Asean Morning News For June 20

Asean Morning News For June 20

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Asean and South Asia take lead in infrastructure race
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. It is also connecting people and businesses to opportunities, both within and beyond the region.
— The Daily Star

On DBP as infrastructure bank
INADEQUATE road networks, ports and seaports, transport systems and other infrastructure facilities have often been cited as major obstacles to economic growth in the Philippines.
— Business Mirror

ASEAN uniting to crush IS
What is brewing in the region at the northeastern tip of Kalimantan has sent a chilling message to ASEAN.
— The Jakarta Post

Indonesia able to link Iran to ASEAN countries
ICCIMA Head Shafei, while pointing to age-old trade ties between Tehran and Jakarta, described Indonesia as a major destination for Iranian businessmen.
— Mehr News Agency

SMEs urged to transform their businesses to ride on digital wave
With the growth of the digital economy potentially adding US$1 trillion (S$1.4 trillion) to the gross domestic product (GDP) of the Association of Southeast Nations (Asean) by 2025, experts said it is important that small and medium enterprises (SMEs) in the region transform their businesses to ride on this burgeoning trend.
— Today Online

Islamic State poses growing threat to Asean
SOUTHEAST Asia’s jihadis, who fought by the hundreds for the Islamic State (IS) group in Iraq and Syria, now have a different battle closer to home in the southern Philippines. It’s a scenario raising significant alarm in Washington.
— Business Mirror

Trump’s Asia retreat leaves room for new regional order
United States President Donald Trump’s move to pull America out of the Paris climate accord and the Trans-Pacific Partnership has raised questions over Washington’s reliability as a world leader.
— Today Online

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Government vows to tighten control over Kingdom’s pawnbrokers
The government is preparing legislation aimed at ensuring tighter control over the nation’s pawnshops to ensure professionalism in a sector that has grown rapidly and lacks a supervisory framework.
— The Phnom Penh Post 

Room for growth in innovation
Cambodia lags behind much of the world in terms of innovation, placing last among other countries in Asia despite significant inflows of foreign investment capital that could be used to develop innovative technologies, according to a new report.
— The Phnom Penh Post

Japanese Taxi Leasing Venture Set to Hit Road in Cambodia
A pilot program for a taxi leasing venture by two Japanese companies that aims to make it easier for prospective drivers to get started is set to hit the road in Cambodia by early next month, according to a report by the Nikkei Asian Review on Sunday.
— The Cambodia Daily (paywall)

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

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesia launches web monitor to keep check on food price inflation
In a move designed to help keep food prices stable and inflation in line with official targets, Indonesian officials have launched a website to monitor the prices of the 10 main food commodities.
— Food Navigator Asia

East Ventures leads $500k investment in Singapore-based startup Airfrov 
Indonesian VC firm East Ventures has led a $500,000 follow-on investment round into Airfrov, a Singapore-based P2P shopping platform. New investors also participated, including Carro CEO Aaron Tan, the company said in a statement.
— Deal Street Asia

Construction Giant Adhi Karya Seeks to Raise $260m in Bond Sale
State-owned construction company Adhi Karya expected to raise Rp 3.5 trillion, or $263 million, from a bond sale on Monday (19/06) to pay back debts and fund future business expansions, the company wrote in a filing to the Indonesia Stock Exchange.
— Jakarta Globe

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

 

Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro   @cara_nav

Government working to repay debts owed to companies
Government debt amounting to 400 billion kip owed to companies for carrying out State investment projects will be paid out within the second quarter of this year.
– Vientiane Times

Daewoo E&C Infiltrates Laos Infrastructure Development
On June 15, in attempt to win future bids on developing Lao infrastructure projects, Daewoo Engineering and Construction Co. (Daewoo E&C) signed a Memorandum of Understanding (MOU) with Lotte Engineering & Construction, the KDB, and Korea Trade & Insurance Corporation with Petroleum Trading Lao Public Company (PTL).
– The Laotian Times

Thailand plans to sign electricity accord with Laos and Malaysia
THAILAND is preparing to sign a tripartite electricity-trading agreement with two neighbouring countries at the upcoming Asean Ministers of Energy Meeting.
– The Nation

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

 

Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Indonesian group invests in Malaysian healthcare tech startup
The Hamami Family, ranked as one of the richest in Indonesia by Forbes, has invested in BookDoc, a healthcare technology start-up which has its headquarters in Malaysia.
— Free Malaysia Today

Fisheries Dept: Up to RM6bil lost to illegal fishing every year
A total of 980,000 tonnes of seafood worth up to RM6bil is lost annually due to illegal fishing activities, says the Fisheries Department.
— The Star Online 

Here’s how 1MDB can disprove ‘US$4.5b theft’
The US Department of Justice (DOJ) in a new filing said that US$4.5 billion (an astonishing nearly RM20 billion) has been allegedly stolen from 1MDB and detailed new spending from the loot. That’s roughly US$850 million (RM3.7 billion) in “stolen” money higher from the figure it had revealed in its earlier filings 11 months ago of US$3.657 billion (nearly RM16 billion) “stolen”.
— Malaysiakini 

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

 

Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro   @cara_nav

 

Myanmar entrepreneur body plans to set up angel network
In a fillip to the country’s fledgling startup ecosystem, the Myanmar Young Entrepreneurs Association (MYEA) – a 1,000-member strong body – is looking at setting up a local angel network over the next three months with commitments from 20 local investors who seek to inject seed capital into homegrown startups.
– Deal Street Asia

World Bank urges liberalisation of accounting and auditing sector
The Report on the Observance of Standards and Codes – Accounting and Auditing, released on June 16, noted that Myanmar’s revisions to its statutory institutional framework for financial reporting will improve alignment with international good practice.
– The Myanmar Times

MIC expands amid reforms
The Myanmar Investment Commission (MIC) has been reorganised with three new members, according to a news release by the Directorate of Investment and Company Administration (DICA) on June 14.
 The Myanmar Times

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

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Central bank revises 2017 net FDI forecast up to $8B
The central bank revised its forecast for net foreign direct investments (FDI) this year up by $1 billion on perceptions of improving local economic indicators and global economic prospects.
— The Manila Times

175 Marawi teachers still missing
More than a hundred teachers affected by the nearly monthlong Marawi siege who remain unaccounted for may not have been held hostage by the Islamic State-inspired Maute terrorist group.
— Philippine Daily Inquirer

CIMB Research projects tepid auto industry demand growth in 2017
CIMB IB Research has maintained its “Underweight” rating for the automotive (auto) sector and said May 2017 total industry volume (TIV) rose 13% year-on-year (y-o-y) and 18% month-on-month (m-o-m), driven by new model launches and pre-Hari Raya promotions.
— The Edge Markets MY

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

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Digital economy a priority for Singapore when it takes ASEAN chair in 2018
Singapore plans to drive e-commerce within the region when it chairs the Association of Southeast Asian Nations (ASEAN) next year.
— Channel NewsAsia 

SMEs urged to transform their businesses to ride on digital wave
With the growth of the digital economy potentially adding US$1 trillion (S$1.4 trillion) to the gross domestic product (GDP) of the Association of Southeast Nations (Asean) by 2025, experts said it is important that small and medium enterprises (SMEs) in the region transform their businesses to ride on this burgeoning trend.
 Today Online 

Singapore prime minister apologises for siblings’ dispute
Singapore’s prime minister has apologised to the country for the extraordinary public dispute with his siblings, which has grown into a conflict over the integrity of the city-state’s administration.
— Financial Times 

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

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Thailand Plans Cyber Network Scrutiny, Law to Toughen Online Monitoring
Thailand aims to buy software to strengthen the military government’s ability to track online networks and monitor online activity while planning a cyber law that will expand powers to pry into private communications.
– U.S. News & World Report/ Reuters

IATA: Airline sector in need of repair 
The global airline trade group has warned that the future of Thailand’s aviation and tourism industry is being jeopardised by several critical issues.
– Bangkok Post

Thai business shuns regime, invests overseas
Thai businesses invested a record $13 billion (442 billion baht) abroad in 2016, dwarfing inflows of $1.6 billion (54.4 billion baht), according to the United Nations Conference on Trade and Development.
– Bangkok Post

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

 

Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro   @cara_nav
 

Excess preconditions drag economy
A report on 2017 Business Conditions launched late last week by the Central Institute for Economic Management (CIEM) shows that 234 business sectors require new legal prerequisites.
– Viet Nam News Bizhub

Vietnam 4th in Asia-Pacific for online shopping
More than nine in ten people in Vietnam (92 per cent) shop online, putting the country fourth in the Asia-Pacific region following South Korea (96.7 per cent), India (95.8 per cent), and Japan (95 per cent), according to Mastercard’s latest online shopping survey for Asia-Pacific.
– Vietnam EconomicTimes

11 Hilton hotel projects to be developed in Vietnam
BRG Group said it will join hands with Hilton Worldwide Group to run 11 Hilton hotel projects in Vietnam.
– VietnamPlus

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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