Asean Morning News
Compiled by AEC News Today @aecnewstoday
Asian exports may be about to slow, from great to pretty good
The Great Asian Export Spurt may be about to end, replaced by a stretch of merely good exports.
– The Edge Markets
ASEAN: There Can Be No Digital Economy Without Security
Across the world, digital technologies are disrupting industries, improving lives and propelling progress. Similarly, we see these changes taking place in ASEAN (Association of Southeast Asian Nations) countries, building on the fundamentals for digitization that are in place—such as the growing economies of Thailand and Indonesia, which have highly digital and young populations (50 percent of ASEAN’s population is under 30 years of age) and an extremely high literacy rate of 94 percent. Infrastructure is also well developed—90 percent of people in the region have Internet access.
– Brink Asia
Exclusive: 500 TukTuks to launch second vehicle in Q4, tap neighbouring countries
500 TukTuks, a Thailand-focused micro fund launched by Silicon Valley-based venture capital firm 500 Startups, expects to close its second vehicle at $30 million and launch it in the fourth quarter this year.
– Deal Street Asia
The shopping habits of affluent APAC spenders on holiday
Marketers should cast a wide and multilingual digital net to capture their share of spending by travellers from APAC nations, according to new research by Publicis Media and Publicis Communications.
– Campaign Asia
Philippines’ Duterte says Turkey, Mongolia could join ASEAN
Controversial Philippine President Rodrigo Duterte said on Tuesday he would push for the inclusion of Turkey and Mongolia in a grouping of Southeast Asian nations, dismissing concerns about their geographic location.
7 News/ AFP
Italy seeks stronger economic ties with ASEAN
Italy has expressed interest in strengthening economic ties with Southeast Asia during the first meeting of a two-day event involving high-level dialogue on ASEAN-Italy economic relations starting Monday.
– The Jakarta Post
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Cambodia Morning News
Compiled by John Le Fevre @photo_journ
Tan Chong files RM143mil countersuit in Nissan distributorship battle
Tan Chong Motor Holdings Bhd (TCMH), through its subsidiaries, has filed a US$33mil (RM142.8mil) countersuit against Narita Motorcare (Cambodia) Co Ltd and its representatives in defence of the group’s sole and exclusive right to distribute Nissan vehicles in Cambodia.
– The Star Online
Cambodia anticipates peace, prosperity and development through belt and road campaign
The “Belt and Road” initiative proposed by Chinese President Xi Jinping will bring peace,prosperity and development to Cambodia, Southeast Asia, and even the world at large, said Princess Norodom Arunrasmy of Cambodia in a recent exclusive interview with People’s Daily.
– News Ghana
SDIP set to mobilise infrastructure funding
Cambodia hopes to leverage its membership in the Sustainable Development Investment Partnership (SDIP) to access much-needed funding for large-scale infrastructure development, state officials have said.
– The Phnom Penh Post
See here for more of today’s Cambodia Morning News >>>
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Indonesia Morning News
Compiled by Stella-maris Ewudolu @Estee
Indonesia sets a cap on how much foreign cash can be carried in
Indonesia next year will impose a ceiling on how much foreign cash an individual can bring into the country, a central bank official said on Monday.
– FMT
Indonesia, China Consortium Sign $4.5b Loan for High Speed Railway Project
A consortium of Indonesian and Chinese companies building Indonesia’s first high speed railway has signed a $4.5 billion loan with China Development Bank, the government said on Monday (15/05).
– Jakarta Globe/ Reuters
OJK suspends online services due to computer virus
The Financial Services Authority (OJK) on Monday temporary closed its internet-based services and called on financial institutions to ensure the security of their IT networks against the WannaCry ransomware.
– The Jakarta Post
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Lao PDR Morning News
Compiled by Stella-maris Ewudolu @Estee
Xi calls for deeper cooperation with Laos
Chinese President Xi Jinping on Tuesday called for deepening cooperation with Laos and creating better future for bilateral ties by taking the opportunity of jointly promoting the Belt and Road Initiative.
– Ecns
Rohas Tecnic rises 4.04% on bagging US$70m job in Laos
Shares of Rohas Tecnic Bhd rose 4.04% this morning after the company, via its wholly-owned subsidiary Rohas-Euco Industries Bhd (REI), has bagged a US$70 million (RM300 million) contract from Electricite du Lao to supply and construct transmission lines, substations and distribution lines in Laos.
– The Edge Markets
Belt and Road Forum: President calls for support for least developed, landlocked countries
President Bounnhang Vorachit has called for greater support and cooperation to be extended to least developed and landlocked countries in developing their connectivity systems under the Belt and Road Initiative.
– Vientiane Times
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Malaysia Morning News
Compiled by Stella-maris Ewudolu @Estee
JJPTR founder in jail, might not make company dinner Saturday
JJPTR founder Johnson Lee may not be able to make that company dinner this Saturday at Berjaya Times Square. He and two close associates were arrested early this morning at 4:30am in Petaling Jaya. The arrests come off the heels of police reports being lodged by Investigating Officers.
– Coconuts KL
Mega rail projects on the cards for construction sector
We have identified four mega rail projects that will be rolled out over the next two to three years. These include the East Coast Rail Link (ECRL), Kuala Lumpur-Singapore High-Speed Rail (HSR), Gemas-Johor Baru electrified double-tracking (EDT) project and mass rapid transit 3 (MRT3) Circle Line. Collectively, these mega rail projects will have a total cost of RM171 billion.
– The Edge Markets
Malaysia faces the threat of ‘unwanted tourists’
Malaysia has been made the “unwitting” receiver of foreign fighters who were stopped from entering Syria to fight alongside the Islamic State.
– Today
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Myanmar Morning News
Compiled by Stella-maris Ewudolu @Estee
Hong Kong, Shanghai and Singapore to offer support for gold exchange market
The operators of gold exchange in Hong Kong, Shanghai and Singapore have offered the Myanmar government professional and technical support in order to establish a bourse in the country for trading the precious, according to the Myanmar Gold Entrepreneurs Association (MGEA).
– Myanmar Times
Govt must build capacity to attract responsible businesses: MCRB
Myanmar’s aim to become Asia’s last frontier may not be realised if the government fails to urgently address the challenges it faces in promoting responsible businesses, according to Vicky Bowman, director of Myanmar Centre for Responsible Business.
– Eleven
China’s deepening imprint on Myanmar in Mandalay
In a dusty corner of Mandalay, rows of Chinese nationals sit impassively by tables lined with white cloth on a betel-splattered sidewalk. Burmese traders crowd before them, holding up chunks of raw jade or sacks of bangles in a bid to interest them. The prospective buyers scrutinise the offerings, rejecting some with a flick of their finger.
– The Straits Times
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Philippines Morning News
Compiled by Stella-maris Ewudolu @Estee
International court may be next for Duterte
Philippine President Rodrigo Duterte acknowledged Tuesday that allegations he induced extrajudicial killings in his war on drugs could be raised to the International Criminal Court (ICC) after an impeachment case failed in the House of Representatives.
– Bangkok Post/ AP
Philippines’ Duterte says Turkey, Mongolia could join ASEAN
Controversial Philippine President Rodrigo Duterte said Tuesday he would push for the inclusion of Turkey and Mongolia in a grouping of Southeast Asian nations, dismissing concerns about their geographic location.
– The Daily Star
Duterte: Talks on disputed waters won’t affect PH-China agreements
President Duterte assured that the start of the bilateral consultative mechanism on the disputed South China Sea between the Philippines and China will not affect the different agreements signed between the two countries.
– Manila Bulletin
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Singapore Morning News
Compiled by Stella-maris Ewudolu @Estee
Singapore navy to acquire two more German-made Type 218SG submarines
Two more German-made Type 218SG submarines will join the Republic of Singapore Navy’s (RSN) fleet from 2024, Defence Minister Ng Eng Hen announced at the International Maritime Defence Exhibition on Tuesday (May 16).
– Today
ICT sector hits 27% jump in job postings in Q1
A study by JobTech revealed that there is an increase of more than 700 unique online job postings in Singapore’s ICT sector in 1Q17, up from last quarter’s recorded job posting of around 2,600.
– Singapore Business Review
AP, Singapore ink pact for developing startups in Amaravati area
Andhra Pradesh government on Monday inked a pact with Singapore for developing an area of 6.84 km at capital Amaravati as startup area in phases.
– FirstPost
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Thailand Morning News
Compiled by John Le Fevre @photo_journ
Facebook faces immediate shutdown threat
The Thai Internet Service Provider Association (Tispa) says it is under government pressure to immediately shut down the all access to Facebook as early as Tuesday morning, over the social medium’s refusal to take down every post dictated.
– Bangkok Post
More than 7,000 SMEs look for financial support: Industry Ministry
More than 7,000 Small and Medium Enterprises (SMEs) have requested for financial support over the past several months.
– NNT
First quarter sees poorer results for property sector, but presales looking good
MOST OF the top 10 SET-listed property firms reported lower revenue and net profit in the first quarter compared with the same period last year, but their presales grew by as much as 14 per cent, attributed to an improving economy.
– The Nation
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Vietnam Morning News
Compiled by John Le Fevre @photo_journ
Online sales finally begin to bear fruit
The Vietnam E-commerce Association (VECOM) estimates that with a growth rate of 30-50 percent per annum, Vietnam’s e-commerce market value may reach $10 billion after five years.
– VIETNAMNET Bridge
China-Vietnam communique highlights project financing, rail construction
China will help Vietnam secure Chinese preferential loans and borrow from a multilateral development bank to finance infrastructure and other joint projects.
– Ecns
Hanoi’s water supply forecast to run dry during hot summer
Officials say the current system is likely to spring a leak as temperatures and demand rise over the summer.
– 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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