Asean Morning News For August 2

Asean Morning News For August 2
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Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Asean-Hong Kong FTA set to be signed
The free trade agreement between Asean and Hong Kong will be signed at the 31st Asean Summit in November in the Philippines, according to Thailand’s Department of Trade Negotiations.
— The Nation

Philippines signs Asean protocol on electronic exchange of trade data
The Philippines can now exchange shipment information electronically with exporters and importers in Asean countries to facilitate trade in the region.
— Business Mirror

ASEAN-EU plans joint statement on climate change
Senior officials from ASEAN and the European Union are working on a joint statement on climate change to show their solidarity and commitment to the Paris Agreement.
— Myanmar Times

PIA XI scales up info kiosks with continued ASEAN advocacy
The community advocacy about the Association of Southeast Asian Nations (ASEAN) in Davao del Norte goes on, scaling up the number of established Information Kiosks to eight.
— Philippine Information Agency

Tillerson to travel to Philippines, Thailand, Malaysia
US Secretary of State Rex Tillerson will travel to the Philippines, Thailand and Malaysia from Aug 5 to Aug 9, the State Department said on Tuesday (Aug 1).
— Channel NewsAsia


Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov


Cambodia facing economic peril
The ecosystem of the gigantic lake whose annual flood cycle has been the pulse of Cambodia for millennia, and on which millions depend for food and irrigation is set to spectacularly collapse, throwing into question everything from Cambodia’s food security, to its economy, to its demographics.
— The Star Online

Banking sector FDI spikes on new banks and higher caps
Inflows of foreign capital into the Kingdom’s banking sector nearly doubled during the first half of the year as two heavyweight players entered the local market and lending institutions responded to revised minimum capital requirements, a central bank official said yesterday.
— The Phnom Penh Post

Cambodia PM orders closure of child sex slave charity
Cambodia’s premier Hun Sen today ordered a Christian charity that rescues child sex slaves to be shut down, after it featured in a recent CNN report that he described as an “insult” to his country
— Malay Mail Online

See here for more of today’s Cambodia Morning News 


Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Deadline for Indonesia to be Free from Measles and Rubella
President Joko Widodo (Jokowi) has expressed his hope that Indonesia would be free of rubella and measles by 2020.
— Netral News

CIC-backed Indonesian miner Bumi completes $2.6b rights issue, saved from collapse
Bumi Resources, an Indonesian mining company backed by China Investment Corporation (CIC), has completed the much-awaited $2.6 billion (Rp 35 trillion) rights issue that will now save the company from a total collapse.
— Deal Street Asia

Bali Sees Significant Increase in European Tourists
Indonesia’s efforts to boost foreign tourist arrivals have had significant success in Bali on the back of improved connectivity.
— Jakarta Globe

See here for more of today’s Indonesia Morning News 


Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat


Lao gov’t approve Chinese company to conduct SEZ feasibility study
Lao government has given the green light for a Chinese company to conduct a feasibility study on developing the Khonphapheng Special Economic Zone (SEZ) in southern Laos’ Champassak province, local media reported on Tuesday.

Govt claims no knowledge of Kotee abduction
The government and military regime denied Tuesday any role in the reported abduction and disappearance of red shirt supporter Wuthipong Kochathamakun, better known by his nickname Kotee.
— Bangkok Post

Agricultural producers propose lowering electricity costs
The government has been unable to resolve the cost of electricity for agricultural entrepreneurs, while the cost to import from neighbouring countries remains high.
Vientiane Times 

See here for more of today’s Lao Morning News 


Malaysia morning newsMalaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat


Malaysian Fund Tied to Scandal Misses Payment to Abu Dhabi
Malaysia’s scandal-hit sovereign wealth fund has missed a July deadline to make about $629 million in payments as part of a settlement with an Abu Dhabi government fund, a setback to efforts to clean up a yearslong financial mess.
The New York Times 

Sunway plans RM460mil transit-oriented development in Kajang
Sunway Bhd is taking over a discontinued commercial development project in Kajang and aims to replace it with a mixed development having an estimated gross development value of RM460mil.
The Star Online 

Malaysia’s Bond Recovery Is Under Threat
Malaysia’s bonds are coming back in favor but the respite may be brief. The level of the nation’s foreign reserves is coming under scrutiny as investors brace for outflows from emerging markets.

See here for more of today’s Malaysia Morning News 


Myanmar morning newsMyanmar Morning News

Compiled by Sreypov Men    @MenSreypov


Trade deficit reaches $ 1.77 billion
There has been trade deficit of US$ 1.77 billion during the first four months of this fiscal year, according to the Commerce Ministry.
— Eleven Myanmar

As demand rises, local coffee could emerge as key national export
Coffee could be the next big export product for Myanmar. But the industry needs support and protection from the government to produce the crop and before local growers start competing in the international market, Myanmar Coffee Association chair U Ye Myint, told The Myanmar Times.
— Myanmar Times

Myanmar: MOSB gets nod for offshore base; MEDC to complete Sakura tower by 2019
Myanmar Offshore Supply Base has received the approval from the Myanmar Investment Commission to set up operations in Mawlamyine. Meanwhile, the Myanmar Economic Development Corporation Public Company expects to finish work on Sakura Business Center in Ahlone township by 2019.
— Deal Street Asia

See here for more of today’s Myanmar Morning News 


Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


PHL enters $3-trillion global halal market
THE Philippines is now ready to join the $3.2-trillion global halal market after the Philippine Halal Export and Development Promotion Board, led by the Department of Trade and Industry (DTI), adopted on July 26 the implementing rules and regulations (IRR) of Republic Act 10817, or the Philippine Halal Export Development and Promotion Act of 2016.
— Business Mirror

Philippines has highest HIV infection growth rate in Asia-Pacific: UN
The Philippines has registered the fastest-growing HIV/AIDS epidemic in the Asia-Pacific in the past six years with a 140-percent increase in the number of new infections, the health ministry and the United Nations said on Tuesday.
— Channel NewsAsia

BPO automation may displace 40,000, add 700,000 jobs
The shift to automation can displace 40,000 low-skilled workers in the business process outsourcing industry, but will open up job opportunities for nearly 700,000 higher-skilled counterparts, an industry official said Tuesday.

See here for more of today’s Philippines Morning News 



Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat


Any minister accused of improper conduct must clear his name publicly: PM Lee
Any minister who is accused of improper conduct must clear his name publicly and not allow the allegations to “fester and affect the reputation of the Government”, Prime Minister Lee Hsien Loong said on Tuesday (Aug 1).
Channel NewsAsia 

Most Singapore SMBs won’t pay ransomware demands
Most small and midsize businesses (SMBs) in Singapore do not believe in paying off ransomware demands, despite one in six having experienced downtime lasting more than 25 hours during such attacks.

Corporate governance reaches new high but better stakeholder engagement needed
SINGAPORE companies have raised their corporate governance practices to a new level, going by the Singapore Corporate Governance and Transparency Index (SGTI) released on Tuesday. Closer examination, however, reveals that more remains to be done in areas such as disclosures of stakeholder engagement.
The Business Times 

See here for more of today’s Singapore Morning News 


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


Shipper council raises 2017 export outlook to 5%
The Thai National Shippers’ Council (TNSC) has revised the 2017 export growth forecast up to 5% from its previous forecast of 2.5-3.5%, as exports rose in the second quarter of the year, indicating recovery in major importing countries.
— Bangkok Post

Thailand pushes to put electric cars on the road
Gen Navin Damrigan, the deputy secretary-general to the prime minister for political affairs, visited NBT World studio to share useful information about Thailand’s electric car dream, considering the perspective of both producers and users.

Flood situation persisting across Sakon Nakhon
Waters in municipal Sakon Nakhon have begun to subside but are mostly draining into the Nong Han Lake area, causing levels to rise in some other flooded districts.

See here for more of today’s Thailand Morning News


Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

Multi-dollar tax evasion discovered in import companies

A number of enterprises have taken advantage of technology used for tax collection to avoid paying taxes.
— VietnamPlus

Tokyo Gas acquires stake in PetroVietnam subsidiary
Tokyo Gas, through its subsidiary Tokyo Gas Asia, has acquired a stake of 24.9% in PetroVietnam Low Pressure Gas Distribution (PVGas D) for an undisclosed price.
— Energy Business Review

JETRO connects food and agriculture enterprises
The number of Japanese restaurants has been rapidly increasing in the two major cities of Hanoi and Ho Chi Minh City in recent years as domestic food consumption becomes more diversified.
— Vietnam Economic Times

See here for more of today’s Vietnam Morning News 

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.



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