Asean Morning News For February 12

Asean Morning News

Compiled by Sreypov Men @MenSreypov

Export Restriction Boosts Natural Rubber Price
Joint effort of Indonesian, Thai and Malaysian governments as members of world rubber exporting countries restricting rubber exports through Agreed Export Tonnage Scheme (AETS) managed to boost the price of the commodity with 5 percent increase on January 2018.
— Tempo

What’s Behind the New China-ASEAN Maritime Exercise?
The fact that an old idea is finally set to become a reality reflects broader changes underway in the region.
— The Diplomat

SRW&Co & Cambridge Judge Business School Team up For 8th Asean Leadership Programme (video)
Regional management consulting firm SRW&Co is teaming up with the University of Cambridge Judge Business School (CJBS) for the eighth consecutive year to offer its Asean Global Leadership Programme (AGLP).
— AEC News Today (video)

ASEAN Summit Considers Climate-friendly Cooling for Asia
Participants to the first ‘Cooling Summit’ for members of the Association of Southeast Asian Nations (ASEAN) discussed how to promote the use of energy-efficient technologies for air conditioning in tropical countries.
— IISD

Singapore-based Ademco acquires 60% in Vietnam security solution provider TNT
Singapore-based security services company Ademco Security Group Pte Ltd (Ademco) has acquired 60 per cent of one of Vietnam’s leading security solution providers TNT Technologies Joint Stock Company (TNT) as a part of its plan to grow overseas revenue by 50 per cent over the next three years.
— DealStreetAsia

Asia Coffee-Vietnam Jan coffee exports jump, Indonesia nears mini-harvest
Vietnam’s coffee exports in January jumped beyond the government estimate ahead of a major holiday, official data showed on Thursday, while Indonesia is expected to be busier next week as it nears a mini harvest, traders said.
— Tuoi Tre

Thailand’s largest solar firm Superblock plans $1.76b worth of wind farms in Vietnam
Thailand’s largest solar energy company, Superblock Pcl, plans to invest 56 billion baht ($1.76 billion) to install 700 megawatts (MW) of wind farms in Vietnam, the company’s Chairman Jormsup Lochaya told Reuters on Friday.
— DealStreetAsia

Indonesia Eyeing Warship Markets in Malaysia, Africa
PT Penataran Angkatan Laut (PAL) Indonesia plans to export warships to countries in Southeast Asia and Africa in 2018 and 2019.
— Tempo

Hand in hand, China and ASEAN enter a new era
It is a great honor to serve as China’s Ambassador to the Association of the Southeast Asian Nations (ASEAN) at this historical juncture when China and ASEAN usher in a new era for both of us.
— Global Times

How ASEAN May Deprive US of Its Arbiter Status in the South China Sea
The US efforts to perpetually fuel tensions in the South China Sea region could soon be brought to an end, as ASEAN nations and Beijing are negotiating a code of conduct for situations in the air and in the sea to prevent dangerous incidents, RIA Novosti political observer Dmitry Kosyrev noted.
— Sputnik News

Commentary: Cavalier disregard for ASEAN not needed
Australian Prime Minister Malcolm Turnbull will be hosting the forthcoming ASEAN-Australia Special Summit in March.
— Channel NewsAsia

Is Asean wasting time on sea code of conduct with Beijing ignoring pact?
Asean countries have been pushing for a code of conduct (COC) in the South China Sea (SCS), but there is great skepticism if such a regional maritime agreement can be hammered out. But even if Asean succeeds, can it force China to abide by it?
— BusinessMirror

Will South-East Asia be the new world dump?
South-East Asian countries are slated to take over the tough, dirty task of processing plastic from China.
— Star2

Belt and road initiative: Ominously, Chinese investment in South Asia target control of natural resources
Economic corridors have hardly been as controversial as China’s Belt and Road initiative (BRI). It could have avoided controversies if it had proceeded in a consultative fashion like multi-country cross-border corridors.
— Financial Express

ASEAN venture capitalists’ risk appetite for deep tech startups rising: Alex Crompton, Entrepreneur First
Alex Crompton, the Director of Entrepreneur First (EF) in Singapore, is bullish on the city-state’s venture ecosystem, and takes a contrarian view that its investors are growing in risk appetite and sophistication – particularly with regards to the deep technology cluster – as its entrepreneurial ecosystem and its different stakeholders mature into their own style.
— DealStreetAsia

Assam woos ASEAN cities ‘closer than Mumbai’, investors commit Rs 1 lakh crore
Last week, as Prime Minister Narendra Modi unveiled a two-day global investment summit, titled “Advantage Assam: India’s Expressway to ASEAN” and organised by the state government, Chief Minister Sarbananda Sonowal made a presentation that used geographical distances to project Guwahati as the actual epicentre of growth in Southeast Asia, in the process inviting investors to look at his state as a favourite destination.
— Indian Express

Asean experts gun for integrated Coast Guard
Increased maritime security in the form of an integrated ASEAN Coast Guard and efforts by India to reduce conflict zones with China would result in an improved safety net for sea trade in the Indian Ocean, said experts at the International Conference on India-ASEAN Partnership held at Gitam University on Saturday.
— Nyooz

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Cambodia’s economic freedom down slightly last year: report
Cambodia’s economic freedom score dropped seven ranks in the annual Economic Freedom Index released by the Heritage Foundation, a US-based, conservative-leaning think tank.
— The Phnom Penh Post

New cement factory opens in Kampot
Chip Mong Insee Cement Corporation (CMIC) launched a new factory in Kampot province yesterday, with a total production capacity of 5,000 tonnes of cement per day.
— The Phnom Penh Post

PM Hun Sen Takes Further Actions on Overloaded Truck
Prime Minister Hun Sen reiterated that all authority in charge who refused to take action against overloaded trucks will face a position withdrawal.

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Indonesia Morning News

Compiled by Sreypov Men @MenSreypov

Energi Mega Persada to enter petrochemical business
Publicly-listed oil and gas firm PT Energi Mega Persada (EMP) is seeking to diversify its business by developing two purified terephthalic acid (PTA) plants worth US$600 million this year.
— The Jakarta Post

Indonesia’s Q4 current account deficit at 2.2 % of GDP
Indonesia’s current account deficit in the final quarter of 2017 expanded because of higher imports of goods related to production activities in the period, the central bank said on Friday.
— Nikkei Asian Review

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Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

22 Companies Invest in Thakhek Specific Economic Zone
Twenty two local and foreign companies have signed agreements with relevant authorities to invest in the Thakhek Specific Economic Zone (TSEZ) since 2012.
— Lao News Agency

MAF, FAO collaborate on strategy to boost rice production
The Ministry of Agriculture and Forestry (MAF) and the Food and Agriculture Organisation of the United Nations (FAO) are collaborating under the Regional Rice Initiative (RRI) to develop communication methods to inform people about rice planting and fish breeding in rice fields.
— Vientiane Times

Japan Grants JPY 1.9-Billion Aid to Laos
The Government of Japan has decided to provide grant aid amounting to JPY 1.94 billion, about US$17.7 million to Laos to fund the improvement of Setthathirath Hospital and Champassak Provincial Hospital.
— Lao News Agency

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Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

Malaysia needs structural reforms says global investor
A renowned global investor has called for structural reforms in Malaysia, saying that the country faces “very real” structural issues.
— The Star Online

EPF’s 2017 investment income tops RM53b on improved market conditions
The Employees Provident Fund (EPF) saw investment income hit RM53.14 billion in 2017, driven by improved market conditions across both global and domestic markets in 2017, leading it to declare a dividend rate of 6.9% for the conventional scheme, its highest since the 1990s, and 6.4% for its maiden payout under the syariah scheme.
— The Sun Daily

Foreign buying of Malaysian bonds to continue
Yield differentials between Malaysian government securities (MGS) and US treasuries (UST) is set to narrow supported by healthy foreign buying of Malaysian bonds amid the country’s positive economic fundamentals.
— The Star Online

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Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

Myanmar says soldiers, police facing action over village killings
Action will be taken against 10 members of Myanmar’s security forces in connection with the killing of captured Rohingya Muslims in Rakhine state, a government spokesman said on Sunday, adding it was not related to a Reuters report on the incident.
— Reuters

British foreign minister Johnson meets Myanmar’s Suu Kyi to discuss Rohingya crisis
Britain’s foreign minister Boris Johnson stopped off in Myanmar on Sunday to press Aung San Suu Kyi on the need for an independent investigation into violence in Rakhine state, as the country faces mounting pressure to punish troops accused of atrocities against the Rohingya Muslims.
— South China Morning Post

Myanmar invites for implementing new resort project in Mandalay
Myanmar’s Mandalay regional government invited investors to develop a new resort in Mandalay, the second largest city in the north, the official Global New Light of Myanmar reported Sunday.
— Xinhua Net

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Philippines Morning News

Compiled by Leakhena Khat @leakhenakhat

Philippine president cancels $234M deal for Canadian-made helicopters: ’There is always a condition attached’
Rodrigo Duterte, the president of the Philippines, has ordered the country’s military to cancel a $234 million deal to buy Canadian-built combat helicopters.
— National Post

Philippines says more than 2,200 citizens in Kuwait want to go home
More than 2,200 Filipinos are ready to take up President Rodrigo Duterte’s offer to repatriate workers from Kuwait due to reports of abuse, the Philippine labor minister said on Sunday.
— Reuters

Duterte’s preferential treatment for 3rd telco justified — lawmaker
An opposition lawmaker yesterday said President Duterte’s preferential treatment for the country’s third telecommunications player is not only a welcome development but “absolutely justified.”
— Philstar

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Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Further talks needed with Singapore on plan for single inspection centre at Causeway: Malaysia DPM
Malaysia will discuss in detail with Singapore the proposal to introduce a single inspection centre on the Johor Causeway, Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi said on Sunday (Feb 11).
— Channel NewsAsia

Singapore May Unveil a Tax on Online Retailers Like Amazon and Lazada
Singapore may unveil an e-commerce tax in next week’s budget, setting the tone for a region that’s grappling with online retail’s assault on brick-and-mortar vendors.
— Bloomberg

Time Out survey: Singapore rates as lowly for culture by residents
Is Singapore such a boring place to visit? A recent survey by lifestyle publication Time Out, which has conducted a spot research to discover the most exciting city on earth said Singapore ended in the 31st spot, not even in the top 30 in the list of the most exciting cities in the world.
— The Independent Singapore

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Thailand Morning News

Compiled by John Le Fevre @photo_journ

Proposed Kra Canal not current government project: Thailand
The Thai Government has made it clear that the proposed Kra Canal project is neither a priority currently nor does it have a policy on the proposed man-made waterway which will link the Indian Ocean and the Pacific Ocean.
— Channel NewsAsia/ Bernama

Scores defy Thai junta with rally demanding elections
Scores of Thais on Saturday (Feb 10) gathered in defiance of a junta ban on protests to call for a return to democracy, as public anger mounts over prolonged military repression.
— Channel NewsAsia/ AFP

New welfare benefits total B12bn in 4 months
Almost 12 billion baht was disbursed during the first four months of the government’s welfare and subsidy scheme for the poor, according to the Comptroller-General’s Department.
— Bangkok Post

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Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam’s electronics industry on the rise
The rapid growth of the domestic electronics industry has boosted up the employment demands in the country and many firms say they find it difficult to recruit technicians.
— The Hanoi Times

Fruit, veggie exports estimated at 321 million USD in January
Vietnam earned some 321 million USD from fruit and vegetable exports in January 2018, rising by 36.9 percent from the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).
— VietnamPlus

Wood industry plans US$14 billion turnover in 2020
Advantages from the new-issued Law on Forestry and new free trade agreements will boost Vietnam’s forestry and wood industry further develop to meet the US$14 billion turnover target, including $10 billion from exports, in 2020.
— The Hanoi Times

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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.