Asean Morning News For June 23

Asean Morning News For June 23
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Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


New heights for ASEAN–China commercial diplomacy in aviation
In 2010 ASEAN and China concluded an air transport agreement to establish a liberalised market access regime for both sides’ airlines. Yet the benefits from the arrangement were unbalanced, with China making much bigger gains in access than the ASEAN states. A closer look at this imbalance makes clear the need for a true single market in aviation across ASEAN.
— East Asia Forum

Singapore: Qualgro spins out $50m+ ASEAN-focused fund
Qualgro and Gordian Capital today announced the spin out of the Qualgro ASEAN Fund I, L.P. from the Gordian Capital platform, with a corpus in excess of $50 million.
— Deal Street Asia

Vietnam leads ASEAN in cloud computing spending growth
Vietnam recorded the fastest growth among ASEAN countries in cloud computing spending in the 2010-2016 period, Dr. Vu Minh Khuong, Associate Professor at the Lee Kwan Yew School of Public Policy at the National University of Singapore told the “Fourth Industrial Revolution: Fostering Digital Transformation with Could Computing” conference held on June 22 in Hanoi.
— VietNamNet Bridge

MICE roadshow highlights Thailand-Laos synergies
A TOTAL OF 11,274 meeting, incentive, conference and exhibition (MICE) travellers crossed from Laos to Thailand in 2016, an increase of 38.18 per cent over the previous year.
— The Nation

Japanese ICT firms urged to use Malaysia as stepping-stone to Asean
Malaysia Digital Economy Corp (MDEC) is urging Japanese information and communication technology companies to use the Southeast Asian country as a stepping-stone to tap into the 10-member Association of Southeast Asian Nations market.
— Bangkok Post

Asean holds opportunities for industrial IOT: Wouter van Wersch, GE
Wouter van Wersch, the President and CEO of GE ASEAN, predicts that industrial internet of things adoption will see “trillions of dollars” in value as more than 50 billion machines and 9 billion people get connected – bringing productivity gains of $8.6 trillion for industrial companies in the next 10 years.
— Deal Street Asia

As salinity intrudes into the Mekong Delta, farmers lose yields and income
With its long coastline and low topography, the Mekong Delta in Vietnam has been facing some of the worst impacts of climate change. Seawater intrusion has been expanding in the 13 provinces of the delta in recent years, threatening its hugely productive rice fields and fruit and vegetable gardens.
— Mekong Commons

Setting the example in Asean
As chair and host of the Association of Southeast Asian Nations (Asean) this year, all eyes are on the Philippines to demonstrate leadership in the various areas on which the 10 member-states of the regional bloc have built their cooperation.


Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat


1.1 tons of cocaine hidden among frozen mackerel
The authority said yesterday this was the biggest cocaine smuggling haul found in China in recent years. The cocaine, packed in a container, was scheduled to be transported from South America to Cambodia, stopping in Shanghai for the goods to be transferred.

Uber begins trial version of ride-hailing app in Kingdom
Uber, the world’s biggest ride-hailing service, has launched a “test-mode” version of its smartphone application in Phnom Penh, bringing it a step closer to becoming the first international heavyweight to officially operate a ride-hailing service in the Kingdom.
 The Phnom Penh Post 

Cambodia Plans to Launch National Pension Fund
The Cambodian government has released its strategic plan to develop the country’s financial sector over the next 10 years, which includes creating a national pension fund.
— Chief Investment Officer 

See here for more of today’s Cambodia Morning News 


Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


World Bank’s Financing Arm to Lend BTPN $100m
The International Finance Corporation — the World Bank’s financing arm for the private sector — will provide $100 million in financing and microfinancing for mid-sized lender Bank Tabungan Pensiunan Nasional (BTPN), according to a statement released on Thursday (22/06).
— Jakarta Globe

Duterte to discuss with Widodo about IS presence in the Philippines
Philippine President Redrigo Duterte was expected to discuss over the phone with his Indonesian counterpart, Joko Widodo, on Wednesday about the reported claim of the presence of more than 1,000 IS operatives in the Philippines, according to The Manila Times Online report on Thursday.
— Thai PBS

Bali‘s Economic Growth Higher than Indonesia‘s Economic Growth
The representative office of Bank Indonesia for Bali said the economy of the province is predicted to grow 6.19 – 6.59 percent in the third quarter of this year.
— Netralnews

See here for more of today’s Indonesia Morning News 


Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro    @cara_nav


Consultation process has cleared Pak Beng dam in Laos
Construction of the controversial Pak Beng dam in Laos is to start now that the consultation process concluded on Monday, despite demands from local and international civil society groups for a day of the construction until the release of an environmental assessment report from the Mekong River Commission due later this year.
– Thai PBS

Japan grants human resource development in Laos
The Government of Japan announced a grant for human resource development scholarships to Laos worth nearly 24 billion kip (US$2.9 million) yesterday in the capital.
– Vientiane Times

Investors Call For Head of Lao Agro Company to Step Down Amid Debt Default
Investors are calling for the director of an agricultural company running a pyramid scheme in Laos to step down after defaulting on repayment of millions of U.S. dollars, saying he no longer has the trust of the firm’s stakeholders.

See here for more of today’s Lao Morning News 


Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat


Singaporean firm to build platform for Malaysia’s life insurers
A unit of Singapore-based tech firm Silverlake Axis has won a contract to develop a digital platform for life insurance and takaful providers in Malaysia.
— International-Adviser 

S&P unconcerned by Malaysia election and corruption uncertainty
Political uncertainty surrounding upcoming elections and the 1MDB scandal were not enough to shake S&P’s confidence in Malaysia, with the ratings agency maintaining the country’s position as the poorest nation to hold a rating of A- or above with all three major ratings agencies.
— Financial Times 

Malaysia’s IHH Healthcare dismisses report it’s close to buying Fortis
Malaysia’s healthcare services provider IHH Healthcare Berhad today said it is not close to “concluding any negotiations” to buy controlling stake in Fortis Healthcare.
— Business-Standard 

See here for more of today’s Malaysia Morning News 


Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro     @cara_nav


7.9% inflation forecast
The average inflation rate in May was 5.96 per cent, with the highest rates reported in Rakhine, Kachin and Shan states, according to the Central Statistical Organisation.
– Eleven Myanmar

Private investment reach Ks500bn
Until mid-June of this fiscal year, total private investment exceeded Ks501 billion, including US$224 million from 24 domestic investors, according to the Myanmar Investment Commission (MIC).
– Eleven Myanmar

$1.8b FDI approved for 2017-18 so far
The Myanmar Investment Commission (MIC) has approved a total of US$1.85 million worth of investments from 66 foreign businesses and K501 billion worth of investments from 24 Myanmar citizens for fiscal year 2017-18.
– The Myanmar Times

See here for more of today’s Myanmar Morning News 


Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


SEC approves FLI unit’s P6-billion bond offering
THE SECURITIES and Exchange Commission (SEC) has approved the application of Cyberzone Properties, Inc. to float up to P6 billion worth of bonds to finance its ongoing developments.
— BusinessWorld Online

“Philippines should increase share in $20B Asia-Pacific veg market”
The Asia-Pacific region has a $20-billion vegetables market, of which the Philippines only accounts for $240 million. The data from Euromonitor were highlighted at a recent forum organized by East West Seed Company, which is looking to make the Philippines a top exporter of vegetable seeds.
— Fresh Plaza

Gov’t debt as share of GDP falls to 34.6%
GENERAL government (GG) debt as share of the economy continued to decline in end-2016, even though the total rose in absolute terms, the Finance department said yesterday.
— BusinessWorld Online

See here for more of today’s Philippines Morning News 



Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat


The $100 Billion City Next to Singapore Has a Big China Problem
The $100 billion city rising from the sea next to Singapore has hit a roadblock: China’s capital controls.
— Bloomberg 

Singapore: Qualgro spins out $50m ASEAN-focused fund from Gordian Capital platform
Qualgro and Gordian Capital today announced the spin out of the QUALGRO ASEAN FUND I, L.P. from the Gordian Capital platform. Since 2005, Singapore-based Gordian Capital has provided a regulated, physical and operational infrastructure for institutional quality teams seeking to launch Private Equity, Venture, Capital, Real Estate, Private Credit and hedge funds.
— Deal Street Asia 

Business email impersonation scams on the rise, police warn
Scams involving spoofed business email addresses are on the rise, with victims being deceived into transferring money to foreign bank accounts for business payments.
 Channel NewsAsia 

See here for more of today’s Singapore Morning News 


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


Thai-Chinese high-speed train project is a big flop: Dr Nualnoi Trirat
Scholars participating in a panel discussion on the Thai-Chinese high-speed train project between Bangkok and Nakhon Ratchasima at Chulalongkorn University on Thursday were skeptical with the project with one of them predicting that the project is bound to be a big flop.
— Thai PBS

PM assures investors of govt’s efforts to push infrastructure projects
The Prime Minister led his economic team to assure investors of Thailand’s commitment to move forward with its infrastructure projects and ensure a smooth transition of power after the next year election.

PM invites foreign investors to EEC with pledges of tax incentives, and law amendments
Prime Minister Gen Prayut Chan-o-cha today pledged foreign investors with the amendment of existing and promulgation of laws to facilitate their investments in the country, in particular the Eastern Economic Corridor (EEC).
— Thai PBS

See here for more of today’s Thailand Morning News


Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro    @cara_nav

New department launched to accelerate agricultural export
The Ministry of Agriculture and Rural Development (MARD) on Wednesday launched Agro Processing and Market Development Authority (AgroTrade).
– Viet Nam News Bizhub

Will FDI in Vietnam retreat after FED raises the interest rate?
FED has decided to raise the prime interest rate by another 0.25-1.25 percent per annum, raising the concern that the foreign direct investment (FDI) flow to Vietnam will slow down.
– VietnamNet Bridge

Vietnam leads ASEAN in cloud computing spending growth
Spending on cloud computing heading upwards, conference hears, but still remains much lower than regional peers.
– Vietnam EconomicTimes

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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