LHAG Advocates And Solicitors LHAG Advocates And Solicitors

Daily News

24 November 2021

COVID-19 UPDATE

Virus now leading cause of death in Europe and central Asia

Spain-WHO deal paves way for antibody test to be produced more cheaply in developing countries

EU decision on Merck’s experimental molnupiravir ‘within weeks’

US FDA and advisers will decide on emergency use authorisation for molnupiravir end-November

Pandemic-spurred demand for flu vaccines in India has surged since devastating second wave

MALAYSIA

Autos

Tan Chong Motor’s net loss widens

Capital markets

Bursa Malaysia takes Serba Dinamik to court over findings

Applications for further extension of relief measures will be on case-by-case basis

Earnings

George Kent profit affected by impairment from disposal of investment in MRCB George Kent

Leong Hup in the red

Oriental Holdings declares dividend

Wah Seong seen to record better earnings in 2022

Energy

Consumers can opt for electricity supply from RE sources starting January 2022

Insurance

60% of motorists lack adequate protection against flood damage

Takaful Malaysia’s Q3 profit down 11% on lower net wakalah fee income

Plantations

Batu Kawan expects plantation segment’s strong performance to continue

Boustead Plantations’ Q3 profit up fivefold amid higher CPO prices

KL Kepong’s Q4 profit surges three-fold

TSH Resources’ Q3 profit up 87%

Property

Agreement requiring FELDA to deliver vacant possession of Jalan Semarak land was illegal

[Kumar Kanagasingam and Mong Chung Seng are partners, while Wong Han Wey and Medha Ong are associates with the Banking & Insolvency Practice at Lee Hishammuddin Allen & Gledhill]

Minetech Resources plans commercial project in prime area of Ampang, KL

S P Setia back in the black, digitalisation journey progressing well

Tax

Inland Revenue Board CEO says consumption tax one of most efficient means to widen tax base

Technology

Malaysian-born CEO of Taiwan-based Phison Electronics on growth trajectory, business strategy

Transportation

MISC sole Malaysian transportation sector company listed in Dow Jones Sustainability Indices

ASIA

Retail

Burberry closing flagship store on Hong Kong’s Russell Street

Technology

Singapore hedge fund 3D is Toshiba’s first major shareholder to formally oppose break-up plan

India proposes Bill to prohibit ‘all private cryptocurrencies’

SINGAPORE

Economy

Expansion at a faster pace in Q3 than initially estimated

Technology

Goldman Sachs advising Coda Payments on sale or IPO

UK

Capital markets

London attracts first SPAC since relaxing listing rules

Property

Park Lane apartment once home to founder of Selfridges available for £20 million

Retail

Asda chairman tasked with leading recruitment of new CEO

Sport

Owners of professional football clubs will be overseen by new licensing regime

US

Antitrust

DoJ sues to block proposed merger of sugar industry giants

Oil and gas

US takes rare step of releasing 50 million barrels of oil to lower prices

Release worth less than US$2/bbl

Real estate

Henry Ford II Estate featured in HBO’s Succession sells for US$105 million

Retail

Gap’s sales and profit forecasts fall short of Wall Street expectations

Technology

Apple latest to go after Israeli spyware firm NSO

Samsung plans US$17 billion factory in Texas, ‘largest FDI in the state, ever’

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