South East Asia

Date

Australia ranks 15th among more than 40 countries and territories investing in the Long An Province. More than 30 representatives from Australian businesses and associations participated in an investment promotion conference organised by the Mekong Delta province of Long An and the Vietnam Business Association of Australia (VBAA) in Melbourne on September 28.....


ACEN Corp. said it is seeking board approval to acquire Sinocalan Solar Power Corp., which is developing a solar power farm in Pangasinan. The listed energy platform of the Ayala group disclosed Thursday its planned investment in a 60MW solar plant in Pangasinan through the acquisition of Sinocalan Solar Power, the project’s special purpose vehicle.....


Cambodia and Indonesia have pledged to enhance tourism cooperation, and agreed on a five-pronged strategy to revive travel to either country as Covid-19 headwinds abate, according to the tourism ministry. The commitment was made during a bilateral meeting between Minister of Tourism Thong Khon and his Indonesian counterpart Sandiaga Uno on September 27 – coinciding with the 42nd World Tourism Day – on the sidelines of the Group of 20 …


2022-09-30

Up to last year, Germany has disbursed around $670 million in grant aid, equivalent to 2.6 percent of the total grand funding provided by development partners to Cambodia. The figures were shared in a courtesy meeting here on Wednesday between Chhieng Yanara, Minister attached to the Prime Minister and Secretary General of the Cambodian Rehabilitation and Development Board of the Council for the Development of Cambodia (CRDB/CDC), and Stefan Anto…


2022-09-30

The government is preparing a regulation draft on carbon capture storage (CCS) and carbon capture utilization and storage (CCUS) as the country seeks to push its adoption to reduce carbon emissions from hard-to-abate industries, but whether this will be effective depends largely on a working financing mechanism. Alloysius Joko Purwanto, an energy economist at the Economic Research Institute for ASEAN and East Asia (ERIA), said that the success of…


2022-09-30

Maybank Investment Bank Bhd expects AirAsia parent Capital A Bhd's return to profitability to be delayed by a year to financial year 2024 (FY24) due to slower than expected redeployment of aircraft. The firm said challenges still remained in the post-Covid environment as the ringgit had weakened past RM4.50 against the US dollar.... More https://bit.ly/3ft0VcI Via nst.com.my


The developer wants to become a net-zero carbon corporation by 2050 Integrated developer Frasers Property (Thailand) Plc (FPT) continues its journey towards meeting environmental, social and governance (ESG) as well as sustainability goals as it aims to be a net-zero carbon corporation by 2050 Thanapol Sirithanachai, country chief executive officer, said the property industry plays a decarbonisation as it is responsible for roughly 40% of total g…


INDONESIA’S digital banks are at the risk of facing asset quality “hiccups” even as they continue to gain market share and book profit improvements on the back of robust loan growth, according to UOB Kay Hian (UOBKH).  In a Thursday (Sep 29) report, analyst Posmarito Pakpahan noted that 3 of the country’s digital banks – Bank Jago, Seabank and Bank Neo Commerce – have collectively raised their loan loss re…


Singapore sovereign wealth fund GIC is on the hunt for property deals and corporate partners across Japan as the falling yen and border reopening trigger a rush of tourists and deals. Hotels, resorts and ryokan, or traditional Japanese inns, in key cities including Tokyo and Okinawa are among the types of properties being evaluated, its head of global investment and portfolio strategy, Mr Goh Chin Kiong, said in an interview.....


The cost for Singtel to make up for one of Australia's worst data breaches risks wiping out more than one-quarter of its annual profit. Optus, Singtel's Australian mobile phone business, last week revealed that hackers had accessed the personal information of as many as 9.8 million customers - over one-third of the population. Some 2.8 million of them lost details of passports, driver's licences or government-issued medical identity car…


Under the new rules, private home owners will have to wait 15 months after they sell their property, before they are eligible to buy a Housing Board resale flat.  The Government on Thursday (Sep 29) introduced a slew of new property cooling measures aimed at moderating demand amid rising market interest rates. The measures include tightening maximum loan quantum limits and introducing a 15-month wait-out period for private home owners b…


2022-09-30

Asia Risk, FOW accolades underscore strength of multi-asset service offering SGX Chairman receives FOW’s Lifetime Achievement Award Singapore Exchange (SGX Group) has clinched two Exchange of the Year awards for delivering a robust service offering across multiple asset classes amid growing institutional demand for trusted investment and risk-management solutions. SGX Group retained “Derivatives Exchange of the Year” at the Asi…


The company FIS Co Ltd has expressed interest in importing potentially lucrative agricultural items from Cambodia for distribution to Japan, as cashew nuts and products thereof reportedly gain popularity among Japanese consumers. This came during a meeting between Cambodian ambassador to Japan Tuy Ry and FIS representatives Hidemasa Miyamoto and Li Koshi at the Kingdom’s embassy in the East Asian archipelago nation on September 9, as report…


2022-09-29

The World Bank has said that new rules on investment brought about by the Job Creation Law should be complemented by trade policy reforms for Indonesia to attract more investment. In a virtual press briefing on Tuesday, the institution explained that changes in trade policies were paramount to support the massive “investment diversion” to Southeast Asian countries as a result of the Russian invasion of Ukraine and pandemic-related dis…


2022-09-29

DHL Express will have 61 electric vehicles (EVs) in Malaysia by 2023 as the company aims to improve its carbon footprint. DHL Express Malaysia and Brunei managing director Julian Neo said the company was actively electrifying its fleet across the region to reach its target of electrifying 60 per cent of its fleet by 2030..... More https://bit.ly/3SJTCeT Via nst.com.my


Investors in cannabis businesses are calling on the government to clarify its support as well as laws related to cannabis usage, fearing the fledging industry may be affected by the House of Representatives' withdrawal of the Cannabis and Hemp Bill from its agenda earlier this month. The Democrat Party decided not to support the bill, sponsored by Bhumjaithai Party, reasoning that the proposed law would encourage recreational use of cannabis, esp…


THE INFORMATION TECHNOLOGY and business process management (IT-BPM) industry is targeting to generate as much as $59 billion in revenues by 2028, as it sees continued growth despite the dimming global outlook. IT and Business Process Association of the Philippines (IBPAP) President Jack Madrid said on Wednesday that the industry expects to grow annually by 8% in the next six years....


AT FIRST glance, there may appear to be few similarities between the economies of Vietnam and Singapore. One is a leading exporter of consumer electronics, textiles and footwear. Another is a global hub for shipping, technology and financial services. Yet as is the case in many successful partnerships, strong potential synergies exist. One key area for cooperation is digitalisation. In February 2022, Vietnamese President Nguyen Xuan Phuc visited …


THAILAND’S manufacturing production index (MPI) in August rose a more than expected 14.52 per cent from a year earlier, helped by an easing of Covid-19 curbs, the industry ministry said on Wednesday.That compares with a forecast rise of 10.1 per cent in factory output for August in a Reuters poll, and after July’s revised 6.39 per cent rise from a year earlier....


Keppel Shipyard, a wholly-owned subsidiary of Keppel Corporation's offshore and marine (O&M) arm, on Wednesday announced that it has secured a repeat contract for a newbuild floating production, storage and offloading (FPSO) vessel worth about US$2.8 billion ($4 billion). The tender for this contract was from Brazil's national oil company, Petroleo Brasileiro (Petrobras). The contract will see Keppel O&M undertake the engineering, procure…


Sats has agreed to buy the world’s largest air cargo handler Worldwide Flight Services (WFS) at an enterprise value of €2.25 billion (S$3.1 billion), a move which will elevate the Singapore-listed firm to be a leader in aviation services. The in-flight caterer and ground handler will pay about $1.64 billion in cash for the Paris-based company, it said in an exchange filing on Wednesday, after calling for a trading halt earlier in the m…


Cambodia and the UK have pledged to further boost trade cooperation after January-August bilateral trade soared more than two-fifths compared to the same period last year.   In the first eight months of 2022, trade between the two countries totalled $687.002 million, up 44.0 per cent year-on-year, with Cambodian exports to the UK worth $627.223 million, rising 42.1 per cent, and imports amounting to $59.778 million, surging 67.4 per cent, ac…


2022-09-28

Cambodia and Vietnam have commended the significant increase in bilateral trade despite the disruptions caused by the Covid-19 pandemic and stressed their commitment to further boost the trade relations. The remarks were made at a meeting between Cambodian Prime Minister Hun Sen and Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam, on September 27 in Tokyo. Both the leaders are in Japan to attend the State Funeral of former Japane…


Processing - manufacturing and real estate are the biggest magnets for foreign direct investment (FDI) in the first nine months of 2022, statistics showed.As of September 20, registered FDI totalled 18.7 billion USD, down 15.3% year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).....


Minister of Construction Nguyen Thanh Nghi held a working session with Cuban Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz in Hanoi on September 27.Minister Nghi noted that the implementation of the two countries’ trade agreement has not produced desired outcomes due to the COVID-19 pandemic.....


2022-09-28

The World Bank has raised its growth forecast for the Philippines this year, citing strong recovery in consumption. In the East Asia and the Pacific Economic Update October 2022 report released yesterday, the World Bank now expects the country’s gross domestic product (GDP) growth at 6.5 percent for this year, up from the 5.7 percent forecast it provided in April..... More https://bit.ly/3UDjATc Via philstar.com


Thai Airways International Plc (THAI) has been named as No. 4 in world for the best airline cabin crew and best airline staff in Asia Skytrax 2022 World Airline Awards. The announcement was recently made at the Langham Hotel in London. The airline also achieved several recognitions in Skytrax's global recognisions in the following categories: eighth in the world's best airport services, eighth in best economy class airline catering; and 10th in f…


The Prime Location Public Housing model will help prevent central areas from becoming exclusive neighbourhoods that only the well-to-do can enjoy in private housing, said National Development Minister Desmond Lee. Since the first launch in November last year, application rates for Build-to-Order (BTO) flats in prime areas have slowed.  There have been five developments under the Prime Location Public Housing (PLH) model, which will see Housi…


WHILE the application process for Malaysia’s new premium visa programme (PVIP) only begins on Saturday (Oct 1), the government said it has already received thousands of applications from interested parties from all over the world. Home Minister Hamzah Zainudin noted that 20,000 applications came in within the first week after the government announced the visa earlier this month. The special visa scheme, aimed at attracting global tycoons to…


Singapore has moved up one spot to place fourth in the latest edition of the IMD World Digital Competitiveness Ranking, after Denmark, the United States and Sweden. The Republic's progress was driven by an enhancement in tertiary education (improvement in pupil-teacher ratio), an increase in its share of employees working in research and development (R&D), and improvements in regulation conducive to overseas talent attraction and scienti…


The Philippines and the rest of Southeast Asia are “highly vulnerable” to major threat actors, such as China, Russia and North Korea, as far as cyber crimes are concerned, according to a cyber security technology firm Crowdstrike. In a recent online press briefing, Crowdstrike Vice President Adam Meyers said threats such as malware and non-malware are prevalent in the region.  He also warned that China is “a very aggressive…


Locally-invested TH Group on September 26 debuted its set of herbal teas with filter bags, named TH true HERBAL, including many speciality products with jiaogulan, passion flower, ginger, and chrysanthemum. The TH true HERBAL products use herbal materials cultivated in the Vietnamese territory, especially in the Muong Long area in the central province of Nghe An’s Ky Son district where TH Group is now operating its Muong Long Centre for C…


First-half (H1) bicycle exports surged by 55.48 per cent year-on-year, the finance ministry confirmed, extending a multi-year uptrend driven by growing eco-consciousness, health concerns and fitness culture, and more recently, Covid-linked lifestyle shifts and elevated fuel prices. Cambodia’s January-June bicycle exports were worth a total of $455.89 million, versus the $293.2 million recorded in the same period last year, according to the …


Prime Minister Hun Sen has invited Bangladeshi companies to invest in rice processing warehouses and rice mills in Cambodia for export to Bangladesh, while also encouraging the South Asian country to increase imports of the Kingdom's rice. The premier met with Bangladeshi Prime Minister Sheikh Hasina on September 23 on the sidelines of the 77th UN General Assembly (UNGA) in the US' New York City.....


2022-09-27

Banks in Malaysia say Bank Negara Malaysia's new measures to combat financial crimes may lead to changes in customers' online banking experiences and expectations. Throwing their support to the measures, the Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and The Association of Development Finance Institutions Malaysia (ADFIM) said online banking transactions could take a slightly…


2022-09-27

With the growth of competition in Indonesia’s economy, MSMEs need all the help they can get to be able to perform to the best of their abilities, facing big corporations and more. Tokopedia Marketing Solutions makes it easier for strategic partners, especially businesses in Indonesia of various scales, to maximize the potential of e-commerce platforms in their marketing strategies. "Tokopedia Marketing Solutions is a comprehensive marketing…


Last month, khao soi beat 99 other soup dishes from around the world to top the rankings on TasteAtlas, an online food guide for travellers. There has been hype surrounding a creamy noodle soup dish from northern Thailand called “khao soi”.  Last month, it was ranked as the best soup in the world on TasteAtlas - an online travel guide focusing on food and featuring reviews as well as recommendations from culinary professiona…


Measures include more secure forms of user authentication and a cooling-off period for first-time online registrations. Malaysia’s central bank has announced a slew of additional measures and security features to curb the rising number of financial scams.  In a speech at a financial crime exhibition on Monday (Sep 26), Bank Negara Malaysia (BNM) governor Nor Shamsiah Mohd said that the measures include requiring banks to migrate from S…


The ripple effects of the British pound's plunge could lead to some opportunities for businesses in Singapore and Singaporeans, but some businesses are feeling the heat. On Monday, the sterling dropped as much as 4.9 per cent to an all-time low of US$1.0327 before stabilising at around US$1.05405.....


The Bank of Thailand (BoT) is closely monitoring the baht currency's weakness but there has been no big concern yet, the finance minister said on Monday, as the currency hit its lowest in 16 years against the dollar. "On baht weakness, the central bank is always taking care of what assigned. There isn't much of anything right now. Nothing seriousArkhom Termpittayapaisith told reporters.....   Please credit and share this article with ot…


2022-09-26

Vietnam’s exports to Cambodia in the first eight months of 2022 reached the highest scale compared to the same period in previous years. Cambodia is the 11th largest export market among markets, accounting for nearly 1.7% of Vietnam’s total export turnover. Compared to the same period last year, exports to Cambodia increased at a relatively high rate (32.7%, much higher than the general growth rate of 18.2%), or increased by $1,029 mi…


2022-09-26

President Joko “Jokowi” Widodo has asked state-owned enterprises (SOEs) along with their venture-capital arms to be more involved in aiding home-grown start-ups, hoping it can boost the country’s digital economic resilience amid the highly competitive tech-firm market. Jokowi said on Monday that he was aware many start-ups had been facing a high probability of failure, as around 80-90 percent of them went bust in their early sta…


The 2022 Horasis India Meeting, the foremost annual meeting of Indian business leaders and their global counterparts, opened in the southern province of Binh Duong – Vietnam’s FDI magnet - on September 26.The opening ceremony was attended by Deputy Prime Minister Vu Duc Dam, Minister of State at the Indian Foreign Ministry Rajkumar Ranjan Singh, leaders of Horasis, and delegates from the Confederation of Indian Industry (CII), an…


Vietnam is one of the 10 most beautiful destinations that tourists should consider when planning a faraway trip for themselves and their families. The German travel news site reisereporter.de has listed Việt Nam among the ten most charming destinations for German holiday-makers to explore and escape the upcoming winter in Europe....


2022-09-26

The country’s top tycoons have reaffirmed their support for the Marcos administration as the government’s economic managers assured the business community of their renewed commitment to public-private partnerships. During the Philippine Economic Briefing (PEB) in New York last week, Ayala Corp. chairman Jaime Augusto Zobel de Ayala said it was now up to the private sector to maximize the favorable business environment under the Marcos…


2022-09-26

Malaysia Airlines Bhd, an airline unit of Malaysia Aviation Group (MAG), is believed to be returning all six of its Airbus A380 to aircraft manufacturer Airbus by year-end. The New Straits Times learnt that the plan was part of a deal made following the airline's recent purchase of 20 new A330-900 neo (new engine option) in August this year.....


Most people prefer to relax on weekends but diamond miner Salim, 47, does not have the luxury. On a scorching hot Sunday, Salim was toiling in water up to his waist, hoping that he would find a gem in Indonesia’s biggest traditional diamond mine Cempaka in Banjarbaru city, South Kalimantan.....


SOME 24 British technology companies are in Singapore exploring growth opportunities in Asia-Pacific, leveraging the landmark United Kingdom-Singapore Digital Economy Agreement (DEA) which entered into force on Jun 14 this year. The UK-Singapore DEA - a treaty that establishes digital trade rules and digital economy collaborations - is Singapore’s third DEA, following similar agreements with Chile, New Zealand and Australia.....