Asean Morning News For May 31

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Exim Bank offers insurance against unpaid invoices from Cambodia, Laos, Myanmar
The Export–Import (Exim) Bank of Thailand is offering cross-border trade insurance against unpaid invoices, to boost confidence among exporters that trade with neighboring countries.
— NNT

The 6 Tech Unicorns of Southeast Asia
Southeast Asia is currently experiencing a boom in the technology sector that is led by six unicorn startups.
— Asean Up

Go-Jek’s foray into Southeast Asia’s ride-hailing market
Since its launch in 2010, Go-Jek has grown rapidly in Indonesia, a country that is home to more than 250 million inhabitants.
— The Asean Post

Asean is the fulcrum of a free and open Indo-Pacific
The US remains committed to the region but the success of its policy hinges on others to help uphold liberty, national sovereignty, and the freedom to navigate the global commons.
— The Straits Times

Why Southeast Asia’s ‘irrational’ use of antibiotics could lead to dire consequences
There’s irrational antibiotic use globally – it’s not just confined to Southeast Asia.
— Southeast Asia Globe

Building ASEAN’s power grid
The current period of sustained economic growth in Southeast Asia is expected to continue into the foreseeable future.
— The Asean Post

The e-payment battle for Southeast Asia swings Alibaba’s way
The Southeast Asian market for mobile payment services is in upheaval, and Chinese e-commerce giant Alibaba Group Holding is at the center of it.
— Nikkei Asian Review (metered paywall)

Southeast Asia’s Road Building Spree Splinters Ecosystems
Southeast Asia is a global biodiversity hotspot, and Indonesia and Malaysia are no exception, harboring some of the highest levels of species diversity in the world.
— The News Lens

M&M eyeing South Africa, Asean to serve as alternate manufacturing base
Mahindra and Mahindra (M&M) has identified two regions, South Africa and an ASEAN (Association of South East Asian Nation) country, for a potential manufacturing base outside India.
— Business-Standard

China-ASEAN Music Week kicks off in SW China
The China-ASEAN Music Week kicked off in southwest China’s Guangxi Zhuang Autonomous Region Tuesday night.
— Xinhua Net

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Phnom Penh-Sihanoukville Highway to Begin Construction in 2018
The 190km Phnom Penh-Sihanoukville highway will begin to construct by the end of 2018, Senior Minister of Public Work and Transport Sun Chanthol told Fresh News on Wednesday.
— Fresh News

Parties express satisfaction with ballot slot positions
The National Election Committee (NEC) on Tuesday held a public draw to determine the order of political parties on the ballot paper for the July 29 national elections, with Tep Vong and Bou Kry, the two Great Supreme Patriarchs of Cambodia, attending.
— The Phnom Penh Post

WB Provides Loans for National Roads’ Improvement in Cambodia
World Bank has provided a low-interest loan of $60 million to the Royal Government of Cambodia to upgrade the quality of National Road No.3 and National Road No. 7 with a total length of 218 kilometer.
— Fresh News

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

State-owned firms prohibited from seeking fresh loans
The government has prohibited state-owned enterprises (SOEs) from seeking new bank loans. Instead, they are required to find alternative financing, such as securitization and bonds.
— The Jakarta Post

Wika gets $830m elevated toll road project in Manila
State-owned construction company PT Wijaya Karya (Wika) signed a memorandum of understanding in Manila on Monday for the construction of the Taguig Express Way (MTEX), an elevated toll road project in Manila worth 43,75 million peso (US$830.41 million).
— The Jakarta Post

Bomb Hoax: Fear and Panic Engulf Lion Air Flight JT687 (video)
Fear and panic engulfed the cabin of Lion Air Flight JT687 from the Indonesian island of Borneo to Jakarta on Monday night, May 28, resulting in a spontaneous evacuation of passengers after a man was overheard telling a flight attendant that there was a bomb on the plane.
— AEC News Today

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Laos, Myanmar move forward in energy cooperation
Laos and Myanmar have taken another step towards implementing a Memorandum of Understanding (MOU) on power cooperation that was signed in January this year.
— Vientiane Times

Thai Hospital To Build Branch In Vientiane
Kasemrad International Hospital, affiliated to Bangkok Chain Hospital Public, held a groundbreaking ceremony for its first Vientiane-based branch last Friday.
— Lao News Agency

Laos Increases Minimum Monthly Wage for the Third Time in Eight Years
The Lao government has increased the country’s monthly minimum wage from Kip 900,000 (US$108) to Kip 1,100,000 (US$132) with effect from May 1, 2018.
— Asean Briefing

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

Malaysia to build island in waters near Singapore
Prime Minister Tun Dr Mahathir Mohamad said Wednesday (May 30) he wants to develop an island on a cluster of rocks previously disputed with Singapore, a move that could anger its neighbour.
— The Star Online

Malaysia to ‘reconsider’ its challenge to ICJ judgment on Pedra Branca: Mahathir
Malaysia will “reconsider” its challenge to the International Court of Justice’s (ICJ) judgment on Pedra Branca, said Prime Minister Mahathir Mohamad on Wednesday (May 30).
— Channel NewsAsia

Malaysian Government starts crowdfunding to help reduce the country’s staggering debt
Malaysia has set up a fund for members of the public to donate cash to help the new Government repay its hefty national debt, the finance ministry says, providing a bank account number for deposits.
— ABC

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

Myanmar stalling on end to child soldier recruitment: UN
Myanmar has not done enough to fulfil its promise to end the use of child soldiers and underage recruitment may even be on the rise, a top UN official said Tuesday.
— Mizzima

Myanmar’s Daily Minimum Wage Increased from Kyat 3,600 to Kyat 4,800
Myanmar’s union government has increased the country’s daily minimum wage for an eight-hour work day from Kyat 3,600 (US$2.65) to Kyat 4,800 (US$3.54).
— Asean Briefing

Amara launches 4G+ service in Yangon
Myanmar’s Amara Communications has launched its data-only LTE service in Yangon under the brand name ananda.
— Telecomasia.net

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

War: Philippines Says it Will Fight if ‘Red Line’ Crossed… With what? (video)
Philippines Foreign Affairs Secretary Alan Peter Cayetano on Monday defended the administrations apparent soft stance against China saying the country would go to war if its new-found benefactor crosses a red line.
— AEC News Today

PH ranks 104th among best, worst countries for children
The Philippines fell to 104th spot among 175 countries in the global ranking of best and worst countries for children to grow up, the latest report of Save the Children revealed Thursday.
— ABS-CBN

World Bank flags ‘sluggish’ poverty reduction in the Philippines
The Philippines’ bullish economic fundamentals helped bring down the poverty rate, according to the World Bank, although poverty reduction in the country has been sluggish due to a wide wealth gap.
— Philippines Magazine

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore’s largest underground substation to be built at Pasir Panjang
Singapore will build its largest underground substation yet, with the capacity to power more than two public housing towns when completed by 2025. Building the substation underground will free up three hectares – or more than three football fields of space – of land.
— Channel NewsAsia

Bad credit card debt in Singapore nearing its 10-year peak
The recent data release from the Monetary Authority of Singapore suggests that consumers in the country might be going overboard with their credit card usage. Here, we discuss the rise in bad credit card debt, its potential causes and consequences.
— The Online Citizen

Singapore’s private sector employees enjoyed higher wage growth and lower salary cuts in 2017: MOM
Private sector employees in Singapore received higher wages in 2017 compared to the previous year albeit a moderate increase after taking inflation into account, said the Ministry of Manpower (MOM) in a statement on Wednesday (May 30).
— Business Insider

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Business optimism deepens as economy keeps marching
A GAUGE of business sentiment across the regions suggests confidence in the economy is increasing, meshing with other positive indicators and a key business lobby’s dismissal of a potential hit on exports from Italy’s political crisis.
— The Nation

BoT: Economy improves, but still patchy; April factory output up 3.99%
Thailand’s economy is expected to grow faster than previously projected due to strong exports, but domestic demand was not yet “broad-based” and monetary policy has to remain accommodative, minutes of the central bank’s last policy meeting showed on Wednesday.
— Bangkok Post

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

VIMO targets illegal mobile wallet payments in Vietnam
The Vietnam National Administration of Tourism noted that from January to April 2018, 1.8 million Chinese tourists visited the country, 32% of total international arrivals.
— Telecomasia

Foreign investors rush to Vietnamese plastics market
Vietnamese plastic firms are under big pressure to make restructure to be able to compete against foreign counterparts, who have made many mergers and acquisitions of domestic firms in the past few years.
— The Hanoi Times

Berjaya Corp unit’s hope to recoup US$10m dims after Vietnam court upholds key decision
A court has upheld a key judgement in Vietnam’s biggest-ever fraud case, a victim’s lawyer told Reuters, in a trial that has spotlighted the country’s ability to tackle financial crime at a time when foreign banks are heeding government calls to invest.
— The Star Online

See here for more of today’s Vietnam Morning News

The Asean Morning News Roundup and its individual country morning news round-ups are the most comprehensive hand-curated selection of news reports from around the Asean Economic Community (AEC) published. We scour hundreds of local and international news and websites to find the things that you need to know to start your working week day.

We clearly identify the source of the story, whether it is behind a paywall, a media release, or whether the site uses annoying pop-up advertising or auto-play video, in case those things annoy you. It’s all then packaged up in an easy to read format enabling you to make an informed choice of whether you want to learn more by clicking directly through to the original source, or keep on reading the headlines. AEC News Today: Governance, not government; policies not politics.