Asean Morning News For August 18

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Scientists potentially narrow MH370 search area to 3 spots
Scientists have potentially narrowed the search area for the missing Malaysian airliner to three specific locations in the southern Indian Ocean through new satellite and drift analysis of the 2014 crash released Wednesday.
— Pattaya Mail

The promise and perils of democratising Asean — Moe Thuzar and Nur Aziemah Aziz
The Association of South-east Asian Nations (Asean) has committed to being a regional organisation that serves the interests of its people. Although often criticised as being detached from the masses, Asean has stepped up efforts to engage its 645 million-strong community.
— Malay Mail Online

Cover Story: Homegrown startup makes it big
AIR Asia and Grab are arguably Malaysia’s best known mass consumer brands across the region. But that is where the similarity ends.
— The Edge Markets

Asean stocks inch higher as investors cheer Fed caution on rates
Most South-east Asian stock markets edged up today after investors took heart from the minutes of a US Federal Reserve meeting that showed policymakers wary about weak inflation, indicating that the Fed may slow the pace of rate increases.
— Malay Mail Online

The future of ASEAN’s digital economies
ASEAN countries are set to enter the top five global regions in terms of the application of digital technologies. By 2025, the manufacturing sector will have embraced fast evolving advanced technologies and its citizens will be increasingly using advanced digital communications in their personal lives as well as in the workplace.
— Myanmar Times

ASEAN Economic Community is vulnerable – economist
Fifty years since its inception, the Association of Southeast Asian Nations’ (ASEAN) ambition to achieve regional economic integration remains beset by vulnerabilities, an economist said Thursday, citing historical differences, non-binding agreements, and divergent perspectives.
— GMA News

China Is Increasing Its Share of Southeast Asia’s Infrastructure Pie
Companies from the world’s second-biggest economy are increasingly targeting the region for investment, especially into infrastructure. That’s a potential boon for developing economies, which need a massive upgrade of roads, rail, and ports if they are to meet their economic potential. It also comes amid a wider crackdown by regulators in Beijing on outbound investment.
— Bloomberg

Cracking a Code of Conduct for the South China Sea
Coming to an agreement on a legally-binding Code of Conduct for the South China Sea will be a challenging task, Wei-chin Lee writes.
— Policy Forum

Asean needs to become ‘people-centred’ to be relevant
WHILE MORE and more individuals have become aware of Asean’s existence, few understand what it does and perhaps even fewer identify themselves with it. This begs the question of what good Asean is if its citizens fail to appreciate its existence.
— The Nation

VN, Laos, Cambodia boost security cooperation
Security ministers of Vietnam, Laos and Cambodia gathered at a friendship meeting in Hanoi on August 17 to promote cooperation among the three countries’ security forces.
— Vietnam Plus

Cambodia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

World Bank says Cambodia achieves stellar growth, poverty cut in past 2 decades
Cambodia had achieved high economic growth and poverty reduction in the last two decades, mainly driven by garment exports and tourism, the World Bank said in a report on Thursday.
—Xinhua

Cambodia’s loss of LDC status will bring challenges: World Bank
As Cambodia continues its upward trajectory towards becoming a lower-middle-income country, it will face even greater challenges in reducing high levels of poverty as the Kingdom loses its preferential trade privileges and donor funding dries up, according to a new World Bank report.
—The Phnom Penh Post

Cambodia and China to sign MoU on nuclear technology
Cambodia and China are close to the signing of an agreement that will bring Cambodia a step closer to developing its own nuclear technology for peaceful purposes, according to The Phnom Penh Post Online on Thursday (Aug 17).
—Thai PBS

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Indonesia Morning News

Compiled by Rama Ariadi @AriadiRama

Soft Start Expected For Indonesia Stock Market
The Jakarta Composite Index now rests just above the 5,890-point plateau although it’s expected to run out of steam on Friday.
— Business Insider

Bank Indonesia Seeks Transformation by 2024, Vows to Protect the State’s Interests
On top of the program, Bank Indonesia also upholds its responsibility to maintain the stability of the rupiah, keep the inflation between 3 percent and 5 percent this year, develop payment systems and expand the financial market.
— Jakarta Globe

Indonesian Discount Day targets Rp 20t in transactions
Indonesian Discount Day (HBDI), the first of its kind to be held in the country, is targeted to earn up to Rp 20 trillion (US$1.5 billion) in transactions when it sweeps across malls all over the country from Aug. 15 to 17.
— The Jakarta Post

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Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

E-commerce set to boom in Laos but no laws to regulate sector
The e-commerce market in Laos is set to take off amidst the rapid growth of internet penetration in the region but the country still does not have laws to regulate such activities, experts have noted.
— Vientiane Times

Laos-Cambodia border returning to normalcy: Lao official
The governments of Laos and Cambodia are working together to address border issues in a peaceful means, bringing the situation back to normalcy, Phengsavanh Keopaseuth, head of National Border Committee of Lao Ministry of Foreign Affairs, told a press conference Thursday.
— Xinhua

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Malaysia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Malaysia’s e-commerce industry now a RM24.6bil business – iPrice
The Malaysian e-commerce industry has grown steadily after its boom in the mid-2000s and is now a RM24.6bil business, said iPrice Group.
—The Star Online

PM announces special tax incentive for NCER players
Prime Minister Datuk Seri Najib Tun Razak today announced a special tax incentive for the Northern Corridor Economic Region (NCER) to boost investment in the region.
—Astro Awani

Fitch affirms Malaysia’s rating at A minus, Stable outlook
Fitch Ratings has affirmed Malaysia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘A-‘ with a Stable Outlook.
—The Star Online

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Myanmar Morning News

Compiled by Sreypov Men @MenSreypov

Shares of 55 companies can soon be traded locally
55 public companies which were given the green light to sell shares in the local over-the-counter (OTC) market must receive official permission from the Securities and Exchange Commission of Myanmar (SECM) first, U Htay Chun, member of the commission, told The Myanmar Times.
— Myanmar Times

Fiscal deficit halves in 2016-17, but shortfalls in revenue and expenditure
The budget deficit for the 2016-2017 fiscal year ended March 31, 2017 was a little over half of the official target as a result of government under-spending, according to the preliminary data released to members of the parliament.
— Myanmar Times

Tax changes take sparkle out of Gems Emporium
Gem and jade traders say an increase in taxes is the main reason why sales have become sluggish at one of the government’s most important revenue-generating events.
— Frontier Myanmar

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Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Net ‘hot money’ inflow hit six-month high of $206.47M in July
The Bangko Sentral ng Pilipinas yesterday reported a net “hot money” inflow of $206.47 million in July, the highest in six months, partly on the back of investors’ positive reaction to the President’s report on his first year in office.
— Philippine Daily Inquirer

Peso slips to fresh low
THE PESO slipped to another near 11-year low amid strong appetite for the dollar intraday despite upbeat Philippine economic growth data and dovish minutes form the US Federal Reserve.
— BusinessWorld Online

Philippine GDP grows faster by 6.5% in Q2 2017
As agriculture recovers and government spending picks up, the country’s gross domestic product (GDP) grew 6.5% in the 2nd quarter of 2017, recovering from a slowdown for the past 3 quarters.
— Rappler

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Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Betting on big caps? 40% of them on SGX beat market yield
DO BIG-CAP stocks offer safer bets? So far this year, those listed on the Singapore Exchange seem to have done that and more.
— The Business Times

Singapore launches first donor breast milk bank
For 35-year-old Madam Nor Adliyah Haryanie, the birth of her baby boy in July via an emergency caesarian-section came as a shock, since she had previously had three normal-term babies. But what was even more stressful was that her son was born prematurely at 30 weeks, weighing just 800 grams.
— Channel NewsAsia

Singapore’s export growth shows sustained demand for electronics
Singapore’s core exports grew slightly below expectations in July but shipments of electronics accelerated, bolstering the outlook for the year.
— Nikkei Asian Review

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Thailand Morning News

Compiled by John Le Fevre @photo_journ

TDRI urges investment expansion to ASEAN nations
The Thailand Development Research Institute (TDRI) has joined hands with the Board of Investment to organize the Thailand Overseas Investment Forum 2017, during which investors were advised to penetrate ASEAN markets.
— NBT World (video)

Thai second-quarter GDP growth seen cooling slightly on weaker investment: Reuters poll
Thailand’s economic growth is expected to have cooled slightly in the second quarter as public and private investment slowed, offsetting some of the boost from stronger exports and tourism, a Reuters poll showed.
— Reuters

Ministry seeks S44 order to clear startup barriers
The Finance Ministry will seek the government’s approval to invoke the powerful Section 44 of the interim charter to push the enforcement of a startup law as a tool to temporarily bypass laws considered stumbling blocks.
— Bangkok Post

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Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

SOEs facing divestment to be made public soon
At the meeting with MPI, ministries of Finance and Justice, as well as the Government Steering Committee on Corporate Renovation and Development, Huệ asked the MPI to submit the list of SOEs to be divested by 2020 to Prime Minister Nguyễn Xuân Phúc for approval.
— VietnamNet Bridge

MoF considers excise taxes on soft drinks
The Ministry of Finance (MoF) has proposed the addition of soft drinks to the list of goods subject to special consumption tax, including carbonated soft drinks, non-carbonated soft drinks, energy tea drinks, and instant coffee.
— Vietnam Economic Times

Vietnam fires vice trade minister amid graft crackdown
Vietnam (AP) ” Vietnam’s vice trade minister has been fired for alleged wrongdoing as the ruling Communist Party widened its crackdown on corruption.
— New Zealand Herald

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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.