Asean Morning News For August 29

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Thai stocks hit 2-month closing high, lead Southeast Asia peers
Most Southeast Asian stock markets rose on Monday as energy stocks gained due to disruptions from Hurricane Harvey that battered the US Gulf Coast, with Thailand closing at a two-month high as easing political tensions boosted sentiment.
— Bangkok Post

Inclusive business models are key to boosting ASEAN’s economic growth
More businesses in the ASEAN are now contributing to economic growth by providing income opportunities and relevant, affordable services and goods to low-income communities. These types of businesses, called inclusive business (IB), go beyond traditional corporate social responsibility (CSR) by integrating the poor in the core business as suppliers, distributors, consumers, and retailers.
— Markets Insider

Myanmar has potential to play more active role in ASEAN
To commemorate the 20th anniversary of Myanmar-ASEAN relations, Minister of State for Foreign Affairs U Kyaw Tin recently gave an exclusive interview to Kavi Chongkittavorn, editor-in-chief of The Myanmar Times, at his office in Nay Pyi Taw. He discussed a wide range of issues related to Myanmar’s role in ASEAN, the group’s decision-making process, implementation of plans, its ties with major powers and the group’s future.
— Myanmar Times

Fifty Years Of ASEAN: Between Assertion And Reinvention – Analysis
The Association of South East Asian Nations (ASEAN) hosted a series of annual multilateral forums between its member states and with other regional partners in Manila, Philippines, from 3-8 August 2017. These included the ASEAN Foreign Ministers’ Meeting (AMM), ASEAN Plus Three (APT) Summit, ASEAN Regional Forum (ARF), and the East Asia Summit (EAS) Foreign Ministers’ Meeting.
— Eurasia Review

Asean to face five mega challenges in next 50 years – Nazrin
As Asean celebrates its 50th anniversary, keeping peace at the centre of the regional grouping’s purpose is among the five mega challenges that it is facing and continues to face in the next 50 years, says the Sultan of Perak, Sultan Nazrin Shah.
— The Borneo Post

ASEAN Automotive Aftermarket CAGR Projected to Grow at 9.6%Through 2026
In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN.
— openPR (media release)

Japan’s Maritime Diplomacy Mission in Southeast Asia
In light of China’s growing maritime assertiveness, Japan’s imperative to protect its surrounding waters is now even greater.
— The Diplomat

Asia’s ‘smartphone economy’ boosts 2017 growth forecasts
The Japan Center for Economic Research announced on Aug. 28 its “Sixth Asia Economic Short-Term Forecast” highlighting China and four core ASEAN countries: Indonesia, Thailand, Malaysia and the Philippines.
— Nikkei Asian Review (paywall)

ASEAN-China experts meet in Manila on DOC
Experts from the Philippines along with those from other Association of Southeast Asian Nations (ASEAN) member-states and China are meeting in Manila this week to build on the gains that have been achieved so far in efforts to build peace and stability in the South China Sea.
— Manila Bulletin

Asean needs to leverage collective unity when joining trade pacts: experts
Member-economies of the Association of Southeast Asian Nations need to tap into the strengths of their united front to achieve bigger objectives and ensure more favorable outcomes, such as when joining free trade agreements (FTAs) beyond Asean, according to economists who gathered in Manila recently.
— Malaya

Cambodia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

NUS Study: Cambodia Deforestation Increases Child Health Issues
A team of researchers at the National University of Singapore (NUS) has found that the loss of dense forest in Cambodia is associated with higher risk of diarrhea, acute respiratory infection, and fever in children.
— AEC News Today

Shuttered Cambodia Radio Stations Appeal to Government For Reinstatement
Five of nearly 20 independent Cambodian radio stations shuttered last week after airing programs critical of Prime Minister Hun Sen’s government appealed to the Ministry of Information on Monday for permission to reopen, pledging to follow the terms of their licensing agreements.
— Radio Free Asia

Government lays out three-year plan for $5.4B public investment
Cambodia will need to spend about $5.4 billion on public investment over the next three years to maintain its economic growth while reducing poverty, according to a draft outline of the government’s three-year programme for public investment.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Rama Ariadi @AriadiRama

Indonesia Still Haunted by Asian Financial Crisis Ghosts
The Asian financial crisis triggered the collapse of political and economic institutions that had delivered remarkable growth for 30 years. Rebuilding these institutions and a sound economic framework — albeit redesigned for a middle-income democracy — remains a challenge today.
— AEC News Today

Newest Navy Submarine from Korea Arrives in Surabaya
In accordance with the Navy’s strategic plan, Indonesia will be equipped with a total of 12 submarines to strengthen its navy fleet.
— Tempo (EN)

Thousands of ATMs go down in Indonesia after satellite problems
Around 15,000 ground sites across Indonesia were affected by the problem on the ’Telkom-1’ satellite, whose service is used by government agencies, banks, broadcasters and other corporations
— Reuters

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Laos: Banana exports drop due to tightened regulations
The export value of bananas in Laos during the first six months (Q1 and Q2) of this year decreased compared to the same period last year and is expected to decline further.
— Fresh Plaza

Gov’t Sets an Ambitious Plan to Export at least 30,000 M3 of Timber by 2020
The government has set an ambitious plan to increase the annual export of timber and teak products to China, Thailand and Vietnam to at least 30,000 cubic meters by 2020.
— Lao News Agency

Plans put in action to turn Laos into a land link, Asian editors told
Laos has taken steps to pursue its plan to build a railway network that will connect the landlocked country with its neighbours, the rest of the region and the world, railway authorities told visiting news editors from Asian countries.
— Vientiane Times

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Customs: Malaysia not the only transit point for wildlife smuggling
Malaysia is not the only transit point in South-East Asia being used by international syndicates to smuggle wildlife, says Customs Department director-general Datuk Seri Subromaniam Tholasy (pix)
— The Star Online

RAM: Malaysia rides on electronics cyclical rebound, firmer commodity prices
The export-oriented economies of Malaysia Japan, South Korea, Singapore, Thailand and Vietnam are riding on the cyclical rebound in electronics and firmer commodity prices, said RAM Rating Services Bhd.
— The Edge Markets

Japan courts Singapore in bid for High-Speed Rail project to KL
Japan is pulling out the stops in making a pitch to Singapore for the proposed High-Speed Rail (HSR) project to Kuala Lumpur.
— Channel News Asia

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Sreypov Men @MenSreypov

Government to finalise oil spill contingency plan by 2018
The government is expected to finalise a national oil contingency plan by the end of 2018, said Department of Marine Administration’s director U Ko Ko Naing.
— Myanmar Times

Pope throws support behind Muslim Rohingya
Pope Francis has stepped up his support of Myanmar’s ethnic Muslim Rohingya people amid further violence in their home province in the nation’s west, as he officially announced his visit to the strife-torn fledgling democracy and neighboring Bangladesh in November and December.
— UCA news

Maturing Myanmar: Is Business Still Confident?
Early excitement has been dampened, but opportunities for optimism remain, despite many challenges.
— The Diplomat

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Philippines says will lift one-month Uber suspension if $3.7m fine paid
The Philippine transport regulator said on Friday it would lift a one-month suspension on Uber Technologies Inc if it paid a penalty of 190 million pesos ($3.7 million), a fine nearly 20 times greater than Uber had offered to pay.
— Deal Street Asia

Cost of Mega Manila Subway to reach $6 billion-$8 billion if built now
THE Mega Manila Subway is expected to cost more than initially expected as the government wants to complete the project by the end of President Duterte’s term, the National Economic and Development Authority (Neda) said.
— Business Mirror

Top Growth Opportunities: Dairy & Soy Food in the Philippines
Philippines ranks as one of the smallest market in the global Dairy & Soy Food sector in terms of per capita expenditure in US$ terms, though larger than China and Indonesia. Though population rates and disposable income are increasing in the country, the Filipino Dairy & Soy Food market currently does not see a comparatively large average spend.
— Markets Insider

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Presidential Election 2017: Polling Day set for Sep 23, Nomination Day on Sep 13
The Presidential Election has been set for Sep 23 if more than one person qualifies to run for the position.
— Channel NewsAsia

Singapore’s Home Sales Recovery Is Down to the Locals
After years of declines, Singapore’s home sales are on a roll, even as purchases by foreign buyers have remained muted.
— Bloomberg

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Export growth goal rises to 7%
Thailand has officially revised up its 2017 export growth target to 7% from a previous forecast of 5% after witnessing strong growth over the last few months, says Deputy Prime Minister Somkid Jatusripitak.
— Bangkok Post

Bt30-bn infrastructure plan for South
AN INVESTMENT worth more than Bt30 billion from the government and private sector is intended to develop both infrastructure and industry in three southern provinces of Thailand, including Pattani, Yala, and Narathiwas.
— The Nation (annoying popups)

Thai Police say Interpol has Issued Red Notice for Red Bull Heir Vorayuth Yoovidhya
Interpol has issued an international request for the arrest of the billionaire heir to the Red Bull energy drink fortune, stepping up of the hunt for the fugitive Thai playboy wanted in a 2012 hit-and-run incident that left a traffic policeman dead in Bangkok.
— Chiang Rai Times/ AP

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam FDI inflows up 5% to $10.3bn this year
Vietnam received an estimated US$10.3 billion in foreign direct investment (FDI) inflows in January-August, up 5.1% from the same period in 2016, the government said on Monday.
— Bangkok Post

Việt Nam to export dragon fruit to Australia
Australia last week announced that it would permit the import of Vietnamese dragon fruit, making Việt Nam the first country to get licence to export fresh dragon fruit there.
— Viet Nam News

51 bankers, businessmen on trial in Vietnam for fraud
A former banking magnate and 50 others went on trial in Vietnam Monday over a multi-million dollar fraud at a major private bank, as the communist nation cracks down on corruption in the sector.
— Channel NewsAsia

See here for more of today’s Vietnam Morning News

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.