Wynn faces another suit for the cash donation to University. The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.
Asia/Pacific
EPF Urges Petronas to Raise MISC Buyout Price
Petronas or Petroliam Nasional is being urged by Employees Provident Fund to increase its price to buyout liquefied natural gas shipper MISC.
Japex Set to Take 10% Stake in Petronas' LNG project in Canada.
Japan Petroleum Exploration will be taking 10% stake in the liquefied natural gas project being planned by Malaysia's oil firm Petronas in British Columbia, Canada.
Australia's Southern Cross Reaches 22-Month High On Potential Merger
Shares in Australia's rural broadcaster Southern Cross Media climbed to 22-month high when newspaper The Australian revealed that the company's board met about possible Nine Entertainment Co. merger.
Debut Bond reopened by Shun Tak
Shun Tak bond issue attracts investors from Asia and Europe. Shun Tak, the Macau conglomerate, issued its US$400 million seven year maturity bond in the hope that the issuance would re-open the market for unrated paper after the lunar new year break.
Latest News
Iconic Petronas Towers to be a REIT. A restructuring deal struck by KLCC Property Holdings Bhd would transform Malaysia's Petronas Towers into the country's largest real estate investment trust.
Foxconn to dissolve JV with Metro AG. Foxconn Technology Group, after its failed joint venture with Metro AG, a German retailer has said it will turn to China for expansion of its retail business.
Jaguar and Land Rover exploring deal with Tata Motors to manufacture vehicles in India. Jaguar Land Rover, one of Britain's most exclusive car brands, is said to be doing its due diligence as to the possibility of manufacturing its luxury cars in India.
Western Mining Board approves purchase of shares of PT Genesis Berkat Utama. Western Mining Network Ltd's Board has announced that the company has exercised its option to purchase 51% of total issued shares of PT Genesis Berkat Utama.
The consortium, which is under the control of Carlyle Group, and its company management have reached a deal to make Chinese economy hotel chain 7 Days Group Holdings Ltd. private for $688 million.
Nomura Holdings has been in negotiation to close a deal under which it will sell its stake in property firm Nomura Real Estate Holdings.
Rio extends budget after impasse with Mongolian government over mining project. The Rio Tinto subsidiary overseeing the Oyu Tolgui gold and copper project, Turquoise Hill Resources Ltd had announced that an extension on construction funding has been provided while discussions are ongoing with the Mongolian government to find a settlement for their dispute.
Consortium led by Carlyle Group purchases China's 7 Days Hotel chain. Chinese budget hotel chain 7 Days Group Holdings Ltd has reached a deal with a consortium of investors led by the Carlyle Group.
Nomura divests property interests for more liquidity. Nomura Holdings Inc has announced that it would lessen its exposure in Nomura Real Estate Holdings through a deal that will amount to US$577 million.
