Asean Morning News For April 17

The most comprehensive #Asean Morning News Roundup published

Asean Morning News For April 17
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Compiled by AEC News Today    @aecnewstoday

 

RCEP facing a critical deadline
ASEAN is well on its way to becoming a global leader for regional integration and an important step in this process is on deadline.
– The Star Online

ASEAN the cornerstone of RI foreign policy, again
ASEAN has been at the core of Indonesia’s preferred regional order since its inception in 1967. However, after half a century, it is clear that regional challenges have got the best of ASEAN and that the grouping requires substantial reform if it is going to remain the cornerstone of Indonesia’s foreign policy.
– The Jakarta Post

ASEAN in the countryside
2017 is a significant year for the Philippines and the Association of South East Asian Nations (ASEAN). It is the 50th founding anniversary of ASEAN and the Philippines is the 2017 chair. We can understand the frequent travels of President Rodrigo Roa Duterte to our ASEAN neighbors starting last year as he endeavours to set a common understanding and appreciation of the issue facing ASEAN among the ASEAN leaders. The dividend will be a smooth and productive ASEAN Leaders summit later this year.
– Manila Bulletin

DILG: Asean meetings in Bohol to push through despite clash
The scheduled Association of Southeast Asian Nations (Asean) meetings in Bohol starting on Wednesday will “go on as planned” despite the recent clash between security forces and Abu Sayyaf bandits on the island, the Department of Interior and Local Government (DILG) said Monday morning.
– Philippine Daily Inquirer

Brexit’s impact on Asean
AS the United Kingdom formally starts its exit from the European Union, a clearer picture is emerging of how Brexit might unfold.
– New Straits Times

Concerns over Asia’s rising debt on US rate hikes
WITH Asia being a major contributor to world growth, its potentially rising debt on expected US rate hikes is a cause for concern as that may be a further drag on its long-term prospects.
– The Nation

 

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Cambodia morning newsCambodia Morning News

Compiled by Vat Vin    @vin_vat

 

 

 

AEC News Today wishes all of its Cambodia morning news readers a safe and enjoyable Choul Chnam Thmey. Happy New year!

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

 

Jokowi Calls for Introspection After Saudis Invest More in China Than Indonesia
Last month’s state visit to Indonesia by King Salman bin Abdulaziz al Saud of Saudi Arabia had a major impact on the tourism industry, but it did not result in much in the way of investment.
– JakartaGlobe

Now Indonesia Can Take Large Container Vessels Usually Handled by Singapore
President Joko Widodo said large ships will be able to berth at Jakarta’s Tanjung Priok port after continued improvements in services by the port operator.
– Netral English

Indonesia Needs to Do More to Attract Foreign Investment: Jokowi
President Joko Widodo (Jokowi) said Indonesia needs to do more, and provide greater facilities to attract foreign investors to the country.
– Tempo.co

INDONESIA’S NATIONALISTIC OIL LAW COULD REDUCE COUNTRY’S APPEAL TO FOREIGN INVESTORS, SAYS REPORT
Political events can have a significant influence on the price of oil, but the price of oil also has a strong influence on political events. In 2016, the latter was in full force, with enormous geopolitical consequences from the downturn in the price of oil.
– CFO Innovation

Indonesians are The Main Foreign Buyers of Luxurious Condo in Singapore Lately
Indonesian property investors would prefer to go to Singapore if they want to invest in apartments and to Australia to buy houses to be leased out, a survey has said.
– Netral English

Inflation Rate Expected to Increase in July 2017
Bank Indonesia predicts inflation rate to increase in July 2017. Price volatility due to Eid al-Fitr holiday and high administered prices can cause inflation.
– Tempo.co

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Online media join forces to combat fake news
In the wake of rampant fake news and hoaxes on the internet that have caused social discord, Indonesian online media outlets have established a forum in a bid to ensure credible digital content based on trusted information.
– The Jakarta Post

Oil Imports Account for 50 Percent of Domestic Demand
The Energy and Mineral Resources Deputy Minister Archandra Tahar said that oil imports account for 50 percent of domestic oil demand. “National oil demand currently stands at 1.6 barrels per day, whereas national crude oil output is around 800,000 barrels per day,” he said on Saturday as quoted by Antara.
– Tempo.co

EU Against Massive Clearing of Forests in Indonesia for Palm Oil
Indonesia and Malaysia, which produce more than 80% of the world’s palm oil, are resisting proposals by European parliamentarians that could limit their access to the second biggest palm oil market after India.
– Netral English

Star Energy Closes Deal for Chevron’s Salak, Darajat Geothermal Plants
A consortium led by Star Energy, a utility subsidiary of Indonesia’s largest petrochemical group Barito Pacific, has completed $2.3 billion acquisition of two geothermal power plants from global energy giant Chevron.
– JakartaGlobe

NTB Hopes to Attract 3.5 Million Foreign Tourists This Year
Comprising Lombok and Sumbawa Islands as well as hundreds of smaller ones, West Nusa Tenggara (NTB) Province is blessed with beautiful white-sand beaches, forest-covered mountainous areas and a distinct culture.
– Netral English

Competition law revision raises concerns
Since humankind first began to trade, producers and consumers have always sat at different sides of the table: the former looking for ways to maximize profit, the latter seeking to buy quality products at an affordable price.
– The Jakarta Post

What Hampers Nuclear Energy Development in Indonesia
Research and Technology Minister Mohamad Nasir said social factor is likely the only hurdle hampering development of nuclear power plants (PLTN) in Indonesia.
– Netral English

Indonesian official says Rp 6 trillion Disneyland theme park will be built in Boyolali, Central Java
All around Indonesia, one of the things people were talking about over the long weekend was the possibility of spending future long weekends at an actual Disneyland theme park in Indonesia.
– Coconuts Jakarta

US to Launch Probe Into Argentina, Indonesia Biodiesel Imports
The United States said on Thursday (13/04) it would start an investigation into imports of biodiesel from Indonesia and Argentina for possible dumping and subsidization.
– JakartaGlobe

EDITORIAL: Making sense of PLN’s business
State-owned power company PLN has shelved the construction of several power plants with a combined capacity of about 9 gigawatts (GW). Construction of the projects will not be considered until 2020 as the company forecasts that feeble economic growth is set to drastically reduce demand for electricity.
– The Jakarta Post

 

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Lao PDR morning newsLao PDR Morning News

Compiled by Vat Vin    @vin_vat

 

 

 

*AEC News Today wishes all of its Lao morning news readers a safe and enjoyable Pii Mai. Happy New year!

 

Malaysia morning news

Malaysia Morning News

Compiled by Vat Vin    @vin_vat

 

 

Net foreign buying on Bursa dips to RM239.9m
Foreign purchases on Bursa Malaysia continued at a measured pace in the week ended April 14 at RM239.9mil, which was significantly lower from the RM645.3mil the week before, says MIDF Research.
– The Nation

Luxury property owners taking up to 30pc cut just to seal the deal
A growing glut in the luxury property segment here is pushing some owners to shave nearly a third off their asking prices in order to secure a sale or rental.
– The Malay Mail Online

StanChart offers leveraged financing in Malaysia
Standard Chartered has become the first foreign retail bank to offer Wealth Power in Malaysia – a form of leverage financing that enables investments to be amplified between 1.5 and 9 times.
– Hubbis

MAICCI to crystallise M’sia-India business deals worth RM159bil
As the dust settles from the recent official visit by the Prime Minister Datuk Seri Najib Tun Razak to Chennai and New Delhi, the Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) is taking steps to crystallise the various business arrangements that were signed during the trip
– The Star Online

SMBC deal aims to promote Japanese investment in Malaysia
Sumitomo Mitsui Banking Corp. has partnered with the Malaysian government to encourage Japanese companies to invest in the Southeast Asian country.
– Nikkei Asian Review

Petronas to expand LNG portfolio in China
Petronas is set to expand its liquefied natural gas (LNG) business in China, extending its reach to the country’s southern region while looking to expand the volume of supply to its existing buyers.
– FMT

IRB spells out the ‘hardcore defaulters’ liable for 100pc penalty
Under fire for a 100 per cent penalty on tax dodgers starting next year, the Inland Revenue Board (IRB) said today the drastic measure was a way to deal with taxpayers who are “hardcore tax law defaulters”.
– The Malay Mail Online

Ministry challenged to increase contribution to GDP to 5%
The Ministry of Agriculture and Agro-based industry is being challenged to increase its share of the country’s Gross Domestic Product to 5% before the end of Eleventh Malaysia Plan in 2020.
– The Star Online

Government talks trade with Malaysia
Trade Minister Todd McClay is set to meet with his Malaysian counterpart in a bid to talk-up New Zealand’s tourism investment potential.
– Newshub

Wee: Mega projects, mega gains
Engineers in Malaysia have been urged to take advantage of the opportunities from the RM144bil worth of projects inked by China, Saudi Arabia and India with the Malaysian Government.
– The Star Online

RM100,000 fine proposed for illegal cigarettes, liquor
here is a proposal to amend Section 135(1) of the Customs’ Act 1967 to raise the fine to a minimum of RM100,000 for offences related to cigarettes or liquor.
– FMT

Nestlé eyes Malaysian mothers with e-commerce campaign
Nestlé Malaysia’s has launched its ‘Wellness Together-Gather’ e-commerce campaign, which sees the company striking brand partnerships with e-retailers such as Lazada, 11street and Gemfive.
– Marketing-Interactive

Buck up on investment returns, Shahrir tells FGV, FIC
The Federal Land Development Authority (Felda) wants better investment returns from its two subsidiaries — Felda Global Ventures Bhd (FGV) and the Felda Investment Corp (FIC) — to benefit its settlers more.
– The Malay Mail Online

Culinary academy ties up with top schools in Malaysia
Creating breathtaking courses and mouthwatering dishes takes talent, but establishing and keeping it as a profitable business would need a whole new set of skills altogether.
– ManilaStandard

 

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Myanmar morning newsMyanmar Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

 

 

 

*AEC News Today wishes all of its Myanmar morning news readers a safe and enjoyable Thingyan. Happy New year!

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

 

Islamic militants execute Filipino captive
The Philippine army says Islamic State-linked Abu Sayyaf militants have beheaded one of four Filipino fishermen they took captive in December
– SkyNews

Qatar and Philippines sign $200m contracts
Qatar and the Philippines have signed trade agreements worth $200 million during the final leg of President Rodrigo Duterte’s Gulf tour, Manila’s trade and industry secretary told reporters in Doha Sunday.
– The Nation

Rody to Qatar traders: Shoot corrupt Philippine officials
Harassed by corrupt revenue personnel? Shoot them. This was the advice of President Duterte to the business community here while stressing he would not condone any form of corruption during his watch.
– The Philippine Star

Duterte Mideast visits yield $925M in deals, agreements
President Rodrigo Duterte’s first economic mission to the Middle East has produced signed business
– Philippine Daily Inquirer

39 dead in Holy Week drug war
At least 39 people were killed in police operations during Holy Week as Philippine National Police (PNP) chief Director General Ronald dela Rosa proved true to his word that there would be no Lenten break in the war on drugs.
– The Philippine Star

Piñol: Greedy rice traders behind inflation warning
Agriculture Secretary Emmanuel Piñol on Sunday saw red and said a mouthful when sought for comment on the opinion of New York-based Global Source that the directive to prioritize buying local rice—and import when there’s a shortfall—may drive prices up if targets are not met.
– Philippine Daily Inquirer

Agricultural Economics 001
Of late, I was struck by a commentator who said that farm productivity was not that important. That farm net income is. This is difficult to reconcile as the two are related.
– Inquirerdotnet

Armed Forces plans all-Muslim units amid insurgency
The Armed Forces of the Philippines announced plans to create all-Muslim fighting units on Saturday, with quotas from the Catholic country’s largest religious minority, as it looks to bolster efforts to tackle Islamic insurgents.
– The Philippine Star

‘Dutertenomics’ seen to usher in ‘golden age of infrastructure’
If former President Benigno Aquino III had “Aquinomics” that cemented the Philippines’ status as “Asia’s rising star,” make way for “Dutertenomics” under President Duterte’s watch, which is seen ushering in a “golden age of infrastructure.”
– Philippine Daily Inquirer

Mexican investors keen on Mindanao
MEXICAN investors are keen on investing in Mindanao with a focus on agriculture, tourism, and telecommunications, said Julio Camarena Villaseñor, Mexican Ambassador to the Philippines.
The SunStar

Philippines, US to hold military drills
The Philippine military said Sunday it would hold annual exercises with US troops next month, reaffirming its commitment to the alliance despite cooling relations under President Rodrigo Duterte.
– The Star Online

 

* Philippines Morning news is restricted in content today due to the Easter holidays

 

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Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

 

Singapore March exports beat expectations as trade recovery widens
Singapore’s on-year export growth beat expectations in March, thanks to a surge in petrochemical and pharmaceutical shipments, a sign the city-state’s trade recovery is widening to non-electronic sectors.
– Nasdaq/ Reuters

Singapore economy eases to a 2.5% growth in Q1
The latest advanced estimates by the Ministry of Trade and Industry showed that Singapore’s gross domestic product grew by 2.5% YoY, easing from the 2.9% YoY growth in the previous quarter.
– Singapore Business Review

Singapore apartments main target of Indonesian property investors
Indonesian property investors would prefer to go to Singapore if they want to invest in apartments and to Australia to buy houses to be leased out, a survey has said.
– Antara News

Singapore a hot spot for global R&D centres
A conducive business environment and the Smart Nation drive make Singapore an attractive location for global innovation hubs
– The New Paper

Singapore: Spout Entertainment closes $2.1m from Reapra Group
Singapore-based media company, Spout Entertainment Group, has secured a seed investment of $2.1 million (S$2.93 million) from Reapra Investment Holdings (Reapra Group).
– Deal Street Asia

Tourism Board signs 3-year deal with Walt Disney
Moana, Luke Skywalker, and Mickey Mouse may soon roam the streets of Singapore. The Singapore Tourism Board (STB) and The Walt Disney Company Southeast Asia announced a three-year collaboration aimed at providing unique experiences themed around Disney’s biggest brands and most popular stories and characters.
– Singapore Business Review

Changi Airport, SIA, STB to invest S$33.75m in Singapore promotion
CHANGI Airport Group (CAG), Singapore Airlines (SIA) and Singapore Tourism Board (STB) will invest S$33.75 million to renew a three-year partnership to promote Singapore as an inbound destination, the agencies said in a Monday release.
– The Business Times

Singapore’s non-oil exports expand 16.5% in March, beating forecasts and rising for 5th straight month
The rise, came after shipments jumped 21.5 per cent in February, the strongest growth in five years albeit with a low base in the previous year, 8.6 per cent in January, 9.1 per cent in December and 15.6 per cent in November.
– The Straits Times

Singapore’s cost-conscious businesses drive growth of contracting market
The contracting market in Singapore is set for impressive growth this quarter, according to recruitment experts Hays.
– SMB World Asia

Manufacturing sector has to adopt emerging new tech to stay competitive, say experts
A new wave of technological change is sweeping across the global manufacturing sector, and factories here are positioning themselves to be at the heart of this transformation.
– The Straits Times

First of 57 trains with new signalling system starts service
Shortly before 8.30am on Sunday (April 16), a 50-strong crowd gathered on the train platform at Ang Mo Kio Station, craning their necks whenever a train approached, their cameras at the ready.
– Today Online

HDB: Woodlands will be the star of the north
Woodlands is set to undergo a massive transformation over the next five to 10 years under the Housing Board’s Remaking Our Heartland (ROH) programme.
– The New Paper

What skills does Singapore need for the future economy?
We live in a time when roughly half of the jobs in 2020 are not yet known to us, and conversely, half of the jobs today will be extinct.
– Today Online

Most have switched to 3G as 2G shuts down tomorrow
With a day to go before the 2G mobile network shuts down fully, construction worker M Rajesh, 29, is relieved that he had just migrated to 3G and had no loss of network.
– Today Online

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

PM is happy with improved economic situation
Prime Minister Prayut Chan-ocha is satisfied that the economic situation has steadily improved with spending during the five-day Songkran festival this year increasing 12-14 percent to an estimated 16 billion baht compared to the same period last year, government spokesman Lt-Gen Sansern Kaewkamnerd said on Sunday.
– Thai PBS

Property firms cash in on EEC
PROPERTY FIRMS have shown strong confidence in the Eastern Economic Corridor (EEC) with the launch of new residential projects worth over Bt200 billion in Chon Buri, Rayong and Chachoengsao provinces since last year.
– The Nation

Rangsit U: Thai GDP in Q1 will reach 3.4-3.5%
The Faculty of Economics, Rangsit University has estimated that Thailand’s GDP in the first quarter 2017 will rise to 3.4-3.5% due to a slight increase in consumption and significant recovery of the investment sector.
– NNT

P-move opposes 99-year leases for foreign investors
Supporters of the People’s Movement for a Just Society, also known as P-move, have threatened to rally in front of Government House to protest against the cabinet’s resolution allowing foreign investors to lease government land in the eastern special economic development zone for up to 99 years.
– Bangkok Post

5,106 companies removed from govt’s list of juristic persons
The Department of Business Development has withdrawn 5,106 companies from its database due to a failure to submit a financial report for three consecutive years. People who want to do business with them are warned to check whether they are still legal.
– NNT

Thai e-commerce player expands services, aims to support 620,000 stores
E-COMMERCE player LnwShop has expanded its service offerings in the sector, and expects to support 620,000 online shops by the end of this year.
– The Nation

Backdoor talks conducted for rice import from Thailand?
State-run National Food Authority (NFA) may have conducted backdoor negotiations for a possible rice importation from Thailand despite a recent order from President Duterte to prioritize rice purchase from local farmers to boost stockpiles.
– PhilStar

Competition seen spurring take-up of robots
THAILAND should see increasing adoption of collaborative robots in response to intensifying competition locally and from neighbouring countries under the Asean Free Trade Area Agreement, according to Denmark-based Universal Robots.
– The Nation

283 killed on roads during Songkran, down by 17%
A TOTAL of 283 people were killed and 3,087 others injured in 2,985 road accidents nationwide in the first five days of the so-called “seven dangerous days” of the Songkran holiday, the Road Safety Centre announced yesterday.
– The Nation

Transport Ministry to make sure agencies ready for return of Songkran holiday-makers to Bangkok
The Transport Ministry has instructed all related agencies to stand ready to ensure that all Songkran holiday-makers return to Bangkok without a hitch.
– NNT

NCPO revises security policies
The National Council for Peace and Order (NCPO) has adjusted its security measures to ensure the safety of holiday makers.
– NNT

Siam Park to build mini ‘Bangkok City’
Siam Park Bangkok Co, an amusement and theme park operator, will allocate 3 billion baht to build a retail and entertainment project in Bangkok this year in a bid to expand its customer base.
– Bangkok Post

Social media dominates online ad market
SOCIAL NETWORKS now rival search engines as an effective online marketing and advertising channel, gaining a significant market share and raking in huge revenues in Vietnam and elsewhere.
– The Nation

Marine scientists mull no-fishing zone around Libong island to protect dugong
Marine scientists and researchers are considering making seabed around Libong island in Trang province which is rich with sea grass a special and no-fishing zone for the protection and propagation of dugong population.
– Thai PBS

4th Army Area Commander delivers houses to flood victims in Chian Yai district
The 4th Army Area Commander delivered new houses to flood victims in Chian Yai district, stating that His Majesty the King is very concerned about the flood victims.
– NNT

 

*AEC News Today wishes all of its Thailand morning news readers a safe and enjoyable Songkran. Happy New year!

 

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Vietnam morning newsVietnam Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Indian cars flood VN market
Việt Nam imported nearly 4,800 Indian cars in the first quarter of this year, increasing more than threefold compared with the same period last year, according to the Vietnam Customs.
Read more at http://vietnamnews.vn/economy/374612/indian-cars-flood-vn-market.html#sFK04VHoAH5s0DJZ.99
– Viet Nam News

Vietnam’s Prime Minister halts $10.6 bln steel plant over questions of demand, pollution
Vietnamese Prime Minister Nguyen Xuan Phuc has halted work at a $10.6-billion steel plant that had previously been vouched for by the trade ministry, calling for more studies to be conducted into demand and environmental impacts.
– VnExpress

Vietnam tries to overcome hurdles to realize economic target for 2017
Vietnam faced many difficulties in the first quarter of this year but its socio-economic situation showed some positive signs nonetheless.
– VIETNAMNET Bridge

CAAV rushes off feet for global aviation safety evaluation
The Civil Aviation Administration of Vietnam (CAAV) and the US’s Federal Aviation Administration (FAA) will join hands to make an overall assessment on the CAAV’s aviation safety supervision next month, which is essential to Vietnamese airlines’ plan to open direct flight to the US.
– VietnamPlus

350 exhibitors to participate in auto fair
Around 350 domestic and foreign exhibitors are scheduled to take part in the 13th Saigon Autotech & Accessories International Exhibition in HCM City from May 25 to 28.
– Viet Nam News bizhub

Overloaded trucks a blight on HCM City
The HCM City Department of Transport has caught 433 overloaded trucks so far this year, nearly double the number in the same period last year, and collected fines of over VNĐ4.7 billion (nearly US$210,000).
– Viet Nam News

Three Vietnamese entrepreneurs among Forbes’ Asia 30 Under 30
Three young Vietnamese entrepreneurs have been listed on Forbes’ 30 Under 30 Asia list this year.
– Viet Nam News bizhub

‘Made in China 2025’ strategy puts pressure on Vietnam
In May 2015, the Chinese administration announced ‘Made in China 2025’, which aims to push up the development of the country’s industries in the next 10 years.
– Vietnam Times

Japan firm to build Quang Ngai power plant
The Japanese J-Power Development Company plans to build a thermal power plant in Dung Quat Economic Zone in the central province of Quang Ngai, the director of the International Development Business Department of J-Power Electricity, Jahana Takashi, told provincial officials on Thursday.
– Viet Nam News bizhub

Hanoi urges villagers to release police ‘held hostage’ over land dispute
Over 30 people, many of them police officers, have been held hostage in a suburban village in Hanoi on Sunday.
– VnExpress

Action month on food safety launched nationwide
An action month on food safety was launched on April 15 in various localities across the country, focusing on producing, trading and using safe food and preventing liquor poisoning.
– VietnamPlus

PV Power set for August IPO
PetroVietnam Power Corporation (PV Power) decided to make its initial public offering (IPO) this August, the electricity producer announced.
– Viet Nam News

Vietnam’s Petrolimex sets listing price valuing the firm at $2.46b
Vietnam’s Ho Chi Minh stock exchange has given approval for top fuel importer and distributor Petrolimex to list at 43,200 dong ($1.90) per share, valuing it at $2.46 billion, the exchange said in a statement on Friday.
– Deal Street Asia

Vietnam, Netherlands to discuss climate change adaption and water management next week
Deputy PM Trinh Dinh Dung will lead a Vietnamese delegation to attend a meeting with Netherlands government on climate change adaptation and water management scheduled next week.
– Vietnam Times

Experts blow up 130 US cluster bombs in central Vietnam
Officials say that more than 1,000 unexploded bombs left over from the war still litter the site.
– VnExpress

 

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Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

 

 

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