Asean Morning News For June 1

Asean Morning News For June 1

Asean morning newsAsean Morning News

Compiled by AEC News Today    @aecnewstoday

 

ASEAN exports and consumption are up, but for how long?
One weekend in late May, car dealerships in Singapore’s Queenstown were packed with families and middle-aged couples hunting for new cars. Brochures in hand, a 50-year-old businessman had been visiting showrooms of upscale brands such as BMW and Volvo, looking for a second auto.
– Nikkei Asian Review

Building the future in Asean and South Asia
Asean and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact. Roads, railroads, bridges, ports and metros. All this construction is transforming the city centres and areas of economic activity, and the lives of 2.4 billion people.
– The Straits Times

Cambodia: Asean parliamentarians call for transparent, fair and peaceful election
ASEAN Parliamentarians for Human Rights (APHR) have called for an end to intimidation, threats and violence against political opposition ahead of Cambodia’s council commune elections scheduled for June 4.
– Asian Correspondent

India Says ‘No’ to Australia’s Participation in Asia’s Largest Naval Exercise
For the second time since 2007, India has turned down Australia’s request to participate in Asia’s largest multinational naval wargames — Exercise Malabar — out of fear of distressing China.
– Telegiz

Mobile payments are catching on strong in Southeast Asia
Cash is still king in Southeast Asia, but may be dethroned sooner rather than later as the region embraces the cashless society using smartpones tied to mobile payment systems.
– Nikkei Asian Review

HK-based edtech start-up raises funds for expansion into SE Asia
Snapask, a Hong Kong-based education-technology start-up, has raised US$5 million (Bt170 million) in pre-series A venture funding to expand its mobile education business into Southeast Asia, Australia and the United Kingdom.
– The Nation

Developing the Five Power Defence Arrangements
The Five Power Defence Arrangements (FPDA) is a low-profile but important regional security institution established in 1971 between Australia, Malaysia, New Zealand, Singapore and the United Kingdom in the wake of the latter’s withdrawal of most of its military forces from “East of Suez”.
– The Straits Times

Joint NZ/Indonesia Statement on Defence Relations
Joint Statement Between the Ministry of Defense of the Republic of Indonesia and the Ministry of Defence of New Zealand on Defence Relations
– Scoop

 

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Cambodia morning newsCambodia Morning News

Compiled by Paul Treacy    @PaulTreacyPhoto

 

Record IPO nets $27M for Sihanoukville port operator
The initial public offering of the state enterprise that operates Cambodia’s largest seaport was fully subscribed, raising nearly $27 million for the purchase of land and equipment for expansion, the IPO’s underwriter said yesterday.
The Phnom Penh Post

Government to Endorse National Organic Produce Standard
The Agriculture Ministry will soon adopt a national standard for organic vegetable production to create product consistency and a single yardstick for farmers to work toward, according to officials.
The Cambodia Daily (paywall)

Rights Group, Diplomats Call on Cambodia to Stop Threats of Violence Ahead of Elections
A human rights intervention group of parliamentarians from Southeast Asia and members of the diplomatic community called on Cambodia’s ruling party on Wednesday to stop threatening violence ahead of nationwide commune council elections and expressed concern about the government’s plan to deploy armed forces on election day.
– RFA

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Indonesia morning newsIndonesia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Freeport Wants Assurance of Investment Stability
Energy and Mineral Resources Ministry official Tagih Pamudji said that mining company Freeport Indonesia wants assurance that the government issue a regulation (PP) on investment stability.
Tempo 

Ministry turns to technology to increase transparency
The Energy and Mineral Resources Ministry has launched on Wednesday two online platforms, which are expected to help increase information accessibility of the sector and monitor the ministry’s budget.
The Jakarta Post 

Rise of e-banking leads banks to prepare less cash for Idul Fitri
An increased use of electronic banking services has led state-owned lenders Bank Mandiri and Bank Rakyat Indonesia (BRI) to prepare lesser amounts of cash ahead of Idul Fitri celebrations, compared to last year.
The Jakarta Post 

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Lao PDR morning newsLao PDR Morning News

Compiled by Paul Treacy    @PaulTreacyPhoto

 

Laos Simplifies Tourist Arrival Process
Lao Government has removed several steps of filling in forms for tourist arrival in Laos to promote and attract more tourists and form a better regional and international links.
Lao News Agency

Six bidders considered for Vientiane-Pakxe expressway development
Four foreign and two Lao companies have been shortlisted to compete for the development of the planned Vientiane-Pakxe expressway, an official in charge has said.
Vientiane Times

Lao PDR to Adopt Green Growth, with World Bank Support
Lao PDR is adopting key policy reforms to make its strong economic growth benefit more people, especially the poor and disadvantaged, while protecting the environment, supported by a new US$38.6 million credit which was approved today by the World Bank’s Board of Executive Directors.
— SatPRnews

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Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Malaysia to set up task force to improve ranking in World Competitiveness Yearbook
Malaysia will establish a task force, comprising representatives from the public and private sector, to improve its ranking in the World Competitiveness Yearbook (WCY), said the Ministry of International Trade and Industry (MITI).
New Straits Times 

Malaysia Stays Among Top 25 Most Competitive Economies
Despite the external and domestic headwinds, Malaysia retained its position among the top 25 competitive nations, coming in 24th out of 63 countries in the World Competitiveness Yearbook 2017 (WCY) published by the Swiss-based Institute for Management Development (IMD).
Malaysian Digest 

Malaysia slips 5 spots in global competitiveness rankings
Malaysia was among the Asian economies which dropped in its competitiveness rankings due to the challenging external environment last year.
New Straits Times 

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Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Myanmar manufacturing PMI falls to 52.0 in May
The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, fell to 52.0 in May from 52.9 in April.
Nikkei Asian Review

Machinery import regulations relaxed
The Ministry of Commerce has relaxed some disciplines in the machinery import process, as many machinery importers are facing difficulties.
Eleven Myanmar 

Vulpes to close Myanmar focused VC fund by July, to invest in tech, startups
Singapore based Vulpes Investment Management Pte Ltd is planning to close their Myanmar-focused fund by the end of July this year. Following the close of the fund, it will looking to invest in tech companies and startups
Deal Street Asia 

See here for more of today’s Myanmar Morning News >>>

 

Philippines morning newsPhilippines Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Philippines manufacturing PMI rises to 54.3 in May
The Nikkei Philippines Manufacturing Purchasing Managers’ Index, or PMI, rose to 54.3 in May from 53.3 in April.
— Nikkei Asian Review

SEC doubles minimum public ownership to 20%
The Securities and Exchange Commission will require listed companies to keep a public ownership of at least 20 percent, doubling the existing minimum public float requirement, citing the need to deepen the domestic capital market and raise the bar for corporate governance.
— Philippine Daily Inquirer

Bank lending grows 19% to P6.22 T
Bank lending grew 19.2 percent in end-April despite the weaker-than-expected economic growth in the first quarter, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— Philstar Global

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Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Moody’s revises outlook for Singapore banks to stable
Moody’s Investors Service has upgraded its outlook to stable from negative for Singapore’s banking system, in a research report released yesterday.
Today Online 

Bank of Singapore to Keep Hiring in Hunt for Growth, CEO Says
Bank of Singapore, which recently broke into the ranks of Asia’s top 10 private banks, intends to keep hiring more relationship managers and focus on serving a wealthier bracket of customers to keep expanding its assets under management.
– Bloomberg

Exemption is unfair, say some carmakers and dealers
A number of carmakers and dealers are crying foul over a surprise move to exempt some models from getting particulate matter (PM) readings.
– The New Paper

See here for more of today’s Singapore Morning News >>>

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Food exports forecast to grow 10.8%
hailand’s food exports are expected to fare better than earlier projected, fuelled by the world’s economic recovery, abundant raw materials and more value-added food items.
– Bangkok Post

Lazada ready to set up E-Commerce Park in EEC
Lazada Thailand, a company within China’s Alibaba Group, is expected to select a location to establish its electronic-commerce park in the Special Economic Zone of the east within the next two months and begin operation in early 2019.
– NNT

Nod for tollways to fund new projects
THE CABINET yesterday agreed to allow the Expressway Authority of Thailand (Exat) to include two of its existing projects in the Thailand Future Fund (TFF) to mobilise financing for two new projects worth a total of Bt44.82 billion.
– The Nation

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Vietnam morning newsVietnam Morning News

Compiled by John Le Fevre    @photo_journ

 

Vietnam PM Teases US $17 Billion Goods Deal Amid Washington Visit
Vietnam’s Prime Minister Nguyen Xuan Phuc said he intends to sign a deal for mostly high-tech imports from the United States worth U.S. $15-17 billion during his visit to Washington, ahead of a meeting with U.S. President Donald Trump scheduled for Wednesday.
— Radio Free Asia

6.7 percent GDP growth rate challenge for Vietnam: economists
As the GDP growth rate was low, at 5.1 percent, in the first quarter of the year, Vietnam will have to speed up in the remaining months of the year.
— VIETNAMNET

Vietnam manufacturing PMI slips to 14-month low
Vietnam’s manufacturing sector last month saw its weakest growth since March 2016 as companies reported slower rises in output and new orders.
— Financial Times

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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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