South East Asia

Date

Singapore-based Hydroleap has teamed up with homegrown Biocare Health Resources Inc. (BHRI) to distribute advanced electrochemical solutions for treating wastewater in the Philippines. Hydroleap, a next-generation water technology firm, will power Cyclean, a flagship product of BHRI’s new environmental division ENVISOL (Biocare Environmental Solutions).....


US-based tech giant Apple will increase spending on suppliers in Vietnam – a  key production hub, as CEO Tim Cook is paying a two-day visit to the country, starting on April 15.The group announced the information in a statement on its website but gave no details of how much it will spend as well as where the money will go.....


2024-04-15

United States-based business process outsourcing (BPO) firm Afni formally launched its new Philippine site in the city of Santa Rosa, Laguna province on Saturday, expanding its presence outside Metro Manila. The new Afni office, located right next to SM City Santa Rosa, commenced hiring last December 2023 and hopes to fill at least 3,000 positions by end of 2024. Khalid Khursheed, senior vice president and country manager of Afni Philippines, sai…


South-east Asia’s used-car marketplace Carro is raising about US$100 million (S$136 million) as it gears up for a stock-market debut, betting that new funds will cement it as the region’s top player. The company is speaking with investors for a pre-IPO (initial public offering) funding round which could raise its valuation to more than US$1.5 billion, chief executive officer Aaron Tan said in an interview.....


THE electric vehicle (EV) industry has a lot of ground momentum driving its growth and adoption globally, but there are still key chokepoints that could impede any widespread adoption locally – at least for the moment. No doubt, the EV sector is still touted as the biggest shift in the automotive industry that is still in progress since the development of the petrol internal combustion engine (ICE) which took off in the 20th Century.....


Local reports in Thailand say a new Schengen-style visa system in Southeast Asia could boost tourism - and the wider economy. Thailand is looking to boost tourism across Southeast Asia with a new visa scheme. The Asian nation is advocating for a Schengen-style visa along with five neighbouring countries.....


It is necessary for Viêt Nam to develop a legal framework for cryptocurrency to prevent risks and illegal appropriation. Cao Đăng Vinh, deputy director of the Department of Economic and Civil Legislation, said on Friday that there are still different understandings about virtual assets, digital currencies and cryptocurrencies. Countries also have different management approaches.....


The country’s largest franchising association is looking to grow franchise stores and revenues by eight to 10 percent this year as more foreign brands are interested to enter the country, while local brands continue to expand. Philippine Franchise Association (PFA) chairman Sam Christopher Lim said during the 31st Franchise Asia Philippines Expo the group is looking at an eight to 10 percent growth in franchise stores this year.....


Vital for Singapore to engage Europe in new era of great power politics SINGAPORE’S plans to upgrade relations with France and Germany will open up new areas of cooperation, such as in artificial intelligence (AI), sustainability and defence, said Deputy Prime Minister Lawrence Wong on Friday (Apr 12). Wong was speaking to reporters at the Singapore embassy in Paris, as he wrapped up a six-day trip to Germany and France – hi…


2024-04-13

The United States will set up an economic corridor on the main island of Luzon — the first of its kind in the Indo-Pacific region — to enable coordinated investments in high-impact projects, with assistance from Japan. The corridor under the US’s Partnership for Global Infrastructure and Investment (PGI), an initiative under the Indo-Pacific Economic Framework, will connect the capital Manila, the southern Luzon province of Bata…


After a month-long trial, Truong My Lan was sentenced to death by a court in Ho Chi Minh City on Thursday (Apr 11) for masterminding the largest fraud case in Vietnam’s history. She is also the first businesswoman in the country to face capital punishment. The 67-year-old chairwoman of the real estate empire Van Thinh Phat (VTP) was found guilty of bribery, violations of banking regulations, and embezzlement of 304 trillion dong (S$16.7 bil…


Singapore’s economy in the first three months of 2024 grew at its weakest quarter-on-quarter pace in a year as manufacturing slowed, but economists see growth strengthening ahead. On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 0.1 per cent in the first quarter, down from the 1.2 per cent growth in the fourth quarter of 2023,....


Indonesian conglomerate Agung Sedayu Group’s multibillion-dollar project, inspired by Singapore’s Sentosa Island and set to revitalise Jakarta’s north coast in three years, will feature a 27-hole golf course, a Formula 1 racetrack and a sports complex. The grand project called Tropical Coastland – one of Indonesia’s recently unveiled 14 national projects to galvanise activity across key sectors – is hoping to w…


A TOP Vietnamese property tycoon was sentenced to death on Thursday (Apr 11) in one of the biggest corruption cases in history. It involved an estimated US$27 billion. A panel of three hand-picked jurors and two judges rejected all defence arguments by Truong My Lan, chair of major developer Van Thinh Phat, who was found guilty of swindling cash from Saigon Commercial Bank (SCB) over a decade.....


Singapore can serve as a key node for France to connect to Asia, said Deputy Prime Minister Lawrence Wong at launch in Paris Singapore state investor Temasek Holdings officially opened its new office in Paris on Wednesday (Apr 10), with plans to invest S$20 billion to S$25 billion in the Europe, Middle East and Africa (EMEA) region over the next five years....


2024-04-11

Work on the fifth Lao-Thai Friendship Bridge, which connects the two countries across the Mekong River between Borikhamxay province in Laos and Bueng Kan province in Thailand, is progressing on schedule and the bridge could be open to traffic at the end of this year. The new 1,350-metre bridge will boost travel between Laos and Thailand and spur trade with other countries in the Greater Mekong Subregion.... More https://bit.ly/…


2024-04-11

As high as 67 percent of Cambodians today have access to formal financial services, said Dr Chea Serey, Governor of National Bank of Cambodia (NBC), at the Association of Banks in Cambodia (ABC)’s event, ‘30 Years of Growth, 30 Years of Friendship’ in Phnom Penh on Wednesday. Serey referred to the results of a Mobile Tracker Survey conducted by UNCDF, where it was seen that the percentage of formal financial service users in Cam…


With corporate results having turned the corner for the most part and better pricing reflecting this, good things are expected for the equity market going forward. This is the outcome of the US economy being robust and China's macroeconomic fundamentals progressively getting better, according to a note from RHB Research.....


2024-04-11

Air India strengthens its Southeast Asia network by launching flights from Delhi to Ho Chi Minh City, offering convenient one-stop connections for travelers from various countries and providing new travel options for Indian and Vietnamese passengers. Vietnam is fast catching up as a favorite among Indians and the latest airline to launch flights is Air India. The airline on Wednesday announced the launch of flights from Delhi to City on June 01..…


2024-04-11

The biggest and the longest running Franchise Show in Asia! 12-14 April 2024 SMX Convention Center Manila - Franchise Asia Philippines averages 50,000+ visitors every year  - Meet with potential franchisees from all over the Philippines and overseas - The Philippine economy is booming once again and is expected to be one of the fastest-growing in the world Meet with top franchise brands face-to-face. A one-stop shop homegrown and internation…


2024-04-11

Foreign direct investments (FDI) net inflow went up by 89.9 percent in February this year. Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that FDI net inflows during the month amounted to USD907 million, up from the USD478 million recorded in January 2023. FDIs include investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent, and investment made by…


Energy Absolute and Bangkok Aviation Fuel Services teaming upA new sustainable aviation fuel company is being set up through a collaboration between Energy Absolute Plc (EA) and Bangkok Aviation Fuel Services (BAFS), in a bid to serve demand for cleaner fuel to reduce carbon dioxide emissions. EA, a renewable energy and electric vehicle developer and operator, announced it was building a sustainable aviation fuel (SAF) production facil…


ABA Bank, Cambodia's premier commercial bank, has disclosed its audited annual report for the year 2023. The financial statements presented reveal that the bank has maintained its impressive trajectory of growth, reinforcing its role as a principal lender in the economy and a pivotal force in the Kingdom's economic advancement......


The Ministry of Science and Technology (MoST) has just issued Circular 02/2024/TT-BKHCN regulating the management of traceability of products and goods. The circular takes effect on June 1 and consists of five chapters with 14 articles. Of which, it requires organisations and individuals producing, trading and providing services to trace the origin of goods when creating data to ensure at least the name of product and goods; images of products an…


The El Nino phenomenon is seen pulling down the country’s coconut oil exports by a fifth in market year 2024-2025 to 900,000 metric tons (MT), according to an international agency. The United States Department of Agriculture-Foreign Agricultural Service in Manila (USDA-FAS Manila) said drier weather conditions would affect coconut flower growth, resulting in reduced coconut output.....


MALAYSIAN tycoon Vincent Tan is considering taking Kuala Lumpur-listed Berjaya Food private, according to people with knowledge of the matter. Tan is in talks with banks about financing for a potential buyout deal for Berjaya Food, which owns 100 per cent of Starbucks’ Malaysian operations, said the people, asking not to be named as the matter is private.....


2024-04-10

The Monetary Authority of Singapore (MAS) and Mastercard today signed a Memorandum of Understanding (MoU) to enhance cooperation in cybersecurity, with the aim to strengthen cyber resilience in the financial services sector in Singapore. 2  The strategic partnership aims to further cement the collaboration between MAS and Mastercard in:  bilateral information sharing of cyber threat intelligence to raise cyber situational awarenes…


2024-04-10

The Maritime and Port Authority of Singapore (MPA) has launched the first pilot trial for electric harbour craft (e-HC) charging point at the Marina South Pier (MSP) today following an earlier call for proposals (CFP)[1] to develop and operate e-HC charging points at various locations under a two-year pilot scheme.  The charging point at MSP was awarded to the Pyxis Energy Pte Ltd, Pyxis Maritime Pte Ltd, and SP Mobility Pte Ltd partnership.…


Indonesia’s economy is expected to continue to grow by over 5 percent in 2024 and 2025, according to a report by ASEAN+3 Macroeconomic Research Office (AMRO). The report shows that Indonesia was estimated to witness a real gross domestic product (GDP) growth of 5 percent in 2023. Indonesia’s real GDP growth is forecast to reach 5.2 percent in 2024. It will also expand by 5.2 percent the following year....


Heavy machinery sales are expected to rise by 5% this year, driven by the growth of the construction sector, according to the latest estimate by Chinese manufacturer LiuGong Machinery. Last year 4,321 machines were sold domestically.... https://www.bangkokpost.com/business/general/2773344/construction-boom-to-drive-machinery-sales. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip


2024-04-09

The Seventh National Day for the promotion of Khmer products will be celebrated today (April 9), under the theme ‘Sustainable Production and Supply to the Market – One Village, One Product Movement.’ Since officially launched in 2006, the ‘One Village, One Product (OVOP)’ movement in Cambodia has been gaining importance as a tool for the country’s socio-economic development, especially due to the strong politic…


The Suntory PepsiCo Vietnam Beverage Company kicked off the construction of its biggest factory in the Asia-Pacific region on April 8 at the Huu Thanh Industrial Park in Duc Hoa district, the southern province of Long An.Covering nearly 20ha, the project has an estimated investment of more than 300 million USD. Once completed, it is expected to have an annual output of 800 million litres, helping enhance the company’s ability…


2024-04-09

THE PHILIPPINES is expected to grow faster than Association of Southeast Asian Nations (ASEAN) member countries, China, Japan, South Korea and Hong Kong this year and in 2025, but elevated inflation remains a key risk to the outlook, a regional think tank said on Monday. In its Regional Economic Outlook quarterly update, the ASEAN+3 Macroeconomic Research Office (AMRO) kept its 6.3% gross domestic product (GDP) growth outlook for the Ph…


A footwear company in Malaysia has landed in hot soup after its logo – which purportedly resembles the Arabic script for “Allah” – was seen on its shoe soles, prompting the firm to issue an apology even as police investigations are underway. This latest incident comes amid an ongoing issue in the country regarding the sale of socks bearing the word “Allah” by convenience store chain KK Super Mart.....


With the market for initial public offerings (IPOs) showing signs of making a comeback in 2024, competition to capture new listings among major stock exchanges in Singapore, the United States, Hong Kong and London is expected to intensify in the months ahead, experts said. “There will be a lot more competition for IPOs, and the Singapore Exchange (SGX) will have to work hard and think of innovative ways to attract good IPOs,” said OCB…


In preparation for the upcoming Eid al-Fitr holiday season, Transportation Minister Budi Karya Sumadi announced on Sunday that Panjang Port in Lampung has been designated to receive ferry passengers arriving from Merak Port in Banten. This decision aims to alleviate sea traffic congestion and offer an alternative arrival point for ferry travelers crossing between Java and Sumatra islands, especially considering the expected surge in passenger num…


2024-04-08

          Malaysia Airlines is thrilled to introduce its newest initiative in the realm of travel experiences, featuring a one-year strategic cruise partnership with industry expert, Apple Vacations, complemented by collaborative efforts with esteemed global cruise lines such as Peace Boat, Princess Cruises, Resorts World, and Uniworld River Cruises. As part of its continuous effort to make Malay…


2024-04-08

Prime Minister Srettha Thavisin has announced Thailand's ambitious goal to become a regional tourism hub, with plans to impress tourists from their arrival and throughout their stay. The government plans to host several global events to enhance tourists' experiences in the coming months, focusing on safety and encouraging repeat visits. Detailing the vision to make Thailand an Aviation Hub capable of hosting up to 150 million travelers by 2030, T…


2024-04-08

The Royal Government of Cambodia is committed to promoting small and medium enterprises (SMEs) which are the backbone of the national economy, providing 70 percent of jobs and contributing 58 percent to the GDP. While reiterating this commitment, recently, Hem Vanndy, Minister of Industry, Science, Technology and Innovation also praised the role of Khmer Enterprise in supporting startups and SMEs in various stages of their growth. The minister wa…


Trends in AI, big data, smart urban construction, e-commerce, and also the ambition to turn Ho Chi Minh City into the region’s leading financial centre are all creating opportunities for investment in data centre development. Keppel Corporation, a giant multi-industry investor from Singapore which has a dozen projects in Vietnam, has expressed its intention to participate in the data centre market in Vietnam, in addition to real estate an…


2024-04-08

The Department of Trade and Industry (DTI) on Saturday disclosed that Fastboxph would dispatch another batch of Philippine mangoes to Australia this month. The move further highlights the trade relations between the two nations, according to Trade Secretary Frederico Pascual. In a press release, Pascual noted that trade levels between the two nations have soared beyond pre-pandemic figures. In 2023 alone, their trade volume surged to USD4.1 billi…


Singapore and longstanding rival Hong Kong are fighting tooth and nail to attract family offices, but while they share the same goal, their game plans are quite different. Hong Kong continues to roll out the red carpet for the world’s richest families whereas Singapore, which has grown in appeal due to tensions between the US and China, has become more discerning about the quality of funds it seeks.....


The newly constructed Dhoho Airport in the East Java town of Kediri celebrated its inauguration on Friday with the commencement of its first commercial flight, operated by budget airline Citilink. Citilink's flight QG 752, carrying 178 passengers from Jakarta, received a ceremonial water salute upon landing and taxiing onto the tarmac. The event was attended by local officials and prominent business executives....


Malaysia has been listed in the top 20 as one of the fastest growing economies in Asia.   A detailed analysis by Insider Monkey said Asia’s regional economic growth has improved, projected at 4.5 per cent as opposed to prior expectations of 4.2 per cent......


Getting from backpacker favourite Phnom Penh to the iconic ruins of Angkor Wat could be about to get easier, with Air Asia Cambodia gearing up for its first flights in May. The airline, a joint venture between Malaysia-headquartered Air Asia, south-east Asia’s biggest budget carrier, and Cambodian business Sivilai Asia, will connect capital Phnom Penh with Siem Reap and Sihanoukville.....


The US website finance.yahoo.com placed Vietnam 6th among the fastest growing economies in Asia in 2024 in its article published on April 4. The article cited projections for Vietnam's real GDP growth to reach 5.8% and per capita GDP growth at 7.41%......


2024-04-07

For most students, all that is needed for a school day is a bag of snacks, lunch, books and other basic school materials. But in Lawak Langka Elementary School (LLES) in Mangatarem, Pangasinan, the checklist used to look quite different with the addition of five liters of water that each student needed to carry to school each day.  The five liters is used only for handwashing and toilet flushing. Despite this heavy burden, the amount still f…


I-Berhad will scale up Wyndham-managed suites in Kuala Lumpur City Centre following a three-fold surge in bookings for Wyndham Suites KLCC. Earlier this year, the property developer entered into a partnership with Wyndham International to manage more rooms within Zone 1 KLCC.......