Asean Morning News For May 11

The most comprehensive #Asean Morning News Roundup published

Asean Morning News For May 11

Asean morning newsAsean Morning News

Compiled by AEC News Today    @aecnewstoday

 

ASEAN needs to invest in infra and youth: Cambodian business leader
There’s a need for less developed countries in the Association of Southeast Asian Nations (ASEAN) to invest in digital infrastructure to take advantage of what is being touted as the Fourth Industrial Revolution, according to a business leader in Cambodia.
– ABS-CBN

Asian exports are healthy, but some see a downturn looming
Exports have been growing at a healthy pace in Asia, and the region’s manufacturing sector started the second quarter on a stronger footing, with all except two of the 12 economies surveyed by The Nikkei registering broad-based improvement.
– Nikkei Asian Review

Southeast Asia seen shrugging off inflation threat as banks meet
The threat of inflation is growing in Southeast Asia with central banks in Malaysia and the Philippines weighing action this week.
– The Edge Markets

Is Southeast Asia ready for the robotics revolution?
TECHNOLOGICAL advancements over the past couple of years have brought the prospect of a robotic workforce closer to reality.
– Asian Correspondent

Fake news, real danger in Southeast Asia
In December, Indonesian President Joko Widodo spoke out against false media reports that, he said, were destabilizing his government. “Slander, hatred and rude words on social media are increasingly troubling people,” he claimed in a tweet, presaging his government’s bid now underway to regulate against false reporting.
– Asia Times

12 Innovative Startups Qualify to Pitch Investors at Mekong Tourism Forum
Organizers of the Mekong Innovative Startup Tourism (MIST) accelerator program announced that 12 startups from Cambodia, the Lao PDR, Myanmar and Vietnam have qualified to pitch their business plans to investors at the Mekong Tourism Forum, 6 June in Luang Prabang, Lao PDR.
– Hospitality Net

Reforming fossil fuel subsidies in ASEAN, India and China
Energy is heavily subsidised across the globe and energy subsidies exert an extensive economic burden on many countries, particularly on developing economies.
– Myanmar Times

Women must be at the heart of the digital revolution
According to a Laotian proverb, “The voice of a poor man does not carry very far.” Neither does the voice of a poor woman. That is why we continue the struggle for women’s equal rights, especially the most disadvantaged.
– The Straits Times

Vietnam, Laos, Cambodia join hands in controlling infectious diseases
Health officials from Vietnam, Laos and Cambodia shared experience in fighting infectious diseases, especially avian flu, at a workshop in the central province of Thua Thien-Hue on May 10.
– VietnamPlus

Carlos Ghosn goes for glory with tie-up in Southeast Asia
Carlos Ghosn knows what his automobile empire is missing, and he is on a mission to get it. The elusive piece of the puzzle is a larger slice of the Southeast Asian market.
– Nikkei Asian Review

Young Workers Herald the Rise of Southeast Asia
After decades of living under the shadow of neighbors in the North, Southeast Asia is taking over as the region’s growth leader.
– BloombergMarkets

The Asean Foundation, SAP partner to create positive social impact in Asean
THE Asean Foundation and SAP SE (NYSE: SAP) today announced a strategic partnership to create positive social impact in South East Asia. This joint effort will focus on areas of Education, Volunteerism and Entrepreneurship.
– SunStar Manila

Lemongrass Oil Market to register a healthy CAGR for the forecast period, 2016-2026
The Lemongrass oil is obtained by extraction of the stalks of the Lemongrass (Cymbopogon) herb. Lemongrass shrubs/plant mainly grows in Asia and cannot be available as fresh throughout the year, but now a days lemongrass oil and lemongrass extract or dehydrated forms are commonly used.
– LAnews

 

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Cambodia morning newsCambodia Morning News

Compiled by John Le Fevre    @photo_journ

 

Voter Ink Can Be Washed Off, NEC Admits
Less than a month before Cambodia goes to the polls, the country’s top election body on Wednesday acknowledged it had paid nearly $800,000 for indelible ink that its own tests showed could be removed using hair care products, an issue one opposition leader called a “huge matter” that could undermine voter trust in the June 4 commune elections.
– The Cambodia Daily (paywall)

Unrest to be met by military, Prime Minister says
Telling a crowd of soldiers that the ruling CPP’s achievements must be “protected”, Prime Minister Hun Sen yesterday vowed a military crackdown on any election-related protests while wielding a familiar weapon: the threat of civil war should the ruling party lose the upcoming elections.
– The Phnom Penh Post

Shifting Economy Feeds Nation’s Uncertain Politics
The country is set to embark on local elections that promise to highlight the economic hardships faced by many Cambodians despite a sustained annual growth rate and continued poverty reduction, economic and political observers said this week.
– The Cambodia Daily (paywall)

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Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

World Bank Lends $200m to Expand Indonesia’s Social Assistance Programs
The World Bank has approved a $200 million loan to help the Indonesian government expand social assistance programs in an effort to eradicate poverty, according to a statement released on Wednesday (10/05).
— Jakarta Globe

Indonesia’s flip-flop policy on Freeport to damage investment climate: Experts
The government’s policy flip-flop in the mining sector, which has led to a prolonged dispute with gold and copper miner PT Freeport Indonesia, will likely damage the country’s investment climate, in the long run, should there be no good will to accommodate the interests of all stakeholders, experts and analysts have suggested.
— The Jakarta Post

Aquaculture produces 3.9 million tons fish in Q1
Indonesian aquaculture produced 3.90 million tons of fish in the first quarter of 2017 or a 3.11 percent increase from the same period in 2016.
— The Jakarta Post

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Lao PDR morning newsLao PDR Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Lao economy to grow at 6.8 percent in 2017: IMF
The International Monetary Fund (IMF) has projected the Lao economy to grow at 6.8 percent in 2017, lower than the previous year due to lower commodity production and stagnant tourism.
– Xinhua

Laos’ govt tightens spending to reduce debt burden
Laos’ government has announced that some new development projects planned for this year could be postponed until next year if Laos faces a revenue shortfall in 2017.
– The Nation

President to attend Road and Belt Forum in China
President Bounnhang Vorachit will attend the Belt and Road Forum for International Cooperation taking place from May 14 to 15 in Beijing, while economists say China’s Belt and Road Initiative will benefit the Lao economy.
– Vientiane Times

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Malaysia morning news

Malaysia Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Private investments in ECER to hit RM110bil this year
The East Coast Economic Region Development Council (ECERDC) expects private investments to reach RM110bil in the East Coast Economic Region (ECER) this year, a target actually set for 2020.
— The Star Online

Perak Targets 150,000 Tourists From Indonesia This Year – Zambry
Perak is targetting 150,000 tourists from Indonesia to visit the state this year following the three-day Visit Perak Year 2017 Tourism Mission in Medan and here since last Monday.
— Bernama

Malaysia’s March industrial output up 4.6% on year
Malaysia’s industrial production index (IPI) rose 4.6% in March from a year earlier on higher manufacturing and mining output as electricity production fell.
— The Edge Markets MY

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Myanmar morning newsMyanmar Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Police fire shots to break up Myanmar nationalist, Muslim scuffle
Police in Myanmar fired warning shots to break up scuffles between Buddhist nationalists and Muslims in Myanmar’s biggest city in the early hours of Wednesday (May 10) after a crowd went hunting for “illegal” Rohingya.
– Channel NewsAsia

Trafigura-backed oil firm opens $92 mn Myanmar terminal
An oil company backed by global commodities giant Trafigura has opened a $92 million oil and gas terminal in Myanmar to cash in on growing energy demand from the fast-expanding economy.
– mizzima

Myanmar’s First Private Bank to digitalize operations with Misys
Myanmar’s First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalize.
– Fintech Innovation

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Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Philippines exports, imports grow faster than expected
Outbound shipments from the Philippines grew more than expected in March, but a surprise rise in imports helped drive the country’s trade deficit higher than anticipated.
— Financial Times

Philippines bourse approves IPOs of Eagle Cement, Cebu Landmasters
The board of the Philippine Stock Exchange on Wednesday approved the initial public offerings of Eagle Cement Corp, and Cebu Landmasters Inc.
— Deal Street Asia

Semirara records P4.42 billion net income for first quarter 2017
In a disclosure to the Philippine Stock Exchange, the company said its net income amounted to P4.42 billion for the first three months versus last year’s P2.91 billion for the same period.
– Power Philippines

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Singapore morning newsSingapore Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Singapore can ‘partner China in one belt one road initiative’
As a developed country not short of roads and ports, Singapore may not seem like a natural partner for China’s One Belt, One Road (Obor) initiative, for which infrastructure building is a key pillar.
– The Straits Times

New Silkroutes raises revenue forecast for oil trading in FY17
NEW Silkroutes Group (NSG) has raised its revenue forecast for oil trading by 29 per cent to US$400 million for its current financial year ending June 30.
— The Business Times

Nutrition and health claims to be prohibited on formula milk: AVA
Formula milk manufacturers will not be able to use nutrition and health claims, as well as images that make drinking formula milk look attractive, once changes to Agri-Food and Veterinary Authority (AVA) regulations take effect.
— Channel NewsAsia

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Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

BoI eyes Bt1.5 tn in actual investments
THE BOARD OF INVESTMENT (BOI) is conservatively forecasting that the total value of actual investments under its tax-incentive support will reach at least Bt1 trillion during the three years to 2019, but secretary-general Hirunya Suchinai said yesterday that the board was confident of hitting Bt1.5 trillion.
– The Nation

79 listed companies report profit surge in Q1
79 listed companies in the Thai stock markets made combined profits totaling more than 110 billion baht or a 18% increase in the first quarter of 2017, according to a securities firm.
– NNT

Thailand seeks private sector help to refurbish every airport in the country
The government of Thailand has called for the private sector to invest in the expansion of 28 of the country’s regional airports, and the development of one greenfield site. The aim is to help Thailand compete with Malaysia, Singapore and Vietnam in becoming the principal aviation hub for Southeast Asia.
– GCR

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Vietnam morning newsVietnam Morning News

Compiled by John Le Fevre    @photo_journ

 

Vietnam: SonKim Land hits first close of $46m follow-up round led by EXS Capital
Vietnamese real estate developer SonKim Land Corporation has closed the first fundraising round of $46 million led by Asia-dedicated investment firm EXS Capital, the realty firm said on Wednesday.
– Deal Street Asia

Google blocks 1,500 harmful clips at Vietnam’s request
Google has blocked 1,500 clips with bad contents posted in Youtube out of a list of 2,300 such clips provided by Vietnamese authorities, according to the Authority of Broadcasting and Electric Information under the Ministry of Information and Communications.
– Vietnam Times

Urban rail faces another delay as debt grows
Despite several setbacks, investors pledged in February to put the capital city’s first elevated railway to trial operations in October. However, financial constraints have once again casted a pall over the project’s prospects.
– Viet Nam News

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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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