Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
ASEAN manufacturing PMI down to 50.3 in September
The Nikkei ASEAN Manufacturing Purchasing Managers’ Index, or PMI, decreased marginally in September, but signaled a further improvement in operating conditions across the region.
— Nikkei Asian Review
INDONESIA STOCKS LEAD SOUTHEAST ASIAN PEERS
The logo of Bank Indonesia is seen on a window in the bank’s lobby in Jakarta. Indonesian stocks rose on Friday after signs that the centra bank will pause rate cuts. (Reuters photo)
— Mendon Journal
Rohingya crisis splits Asean on religious lines
Clear divisions are emerging among members of the Association of Southeast Asian Nations (Asean) over Myanmar’s military operations in Rakhine state, a diplomatic divide that threatens to split the regional grouping on religious lines.
— Asia Times
China-led AIIB to lend $207.6 million for Metro Manila’s flood control
A China-led infrastructure investment bank has given its go-ahead for a US$207.63-million (Bt6.919-billion) share in financing the project aimed at improving flood management in Metro Manila.
— The Nation
Are minilaterals the future of ASEAN security?
The Indonesia–Malaysia–Philippines Trilateral Maritime Patrol (Indomalphi) implemented its first joint patrol in June 2017. Almost a year since signing the trilateral framework in August 2016, the recent attack by the Maute group in the Philippines emphasised the urgent need for cooperation.
— East Asia Forum
How America is Losing the Battle for The South China Sea
What a difference a year makes. In late summer 2016, there was some hope the July 2016 Permanent Court of Arbitration’s ruling in favor of the Philippine interpretation of the UN Convention on the Law of the Sea regarding the Spratly Islands and Scarborough Shoal would curtail Beijing’s subsequent activity in the South China Sea (despite China’s refusal to even participate in the arbitration case or recognize the court’s jurisdiction, let alone accept the ruling).
— Scout
END OF THE ROAD FOR INDONESIA’S MOTORBIKES?
Motorbike regulations are creating more and more bumps in the road for commuters throughout Southeast Asia, as major cities try to curb two-wheelers to reduce traffic and air pollution.
— South China Morning Post
Planes, Trains and Automobiles: Lazada’s Logistics Battle to Win SE Asia
Southeast Asia is on the verge of a logistics “boom” thanks to e-commerce, but will require huge investment in cities and last-mile networks to cope, says Pierre Poignant, the man behind the systems that keep Alibaba-owned Lazada moving.
— Jakarta Globe
Asean should push for further trade liberalization — PIDS
The Association of Southeast Asian Nations (ASEAN) should continue to push for trade liberalization and should consider inclusion in the China-led Regional Comprehensive Economic Partnership (RCEP) to counter rising protectionism in the West, said state-run think tank Philippine Institute for Development Studies (PIDS).
— The Philippine Star
Patience needed for ASEAN exits: Hanno Stegmann, APACIG
Hanno Stegmann, the chief executive of Asia Pacific Internet Group (APACIG), a joint venture (JV) between venture builder Rocket Internet and telecommunications firm Ooredoo, maintains that Rocket Internet and its affiliates are firmly committed to the markets of emerging Asia, even as competition rises in the region.
— Deal Street Asia
Cambodia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Cambodia’s famed Angkor earns nearly 76 mln USD in 9 months
Revenue from ticket sales to foreigners visiting Cambodia’s Angkor archeological park hit 75.7 million U.S. dollars in the first nine months of 2017, up 70 percent compared to the same period last year, according to a press release on Sunday.
—Xinhua
Cambodia ‘Searching for New Export Markets’ in Case of U.S. Sanctions
ambodia’s foreign ministry is not concerned by visa restrictions imposed on senior officials by the Trump administration, an official has said.
—VOA Cambodia
Cambodia falls further behind in competitiveness
Cambodia slid further down the rankings of global competitiveness on this year’s Global Competitiveness Report, which showed the Kingdom dropping five notches on the annual index to hold its position as the second least competitive country in Asean after Laos.
—The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Indonesia’s manufacturing PMI down to 50.4 in September
The Nikkei Indonesia Manufacturing Purchasing Managers’ Index, or PMI, fell slightly to 50.4 in September from 50.7 in August.
— Nikkei Asian Review
Exclusive: Indonesia startup M Cash Integrasi sets IPO price band, receives strong anchor book
Indonesia’s second e-commerce startup to go public, digital kiosk service provider M Cash Integrasi (MCI), has set its IPO price at between Rp 1,300 and Rp 1,450 ($0.097 – $0.11), DEALSTREETASIA has learnt.
— Deal Street Asia
Indonesia’s First Billion-Dollar Startup Looks to Expand Abroad
Go-Jek, Indonesia’s first billion-dollar startup, is looking to expand its ride-hailing services to three to four countries in Southeast Asia, escalating its rivalry with Grab and Uber Technologies Inc.
— Bloomberg
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
More investment in human resources needed: economist
While the Asia-Pacific region is experiencing population ageing at an unprecedented rate, the growing number of young people in Laos can provide a significant momentum in driving economic growth.
— Vientiane Times
US firms see huge opportunities for business in Laos
US Secretary of Commerce Wilbur Ross says Laos presents a significant opportunity for US companies in the energy and infrastructure sectors.
— Vientiane Times
Japan funds job skills training for disabled people in Huaphan
The Japanese government recently granted US$209,543 to support a job creation project for people with disabilities in Huaphan province.
— Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Johari: Govt has no plans to raise taxes in 2018 Budget
The government is not planning to raise taxes in the 2018 Budget as it will burden the people currently dealing with the higher cost of living, said Second Finance Minister, Datuk Seri Johari Abdul Ghani.
—The Borneo Post
Govt increases aid to Sabah entrepreneurs to RM100 million
Entrepreneurs in Sabah stand to gain with the federal government more than doubling its financial assistance through the Perbadanan Usahawan Nasional Berhad (PUNB) from RM48 million to RM100 million next year.
—Free Malaysia Today
IRB: No plans to amend Act to allow filing of returns with unaudited accounts
The Inland Revenue Board (IRB) will not be making amendments to the Income Tax Act 1967 to allow companies exempted from audit by Companies Commission of Malaysia (SSM) to file returns using unaudited accounts.
—The Sun Daily
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Sreypov Men @MenSreypov
Myanmar approves over $4bn FDI in first half of current fiscal
MYANMAR has approved US$4.35 billion (Bt145 billion) in foreign direct investment (FDI) in the first six months of fiscal year 2017-18 which started April 1, and hopes to receive much more in the second half, according to San Myint, deputy director general at the Directorate of Investment and Company Administration.
— The Nation
Myanmar refugee exodus tops 0.5 million
He trekked to Bangladesh as part of an exodus of a half million people from Myanmar, the largest refugee crisis to hit Asia in decades. But after climbing out of a boat on a creek last Friday, Mohamed Rafiq could go no further.
— Business Mirror
More investments are left to allow: DICA
Myanmar Investment Commission (MIC) is left to allow up to 15 foreign investments worth of US$400 million, said Deputy Director General San Myint from the Directorate of Investment and Companies Administration (DICA).
— Eleven Myanmar
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Philippines manufacturing PMI inches up in September
The Nikkei Philippines Manufacturing Purchasing Managers’ Index, or PMI, edged up in September, indicating the continued subdued growth of the manufacturing economy.
— Nikkei Asian Review
Senate probes Globe, PLDT on extra fee for paper billings
THE Senate is set to look into the additional fee being imposed by telecommunication companies or telcos on subscribers who still want to receive their monthly bill in paper.
— The Manila Times
Philippines to see steady investment from Chinese firms ‘excited’ by the opportunities, top official says
Chinese investors are excited about business opportunities in the Philippines, and after an early surge in the first half of this year, investment should grow steadily, according to the Philippines’ economic planning chief.
— South China Morning Post
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Global Logistic Properties expands into Europe with $2.8b acquisition
Global Logistic Properties (GLP) said on Monday it has agreed to acquire Gazely, a leading European logistics platform, for about $2.8 billion, as part of its expansion into Europe.
— DealStreetAsia
Uber may be under CPIB probe over car buys: industry talk
RIDE-hailing heavyweight Uber may be involved in a probe related to car purchases made by its car rental company Lion City Rental (LCR).
— The Business Times
Commentary: Who’s responsible for combating corruption in Singapore?
Singapore is recognised around the world for its zero-tolerance stance on bribery and corruption. The country is the only Asian country to have consistently ranked among the top ten least corrupt countries in the world, according to Transparency International’s Corruption Perceptions Index.
— Channel NewsAsia
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
BoT Act: Banks must help to bail out peers
The Thai central bank has amended section 19 of the Bank of Thailand Act to clearly state that financial institutions must be mutually responsible in shouldering the costs incurred from bailing out financially…
— Bangkok Post
Golden Week brings Phuket boon in Chinese property hunters
The CEO of China’s largest international property website has predicted huge growth in the interest in Phuket property from Chinese buyers in the upcoming “Golden Week”, which this year starting from today (Oct 1) will be eight-days long as the National Day Golden Week coincides with the Mid-Autumn Festival.
— Phuket News
Thailand’s manufacturing PMI rebounds to expansion in September
The Nikkei Thailand Manufacturing Purchasing Managers’ Index, or PMI, rebounded to growth for the first time in three months in September, with both output and new orders growing.
— Nikkei Asian Review
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
In Vietnam, corruption can mean death. But so what?
Unless the day-to-day corruption that affects the masses is rooted out, any anti-graft drive would be just cosmetic, analysts say.
— VnExpress
Ministry’s historic move eliminates hundreds of business prerequisites
MOIT eliminated 675 business and investment requirements, or 55.5 percent of the total preconditions for 27 business areas. With the move, the number of remaining conditions is 541 instead of the expected 752.
— VietnamNet Bridge
Warburg Pincus, Credit Suisse together hold more than 20% of Vincom Retail
Warburg Pincus and Credit Suisse AG, have converted their preferred stocks, which they held after the $300 million investment into Vincom Retail, to collectively hold 20.22 per cent of the Vietnamese retailer.
— DealStreetAsia
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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