Asean Morning News For June 13

Asean Morning News For June 13

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

ASEAN automotive aftermarket to grow at 9.6% CAGR through 2026 made available by top research firm
In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN. On account of growing out-of-warranty car parc, the US$ 19.3 Bn ASEAN automotive aftermarket is predicted to surpass US$ 48 Bn in revenues by 2026 end, increasing at a healthy CAGR of 9.6% through 2026.
— WhaTech

China Belt & Road: S’pore expected to benefit from regional uplift
SINGAPORE and China pledged on Monday to cooperate on China’s infrastructural “project of the century”, but observers say the city state is likely to catch only a few droplets from the flood of monies.
— Business Times

ASEAN+3 economic growth estimated to slow to 5.2% in 2017
Analysts have forecast a decline in the economic growth of ASEAN, China, Japan and South Korea, known collectively as ASEAN+3, owing to global economic volatility.
– NNT

Vietnam Playing Catch-Up in ASEAN Auto Sector
Vietnam faces tough going as it works to develop an upstream auto-parts manufacturing base, and meanwhile, regional liberalization through the ASEAN trade bloc is threatening the country’s vehicle-assembly segment.
— Ward’s Auto

Inaugural Africa-ASEAN Business Expo kicks off in November
The inaugural Africa-ASEAN Business Expo (AABE) 2017 launches 6-8 November at the Sandton Convention Centre to establish a new trading launch pad between the two most vibrant economies in the world.
— Bizcommunity.com

Asean, S. Korea trade value set to rise sharply
The total trade volume of the Association of Southeast Asian Nations (Asean) with the Republic of Korea is projected to increase to US$200 billion in the next three years, the Asean-Korea Centre reported on its website recently.
— Eleven Myanmar

Multipolar anarchy to fill gap between hegemons?
The collapse of the Anglo-American order creates opportunities for regional groupings like Asean and EU to work together to strengthen multilateral institutions.
— The Straits Times

Modern slavery in Asia
IF the 2016 Global Slavery Index is accurate, two-thirds of world’s modern-day slaves are found in Asian countries, mostly victims of human trafficking. The illicit market in exploited people is so lucrative that it is said to generate over $150 billion in profits worldwide—bigger than the GDP of countries like Luxembourg, Bulgaria, Hungary and Oman. This explains why human trafficking has become an endemic crime globally.
— The Manila Times

Interpol Helps Increase Regional Security in Southeast Asia
Interpol has initiated a coordinated border operation between immigration and police agencies in Southeast Asia to prevent the movement of criminals or terror suspects and increase security in the region.
— Jakarta Globe

DFCC introduces Oracle budgeting cloud service, 1st time in ASEAN region
DFCC Bank and Synapsys along with their partner Oracle recently launched the Oracle Planning and Budgeting Cloud Service together with a Customer Profitability Analytics (CPA) system, which is built on Oracle’s leading platform.
— Lanka Business Online

Legendary US Venture Capitalist Tim Draper Visits Indonesia, Announces $50m Fund for Southeast Asia
WaveMaker Partners, a giant venture capital firm with offices in Los Angeles and Singapore, is closing in on a $50 million fund for Southeast Asia, with Indonesia placed as a key market, the company said in a statement dated Thursday (09/06).
— Jakarta Globe

Asean office issues rosy outlook for Thai growth
The Asean+3 Macroeconomic Research Office (Amro) is upbeat that the Thai economy will remain on solid footing, and policymakers stand ready to adopt both fiscal and monetary policies to support the economy…
— Bangkok Post

China, ASEAN to enhance infrastructure cooperation
China and ASEAN economies will further promote cooperation in infrastructure construction, as the Belt and Road Initiative continues to advance, said a senior executive of Jiangxi Jiangling Motors Co Group.
— China Daily

The Role of Mutual Respect in Improving Cambodia-Thailand Relations
The relations between Cambodia and Thailand can be appropriately labelled as a love-hate relationship, given the long history of bilateral ties between the two neighboring countries. However, racial hatred, arguably, seems to have prevailed among many, if not most, of the people of both countries, at least during the three-year Cambodian-Thai border dispute that started in July 2008 over the territory surrounding the 11th century Preah Vihear Temple (known as Phra Viharn in Thailand).
— IPP-Review (blog)

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Work Permitting Eases, But Glitches Remain
Companies operating in Cambodia have seen the process of obtaining work permits for foreign employees become easier and more transparent since the Labor Ministry started a website in September run by the private sector, industry experts said.
— The Cambodia Daily (paywall)

Cambodia tourist arrivals rise 5 percent in 2016: PM
The number of foreign tourists visiting Cambodia in 2016 rose 5 percent to five million, bringing in about $3 billion in revenue, the prime minister said on Monday.
— Reuters 

NGOs claim 95 percent result count accuracy
As the National Election Committee launched into the recount process for contested communes yesterday, an election watchdog coalition announced it had found that 95 percent of a sample of polling stations’ vote count forms from the election body matched those compiled by the group itself.
— 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 re to reduce foreign exchange outflow to up to US$1.5 billion
State-owned reinsurance company Indonesia Re is ready to reduce foreign exchange outflow to up to Rp20 trillion, or about US$1.5 billion.
— Antara News

What Makes Indonesia‘s Manufacturing Industry Rises to 9th Position in the World
Indonesias manufacturing industry rose to the 9th place in the world after having ranked among the top 10 since 2015, according to Industry Minister Airlangga Hartarto.
— Netralnews

4.36 Percent Inflation Expected in 2017
The Governor of Bank Indonesia Agus Martowardojo projects year-on-year inflation rate in 2017 of 4.36 percent, an increase compared to late 2016 of 3.02 percent, mostly attributable to pressure from administered prices.
— Tempo.co

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

 

Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro   @cara_nav

 

Labour Market Demands Only 10% of Fresh Graduates
Currently, almost 90 percent of new graduates are without jobs, with the labour market demand at only 10 percent of total graduates.
– Lao News Agency

TRIS affirms Laos’ EDL-Generation’s rating at BBB+
TRIS Rating has affirms the company rating of EDL-Generation Plc and the ratings of the company’s senior unsecured debentures at BBB+.
– The Nation

Attapeu tourism development requires more all-season roads
Attapeu province in southern Laos has huge untapped tourism potential but still lacks the funding to develop these tourism sites and roads access, officials have confirmed.
– Vientiane Times

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

 

Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Alibaba launches new sales channels in Malaysia, Singapore
Chinese e-commerce giant Alibaba Group Holding Ltd on Monday (Jun 12) said it is launching new sales channels in Singapore, Malaysia, Hong Kong and Taiwan as China’s deep-pocketed e-commerce firms vie for new users in the region.
 Channel NewsAsia 

DOJ moves to seize London properties linked to 1MDB fund
Controversial businessman Low Taek Jho, better known as Jho Low, bought the penthouse, an office building and another flat, which are all located at the upmarket Mayfair district using £77 million (RM416 million at current rates) from Malaysia’s state-owned fund.
— Malaysiakini 

CIMB IB Research projects net profit growth of 9.2% for banks in 2017
CIMB IB Research has maintained its “Overweight” rating on the banking sector and said banks’ net profit increased by a strong 14% yoy in 1Q17, underpinned by lower loan loss provisioning and wider topline expansion.
— The Edge Markets 

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

 

Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro   @cara_nav

 

Substations, transmission lines to be extended in new towns
Construction of substations and transmission lines by the Ministry of Electricity and Energy to provide electricity to new towns and regions is part of the 5-year plan beginning in fiscal 2017-2018, Deputy Minister Dr Tun Naing said at last week’s Pyithu Hluttaw session.
– The Myanmar Times

‘Death Railway’ to get a new lease on life
The historic Yangon-Mandalay railroad, better known as the Death Railway, is in dire need of a facelift.
– The Myanmar Times

Actions to be taken against sales of state-owned land
Actions will be taken against those who sell state-owned land in accordance with the law, said Yangon Region Chief Minister Phyo Min Thein at a press conference on the regional government’s first in office on June 9.
– Eleven Myanmar

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

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

GE sees PHL saving P10 billion in power cost in 25 years
OFFICIALS of American giant GE said last week the Philippines could potentially achieve $10 billion (P495.45 billion) in savings over a 25-year power-plant life cycle and an estimated 16 million tons in carbon-dioxide reduction annually if it maximizes the efficiency of existing and new power-generation assets.
— Business Mirror

Economy shows ‘signs of overheating’ – DBS
Singapore-based DBS Bank said it is seeing early signs of an overheating Philippine economy – making a case for a monetary policy tightening in the coming months.
— The Manila Times

City in ruins, IS still a threat 
The disgraceful story of Marawi City in the southern Philippines is an embarrassment to the country’s president, Rodrigo Duterte. But it is a threat to Asean neighbours, including Thailand. Southeast Asia…
— Bangkok Post

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

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Alibaba Launches Tmall Services In Malaysia and Singapore
Chinese e-commerce giant Alibaba Group Holding Ltd on Monday said it is launching new sales channels in Singapore, Malaysia, Hong Kong and Taiwan as China’s deep-pocketed e-commerce firms vie for new users in the region.
— The Business of Fashion 

Tourist surge boosts April’s non-auto retail sales by 4.9%
Retail sales expanded in April from the same period last year as discretionary spending increased amid a surge in visitor arrivals in the first quarter.
— Today Online 

High-tech farms in Singapore take on cold-weather crops
In line with the Government’s push for farming productivity in Singapore – such as the recently enhanced Agriculture Productivity Fund and the announcement that farmland would be set aside to promote high-tech farming – more farms are exploring new methods to grow crops previously thought to be impossible to cultivate in Singapore’s climate.
— Fresh Plaza 

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

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Strong baht tipped to hurt tourist stays 
A strong baht is expected to hurt inbound tourism by driving up the cost of travel and narrowing industry margins, say public and private players in the tourism sector.
– Bangkok Post

Fiscal deficits can run for 8 more years in growth-boosting drive, Apisak says
THAILAND can run fiscal deficits for a further eight years to boost economic growth, Finance Minister Apisak Tantivorawong said yesterday in an exclusive interview with the Nation Multimedia Group.
– The Nation

Thai giant launches new food standard
Charoen Pokphand Foods Public Company Limited (CPF) has introduced a CPF food standard project in an effort to build consistent quality and food safety management systems across its integrated feed-farm-food operations.
– FoodNavigator-Asia

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

 

Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro   @cara_nav

 

Inflation expected at 2.6 per cent this year
The country’s inflation this year is forecast to reach 2.6 per cent barring fluctuations of prices on world markets and adjustment in the cost of public services, the National Financial Supervisory Commission (NFSC) reported on Monday.
– Viet Nam News

NA passes Law on Supporting SMEs
With 83.5 per cent of votes in favor, the National Assembly (NA) passed the Law on Supporting Small- and Medium-sized Enterprises (SMEs) on June 12.
– Vietnam EconomicTimes

Ho Chi Minh City vows to remove pollution-causing facilities by 2020
The People’s Council of Ho Chi Minh City has issued a resolution centered on the environment, in which it promises a citywide purge of pollution-causing facilities by 2020.
– Tuoi Tre 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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