South East Asia

Date

Smart manufacturing is the key for the industry to stay ahead of the competition as well as bring opportunities for businesses to make a difference. In this, Ericsson is committed to working alongside both foreign and local companies in Vietnam that share the same vision. At the talk show Digital transformation with 5G – The Path to Smart Factories in Vietnam hosted by VIR, Seck Yee Chung, member of the Steering Committee of the Vietna…


Malaysia is expected to spend 77.3 billion ringgit (US$17.6 billion) in subsidies and cash aid this year, the largest amount in history, to help temper the effects of rising prices, its finance minister said on Saturday. Prices of goods have jumped in Malaysia in recent months due to supply chain disruptions, labour shortages and the impact of war in Ukraine. Food inflation rose 5.2% from a year earlier in May, the highest since November 2011, go…


New demands on corporates, summit finale told The global community concept of ESG (Environmental, Social, and Corporate Governance) should be regarded as a “new normal”’ on the road to achieving sustainable development goals, a conference for female CEOs acknowledged on Saturday. Advocates of the view that company profits should be shared among the workforce, rather than flowing back into the pockets of owners, made their case o…


2022-06-26

FocusEconomics has raised the gross domestic product (GDP) growth forecast for the Philippines to 6.9 percent this year, from an earlier 6.7 percent estimate, to remain the fastest growing economy in Southeast Asia. The Barcelona-based think tank said it expects the economic momentum to be carried over by the faster-than-anticipated 8.3 percent growth in the first  quarter, from a 7.8 percent growth in the fourth quarter.....


2022-06-26

You have booked a meeting room in NUS’ SDE4 where the rooms have their lights and cooling system powered down by default. As you enter the meeting room at the allocated time, you find that the room has been cooled at just the right temperature, comfortable for all attending the meeting. Occupant thermal comfort in an indoor environment does not have to come at the expense of the environment, as SDE4 has demonstrated. The highly energy effic…


The collective trademark of Sen Kra’op (SKO) fragrant rice and Damnoeb Sbai Mongkul (DSMK) Cambodian premium glutinous rice was inaugurated to increase exporters’ confidence and boost exports of milled rice to the global markets. At the inauguration, Minister of Commerce Pan Sorasak hailed the registration process of the two classes of rice, under a single collective trademark, as a sign of progress for the Cambodian rice sector at al…


ING BANK N.V.-Manila will leave the Philippine retail banking market before 2022 ends, just about three years after its foray into the space, due to uncertain global conditions that affected its operations in the country. “ING’s retail business in the Philippines was intended as the first step and foundation for a broader Asia retail banking plan. Since its launch in 2018, the business has demonstrated good progress, commercial moment…


The aviation industry is finally seeing signs of optimism as it tries to rebound from a major crisis, although the recovery path appears to be uneven across the globe, particularly in Asia-Pacific as a result of remaining restrictions. The restrictions are hampering a region that still lags the rest of the world in terms of aviation activity, said Philip Goh, regional vice-president for Asia-Pacific at the International Air Transport Association …


The COVID-19 pandemic has been brought under control, and life for most people returned to normal. However, non-cash payments, encouraged during the pandemic to limit contact, have become popular among many people.The pandemic accelerated this payment form towards a cashless society as oriented by the Government and the State Bank of Vietnam (SBV)....


2022-06-25

Pertama Digital Bhd (PDB) today announced steps to complete the disposal of its foreign assets in China that deal with fabric manufacturing to focus on its mobile and digital solutions businesses. Before changing its name, the company operated as Sinotop Holdings Bhd. It produces and sells fabric goods through BeTop Group Ltd and its wholly-owned Top Textile (Suzhou) Co Ltd..... More https://bit.ly/3bsnbSb Via: nst.com.my


INDONESIA’s central bank may have been able to hold out on increasing its benchmark 7-day reverse repurchase rate for the 15th consecutive month, but that streak will likely be broken by the end of the year, analysts said in separate reports on Thursday (Jun 23). Even as other central banks globally have hiked policy rates this year amid the upsurge of inflation pressure, Bank Indonesia (BI) has maintained it at 3.5 per cent, a record …


BlackRock is poised for a major expansion in Singapore as it follows other international firms looking to tap capital flows into South-east Asia. The world's largest asset manager is in discussions to double its floor space at an office block in the city-state's central business district, according to people familiar with the matter....


2022-06-24

Celebrating Jakarta’s 495th anniversary on June 22, Tokopedia has highlighted the bestselling categories in the capital throughout the second quarter of 2022, which include Food and Beverages, Health, Household, Electronics and Automotive. Meanwhile, baju pangsi, blangkon and sabuk adat Betawi were some of the most searched for Betawi products.This article was published in thejakartapost.com with the title "Tokopedia, Dekranasda D…


Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app.   In Channy, president and group managing director of ACLEDA, said the June 22 agreement with WU would facilitate a fast, convenient and reliable way of overseas fund transfer via ACLEDA mobile from anywhere at …


To help take Vietnamese lychee exports to the next level, a seminar entitled “Vietnamese lychees go global” was held in Hanoi to support and promote the global brand name of the popular Vietnamese fruit. The northern provinces of Hai Duong and Bac Giang are the two leading areas for lychee production. Tran Van Quan, Vice Chairman of Hai Duong People’s Committee, said the province aims to make Vietnamese lychee a global name than…


The country's reopening and a push for economic recovery is expected to generate double-digit growth in the country's employment rate this year, according to job search platform JobsDB. IT, engineering, digital marketing professions and those with skill sets to support the creation of the metaverse are in short supply, despite an increase in their salaries, said JobsDB....


2022-06-24

Malaysia is now closer to reaching 100 per cent connectivity as outlined in the government's Jendela initiative by 2025 with the successful launch of Measat-3d satellite today. Launched on Ariane 5 at 6.50pm here on Wednesday (5.50am Kuala Lumpur, Thursday), the newest Measat Global Bhd's RM1.2 billion satellite was launched about 20 minutes off scheduled due to additional thorough checks before the launch gets the green light..... More: htt…


2022-06-24

Tycoon Edgar “Injap” Sia II’s MerryMart and property giant Ayala Land Inc. have signed a 15-year contract that would expand MerryMart’s supermarket footprint in ALI’s developments in Laguna and Tarlac. In a disclosure yesterday, MerryMart said it has signed a 15-year lease contract with ALI to build stand-alone full-sized eco-friendly supermarkets in Nuvali Laguna and Cresendo Tarlac, two sprawling developments of AL…


Cryptocurrencies are going through a period of high volatility as interest rates rise and investors redirect their capital into less risky assets. Bitcoin, the world's largest token, has fallen to a two-year low of around US$20,000 since the Federal Reserve raised rates by 75 basis points on June 16....


2022-06-23

French Ambassador Jacques Pellet expressed his commitment to promote tourism and investments potential in Battambang to French people and business people. Governor of Battambang Sok Lou met with the French Ambassador in the Battambang Provincial Hall on the afternoon of June 22. Lou said that the Cambodian Government has agreed to upgrade Battambang Airport to become a 4C Airport equivalent to the airport in Siem Reap. A working group is in the p…


2022-06-23

Indonesia is pushing for faster progress on infrastructure projects carried out in cooperation with Japan. Transportation Minister Budi Karya Sumadi met with high-ranking officials in Japan on Tuesday and Wednesday to discuss several projects, including the second and third phases of Jakarta’s MRT, the Jakarta-Surabaya semi-fast railway project and an international-standard motor vehicle proving ground in Bekasi, West Java.This article was …


Thailand's customs-based exports rose a faster than expected 10.5pc in May from a year earlier, helped by more shipments of oil and passenger cars, according to Customs Department data. That compares with a forecast for a rise of 6.7pc in May in a Reuters poll. Imports jumped 24.1pc year-on-year in May, with a trade deficit of US$1.87 billion in the month.....


Vietnam welcomes Thai enterprises and creates optimal conditions for them to invest in the areas of Thailand’s strengths and Vietnam’s potential, Vice President Vo Thi Anh Xuan affirmed on June 23.Addressing the Vietnam-Thailand Business Forum in Bangkok, Xuan stressed that Thailand ranks ninth out of the 139 countries and territories worldwide investing in Vietnam, and second in the Association of Southeast Asian Nations (A…


Aside from refined sugar, the Philippines may also suffer from a shortage of raw sugar due to higher demand from processors and manufacturers amid thin domestic supply and lower output. Sugar Regulatory Administration (SRA) chief Hermenegildo R. Serafica said industrial users and manufacturers are now buying raw sugar just to meet their demand for the sweetener, putting more pressure on the country’s raw sugar supply.....


2022-06-23

Malaysia Airlines and Japan Airlines have expanded their codeshare routes following Malaysia Airlines' recent announcement to launch new direct flights from Kuala Lumpur to Tokyo, Haneda, beginning on August 14, 2022. In a joint statement, both carriers said this significant move reaffirmed the strategic collaborative business partnership entered into by both oneworld Alliance members in July 2020 to serve the customers better and facilitate trad…


Singapore has handed out in-principal approvals to three players that deal in digital payment tokens (DPTs), more commonly known as cryptocurrencies, despite plunging prices in that space. It is a sign that Singapore is intent on promoting the use of the blockchain technology that drives cryptocurrencies, while trying to stop retail investors from getting burnt....


Thai oil and gas conglomerate PTT Group’s International Trading Business unit confirms no shortage of oil in the Thai market despite the ongoing Russia-Ukraine crisis but urges energy-saving discipline from all sectors. In admitting that volatility in global oil prices is uncontrollable, PTT Group recommends application of tools such as oil futures to achieve effective cost management.....


2022-06-22

The government plans to raise the royalty on tin in a bid to gain more revenue amid surging commodity price, the Energy and Mineral Resources Ministry said on Tuesday. In doing so, the government will replace the previous flat royalty of 3 percent of the selling price – based on Government Regulation No. 81/2019 – with a progressive rate that increases with higher prices obtained by producers.This article was published in thejaka…


2022-06-22

CTOS Digital Bhd's general offer to acquire the rest of the shares in RAM Holdings Bhd will enhance its position as a credit-assessment expert. Hong Leong Investment Bank Bhd (HLIB Research) said RAM is a bond rating leader with a 65 per cent market share.   With this, the firm said CTOS looks to leverage RAM's leadership to penetrate new addressable markets, particularly in smaller bond issuances and high yields, targeting the under-t…


2022-06-22

The planned Sangley Point International Airport (SPIA) in Cavite may finally happen, at least say sources in the business grapevine, pointing to the Remullas’ closeness to president-elect Ferdinand Marcos Jr. While the project has previously suffered numerous setbacks, industry sources say it’s now moving forward, with its proponents determined to really push through with the development..... More: https://bit.ly/3Ncf2OH Via: phi…


2022-06-22

Full-time employees in Singapore are worried that a four-day work week will mean longer hours for them, an online survey of over 1,000 workers showed. But they will support their employer implementing such an arrangement as an additional rest day would benefit their mental health, according to results of a poll by American software company Qualtrics released on Tuesday (June 21)......


2022-06-21

The world economy had just gained some breathing space after two years of pandemic restrictions, only to be thrown into disarray again by high inflation, forcing authorities around the world to embark on a course of unprecedented monetary tightening. Filippo Gori, CEO of JP Morgan Asia-Pacific, spoke with The Jakarta Post’s Vincent Fabian Thomas and Mark Lempp on June 17 to discuss challenges in the global economy, capital market and bankin…


The Government announced a S$1.5 billion support package on Tuesday (Jun 21) to counter rising inflation, targeted at providing "immediate relief" for lower-income and more vulnerable groups.  In April, Singapore’s core inflation accelerated to 3.3 per cent year-on-year, the highest since January 2012.  Deputy Prime Minister and Finance Minister Lawrence Wong announced on Tuesday the details of the new package,…


With prices of goods and services rising at their fastest pace in a decade, consumers in Singapore are ready to rein in spending of their hard-earned cash, a survey conducted by DBS Bank found. Most of the survey respondents said they would prioritise spending on household necessities such as groceries, utilities and dining out. Meanwhile, shopping, recreation and travel ranked among their lowest priorities.....


Travel companies in Vietnam have made plans to meet the rising demand for visitors as the summer holiday peaks. Tran Quoc Bao, deputy general director of Saigontourist, a leading tour operator, said it expects to serve more than 280,000 customers and the number may be higher because the demand for domestic and outbound tours is still growing strongly.....


Mobile payment gateway provider Opn Co. was valued at roughly US$1 billion in a $120 million funding round last month, making it one of a handful of unicorns in Japan. The Tokyo-based company, previously known as Omise, owes much of its success to its early entry into another Asian nation: Thailand. Entering the market in 2013, when it was heavily reliant on cash transactions, ...


Prime Infrastructure Holdings Inc., billionaire Enrique Razon’s sustainable infrastructure firm, is considering an initial public offering in Manila that could raise as much as $400 million, according to people with knowledge of the matter. The company is working with financial advisers on the potential first-time share sale, the people said. A listing in the Philippines could take place as soon as this year, said the people, who asked not …


2022-06-21

A research by Qualtrics has found that 62 per cent of Malaysians prefer to work whenever they want compared to 48 per cent who opt for a shorter work week.  In the Southeast Asia region, 60 per cent of full time employees would prefer the flexibility to work whenever while 37 per cent choose one less day at work.  That flexibility is also a bigger driver of retention (66 per cent) than a four-day work week (50 per cent) in the region. .…


2022-06-21

The Monetary Authority of Singapore (MAS) announced today the first use case of NovA! to help financial institutions (FIs) assess the sustainability performance of Singapore’s real estate sector.  NovA!, part of the National Artificial Intelligence (AI) Programme in Finance, is aimed at helping FIs harness AI to generate insights on financial risk. In the initial phase, the programme will focus on enhancing FIs’ ability to assess…


Solar Philippines has submitted offers to contract most of its planned 10 gigawatts of projects, including the world’s largest, as the Southeast Asian nation seeks to meet rising demand for electricity while shifting away from coal. If the offers are approved by offtakers and regulators, the company would potentially have 9 terrawatt-hours a year of contracted energy, enabling it to start most of the targeted capacity in 2025 and 2026, Sola…


2022-06-20

Malaysia's new vehicles sales are expected to fare better in June than May as the Sales and Service Tax (SST) exemption, which is slated to end this month, will lead to aggressive push for sales by car companies.  The rosy outlook, however, was expected to be dampened by the shortage of chips and components coupled with the supply chain disruptions that would continue to affect some makes, the Malaysian Automotive Association (MAA) said. "Th…


Imagine sitting on a white sandy beach with a view of the clear turquoise sea in the Maldives as you attend a meeting over Zoom. Swopping your creaky office chair for a shady spot on the beach might have sounded like an impossible dream a few years ago but it is a lot closer now with more companies here allowing employees to work from anywhere in the world.....


Vietnam and the Republic of Korea (RoK) sought ways to improve the efficiency of their partnership in investment and innovation during a conference in Ho Chi Minh City on June 17.According to Deputy Minister of Planning and Investment Tran Duy Dong, despite complicated world situation, Vietnam still enjoyed good socio-economic outcomes in the first five months of this year.


2022-06-19

Minister of Commerce Pan Sorasak met with a business delegation of Nestlé Switzerland to discuss information exchange and investment opportunities in Cambodia. The Minister met with the Nestlé delegation on the evening of June 17, according to the information of the Ministry of Commerce. The delegation included Remy Ejel, AOA CEO, Chris Hogg, VP Communication Manager and Michelle Alvarillo, Regional Manager, as well as other busines…


2022-06-19

PT Medco Energi Internasional, the country’s second-largest oil and gas company, has seen its revenue rise 62 percent as its production increased simultaneously with surging oil prices. The publicly listed company said in a statement on Wednesday that it booked revenue of US$489.34 million in the first quarter, which comfortably outpaced a 36 percent year-on-year (yoy) rise in the cost of revenue to $247.34 million in the same period.This a…


Group aims to drive applications in the industrial sector The Digital Economy and Society (DES) Ministry has unveiled a 5G technology alliance aimed at transforming 5G showcases into real use cases with a target of rolling out 10 of them this year. The alliance was established to build an affiliate network of 5G tech parties, including telecom operators, vendors and corporate users, to drive the 5G ecosystem.....


2022-06-19

The airasia Super App today announced a brand new feature, the airasia pocket. The closed-loop e-wallet within the super app enables users to reload and make payments for all the products and services on the app while being rewarded simultaneously.  airasia Super App chief executive officer Amanda Woo said this was the final step in closing the loop for the whole airasia ecosystem, which will draw out the true superpower of the app.....


2022-06-19

The Philippines booked a double-digit rise in external debt to $109.75 billion in end March this year from $97.05 billion in the same month last year as the national government borrowed more to fund COVID-19 response measures and bankroll much needed infrastructure projects. Outgoing Bangko Sentral ng Pilipinas Governor and incoming Finance Secretary Benjamin Diokno attributed the 13.1 percent year-on-year increase in the country’s deb…