Asean Morning News For August 3

Asean Morning News For August 3

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Asean goes soft on China
The Association of Southeast Asian Nations (ASEAN) is seen to take a softer stand on China’s aggressive moves in disputed waters and to highlight instead the conclusion of negotiations on a framework of the Code of Conduct of Parties in the South China Sea (COC).
— The Philippine Star

ASEAN integration lags the real world
Any objective verdict on the achievements of the Association of Southeast Asian Nations in the last 50 years can only be mixed. Governments and public officials will say the glass is half full in assessing the organization, while non-governmental organizations and the private sector will declare it as half empty. Going forward, ASEAN has optimistic plans for further integration until 2025. The results could determine which view is right.
— Nikkei Asian Review

Time for ASEAN to Get Serious About Cyber Crime
Internet penetration and the rapid digitization of Southeast Asian economies have ushered in growing cybersecurity risks, whose trans-border nature requires inter-governmental collaboration. However, ASEAN countries have not been able to craft a multilateral framework to complement existing mutual assistance treaties. Whether ASEAN countries can achieve a collaboration mechanism against cyber crime will have profound implications for building regional cyber resilience and strengthening ASEAN’s global impact in its second 50 years.
— The Diplomat

ASEAN region to lose 70-90% of habitats by 2100 – report
The biological diversity or biodiversity in the ASEAN region, which is home to the “mega-diverse countries” of the Philippines, Indonesia, and Malaysia, will greatly be eroded by 2100 if the destruction of the environment continues unabated, a recently launched report by an intergovernmental organization revealed.
— Rappler

ASEAN to reaffirm ‘whole-of-nation’ approach vs terror, extremism
Foreign ministers of the Association of Southeast Asian Nations (ASEAN) will reaffirm the importance and effectiveness of the “whole-of-nation approach” over “a purely military option” in combating terrorism and violent extremism, an initial draft of their joint statement said.
— ABS-CBN

ASEAN remains an attractive investment magnet: RHB AM
ASEAN will remain an attractive international investment destination over the long term, given its many attractive qualities.
— New Straits Times

Asean markets range bound, Philppines rebounds
Philippine shares rose 1.5 percent on Wednesday, recovering from two consecutive sessions of fall, while other Southeast Asian markets were rangebound as investors digested the recent slew of economic data.
— The Star Online

ASEAN ministers’ joint statement expected to exclude PH arbitration win, Chinese incursions in South China Sea
Southeast Asian foreign ministers are expected to leave out the Philippines’ victory in the arbitration case against China and the latter’s island-building activities in the disputed South China Sea in their joint statement to be issued by the end of their upcoming Manila meet, a draft document reviewed by ABS-CBN News showed.
— ABS-CBN

The prestigious Asean Business Awards 2017
The ASEAN Business Advisory Council just concluded the search for the ASEAN Business Awards. On September, we will be announcing the latest batch of winners for ABA 2017.
— The Philippine Star

 

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov


Commerce Ministry Inks Rice Export Deal With Bangladesh

In a major deal that could boost Cambodia’s total rice exports by nearly 50 percent this year, local and Bangladeshi officials signed a deal aiming to move 1 million tons of rice over five years, the countries’ representatives announced on Wednesday.
— The Cambodia Daily (paywall)

Growth to Remain Robust Despite ‘Election-Related Uncertainty’, Says IMF
Cambodia’s economy is expected to grow by 7 percent in 2017 and 2018 despite disruptions due to “election-related uncertainty”, according to the International Monetary Fund (IMF).
— VOA Cambodia

Cambodia’s Microfinance Industry: Why Bigger May Not Be Better
An issue has been swirling around Cambodia’s microfinance circles for some months. Put simply, will poor Cambodians be able to use “movable assets” – motorbikes, cars, livestock or agricultural machinery, for example – as collateral on loans?
— The Diplomat

See here for more of today’s Cambodia Morning News 

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

China’s infrastructure diplomacy in Indonesia
As the lack of infrastructure is seen as a bottleneck for growth, nations throughout the world have made this their primary focus. The realization that developing countries face difficulties with this and need very much support has given rise to a new kind of diplomacy — infrastructure diplomacy.
— The Jakarta Post

Indonesia’s revenues from cigarette tax rise in first 7 months
Revenues from cigarette tax in Indonesia from January to July increased as the government aims to protect health of the public.
— Xinhua

Indonesia detains rice company official for alleged false labelling
Indonesian police have detained the chief executive of rice company PT Indo Beras Unggul (IBU), over allegations of false product labelling, police said on Wednesday, as the government moves to rein in prices of the staple.
— Reuters

See here for more of today’s Indonesia Morning News 

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

First Oil Refinery Expected to Be Completed Next Year
The construction of the first ever oil refinery in the Saysettha Comprehensive Development Zone, Vientiane is expected to be completed in mid-next year.
Lao News Agency 

Govt, EU negotiate to promote legal timber trade
The Lao timber sector has taken a further step towards improved accessing to the EU market, where the import and sale of timber obtained through illegal logging is prohibited by law by making available a revised definition for legal timber.
Vientiane Times 

Lao Officials Enrich Knowledge of Agricultural Processing
China’s Ministry of Commerce in cooperation with the China National Research Institute of Food and Fermentation Industries held a seminar on “Agricultural Processing” for technical staff of the Ministry of Agriculture and Forestry and the Ministry of Industry and Commerce ​between Aug 2-31 in Vientiane.
Lao News Agency

See here for more of today’s Lao Morning News 

 

Malaysia morning newsMalaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat


CMERP satellite lab to tackle malware threats in Malaysia

The Coordinated Malware Eradication and Remediation Project (CMERP) satellite laboratory worth RM7.4 million has been set up at Universiti Teknikal Malaysia Melaka (UTeM) to tackle malware threats in this country.
Astro Awani 

China money pours into Malaysian infrastructure projects
The Straits of Malacca have been a gateway for China for centuries in its quest for power.
The Star Online 

ADB raises US$1.25 billion to finance climate change mitigation and adaptation projects
The Asian Development Bank (ADB) has raised US$1.25 billion to help finance climate change mitigation and adaptation projects with the issue of dual-tranche 5-year and 10-year green bonds.
The Edge Markets 

See here for more of today’s Malaysia Morning News 

 

Myanmar morning newsMyanmar Morning News

Compiled by Sreypov Men    @MenSreypov

 

MP calls for quick delivery of rice and fuel to Tanai
A Tanai MP urged authorities to allow the immediate delivery of rice and machine oil to the township in Kachin State, which is facing difficulties in accessing the two commodities but a senior Tatmadaw official said there is no shortage of grain and fuel in the area.
— Myanmar Times

AMCHAM Myanmar Encourages U.S. Banks to Enter Myanmar Market
The American Chamber of Commerce in Myanmar (AMCHAM Myanmar) recently led a financial services business delegation to Yangon and Nay Pyi Taw consisting of 13 companies to meet with government representatives and local banks from July 24-26. The goal of the mission was to help U.S. financial institutions, including banks and insurance companies, get a better understanding of the local market and opportunities, as well as encourage them to enter the Myanmar market.
— Mizzima

Myanmar shuffles energy, finance officials amid slowing growth
Myanmar has replaced its minister for energy, state media reported on Wednesday, as Aung San Suu Kyi’s administration looks to address concerns that the enactment of vital reforms has been slow since she took power last year.
— Reuters

See here for more of today’s Myanmar Morning News 

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Auto sector to get ‘triple whammy’ from tax plan
On top of increasing excise tax on petroleum products and automobiles, the Duterte administration is also poised to impose higher registration fees for all motor vehicles, Senate President Pro Tempore Ralph G. Recto reported on Wednesday.
— Business Mirror

Government subsidies to GOCCs double to P32.31 B in June
Government subsidies to state-owned corporations amounted to P32.31 billion in in June, double the P16.05 billion recorded in June last year, data from the Bureau of the Treasury (BTr) showed.
— The Philippine Star

BIR tax take in Duterte’s first year up to P1.643 trillion
The taxes collected by the Bureau of Internal Revenue in the first year of the Duterte administration reached P1.643 trillion on the back of tax administration reforms introduced by the country’s biggest revenue agency.
— Philippine Daily Inquirer

See here for more of today’s Philippines Morning News 

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Singapore’s manufacturing sector expands for 11th straight month in July
Singapore’s manufacturing sector expanded for the 11th straight month in July, according to data released by Singapore Institute of Purchasing and Materials Management (SIPMM) on Wednesday (Aug 2).
Channel NewsAsia 

Work visa scheme for foreign entrepreneurs enhanced
THE EntrePass scheme – a work visa for foreign entrepreneurs keen to start a business in Singapore in areas such as deep technology – will be enhanced to attract global startup talent.
The Business Times 

New Payments Council to plot S’pore’s cashless drive
THE Monetary Authority of Singapore (MAS) has roped in representatives from several tech companies into its newly formed payments council, as its members look at how to build a cashless society in Singapore.
The Business Times 

See here for more of today’s Singapore Morning News 

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

GDP growth this year forecast at 3.5-4%
The Joint Standing Committee on Commerce, Industry and Banking forecast this year’s economic growth at 3.5-4% after the country enjoyed a 7.8% growth in exports the the first half of this year.
— Thai PBS

Housing lenders say NPL peak in sight
Bad housing loans are expected to peak this quarter as lenders’ tightened scrutiny and debt restructuring keep a lid on deteriorating assets, says the Housing Finance Association.
— Bangkok Post

Engineers highlight lack of local flood plans and warning systems
THE FLOOD crisis in Sakon Nakhon and other Northeastern provinces highlighted the need for local plans to handle disaster preparation and warning systems, the Engineering Institute of Thailand (EIT) urged at a press conference in Bangkok yesterday.
—The Nation

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov


Vietnam’s 4G population coverage hits 95%

Vietnam’s 4G networks now cover 95% of the nation’s population, attendees to the 4G LTE 2017 International Conference learned.
— Telecom Asia

Vietjet’s pre-tax profit rises by 45%
Vietjet Aviation Joint Stock Company (HOSE code: VJC) posted a pre-tax profit of US$84.7 million in the first half of 2017, a year-on-year rise of 45 per cent.
— Viet Nam News

Dairy firms to set own retail prices
Traders producing and importing milk and food supplements for children under 6 years old will be allowed to self-determine the retail prices for their products, the Ministry of Industry and Trade (MOIT) announced on Wednesday.
— Viet Nam News

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.

 

 

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