Asean Morning News For May 19

Asean Morning News

Compiled by AEC News Today @aecnewstoday

China, ASEAN finish draft framework for South China Sea code of conduct
After years of consultations and discussions on the implementation of the Declaration on the Conduct of Parties in the South China Sea, China and the Association of Southeast Asian Nation senior officials have finally wrapped up talks on the draft framework for the code of conduct.
– Interaksyon

TPP ministers head to Vietnam to debate pact’s fate
Negotiators and ministers from Trans-Pacific Partnership countries are set to begin deciding the future of the trade pact without the U.S.
– Nikkei Asian Review

Tax burden in Vietnam higher than in ASEAN 4
Assessing the implementation of the government’s Resolution No.35 on enterprise support and development, Minister Dung said that efforts to reform administrative procedures and improve the business investment environment, reduce costs, and encourage startups, are worthy of note.
– VIETNAMNET Bridge

Air network planned for Belt, Road connectivity
China plans to build an air network to better link countries taking part in the Belt and Road Initiative, the country’s civil aviation authority said on Tuesday.
– The Nation

Asia Rice: Thai, Vietnam Prices Hit Multi-Month High; India Stays Sluggish
Rice prices hit multi-month peak in Thailand and Vietnam this week on export prospects, while high rates in India kept buyers at bay, traders said on Thursday (18/05).
– Jakarta Globe

Japan, New Zealand underscore arbitral ruling on South China Sea, angering China
Japan Prime Minister Shinzo Abe and New Zealand Prime Minister Bill English have expressed concern over the disputed South China Sea following their meeting in Tokyo on Wednesday.
– Philstar Global

#SgGoesGlobal: ShopBack conquers six markets in under three years
From a Singapore-based team of just three people in 2014 to a regional force of 100 employees today, e-commerce cashback start-up ShopBack explains how it has managed to flourish across six nations in Asia in less than three years, and outgrow their No. 1 competitor, Ebates.com, in the region.
– Channel NewsAsia

Factbox: How do Asia-Pacific trade deals compare?
TRADE ministers from the Asia-Pacific Economic Cooperation (APEC) grouping will discuss various trade agreements or possible agreements around their meeting in Hanoi, Vietnam, this weekend.
– Borneo Post/ Reuters

Australia: Applications for Endeavour Scholarships now open
The Australian government’s Department of Education and Training has opened its Endeavour Scholarships and Fellowships for applications for the 2018 academic year, SBS reports.
– SI News

Worry dogs last Pak Bang Dam forum
LOCAL PEOPLE along the Mekong River in Thailand have expressed concerns over the Pak Bang Dam in Laos and urged the Lao government to reconsider the project amid worries it could cause major flooding in Chiang Rai and destroy people’s livelihoods.
– The Nation

ASEAN Market Watch: Thailand GDP Growth, Malaysia Manufacturing Sector, and Singapore Retail Sales
Thailand: First quarter GDP growth fastest in four years; Malaysia: Manufacturing sector continues to register steady growth; Singapore: Retail sales recover in March after previous month’s decline
– Asean Briefing

Is China unstoppable in the South China Sea?
Manila and Beijing are to hold direct talks on the South China Sea for the first time Friday, a move that may strengthen Beijing’s hand in the festering dispute.
– CNN

ASEAN Energy Storage Devices Market Blueprint and Forecasts, 2014 to 2020
Future Market Insights has announced the addition of the “Energy Storage Devices Market: ASEAN Industry Analysis and Opportunity Assessment 2014 – 2020″ report to their offering.
– Digital Journal

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Cambodia Morning News

Compiled by John Le Fevre @photo_journ

New Voter Registration Procedure Could Disenfranchise 300,000 Cambodians: Analysts
More than 300,000 Cambodians may not be able to vote in next month’s commune elections because they do not possess identification cards required for casting a ballot under a new legal procedure put in place by the country’s election commission, election observers and analysts said on Thursday.
– RFA

ANZ distances itself from Cambodian partner
Australian financial institution ANZ has distanced itself from the Royal Group, its local partner in a Cambodian joint venture bank, following police reports linking the group to illegal logging activities.
– The Phnom Penh Post

Cambodia Rejects Report Detailing Timber Smuggling to Vietnam
Cambodia’s government on Thursday rejected a report by a U.K.-based watchdog that warned of largescale deforestation and illegal sales of timber across the border to buyers in Vietnam, saying its findings do not present an accurate portrayal of the situation.
– RFA

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Indonesia Morning News

Compiled by Stella-maris Ewudolu @Estee

Indonesia And UAE Talk $5 Billion Energy Partnership
Talks between Indonesia and the United Arab Emirates could bring the launch of a $5 billion energy project, according to news from a recent meeting between Indonesian President Joko Widodo and UAE Energy Minister Suhail Mohammed Faraj Al Mazrouei.
– Oil Price

Indonesia‘s Carmakers Take Aim at Australian Market
When Indonesian President Joko Widodo met Toyota Indonesia vice president Warih Andang Tjahjono recently, one of the main topics of discussion was Indonesia’s export potential, with the country’s leader urging Toyota to try to ship more cars abroad.
– Netral English

Bank Indonesia Predicts 5.1 Percent Growth
The Governor of Bank Indonesia Agus Martowarojo has predicted 5.1 percent growth in the second quarter of 2017. If achieved, he said, the second and third quarter may see 5.2 percent growth. “The first quarter also grew higher compared to the previous one,” he said after the meeting of Bank Indonesia Governor Council.
– TEMPO

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Lao PDR Morning News

Compiled by Stella-maris Ewudolu @Estee

NA approves measures on price controls
The National Assembly has approved measures proposed by the government on the management of goods prices and service fees while also recommending that the related Prime Ministerial Decree be upgraded to a law.
– Vientiane Times

Laos, China ink deals to deepen cooperation
Laos and China signed nine cooperation agreements in Beijing this week after a meeting between the two countries’ top leaders.
– Vientiane Times

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Malaysia Morning News

Compiled by Stella-maris Ewudolu @Estee

Celcom, Ericsson bring 5G to Malaysia
The nation’s telecommunication technology is set to evolve into a whole new level when Celcom Axiata Bhd and Ericsson yesterday performed Malaysia’s first 5G trial.
– Borneo Post/ Bernama

Fonterra reopens Malaysian milk powder plant
Fonterra has reopened its milk powder manufacturing plant in Malaysia following a NZ$7m (US$4.8m) investment to boost manufacturing efficiencies and ensure it continues to meet health and safety, and food safety and quality standards.
– Food Navigator-Asia

1,500 SMEs to be listed on AliBaba.com
A total of 1,500 small and medium enterprises (SMEs) will be listed on the AliBaba.com e-commerce platform by year-end, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
– Borneo Post/ Bernama

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Myanmar Morning News

Compiled by Stella-maris Ewudolu @Estee

After Heady Optimism About the Myanmar Market, Then Came the Reality Check
When Myanmar was ruled by a military junta and isolated by the international community, Western brands were scarce in the Southeast Asian nation. Today, billboards advertise Coca-Cola, Pond’s face wash and Nescafé coffee sachets.
– Ad Age

In southern Rakhine State, local livelihoods at risk as forest cover disappears
For years, a natural buffer of thick forest kept the annual monsoon waters from inundating Sein Win’s Bokalay Kyaungone village, sustaining a way of life even under harsh conditions.
– Mizzima

Myanmar needs to change with the times: Speaker
Myanmar’s national interests are now its main priority as policies and processes are transforming the nation in the context of international changes.
– The Myanmar Times

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Philippines Morning News

Compiled by Stella-maris Ewudolu @Estee

Philippines’ Duterte bans smoking in public, and asks citizens to help
President Rodrigo Duterte, who has overseen a deadly campaign to eradicate drug use in the Philippines, has now ordered a strict public ban on smoking and called on citizens to help local authorities apprehend smokers.
– The Straits Times

BIR urges DOJ to indict top officials of Mighty Corp
The Bureau of Internal Revenue (BIR) on Thursday urged the Department of Justice (DOJ) to order the indictment of top officials of homegrown cigarette manufacturer Mighty Corp. in the P9.6-billion tax evasion case it filed against them.
– Philippine Daily Inquirer

PH, Russia to sign defense deal during Duterte visit
The Philippines and Russia will sign a defense cooperation agreement and other bilateral deals when President Rodrigo Duterte goes on a 5-day official visit to the country next week.
– Rappler

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Singapore Morning News

Compiled by Stella-maris Ewudolu @Estee

Noble Group lifeline depends on bank support for $2b loan
Noble Group Ltd.’s stock and bonds rose Thursday after people familiar with the matter said the embattled commodity trader has approached lenders to replace a credit facility with a new $2 billion loan. Now investor focus shifts to bank support for that lifeline.
– Deal Street Asia

Singapore Airlines swings to S$138m net loss in Q4
Singapore Airlines (SIA) on Thursday (May 18) reported a net loss of S$138 million in its fourth quarter from January to March, reversing from a S$225 million net profit in the same period last year.
– Channel NewsAsia

Singapore Land Gets Record S$1 Billion Bid From China Buyers
A residential plot in Singapore may fetch a record price for a government land sale, with a Chinese consortium putting in the highest bid at S$1 billion ($718 million).
– Bloomberg

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Thailand Morning News

Compiled by John Le Fevre @photo_journ

Economist blames government for inefficient budget management
THE GOVERNMENT’S move to increase the central fund demonstrates that state agencies are functioning poorly, said Sakon Waranyuwattana, dean of Thammasat University’s faculty of economics.
– The Nation

Thailand 4.0: Investing in Aviation and MRO Development
2017 is going to be an important year for Thailand’s future. The Thailand 4.0 governmental investment program is likely to change the country and catapult it in a new, advanced era.
– AviationPros

Car export in April drops 14.37 percent
Car export for the month of April dropped 14.37 percent to 68,900 units from last April’s 80,400 units, representing the lowest export in 48 months, said Mr Surapong Paisitpattanapong, spokesman of the automotive industry of the Federation of Thai Industries.
– Thai PBS

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Vietnam Morning News

Compiled by John Le Fevre @photo_journ

Shares sink on investor sentiment
Shares fell on both local exchanges on May 18, as investor confidence was weakened by negative global market trends and investors continued to seek short-term profits.
VietnamPlus/ VNA

European businesses unhappy with tax authorities’ handling of filing errors
ow to improve the business environment in Viet Nam with respect to customs, trade facilitation measures and the tax regime by capitalising on the opportunities thrown up by the EU — Viet Nam Free Trade Agreement were discussed at a European Chamber of Commerce in Viet Nam (EuroCham) meeting in Ha Noi on Tuesday.
– Viet Nam News bizhub

Vinamilk imports over 2,000 cows from US
The Vietnam Dairy Products Joint Stock Company (Vinamilk) has imported more than 2,000 Holstein Friesian cows from the US.
VietnamPlus/ VNA

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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.