Asean Morning News For June 26

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Asean terrorism: Expect the worst before it’s solved
FROM the obvious and undeniable fact that our Asean allies, primarily Indonesia and Malaysia, plus Australia, the US, Japan, South Korea, India, Russia and China have cooperated with the Philippines in different ways—from sending spy planes to sharing military intelligence information, actual maritime security operations and exercises and “commitments to cooperate” a number of horrible realities emerged:
— The Manila Times

MOC promotes business network between Thai CLMV investors
The Permanent Secretary of the Ministry of Commerce (MOC) disclosed that the Ministry of Commerce will pursue its policy of promoting business networks between Thai investors and leading trade and investment groups in CLMV countries, in order to increase Thai investors opportunities in .
— NNT

Cargo firm bullish on Asean trade prospects, sees further growth in PHL
“Let us make [the] Philippine shipping competitive in an Asean context. It can be a threat to some, but there are also lots of opportunities. With economics of scale wherein you have efficient companies that have a bigger scale within Asean, they can also bring down the cost of shipping,” Royal Cargo Group CEO Michael Kurt Raeuber said in a recent interview on the sidelines of the arrival of the company’s first-ever container vessel at the Batangas Port.
— Business Mirror

Export high owes itself to good luck
Although Thai exports rose to a four-year high last month, it’s still too early to pop the champagne. There remain many challenges ahead for the market. After all, it wouldn’t be a stretch to say that that exports rose largely due to luck.
— Bangkok Post

First J/Speedy Card in the ASEAN Region to be issued by BDO
Manila, Philippines and Tokyo, Japan, June 26, 2017 – (ACN Newswire) – JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the launch of the J/Speedy JCB card in the Philippines with BDO Unibank, Inc. (BDO), the largest bank in the Philippines in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide. Card issuance has started this month, for the first J/Speedy JCB card to be launched in the ASEAN region.
— SYS-CON Media (press release)

Japanese warship takes Asian officials on tour in South China Sea
Japan’s largest warship sailed into the disputed South China Sea with Asian military guests on board, in defiance of Chinese assertiveness. According to reports, the guests were taken to witness helicopters looping over the tropical waters and gunners blasting target buoys.
— International Business Times

BSP’s plan to sign pact with Asean-5 to enhance trade
THE Bangko Sentral ng Pilipinas (BSP) is seen signing bilateral agreements under the Asean Banking Integration Framework (Abif) with the founding members of the Association of Southeast Asian Nations—or Asean-5—as it prepares to touch base with its Singaporean counterpart this year.
— Business Mirror

INSIGHTS into the WORLD / ASEAN engaging in shrewd diplomacy
Soon after his inauguration in January, U.S. President Donald Trump declared his country’s withdrawal from the Trans-Pacific Partnership free trade agreement, ditching the economic linchpin of Washington’s policy of “rebalancing” toward Asia.
— The Japan News

Siah Hwee Ang: Asean is becoming a sound investing alternative to China
Recently, the International Monetary Fund (IMF) raised its growth forecast for the Asia Pacific region to 5.5 per cent in 2017, up from the 5.3 per cent projected six months ago.
— Stuff.co.nz

Building the future: Infrastructure in Asean and South Asia
The members of the Association of Southeast Asian Nations (Asean) and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact.
— Malaya Business Insight

HK plays increasingly important role in facilitating ASEAN-China business co-op: experts
Since its return to China 20 years ago, Hong Kong has been playing an increasingly important role in facilitating business cooperation between the Association of Southeast Asian Nations (ASEAN) and China, experts told Xinhua.[Special coverage]
— ecns

Cambodia Morning News

Compiled by Leakhena Khat @leakhenakhat

New rules for digital payments
The central bank has issued new regulations governing the licensing of payment services providers (PSPs), requiring that all firms providing online services to accept electronic payments have at least $2 million in registered capital, a move expected to increase the stability of the sector and encourage the consolidation of its smaller players.
— The Phnom Penh Post

Smooth sailing for port’s IPO
Earlier this month Sihanoukville Autonomous Port (PAS) became the fifth listed firm on the Cambodian Securities Exchange (CSX) following an initial public offering that raised $27 million. The Post’s Brian Ng sat down with Shuzo Shikata, CEO of SBI Royal Securities (SBIR), the sole underwriter of the IPO, to discuss the state-owned port operator’s journey to becoming a public listed company.
— The Phnom Penh Post

Ministry preparing to begin flights to Australia, Cambodia
The Ministry of Culture, Tourism and Civil Aviation is doing homework to begin air services with Australia and Cambodia.
— The Himalayan Times

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Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Police Record 598 Road Accidents During Idul Fitri Exodus
The National Police recorded 598 road accidents from June 19 to 22 as travelers continue to embark upon the annual Idul Fitri exodus to the countryside.
— Jakarta Globe

End of an Era: All 7-Eleven Stores to Be Closed by Month-End
Modern Sevel Indonesia, a retailer unit of Modern Internasional, a listed company controlled by the Honoris family, has announced it will close all of its remaining 120 7-Eleven outlets across the country.
— Jakarta Globe

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Lao PDR Morning News

Compiled by Cara Navarro @cara_nav

Demarcation complete, Luang Prabang eyes investment to push SEZ project ahead
Development of a US$1.2 billion special economic zone (SEZ) in Luang Prabang province has faced delays attributed to project demarcation now completed while its developer seeks further investment and financial backing.
– Vientiane Times

MoEM Discuses Energy Market Development
The Ministry of Energy and Mines (MoEM) and the United Nations Industrial Development Organization have discussed energy market development in the region.
– Lao News Agency

Thailand, Laos join hands to fight against human trafficking
Ubon Ratchathani province and Phonthong district in Laos have collaborated to organize activities against human trafficking for the year 2017 along the borders.
– NNT

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Malaysia Morning News

Compiled by Leakhena Khat @leakhenakhat

Investors pour US$9bil into Asian bonds, Malaysia benefits
Asia bond demand is running at its highest level in eight months and looks set to stay firm this year, boosted by the region’s higher returns at a time when stubbornly low inflation in the United States is keeping a lid on Treasury yields. Malaysia, South Korea and India among beneficiaries.
— The Star Online

PTT investigating Malaysia-Thailand Joint Development Area gas field shutdown
Thai energy company PTT is investigating a shutdown at a natural gas field in the Malaysia-Thailand Joint Development Area (JDA) in the Gulf of Thailand, it said.
— The Star Online

Malaysia’s June 1-25 palm oil exports down 2.1% on month — ITS
Exports of Malaysian palm oil products for June 1-25 fell 2.1% to 985,534 tonnes, from 1,006,757 tonnes in the same period in May, cargo surveyor Intertek Testing Services said on Saturday.
— The Edge Markets

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Myanmar Morning News

Compiled by Cara Navarro @cara_nav

Korea-backed industrial zone to locate in northern Yangon
South Korea and Myanmar have reached an agreement to establish an industrial zone in northern Yangon, and constructions will begin in early 2018, Daw Moe Thida, assistant director of the Department of Urban and Housing Development (DUHD), told The Myanmar Times on June 21.
– The Myanmar Times

Oil and gas sector needs efficient pipelines
The Myanmar government urged EU companies to invest in the country’s energy sector as industry insiders noted that gas exploration is one of the biggest opportunities in the power-hungry Southeast Asian country.
– The Myanmar Times

Border trade over US$1.4 billion, decrease of US$ 19 million in export
Border trade from 1st April to 16th June 2017 hit US$ 2.47 billion, a decrease of US$ 19.86 million in export and an increase of US$ 70.55 million in import, according to the official statistics of the Ministry of Commerce.
– Global New Light of Myanmar

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Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

BSP to seek qualified banks deal with Singapore
THE Bangko Sentral ng Pilipinas (BSP) will be working on a possible bilateral agreement with the Singapore central bank that would allow qualified banks to operate subsidiaries in each other’s markets.
— The Manila Times

China funding 2 MM bridges
Malacañang has welcomed China’s latest grant to finance the construction of two bridges that aim to ease traffic woes in Metro Manila.
— Manila Bulletin

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

SINGAPORE’S GROWTH IN 2017 SET TO RISE DESPITE UNEVEN SECTOR PERFORMANCE
Improved growth dynamics and the ongoing recovery in global trade mean a higher growth forecast of 2.7% for Singapore’s gross domestic product (GDP) in 2017, according to ICAEW’s latest Economic Insight: South East Asia report. However, growth will remain uneven across sectors due to differing external and internal factors.
— CFC Innovation

Singapore firms see silver lining in eldercare industry
AS Singapore strives towards its Smart Nation vision, it cannot escape the fact that it is also an ageing society.
— The Business Times

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Commerce Ministry forecasts 5% jump in Thai exports this year
The Ministry of Commerce has reported an outstanding performance by Thai exports so far this year, voicing confidence that the 5-percent growth target will be achieved.
— NBT World (video)

Thailand readied for ICAO ramp tests
Thailand has been readied for the International Civil Aviation Organization (ICAO) to conduct ramp tests for aviation safety measures in July.
— NBT World (video)

Ex-Democrat MP doubts transport minister tells the truth about Thai-Chinese train project
Former Democrat MP Samart Ratpolasit questioned the claim by Transport Minister Arkhom Termpittayapaisit that China was reluctant to invest in the Thai-Chinese high-speed train project between Bangkok and Nakhon Ratchasima, saying he didn’t think the minister told the truth.
– Thai PBS

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Vietnam Morning News

Compiled by Cara Navarro @cara_nav

Vietnam leads Asia in women leadership: Deloitte Global
Vietnam has the highest percentage of women leadership in Asia, according to the report “Women in the boardroom: A global perspective” of the Deloitte Global.
– NNT

Korea’s Hanwha, BCG Bang Duong ink deal to build solar power plant
BCG Bang Duong Joint Venture and South Korea’s Hanwha Group have signed an agreement to set up a US$100 million solar power plant in Long An Province.
– Viet Nam News Bizhub

IPO to look out for: VN Rubber Group’s mega-land bank
With a massive land fund, Vietnam Rubber Group (VRG) is a name many investors pay close attention to. However, due to its huge capitalisation, VRG has yet to select a strategic investor, although there are only a few days until its initial public offering (IPO).
– 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.