South East Asia

Date

Home-grown company Mr Bean has ventured out of Singapore with an equal number of hits and misses under its belt. Founder and chief executive Loh Jwee Poh is hoping that his latest foray into Vietnam will boost the number of successful ventures he has embarked on. The score stands at three hits and three misses, including Singapore............


The Philippines and United Kingdom (UK) have agreed to work together in priority sectors involving trade and investment promotion, ease of doing business, micro, small and medium enterprise (MSME) development to promote stronger economic ties. In a statement, the Department of Trade and Industry (DTI) said the Philippines and UK signed the Partnership Statement and Joint Action Plan on Economic Cooperation, Trade and Investment during the First P…


PILIPINAS Shell Petroleum Corp. is ramping up spending to P6 billion in 2019, even as earnings fell due to the higher inflation and the weaker peso last year. The listed firm said in a statement Friday that it plans to hike its capital expenditure by 46% this year, from the P4.1 billion spent in 2018. “Pilipinas Shell plans to increase its investment to around P6.0 billion to support expansion plans of the retail business and optimization p…


The Bangko Sentral ng Pilipinas (BSP) is set to regulate automated teller machines (ATMs) that allow purchase or exchange of virtual currencies such as bitcoins. BSP Deputy Governor Chuchi Fonacier issued a memorandum requiring banks and other financial institutions to register with the regulator as virtual currency exchanges (VCEs) and comply with the anti-money laundering or terrorist financing laws. “As registered virtual currency exchan…


South Korean conglomerate SK Group plans to purchase US$1 billion worth of stocks in Việt Nam’s real estate-retail-tech giant Vingroup, according to Bloomberg. The investment could be made as early as April, Bloomberg said on Friday, citing South Korea’s Maeil Business Paper. Vingroup has recently asked shareholders to approve its private issuance of 250 million shares to a maximum of five foreign institutional investors to rai…


More than 1,600 pavilions will be set up at the Vietbuild international exhibition, the largest exhibition of the construction sector in Vietnam, which will take place in Hanoi from March 27-31.The event is expected to draw nearly 200 domestic businesses, 45 joint ventures and over 160 foreign groups and enterprises from 18 countries and territories, heard a press conference in Hanoi on March 22.Representatives from the organising board said the …


Vietnamese consumers are embracing digital payments as a faster and more convenient way to pay, with consumers using their credit and debit cards more often for in-store and online purchases, digital payment methods provider Visa said on Thursday. Growth in consumer use of Visa products in 2018 indicates a number of positive trends in the growth of digital payments, it said.  The 2018 Visa Consumer Payment …


Ho Chi Minh City will create favourable conditions for Thai-based Kasikorn Bank (KB Bank) to open its branch in the city, the first of its kind in Vietnam, helping diversify local credit and banking activities, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.Hosting a reception for First Senior Vice President at KBank Pattanapong Tansonboon on March 22, Tuyen spoke highly of the bank’s strengths in small and…


Việt Nam hopes that South Korean investors will participate more deeply in the equitisation process of Vietnamese enterprises. The statement was made by Hà Huy Tuấn, vice chairman of the National Financial Supervisory Commission, at the 8th International Conference on Finance and Economics, co-organised in Hà Nội on March 21-22 by the Việt Nam Chamber of Commerce and Industry (VCCI), Việt Nam’s Ministry of Finance (M…


1. BR METALS 2. NUFFIELD DENTAL HOLDINGS 3. V-KEY 4. AUREUS GROUP AUREUS 5. GRAIN 6. TRIPLE 7. ONECARE HOLDINGS 8. CATAPULT VENTURES 9. KC GROUP 10. A YONG Full article:http://bit.ly/2UNFe7P straitstimes.com


OCBC is offering its mobile payment service on food ordering app Waitrr. The OCBC Pay Anyone app enables customers to make direct QR code payments to merchants, and peer-to-peer e-payments leveraging QR codes, social media, or a recipient's mobile number and PayNow.......


Sembcorp Industries on Friday (March 22) said it is working with YCH Group on supplying its warehouses across Asia with solar power, as it announced the completion of a rooftop solar farm at YCH's Supply Chain City flagship building. Sembcorp will now look to power other YCH facilities with solar energy in countries such as China, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam, it said in a filing with the Singap…


THERE’S A NEW hotspot in town and everyone who is anyone wants to be there. But they need an invitation to get into Caroline’s  Mansion, and it’s not because it’s the private home of an elegant tai tai. Instead, it’s a much sought-after luxury events space that sits adjacent to The St Regis Singapore, and is named after Caroline Astor, the founding matriarch of the St Regis. The space, converted from the hotel&r…


Indonesia's national carrier Garuda has told Boeing it will cancel a multi-billion-dollar order for 49 Boeing 737 Max 8 jets after the model was involved in two fatal crashes. The move could spark more cancellations from other major carriers, an aviation analyst said, as Boeing and US federal regulators get set to face their first public grilling by Congress since the deadly incidents.   "We have sent a letter to Boeing requesting that the o…


isa announced Finaxar as the winner of the Visa Everywhere Initiative (VEI) 2019 during the Singapore finals. Finaxar is perhaps best known for partnering with Lazada to offer financing for its merchants. It was chosen from a group of ten finalist who pitched their solutions to a panel of judges at Visa University Visa Everywhere Initiative is a global innovation programme that tasks start-ups to solve payments and commerce challenges of tomorrow…


ibaba-backed Akulaku is the top funded fintech startups in Indonesia, and now a shareholder of a local bank as reported by Katadata. Akulaku reportedly made an Rp 500 billion (approximately SG$48 million) stake into PT Bank Yudha Bhakti Tbk (BBYB), in stages. At the time of writing, Bank Yudha Bhakti has pocketed Rp 158.7 billion (approximately SG$15 million) from the deal. After the first stage, Bank Yudha Bhakti will co…


2019-03-23

Blockchain is at the heart of the digital revolution that’s sprouting new life and ideas into business and innovation across Southeast Asia. With use cases in everything from finance to government, blockchain promises to make our future more decentralized, transparent, and efficient. SGInnovate, and its founding CEO Steve Leonard, is a champion of this new tech. Presented by: Steve Leonard, Founding CEO, SG Innovate About innovfest unbound …


Bank Indonesia (BI) has shown its commitment to helping increase Indonesian coffee exports by facilitating small and medium enterprises (SMEs) taking part in a coffee expo in Singapore. The SMEs have been enjoying facilities provided by BI as part of the central bank's commitment to helping develop local economies.Held from March 21- 23, The Cafe Asia Expo was participated in by 154 exhibitors from 25 countries.The participation of the Indon…


Minister of Transport Nguyễn Văn Thể has instructed the State-owned Airports Corporation of Việt Nam to complete the feasibility study for Long Thành Airport and submit it to the ministry by May 30. Speaking at a meeting on Thursday, he said: “In order to fulfill this task, units and relevant agencies should work closely with each other.” He also asked the …


Representatives from foreign-invested (FDI) enterprises in Ho Chi Minh City contributed their ideas and recommendations to spur growth in the city at a meeting with municipal leaders on March 23. Secretary of the city’s Party Committee Nguyen Thien Nhan hailed the development of the FDI sector in the city, which has become one of the growth drivers for the city. He reported that 1.55 billion USD had been poured into HCM City in the fir…


The Singapore FinTech Association (SFA) and FinTech Australia will share resources and allow each other access to investors' communities as part of a bilateral memorandum of understanding (MOU) signed on Thursday (March 21). The agreement aims to contribute to the development of the fintech industry across Asean and in Australia, according to a joint statement by the two industry bodies on Thursday. "They will collaborate from time to time on par…


TELEMEDICINE has its attractions in that the use of telecommunications technology enables doctors to overcome the barrier of distance to diagnose and treat patients, even those in rural areas. But, as the telemedicine scene grows in Singapore, health professionals and industry players are increasingly confronting fundamental questions about the limits and ethical obligations of the new technology. Gastroenterologist Tan Chi Chiu said it may be ri…


Deputy Prime Minister Teo Chee Hean officiated the opening of the revamped Vietnam-Singapore Cooperation Centre in Hanoi on Saturday (Mar 23). He also launched the Singapore Festival during his visit. Tung Ngo reports.Read more at https://www.channelnewsasia.com/news/singapore/dpm-teo-opens-singapore-festival-training-centre-in-hanoi-video-11373040


2019-03-23

In-flight meals that are actually enjoyable are few and far between. In part, that’s because ingredients often need to be shipped hundreds or thousands of miles from farms to airports, meaning sometimes they’re not exactly fresh. Singapore Airlines is aiming to change that with a “farm-to-plane” partnership announced Thursday with AeroFarms, a vertical indoor farming company. At AeroFarms’ Newark, New Jersey headquar…


State-owned airport operator PT Angkasa Pura (AP) II will dedicate Terminal 2F of Soekarno-Hatta International Airport in Tangerang, Banten to low-cost carrier services as international flights have been moving to Terminal 3. “We will formally operate Terminal 2F as an LCCT [low-cost carrier terminal] on May 1,” said AP II president director M. Awaluddin in a statement on Thursday. The move was made in response to …


0 SHARES             The Public Works and Housing Ministry has said the ministry will complete the construction of 15 more dams this year to support the irrigation system in regions across country after the ministry completed the construction of 14 dams in 2018. To develop the 29 dams, the ministry has allocated Rp 40 trillion (US$2.83 billion) from the state budget. “The projects are part of a planned 65 …


Experts talked about the role of Ho Chi Minh City as a bridge connecting to European markets during a ceremony to launch the Whitebook Briefing 2019 on March 20.Co-Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Nicolas Audier said European firms will expand business in Vietnam this year with HCM City as the most favourable destination.The National Assembly also passed a resolution on piloting special mechanisms and policies fo…


The first batch of VinFast Lux cars have shipped to 14 countries in four continents for quality and safety tests.The testing process will last from now to August 2019, ensuring all VinFast products meet the high standards of Europe and the world before being sold on the market.A total of 155 VinFast cars are scheduled for quality testing, as the first trial production batch, of which 113 are completed vehicles and 42 semi-finished cars. The trans…


A technology and entrepreneurship program for the youth of Mindanao, in the southern part of the Philippines, will empower and create more opportunities for them. According to a recent report, “Coop Kicks” will engage and mobilise the youth of Mindanao, encouraging them to take part in charting the new course of the region towards peace, unity, and prosperity. Support for the Youth The Coop Kicks program aims to tech-up the youth…


The Vietnam Chamber of Commerce and Industry – Ho Chi Minh City Branch (VCCI-HCM), in collaboration with the China Foreign Trade Center, held a conference on March 20 to introduce the 125th China Import and Export Fair (Canton Fair) and a business exchange between Vietnamese and Chinese enterprises.Canton Fair is the largest trade fair, with more than 25,000 exhibitors and about 200,000 buyers expected to attend.The fair is divided into thr…


The Republic of Korea's Financial Supervisory Service (FSS) said on March 21 that it has asked Indonesia and Vietnam to step up cooperation in the financial sector, in line with Seoul's policy aimed at deepening ties with Southeast Asia. Yonhap news agency cited a FSS statement as saying that Yoo Kwang-yeol, first senior deputy governor of the FSS, is on a five-day visit to Indonesia and Vietnam from March 19 during which he discussed issues…


VinSmart Company, a subsidiary of Vingroup, announced on March 20 that its Vsmart smartphones would be distributed in Spain by Media Markt.The Vsmart smartphone is the first Vingroup product introduced in Europe, showing the group’s ambition to bring Vietnamese technology to the international market.“Spain is an extremely important market for Vsmart, the first foreign market Vsmart set foot on, through a combination with BQ - Spain&rs…


 The Vietnam International Packaging, Label, Thermal Transfer, Printing Technology Equipment and Supplies Exhibition 2019 (VPSE 2019) kicked off in Hanoi on March 20.The annual event was initiated by Dong Nam Advertising and Commercial Promotion JSC and held in conjunction with the Vietnam International Advertising Equipment and Technology Exhibition (VIETAD 2019).It offers a good opportunity for domestic and foreign organisations and enterp…


Việt Nam now exports 1 billion pairs of shoes per year and the nation is the second largest leather and footwear exporter in the world, according to experts at the Việt Nam Footwear Summit 2019 held in HCM City Wednesday. Diệp Thành Kiệt, vice chairman of the Việt Nam Leather and Footwear Association (Lefaso), said Việt Nam follows just China in leather and footwear exports with more than 1 billion pairs of shoes each year. Fro…


A specialised route for goods transportation was opened on March 21, linking the Tan Thanh border gate of Vietnam’s northern border province of Lang Son with the Pu Zhai border gate of China’s Guangxi Zhuang Autonomous Region.The opening ceremony was attended by Vietnamese Deputy Foreign Minister Le Hoai Trung, the secretaries of the Communist Party of Vietnam committees of Lang Son, Ha Giang, Cao Bang and Quang Ninh provinces that bo…


Projects in line with NEA's efforts to better optimise resources, push technology adoption, and improve productivity across the environmental services industry. It was announced yesterday, Thursday 21 March 2019 that two consortiums in Singapore will be undertaking the design, development and trial of driverless vehicles for road cleaning, having been awarded research and development projects by the National Environment Agency (NEA) and the Minis…


Sometimes, the best way to get over something you fear is to turn it into a business. While this method might not work for all fears, this was the approach Singaporean Marcus Ong (28) took to deal with his fear of cockroaches. “I started fearing cockroaches as far back as I can remember,” he shared in an interview with us. “I disliked them because I have this [idea] that all cockroaches are dirty.”........


The three founding members of local start-up SG Bike had different ideas of what their future would be like before they started the firm. Chief technology officer David Lim, an economics graduate from University College London, wanted to be an investment banker. Marketing director Benjamin Oh eyed a career in public relations, while the company’s founder and chief operating officer Sean Tay wanted to be a nuclear scientist.   In a…


Catalist-listed Jawala's Malaysian bank accounts with at least RM16.5 million (S$5.5 million) have been unfrozen, following an order by the Malaysian Anti-Corruption Commission to release the timber company's suspended bank accounts. Jawala, in a regulatory filing on Thursday night (March 21), broke the good news that its subsidiary Jawala Plantation Industries (JPI) had received a letter dated March 21 from CIMB Bank saying that the bank had rec…


Compromised credentials from Singaporean government agencies and educational institutions were put up for sale on the dark web Credentials from several government agencies and educational institutions, as well as more than 19,000 compromised payment cards from banks in Singapore, have been put up for sale online by hackers. “Around 50,000 of them are government e-mail addresses. They are either outdated or bogus addresses, except for 119 o…


The ride-hailing competition in Singapore is about to heat up again with the entry of Vietnamese firm FastGo next month. FastGo offers three types of rides — private cars, taxis and motorbikes. But like Gojek, it is likely to offer just private-hire car services in Singapore. Those keen to register as a FastGo driver can do so via its mobile app from April 1, and customers will be able to book rides from April 30. Drivers will be charged a …


National water agency PUB said on Thursday (Mar 21) it will terminate the water purchase agreement with Hyflux subsidiary Tuaspring Pte Lte (TPL) and start taking over its desalination plant, if the company does not remedy its defaults by Apr 5.  In a media release, PUB said it is willing to waive the compensation sum it is entitled to under the agreement, and purchase only the Tuaspring Desalination Plant (TSDP) at zero dollars.&n…


A Manpower Group report has found that 56 per cent of Singaporean employers have trouble filling open positions, the highest figure reported since 2008. A quarter of companies have also commented that filling technical roles became tougher in 2018, with engineers, technicians and IT professionals being in high-demand. This is not just a Singapore phenomenon.  According to management consultant Korn Ferry, Asia P…


Co-founded by former Expedia employees, Singapore-based Travelstop is a modern, artificial intelligence (AI) powered SaaS platform that simplifies business travel, automates expense reporting for businesses in Asia, and offers insights to business owners. The platform is quickly gaining traction from the region’s startups and fintech community, helping small and medium-sized enterprises (SMEs) and high-growth organizations includi…


Diners here can look forward to more innovative dining concepts from South-east Asia, as restaurant associations in the region come together to share theirideas and creations. A memorandum of understanding was signed on Thursday (March 21) by the restaurant associations from Singapore, Cambodia, Indonesia, Malaysia, the Philippines and Vietnam to form an Asean Restaurant Associations Alliance. The MOU will help the food and beverage (F&B) sec…


When it comes to luxury, nothing compares to the quality and craftsmanship of Ermenegildo Zegna Su Misura, a completely personalized service where every detail and every stitch is carefully executed to match the characteristics and personality of the individual customer. The excellence of Ermenegildo Zegna Su Misura starts with the wool itself: wool that is first transformed into precious fabrics and then into expertly crafted made-to-measure att…


According to a recent report, the Thailand Post is looking to expand financial services through electronic know-your-customer (e-KYC) and self-service kiosks to serve customers in rural areas with no bank branches, competing with 7-Eleven convenience stores. The President of Thailand Post noted that the agency has seen an increase in the demand for bank services at our 1,200 branches nationwide, serving consumers who may not be able to go to bank…


Jeepney manufacturer Elmer Francisco Industries (EFI) and Hong Kong-based fintech  Madison Holdings have teamed up to develop a flexible financing scheme, aiming to enable jeepney operators to buy new public utility vehicles as old units are required to be phased out. The program intends to help operators and drivers abide by the government’s Public Utility Vehicle Modernization Program (PUVMP). This is pursuant to Department of Transp…