Asean Morning News For June 6

Asean Morning News For June 6
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Asean morning newsAsean Morning News

Compiled by AEC News Today    @aecnewstoday


PH, Indonesia start talks for entry of qualified Asean banks
The central banks of the Philippines and Indonesia have started discussions to allow the entry of qualified Asean banks (QABs) in each other’s jurisdictions.
– Philippine Daily Inquirer

Start-up battle for grants
Twelve start-up travel enterprises from Cambodia, the Lao PDR, Myanmar and Vietnam will vie for a top prize of USD10,000 as they pitch their business plans to a panel of judges at the Mekong Tourism Forum, 6 June in Luang Prabang.
– TTR Weekly

Global crackdown pledged in fight against illegal tuna fishing
FORTY-EIGHT of the world’s largest businesses, including retailers and fishing companies from across the tuna supply chain, yesterday announced a commitment to stamp out illegal fishing and forced labour in the industry.
– The Nation

Asean needs to invest in infra, enhance connectivity– Stratbase study
ASSOCIATION of Southeast Asian Nations (Asean) member states need to invest in infrastructure and adopt measures to enhance connectivity for a seamless integration process crucial to achieving high income status, a new study showed.
– The Manila Times

Is labour mobility enough?
AMIDST rising protectionist sentiments worldwide, Asean, turning half a century in August, continues its integration towards achieving a people-centred, people-oriented and resilient community.
– New Straits Times

Asia has crucial role in globalisation: Vietnam PM
Prime Minister Nguyen Xuan Phuc yesterday emphasised the key role of Asia in globalisation, naming three key measures for the region to tackle major challenges.
– Eleven

Southeast Asia is losing best and brightest to richer nations
Nyl Patangan, a nursing graduate from the Philippines, left his native land in search of a better life. Now working in a Chicago hospital after a stint in Dubai, he’s supporting his parents back home and is buying his mother a Toyota Vios.
– Government & Economy

ASEAN PE growth driven by demographic dividend: Chua Soon Ghee, AT Kearney
Chua Soon Ghee, the Managing Partner of management consulting firm AT Kearney for Southeast Asia, sees the ASEAN Economic Community (AEC) serving to enhance the competitiveness of the region as growth continues and the economies mature.
– Deal StreetAsia

Mazda targets 50% growth in ASEAN
Mazda Motor has said it aims to lift its annual sales in the ASEAN region to 150,000 units by end of the 2018-19 fiscal year from 100,000 units in the year ending last March, according to a company statement.
– Just Auto



Cambodia morning newsCambodia Morning News

Compiled by Paul Treacy    @PaulTreacyPhoto


Western policies may slow growth
Long-term growth prospects for developing economies, including Cambodia, will continue to be undermined by a lack of investment as well as the risk of increased protectionist policies by the United States, which could hamper the growth of commodity-driven economies, according to a new report released on Sunday.
— The Phnom Penh Post

Hun Sen wins but opposition gains at pivotal poll
The opposition Cambodia National Rescue Party (CNRP) appeared to make solid gains at Sunday’s highly anticipated commune election, but the ruling Cambodian People’s Party (CPP) once again dominated the democratic contest.
– Asia Times

Rival Cambodian parties both satisfied with election results
Cambodia’s ruling and opposition parties expressed satisfaction with the results of Sunday’s local elections, in which Prime Minister Hun Sen’s ruling Cambodian People’s Party retained its dominance in most regions but lost ground to its opponents.
– The Washington Post

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Indonesia morning newsIndonesia Morning News

Compiled by Leakhena Khat    @leakhenakhat


Indonesia’s 2017 Budget Deficit Estimated at 2.5 Percent of GDP: Finance Minister
Indonesia’s state budget deficit is estimated to widen to 2.5 percent of its gross domestic product by the end of this year from 2.41 percent in the current plan, Finance Minister Sri Mulyani Indrawati told reporters on Monday (05/06).
Jakarta Globe 

Govt Aims to Reduce Logistics Costs to 10 Percent
The government is looking for formulations to reduce logistics costs to 10 percent.
Netral English 

Indonesia has ‘lost interest’ in TPP without US, vice president says
Indonesia has lost its motivation to join the Trans-Pacific Partnership, due to the U.S. withdrawal from the trade pact, the Southeast Asian country’s vice president told the Nikkei Asian Review in an interview on Monday.
Nikkei Asian Review 

See here for more of today’s Indonesia Morning News >>>


Lao PDR morning newsLao PDR Morning News

Compiled by Paul Treacy    @PaulTreacyPhoto


Central Bank: PS must return money to investors
The Bank of the Lao PDR has announced that PS-Agriculture and Industry Development Import and Export Co., Ltd must return money to individuals who have invested in the company.
Vientiane Times

Central Bank Tells PS Lao Enterprise to Stop Illegal Fundraising
The Bank of the Lao PDR has made an announcement telling members of the public not to trust any fundraising activities by the PS-Agriculture and Industry Development Import-Export Co, Ltd, mostly known as PS Lao Enterprise or PS.
— Lao News Agency

Laos, Luxembourg move development forwards
Laos and Luxembourg are moving forward the implementation of a bilateral programme with a national level steering committee and support teams at all levels in place to strive for successful cooperation.
— Vientiane Times

See here for more of today’s Lao Morning News >>>



Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat


Malaysia ranked third in world retail development index
Malaysia has been ranked third in the 2017 Global Retail Development Index (GRDI) by AT Kearney, reported the Malaysian news agency Bernama.

Online Sales In Malaysia To Shoot Up By 50 Pct Throughout Ramadan
Online sales are expected to surge upward by at least 50 per cent throughout the Ramadan and Raya periods this year as Malaysians prepare for the festive season.

Total trade rises to RM139.18 bln in April, exports expand to RM73.97 billion
Malaysia’s total trade in April 2017 expanded by 22.5 per cent to RM139.18 billion compared with the corresponding month last year, with exports increasing by 20.6 per cent to RM73.97 billion.
The Borneo Post Online

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Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat


Myanmar citizens caught selling Rohingya children for $300

Malaysian police rescued 11 Rohingya human trafficking victims in a Kuala Lumpur raid on Saturday morning. The victims – nine of them children – were being held in a “confined space” by six other Myanmar nationals.

Singapore: Spout eyes expansion in Myanmar after closing $2.1m seed funding
Singapore-based Spout Entertainment Group plans to launch an e-education app in Myanmar to grow its presence in the market. The expansion will be supported by funds it raised from venture builder REAPRA in a S$3 million ($2.1 million) seed round.
Deal Street Asia 

Trade at Htikhee trade camp drops five times
Trade at Htikhee trade camp on the Thai-Myanmar border has declined five times this year, compared to the figures in the same periods last year.
Eleven Myanmar

See here for more of today’s Myanmar Morning News >>>


Philippines morning newsPhilippines Morning News

Compiled by Paul Treacy    @PaulTreacyPhoto


World Bank sees steady 6.9% Phl GDP growth
The World Bank expects a steady economic growth for the Philippines until next year, driven by public and private investment.
— The Philippine Star

Tax bill passage credit-positive for PH – Moody’s
The passage of the first package of the proposed Comprehensive Tax Reform Program (CTRP) in the Lower House of Congress last week is credit-positive for the Philippines because it will address the government’s weak revenue generation, credit ratings agency Moody’s Investors Service said.
— The Manila Times

Nickel Markets Can Shrug Off Any Philippine Mining Ban: Russell
Just how worried should nickel markets be about the latest threats by Philippine President Rodrigo Duterte to stop all mining in the world’s biggest exporter of the metal ore? Probably not too much.
— Jakarta Globe

See here for more of today’s Philippines Morning News >>>




Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat


Singapore tops global ranking for online presence
This year’s A.T. Kearney’s Global Cities Index 2017 saw Singapore jumping two spots to rank sixth, the highest ever ranking it has achieved in the Index.
Singapore Business Review 

Record $635m in CPF arrears recovered in 2016
A record $635.1 million in arrears was recovered by the Central Provident Fund (CPF) Board last year, it said in a statement yesterday.
The New Paper 

Medical tourism weakness in Singapore could be temporary: Maybank
Maybank Kim Eng Research continues to rate Raffles Medical Group (RMG) at “buy” as Singapore’s leading integrated healthcare provider, with a “robust track record and exciting development plans” of two hospitals in China.
The Edge Markets 

See here for more of today’s Singapore Morning News >>>


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


Private sector forecasts 3.6% GDP growth as exports improve
Thailand’s economy has continued to recover, while higher agricultural prices have boosted consumer spending and private sector confidence.

Carmakers keen to grab EV privileges
Since the government unveiled its investment privileges for electric vehicles in late March, several carmakers are keen to invest a combined 20 billion baht in making EVs in Thailand, according to the Thailand Automotive Institute.
– Bangkok Post

Show ID before sharing opinions: Interior Minister
The Interior Minister has said the junta will collect the ID numbers of anyone who gives feedback on the four questions about elections posed by junta head Gen Prayuth Chan-o-cha to the public last week.
– Prachatai English

See here for more of today’s Thailand Morning News >>>


Vietnam morning newsVietnam Morning News

Compiled by Paul Treacy    @PaulTreacyPhoto


Vietnam sees highest ranking in history of 2017 Global Retail Development Index

Vietnam has jumped five spots to sixth place in the Global Retail Development Index (GRDI), released by management consulting firm A.T. Kearney today.
– Hanoitimes

6.7 percent GDP growth rate not impossible: Minister
With economic results in the first four months of the year below the average performance in previous years, the National Assembly (NA) is afraid that GDP growth in 2017 can hardly meet the 6.7 percent target.
– VietnamNet

HCM City seeks funds for infrastructure construction
HCM City’s Party Secretary Nguyễn Thiện Nhân has urged the city to call for further investment in infrastructure and to promote public-private partnerships.
– Viet Nam News

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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