South East Asia

Date

Industry is eager for high season Tourism operators are urging the relaxation of travel restrictions in addition to a shorter quarantine to lure back more international arrivals for the upcoming high season....


An Industry Ministry official has acknowledged that Indonesia is still far from achieving its electric vehicle (EV) adoption goals due to the high prices of EVs and limited availability of charging stations. Industry Ministry maritime industry, transportation and defense equipment director Sony Sulaksono said Indonesia had only 150 electric four-wheelers, 5,538 two-wheelers and 29 three-wheelers on the road to date, which was "stil…


  Despite the lull in economic activities in the country, Cambodia’s agriculture exports persist, with the country exporting its cashew nuts to 12 major markets. From January to August, Cambodia exported cashew nuts to 12 international markets in Asia, Europe, and Africa. According to the Ministry of Agriculture, Forestry and Fisheries, during this period country exported to Vietnam, China, Thailand, Japan, India, India, South Korea, t…


Hong Seng Consolidated Bhd (HSC) today inked a share sale agreement (SSA) with Robust Potential Sdn Bhd (RPSB) to sell two million ordinary shares representing 100 per cent stake in Hong Seng Priority Management Sdn Bhd (HSPM) for RM34.50 million. The disposal exercise will result in an estimated gain of approximately RM31.20 million to HSC.....


A number of Russia businesses displayed Vietnamese foods and agricultural products at the 30th International Food Exhibition  (WorldFood 2021) in Moscow from September 21 - 24, which attracted over 600 businesses from 30 other countries worldwide.The businesses introduce diverse products imported from Vietnam, such as plants and vegetables, seafood, processed poultry, milk and dairy products, confectionery, orga…


Mobile network providers are ready to provide mobile number portability (MNP) services by the end of the month, but subscribers are advised of certain porting limitations at the onset. Telecommunications Connectivity Inc. (TCI) – a joint venture company of Smart, Globe and Dito – said the MNP service would become commercially available on Sept. 30, allowing mobile customers to choose their telco service provider as frictionless as pos…


Businesses such as food and beverage (F&B) outlets and retailers will receive about $650 million in wage subsidies, rental waivers and other forms of support to help them cope with the tightened Covid-19 curbs. The sum will be funded from the higher-than-expected revenues collected by the Government to date, with no further draw on past reserves, said Finance Minister Lawrence Wong on Friday (Sept 24).....


Indonesia, called out for being the second-worst offender for marine plastic pollution, only recycles about 10 percent of its plastic waste. Recycling start-ups have emerged in the country in a bid to use technology to tackle the issue, but financing is a key challenge for the budding industry.This article was published in thejakartapost.com with the title "Recycling start-ups say funding still challenging". Click to read: https://…


Exports rose less than expected in August as coronavirus restrictions affected manufacturing and logistics, Commerce Minister Jurin Laksanawisit said on Friday, even though a weaker baht provided a boost. The curbs were imposed in July and August to contain the Southeast Asian nation's worst coronavirus outbreak to date. But they have been relaxed from this month as the outbreak eases.....


MRT Corp and Prasarana Malaysia Bhd are exploring the possibilities to turn mass rapid transit (MRT) stations into e-commerce hubs. In disclosing this, MRT Corp chief executive officer Datuk Mohd Zarif Hashim said the Covid-19 pandemic had changed the way people travel and shop......


Garment products from Taiwan will be showcased at the Taiwan Textile Roadshow held in Hanoi from October 6-7 at the Hanoi International Exhibition Centre at 91 Tran Hung Dao Street.The Taiwan Textile Federation (TTF) and the Vietnam National Trade Fair and Advertising Company (Vinexad) will coorganised the roadshow under both direct meetings and via online platforms. It is sponsored by the Bureau of Foreign Trade under the Ministry of Economic Af…


Consumers were cautiously optimistic while businesses turned gloomy in the third quarter, as pandemic uncertainties persist, the Bangko Sentral ng Pilipinas reported Friday. A nationwide BSP survey of 5,670 households on July 1-14 showed the overall consumer confidence index (CI) remained in the red at -19.3% in the third quarter, which was nevertheless an improvement from the -30.9% contraction in the preceding quarter....


The National Trades Union Congress and the United Workers of Electronics and Electrical Industries will support Panasonic workers who have been retrenched and help them find new jobs, said Prime Minister Lee Hsien Loong on Friday (Sept 24).  The Japanese company on Thursday laid off 700 workers, or about one-third of its total workforce in Singapore, as it has decided to shut down its refrigeration compressor manufacturing operations he…


On Jul 18, major news outlets worldwide published an investigation into a massive data leak that showed rights activists, journalists and politicians around the world were targeted by authoritarian governments using hacking software sold by an Israeli surveillance company. The company, NSO Group, produces Pegasus, a type of malware that infects iPhones and Android devices to enable operators of the tool to extract me…


ELECTRONICS giant Panasonic announced on Thursday that it would lay off some 700 workers in Singapore as it shuts down its refrigeration compressor manufacturing operations by the end of Sept 2022. The company said that the move was a result of a “challenging” global business outlook and comes after a long-term business strategic review of its refrigeration compressor business portfolio. The compressor manufacturing operations will be…


Retail investors are ready to open their cheque books for the Monetary Authority of Singapore (MAS) bond auction that aims to raise $2.6 billion to fund infrastructure development.       The auction for the 30-year Singapore Government Securities (Infrastructure) will be held next Tuesday (Sept 28).....


Qorvis has picked up a $70,000 monthly retainer pact for strategic communications and media relations services for Cambodia. The DC-based firm also will work to promote public awareness of Cambodia along with the opportunities for travel and tourism....


Travel agents, airport operators and airlines all say they are ready to cope with an influx of foreign visitors safely and efficiently. All they need is a reopening date from the Cambodian government. Industry representatives welcomed last Friday’s comments by Prime Minister Hun Sen that Cambodia should consider a seven day quarantine for fully-vaccinated tourists.....


About 600 struggling small food and beverage (F&B) businesses in Ho Chi Minh City, the largest coronavirus hotspot in Vietnam, have received support from SABECO via the “Collecting a Million Stars” community initiative to overcome these unprecedented times. The Central Committee of the Ho Chi Minh Communist Youth Union, SABECO, and its Bia Saigon today distributed aid support to 600 F&B businesses in Ho Chi Minh City with the …


Vingroup and Google Cloud have signed a Memorandum of Understanding (MOU) to support Vingroup's ongoing digitization and innovation strategy.  The MOU agreement was signed this week in New York City, on the sidelines of President Nguyen Xuan Phuc’s diplomatic trip to the United States. The agreement sees Vingroup and Google Cloud collaborating closely as strategic partners, to drive the group’s digital transformation....


Businesses from the Republic of Korea (RoK) poured over 2.43 billion USD into Vietnam in the first eight months of 2021, ranking third in terms of total registered capital after Singapore and Japan.According to the Foreign Investment Agency under the Ministry of Industry and Trade, RoK firms invested in 251 new projects worth nearly 759 million USD and pumped an additional 1.18 trillion USD into 179 existing projects. Meanwhil…


THE increasing mobile data and cloud computing traffic and the rapid development of technologies such as artificial intelligence and the Internet of Things significantly increased the volume and complexity of data sets, driving the growth of the big data and business analytics market.....


The non-performing loan (NPL) ratio of Philippine banks may peak at 8.2 percent next year, the Bangko Sentral ng Pilipinas (BSP) said. In his weekly online press conference, BSP Governor Benjamin Diokno said the NPL ratio of the banking sector may double next year, but may remain at single-digit levels compared to the ratio recorded during the Asian financial crisis.....


  SINGAPORE-BASED robo-advisor StashAway, which expanded its operations into Thailand earlier this month, joins a growing number of private banks, mutual funds and local digital portals keen to facilitate the outflow of Thai baht from the kingdom into higher-yielding stocks and...


Singtel on Thursday (Sept 23) said it intends to exercise its full rights entitlement for its direct 14 per cent stake in regional associate Bharti Airtel, to buy into the latter's 21,000 crore rupees (S$3.8 billion) rights issue at 535 rupees per share....


SugarCo is the name given to a newly formed state-owned sugar processing holding company, aimed at raising domestic production to minimize household sugar imports over the long term. National plantation holding firm PT Perkebunan Nusantara III (PTPN III) established SugarCo, officially named PT Sinergi Gula Nusantara, on Aug. 17 by placing 35 sugar factories – previously owned by seven PTPN III subsidiaries – under the new company.Thi…


The Investment Ministry is mulling over plans to ban or restrict the export of processed nickel products with less than 70 percent nickel content. Speaking at a virtual conference on Sept. 17, Investment Minister Bahlil Lahadalia said the government was planning to ban exports of processed products containing 30 to 40 percent nickel to preserve Indonesia’s nickel reserves and develop the downstream mining industry.This article was published…


The Ministry of Tourism registered a total of 79,015 tourists in the third weekend of September, an increase of 20 percent compared to the previous week, according to Minister Thong Khon. Of the domestic visitors, 77,804 were national tourists, and 1,211 were foreign visitors, he pointed out, stressing that it is a more positive sign for domestic tourism.....


The government will speed up vaccinations and introduce urgent stimulus measures to mitigate the impact of its most severe coronavirus outbreak, Prime Minister Prayut Chan-o-cha said on Wednesday.  The country has reported more than 1.5 million infections and 15,000 deaths, about 99% of those since April this year, after a year of successful containment during which the key tourism sector collapsed.....


IOI Properties Group Bhd is expected to win the tender for a plot of 99-year leasehold land at Marina View, Singapore as it is the sole bidder with a bid price of S$1.5 billion (about RM4.7 billion). The public tender was launched by Singapore's Urban Redevelopment Authority on June 28 this year and closed on September 21.....


Vizione Holdings Bhd, via its wholly-owned Vizione Builder Sdn Bhd, has partnered with Pan Sejati Development (M) Sdn Bhd (PSD) to develop Residensi Prihatin project in Putrajaya, with a gross development value of RM500 million. In a statement today, Vizione said the project would comprise 2,500 strata units of affordable apartments together with infrastructure services, common facilities, common property and a connecting bridge.....


The T&T Group on September 21 signed several MoUs and contracts with US partners within the framework of President Nguyen Xuan Phuc’s working trip to the US.The Vietnamese firm inked an MoU with UPC Renewables on working together in offshore and nearshore wind and solar power projects in several provinces in Vietnam with a combined capacity of nearly 1,500 MW and total investment of about 2.5 billion USD......


The capital city of Hanoi has defined the development of processing industry as an optimal solution to improve the value of local farm produce and ensure supply of the products to the domestic market as well as for export.In order to implement the solution, the agricultural sector has focused on promoting the application of high technology in all production activities, while developing material growing areas and forming closed productio…


The Asian Development Bank maintained its economic outlook on the Philippines despite the recent tightening of pandemic lockdowns, saying the economy is healing but recovery remains delicate. In an update of its flagship “Asian Development Outlook (ADO)” report released Wednesday, the Manila-based lender said the economy will likely grow 4.5% this year, unchanged from its projection in April.....


Local telco StarHub will be buying a majority 50.1 per cent stake in rival Internet service provider MyRepublic's broadband business for residential and enterprise customers in Singapore, which itself was initially started by a former StarHub subsidiary executive. Announcing this on Wednesday (Sept 22), the two companies said that the proposed transaction will consolidate and strengthen StarHub's position in the Singapore broadband market, expand…


Singapore's central bank intends to raise a total of $2.6 billion in the inaugural sale of bonds to fund infrastructure projects that will benefit both the current and future generations. The size of the auction for the Singapore Government Securities (Infrastructure) bonds set for Sept 28 was issued by the Monetary Authority of Singapore (MAS) in a notice on its website on Tuesday (Sept 21).....


CEKD Bhd's shares have been oversubscribed by 131.61 times ahead of the company's initial public offering (IPO) on Bursa Malaysia Securities Bhd's ACE Market. The die-cutting solutions provider is raising RM24.28 million from the IPO exercise.....


State-owned PT Krakatau Steel officially launched on Tuesday a new hot strip mill, the top Indonesian steelmaker’s second such facility in nearly four decades, to expand its domestic market share. After beginning operations in May, the new strip mill was inaugurated by President Joko “Jokowi” Widodo in Banten on Tuesday. Krakatau Steel launched its first hot strip mill in 1983 under then-president Soeharto.This article was publi…


Home automation and energy management are expected to become the mainstream in the near future, buoyed by the rise of new advanced technologies and electric vehicles (EVs), says Schneider Electric, an energy management and automation specialist. "Home automation will be adopted even in low-cost houses in the future. Such systems are already built-in features in mid-range and luxury properties now," Kusol Kusolsong, cluster business vice-president…


The Cabinet approved on Tuesday a further 27 billion baht in relief measures and extended a scheme to boost domestic travel to the end of February, as the government deals with the country's biggest coronavirus outbreak to date. The relief support, such as a subsidy on utilities, will be offered to welfare card holders, government spokespersons told a news conference....


Bid to further boost flagging economy The Finance Ministry will pump additional money into the economic system in the fourth quarter to further improve the flagging economy amid the prolonged Covid-19 pandemic, said director-general of the Fiscal Policy Office (FPO), Kulaya Tantitemit. Ms Kulaya said the fresh money to be injected in the fourth quarter might be higher than that previously planned for the last quarter.....


Minister of Commerce Pan Sorasak plans to lead a delegation to South Korea next month to sign the Cambodia-Korea Free Trade Agreement (CKFTA), if the Covid-19 situation permits, according to a senior official. Many observers share the opinion that the East Asian economy will outstrip most rivals as buyers of Cambodian merchandise once the agreement comes into force, with China cited as a notable exception.   The minister and his South Korean…


The country's tourism industry is on the brink of "total" collapse, according to the Malaysian Association of Tour and Travel Agents (Matta). Hence, Matta is seeking direct financial support for the sector in the national 2022 Budget. In a statement today, the association appealed to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz to help tourism businesses which were facing extreme financial distress. ....


Vietnam’s Power Engineering Consulting Company 1 (PECC1) on September 20 signed a contract to provide assessment and design services to Tanahu hydropower project in Nepal.The contract was inked with a joint venture between Vietnam’s Song Da Corporation and Nepal’s Kalika Group.The Tanahu project aims to meet power demand particularly during dry winter months, minimise fossil fuel-based power generation, …


Internet in the Philippines remains pricey for Filipinos, but bandwidth quality improved this year, a new report released Tuesday found. Filipinos would have to work approximately five hours to afford the cheapest broadband internet package, although this was two hours and 18 minutes less than last year, cybersecurity company Surfshark said in an annual index that examined 110 countries in terms of how digitally advanced they are......


They dreamed of creating their ideal beauty product – and went for it. CNA Lifestyle picked the brains of seven local start-up founders to find out their secrets and what pitfalls to avoid if you want to follow in their footsteps. Beauty junkie and sunscreen advocate Xenia Wong had her eureka moment when she began talking to friends about the importance of wearing sun protection. “My friends felt there weren’t any suitable …


Travel insurers have revised their coverage for COVID-19-related incidents, as measures ease and borders open up in Singapore and overseas.  Insurers here told CNA they have observed that customers’ travel needs are changing amid the pandemic, and there are many considerations when planning for an overseas trip......


SEVERAL companies in Asia-Pacific (Apac) remain in nascent stages of developing and implementing their digital strategies, according to the latest findings of DBS's Digital Readiness Survey released on Tuesday. Out of the 2,600 corporate treasurers, chief executives, chief financial officers and business owners surveyed in the region as well as the US and UK, the survey found that 70 per cent of large corporates across 13 markets in Apac had a di…