Asean Morning News For April 25

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Elephants driven to extinction by illegal skin trade, says report
MANY ELEPHANTS are being hunted for their skin across Asia and the problem is reaching a crisis point, said a report released yesterday by an international NGO that is dedicated to protecting the animals from extinction.
— The Nation

Short of war, China already controls the South China Sea: US admiral
If Chinese leaders thought that saying goodbye to their least favorite US military commander, current US Pacific Command chief Admiral Harry Harris, would mean a more amenable replacement is on the way, they had better guess again.
— Asia Times

New Silk Road’s Impact on ASEAN
ASEAN’s Master Plan for Connectivity and China’s New Silk Road have major commonalities.
— International Policy Digest

Defence market in Southeast Asia
While many countries across the globe are cutting down on their military expenditure, ASEAN member states are heading in the opposite direction.
— The Asean Post

Bond Pricing Agency Malaysia: Asean bond market valued at US$1.229 tril
Bond Pricing Agency Malaysia (BPAM) said today that the Association of Southeast Asian Nations (Asean) bond market is growing significantly with an estimated combined market size of US$1.229 trillion (about RM4.801 trillion) as at end 2017.
— The Edge Markets

Gender Inequality Could Be Costing Asia Pacific $4.5 Trillion
It might be the most dynamic region in the world but the Asia Pacific isn’t meeting its economic potential, and some of that has to do with gender equality, according to the McKinsey Global Institute.
— Bloomberg

Three Ways To Win Southeast Asia E-Commerce [Infographic]
Southeast Asia is the world’s hottest online battleground. This infographic explores the unique market dynamics, and three ways companies can win.
— Forbes

ASEAN3 government bond index launched
Bond Pricing Agency Malaysia Sdn Bhd (BPAM) is tying up with Indonesia Bond Pricing Agency (IBPA) and the Thai Bond Market Association (ThaiBMA) to launch the new ASEAN3 Government Bond Index (A3GBI) yesterday.
— The Borneo Post

Singapore and Chinese companies cooperate to expand in South-east Asia
A Singapore supply chain management company has linked with a Chinese e-commerce logistics services firm to expand their businesses in South-east Asia and beyond.
— The Straits Times

50 years on, Asean gears up for new challenges
FINANCE ministers of the Association of Southeast Asian Nations have just concluded their 22nd Meeting in Singapore, as Asean embarks on the second half of its journey towards its centennial.
— The Business Times

Singapore to host Asean summit this week
Regional leaders will gather in Singapore from today till Saturday for the 32nd Asean Summit and related meetings, during which they will discuss the grouping’s top priorities, programmes and challenges.
— The Straits Times

Aspiration over actualisation in Singapore’s approach to ASEAN
Singaporean Prime Minister Lee Hsien Loong’s 50th Anniversary Lecture for the Yusof Ishak Institute of Southeast Asian Studies on 13 March 2018 was notable for its open acknowledgement of some of the difficulties facing ASEAN, which Singapore is chairing this year.
— East Asia Forum

ASEAN summit to focus on Myanmar, S.China Sea but little progress expected
Southeast Asian leaders will focus on trade wars, the crisis in Myanmar and security tensions in the disputed South China Sea at a summit this weekend, but it’s highly unlikely there will be any headline-grabbing progress on the issues.
— ABS-CBN News

How burnout drove an entrepreneur to help 30,000 people in Southeast Asia
David Pong was traveling in Australia when a bout of exhaustion stopped him in his tracks and prompted him to reconsider his direction in life.
— CNBC

WeWork is planning a major expansion in Southeast Asia
China takes the limelight as the main focus for WeWork in Asia, but the company is pushing ahead with plans to grow its presence in Southeast Asia.
— TechCrunch

PH school chain eyes Vietnam, Indonesia
Phinma Education, the education arm of the Phinma Group of companies, is eyeing Vietnam for its next venture in Southeast Asia after its recent foray in Myanmar.
— Malaya

Asean summit to focus on Myanmar, South China Sea
Southeast Asian leaders will focus on trade wars, the crisis in Myanmar and security tensions in the disputed South China Sea at a summit this weekend, but it’s highly unlikely there will be any headline-grabbing progress on the issues.
— Nagaland Post

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

The U.S to Provide GSP Retroactive Refund to Traders
The Ministry of Commerce issued a notice, dated on April 21, 2018 to all the merchants who imported goods into the US market from January 2018 to request a tax refund after the US continued the Generalized System of Preferences (GSP), which provides duty-free treatment to goods of designated beneficiary countries.
— Fresh News

Cambodia-China Agree to Build Port in Kampot
Try Pheap Group and Guangxi Beibu Gulf International Port Group, on Tuesday, signed agreement on cooperation for the development of port that can accommodate vessels weighted from 10,000 to 30,000 tonnes to dock.
— Fresh News

Freedom of expression online in Cambodia ‘stifled by laws’
Cambodian laws are muzzling online expression, a new regional report launched on Tuesday has found.
— 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 former speaker gets 15 years in jail for corruption
Indonesia’s former parliament speaker was handed a 15-year prison term on Tuesday in one of the country’s harshest sentences for graft, marking a victory for its clamp-down on widespread corruption.
— The Nation

PLN Loses Rp10 Billion due to Electricity Theft
State electricity company PLN president director Sofian Basir stated the company suffered loses around Rp10 billion in a year due to the electricity theft. “Please share that theft is a criminal act,” he said in the Parliament complex, Tuesday, April 24.
— Tempo.co

What to make of Indonesia’s consideration to join the TPP-11?
When former president of the United States (US), Barack Obama mooted the idea of the Trans Pacific Partnership (TPP) to Indonesia’s president, Joko Widodo in 2015, the latter opted for a ‘wait and see’ approach.
— The Asean Post

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

The Truth About the New Laos Minimum Wage Hike
After months of deliberation, Laos’ Prime Minister Thongloun Sisoulith announced this week that the country’s minimum wage will increase from 900,000 kip ($108) to 1.1 million kip per month. This rise is set to take effect from early next month.
— The Diplomat (paywall)

ADB approves US$30 million grant to expand healthcare coverage in Laos
The Asian Development Bank (ADB)’s Board of Directors has approved a US$30 million policy-based grant to help the Lao government expand healthcare coverage and improve health services in the country, the bank said on its website on Monday.
— Vientiane Times

Lao PM to attend Singapore summit
Lao Prime Minister Thongloun Sisoulith, his spouse and a high-level delegation are scheduled to attend the 32nd Asean Summit to be held in Singapore on April 27-28.
— Vientiane Times

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

Malaysia’s total external reserves surges US$2.2b to US$110.0b in mid-April 2018
Malaysia’s total external reserves surged US$2.2 billion to US$110.0 billion at mid-April 2018, the highest since end of February 2015, underpinned by capital, trade and corporate flows.
— New Straits Times

Aerospace industry to generate annual revenue
The aerospace industry is targeted to generate annual revenue of RM55.2 billion and create more than 32,000 high-income jobs by 2030, says the Malaysia External Trade Development Corporation (Matrade).
— The Borneo Post

Multi-cornered fights and fresh faces in Selangor for upcoming Malaysia election
The Malaysian opposition is set to face vote-splitting multi-cornered fights for at least 20 out of 22 parliamentary seats, and 44 out of 56 state seats in its prized state Selangor in the coming Malaysia general election.
— Channel NewsAsia

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

How China gets what it wants in Myanmar
As Myanmar prepares for yet another round of peace talks with ethnic armed groups, all eyes are on China.
— Asia Times

Karen call on Myanmar to honour ceasefire agreement
THE KAREN community has urged the Myanmar military to honour the Nationwide Ceasefire Agreement (NCA) after a report, due to be released today, said that more than 15,000 government troops have now invaded Karen National Union (KNU) controlled areas.
— The Nation

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Philippines set for new halal accreditation scheme as officials eye bigger slice of $630bn market
A new halal accreditation scheme for the Philippines will be launched by Department of Trade and Industry (DTI) next month as the nation seeks to capitalise on increasing demand at home and overseas.
— Food Navigator-Asia

Philippine to bank on non-traditional exports in event of trade war
The Philippines intends to capitalize on non-traditional markets to boost its exports sector should the looming trade war between the US and China escalate, Trade Secretary Ramon Lopez said.
— Philippine Star

Philippine economy to lose up to P1.96 billion over Boracay closure
The country’s economy is estimated to lose P980 million per quarter or a total of P1.96 billion over the impending 6-month closure of Boracay, with Western Visayas to suffer the most, according to Socioeconomic Planning Secretary Ernesto Pernia.
— Rappler

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore Promotions Prompt Speculation Over Premier’s Successor
Singapore’s prime minister, Lee Hsien Loong, promoted several junior ministers Tuesday, including one who is seen as a possible successor.
— The Wall Street Journal

In profile: The men who could be Singapore’s next Prime Minister
Much has been discussed and written since the start of the year in an attempt to divine who the next Prime Minister of Singapore might be, and the focus has fallen squarely on Chan Chun Sing, Heng Swee Keat and Ong Ye Kung.
— Channel NewsAsia

Asian Development Bank and Singapore: Fact Sheet
Singapore has contributed more than $500 million to the work of ADB to provide loans, grants and technical assistance that help the poor and vulnerable in Asia and the Pacific.
— ADB

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Plea to ease cryptocurrency rules rebuffed
THE Ministry of Finance is holding firm against efforts for a draft bill on the regulation of digital currencies to be watered down, especially with the imposition of a 15 per cent withholding tax on transactions.
— The Nation

Commerce Ministry foresees no adverse impact of Alibaba’s presence in Thailand
The Ministry of Commerce has allayed concerns among Thai online traders after Alibaba kicked off its investment in Thailand, saying the matter will not put a strain on their businesses.
— News Today (video)

US Leaving TPP Spurred Harley’s Plans for Thailand Plant
“We were very optimistic about what the TPP would enable for Harley-Davidson,” said CEO Matt Levatich. “It took seven years for it to come to fruition. We could see the writing on the wall, and we got busy with Plan B.”
— Industry Week

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Steel sector has potential for 22% growth
Viet Nam’s steel industry has high potential to reach a production growth rate of 22 per cent and expand export markets this year.
— Bizhub

Vietnam to cut black pepper farm area as global prices fall
Vietnam plans to slash its black pepper growing area by 26.7 percent in response to falling global prices, the chairman of the country’s pepper association said Tuesday.
— Reuters

Foreign automakers switch to trading as Vietnamese scale up production
While foreign-invested manufacturers have shifted to importing cars for domestic sale, Vietnamese enterprises have increased investments and expanded production, vowing to develop a domestic automobile industry.
— VietNamNet Bridge

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.