Asean Morning News For August 28

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Trump seen as the only obstacle to the rise of Asean
TRANSPORT connectivity and digital technology will transform the Asean economy and make it one of the world’s economic powerhouses, said experts yesterday.
— The Nation

America losing its soft power in Asia (2)
SOME of these phrases were repeated and embellished in the Asean-Plus Three (China, Japan, and South Korea), the East Asean Summit and the Asean Regional Forum meeting statements. But these are all chairman’s statements of Asean-Plus meetings and not a consensus joint statement by Asean members alone.
— Malaya

PHL leads Asean in Gallup poll on people’s migrant acceptance
With millions of Filipinos being hosted in various parts of the globe, the Philippines is ready to return the favor by being the Southeast Asian country that is most accepting of migrants, according to the latest Gallup poll.
— Business Mirror

ACPA to raise local accountants to Asean level
The Malaysian Institute of Accountants (MIA) is encouraging its members to apply for the Asean Chartered Professional Accountant (ACPA) to gain better recognition overseas.
— Daily Express

China needs to take initiative in trade with ASEAN
This year is the 50th anniversary of the establishment of the Association of Southeast Asian Nations (ASEAN), and next year is the 15th anniversary of the setting up of the China-ASEAN strategic partnership. In 2010, the China-ASEAN Free Trade Area was launched as the third-largest free trade zone for China. Looking back over the past 14 years, the trade between China and ASEAN has not only promoted bilateral economic development, but has also contributed new vitality into the world economy and trade.
— Global Times

ASEAN Automotive Aftermarket Revenue is Expected to Reach US$ 48 Bn by 2026 End
In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN.
— SatPRNEWS (media release)

Maximizing benefits from ASEAN Free Trade Agreements
THE Association of the Southeast Asian Nations (ASEAN) celebrated a milestone on Aug. 8 with its 50th anniversary, with the Philippines as the chairman and host of the celebration.
— BusinessWorld Online

HSBC heralds Asean spending upsurge to foster digital age
Asean has pledged to double its investment on infrastructure to more than US$700 billion over the next five years to support connectivity in the region, as the market is being shaped by the adoption of digital technologies, says HSBC.
— Bangkok Post

Jiffy to expand its presence in ASEAN Market
PTT Retail Management Company Limited (PTTRM) is expanding its convenience store company Jiffy to Laos, aiming to establish 97 branches by 2022.
— NBT World (video)

ASEAN Business Awards regional finalists
As another week has quickly passed us by, we are getting closer to the ASEAN Business Awards (ABA) Gala Night this coming September! Last week, I shared with you the Philippine finalists chosen by the Philippine deliberation steering committee.
— The Philippine Star

Editorial: ASEAN’s biggest challenge is confronting China
The Association of Southeast Asian Nations has made great strides in its 50-year history. From its start as a grouping of anti-Communist states formed against the backdrop of the Cold War, the bloc has evolved into a framework for regional cooperation with a major presence in the international community. But ASEAN, which marked the anniversary of its founding on Aug. 8, now faces a number of new challenges.
— Nikkei Asian Review

Cambodia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

The Southern Economic Corridor: Boosting Trade and Investment in Cambodia
Stretching eastwards from Myanmar through Thailand and Cambodia to Vietnam, the Southern Economic Corridor (SEC) aims to further integrate the Association of Southeast Asian Nations (ASEAN) by improving connectivity and trade.
— Asean Briefing

Cambodia threatens purge of critical media and US charity
Cambodia has threatened to close three foreign media outlets and a US charity, accusing them of operating illegally or owing millions in back taxes, in what appears to be a coordinated purge of government critics.
—The Guardian

Thousands of migrants must depart Thailand
More than 3,300 undocumented Cambodian migrant workers, including children, have been deemed ineligible for legal status in interviews with the Thai Labour Ministry and will now have to leave the country, according to Thailand’s Employment Department.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Rama Ariadi @AriadiRama

Indonesia needs to realize its sharia economy potential
Finance Minister Sri Mulyani Indrawati has said that Indonesia needs to spread knowledge about the sharia economy to the public so the country with the world’s largest Muslim population could unearth the great potential of its Islamic economy.
— The Jakarta Post

Bank Indonesia rate cut shows comfort with outlook
The benchmark rate was cut by a quarter point to 4.5%, with all but six of the 28 economists surveyed by Bloomberg having predicted it would stay on hold.
— Bangkok Post

Indonesia tests if 7th rate cut can lift frustratingly soft consumption
A cut in interest rates by Indonesia’s central bank may not be enough to give sluggish consumer spending a jolt, as weakness in purchasing power and a reluctance by banks to lend undercuts efforts to boost Southeast Asia’s biggest economy.
— Reuters

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Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

VUFO vows to work for stronger Vietnam-Laos ties
The Vietnam Union of Friendship Organisations (VUFO), the Vietnam-Laos Friendship Association and its chapters at all levels will continue trying their utmost to nurture the friendship and special solidarity between the two countries, said a VUFO official.
— Vietnam Plus

Fund extends support for environmental, social protection
The Environmental Protection Fund (EPF) has committed over 14.5 billion kip to support the protection of forests and forest resource management activities in five target provinces and the capital.
— Vientiane Times

Ministry throws weight behind scientific research
The Ministry of Science and Technology plans to foster scientific research and scholarly development in the field to meet the country’s future development needs.
— Vientiane Times

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Malaysia hands over body to US Navy
The Navy handed over remains found near the collision of USS John S McCain and an oil tanker on Tuesday to its US counterparts.
—The Star Online

Malaysia’s Runaway Bride
Banking consolidation in Malaysia is proving to be fiendishly tough. Blame it on a runaway bride, but leave room to lament the country’s fraught racial relations.
—Bloomberg

Malaysia Inflation Eases Further in July
Malaysia’s inflation eased further in July due to moderating fuel prices, official data showed Wednesday, marking the fourth consecutive month where it slowed from an eight-year high of 5.1% in March.
—Fox Business

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Myanmar Morning News

Compiled by Sreypov Men @MenSreypov

KIA classifies northern Namti as restricted area
The Kachin Independence Army (KIA) has issued a notice classifying northern Namti in Mogaung township a restricted area due to military situation.
— Myanmar Times

Thousands of Rohingya flee Myanmar for Bangladesh
Thousands of Rohingya Muslims have crossed into Bangladesh since Myanmar announced a military buildup in violence-hit Rakhine state earlier this month, according to community leaders.
— Al Jazeera

Economy More Important Than Democracy in Myanmar, Survey Says
Myanmar people rated economic development as more important than democratic reform, according to a survey of Myanmar public opinion by the International Republican Institute (IRI) released on Tuesday.
— The Irrawaddy

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Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Philippines’ 50 Richest 2017: Three Tycoons Whose Net Worths Soared
The gainers hailed from a wide range of sectors, from finance and media to food & beverage and logistics. But most represented were those whose interests relied heavily in property development and construction.
— Forbes

PH shares fall for 3rd day as foreign funds exit PSE
Philippine shares fall for a third day as foreign investors turn net sellers, snapping a 10-day streak of inflows.
— ABS-CBN (video)

Uber spends P100 million to assist drivers
UBER PHILIPPINES (Uber Systems, Inc.) said it has spent around P100 million for financial assistance to its over 36,000 drivers who have been affected by the month-long suspension of its operations by the government.
— BusinessWorld Online

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

USS John S McCain collision: Search area expanded further, Australia joins effort
Search and rescue operations for the missing sailors from USS John S McCain have been further expanded to cover a wider area, said the Maritime and Port Authority (MPA) on Wednesday (Aug 23).
— Channel NewsAsia

JV bags Singapore office building for $525 million
Allianz Real Estate has joined forces with the Keppel Group to acquire Hongkou Soho, an office building in Singapore, for $525 million.
— Real Estate Investment Times

Singapore firm inks deal to run Cambodia’s first oil field
Cambodia on Wednesday signed a deal with a Singaporean energy company to develop its first-ever oilfield, the latest move in the impoverished country’s much-delayed plan to become an oil-producing nation.
— ABS-CBN News

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Thailand delays launch of $3 bln infrastructure fund again
The launch of Thailand’s 100 billion-baht ($3 billion) infrastructure fund is likely to be delayed to after September, a senior finance ministry official said on Wednesday.
— Reuters

Ministry set to revise export target to 6-6.5%
The Commerce Ministry looks set to revise its full-year export growth target to 6-6.5% from 5% after Thai exports rose at a double-digit pace for the fifth straight month in July.
— Bangkok Post

Thailand teeters on Yingluck trial verdict
A Supreme Court verdict due on August 25 could imprison former Thai Prime Minister Yingluck Shinawatra for ten years for alleged “negligence” in her management of a loss-making rice price support scheme before the military toppled her elected government in a May 2014 coup.
— Asia Times

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

VN Index rises slightly on investor bottom fishing
The benchmark VN Index rose slightly on Wednesday morning, lifted by investors’ interest in buying stocks that have declined to relatively attractive levels.
— Bizhub

Q2 consumer confidence at five-year high
Consumer confidence in Vietnam continued to see significant improvements in the second quarter that helped the country become the fifth most optimistic globally, with an index score of 117, 5 points higher than in the fourth quarter of 2016 and the highest for the last five years, according to the latest Nielsen’s Consumer Confidence Index released on August 23.
— Vietnam Economic Times

406 SOEs approved for divestment in 2017-2020
The divestment list, proposed by the Ministry of Planning and Investment, aims to raise funds for the nation’s public investment plan for the 2016-20 period, and advance the SOE restructuring process.
— VietnamNet Bridge

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.