South East Asia

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The US group Archer Daniels Midland (ADM) inaugurated an animal feed plant in the northern province of Ha Nam on November 19.The plant, built on 4.6 ha at Hoa Mac industrial park, Duy Tien district, mainly produces feed for pigs, poultry and rabbits.Pierre Duprat, president of ADM's Animal Nutrition business, said the building of the plant is part of the group’s strategy of expanding to key breeding areas in the north of…


The age of second-hand aircraft imported into Vietnam is among new regulations in the Government’s Decree The age of second-hand aircraft imported into Vietnam is among new regulations in the Government’s Decree 89/2019/ND-CP which amends and supplements some articles in Decree 92/2016/ND-CP regarding conditions in the civil aviation.For passenger transportation, the age of a used aircraft must not exceed 10 y…


National flag carrier Vietnam Airlines has won the 2019 ICT Award from the Asian-Oceania Computing Industry Organisation (ASOCIO) for its outstanding achievements and important contributions to the development and application of information technology in operation and services The carrier was the only Vietnamese enterprise to be honoured at the ASOCIO ICT Awards, which were presented at the ASOCIO-PIKOM Digital Summit in Kuala Lumpur, Malaysia la…


The 2019 Vietnam Furniture and Home Furnishing Fair will be held in HCM City from November 28 to December 1 to promote locally made wooden furniture, home decor and handicrafts.... Read more at http://vietnamnews.vn/economy/548670/annual-furniture-fair-targets-domestic-market.html#c6ymAvoEfAQpdWds.99


With strong commitments and impactful activities, Nestlé for Healthier Kids aims to improve the nutritional status and physical stature of Vietnamese children To kick off Nestlé for Healthier Kids in the 2019-2020 school year, a special programme for primary students to improve nutrition knowledge and strengthen physical activity was held on November 16 at Tong Phan Primary School, Hung Yen province, attracting more than 300 student…


The limit for foreign investors’ ownership in Vietnamese air transport businesses will be increased to 34 percent from the current level of 30 percent, according to the Prime Minister’s decree signed last week The limit for foreign investors’ ownership in Vietnamese air transport businesses will be increased to 34 percent from the current level of 30 percent, according to the Prime Minister’s decree sig…


While on her way to a meeting at the Laguna Technopark, Trixie Whyte was approached by a lady in the parking lot who expressed her gratitude because she was given a chance to work again when a giant pharmaceutical company hired her for a supervisory position. She told Whyte that her family would be in dire straits if her company, Q2 HR Solutions, did not give her that job opportunity.   The lady is just one of the thousands of individuals wh…


VISTA LAND & Lifescapes, Inc. (VLL) is partnering with Japanese real estate developer Mitsubishi Estate Co., Ltd. to develop a mixed-use condominium in Taft Avenue, Manila. The Villar-led homebuilder said in a statement yesterday it signed an agreement with Mitsubishi Estate to form a 60-40 joint venture for the project. The deal involves VLL’s vertical development arm Vista Residences, Inc. and Mitsubishi Estate’s subsidiary Mits…


Regent Foods Corp. is mulling moving its plant away from Pasig City, amid labor row with its employees backed by its Mayor Vico Sotto. Sotto on Sunday urged the snack corporation to rethink pushing the case against striking workers if they want to “have a healthy relationship” with Pasig City. "Moving forward, RFC may simply accept its fate that the Pasig City Administration will unjustly make life hard for it and its 400-st…


THE Radisson Hotel Group (RHG) is pursuing partnerships with other hotel property owners in a bid to expand its footprint in the Philippines. In a press briefing Tuesday, Andre de Jong, vice president for Operations, Southeast Asia and Pacific for the RHG, said, “We’re open to conversations with the right partners for the right opportunities.”....


A LENDER is looking to join the virtual banking race in the Philippines, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier. “There’s one right now na (that is) currently engaging the BSP but I cannot disclose the name,” Ms. Fonacier told BusinessWorld in an interview on the sidelines of the Asian Bankers Association Conference on Friday when asked about the development. She add…


Malacanang said Tuesday that online casinos in the country should be taxed, adding that the Duterte administration will not be stopped from collecting what is due to the government. The Bureau of Internal Revenue has already been going after Internet-based gambling companies, locally known as POGOs for Philippine offshore gambling operators, for alleged tax evasion. But in an opinion given to the Philippine Amusement And Gaming Corp. and the…


AS haze blanketed large tracts of Southeast Asia last month, office workers with Genting Plantations Bhd. in Jakarta were investigating the source of the choking smoke more than a thousand kilometers away. Images collected from drones flying up to 400 meters (about 1,300 feet) above Genting’s oil palms help the company spot fires in remote and inaccessible areas. It’s part of a technology drive catapulting palm oil, the world’s …


THE HEALTH CARE information sector has tempered its targets with the rest of the information technology and business process management (IT-BPM) industry after the overall sector recalibrated its targets due to a growth slowdown in recent years. Despite this, the subsector continues to have a higher growth rate compared to the rest of the industry, which it attributes to demand brought about by the growing aging population abroad. The Healthcare …


The country posted a Balance of Payments (BOP) surplus for the fourth straight month in October as more remittances flowed into the country ahead of the Christmas season, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. The country’s BOP position recorded a $163-million surplus in October, reversing the $458-million deficit recorded in the same month last year. BSP Governor Benjamin Diokno said the latest figures reflected the incr…


Commercial real estate transaction volumes for the Asia Pacific region have hit a new high of US$128 billion year-to-date, according to JLL.  Transaction volumes for the period of July to September climbed 18 per cent year-on-year to US$42 billion, representing the best Q3 performance on record. It also represents a 10 per cent increase in volume versus 2018’s figures.  This was in part driven by robust recovery in Singapore where…


Businesses in Singapore can look forward to more opportunities for collaboration as Mexico looks to Asia for partners in sectors like infrastructure and technology. Elizabeth Neo reports.Read more at https://www.channelnewsasia.com/news/business/opportunities-for-singapore-businesses-as-mexico-looks-to-asia-12108394


TWO co-founders of fintech startup GoBear have resigned and will leave by the end of the year, and the company is to close down its Indonesia operations just about a year after expanding to that market, The Business Times has learned from sources. GoBear chief executive...


The economic corridor from Kuala Lumpur to Johor will likely run parallel to the HSR’s alignment. Whilst the fate of the massive Kuala Lumpur-Singapore High-Speed Rail (HSR) hangs in the balance as the neighbouring governments sort out cost issues, the proposed establishment of an economic corridor stretching from Kuala Lumpur to Johor in Peninsular Malaysia could provide tailwinds to the rail project, according to Fitch Solutions…


It has not disclosed if it will seek a retail or wholesale licence. Bloomberg reported that Ant Financial Services Group, China-based fintech operating Alipay and owned by billionaire Jack Ma, said it may apply for a virtual banking licence in Singapore. "We are actively looking into this opportunity," Ant Financial said in an emailed response to questions from Bloomberg News.....


Singapore's focus on ethics could give it a competitive advantage as it works towards becoming an artificial intelligence hub. What it lacks is workers with the right skills, says Minister-in-charge of the Smart Nation initiative, Dr Vivian Balakrishnan said. Cheryl Lin reports from the Smart City Expo World Congress in Barcelona.Read more at https://www.channelnewsasia.com/news/business/singapore-s-focus-on-ethics-in-ai-a-competitive-advantage-v…


A ban on e-cigarettes has been ordered by Philippine President Rodrigo Duterte, who is threatening to arrest anyone vaping publicly in a country that already has some of Asia's toughest anti-smoking rules. Mr Duterte is notorious internationally for his deadly anti-narcotics crackdown, but he has also imposed a wide-ranging ban on smoking in public that is part of his pledge to get tough on public disorder. The president told a late-night press c…


The manager of Mapletree North Asia Commercial Trust (MNACT) said on Tuesday night (Nov 19) that its Festival Walk shopping mall in Hong Kong remains closed until further notice. Due to extensive damage suffered last week in the city's unrest, recovery works at the property, including the cleaning up of debris, and the assessment of repair works required are ongoing. Insurers have been notified, and the assessment of claims is underway, the …


Over 1,800 German firms in Singapore from the industrial sector are looking to expand into the ASEAN. The business ties between Germany and Singapore provide a growth environment for any enterprise of scale. Even with over 1,800 German companies set up in Singapore, opportunities arise for the small and medium-sized enterprises (SMEs) — known as the ‘Mittelstand’ — to enter the ASEAN region. Prospects for Singapore SMEs ar…


2019-11-20

Presented by SGInnovate   With more organisations considering how AI can positively impact their business, we are seeing the spotlight being shone on one of the hottest jobs this century: The Data Scientist. The job of being a Data Scientist has been named: No. 1 on Glassdoor’s 50 Best Jobs In America for four consecutive years (2014 – 2018 No. 1 on LinkedIn’s Most Promising Jobs of 2019 However, complex data science algo…


A high-tech fish farm, capable of producing up to 20 times the "minimum production level" of coastal farms, was officially opened by Senior of Minister of State for Trade and Industry Koh Poh Koon on Tuesday (Nov 19). The S$4 million farm called Eco-Ark is contained within a platform measuring 48m by 28m anchored about 5km off Changi Point ferry terminal. It uses a closed containment aquaculture system developed by the Aquaculture Centre of …


Analysts' picks include AEM, Penguin, mm2 and Fu Yu, which offers both growth and firm dividends DIVIDEND plays are currently the flavour of the month as market volatility and increasingly weak business conditions weigh on Singapore growth stocks. Given the challenges from the US-China trade war and slowing economies in many regions, Jarick Seet, head of Singapore...


A senior banker born in Hong Kong plans to try getting a United States green card, just in case the city's social unrest worsens. Two other executives in town are working with a recruiter in Shanghai to move there, betting its future may be brighter. And at the local outpost of one of Europe's top investment banks, a dealmaker says lifelong Hong Kong residents in his group are weighing their options, looking at a variety of countries. Expats and …


The two partners are working to ensure Thai consumers stay safe when shopping online The Electronic Transactions Development Agency (ETDA), the Ministry of Digital for Economy and Society (DES) and the Thai Industrial Standards Institute (TISI) recently held a signing ceremony wherein they signed a memorandum of cooperation (MoC) on ‘Promotion services and implementation of digital government’. It was noted that over th…


The tech aims to increase the efficiency of trades by reducing processing cost and time The Joint Standing Committee of Commerce, Industry and Banking (JSCCIB) of Thailand announced recently that it has completed a trial of a trade platform leveraging blockchain technology and developed by a Japanese system integration company. The test was run as part of JSCCIB’s private sector initiative to develop a National Digital Trade Platf…


The Finance Ministry signed an MoU with a local bank to develop and apply the technology in three pilot projects The Finance Ministry plans to adopt blockchain-based value-added tax (VAT) refund service for foreign tourists, starting from the end of this month. The blockchain technology for VAT refunds should speed up the process for tourists as details of their purchases will be immediately shared with the Revenue Department and the Cu…


With Tech4ED, no one is left behind as the program extends its reach to include all sectors and demographics of the population The Department of Information and Communications Technology (DICT) recognised two public high schools and a public library as top-performing Technology Empowerment for Education, Employment, Entrepreneurs and Economic Development (Tech4ED) centres, for their relentless commitment in narrowing the digital divide in the cou…


The agreement will allow the Philippines to access the NovaSAR-1 satellite for the lifespan of the spacecraft The Advanced Science and Technology Institute (ASTI) of the Department of Science and Technology (DOST) has signed an agreement with Surrey Satellite Technology Ltd. (SSTL) for the Philippines’ share of the data tasking and acquisition services of NovaSAR-1. The NovaSAR-1 is an innovative small S-Band radar satellite launched into a…


The right academic qualification and sufficient digital knowledge will meet workforce demands and support Malaysia's ambitions to be a regional digital hub Demanding companies and firms always have an eye for excellent graduates who possess great grades and a keen sense of digital technologies. As the Fourth Industrial Revolution (IR4.0) is making a way in Malaysia and draws its own path in the human resource industry, students and graduates are …


As the digital economy ramps up and national digital transformation efforts continue, niche skill talent could be up to 30% as demand outstrips supply Malaysians with niche skills in technology will have far brighter prospects next year as many sectors are hiring in their push forward with digitalisation. A Malaysia-based consultancy released its salary survey for 2020 today and said job opportunities and higher pay can be expected for …


SET-listed Gulf Energy Development Plc is keen to be a shipper of liquefied natural gas (LNG) for Thailand and Vietnam after the company signed contracts to develop megaprojects in both countries. Chief executive Sarath Ratanavadi said Gulf formed Gulf MTP LNG Terminal Co with PTT Tank Terminal, with registered capital of 3.5 billion baht, to develop the third phase of Map Ta Phut seaport, worth 55.4 billion baht, on 1,000 rai. The Industrial Est…


Hollywood and Bollywood are well-known movie engines. A Thai film enthusiast wants to make Tollywood a household name. Tollywood (Thailand and Hollywood) is the brainchild of Vicha Poonvaraluk, the founder and chairman of Major Cineplex, who wants to support Thai film producers in making movies for the international audience. Mr Vicha, 57, is partnering with local and foreign companies to produce quality films for export.....


Real Bean Coffee, Trung Nguyen Legend and Lamant Coffee won the gold, silver and bronze prizes at the first Vietpresso Contest held in Ho Chi Minh City last week Real Bean Coffee, Trung Nguyen Legend and Lamant Coffee won the gold, silver and bronze prizes at the first Vietpresso Contest held in Ho Chi Minh City last week.Organised by Central Retail Vietnam together with 15 prestigious coffee brands and shops on the sidelines …


PLDT, Inc. is hopeful Voyager Innovations, Inc. will turn a profit by 2024, as its digital payments firm Paymaya Philippines, Inc. continues to grow its business. “If I recall correctly, it should break even, cash-wise by 2023, so maybe 2024, we would see the light of day, hopefully. That’s our projection,” PLDT Chairman, President and Chief Executive Officer Manuel V. Pangilinan told reporters on Nov. 14. In 2018, PLDT incurred…


The Philippine Competition Commission (PCC) is reviewing an offer for voluntary commitments submitted by parties to address competition concerns in relation to the acquisition by San Miguel Corp. (SMC) of Holcim Philippines Inc. (HPI). PCC commissioner Johannes Bernabe told reporters yesterday an offer for voluntary commitments to address concerns on the deal was submitted last month. “I think the parties submitted an offer (for) VCs, volun…


THE Philippine Competition Commission (PCC) has ordered Grab to refund its users amounting to P5.05 million for violating its commitments to regulate prices and improve service quality as a virtual monopoly in the ride-hailing market. PCC Chairman Arsenio M. Balisacan on Monday announced the agency imposed a penalty of P23.45 million on Grab for breaching its price commitments. The fine is an accumulation of all of the firm’s violations dur…


THE INTERNATIONAL MONETARY FUND (IMF) maintained its Philippine gross domestic product (GDP) growth projection for this year but slightly raised its 2020 forecast despite increased risks, as state spending improves further, according to a statement the multilateral lender released on Monday at the end of its annual health check on the country. “After a soft patch in the first half of this year, the Philippines’ GDP growth is expected …


Malacañang on Monday said there is no order from President Rodrigo Duterte to suspend the importation of rice. The Palace issued the statement after GMA News reported that Duterte wanted to halt the purchase of the staple grain from abroad and that the government should start buying rice from Filipino farmers to help them amid falling prices of palay (paddy rice).   “As of this time there is no order to stop rice importation giv…


THERE are bubbling risks on the horizon for the three Singapore banks, which just capped their results session for the third quarter that was driven mainly by stronger non-interest income from the wealth management business as well as fees. Analysts flag that...


British life and general insurer Aviva Plc will keep its operations in Singapore and China, it said on Monday (Nov 18), two days ahead of an expected strategy update and following speculation of a sale of the Singapore business. Aviva began a review of its Asia business earlier this year under new CEO Maurice Tulloch.   "Following a thorough review of options for the Singapore business, including seeking offers ... Aviva has concluded that t…


ASCENDAS India Trust (a-iTrust) is launching a private placement of at least 66.3 million units at an issue price of between S$1.465 and S$1.508 to raise gross proceeds of at least S$100 million. This is to fund its potential investment in a business park in Bangalore, its trustee-manager said in a regulatory filing. The issue price represents a discount of between 2.9 and 5.7 per cent to the volume-weighted average price of S$1.5538 per unit for…


The ongoing protests in Hong Kong have reached a “breaking point” and Singapore is watching the developments “with concern”, said Trade and Industry Minister Chan Chun Sing on Monday (Nov 18). “Unless calm is restored, dialogue commences and constructive actions taken, there will be grave doubts about Hong Kong's future and the sustainability of its current governance model,” said Mr Chan in his comments to rep…


Electronics could see further stabilisation into year end and manufacturing might emerge from recession in 2020 Singapore may have seen a larger-than-expected drop in its latest non-oil domestic export (Nodx) figures, suggesting that the economy is not picking up strongly, but things may not be as bad as they seem. There are several mitigating factors that can allay concerns over the Republic's external environment, said UOB economist Barnabas Ga…