Asean Morning News For September 28

Asean Morning News For September 28

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

ASEAN LNG DEMAND SEEN AT 35MN MT/YR BY 2020
Along with south Asian nations like India, Pakistan and Bangladesh, the Association of Southeast Asian Nations (Asean) region is expected to be a major consumer of LNG in the decade ahead primarily because of expanding demand for power. The region which consists of Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia has installed 209 GW of power capacity as of this year, and needs an additional 270 GW of new capacity by 2035, to meets its burgeoning demand.
— Natural Gas World

Sino-ASEAN arbitration panel proposed to tackle Belt and Road disputes
THE head of Brunei’s arbitration association called for a panel of ASEAN and Chinese arbitrators to be established in order to create a dispute-resolution system which covers private companies involved in projects related to the Belt and Road Initiative (BRI). Contract disputes are inevitably a risk in large-scale infrastructure projects between jurisdictions which are at different stages of development and legal maturity.
— Myanmar Times

Asean’s plastic shame
Multilateral firms are polluting oceans by selling goods packaged in plastic to the Philippines, Indonesia and their neighbours, Greenpeace argues. It singled out Nestle, Unilever and Procter & Gamble among the worst five offenders.
— Asean Economist

SE Asia Stocks-Philippines snaps 3-day losing streak; Singapore rises
Most Southeast Asian stock markets trimmed losses to end flat on Wednesday, as investors digested comments by U.S. Federal Reserve Chair Janet Yellen on a possible rate increase, with the Philippine index snapping three sessions of declines and Singapore up on financials.
— Reuters

Digital ad spend to grow by double digits in Southeast Asia
As a result of heavy mobile investment, Digital ad spend in six Southeast Asia cities – namely Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam – will increase by double digits in 2017 and 2018, according to eMarketer.
— The Drum

When growth hot spots connect
Already fragile government reserves ran dry. By May 1998, Indonesia’s sovereign rating had fallen to CCC+.
— The New Paper

Malaysia inks cross-border power deal with Thailand and Laos
MALAYSIA will be able to purchase up to 100mw of hydropower from Laos starting next year, thanks to the signing of the Energy Purchase of Wheeling Agreement between Malaysia, Laos and Thailand.
— The Malaysian Insight

Rohingya issue shows flaws in Asean’s stand on human rights
The Association of South-east Asian Nations (Asean) Charter took effect in 2008. Its principles include enhancing regional peace, the peaceful settlement of disputes, the renunciation of aggression, upholding international law, including humanitarian law, and the promotion of social justice.
— Today Online

GeTs, SLA set to boost ASEAN trade
hive (highly interconnected & vibrant e-trade), a freight forwarder community centric platform powered by Global eTrade Services (GeTS, a subsidiary of CrimsonLogic, and a leading provider of eGovernment products and services headquartered in Singapore) is set to facilitate connectivity between freight forwarders, their business partners and Customs agencies.
— Logistics Insight Asia

Agriculture is a game changer
Back in April, when we held the first Prosperity for All Summit, one of the highlighted sectors was agriculture. As we all know, the Philippines, Thailand, and Vietnam, are some of the leading agriculture countries in the region. But despite the unceasing development programs, there are a lot of things to be done to help strengthen the sector.
— The Philippine Star

Cambodia morning newsCambodia Morning News

Compiled by Kongleaphy Keam    @kongleaphy1

 

Cambodia Bitcoin Payment Gateway Expected to Boost Cryptocurrency Use
In a world of increasing uncertainty cryptocurrencies are proving to be an attractive alternate to a growing number of people over storing physical currency in bricks and mortar banks. The opening of Cambodia’s first bitcoin payment gateway is expected to see the number of people using the alternate currency in the kingdom increase, as it has throughout the region.
ACE News Today

China firm shows plans for capital skytrain
China Sky Railway Group, a privately owned Chinese company that produces light rail trains, has announced plans to operate a 10-kilometre rail link between Phnom Penh’s Royal Palace and international airport by May of next year, according to a report yesterday in the China Daily newspaper.
The Phnom Penh Post

France to send 300 business representatives to Cambodia
Director of Fondation Prospective et Innovation (FPI) in France and former prime minister Jean-Pierre Raffarin recently told a visiting Cambodian delegation led by commerce minister Pan Sorasak that he will meet about 300 French business representatives to explore investment opportunities in Cambodia in near future. He also appreciated Cambodia’s rapid growth.
Fibre2Fashion

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Limit of Import Duty on Goods Proposed Up to USD2,500 per Person
The imposition limit of import duty on goods from overseas is proposed to be increased by 10-fold, to USD 2,500 per person and USD10,000 per family.
— Netral News

7-Eleven Indonesia Parent Company Lost IDR642 Billion in First Semester
Modern Internasional (MDRN) suffered nett loss of IDR642,03 billion (IDR143 per share) in the first semester of 2017. The nett loss increased drastically than last year’s first period nett loss of IDR51,48 billion (IDR11 per share).
— Netral News

Street Hawkers Pave the Way to Indonesia’s First E-Commerce IPO
The first Indonesian e-commerce startup to go public will test investors’ appetite for technology companies that hail from Southeast Asia’s largest economy.
— Bloomberg Quint

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Tourism industry positively impacting poverty reduction
As tourism is the third largest export industry in the world today after chemicals and fuel, Laos is placing greater importance on the development of this industry to boost growth and alleviate poverty.
Vientiane Times 

Lao govt misrepresented legal battle with Thai-Lao Lignite Co
The Lao Ministry of Planning and Investments presents a completely false picture of the facts and legal status of the arbitration, according to the claimant, Thai-Lao Lignite Company Limited (TLL), a company of Thailand’s Nganthavee Group.
The Nation

Three Thais, Lao accused of smuggling huge haul of meth
Police announced on Wednesday that four men – three Thais and a Lao – had been arrested two days earlier for allegedly smuggling four million methamphetamine pills into the country.
The Nation

See here for more of today’s Lao Morning News

Malaysia morning newsMalaysia Morning News

Compiled by Kongleaphy Keam    @kongleaphy1

 

Malaysia Airlines to buy 35 wide-bodied planes
Malaysia Airlines plans to buy 35 wide-bodied planes over the next year as part of a fleet restructuring to rebuild its premium business as it seeks to return to profitability by 2018, its CEO said Wednesday.
The Seattle Times

Malaysia inks cross-border power deal with Thailand and Laos
MALAYSIA will be able to purchase up to 100mw of hydropower from Laos starting next year, thanks to the signing of the Energy Purchase of Wheeling Agreement between Malaysia, Laos and Thailand.
The Malaysian Insight

HK and Malaysia are biggest Asian growth surprises, says ADB
Hong Kong and Malaysia are proving to be the biggest growth surprises in Asia. The two nations received the largest upgrades for this year among major economies in the Asian Development Bank’s latest outlook released on Tuesday. Meanwhile, India received the steepest downgrade.
The Star Online

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Sreypov Men    @MenSreypov

 

Economics and Democracy: Myanmar’s Myriad Challenges
The furor in the international community over the actions of the Myanmar armed forces in Rakhine state in recent weeks has led to widespread criticism of the civilian National League for Democracy (NLD) government, unofficially led by Daw Aung San Suu Kyi.
— The Diplomat

Rohingya crisis: Government will take over burned land, says Myanmar Minister
Myanmar’s government will manage the redevelopment of villages torched during violence in Rakhine state that has sent nearly half a million Rohingya Muslims fleeing to Bangladesh, a minister was reported on Wednesday as saying.
— The Economic Times

Myanmar-based diplomats, UN agencies invited to study Rakhine situation
Foreign diplomats and United Nations agency officials based in Myanmar have been invited to visit Rakhine State to study the situation there, permanent secretary of the Foreign Affairs Ministry Kyaw Zeya told the Daily Eleven on Tuesday.
— Eleven Myanmar

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

World Bank report highlights education underspending in past 10 years
Despite efforts to increase its budget in the past 10 years, the education sector in the Philippines still suffers from lack of funding due to underspending, according to a new World Bank report.
— Business Mirror

Philippines’ BPO industry sees slower annual growth of 9% until 2022
The country’s business process outsourcing (BPO) industry expects annual growth to slow down to 9% until 2022, due to its larger scale, sluggish industry growth globally, and security headwinds in the Philippines.
— Rappler

Globe allots add’l $100-million capex for mobile data
Globe Telecom, Inc. is spending additional US$100 million for its mobile data network expansion this year, bringing its full 2017 capital expenditure (capex) to around US$850 million, the telco firm disclosed.
— Manila Bulletin

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat @leakhenakhat

 

Singapore’s population size remains stable at 5.61m, with fewer non-residents
There was little change in Singapore’s population size from 2016 to 2017, with total population growing by 0.1 per cent to 5.61 million.
Channel NewsAsia 

S’pore ‘one of the best cities for driving, but not for road safety’
Singapore has been ranked among the best cities in the world for driving, but the roads may not be as safe as statistics tout them to be, two separate studies have shown.
Today Online 

Persecuted Singapore blogger free in America
Teen blogger Amos Yee is finally a free man in the United States after a three-member panel at the Board of Immigration Appeals ruled unanimously to grant him asylum, making him the first Singaporean in years to receive political refuge in the West.
Asia Times 

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

E-commerce market heading for Bt2.8 trillion this year
THAILAND’S e-commerce market is on track to reach Bt2.8 trillion by the end of this year, a gain of almost 10 per cent from the previous year, according to a government agency monitoring the sector.
— The Nation

ADB forecasts strong economic growth in Asian region
The Asian Development Bank (ADB) has forecast that Thailand’s gross domestic product (GDP) will expand by 3.5% this year on the back of strong export figures, while government investment policies are expected to lead to 3.6% GDP growth next year.
— NBT World (video)

Thailand to Kick Start $45 Billion Economic Revamp Before Polls
Thailand’s military government is looking to start construction of projects under a 1.5 trillion baht ($45 billion) investment plan before the country’s possible return to democracy late next year.
— Bloomberg

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

 

Vietnam finance ministry unit proposes taking over brewers’ privatisation plans
A unit at Vietnam’s finance ministry has proposed taking over privatization plans for top brewers Sabeco and Habeco if the trade ministry fails to publish a privatization prospectus by the end of the month.
— Reuters

Local firms dominate e-commerce in Vietnam
The study, conducted from April to June this year, compared 50 e-commerce websites in Viet Nam in various parameters including traffic (based on Similarweb), application downloads and social media followers.
— VietnamNet Bridge

Vietnam has a debt problem
Last month, Vietnam’s Ministry of Finance (MoF) proposed a plan for raising various taxes to curb rising budget deficits and public debt. It’s not immediately clear, though, the plan will work.
— Asia Times

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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