Asean morning news for November 27,

Asean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Asean engages global strategic partners
The Trump administration’s chaotic and erratic diplomacy has prompted Asean to intensify and widen engagement with its strategic partners.
— Bangkok Post

Fintech poised to lure the bulk of investment in Southeast Asia
A growing influx of venture capital (VC) and private equity (PE) players coupled with entrepreneurial-friendly government initiatives are driving a break-out in the investment cycle in the region, says a new study from Bain & Company.
— Asean Today

South Korea turns to ASEAN
If anything is clear from the recently concluded ASEAN Summit and the East Asian Summit held in Singapore is that Southeast Asia is now hot property.
— The Asean Post

Trade between S. Korea, ASEAN to top US$160 bln this year
Two-way trade between South Korea and the Association of Southeast Asian Nations (ASEAN) is expected to top US$160 billion this year, a senior financial regulator said Monday, as Seoul seeks to bolster ties with the 10-member regional bloc.
— Yonhap News Agency

APAC’s healthtech VC funding set to exceed US$5.5b in 2018
Healthtech funding in the Asia Pacific (APAC) region in 2018 is on track to reach US$5.5b which is almost four times the funding achieved in 2015, according to Gavin Teo, general partner of venture capital firm B Capital Group.
— Singapore Business Review

Thais should lead Asean with migrant worker agenda
Thailand is the next Asean Chair in 2019 after the just concluded Asean Summit in Singapore this month.
— Khmer Times

EU, ASEAN to cooperate on digital security after breaches
Defense officials from ASEAN and European Union member states exchanged ideas about the advancement of security systems for electronic transactions amid the rising popularity of e-commerce and recent digital attacks.
— The Jakarta Post (paywall)

As US-China tussle and joust, Russia moves on SEAsia
When Russian President Vladimir Putin made his first-ever state visit to Singapore this month for the East Asia Summit (EAS) – a regional gathering never before attended by the Russian leader – observers saw the move as a signal of Moscow’s bid to play a larger role in regional affairs.
— Asia Times

Feeding Singapore’s hunger for sand
Sand mining for reclamation of coastal areas is both, a geopolitical and conservation issue for the Southeast Asian region, with many of the more developed countries in the bloc playing culprits.
— The Asean Post

China Eyeing ASEAN Steel Market: The Operation of Chinese-Funded Largest Steel Plant in Malaysia
Since China’s President Xi Jinping proposed the “One Belt, One Road” initiative in 2013, Chinese steel companies have made a full use of the resources and market potentials of countries along the land and maritime Silk Roads to promote international industrial capacity cooperation.
— Business Times

Navy to hold trilateral maritime drills with Indonesia, Malaysia
Ships from the navies of the Philippines, Indonesia and Malaysia will start a trilateral maritime exercise on Tuesday to better secure common maritime border against piracy and abductions.
— The Philippine Star

Cambodia morning news

Compiled by Sreypov Men @MenSreypov

Withdrawal of EBA could spark rating downgrade, experts say
The cancellation of the Everything But Arms (EBA) scheme would severely affect trade, investor sentiment, and the overall economy followed by a possible sovereign rating downgrade, while Cambodia’s strong ties with the EU makes it vulnerable to disruptions in trade relations, said experts.
— Khmer Times

ILO workshop tackles minimum wage issues
The Labour Ministry and the International Labour Organisation are working together to increase the technical abilities of members of the Labour Advisory Committee who are tasked with monitoring and evaluating the status of the Kingdom’s minimum wage.
— Khmer Times

More Than 200 Chinese Arrested in Cambodia for Online Scams
Police in Cambodia have arrested more than 200 Chinese citizens accused of defrauding people in China over the internet.
— Voice of America

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Lion Air promises to give IDR1.3 billion compensation money to families of all JT-610 victims despite 64 remaining unidentified
Indonesian authorities officially ended the identification process of Lion Air JT-610 crash victims last Friday, even though officials were only able to identify the remains of 125 of the 189 people on board. But the budget airline has pledged to give compensation money to all of the victims’ beneficiaries regardless
— Coconuts Jakarta (paywall)

Bank Indonesia to issue cross-border QR code payment regulation
Bank Indonesia is preparing a cross-border regulation on QR code transactions that is expected to come into effect early next year.
— The Jakarta Post

UPDATE 2-Indonesia to drop palm oil levy as farmers hit by price fall
Top exporter Indonesia said on Monday it will temporarily remove a levy on palm oil after a sharp drop in prices which has hit farmers.
— Reuters UK

See here for more of today’s Indonesia morning news

Lao PDR morning news

Compiled by Mark Roy @electricnerve

Chinese firm launches road upgrading project in central Laos
China North Industries Group Corporation Limited (NORINCO) has launched an upgrading project for a Savanakhet road in central Laos.
— China Daily

Govt slashes 2019 civil servant intake by half
The government will decrease its intake of civil servants next year, with the number of new recruits set to drop from 3,000 in 2018 to 1,500 for 2019.
— Vientiane Times

Switzerland provides 5.5b kip to support BioTrade in Laos
The Swiss State Secretariat for Economic Affairs (SECO) has provided more than 5.5 billion kip (US$651,293) to implement a project in Laos in support of regional BioTrade.
— Vientiane Times

See here for more of today’s Lao morning news

Malaysia morning news

Compiled by Sreypov Men @MenSreypov

Malaysia bets on durian as China goes bananas for ‘world’s smelliest fruit’
The stinky, spiky durian is set to become Malaysia’s next major export as the South-East Asian nation rushes to develop thousands of acres to cash in on unprecedented demand for the fruit from China.
— The Star Online

Malaysia is Airbnb’s fastest growing market in SEA
Malaysia is Airbnb’s fastest growing market in Southeast Asia, where the country welcomed over 2 million guests in the past 12 months as of July 1, 2018, marking a 99% growth year-on-year.
— The Sun Daily

Malaysia’s Finance Minister Says Crypto Issuance Must Defer to Central Bank
Malaysian Finance Minister Lim Guan Eng has stated that any entity wishing to issue cryptocurrency must defer to the country’s central bank, Bank Negara Malaysia (BNM). The minister’s comments were reported by local English-language daily broadsheet the New Straits Times (NST) Nov. 26.
— Coin Telegraph

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Mark Roy @electricnerve

Suu Kyi must fulfill responsibility to Myanmar to resolve Rohingya issue
In order to resolve the serious humanitarian crisis in Myanmar, the leadership of State Counselor Aung San Suu Kyi, the country’s de facto head of government, is indispensable.
— The Japan News

South Africa will reverse its vote on Myanmar
South Africa will reverse its position and vote next month in the UN General Assembly for a resolution strongly condemning human rights abuses – including alleged genocide – by the Myanmar military against the Muslim minority Rohingya people.
— Daily Maverick

Foreign investment reaches to US$6,119 M in 2017-18 FY
Foreign investment reached to over US$6,119 million in 2017-18 FY and more than US$2,100 million of them are invested in industrial sector, according a financial report of Myanmar Investment Commission (MIC) for 2017-18 FY.
— Eleven Media

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Fiscal gap swells as spending surges in Oct 2018
The country’s fiscal deficit ballooned by 175 percent to P59.9 billion in October from only P21.8 billion a year ago as revenue failed to keep up with the government’s aggressive spending program, the Bureau of the Treasury reported yesterday.
— The Philippine Star

Loan releases under P3 program top P2B
Loans released by the government under the Pondo sa Pagbabago at Pagasenso (P3) program for micro enterprises have topped P2 billion, a Cabinet official said on Monday.
— The Manila Times

Chinese Firm To Create 50,000 Jobs In Mindanao
Panhua Group, a Chinese steel company, will set up a steel factory for $3.5 billion in investment at the PHIVIDEC Industrial Estate of the Misamis Oriental-Special Economic Zone in Mindanao, Philippines
— Investvine

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Mark Roy @electricnerve

Singapore SMEs get a leg-up going digital with wholesale trade industry digital plan
MORE than 33,000 small and medium-sized enterprises (SMEs) in Singapore can stand to gain from the new wholesale trade industry digital plan (IDP) launched on Monday by Senior Minister of State for Trade and Industry Koh Poh Koon during his visit to SATS BRF Food.
— The Business Times

Singapore manufacturing surprises on the upside with 4.3% growth in October
Singapore’s manufacturing output grew 4.3 per cent year on year in October, more than rebounding from September’s marginal 0.1 per cent fall and exceeding economists’ expectations of 2.6 per cent growth, according to preliminary estimates from the Economic Development Board on Monday. Excluding the volatile biomedical manufacturing sector, output grew 3 per cent.
— The Business Times

STOC resumes operations as police investigation into alleged criminal defamation case goes on
Local sociopolitical website The Online Citizen (TOC)’s chief editor Terry Xu announced on Monday that his site will resume operations again while an investigation by the police into a case of criminal defamation continues.
— Mothership

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre @photo_journ

Border & cross border trade to fall just shy of 1.5 trillion baht target
Thailand’s border and cross border trade during the first 10 months of this year exceeded 1 trillion baht, but the Department of Foreign Trade (DFT) still believes it will fall short of the 1.5 trillion baht target for the year.
— NNT

TMB: Exports to weaken
Next year Thailand’s economic growth and exports are anticipated to be below this year’s rates, mainly because of heightening external risks, says TMB Analytics, a research unit of TMB Bank.
— Bangkok Post

THAI expects Cabinet nod next month for purchase of new aircraft
SUMETH Damrongchaitham, president of Thai Airways International, said he expects the Cabinet to approve the airline’s proposal to purchase new aircraft by next month.
— The Nation

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men @MenSreypov

Vietnam is scheduled to export milk products to China in 2019
Three leading Vietnamese dairy producers, including Vinamilk, TH True Milk and Moc Chau Milk, are the first to tap in the Chinese market, local media reported.
— Hanoi Times

Foreign investors pour nearly US$ 31 billion into Vietnam
As of late November 2018, Viet Nam absorbed US 30.8 billion of FDI, equivalent to 93.2% against the same period last year.
— Vietnam Insider

Vietnam wins big at international math competition
All 36 Vietnamese students won prizes when competing in the World of Mathematics Team Competition (WMTC) held in Varna, Bulgaria from November 19 -26.
— VNA NET

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.

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