Asean Morning News For July 20

Asean Morning News For July 20

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

ADB invests in Thai IPP planning renewables expansion
The Asian Development Bank (ADB) is supporting the plans of Thai firm B. Grimm Power Public Company (SET:BGRIM) to diversify its energy mix and invest more in renewables with loans and an equity investment.
— Renewables Now (subscription)

ASEAN must nurture transformative trait
Without hesitation: ASEAN has mattered. Absent ASEAN, countries in Southeast Asia could have continued to be encumbered by deep divisions, distrust and animosity.
— The Jakarta Post

Asean boom, strong tie-ups fuel E&O’s growth
THE Asean region presents immense opportunities for Kuala Lumpur-based premier lifestyle property development group Eastern & Oriental Berhad (E&O), as populations in the region become increasingly affluent and the emerging middle class continues to burgeon.
— The Business Times

Singapore offers Manila drones, urban warfare training
Singapore said today it has offered surveillance drones and urban warfare training to Philippine troops battling Islamist fighters, to prevent the militants becoming entrenched and threatening the rest of Southeast Asia.
— Daily News & Analysis

Fuxing high speed trains restore confidence in Chinese tech at home and abroad
Passengers on the brand-new high-speed Fuxing train – whose name literally means renaissance – which has started running between Beijing and Shanghai took to social media to rave about their experience.
— Global Times

Asian Financial Crisis: The Growing Pains of the Tiger Cub Economics
History serves as a good lesson for all, setting a precedent for future generations. The Asian Financial Crisis of 1997 was one lesson that had colossal economic and political implications, where its after-effects are still being felt today. With the 20th anniversary of the crisis looming, this article serves as a reminder to all of the mistakes of the past.
— The Market Mogul

‘Asean must uphold centrality in China’s initiative’
Although Asean stands to benefit greatly from China’s Belt and Road Initiative (BRI), experts say the region must also balance the welcomed infrastructure investment with its principle.
— The Borneo Post

Asean markets up ahead of corporate results
Most Southeast Asian stock markets rose on Wednesday, in line with Asia, as investors shrugged off concerns about an immediate interest rate hike by the US Federal Reserve and turmoils at the White House to focus on upcoming corporate results.
— The Star Online

ASEAN to be cooperation focus of JICA
President of the Japan International Cooperation Agency (JICA) Kitaoka Shinichi discussed cooperation plans between JICA and ASEAN countries, especially in infrastructure, in a recent interview with reporters from the bloc on the occasion of celebrating its 50th founding anniversary.
— Vietnam Plus (press release)

Supachai worries over threat of monopoly from tech giants
SUPACHAI Panitchpakdi, former director-general of the World Trade Organisation (WTO), is worried about the way that technology giants like Alibaba, Facebook, Google and Apple do businesses, warning that their opaque practices could lead to monopolies in local and global economies.
— The Nation

Companies view Asean with renewed optimism
A GROWING middle income class. Increasing regional integration. Strong economic growth. These are some factors that are making South-east Asia an increasingly attractive investment destination. Deloitte’s Global Manufacturing Competitiveness Index last year noted that by 2020, Malaysia, Indonesia, Thailand, India and Vietnam are expected to rank among the top 15 countries in terms of manufacturing competitiveness.
— The Business Times

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Rubber exports bounce higher
Cambodian rubber exports surged 37 percent during the first half of the year, compared to the same period in 2016, as the Kingdom’s rising harvest capacity coincided with firmer global demand for rubber products.
The Phnom Penh Post

Global Fund to give 98 mln USD to Cambodia for 3-year fight against epidemics
The Global Fund will give 98 million U.S. dollars in grant to Cambodia for fighting AIDS, tuberculosis and malaria from 2018 to 2020, a senior Cambodian official said on Wednesday
Xinhua

Push to draw up Cambodia-Thai tax treaty
Representatives from the tax authorities of Cambodia and Thailand have agreed in principle to speed up a proposed double taxation agreement that would protect their nationals from dual taxation and encourage bilateral investment.
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 Struggles to Fire Up Its Economy
Indonesia is at an impasse with the central bank and the government running out of policy space to fire up the economy.
— Bloomberg

BNI Syariah disburses Rp 168b loan for new Transjakarta buses
The sharia subsidiary of state lender Bank Negara Indonesia (BNI), BNI Syariah, has disbursed a loan of Rp 168 billion (US$12.62 million) to operators of the Jakarta-owned bus management company, PT Transportasi Jakarta (Transjakarta), to procure additional vehicles.
— The Jakarta Post

Bali tourism numbers from Australia: Indonesia is still our number one destination
In 2016, 1.248 million Australians visited Indonesia. That’s an increase of 11 per cent over the previous year, and up by a massive 546 per cent over the decade since 2006, outpacing the growth over the same period for every other destination on the list of the most popular countries among Australian travellers.
— Traveller

See here for more of today’s Indonesia Morning News 

 

Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro    @cara_nav

 

Govt to Spend Millions US Dollar for Improving Loading Services of Vung Ang Port
Lao government will inject almost US$300 million in the improvement of the loading services at Vietnam’s Vung Ang Port from 3 million tonnes to 12 million tonnes.
Lao News Agency

Lao provinces organise HCMC investment conference
Three central Laos provinces, Savannakhet, Khammouane, and Bolikhamxay, sought investment in many sectors at a conference held in HCM City on Wednesday.
Viet Nam News

PM vows steadfast support for Lao growth
Prime Minister Nguyễn Xuân Phúc pledged yesterday that Viet Nam would continue backing Laos’s nation-building efforts in the face of all difficulties.
Viet Nam News

See here for more of today’s Lao Morning News 

 

Malaysia morning newsMalaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Malaysian ports’ prospects to remain healthy
RAM Rating Services Bhd (RAM Ratings) expects the container- and cargo-handling prospects of Malaysian ports to remain healthy this year, in line with the gradual global economic recovery.
The Star Online

Ministry to study flexible road tax payment system
The transport ministry is keen on eventually having a flexible road tax payment system based on a motorist’s driving statistics following the recent liberalisation of motor insurance tariffs.
Free Malaysia Today

Iskandar Malaysia fails to shine even with significant investments from Singapore
Singaporean investment of RM19 billion (US$4.4 billion) has been poured into the Iskandar Malaysia project since its launch in 2006. The developers behind the huge manufacturing and services complex hope it will be “Malaysia’s Shenzhen” by 2025.
Asean Today

See here for more of today’s Malaysia Morning News 

 

Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro     @cara_nav

 

Remembering modern Myanmar’s founding father
Car horns blared in the streets of Myanmar’s most populous city at 10:37 a.m. Wednesday, 70 years to the day that independence leader Gen. Aung San was gunned down as the nation stood on the brink of achieving his dream.
Nikkei Asian Review (paywall)

Time to switch to natural gas to protect the earth
Resident Trump’s decision to withdraw the USA from the landmark Paris climate accord must not become a distraction from urgent global efforts to combat climate change.
The Myanmar Times

Tourism law in parliament
Myanmar Tourism Federation says the country’s new tourism draft law has already been submitted to parliament and it is expected to be enacted this year.
TTR Weekly

See here for more of today’s Myanmar Morning News 

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Customs collections up 21% to P211.8B in first six months
The Bureau of Customs posted a measly increase in its collection of import duties and other taxes in June, thus missing its target for the month.
— Philippine Daily Inquirer

Crackdown still on, but LTFRB in a rush to OK 11K cars
The Land Transportation Franchising and Regulatory Board (LTFRB) held a technical working group meeting on Wednesday with transport network companies (TNCs) but stood firm on its decision to push through with its July 26 crackdown on thousands of app-based drivers who will remain “colorum.”
— Philippine Daily Inquirer

Philippines: Chelsea Logistics all set for $1.5m IPO
Chelsea Logistics Holding Inc has received the approval of the Philippine Stock Exchange (PSE) for its $1.5 million (P8 billion) initial public offering (IPO).
— Deal Street Asia

See here for more of today’s Philippines Morning News 

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Land Constrained Singapore to Study Underground and High-Rise Data Centers
Singapore government has agreed to fund a research project by a local data center provider and a Chinese hardware vendor on designing and building underground and high-rise data centers, as the small island nation’s outsize data center industry faces a future marked by land shortages.
Data Center Knowledge

Chinese fintech giant Lufax chooses Singapore for new platform
Ping An Group’s Lufax, China’s second-largest marketplace lender, has been planning to launch a wealth management platform since last year, and it’s now chosen Singapore for the venture.
Business Insider

Coca-Cola opens S$79m storage, distribution centre in Tuas
Coca-Cola on Wednesday (Jul 19) unveiled a new US$57.5 million (S$79 million) storage and distribution centre in Singapore that leverages on automation and technology.
Channel NewsAsia

See here for more of today’s Singapore Morning News 

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Thai general, provincial politicians held guilty in major trafficking trial
An army general, two provincial politicians and police officers were among the 46 people held guilty on Wednesday by a judge in Thailand’s biggest human trafficking trial, from a total of 103 defendants, with judgments expected to run late into the day.
— Channel NewsAsia

KBank introduces world’s first blockchain-based letter of guarantee service
Kasikornbank (KBank) has developed its Letter of Guarantee (L/G) service in the L/G market worth Bt1.35 trillion with the introduction of the world’s first blockchain-based L/Gs.
— The Nation

Police in Red Bull scion case face probe
The National Anti-Corruption Commission (NACC) has formed a panel to probe police officers who allegedly assisted Red Bull scion Vorayuth Yoovidhya in evading charges in connection with the hit-and-run case in which a policeman died five years ago.
— Bangkok Post

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro    @cara_nav

 

Mekong Delta faces troubling sand shortage
Provinces in the Mekong Delta have run out of sand for construction at a time when many key infrastructure works are in progress.
Viet Nam News

Can Tho seeks investors in 27 projects
Can Tho city is calling for investment in 27 projects worth a total of $1.4 billion, according to the Mekong Delta city’s Investment and Trade Promotion Center.
Vietnam EconomicTimes

Việt Nam to have more wholly foreign-owned bank
The State Bank of Việt Nam (SBV)’s Governor Lê Minh Hưng on Wednesday gave approval in principle to the Singapore’s United Overseas Bank Limited (UOB) to open a 100-per cent foreign owned bank in Việt Nam.
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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