South East Asia

Date

The Philippine export industry is recovering from the pandemic's impact and is expected to further grow as economies open worldwide while stakeholders embark on a digitalization and business continuity program. The lowering of the alert levels toward the full reopening of the economy, coupled with fast-tracking of the vaccination program, are critical interventions to help achieve our recovery and growth targets, Philippine Exporte…


BUDGET carrier Cebu Pacific on Sunday said it has earned the title “greenest airline in Asia” after receiving a long-haul airliner that has a higher capacity versus other jets and even similar models. Cebu Pacific Chief Strategy Officer Alex Reyes said the Airbus A330 neo of the Filipino budget carrier features 450 lightweight Recaro seats, which allows “more travelers to be carried in a single flight, resulting in the lowest ca…


The Philippines wants to strengthen its ties with Italy through greater trade and investments, according to the Department of Trade and Industry (DTI). During the 10th anniversary celebration of the Italian Chamber of Commerce in the Philippines Inc., Trade Secretary Ramon Lopez said there is still a lot of room for opportunities for the countries’ bilateral economic relations.....


Business reporters of The Philippine STAR were recognized for their coverage of their respective beats last year at the 30th Economic Journalists Association of the Philippines (EJAP) Business Journalism Awards. EJAP, the premier organization of business reporters and editors in the country, in partnership with the Ayala Group of Companies, announced the winners last Nov. 25, through a virtual ceremony held amid the ongoing COVID-19 pandemic.....


Dagang NeXchange Bhd (DNeX) business unit, SilTerra Malaysia Sdn Bhd (SMSB), has entered into a multi-year wafer supply and purchase agreement with ILI Technology Corp (ITC), a touch controller and integrated driver circuit (IC) fabless design house based in Taiwan. Under the agreement terms, SMSB will work with ITC on technology development and wafer manufacturing for touch controller and display driver (IC) for the industrial and home appliance…


Indonesian President Joko Widodo on Monday said his government would ensure legal certainty for investment, after a court last week ruled a controversial job creation law was unconstitutional. The court said there were procedural flaws in formation of the legislation passed last year, which saw the revision of more than 70 existing laws, and told the government to amend it within two years.....


Thai exports are expected to grow 17% this year, the highest growth rate in 12 years, the country's finance minister Arkhom Termpittayapaisith said on Monday. Mr Arkhom also told an online forum that gross domestic product next year should grow around 4% or in a range of 3.5% to 4.5%.     The economy shrank by 0.3% in the third quarter, as Covid-19 restrictions hit tourism and domestic activity, though the drop was less than expected.…


Bank Indonesia (BI) forecasts a significant acceleration in loan disbursement next year as it plans to encourage banks to reduce excessive liquidity and spur lending to buoy a recovering economy. Credit growth is forecast to stand between 6 and 8 percent next year, picking up from between 4 and 6 percent this year, according to BI Governor Perry Warjiyo.This article was published in thejakartapost.com with the title "BI expects rapid lo…


Newly published research by the Social and Economic Research Institution at the University of Indonesia Economy and Business School (LPEM FEB UI) has revealed that the presence of Grab has boosted economic activity in Kupang, East Nusa Tenggara, and Jayapura, Papua, highlighting the benefits of digital technology for the regions. The research studied the luminosity of night lighting in Kupang and Jayapura, discovering that the level of luminosity…


The launch of Singapore’s vaccinated travel lane (VTL) arrangements with Qatar, Saudi Arabia and the United Arab Emirates will be deferred as a “precautionary move” to reduce the risk of importation and spread of the new Omicron COVID-19 variant. VTLs for these countries, originally scheduled to launch from Dec 6, will now be deferred “until further notice”, the Ministry of Health (MOH) said on Sunday (Nov …


Like many Singaporeans, 30-year-old Cassandra Sim has been working from home for months amid the pandemic. But unlike most Singaporeans, knocking off work for her means having the freedom to sail in the French Riviera, visit vineyards in Austria, hike up mountains in Romania and explore 13th-century church ruins in Estonia....


Singapore and Malaysia launched vaccinated travel lanes (VTL) via air and land on Monday (Nov 29), with thousands of people set to cross the border. The VTL between Changi Airport and Kuala Lumpur International Airport was announced on Nov 8, while the land VTL via the Causeway was announced last week.CNA has journalists travelling by bus in both directions, and at Changi Airport and Kuala Lumpur International Airport. Follow the d…


Cambodia attracted new foreign direct investment (FDI) of $39 billion at the end of the first semester of this year, a year-on-year increase of 9.6 percent, the National Bank of Cambodia’s statistics showed. China was the largest source of registered FDI with $17.3 billion or 44.2 percent of the total registered investment capital among countries with newly licensed investment projects in Cambodia during the period.....


Foreign direct investment (FDI) registered in Vietnam reached 26.46 billion USD as of November 20, up 0.1 percent year on year, according to the Ministry of Planning and Investment.Notably, the total additional registered capital stood at over 8 billion USD, an annual rise of 26.7 percent.During the period, 14.1 billion USD was poured into 1,577 newly-licensed projects, up 3.76 percent in value but down 31.8 percent in volume over …


Climate change; diversity, equity and inclusion; and the impact of remote working on mental health have triggered open and often difficult conversations at the workplace. This confluence of trends is putting increasing pressure on employees, both personally and professionally, thrusting employee wellbeing into the spotlight as a much-required value proposition for organisations to thrive. Amidst this new era of human capital management, HR profes…


As Americans celebrated Thanksgiving with turkey prices at record highs, another poultry dish that’s a beloved holiday tradition could be in short supply: fried chicken in Japan. Convenience stores in Japan like 7-Eleven and FamilyMart are running low on fried chicken for their holiday platters due to plant closures in Thailand, one of the world’s major chicken producers, following a spike in coronavirus cases there in previous months…


New digital entrants and new capabilities in Malaysia's banking sector will create higher standards and fuel a more vibrant financial services marketplace, top bankers said. Overall, they said digital banking will enhance banking access to all, allowing everyone to participate in the digital economy, which will be positive for the country's economic progress.....


The Philippines still has the potential to rise as an economic powerhouse in the region in a post-COVID world, even as recovery from the pandemic remains fragile, the World Bank said. In a webinar, World Bank country director Ndiame Diop said the Philippines is likely to rebound “very solidly” this year and gradually recover going forward....


Customer-facing companies like banks are not alone when it comes to digital vulnerability with manufacturers worldwide increasingly hit by cyber-based disruptions.   Zurich-based insurer Chubb noted that Singapore's pivot to advanced manufacturing means cyber exposure will become a prominent feature of the country's risk profile.....


Brazilian multinational aerospace manufacturer Embraer S.A expects Malaysia will operate 60 new commercial aircraft with a capacity of less than 150 seats over the next decade. President and chief executive officer (commercial aviation business unit) Arjan Meijer believes Embraer's E195-E2 will be the leading aircraft best suited to operate in Malaysia by 2030....


The Transportation Ministry continues to push for electric vehicle (EV) adoption with the aim to reduce carbon emissions, the ministry’s land transportation director, Budi Setiyadi, has said. Presidential Regulation No. 55/2019 stipulates a road map for accelerating EV adoption as part of the government’s efforts to reduce greenhouse gas (GHG) emissions by 29 percent by 2030. It includes stipulations on EVs for government use and urba…


The price of Cambodia’s pepper  is expected to increase to 20,000 riel ($5) per kilogram next year, thanks to the recovery of global economies. The price of non-geographical indicator (GI) pepper was down to below $2.5 per kg in 2020 when the Covid-19 pandemic hit countries to close down the economy-related sector, said Mak Ny, president of the Cambodian Pepper and Spices Federation (CPSF).....


Eurasian senior officials and private sector representatives on November 25 agreed to work together to prop up global supply and value chains and overcome the challenges posed by the current Covid-19 crisis. Efforts will involve fleshing out a path towards meaningful digitalisation and adaptation to the obligatory changes, to ensure the reliability and resilience of international trade flows.   The consensus was reached at the virtual 1st As…


The South Australia – Vietnam Business Council (SAVBC) officially debuted in Australia on November 27, offering a new trade connectivity channel for the two countries’ businesses.Speaking at the event, SAVBC Chairman Francis Wong, who is also representative of Becamex IDC in Australia, said the SAVBC’s establishment is expected to help private sector in South Australia state better tap opportunities and build clos…


The Vietnamese Embassy and Vietnam Trade Office in Australia have launched a programme marketing two tonnes of Vietnamese whole frozen passion fruit products in a bid to increase the share of the fruit in the market.According to the trade office, Australia produces more than 4,700 tonnes of passion fruit per year. Notably, 91 percent of passion fruit grown in Australia is marketed as fruit.....


EVEN at a very young age, Drake Dustin Ibay, 30, was keen on crystals and gemstones, and his five-year-old Lvna (pronounced "Luna") Jewelry is a direct result of this fascination. Launched primarily as an online venture, the Covid-19 induced lockdowns have been responsible for keeping it afloat and active.....


IT is Christmas season once again. The most awaited time of the year because of the festivities, get-togethers and also it is the time, we receive our 13th Month Pay or Christmas Bonus. But they also say that there is something about Christmas that is magical, money just seems to disappear into thin air. So, have you planned out on what to do with your Christmas Bonus? If you have not yet, I will be sharing with you some ways on how to …


Consultancy firm EnterPH teamed up with a Dubai-based business setup advisory company to help bring more Philippine enterprises to the United Arab Emirates (UAE). EnterPH—led by entrepreneurs RJ Ledesma and Ricardo Chan—announced its strategic partnership with Creative Zone, which will provide a platform for small and medium enterprises (SMEs) and aspiring startups looking to open their business in Dubai and other Gulf Cooperation Cou…


Economic and trade ties between Vietnam and Switzerland have developed strongly and effectively across spheres, and would grow further in the time ahead.The view was shared by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Swiss State Secretary for Economic Affairs Marie-Gabrielle Ineichen-Fleisch during their working session on November 26, as part of President Nguyen Xuan Phuc’s ongoing official visit t…


Cambodia and Vietnam are committed to strengthen the cooperation between the two countries’ central banks. The commitment was made in a recent meeting between Chea Chanto, Governor of the National Bank of Cambodia (NBC) and Ms. Nguyen Thi Hong, Governor of the State Bank of Vietnam (SBV) through a videoconference....


Asset World Corporation Plc (AWC), Thailand's leading integrated lifestyle real estate group, plans to allocate 3.43 billion baht to develop an integrated wellness project comprising luxury hotels and residences, scheduled to open in 2026. On Monday, AWC by the Riverfront Co -- a wholly-owned subsidiary of AWC -- signed a land and property lease contract with Wang Lee Co to rent the land and property located on Chiang Mai Road in Bangkok's Klong …


Chan Koon Song started a small bookbinding workshop in 1942. Today, his granddaughter Winnie Chan is continuing his legacy with her retail brand Bynd Artisan, which has introduced bookbinding and paper crafts to a new generation of customers.


Australia will introduce legislation to make social media giants provide details of users who post defamatory comments, Prime Minister Scott Morrison said on Sunday (Nov 28). The government has been looking at the extent of the responsibility of platforms, such as Twitter and Facebook, for defamatory material published on their sites and comes after the country's highest court ruled that publishers can be held liable for public comments on online…


But Mr Lee is confident the country will be able to live with the virus, cites progress made in dealing with Covid over the past two years. Singapore is watching the new coronavirus variant Omicron closely and may be forced to roll back the easing up of safety measures as it moves forward to tackle the disease, said Prime Minister Lee Hsien Loong on Sunday (Nov 28).....


Berjaya Land Bhd will help Sabah state government's strategic investment arm Qhazanah Sabah Bhd to develop Bandar Digital Tun Said township, which is located about 5km from Kota Belud town. The two companies inked a Memorandum of Understanding (MoU) for the project on Friday (November 26). Under the MoU, Qhazanah Sabah will facilitate and participate in the investment via the land acquisition administrative matters while BLand will play a role as…


Leading building solutions provider Holcim Philippines took another significant step in helping the country’s sustainable development with the launch of Holcim ECOPlanet, its most environment-friendly product with more than 30 percent lower carbon footprint than other general purpose cement. Holcim will offer ECOPlanet as a general purpose blended cement ideal for structural applications that delivers equal to superior construction performa…


The strategy to grow non-travel related businesses is paying off, with promising quarterly revenue Just when you think you are over the worst of one crisis, fresh challenges jump up to confront you.   Mr Kerry Mok, the incoming president and chief executive officer of airline ground handler and food service provider Sats, has never been one to allow a sense of victim-hood affect him, through the years he matured from an infantry platoon …


ACLEDA Bank shareholders have approved the transfer of a 3.5 percent stake in the lender from Triodos to North Haven Thai Private Equity Rumdul Company (Hong Kong) Limited. More than 68 percent of shareholders at Wednesday’s Extraordinary General Meeting (EGM) voted in favour of Triodos’ sale and North Haven’s purchase of the equivalent of 15,160,706 shares.....


Cambodia licensed new foreign direct investments totalling $39 billion in the first semester this year, a year-on-year increase of 9.6 percent, the National Bank of Cambodia’ s statistics showed today. China was the largest source of registered foreign investment with $17.3 billion or 44.2 percent of the total registered investment capital. South Korea ranked second with registered investment capital of $4.1, followed by Vietnam and Singapo…


A welcome boon to the gig-economy in the PHL: an enhanced customer experience and expanding partnerships with firms like GCASH are enticing more freelancers into the digital cross-border platform Payoneer In today’s jobs marketplace, web and graphic design, multimedia production, and content writing are just a few of the leading global freelancing jobs that’s driving the gig economy, with roughly 1.5 million of these freelan…


Hong Duc Industry JSC, part of DEEP C Industrial Zones, Bamboo Capital Group and Sojitz Corporation on November 25 signed a Memorandum of Understanding (MoU) to develop an industrial park project and ancillary infrastructure services with expected total investment capital of approximately 250 million USD.The signing was under the framework of the Investment Promotion Conference held in Japan, under the witness of Prime Minister Pham Minh Chinh...…


With exports forecast to double in value from 2020 to 2030, Indonesia will enjoy one of the fastest growth rates among emerging markets, according to analysts at Standard Chartered. The study from the London-based bank forecasts that an annual growth rate of 8 percent will lift Indonesian exports to US$348 billion in 2030.This article was published in thejakartapost.com with the title "Indonesia’s exports forecast to double over d…


Following Cambodia’s announcement of quarantine-free entry for vaccinated foreign travellers, AirAsia recently announced the resumption of its international flight service from Bangkok (Don Mueang) to Phnom Penh, Cambodia, starting Dec 22 with three flights weekly on Wednesday, Friday and Sunday.....


The Industrial Estate Authority of Thailand (IEAT) plans to conduct a joint study on a gas and renewable fuel-fired power generation facility in Songkhla to relieve concerns over insufficient electricity among factories in the South. The study, scheduled to be completed in 2023, is to focus on power supply for the Southern Region Industrial Estate in Songkhla, according to a memorandum of understanding jointly signed by the IEAT, Global Power Syn…


Night entertainment venues will not be allowed to open before Jan 16 as the government has extended the emergency decree for another two months, the Centre for Covid-19 Situation Administration (CCSA) confirmed on Friday. However some exceptions could be made later under extenuating circumstances as the situation with the epidemic and control measures is so fluid, it added....  


Vietjet and SR Technics, a world leading maintenance, repair and overhaul (MRO) service provider, on November 26 inked a Memorandum of Understanding (MoU) worth 150 million USD involving the provision of MRO services on Vietjet’s CFM56-5B engine fleet, installed on their Airbus A320 and A321 aircraft.The signing ceremonies in Bern, Switzerland, were witnessed by Vietnamese President Nguyen Xuan Phuc, President of the Swiss Confederatio…


Universal Robina Corp. (URC), the Gokongwei-led snack foods giant, has gobbled up a biscuit company in Malaysia for roughly P22.9 billion. URC Snack Foods (Malaysia) Sdn Bh, URC’s wholly owned subsidiary, munched on Munchy Food Industries Sdn. Bhd., Malaysia’s top biscuit brand which was established in 1991....


Sultan Abdul Aziz Shah Airport or Subang Airport will be housing the country's first integrated one-stop maintenance centre for business jets following a collaboration between Malaysia Airports Holdings Bhd (MAHB) and ExecuJet MRO Services Malaysia Sdn Bhd (ExecuJet), a subsidiary of Dassault Aviation. The strategic collaboration will see Dassault Aviation, which has over 2,000 business aircraft under its maintenance globally, investing up to RM1…