Asean morning news for November 28,

Asean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

China Plans Deep Sea Autonomous Submarine Base In South China Sea
Responding to the call of President Xi Jinping in April at the Chinese Academy of Sciences, scientists now said they plan to set up a deep-sea defense and science base to be run entirely by artificial intelligence.
— Business Times

Growing risks to the Asean economy
IN 1997, the devaluation of the Thai baht marked the start of a crisis that decimated many Asian economies.
— New Straits Times

Asean supply chains in good stead for US-China trade war, says economist
THE Asia-Pacific could benefit from a US-China trade war, though to call Asean a sure winner in supply chain migration may be “tricky”, said an economist at a forum on Monday (Nov 26).
— The Business Times

The rise of the “mass affluent” in Asean will transform consumer economy: BCG report
Southeast Asia’s consumer economy will soon be transformed by the rise of the “mass affluent” as tens of millions from the middle class join their ranks, according to a new report by The Boston Consulting Group (BCG).
— The Business Times

Asian Development Bank signals bond siege
he November edition of the Asian Development Bank’s local-bond publication, reviewing the August-October quarter in nine East Asian markets, cited higher yields, currency depreciation and reduced foreign holdings as likely trends into next year against the backdrop of emerging economy “risk aversion” and developed-world monetary-policy adjustment.
— Asia Times

Southeast Asia’s electric car revolution
Driving attitudes across the region has changed dramatically with the introduction of electric vehicles into the personal mobility market.
— The Asean Post

Singapore, Malaysia and Indonesia listcos less exposed to cyber threats than global peers: Survey
LISTED companies in Singapore, Malaysia and Indonesia are less exposed to cyber threats, on average, than their global peers, a new study has found.
— The Business Times

Seoul’s new multi-entry visa eases way for Vietnamese, other Southeast Asian visitors
Citizens of 11 Southeast Asian countries will be able to visit Korea more easily when Seoul’s new visa measures start next month, if they meet certain background conditions.
— The Korea Times

Skype co-founder raises $105m for Southeast Asian fintech startup
Skype co-founder Geoffrey Prentice has raised $105 million in the first significant funding round for his latest venture, a microlending business in Southeast Asia, intensifying the battle for the region’s vast unbanked population.
— Nikkei Asian Review (paywall)

Southeast Asia Needs to Choose Between the US, China on Principles, Experts Say
With the intensifying rivalry between the United States and the People’s Republic of China, Southeast Asian countries can no longer sit on the fence, and have a tough choice to make.
— The Epoch Times

Cambodia morning news

Compiled by Sreypov Men @MenSreypov

The EU’s dilemmas over trade access and human rights in Asia
What price should workers in Cambodia and Myanmar, two of the poorest countries in the world, pay because of their governments’ severe violations of human rights?
— World Policy Review

‘Terrorist’ Serey to ‘halt activities’ and form party if Kem Sokha ‘released’
Sam Serey, the leader of the Khmer National Liberation Front (KNLF), who is accused by authorities of being an armed rebel leader against the government of Prime Minister Hun Sen, has declared that he plans to “halt activities” and return to Cambodia if certain conditions are met, including the “release” of former opposition leader Kem Sokha.
— The Phnom Penh Post

PM Hun Sen blasts people who insult him and government to gain asylum
Prime Minister Hun Sen today blasted some people who tried to insult him and the government in order to obtain political asylum in third countries.
— Khmer Times

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Indonesia to keep CPO export tax at zero, cocoa at 5 pct for Dec
Indonesia will keep the export tax for crude palm oil (CPO) at zero and the export levy for cocoa at 5 percent for December, Oke Nurwan, a senior official of the trade ministry, told reporters on Tuesday.
— Reuters Africa

Indonesia gives first report on deadly Lion Air crash on Wednesday
Indonesian investigators will deliver their first report into the Lion Air crash on Wednesday, a month after the brand-new Boeing 737 crashed into the sea, killing all 189 on board in the country’s second-worst air disaster.
— Reuters

Bank Indonesia revises down GDP growth projection in 2019
Bank Indonesia (BI) Governor Perry Warjoyo announced on Tuesday the revision of its gross domestic product (GDP) projection for 2019 to between 5 and 5.4 percent from its initial projection of between 5.1 and 5.5 percent.
— The Jakarta Post

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Lao PDR morning news

Compiled by Mark Roy @electricnerve

IN 2018, THE GOVERNMENT ADJUSTED ITS OIL PRICE FOUR TIMES AND REVISED 9 TIMES
The sixth session of the Sixth National Assembly convened on 26 November 2018 at the National Assembly (Main 6). President of the National Assembly Standing Committee of the National Assembly (NA) and the members of the National Assembly (NA) attended the election.
— Vientiane Mai

NA member speaks out against loans to SMEs
The government can acquire money from other sources for injecting into small and medium-sized enterprises (SMEs) rather than issuing loans, which would only add to the country’s debt.
— Vientiane Times

Lao Cai border gate economic zone to drive province’s growth
The Lao Cai border economic zone will be developed into an industrial, urban, trade and service hub, serving as a driving force for the growth of the northern mountainous province of Lao Cai, according to the zone’s master plan.
— VietnamPlus

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Malaysia morning news

Compiled by Sreypov Men @MenSreypov

Petronas to hike govt payout as Q3 profit jumps 43%
Petroliam Nasional Berhad, or Petronas, today said it will increase its dividend payout to the government after its third-quarter net profit jumped on higher revenue and oil prices.
— FMT

Malaysian retailers target 5pc retail sales growth in 2019
The Malaysia Retail Chain Association (MRCA) expects retail sales to grow by 5 per cent in 2019 in line with nation’s gross domestic product (GDP) growth.
— Malay Mail

Airbnb in discussions with authorities to collect tourism tax
Airbnb, an online marketplace for hospitality service, is in discussions with the relevant authorities and ministries to implement the voluntary collection agreement (VCA) to collect tourism tax.
— The Borneo Post

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Mark Roy @electricnerve

Beijing urges gov’t to get ball rolling on China-Myanmar Economic Corridor
The vice chairman of China’s top economic planning agency has pushed Myanmar’s State Counselor to work out an implementation plan for the China-Myanmar Economic Corridor, a part of Beijing’s Belt and Road Initiative (BRI).
— The Irrawaddy

Integration expected to upgrade Myanmar’s regulatory environment
Myanmar’s expected integration with the ASEAN Economic Community (AEC) at the beginning of next year will translate into an upgrade in the regulatory environment, attracting further regional investments, a leading Singapore group said on the sidelines of a recent forum.
— Myanmar Times

Activists stage protest to demand right to control resources in Myanmar’s Rakhine
More than 1,000 activists from 17 townships in western Myanmar’s Rakhine state demanded the right to control the impoverished region’s natural resources — most notably oil and gas — during a protest in Kyaukphyu township on Tuesday, an event organizer said.
— Radio Free Asia

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Philippines, China set out 10-yr infra cooperation program
The Philippines and China have set out a ten-year cooperation program on infrastructure that is hoped to outlive the term of President Rodrigo Duterte, according to a copy of an agreement between the countries released by the Palace on Tuesday.
— ABS-CBN News

Duterte gov’t tally: Nearly 5,000 killed in ‘drug war’
Over two years since President Rodrigo Duterte launched his campaign against illegal drugs on July 1, 2016, nearly 5,000 people have been killed, according to the Philippine Drug Enforcement Agency (PDEA).
— Rappler

China, PHL eyeing $8.4-billion industrial park investments
BEIJING is penciled to deliver over $8.37 billion of investments in industrial park development as part of its program for cooperation with Manila signed during Chinese President Xi Jinping’s state visit last week.
— Business Mirror

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Mark Roy @electricnerve

Singapore to remain attractive to investors for the next 10-20 years: report
Strong demand from tech occupiers underpin its occupancy and rent growth.
— Singapore Business Review

Bill tabled to place crypto payment services Under Central Bank oversight
A new bill which will impact electronic wallets and digital payment tokens such as bitcoin has been tabled in Singapore’s parliament.
— CCN

Scoot passengers stuck in Tokyo, Bangkok for 30 hours as technical issue grounds aircraft
Passengers on a Scoot flight bound for Singapore were kept waiting for almost 30 hours in Tokyo and Bangkok on Monday (Nov 26) due to an aircraft technical issue.
— The Straits Times

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre @photo_journ

Govt offers free dinner, free visa too
THE GOVERNMENT and the private sector are launching joint campaigns to bring back Chinese tourists during the peak festive season and hope that this will help Thailand reach this year’s tourism targets.
— The Nation

MPI up 4% last month
The manufacturing production index in October was at 112.79, up 4.08% year-on-year and 1.55% from the previous month on automotive, cigarette, sugar, petroleum and air-conditioner production.
— Bangkok Post

Arrivals up 20% in wake of VOA exemption, officials claim
Tourist arrivals to Thailand are reportedly up 20% in the latter half of November in response to the government’s visa-on-arrival (VOA) fee waivers, with India the star market.
— Bangkok Post

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men @MenSreypov

Forestry export estimated at 9.3 bln USD in 2018
Vietnam’s forestry product export is expected to reach 9.3 billion USD this year, according to the Ministry of Agriculture and Rural Development’s Vietnam Administration of Forestry (VAF).
— Vietnam+

Vietnam expects to export 1.7 mln tonnes of coffee this year
Vietnam expects to export 1.7 million tonnes of coffee this year, earning about 3.5 billion USD, said Chairman of the Vietnam Coffee – Cocoa Association (VICOFA) Luong Van Tu.
— Vietnam+

Vietnam to build expressway linking two provinces on China border
Vietnam plans to build a 115km expressway connecting northern Lang Son and Cao Bang provinces on the Chinese border to foster their development.
— VnExpress

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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