Asean Morning News For April 13

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Razer, Lazada team up for Southeast Asia digital game store
Razer and Lazada are joining forces to bring gamers in Southeast Asia the gaming goods.
— Rappler

Trade War Is Risk for Export-Led Southeast Asia, World Bank Says
The World Bank warned that a trade war between the U.S. and China will hurt economies in Southeast Asia since they rely on exports for growth.
— Bloomberg

Businesses in Southeast Asia at risk of costly cybercrimes — study
ACCORDING to a recent study, cybercrime is undiminished and unlikely to slow down any time soon, which means businesses around the globe must be more careful about how they run their networks and computers.
— Tech Wire Asia

Banana sugar and cricket protein start-ups among the finalists for Mekong accelerator programme
Start-ups including a Cambodian firm that produces a unique banana sugar and a Vietnam cricket protein company are among the 23 businesses selected to take part in the Mekong Agritech Accelerator (MATCh) programme.
— Food Navigator Asia

SE Asia PP falls for a fifth consecutive week, but bottom in sight
Southeast Asian polypropylene (PP) prices fell for a fifth consecutive week in early April, though some market players believe that the spot market is likely to stabilize in the weeks ahead.
— ICIS

Banks’ obsession with SE Asia could spell trouble
Korean banks have been making every effort over the years to set up strong presences in Southeast Asia to find new sources of income abroad.
— Korea Times

Fast Retailing ups profit forecast on strong Uniqlo sales
Uniqlo owner Fast Retailing on Thursday raised its earnings forecast for fiscal 2018, thanks to strong sales of warm clothing and improved inventory management so far in the year.
— Nikkei Asian Review (metered paywall)

China, ASEAN launch joint sci-tech labs
China and the Association of Southeast Asian Nations (ASEAN) have launched joint laboratory program to enhance innovation cooperation, Ministry of Science and Technology said Thursday.
— Xinhua

Asean Women’s Circle Food Fair Raises Money for Charity
Asean Women’s Circle Jakarta held its annual Circle Food Fair bazaar to raise money for charity at the Asean Secretariat in Jakarta on Tuesday (10/04).
— Jakarta Globe

SE Asia Stocks-Singapore falls ahead of cbank policy decision
Shares in Singapore, among the more expensive markets in Asia and highly exposed to global trade, slipped on Thursday ahead of a policy decision by its central bank, while most other Southeast Asian stock markets reversed course to end higher.
— Reuters

Trump considers rejoining Pacific trade pact he once spurned
President Donald Trump has directed senior aides to explore rejoining the 11-nation Trans-Pacific Partnership if a “better deal” can be reached, the White House said on Thursday (Apr 12).
— Channel NewsAsia

ASEAN, UN reaffirm commitment to enhance cooperation
The Secretariats of ASEAN and the United Nations held a regional Secretariat-to-Secretariat (S2S) Meeting at ASEAN Secretariat in Jakarta yesterday, reaffirming their commitment to enhance cooperation.
— ReliefWeb

GMS transport projects make Vietnam better connected
Vietnam is the only country in the GMS that has participated in all three economic corridors. They include the north-south corridor that connects Vietnam with China, the east-west to link Thua Thien-Hue province and Da Nang city in the central region with Laos and all the way to Thailand and Myanmar and finally the southern one bridging HCM City with Phnom Penh and Bangkok.
— VIETNAMNET Bridge

Asia Frontier Capital – Vietnam, Myanmar, And Cambodia Travel Report
In line with our process of being on the ground in the countries we invest in, Ruchir Desai, Senior Investment Analyst, travelled to Vietnam, Myanmar, and Cambodia last month to attend an investor conference as well as meet with companies. All photos are by Asia Frontier Capital.
— Seeking Alpha

World Bank sees 6.3% growth for emerging East Asia this year
GROWTH IN developing East Asia and the Pacific (EAP) is expected to remain strong and reach 6.3 per cent in 2018, according to a World Bank report on the region.
— The Nation

ASEAN and China launch Year of Innovation
The Association of South East Asian Nations (ASEAN) and China officially launched the ASEAN-China Year of Innovation on 12 April 2018 in Beijing, China.
— OpenGovAsia

ASEAN Finance Officials Eye Greater Integration, Push for Infrastructure Investment
Finance ministers and central bank governors from the Association of Southeast Asian Nations (ASEAN) stressed the importance of building on strong economic growth figures during their annual meeting last week, while highlighting the value of trade, investment, financial integration, and infrastructure towards meeting that objective.
— ICTSD

Disaster Management Research Roadmap for the ASEAN Region
The ASEAN region is one of the most disaster-prone regions in the world, and extreme climate events are projected to increase in frequency and intensity due to climate variation and change.
— Reliefweb

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

WB puts GDP growth at 6.9 percent
The economy will grow at a rate of 6.9 percent in 2018, according to the latest report from the World Bank.
— Khmer Times

Chinese firm plans aquaculture investment
Chinese-owned Jin Yu Tang Aquaculture (Cambodia) Co plans to invest $100 million in freshwater and seawater aquaculture projects in Preah Sihanouk and Koh Kong provinces to feed local and interna-tional demand.
— Khmer Times

US Embassy in Cambodia Warns of Alleged Bomb Plot
The U.S. Embassy in Cambodia has issued a security alert over an alleged plot to set off a bomb during the country’s traditional New Year holiday, which runs from Thursday through Monday.
— VOA Cambodia

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Pertamina to give victims’ families Rp 200m
State-owned oil and gas company PT Pertamina plans to give the families of five people who were killed in a recent Balikpapan oil spill in East Kalimantan Rp 200 million (US$14,521) for compensation.
— The Jakarta Post

Indonesian tin mining company invests $26 million in Nigeria
Indonesian tin mining company PT Timah Tbk will invest US$26 million or equivalent to Rp356.2 billion to realize the business expansion of the state-owned enterprise in Nigeria.
— Antara News

Govt destroys Rp 7b in illegally imported Chinese fruits
The Trade Ministry has destroyed seven containers of apples and oranges worth Rp 7 billion (US$508,440) that were illegally imported from China.
— The Jakarta Post

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Over 300 killed in road accidents in 2018’s first three months
More than 300 people have died in road accidents around the country in the first three months of the year, with property worth more than 24 billion kip damaged in the incidents.
— Vientiane Times

Laos Celebrates Khaen Music As UNESCO World Intangible Cultural Heritage
The Ministry of Information, Culture and Tourism organized a Procession marching along main roads of Vientiane celebrating the Khaen music of the Lao PDR as the world intangible cultural heritage of the United Nations Organization for Education, Science and Culture.
— Lao News Agency

Provinces prepare colourful activities to celebrate Lao New Year
Provinces across the country are preparing colourful activities to celebrate the Lao New Year during April 14-16.
— Vientiane Times

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

World Bank lifts Malaysia’s 2018 economic growth aim to 5.4%
The World Bank raised its forecast for Malaysia’s 2018 economic growth to 5.4% from October’s 5.0% projection but warned risks from shifts in external demand and financial market conditions could hurt prospects of the trade-reliant country.
— Nikkie Asian Review

Malaysians raise RM65,000 to bring voters home on Election Day
A group on social media helping outstation Malaysians who cannot afford to return home to vote has raised more than RM65,000 as of yesterday.
— Malay Mail

Bank Negara plans minimum standards for mobile payments, more safeguards
Bank Negara Malaysia will introduce minimum standards for the nascent but growing area of mobile payments and it will also ensure greater transparency and safeguards.
— The Star Online

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

What they said: 10 influential quotes on the Myanmar economy in 2017-18
The last fiscal year was a tough one for the economy owing to the Rakhine crisis and the government’s insufficient attention to deal with economic issues.
— The Myanmar Times

U.N. experts, Britain demand release of Reuters reporters in Myanmar
Britain’s foreign minister and United Nations human rights rapporteurs separately called on Thursday for the release of two Reuters reporters detained in Myanmar, after a judge rejected a request for their case to be dismissed.
— Reuters

Will Myanmar respond to Rohingya refugees’ demands?
For the first time since Myanmar’s military crackdown last year that led to almost 700,000 Rohingya fleeing into neighbouring Bangladesh, a government minister has visited a refugee camp.
— Al Jazeera

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

World Bank sees 6.7% PH growth
The World Bank sees the Philippine economy growing by 6.7 percent this year and next, similar to the pace of expansion last year, amid expectations of strong growth prospects across the region.
— Philippine Daily Inquirer

China lends P3.14B for Chico river irrigation project
The Philippine and Chinese governments have signed the P3.135-billion loan agreement for the Chico River Pump Irrigation Project, the first flagship infrastructure project to be financed by China under the Duterte administration’s ambitious “Build, Build, Build” program.
— Philippine Daily Inquirer

Metrobank successfully completes P60-billion stock rights offer
Metropolitan Bank and Trust Co. (Metrobank) announced the results of its P60-billion stock rights offer after the offer period closed on April 4.
— Business Mirror

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

New Naratif’s political activities appear to be funded by foreign entities and foreigners: ACRA
The website New Naratif “clearly has a political agenda”, and its political activities in Singapore “would appear to be funded by a number of foreigners”, said the Accounting and Corporate Regulatory Authority (ACRA) in a media release on Thursday (Apr 12).
— Channel NewsAsia

Singapore, Chongqing to set up electronic info-sharing platform
SINGAPORE is working with Chongqing to set up a single electronic window to connect the south-western Chinese city’s economy with Singapore through data and information sharing, said Chan Chun Sing, Minister in the Prime Minister’s Office, on Thursday.
— The Business Times

Singapore stakes claim on first organic standard for produce grown by urban and indoor farming
Singapore has launched its first organic standard, which officials believe is possibly the world’s first organic standard for produce grown in urban and indoor conditions.
— FoodNavigator-Asia

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Permanent Secretary for Social Development suspended amid corruption probe
TheThai Cabinet has decided to suspend Permanent Secretary for Social Development and Human Security, Puthipat Lertchaowasit, and his deputies and inspectors from the civil service without pay for the time being to facilitate an investigation into suspected corruption.
— NNT

First day of Songkran claims 39 lives and 461 injuries in road accident
Thirty nine people were killed and 461 injured on the first of the “seven dangerous days” of the Songkran traditional New Year holiday travel on the country’s roads, officials said on Thursday (Apr 12).
— Thai PBS

3,339 people nabbed for alleged drink driving on first day of Songkran festival
A total of 3,339 motorcyclists and drivers of public transport and private cars were arrested by authorities for drink driving in a way which may cause road accidents on the first day of the long Songkran festival on Wednesday (Apr 11).
— Thai PBS

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam ministry seeks final assessment of $69bn plan to develop three special economic zones
Vietnam’s Ministry of Finance is collecting final feedback on a proposed master plan to establish three special administrative and economic zones projected to carry an enormous total price tag of VND1,570 trillion (US$69.16 billion).
— Tuoi Tre

Tax sector steps up technology application
The General Department of Taxation (GDT) has sped up reforms and application of information technology to make its management more effectively.
— The Hanoi Times

Banks hit 25-30% of profit goal
Many banks were estimated to meet 25-30 per cent of their annual profit targets by the end of March, although the first quarter is usually the most sluggish for banks.
— Bizhub

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.