Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
June manufacturing PMI hits record low
Malaysia’s Nikkei Manufacturing Purchasing Manager’s Index (PMI) for June hit its lowest in five years since data for the index was first tracked in the country, falling to 46.9 from 48.7 in May, on lower output and a decline in new orders, raising concerns that the country’s manufacturing sector may deteriorate in the coming months.
— The Edge Markets MY
Southeast Asia now an attractive hunting ground for foreign asset managers
Southeast Asia has become a more attractive hunting ground for global asset managers, thanks to regulator-led developments in opening up its markets, according to Cerulli Associates (Cerulli), a Boston-based research and consulting firm.
— Asia Asset Management
PHL bats for bold, aggressive approach to drug problem in ASEAN
The Philippine Delegation to the ASEAN Inter-Parliamentary Assembly (AIPA) will be pushing for an aggressive and bold approach in dealing with the drug problem in the ASEAN region during the 13th meeting of the AIPA Fact-Finding Committee (AIFOCOM) at the Conrad Hotel in Pasay City from July 4 to 8.
— Philippine News Agency
ASEAN can use Philippine drug war as a guide, solon says
The Philippines can serve as a model for neighboring Southeast Asian nations in fighting illegal narcotics, according to a congressman, despite accusations of human rights violations in the key government campaign.
— The Philippine Star
Non-tariff measures limit PH capacity to trade in ASEAN
The proliferation of non-tariff measures among member-states of ASEAN has limited the capacity of the Philippines to trade with its neighbors, according to a study published by state think tank Philippine Institute for Development Studies (PIDS).
— Manila Bulletin
ASEAN+3 Regional Financial Safety Net And IMF: Time For Structured Cooperation – Analysis
The regional financial safety net (RFSN) that the ASEAN+3 countries have been establishing during the last two decades can only be successful if it evolves into a more structured form of cooperation with the IMF.
— Daily Advertiser
HARI foundation advocates for biodiversity preservation
Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), has partnered up with the ASEAN Centre for Biodiversity (ACB) to intensify efforts at preserving the ASEAN region’s rich but threatened biodiversity. The two signed a memorandum of cooperation (MOC) on March 30. The MOC strengthens global efforts to support biodiversity and the ASEAN member states in achieving their biodiversity conservation objectives.
— AutoIndustriya.com
Cambodia Morning News
Compiled by Leakhena Khat @leakhenakhat
Angkor Wat sees sales surge
Angkor Wat ticket sales revenue surged during the first half of 2017 on the back of a sharp increase in tourist entry fees, with no indication that the steeper admission prices had discouraged visits to the Kingdom’s top tourist draw, government officials said yesterday.
— The Phnom Penh Post
Cambodian, Chinese entrepreneurs meet to explore trade, investment opportunities
A business forum jointly held by Cambodia and China’s Dezhou city, was held here on Monday, aiming at further promoting trade and investment relations between Cambodia and China, officials said.
— Xinhua
White Building holdouts
More than 430 of the 493 families who formerly resided in Phnom Penh’s White Building have vacated the premises, but around 15 families have yet to accept compensation packages for their apartments, according to a Land Management Ministry official.
— The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Exclusive: Chinese investors eye Indonesia’s P2P lending marketplace Investree
Chinese investors are eyeing Indonesian online peer-to-peer lending marketplace Investree and have initiated discussions to invest in the company, according to three people aware of the development. If this deal goes through, it will be one of the first international investments in Indonesia’s fintech space, hinting at the beginning of a new trend.
— Deal Street Asia
Indonesia’s May foreign tourist arrivals rise 11.5%
A total of 938,623 foreign tourists visited Indonesia in May, up 11.5% from a year earlier, the statistics bureau said on Monday.
— Bangkok Post
Indonesia Achieves Top 25 Food Sustainability Index
The Agriculture Ministry revealed that Indonesia is among 25 countries with top food sustainability index list released by Barilla Center for Food and Nutrition Foundation (BCFN) and the Economist Intelligent Unit (EIU). The list was released following a report on Global Food Security Index.
— Tempo.co
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Cara Navarro @cara_nav
Workshop on E-Commerce to Drive Lao PDR Toward a Digitally-Enabled Economy
The ASEAN-Korea Centre will organise a Capacity Building Workshop for Expanding Business Opportunities in E-Commerce on 5 July 2017 in Vientiane, Lao PDR.
– Lao News Agency
Upgrade country’s statistics standards to make most of cooperation efforts, official says
Laos will have difficulties in the implementation of the United Nation’s Sustainable Development Goals (SDG) agenda as well as pushing the country to graduate from Least Developed Countries (LDC) by 2020 without accurate and timely statistics, a government official has stated.
– Vientiane Times
Laos-Vietnam Trade Reaches US$ 823 Million
The annual bilateral trade volume between the Lao PDR and Vietnam was recorded at more than US$820 million in 2016.
– Lao News Agency
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Leakhena Khat @leakhenakhat
MACC calls up five port officials over missing military equipment
THE Malaysian Anti-Corruption Commission will call up five top management officials of the Port of Tanjung Pelepas (PTP) in Johor over the release of a container with high-tech military radar equipment without following proper procedures.
— New Straits Times
Stronger economic growth for 2017
Economists in the private sector are upgrading their growth predictions for Malaysia, with many expecting the pace of the country’s economic expansion this year to exceed the Government’s own forecast, backed by strong foreign demand and solid domestic demand.
— The Star Online
A cheaper, chastened Lotte Chemical IPO returns to Malaysia
Lotte Group, South Korea’s fifth-biggest family-owned conglomerate, has cut the price range for a revived initial public offering of its Malaysian petrochemicals unit amid weaker investor appetite.
— Financial Times
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Cara Navarro @cara_nav
AccorHotels & LP Holding partnership brings three new hotels to Myanmar
AccorHotels and LP Holding have signed a joint agreement to develop three new hotels in Myanmar.
– The Economic Times
New Hantharwaddy airport to finalise plans in early 2018
Myanmar’s Department of Civil Aviation (DCA) is set to sign the final agreement for the construction of Hantharwaddy International Airport in early 2018, the agency’s deputy director general told The Myanmar Times.
– The Myanmar Times
KNU official solicits feedback on planned coal-fired power plant
Got a problem with coal-generated power? A Karen National Union leader is inviting feedback and complaints to be directed to his office as the ethnic armed group eyes giving the greenlight to a costly Thai- and Japan-backed venture.
– Burma News International
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Factory growth slips, still ASEAN’s best
IMPROVEMENT of factory activity in the Philippines slowed at the end of the second quarter, but still “signaled another strong expansion in June” that kept the country in Southeast Asia’s lead for the second straight month, according to the latest monthly survey which IHS Markit conducted for Nikkei, Inc.
— BusinessWorld Online
ADB establishing infra technical aid program
AN INFRASTRUCTURE assistance scheme providing technical expertise will be set up to aid in carrying out the government’s infrastructure programs, forming part of the Asian Development Bank’s (ADB) pledged $100-million loan to the government.
— BusinessWorld Online
Ex-BFP chief gets at least 60 years over P200K scam
Former Bureau of Fire Protection chief Francisco Senot and finance service unit chief Florante Cruz will have to serve 60 to 90 years in prison for stealing P192,023.73 from government funds.
— Philippine Daily Inquirer
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
SCCCI, Bank of China to give local firms a leg-up in China market
THE Singapore Chinese Chamber of Commerce and Industry (SCCCI) and the Bank of China have inked an agreement to help Singapore businesses make inroads into the China market.
— The Business Times
Singapore based fintech investment platform Fundnel establishes Australian headquarters in Adelaide
SINGAPORE fintech investment portal Fundnel will establish an Australian headquarters in Adelaide.
— The Advertiser
Singapore hospitals are losing foreign patients
Whilst Singapore still remains a compelling medical tourist destination, foreign patient growth may decelerate gradually as competitive pressures from neighbouring ASEAN countries grow.
— Singapore Business Review
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Combative PM says his future role |in politics is his ‘personal business’
PRIME MINISTER Prayut Chan-o-cha said yesterday that he had become “fed up” with the media asking whether he would contest the next general election. He maintained that it was his “personal business” to make a decision and that the media should not ask him again about it.
— The Nation
“Startup Thailand 2017” to kick off this week
he Ministry of Science and Technology is gearing up to organize “Startup Thailand 2017” later this week, with entrepreneurs from across the globe expected to take part in the event.
— NNT
Online traders will soon be taxed
The Revenue Department will propose the Finance Ministry to collect taxes from online traders after online business value is increasing and becoming popular.
— Thai PBS
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Cara Navarro @cara_nav
New policies take effect from July
Many policies concerning maritime, taxation, investment, insurance and Pangasius fish farming have taken effect from July.
– VietnamNet Bridge
Pork without traceable origin to be barred from Ho Chi Minh City markets
Ho Chi Minh City is looking to ban all pork without origin traceability from its markets, starting at the end of this month, a move expected to improve the municipality’s food safety records.
– Tuoi Tre News
Here are the most valuable brands in Vietnam, as listed by Forbes
Forbes Vietnam has released a list of the 40 most valuable brands in Vietnam, estimating their total value at $5.4 billion, a rise of 20 percent against last year.
– VnExpress
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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