Asean Morning News For April 19

Asean Morning News For April 19
Estimated Reading Time: 11 minutes |

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

ASEAN turns blind eyes to Rohingya crisis
On April 25, Association of Southeast Asian Nation (Asean) leaders are scheduled to meet in Singapore for their 32nd annual summit, as the 10-member regional bloc claims, “to discuss regional and international issues.”
Asia Times

China pours $1.7m into development for Mekong countries
China is offering $1.7 million to a six-country group along the Mekong River to boost regional trade and ease concerns about Beijing’s massive hydroelectric dam projects along the waterway.
— Nikkei Asian Review

Healthcare costs in the region on the rise
Healthcare costs in the region are forecasted to spike in the coming years, according to research carried out by Solidiance, an Asia-focused corporate strategy consulting firm.
— The Asean Post

P2P lender Funding Societies raises $25m in Series B round led by SoftBank Korea
Peer-to-peer (P2P) lending platform Funding Societies has raised $25 million in a Series B funding round led by SoftBank Ventures Korea, in what could perhaps be the largest financing round for a P2P lender in Southeast Asia.
— Deal Street Asia

South China Sea claimants vexed over Manila-Beijing exploration plan
Malaysia and Vietnam have expressed concerns over plans by China and the Philippines to jointly explore oil and gas in the South China Sea, Philippine Foreign Affairs Secretary Alan Peter Cayetano said on Wednesday.
— Nikkei Asian Review (metered paywall)

IMF sees emerging Asia as top global growth engine
Southeast Asia’s booming economies are forecast to collectively maintain growth above five percent this year and next.
— VnExpress International

AFC Asian Cup draw seeding joy for Philippines, Thailand and Vietnam
The Asian Football Confederation (AFC) announced that the 2019 Asian Cup draw will be held on May 4 at the Burj Khalifa in Dubai.
— Fox Sports Asia

ASEAN Hard Luxury Goods Market to Receive Overwhelming Hike in Revenues by 2020
Thus the market for hard luxury product is also segmented on the basis of mode of distribution channel used for offering products to the consumers.
— Digital Journal

Japan’s Multi-Layered, Multilateral Strategy
With its One Belt, One Road Initiative and other policies, China has unveiled its own vision for regional order in an effort to expand its political and economic influence.
— The Diplomat

Success or failure: two experts debate the impact of Asean
In the five decades since its founding in 1967, Asean has played an instrumental role in bringing peace, stability and prosperity to an erstwhile strife-ridden region.
— Southeast Asia Globe

Energy storage in Southeast Asia
Rio Tuba, located in the Municipality of Bataraza on the island of Palawan in the Philippines is a predominantly mountainous region with roads riddled with potholes making it almost inaccessible especially during bad weather conditions.
— The Asean Post

SE Asia Stocks-Most rise on Wall St. gains; S’pore hits 3-month high
Most Southeast Asian shares rose on Wednesday on a recovery in investor appetite for riskier assets after rosy corporate earnings from Wall Street boosted sentiment.
— Reuters

How Can Japan-UK Cybersecurity Cooperation Help ASEAN Build Cybersecurity Capacity?
Japan and the UK have been strengthening their cybersecurity collaboration over the last six years.
— Council on Foreign Relations

Diagnosing causes of inequality crucial for ASEAN
One startling figure about recent global growth is that 82 percent of all the wealth created last year went to the top 1 percent. After focusing on economic growth for a number of decades, developed and developing countries alike have been increasingly concerned with equality.
— The Jakarta Post

ASEAN-Italy partnership continues to grow
From ubiquitous palm oil and rubber estates in Malaysia to long beaches and pristine waters in Indonesia, Southeast Asia is home to a wide array of resources and locations of interest. Italy, a European giant in its own right, is observant of this matter and has realised the tremendous financial potential that the region has to offer.
The Asean Post

After beating Uber, Grab faces bigger rival in SE Asia
The Southeast Asian ride-hailing market was jolted by the recent announcement of Uber’s retreat from the region. At first glance, it would appear a dramatic victory for Singapore-based rival platform Grab, which acquired Uber’s Southeast Asian operations in exchange for a 27.5 per cent stake.
The Nation 

India govt. signs highway construction project of India-Myanmar-Thai
The India–Myanmar–Thailand Trilateral Highway is that will connect India with the ASEAN region. The highway will link Moreh in Manipur state (India), via Mandalay city (Myanmar) and to Mae Sot district (Thailand).
Eleven Myanmar 

Phu Bia Mining Wins ASEAN OSHNET Awards
Phu Bia Mining’s outstanding safety performance has been recognised at the 19th Annual ASEAN Occupational Safety and Health Network (OSHNET) Conference in Siem Reap, Cambodia, where it won the Excellence Award.
Lao News Agency 

Diagnosing causes of inequality crucial for ASEAN
One startling figure about recent global growth is that 82 percent of all the wealth created last year went to the top 1 percent. After focusing on economic growth for a number of decades, developed and developing countries alike have been increasingly concerned with equality.
The Jakarta Post

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Cambodia to Deploy 100,000 Security Personnel, ‘Village Guards’ at Polling Stations For July Ballot
Cambodia’s government plans to deploy more than 100,000 security personnel and “village guards” at polling stations across the country during the upcoming general election, according to officials, drawing concerns from observers who suggested such a show of force would intimidate voters in a poll in which the ruling party is the only significant political group on the ballot.
— Radio Free Asia

Government urged to curb illegal logging
Eight environmental organisations yesterday asked the government to take immediate action against loggers and land speculators in a wildlife sanctuary in Preah Vihear province, worrying that more land will be encroached upon.
— Khmer Times

Ministries team up to boost silk industry
Two government agencies got together to sign an agreement to boost and develop the silk sector in Cambodia.
— Khmer Times

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesia seeks to limit cash transactions to fight bribery
Indonesia’s government has proposed a law to parliament to limit cash transactions to curb bribery and money laundering in Southeast Asia’s biggest economy, the head of the country’s anti-money laundering watchdog said on Wednesday.
— Reuters

West Java has largest number of officials charged with corruption
The Corruption Eradication Commission (KPK), after more than a decade in operation, said 12 regional leaders in West Java had been implicated in corruption.
— Antara News

Police to release super-yacht Equanimity seized in Bali
Indonesian police will release super-yacht Equanimity back to its rightful owner, Equanimity Cayman Limited, after the South Jakarta State Court ruled that the vessel was not linked to 1 Malaysia Development Berhad (1MDB), the New Straits Times Online reported.
— Thai PBS

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Laos Set to Graduate From Least Developed Country Status by 2024
For the first time since it was identified by the United Nations as one of the world’s Least Developing Countries (LDC), Laos has fulfilled the eligibility criteria to be removed from the list, and could see its status upgraded as early as 2024, according to the U.N.’s Economic and Social Council (ECOSOC).
Radio Free Asia 

Laos loses millions of dollars due to overvalued projects
The construction cost of many projects with State investment have been found to be too expensive and exceeding the realistic value, inspectors have confirmed.
Vientiane Times 

Phu Bia Mining Wins ASEAN OSHNET Awards
Phu Bia Mining’s outstanding safety performance has been recognised at the 19th Annual ASEAN Occupational Safety and Health Network (OSHNET) Conference in Siem Reap, Cambodia, where it won the Excellence Award.
Lao News Agency

See here for more of today’s Lao Morning News

Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Trade restrictions, tighter funding conditions pose risks to Malaysia
Malaysia is vulnerable to trade protectionism and unexpected tightening in funding conditions due to its high dependence on trade, according to a report by Moody’s Investors Service Inc.
— The Malaysian Reserve

RHB: Market volatility presents trading opportunities
Although the 14th general election (GE14) is a significant overhang for the economy and markets, volatility can still present trading opportunities due to the nation’s solid economy, earnings growth as well as pent-up demand post-election.
— Malay Mail

Maybank sees higher online deals in 2018
Malayan Banking Bhd (Maybank) is confident its online transactions will increase to 6.4 billion this year, following the newly revamped Maybank2u website, which will be launched to the public tomorrow.
— The Malaysian Reserve

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Myanmar Prisoner Amnesty Comes With a Rohingya Massacre Mystery
For about an hour on Wednesday, the website of Myanmar National Television carried a surprising report: A mass prisoner amnesty the previous day, it said, had included seven members of the country’s military who were briefly jailed for a massacre of Rohingya Muslims.
The New York Times

Myanmar’s media landscape needs more than press freedom
Threats to press freedom in Myanmar are seriously challenging the country’s democratic transition. Restrictions on media have been exacerbated by outbreaks of communal violence in Rakhine State since 2012 that have led to the exodus of nearly 700,000 Rohingya Muslim refugees.
East Asia Forum 

India govt. signs highway construction project of India-Myanmar-Thai
The India–Myanmar–Thailand Trilateral Highway is that will connect India with the ASEAN region. The highway will link Moreh in Manipur state (India), via Mandalay city (Myanmar) and to Mae Sot district (Thailand).
Eleven Myanmar 

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Duterte spooks foreign investors with tax ‘sword of Damocles’
Philippine President Rodrigo Duterte’s administration received an impassioned plea from within its ranks on the night of April 11.
— Nikkei Asian Review (metered paywall)

Philippine Business Bank raising P5 B for capital expenditure
Philippine Business Bank (PBB) hopes to raise P5 billion as it continues to explore capital raising avenues to strengthen the bank’s balance sheet.
— Philippine Star

Trump’s SC pick votes in favor of Filipino fighting deportation
Conservative Justice Neil Gorsuch cast a surprise vote in a decision released Tuesday favoring a Filipino immigrant fighting deportation, siding with the US Supreme Court’s left-leaning wing.
— Manila Bulletin

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat

 

Position Singapore as a global Asia node in next phase of economic transformation: Heng Swee Keat
Positioning Singapore as the “global Asia node of technology, innovation and enterprise” will be the next “critical” step in the country’s economic transformation plans, said Finance Minister Heng Swee Keat on Wednesday (Apr 18).
Channel NewsAsia 

Students petition against NUS’ move to go cashless
A decision by the National University of Singapore (NUS) to start going fully cashless in August has been met with strong resistance by students, who started two online petitions that have garnered more than a total of 1,700 signatures as of 10.30pm yesterday.
The New Paper

Top finance positions in demand by Singapore employers
The top three finance and accounting positions in demand by Singapore employers this year are: financial planning and analysis managers, who can expect to earn a median salary of S$115,000; finance managers, with a salary of S$110,000; and tax managers, at S$130,000.
The Star Online

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

More Thais die on new year roads despite new safety campaign
More than 400 people died in road accidents in Thailand over the traditional new year holiday, the Interior Ministry said on Wednesday, higher than the year before despite a new road safety campaign.
— Reuters

Foreign tourist arrivals exceed 10 million in Q1
The Thai tourism sector has been doing well so far this year, with more foreign visitors than last year and 12 percent growth in domestic travel during the Songkran Festival.
— NNT

PM honors persons behind revelation of fraud in destitute funds
The Prime Minister has commended two individuals for their disclosure of corruption in the funds for the destitute across the country.
— News Today (video)

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

 

Ministry defends high coal inventory
The Ministry of Industry and Trade has attempted to explain why the country has imported coal despite a large inventory.
— VietnamNet Bridge

Local banks’ shareholders get high dividend payouts
After years of receiving low dividend payout rate by banks, shareholders of many banks are now happy with the high rates announced at this year’s annual general meetings (AGMs) of shareholders.
— VietnamPlus

Vietnam to introduce exceptional policies for special economic zones
Prime Minister Nguyen Xuan Phuc has requested that the policies for Vietnam’s three special economic zones stand out so as to drive the development of these units.
— Nhan Dan Online

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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