Asean Morning News For August 25

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

SE Asia stocks move sideways
Most Southeast Asian stock markets moved sideways in low-volume trade on Thursday in the absence of market-moving triggers, while investors remained focused on a meeting of central bankers in Jackson Hole later in the day.
— Malaya

ASEAN youth gather to solve transnational crimes through technology
As many as 37 young emerging leaders from 10 ASEAN countries participate in a two-day technology workshop on transnational crimes and security, as part of the activity of Young Southeast Asian Leaders Initiative (YSEALI).
— Antara News

US may sanction four countries for refusing deportees
The United States could impose additional penalties on four countries that are not cooperating with requests to take back their citizens, a Department of Homeland Security (DHS) spokesman said Wednesday.
— Bangkok Post

How Australia can reimagine ties with Southeast Asia
ASEAN has achieved much in its 50 years, but it is currently perceived as underperforming and facing difficult challenges ahead. Australia, as ASEAN’s longest-standing partner, should support its multilateralism, look for opportunities to deepen the relationship, and show area-specific leadership in Southeast Asia, Huong Le Thu writes.
— Policy Forum

Vietnam calls for greater Asean unity over South China Sea
VIETNAM’s most senior political leader has called upon Asean to embrace greater unity over issues in the contested South China Sea.
— Asian Correspondent

PH real estate market struggles to keep pace with ASEAN neighbors
Because of restrictions to foreign ownership, the Philippine property market will continue to struggle in keeping pace with its Southeast Asian neighbors in terms of being lucrative investment havens, a data from real estate services firm JLL showed.
— Manila Bulletin

Solar Philippines eyes Southeast Asian expansion
Solar Philippines is looking to build around 200 megawatts (MW) of solar farms in Indonesia, Myanmar and other parts of Southeast Asia in 2018, its top official said.
— The Philippine Star

Asean’s obligation to migrant workers
In June 2014, the Thai government abruptly decided to crack down on undocumented migrant labour in the country, resulting in a mass exodus of some 220,000 Cambodian migrant workers who poured back across the border into Cambodia, leaving authorities here to deal with a sudden and unexpected influx of people in need of jobs.
— The Phnom Penh Post

Singapore, Thailand sign 2 deals to boost tech links
Singapore and Thailand have inked two deals to deepen links between their technology ecosystems and help Singapore start-ups gain a foothold in the kingdom.
— The Straits Times

Indonesia calls for stronger health cooperation within ASEAN
The health ministry of Indonesia on Thursday urged ASEAN member nations to step up cooperation in the health sector in a bid to prevent the spread of diseases in the region.
— Xinhua

MinDA’s Alonto calls on ASEAN neighbors to build stronger ties
Mindanao Development Authority (MinDA) chair Datu Abul Khayr D. Alonto called on members of the 10-country Association of Southeast Asian Nations (ASEAN) to build stronger ties with their neighbors in order to move in “united steps in the midst of disputes and differences.”
— Minda News

Jakarta to Host Asean 50 Parade on Sunday
Jakarta will host the Asean Parade on Sunday (27/08) to commemorate the 50th anniversary of the establishment of the Association of Southeast Asian Nations, and promote the city as the region’s diplomatic capital.
— Jakarta Globe

ASEAN China UNDP Symposium in Chiang Rai
The ASEAN-China-UNDP Symposium on Financing the Implementation of the Sustainable Development Goals in ASEAN was held during 21 – 22 August 2017 in Chiang Rai, Thailand.
— NBT World (video)

Cambodia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Japan Invests in Cambodia’s Deepwater Port
The government-run aid organization Japan International Cooperation Agency (JICA) has given the green light to a $209 million low-interest loan for a new container terminal at Sihanoukville Autonomous Port, Cambodia’s only deep-water seaport.
— The Maritime Executive

KrisEnergy set to launch development of Cambodia’s first oil field
Cambodia and KrisEnergy, an Asia-focused E&P company, have signed fiscal and technical agreements paving the way for the development of the country’s first oil field, more than a decade after its discovery.
— S&P Global Platts

Government closes 15 radio stations
The Ministry of Information yesterday claimed its shuttering of 15 radio stations across the country was not targeted at independent broadcasters, and took aim at the Cambodia Daily for failing to pay a huge tax bill, hours after the US State Department labelled the tax measure exorbitant and biased.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Rama Ariadi @AriadiRama

Indonesian E-Commerce Potentially Bigger than Korea, India
Indonesia has the potential to be the third largest e-commerce market in the world above South Korea.
— Tempo (EN)

Bank Indonesia Lowers Interest Rates In Attempt To Boost Growth
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.
— Forbes

Indonesia`s economy projected to grow 5.3-5.7 percent in 2019: BI
The Indonesian economy is projected to grow by a range of 5.3 to 5.7 percent in 2019 as a result of the current structural reform, a Bank Indonesia official said.
— Antara

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Sonca Storm Damages Estimated at 55.5 Billion Kip
The Ministry of Labour and Social Welfare has estimated the damages caused by recently tropical storm Sonca at 55.5 billion kip.
— Lao News Agency

Banana exports drop after govt tightens regulations on growers
The export value of bananas in the first six months (Q1 and Q2) of this year decreased compared to the same period last year and is expected to decline further.
— Vientiane Times

Cambodia, Laos find common ground after border row
Cambodian Interior Minister Sar Kheng has met his Lao counterpart, just weeks after a row between the two countries saw Prime Minister Hun Sen deploy troops to the Stung Treng provincial border.
— Bangkok Post

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Trump to meet Malaysian leader amid regional tug of war with China
A meeting between the leaders of Malaysia and the United States is the latest salvo in the ongoing battle for supremacy in Southeast Asia between Washington and Beijing, experts say.
—CNN International

EcoWorld named Aon Best of the Best Employers in Malaysia
Property developer Eco World Development Group Bhd (EcoWorld) has been named Aon “Best of the Best Employers in Malaysia” for the second consecutive year.
—The Edge Markets

McDonald’s introduces Durian McFlurry in Malaysia outlets
Durian fans were probably holding their breath for this – and on Thursday (Aug 24), fast food giant McDonald’s launched the D24 Durian McFlurry in Malaysia.
—Channel Asia

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Sreypov Men @MenSreypov

Funny money in Myanmar’s fintech sector
A prominent mobile money company appears to be flaunting regulations aimed at providing consumer protections in the burgeoning sector.
— Frontier Myanmar

Mandalay merchants deny scandal
Merchants from Mandalay Region have rebutted a social-media rumor that six bean dealers have stolen millions of kyat.
— Eleven Myanmar

Intellectual property laws needed to attract fresh foreign investment
Four laws related to protecting intellectual property (IP) are expected to be enacted soon to attract more foreign investment into Myanmar, especially from Japan, said Mr. Hiro Yamaoka, managing director of the Japan External Trade Organisation (JETRO).
— Myanmar Times

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

PSEi gains .08%, breaches 8,000 level
The local stock barometer yesterday crept back to the 8,000 level in thin trade ahead of a closely watched central bank symposium in Jackson Hole.
— Philippine Daily Inquirer

190,000-Strong national police to counter ouster plot against Duterte
The Philippine National Police said it is prepared to counter groups that are calling for the ouster of President Rodrigo Duterte.
— Update Philippines

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore financial sector conducts terror, cyber attack simulation to test business continuity
Singapore’s financial sector underwent simulated terrorist and cyber attacks on Thursday (Aug 24), as part of efforts to ensure they had good plans in place in the event of such crises.
— The Straits Times (paywall)

Income tax, GST take taxman’s haul to new peak of S$47b
DESPITE a subdued economy, the Inland Revenue Authority of Singapore (IRAS) collected S$47 billion in tax revenue for its financial year ended March 31, 2017, up 5 per cent from S$44.8 billion a year ago.
— The Business Times

36 buildings may have combustible cladding that don’t meet safety standards; police investigating
A total of 36 buildings here may have used external cladding that do not meet fire safety requirements here, said the Singapore Civil Defence Force (SCDF) on Thursday (Aug 24).
— Channel NewsAsia

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

World Bank raises Thailand growth forecast to 3.5%
The Thai economy is expected to grow 3.5% this year, up from 3.2% initially predicted in April, and rising to 3.6% next year, the World Bank said on Thursday.
— Bangkok Post

OECD cooperates with Thailand to drive the country into digital economy
The Organization for Economic Co-operation and Development (OECD) is ready to cooperate with Thailand to drive the country into full digital economy in accordance with the Thailand 4.0 policy.
— NNT

Thailand joins air treaty for protection of passengers
After a seven-year process, Thailand has ratified a global treaty that will bring an end to the “liability lottery” that passengers, shippers and airlines now face.
— Bangkok Post

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Nearly 2000 business conditions up for the chop
A whopping 1930 conditions on licensing, registration and operations of businesses could be removed under the latest proposal made by the Ministry of Planning and Investment (MPI).
— Viet Nam News

Vietnam calls for Southeast Asian unity amid South China Sea tension
Vietnam’s most powerful leader has called for greater unity among Southeast Asian states at a time the country has appeared increasingly isolated in challenging China’s territorial claims in the South China Sea.
— Business Insider

Sugary drinks may get unsavoury tax
As the mother of an obese 10-year-old boy from Hanoi, Nguyen Huong Lan has to do battle with retailers, friends, family, and nursery workers to police her son’s intake of sugary drinks.
— 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.