Asean Morning News For June 12

Asean Morning News For June 12
Estimated Reading Time: 9 minutes |

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

University Rankings: Malaysia Emerges as Higher Education Hub – Singapore’s Nanyang Dethrones NUS
The National University of Singapore (NUS) has long ruled as the undisputed pinnacle of Asean higher education. In almost all international university rankings, with the exception of those that have restricted categories, Nanyang Technological University (NTU) has played second fiddle.
— AEC News Today

3 Must Read Asian Market Stories: China’s Central Bank Balance Sheet Won’t Shrink Soon, Bitcoin Soars Above $3,000, and Why SEA Ltd Is Planning An IPO In New York
The pace at which the world’s leading central banks will shrink their balance sheets has come into sharpened focus, but it seems investors don’t have to worry yet about China pulling in the reins.
— Barron’s

Singapore FM invites Chinese bids on project
Singapore welcomes Chinese companies to submit bids on the Singapore-Kuala Lumpur High Speed Rail, Singaporean Minister for Foreign Affairs Vivian Balakrishnan has said.
— China.org.cn

Minister: Malaysia to produce Volvos by 2022
Malaysia will be producing locally assembled Volvo cars in Perak for the Asean market by 2022, a minister said.
— Malay Mail Online

Asean celebrates five decades
A sense of regionalism was one of the greatest achieve-ments of the Asean over the last five decades and will remain critical for its integration in the future, experts said during an international workshop named “Geo-political transition in the Asia-Pacific and the half-century road of Asean” held in Hanoi on Friday.
— Business Mirror

Asean needs better coordination to ride on Belt and Road
We should not be overly pessimistic about the Belt and Road initiative and become inward-looking (S’pore should not bank on Belt and Road; June 1).
— Today Online

Singapore’s flip-flop stance toward China hard to change
Singaporean Prime Minister Lee Hsien Loong said in a recent interview with Australia’s ABC Radio National that many countries, including Singapore, see the Belt and Road initiative as a constructive way for China to integrate with other countries as China’s influence in the region continues to grow. He said his country supports the Belt and Road initiative as well as the Asian Infrastructure Investment Bank.
— Global Times

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Cambodia’s society is changing fast, and its parties slowly
On 4 June, Cambodia held its 4th commune elections. According to the National Election Committee (NEC), 7,040,594 people or 89.52% of registered voters—Cambodia’s highest-ever voter turnout rate—cast their votes in the country’s 1,646 local government areas, known as communes.
 New Mandala

CNRP Win Would Mean Switch From Dollar to Riel, Official Says
An opposition spokesman said on Sunday that if the CNRP won next year’s national elections, all transactions in the country would be in Khmer riel within one year—a huge reversal of the current situation, in which 84 percent of transactions use the U.S. dollar, according to National Bank of Cambodia (NBC) statistics.
— The Cambodia Daily (paywall)

Bakery chain Au Bon Pain set to open locally
Mudman Plc, the authorised franchisee of the Au Bon Pain bakery chain in Thailand, unveiled a plan to open the first Au Bon Pain branch in Cambodia by next year, saying it was awarded franchise rights for the Cambodia, Laos, Myanmar and Vietnam (CLMV) market by the US brand’s parent company
 The Phnom Penh Post 

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Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesian biodiesel producers turn to China
INDONESIAN biodiesel producers are eyeing China as a new promising market amid negative sentiment in the European Union and the United States.
— The Nation

Diplomatic Condition in Qatar Presents Agricultural Opportunities for Indonesia
Berly Martawardaya, a researcher at the Institute for Development of Economics and Finance (Indef), says the severing of diplomatic ties between Arab League countries and Qatar will open business opportunities for Indonesia.
— Netralnews

Halal Lifestyle Gains Momentum in Global Tourism Industry
The upcoming Smesco Halal Lifestyle Trend 2017 aims to promote halal lifestyles by featuring various products, services and educational sessions, the Ministry of Tourism said in a statement on Sunday (11/06).
— Jakarta Globe

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Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro   @cara_nav

 

Govt mulls new State investment projects
Laos’ budgetary tensions have forced the government to cut spending in State investment projects in a move to prevent the country from being dragged further into chronic debt.
– Vientiane Times

General Electric Opens Representative Office in Laos
General Electric, an American multinational conglomerate corporation, opened on Friday its representative office in Vientiane, expanding its service in ASEAN.
– Lao News Agency

Private Businesses Struggle to Find Financing
Business banking in Laos has taken a severe hit in the past few years as government officials have started limiting funds that have been typically granted to developers for implementing infrastructure projects in the past.
– The Laotian Times

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Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Malaysia tourism tax proceeds for promotion, refurbishment purposes: Minister
The government will use proceeds from the Tourism Tax – which comes into force on Jul 1 – to promote Malaysia overseas and refurbish tourism facilities, said Tourism and Culture Minister Mohamed Nazri Abdul Aziz on Saturday (Jun 10).
— Channel NewsAsia 

Services driving economy, but what’s next?
Malaysia’s Gross Domestic Product grew 4.2 per cent last year and more than half of it came from the services sector.
— The Malay Mail Online 

AffinBank, Affin Islamic Launch Multifunctional Visa Debit Card
Affin Bank Bhd (AffinBank) and Affin Islamic Bank Bhd (Affin Islamic) have launched the AffinBank and Affin Islamic Visa Debit Card – a multifunctional card which combines the features and benefits of an ATM and a debit card.
— Malaysian Digest 

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Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro   @cara_nav

 

Foreign investment in Myanmar up in April
FOREIGN direct investment in Myanmar reached US$656 million in April, with the majority of that investment going into the manufacturing sector, according to the monthly report of the Directorate of Investment and Company Administration (DICA) released last week.
– Global New Light of Myanmar

JICA offers K1.3b loan to SMEs
JAPAN International Corporation Agency (JICA) is going to lend K1.3 billion via local banks to small and medium-sized enterprises (SMEs), an official from JICA told The Myanmar Times.
– The Myanmar Times

Foreign investment in Thilawa SEZ tops a billion dollars
Foreign investment in Thilawa Special Economic Zone reached more than US$1.07 billion at end of last month, Thurein Aung, vice president of Myanmar Japan Thilawa Development Ltd, has said.
– Eleven Myanmar

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Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

AIIB to approve $150M financing for MM flood project
CHINA-LED Asian Infrastructure Investment Bank (AIIB) may approve this week $150 million to finance a Philippine project to improve flood management in Metro Manila, according to the Department of Finance.
— The Manila Times

WB to co-finance $231-M agrarian reform project
The World Bank (WB)said that it will co-finance the $231-million agrarian reform project aimed at strengthening the capacity of farmer organizations, enhance the competitiveness of communities and nearby areas, as well as improve their access to markets.
— Manila Bulletin

191 terrorists killed in 3 weeks of clashes
At least 191 terrorists have been killed since the battle for control of Marawi City erupted between government troops and the Maute Group nearly 3 weeks ago, the Armed Forces of the Philippines (AFP) said.
— The Manila Times

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Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Online fund-raising initiatives being monitored
The authorities have made it clear that they will be keeping a close watch on social media websites and other platforms that facilitate donations to prevent misrepresentation of claims or monies being used.
— The New Paper 

Singapore firms urged to make the most of India’s biggest tax reform
SINGAPORE businesses should make the most of India’s biggest tax reform as the country rolls out its Goods and Services Tax (GST) in July, urged International Enterprise Singapore.
— The Business Times 

Stronger economic outlook boosts pension funds, SWFs
A STRONGER world economy boosted public pension fund, sovereign fund and central bank assets to US$33.5 trillion at end-2016, up 1.4 per cent from a year ago, according to a think tank that tracks the performance of these large public investors.
— The Business Times 

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Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Finance Ministry misses revenue target in first 8 months of fiscal 2017
The Ministry of Finance says it missed the revenue target in the first 8 months of fiscal 2017.
– NNT

Is a property crash on the horizon? 
After a former WTO head’s warning that a bubble may be forming in the Thai housing market, developers and high-ranking officials have rushed to allay fears that the sector risks overheating.
– Bangkok Post

Thailand 4.0 ‘needs urgency’
THE THAI government needs to have a sense of urgency in initiating the Thailand 4.0 scheme, which should deliver a substantial result to the country in a certain period of time, say academics.
– The Nation

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Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro   @cara_nav

 

Vietnam tries its best to reduce trade deficit
Vietnam`s Ministry of Industry and Trade (MoIT) plans to tighten control on goods whose imports are discouraged and facilitate local manufacturing to reduce the country’s trade deficit.
– Hanoitimes

Viet Nam looks to private sector to fund infrastructure
A need to fund infrastructure projects vital to expanding Viet Nam’s economy and boosting connectivity is pushing its government to turn to the private sector for support.
– VietnamNet Bridge

Foreign investors in race to take over real estate projects in Vietnam
A sharp increase in foreign arrivals to Vietnam at the start of 2017 has injected a huge development impetus into the coastal resort sector, and there have also been a raft of investments, mergers and acquisitions in other real estate sectors.
– VnExpress

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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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