Asean Morning News For August 4

Asean Morning News For August 4
Estimated Reading Time: 9 minutes |

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Asean sees 118 M&A deals worth $14.7 bn in Q1

A TOTAL of 118 merger and acquisition deals worth US$14.7 billion (Bt489 billion) were recorded in the first quarter of this year, sustaining the momentum of the past year, according to the 13th issue of “Asean connection: Cross-border M&A” by Kroll, the global leader in risk mitigation, response solutions and M&A market.
— The Nation

Sinking feeling for Asean fisheries
Escalating tensions over fishing rights in the South China Sea may be a harbinger of stormy seas ahead as more of Southeast Asia’s trawler fleet casts its half-empty nets in contested waters.
— Asia Times

Vietnam wins bulk of NFA rice import order
THE National Food Authority (NFA) has awarded contracts for the supply of 250,000 metric tons (MT) of rice mostly to suppliers from Vietnam, with the shipments intended to supplement buffer stocks for the lean season.
— BusinessWorld Online

SE Asia Stocks-Flat to down on profit-taking; Philippines gives up early gains
Southeast Asian stock markets were flat to down on Thursday as investors locked in gains after the Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history.
Political tensions after U.S. President Donald Trump signed the Russia sanctions bill also weighed on investor sentiment.
— Reuters

Commentary: 50 years on, is ASEAN a community?
As ASEAN celebrates its 50th anniversary, it is instructive to ask whether the grouping has achieved its primary goal of creating an ASEAN community. Barry Desker discusses ASEAN’s track record and challenges.
— Channel NewsAsia

Dominguez eyes approval of RCEP this ‘17
Finance Secretary Carlos Dominguez III is optimistic that the proposed 16-nation Regional Comprehensive Economic Partnership (RCEP) will be approved this year.
— Philippine News Agency

Asean members urged to affirm commitments
The Association of Southeast Asian Nations (Asean) should reconsider its consensus-based approach to resolving issues and work on presenting a unified front to address emerging challenges.
— The Manila Online

Asean test ground for democracy, dictators
Much is being discussed in Southeast Asia this month as Asean, the region’s premier organisation, reaches its golden jubilee. One salient issue is the domestic politics and governance within individual…
— Bangkok Post

Asean, India ministers aim to bridge gaps for trade pact
MINISTERS from Asean countries and India plan to work together to resolve key issues related to a proposed regional free-trade pact when they meet next month in Manila, Commerce Minister Apiradi Tantraporn said yesterday.
— The Nation

PH proposal on commercial use of SCS dropped from code framework
The Association of Southeast Asian Nations (ASEAN) and China omitted from the framework of a pending rules code on the South China Sea – a proposal by the Philippines to protect commercial and non-military activities in the disputed waters.
— CNN Philippines

U.S. expects ASEAN to isolate North Korea
The United States said it expects the Association of Southeast Asian Nations (ASEAN) to isolate North Korea during the ASEAN Regional Forum (ARF) scheduled in Manila.
— Rappler

PH entrepreneurs in wellness, beauty urged to tap Asean market
This September, all roads will lead to Bangkok for a beauty bonanza—an event which could serve as a launchpad for Filipino businesses looking to penetrate the beauty and cosmetics market not just in Thailand, but in the whole of Southeast Asia.
— Philippine Daily Inquirer

 

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Cambodia jails Australian nurse running ‘rent-a-womb’ business
An Australian nurse who managed a surrogacy clinic in Cambodia that matched foreign couples with local women was sentenced to 18 months in prison Thursday, as authorities in the impoverished kingdom tackle the “rent-a-womb” businesses.
— New Straits Times

NGO Facing Expulsion Praised for Programs
Long time residents of Phnom Penh’s once-notorious Svay Pak neighborhood say an NGO facing imminent closure on orders from Prime Minister Hun Sen was a boon to their small community and they had mixed feelings about its pending demise.
— The Cambodia Daily (paywall)

Prey Veng officials halt sand export to Vietnam
Prey Veng provincial authorities intercepted sand being stored in two facilities that was allegedly destined for Vietnam, but the smugglers were let off the hook with a warning.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News 

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesia Commissions First Attack Submarine in 34 Years
The Indonesian Navy (Tentara Nasional Indonesia – Angkatan Laut) has commissioned its first attack submarine in over three decades this week.
— The Diplomat

Indonesia: Emtek pours $25.8m into VCs in H1, reveals minority investment in Grab
Emtek Group, one of Indonesia’s largest media conglomerates and among the most active startup investors, is said to have made a minority investment in ride-hailing app Grab Inc even as it injected Rp 344 billion ($25.8 million) into “several VC firms” during the first half of 2017.
— Deal Street Asia

Indonesia’s Palm Oil with the World Best Quality Given to Dismiss EU Resolution
Indonesia’s Trade Minister Enggartiasto Lukita has assured Russian businessmen of the high quality of Indonesias palm oil products. “I guarantee that Indonesia’s palm oil quality is the best in the world,” Enggartiasto stated at the opening of Indonesia-Russia palm oil business forum in Moscow on Thursday.
— Netral News

See here for more of today’s Indonesia Morning News 

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

UNICEF committed to supporting breastfeeding in Laos
The United Nations Children’s Fund (UNICEF) has pledged to attach greater importance to breastfeeding promotion efforts in Laos, the Lao News Agency (KPL) reported on Thursday.
Xinhua

Parliaments of Laos, Cambodia, Vietnam vow to push development
Representatives of the national assemblies of Cambodia, Laos and Vietnam (CLV) were discussing parliamentary cooperation for the triangle development area in the Lao capital of Vientiane.
Xinhua 

Plain of Jars ready for submission for UNESCO certification next year
L aos will make a submission to UNESCO to include the Plain of Jars in Xieng Khuang province on the world heritage list early next year after the government approves related documents by the end of this year.
Vientiane Times 

See here for more of today’s Lao Morning News 

 

Malaysia morning newsMalaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Malaysia central bank urged to reopen probe on indebted fund
Malaysian opposition lawmakers urged the central bank Thursday to reopen its investigation into indebted state investment fund 1MDB that is being probed in several countries for money laundering and implicating Prime Minister Najib Razak.
NewsObserver 

Government targeting RM2.8 billion medical tourism revenue by 2020
The government is targeting to generate revenue of RM2.8 billion by 2020 through the health tourism sector, said Deputy Health Minister Datuk Seri Dr Hilmi Yahaya.
Astro Awani 

Lazada Malaysia to expand automotive products range
Lazada Malaysia aims to expand the range of products under its automotive segment within two years, said chief executive officer, Hans-Peter Ressel.
The Star Online 

See here for more of today’s Malaysia Morning News 

 

Myanmar morning newsMyanmar Morning News

Compiled by Sreypov Men    @MenSreypov

 

Myanmar’s stakes in two Belt and Road economic corridors
The country’s involvement in the two economic corridors reflects its unique geopolitical role in bridging China and South Asia as well as fostering integration of the ASEAN bloc.
— Myanmar Times

Singapore Myanmar Investco Limited (SGX:Y45): A Look at the Margin Score
Investors considering positions in Singapore Myanmar Investco Limited (SGX:Y45), might be interested in the Gross Margin Score of the company. The shares currently have a score of 60.00000.
— Buckeye Business Review

Myanmar rejects to establish trade zone at Tamu Border with India
The Myanmar Government has rejected to establish a trading zone in Tamu, which is on the Myanmar-India border, due to the insufficient basic requirements and the poor potential of trading.
— Business Standard

See here for more of today’s Myanmar Morning News 

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

PH proposal on commercial use of SCS dropped from code framework
The Association of Southeast Asian Nations (ASEAN) and China omitted from the framework of a pending rules code on the South China Sea – a proposal by the Philippines to protect commercial and non-military activities in the disputed waters.
— CNN Philippines

Singaporean firm bullish on PH despite uncertainties
As ASEAN economies continue to integrate, Singaporean companies remain bullish over the Philippines, despite security concerns and corruption allegations in government agencies.
— ABS-CBN (video)

8 of 15 killed in Ozamiz raid test positive for gunpowder
Eight out of the 15 persons killed in the bloody anti-drug raid in Ozamiz City last July 30 were found positive for gunpowder nitrates in the PNP Region 10 Crime Laboratory paraffin test.
— Update Philippines

See here for more of today’s Philippines Morning News 

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Insurance can help Asia cut economic losses from disasters: MAS chief
WITH the increasing frequency and severity of natural catastrophes striking Asia, the region needs to close the wide protection gap through insurance to lower the financial impact of natural disasters and raise disaster resilience, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).
The Business Times 

Singapore: LogMein Inc acquires Nanorep, UOB-backed OurCrowd exits
Nasdaq-listed LogMein Inc has agreed to acquire Israel-based Nanorep, a provider of self-service, virtual assistants and smart bot solutions for customer service and e-commerce, for a consideration of $45 million. This will pave the way for an exit for investors like UOB-backed OurCrowd, iAngels, JAL Ventures, and Oryzn Capital.
Deal Street Asia 

Singapore Property Market Is ‘Bottoming Out,’ Says Biggest Developer’s CEO
Singapore’s biggest developer, CapitaLand Ltd., detects signs that the city’s residential property market is “bottoming out” after a run of price declines, Chief Executive Officer Lim Ming Yan said.
Bloomberg 

See here for more of today’s Singapore Morning News 

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Passenger traffic at major airports slows
Passenger traffic experienced slower growth at six major airports in Thailand in the first half but remained healthy by global standards.
— Bangkok Post

WARNING: ‘Most dangerous’ Android malware targeting UK, Australia and Singapore bank customers
People who use online banking apps are being warned about a dangerous new form of Android malware.
— The Nation

Horrifying Video: Man Eaten Alive in Thailand Buddhist Temple
Horrifying video has emerged of a Thai man being eaten alive by a bear at a Buddhist temple in Phetchabun Province in north-central Thailand.
— AEC News Today

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov


VN farm exports have big potential

As an important trading with a strong agriculture sector, Vi?t Nam has great potential to become a strategic exporter of agricultural products to the Republic of Korea (RoK), Hong Sun, vice chairman of the Korean Chamber of Business in Vi?t Nam, tells Vi?t Nam News reporter Nguyen Phuong Thao
— Viet Nam News

Vietnamese shrimp exporters struggle to compete in US
The US Department of Commerce (DOC) has announced its decision to adjust antidumping duty on Vietnamese shrimp exported to the US between February 1, 2013 and January 31, 2014 from 1.16 percent to 1.42 percent.
— VietnamPlus

Repsol suspends oil project in disputed sea off Vietnam
Spanish oil giant Repsol said it has suspended a multi-million-dollar oil exploration project in an area of the South China Sea off Vietnam claimed by both Hanoi and Beijing, amid reports of a spike in tensions between the communist neighbours.
— The Business Times

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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