKL IPO expected to raise RM22.6 million upon listing in May

Construction

New ruling for skilled workers and site supervisors from June

Dispute resolution

High Court dismisses suit filed by ex-wife of deceased deputy PM

Earnings

British American Tobacco declares dividend despite weaker Q1 results

BAT to remain listed

Nestlé should be able to weather tough economic environment

Unisem’s Q1 profit up 47%

Oil and gas

Companies should work towards becoming owners, rather than mere agents, of technologies

Reach Energy MD hopes shareholders will see value in qualifying asset proposition

Sona Petroleum’s shareholders block proposed QA

Property

Vivocom subsidiary set to be turnkey contractor for Perak project

Penang still looks promising

Shipping

Westports’ container throughput will grow, albeit at lower rate than in FY15

Technology

Globetronics’ woes blamed on declining smartphone sales, volatile ringgit

Telecommunications

Celcom Axiata partnering with Ericsson, Huawei on 4G LTE network developments

Transport

KL hosting 16th UITP Asia-Pacific Assembly next month

Details

Public prefer Uber or GrabCar to conventional taxis

ASIA

Autos

Scandal surrounding Mitsubishi deepens

Chairman/CEO and president/COO likely to resign

Volkswagen overtakes Toyota as world’s top-selling carmaker

Banks

Maybank Indonesia starts new financial year with promising results

EUROPE

Media

New York Times eliminating jobs, announces changes to international edition

Real estate

Still no buyer for villa once owned by late music legend Prince

SINGAPORE

Banks

Interim CEO of BSI leaving

DBS aiming for five million savings accounts in India through new Digibank model

Company law

Minority shareholders of Malaysia Dairy Industries sue siblings and mother for minority oppression

High Court refuses move for Jones the Grocer dispute to be settled via arbitration

Investment

Temasek reorganises senior management

UK

Autos

Sweden’s Volvo to test autonomous vehicles on public roads in London from 2017

Earnings

British American Tobacco’s revenue rises

Employment

When terms in separate documents should be considered incorporated into employee’s contracts

Insurance

Jardine Lloyd Thompson anticipates exceptional charges for litigation expenses and restructuring

Oil and gas

BP profit plummets, lowers spending target

Retail

Austin Reed second high street retailer in two days to appoint administrators

Sport

Liverpool fans exonerated; 96 died at Hillsborough because of failings of police officer in command

Police could have spared families and own reputations by admitting conspiracy

Blame has now been correctly apportioned

US

Antitrust

SEC review of proposed DuPont-Dow Chemical merger should end by June

Consumer goods

Procter & Gamble reports higher profit, but continues to lose ground in China

Technology

Apple reports first revenue decline in 13 years

Olive branch for Apple could cost Samsung almost US$9 billion upfront

Twitter disappoints yet again

Tuesday
Apr262016

26 April 2016, Tuesday

Autos

BMW X1 and X4 to be assembled locally; 3 Series Gran Turismo, X3 and 5 Series cheaper by 9%

Launch of long-awaited new Proton Perdana deferred

Aviation

Malaysia Airports wants to develop area around KLIA into aeropolis

Banks

Zeti’s successor still unknown

Beverages

New excise duties regime may cause beer companies to rethink alcohol content in drinks

Heineken Malaysia MD discusses impact of GST

Capital markets

Bursa Malaysia’s Q1 profit up 6%

Guinness Anchor to trade as Heineken Malaysia starting tomorrow

Tanah Makmur’s major shareholder proposes to privatise company

Constitutional law

National Registration Department appeals against landmark decision

Earnings

Dutch Lady's Q1 profit almost doubles

Finance

Troubled 1MDB confirms default on US$1.75 billion bond

Difficult for 1MDB bond prices to trade up to potential until dispute resolved

Legal profession

CPD programme mandatory for junior lawyers first due to ‘limited resources’

Is there an uneven playing field among male and female lawyers in Malaysia?

Management

Gabungan AQRS CEO re-designated executive vice-chairman in management shuffle

Lembaga Tabung Haji group MD/CEO said to be leaving for Sime Darby

Oil and gas

CLIQ Energy files winding-up petition

Hibiscus Petroleum ‘most likely’ will start drilling at Australia’s Sea Lion in 2019

Real estate

AmBank financing SP Setia’s Setia Eco Templer township project

KLK Land’s Hibiscus 2 in Sungai Buloh open for registration

Niche developer Purcon has 16 projects in the pipeline

Employees Provident Fund offers RM422 million for 80% stake in MRCB parcel

Hektar REIT keen on neighbourhood mall in second-tier city

Landmark Central in Kedah to get RM20 million makeover

Damansara Uptown’s own shopping centre opens November

Telecommunications

Price war just heating up; newcomer Webe making its debut soon

Tobacco

British American Tobacco requests moratorium on further excise duty hikes

Tort

Quantum of damages awarded to former PKNS manager slashed from RM300k to RM100k

Anak liable for publication of libellous book implying Felda was a loan shark

ASIA

Technology

SWIFT acknowledges Bangladesh Bank attack not an isolated incident

Tobacco

Philip Morris Thailand denies dodging excise taxes

AUSTRALIA

Banks

Treasurer running out of time to anoint new boss of Reserve Bank of Australia

Property

Sydney’s Terminus Hotel, dormant since 1984, sold for A$5 million to private developer

REA adds share accommodation website Flatmates.com.au to portfolio

Victoria raising property taxes for foreign purchasers to 7% from July

EUROPE

Antitrust

Hutchison-O2 deal blocked

Packaging maker Ardagh acquiring some assets of beverage can makers Ball and Rexam

Employment

HSBC trader fired for sending client data to personal Yahoo e-mail address sues for unfair dismissal

SINGAPORE

Insurance

Great Eastern’s Q1 profit down 56%

Intellectual property

Event management company Audience Motivation wins case on appeal against Chengdu rival

Tort

TWG Tea co-founder’s claims against OSIM boss dismissed

UK

Energy

Furniture retailer IKEA now stocks solar panels

Fashion

Alexander McQueen accused of copying design for ‘world’s most famous wedding dress’

Insurance

Phoenix close to securing £500 million buyout of Sun Life from Axa

Retail

BHS managers had no option but to place it into administration

Other familiar high street names that have disappeared

US

Property

Former Sony Building in Manhattan has new owner and new — but as yet unknown — name

Technology

Xerox revenue hurt by lower sales of printers and copiers

Monday
Apr252016

25 April 2016, Monday

Airlines

Country’s first Shariah-compliant airline Rayani could lose licence

CEO promises to pay wages owed after threat of legal action

Banks

Foreign funds wooing AMMB chairman with view to buying up ANZ’s stake in AmBank

Banks busy with upgrades to meet new standard on loan impairment under MFRS 9

Capital markets

Bursa Malaysia could see more listings

Construction

Gamuda, IJM among those seen to benefit from rollouts of mega infrastructure projects

Puncak ‘can easily afford’ outright takeover of TRIplc

Family law

Underage marriage never intended to legitimise rape cases

Finance

1MDB president explains what derailed asset for debt settlement with IPIC

Seychelles helping probe into troubled 1MDB

Finance ministry staying out of 1MDB-IPIC tiff

Franchising

Iconic A&W restaurant may learn fate by end-2016

Infrastructure

Ekovest may monetise highway assets via stake sale or flotation of infrastructure arm

Islamic finance

500-page book that discusses 20 key cases to be launched tomorrow

Legal profession

Publication on legal industry aims to correct perception of what it means to ‘practise’ law

Logistics

Tiong Nam continues to diversify into property development, e-commerce and heavy project cargo

Management

CEO of Hong Leong MSIG Takaful quits

Oil and gas

High time for Malaysian players to seek jobs abroad

Plantations

Genome-select high-yielding oil palms will improve Sime Darby Plantation’s earnings

Property

Seven penthouses within Klang Valley that are going for RM1 million or less

Retail

LuLu’s first store opening soon

Technology

JCY first Malaysian PLC to join principal hub initiative

20 MNCs could join PH scheme by end-2016

Telecommunications

DiGi.Com’s Q1 profit down 17%

Maxis lost more than a million customers to competitors

What subscribers expect from telco service providers

Transport

Uber and GrabCar drivers will need public service vehicle licence

ASIA

Autos

Toyota pushing forward with hybrids in China despite subsidies snub

Capital markets

Bank of Japan owns more Japanese blue-chips than both BlackRock and Vanguard

AUSTRALIA

Franchising

Legal firm proposes Pizza Hut, 7-Eleven made liable for franchisees who breach workplace laws

Real estate

Yet-to-open mall and five-star Novotel on Collins on the market

EUROPE

Autos

Neither VW nor Daimler able to back up claims on green cars

Pharmaceuticals

Novartis disposing of Roche stake in order book process

GLOBAL

Autos

Automakers have to be clearer about certification of fuel economy and emission ratings

Mergers and acquisitions

Partnerships increasingly popular

SINGAPORE

Banks

Former private banker with BSI charged with money laundering

Construction

Marco Polo Marine granted stay of court proceedings

Healthcare

Raffles Medical’s Q1 earnings up on contributions from healthcare, hospital services divisions

UK

Employment

Citigroup trader suspended while on maternity leave wins case for unfair dismissal

Property

Dealing with alteration and repair clauses that appear to conflict

Retail

BHS approaches collapse; worst retail failure since 2008

Wealth

Mumbai-born brothers top latest Sunday Times rich list

US

Autos

Ford not keen on tie-up with Fiat Chrysler

Real estate

Luxury property market coming down from a high

Aparium not first hotel operator lured to rehab business

Friday
Apr222016

22 April 2016, Friday

Aviation

German chief's abrupt exit revives debate over wisdom of picking foreigner to lead Malaysia Airlines

Celcom Axiata CEO not taking over hot seat

‘Hard reset’ again unsuccessful

Search for missing MH370 will stop when it reaches 120,000 sq km

Construction

Poratha claiming RM7.45 million from Eversendai subsidiary

Earnings

Carlsberg Brewery expecting tough FY16

JCorp’s profit up RM1.7 billion for FY15

Energy

Malakoff eyeing expansion opportunities to meet targeted capacity by 2020

Healthcare

IHH to buy Bulgaria’s Tokuda Hospital

Insurance

AIA records double-digit growth in new business by value in Malaysia

Allianz veteran appointed CEO of life insurance arm

Investment

Grace period for US$50 million coupon payment due on 1MDB bond expiring

1MDB affair could become important test of how world deals with cross-border corruption

Islamic finance

Employees Provident Fund will open Islamic retirement plan in January 2017

Malaysia sells US$1.5 billion Sukuk amid ringgit rebound

Manufacturing

Prices of rubber gloves set to rise further

Media

High dividend indicates Media Prima’s resilient financial performance

Negligence

Selangor Specialist Hospital ordered to pay Tabung Haji officer RM67k

Oil and gas

Hibiscus Petroleum files claim in Singapore against Rex International

Shipbuilders facing huge losses as O&G service providers cancel orders for vessels

Property

Tycoon may be eyeing stake in Iskandar Waterfront

Telecommunications

Celcom Axiata refuses to be drawn into spiralling price war

Company allocating RM1 billion for expansion of 4G service areas

Maxis reports 26% increase in Q1 profit

ASIA

Aviation

BOC Aviation gets go-ahead for IPO

Insurance

India to get first life-insurance listing since opening up to private-sector investors

Media

Video streaming giant Netflix’s launch into 130 new markets worldwide has been bumpy

Technology

Sony assessing impact of earthquake on earnings

AUSTRALIA

Graft

Files belonging to corrupt Unaoil seized as part of ASIC investigation into leading executives

Oil and gas

Malaysia’s Bumi Armada claiming US$283 million in damages from Woodside Petroleum

EUROPE

Autos

Porsche heir’s increasing involvement at Volkswagen coincides with latter’s worst crisis

Shipping

CMA CGM’s takeover of Neptune Orient Lines likely to win conditional approval

Germany’s Hapag-Lloyd and rival United Arab Shipping in talks to merge

SINGAPORE

Capital markets

Central bank, CAD probing possible breaches of Securities and Futures Act

Data protection

Karaoke chain K Box fined S$50k

Gaming

Mogul may sell Marina Bay Sands’ retail assets next year

Property

Developers get creative in marketing projects

UK

Energy

Centrica to buy Denmark-based Neas Energy for £170 million

Technology

Daily Mail parent could partner others for Yahoo’s core Internet business

US

Entertainment

Innovative pop superstar Prince dies at 57

Real estate

Home sales in New York’s Hamptons down 20% to 45 deals

Technology

Dell unit raises less than hoped for in US’ first tech IPO

Google’s parent Alphabet misses revenue targets

Microsoft’s Q3 earnings fall short of estimates

Uber drivers classified as independent contractors

Tobacco

Philip Morris looking to improve profits and health via ‘reduced-risk products’

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