LHAG Advocates And Solicitors LHAG Advocates And Solicitors

News & Publications

16 July 2020

COVID-19 UPDATE

25,000 American Airlines employees could lose jobs in October

US department store chain JC Penney cutting jobs and shuttering stores

Vox Media, owner of New York magazine and The Verge, preparing for company-wide layoffs

Luxury brand Burberry, best known for iconic trench coat, slashing 500 roles

BBC, The Guardian to eliminate 250 jobs

International law firm Bryan Cave Leighton Paisner laying off 40 staff, closing Beijing outpost

University of New South Wales will axe nearly 500 full-time jobs to deal with funding shortfall

Genting-owned Resorts World Sentosa dismissing ‘significant’ number of staff

Airlines

AirAsia could soon restart flying to neighbouring Singapore

Firefly CEO on domestic demand for air travel, and whether it can survive global pandemic

Autos

Updated Perodua Myvi now comes in electric blue

Banks

InvestKL can leverage on China Construction Bank’s network via CCB Match Plus platform

CIMB’s offerings more accessible with new digital-first solutions

Capital markets

Bargain prices on blue chips, increased personal savings played a role in retail boom

Optimax looking to raise RM21 million from listing on ACE Market

Construction

Econpile clinches RM21 million contract from Allevia

Ireka has demerged from Aseana Properties

Earnings

Zhulian declares second interim dividend despite lower quarterly earnings

Education

Significant portion of students could not participate in online classes for over three months

Legislation

Protection of businesses, securing employment should be top most in formulating COVID-19 Bill

Manufacturing

MQTech, JD Resources to acquire glove manufacturer

Oil and gas

Sabah says Petronas should pay what is owed to the state

Pharmaceuticals

Duopharma Biotech and Pharmaniaga to fill and finish COVID-19 vaccine once available

Property

Gagasan Nadi Cergas unit to develop affordable housing in Serendah

Retail

AEON BiG can continue to operate store in Subang Jaya

Shipping

MISC acquires six Very Large Ethane Carriers for RM3 billion

Telecommunications

Axiata’s SmartLuy merges with Cambodia’s Pi Pay

Utilities

Salcon Engineering and Hong Kong’s The One Smart City Development ink JV

ASIA

Autos

Nissan Ariya is Japanese automaker’s answer to Tesla Model Y

Media

New York Times shifting Hong Kong-based digital news operation to South Korea

Technology

Search giant Google latest high-profile firm to back India’s Reliance Jio Platforms

Hong Kong’s Tricor hoping ‘SPOT’ takes off in same way as Zoom videoconferencing software

AUSTRALIA

Media

News Corp’s Australian unit proving to be biggest single drag on earnings

Real estate

Owners of Great Barrier Reef property Pumpkin Island hope to sell it for A$25 million

New Bellevue Hill development, ‘Splendour’, will overlook Sydney’s Cooper Park

EUROPE

Autos

Fiat Chrysler and PSA’s 50-50 merger will be known as 'Stellantis'

Tax

Apple does not have to pay €13 billion in back taxes to Ireland

EU needs to put forward more evidence in future

Apple’s win flags problems antitrust chief faces in bigger fight over corporate tax reform

GLOBAL

Financial regulation

Policymakers cannot be complacent

Insurance

Marsh & McLennan is world’s biggest global broker

SINGAPORE

Airlines

Slow recovery for Singapore Airlines

Banks

Deutsche Bank’s new CEO for Asia-Pacific relocating to Singapore next month

Dispute resolution

Use of mediation as ‘real alternative’ could pick up when Singapore Convention comes into force

Real estate

S-REITs ESR and Sabana propose to merge

UK

Health

High hopes for coronavirus vaccine being developed at Oxford

Shipping

Cruise & Maritime Voyages in 11th-hour talks about possible rescue deal

US

Commodities

Global grain trader Archer Daniels Midland accused of manipulating price of ethanol

Real estate

Los Angeles home used as frat house in Neighbors movie and sequel listed for US$1.5 million

Technology

PC maker Dell may spin off 81% stake in VMware

High-profile Twitter accounts compromised and used to solicit digital currency