Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Consumption growth, not integration, leads investors to ASEAN
A growing consumer market has been identified as the number one attraction of ASEAN, rather than its economic integration, in driving investors into the region, results of a survey conducted among Australian businessmen showed.
— Manila Bulletin
Asean inches closer toward forging RCEP
Members of Asean and their six trade partners are now in the process of identifying products that will be subjected to zero-percent duty under a regional free-trade agreement (FTA), according to Trade Undersecretary Ceferino S. Rodolfo.
— Business Mirror
The Thai government will shelter Rohingya: Another empty gesture for ASEAN’s forgotten victims
The Thai Prime Minister, General Prayut Chan-ocha, announced at the end of August that the Thai government was making preparations to receive Rohingya refugees fleeing violence in Myanmar.
— Asean Today
ASEAN to sign Hong Kong free trade deal in November
The Association of Southeast Asian Nations (ASEAN) is to sign a free-trade agreement with Hong Kong in November, a Philippine government official said Saturday, September 9, following three years of talks.
— Rappler
ASEAN, China, Japan, South Korea eye building broader community
The Association of Southeast Asian Nations (ASEAN) and its three East Asian dialogue partners China, Japan and South Korea reaffirmed on Sunday to further intensify economic cooperation to build a stronger ASEAN Plus Three (APT) community.
— Xinhua
Thailand, Laos, Vietnam compete for Princess’s Cups at long boat racing festival
A long boat race is underway in Bueng Kan province where Thai, Lao, and Vietnamese athletes are competing for the Princess Maha Chakri Sirindhorn Cup.
— NNT
UOB puts focus on Asean investment
UNITED OVERSEAS BANK (UOB), one of the largest Asian banks, is actively engaged in bringing foreign investors to Thailand, particularly the flagship investment project in the Eastern Economic Corridor, according to its chief executive.
— The Nation
ASEAN security personnel barred from using mobile phones
Members of the ASEAN Security Task Force (ASTF) have been ordered not to use mobile phones while on duty.
— GMA News
Japan offers aid package to ASEAN to promote free trade ahead of RCEP powwow
Trade minister Hiroshige Seko on Saturday proposed an aid package for the Association of Southeast Asian Nations to develop the foundations for free trade.
— The Japan Times
Asia-Pacific ministers admit no RCEP agreement by year-end
Economic ministers from 16 Asia-Pacific countries negotiating an alternative trade pact to the floundering Trans-Pacific Partnership (TPP) pact acknowledged on Sunday no agreement will be finalised by year-end.
— Bangkok Post
ASEAN opens grant for social forestry program
The Philippine government-hosted Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA) is calling for applications for a small grants facility that funds social forestry projects. Leah Lyn Domingo, SEARCA public relations specialist, said each member state of the Association of Southeast Asian Nations (ASEAN) is allocated a maximum budget of $25,000 and has the option to propose one or two projects.
— The Manila Times
ASEAN Ministerial Meeting on Countering Fake News held in Quezon City
The ASEAN Ministers Responsible for Information (AMRI) convened today for the Roundtable Discussion on Countering Fake News and Communicating the Right Information at Seda Vertis North in Quezon City.
— Philippine Information Agency
China wins inaugural Asean Makerthon 2017, Malaysia bags third spot
The Hi Team from China’s Harbin Institute of Technology bagged the first prize of US$1,000 (RM4,300) at the inaugural Asean Makerthon 2017, hosted by the Malaysian Communications and Multimedia Commission (MCMC) this evening.
— New Straits Times
Secretariat of House of Representatives helping develop ASEAN law database
The Secretariat of the House of Representatives has joined a number of agencies to create an academic network to help develop a database of ASEAN laws.
— NNT
Cambodia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Exam pass rate increases
The number of students who passed Cambodia’s high-stakes grade-12 exam saw only a slight increase this year, signalling that scores may be plateauing after an overhaul to weed out rampant cheating in 2014.
— The Phnom Penh Post
5 signs of Cambodia’s ‘descent into outright dictatorship’
IT’S a week since independent newspaper The Cambodia Daily closed its doors. It’s swan-song was a final front page that defiantly read, “Descent Into Outright Dictatorship,” in a stark warning of what the future may hold for the country.
— Asian Correspondent
Daily founder claims liability
The founder of the now-shuttered Cambodia Daily, Bernard Krisher, has told Prime Minister Hun Sen in a letter that he will travel to the Kingdom to take on any tax liabilities of his daughter, Deputy Publisher Deborah Krisher-Steele, stemming from the paper’s dispute with the Tax Department.
— The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Rama Ariadi @AriadiRama
Indonesia, Long on Sidelines, Starts to Confront China’s Territorial Claims
Indonesia’s increasingly aggressive posture in the region — including a military buildup in its nearby Natuna Islands and the planned deployment of naval warships — comes as other nations are being more accommodating to China’s broad territorial claims in the South China Sea.
— New York Times
Indonesia positions itself as diplomatic actor in Rohingya crisis, but to what effect?
As the world’s largest Muslim-majority state, Indonesia has long been vocal on issues affecting Muslim communities across the globe.
— Asian Correspondent
Indonesia Bank Rally Imperilled by Sluggish Lending, Bad Loans
Equity analysts are now downgrading banking stocks after the Jakarta Finance Index rallied 21 percent this year — more than double that of the main gauge — as they expect nonperforming loans in the $527 billion industry to creep up again.
— Bloomberg
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Development, GDP per capita gap remains huge, minister says
The gap in overall development and incomes between cities and rural communities is substantial, Minister of Planning and Investment Dr Souphanh Keomixay has said.
— Vientiane Times
Japanese firm to invest US$70m in Xieng Khuang cattle farm of Laos
A Japanese company is in the process of amassing a dairy herd and building a huge milk processing plant in Xieng Khuang province as part of its Australian cattle husbandry project.
— The Nation
Govt vows to further boost economic growth
The Ministry of Finance has been instructed to re-inspect sources of revenue and the taxes paid by businesses as well as identify challenges that need to be addressed in the years to come.
— Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Ringgit uptrend expected to continue till year-end
The ringgit’s upward trend is expected to continue till year-end, increasing the likelihood of it breaching the RM4.00 to US$1 psychological mark sooner rather than later after it broke the 4.20 level last Friday, said Sunway University Business School Professor of Economics Prof Dr Yeah Kim Leng.
— The Sun Daily
New US$238mil fund for tech companies in Malaysia, strengthens ecosystem
THE tech ecosystem in Malaysia received a huge boost this past week with the introduction of a new US$238 million (RM1 billion) fund from Malaysian Debt Ventures (MDV), one of Asia’s leading venture debt specialists.
— Digital News Asia
China investments transforming Malaysia
Although the influx of Chinese investments is only a recent phenomenon, these funds are bringing speedy changes to local industries and the economic landscape.
— The Nation
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Sreypov Men @MenSreypov
Myanmar army ‘using land mines’ against Rohingya
Myanmar’s military has been accused of planting land mines in the path of Rohingya Muslims fleeing violence in its western Rakhine state, with Amnesty International reporting two Rohingya civilians wounded Sunday.
— Bangkok Post
Export value this FY increased by US$433 million
Myanmar’s exports so far this fiscal year were worth US$5.41 billion, an increase of $433 million compared to the same period last year, according to the Commerce Ministry.
— The Global New Light Of Myanmar
Myanmar’s bargaining power rises along the Belt and Road
AS Hong Kong’s second Belt and Road Summit started today in the city The Myanmar Times asked two experts from The Economist Intelligence Unit and Lau China Institute at King’s College, London for their input regarding the dynamics of the Belt and Road Initiative (BRI) and China in relation to Myanmar and ASEAN.
— Myanmar Times
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
DOF: Tax collection from ‘sin’ products to hit P150B in 2018
Tax collection from “sin” products is seen expanding by 4.7 percent to P150.2 billion in 2018 against the 2017 target of P143.5 billion, according to the Department of Finance (DOF).
— Business Mirror
DBS raises PH current account deficit forecast
Singapore-based bank DBS expects the Philippines to post a higher current account deficit this year and the next but notes that the economy has enough buffers to counter the impact.
— The Manila Times
Peso to rise on dollar volatility
THE PESO may sustain its rally this week as the dollar remains weak, with negative news in the United States leaving investors less upbeat, dampened further by the impact of a hurricane that was bound to hit over the weekend.
— BusinessWorld Online
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Japan firms tap Singapore agencies in smart city projects
Japanese companies have been working with Singapore agencies to create smart city solutions that are rolled out in South-east Asia, inevitably providing a boost to their home country’s soft power.
— The Nation
$5.2 million lost to fare cheats on public transport in 2016
But incidences of fare evasion on public transport have fallen, thanks to stiffer fines
— The Straits Times (paywall)
Going cashless in Singapore challenging but not impossible
I opened the DBS PayLah! app, took a photo of a quick response (QR) code on a laminated sheet of paper provided by the hawker and keyed in the amount. The stall holder just had to check my phone screen, which showed the transaction was complete.
— The New Paper
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Government eyes 3.03 trillion baht revenue from tourism next year
The government has set a target to earn as much as 3.03 trillion baht from tourism industry for 2017 with emphasis on “quality” tourists instead of quantity, said government spokesman Lt-Gen Sansern Kaewkamnerd on Sunday.
— Thai PBS
B600-700 minimum wage not possible: Labour spokesman
It is not possible for the daily labour minimum wage to go up to between 600-700 baht per day as proposed by the Thai Labour Solidarity Committee, said Labour Ministry spokesman Ananchai Uthaipattanacheep.
— Thai PBS
Thailand’s Best Group, HK’s Hydoo jointly invest $3b in new landmark
Thai logistics firm Best Group has entered into a joint venture with Hong Kong-listed property firm Hydoo International Holding to develop a Trust City World Exhibition and Trade Centre and an Asean Economic Community fintech hub project with total investment of 100 billion baht ($3 billion).
— Deal Street Asia
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Vietnam prosecutes former c.bank exec for “lack of responsibility”
Vietnam police said on Friday they had charged a former central bank deputy governor with “lack of responsibility”, as the country extends its corruption crackdown in the banking and energy sectors.
— Reuters
State Divestment: Exciting Opportunities For Investors
The government hopes that equitisation will increase the efficiency and improve the management of the State-owned enterprises (SOE) which have been suffering from inefficiency for years.
— Vietnam Briefing
Is Vietnam’s minimum wage structure sustainable?
Next year’s pay rises will still be far below a living wage for those lucky enough to receive them.
— VnExpress
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.
Asean Morning News For September 11 added by Stella-maris Ewudolu on
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Stella-maris Ewudolu
Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.
She joined AEC News Today in December 2016.
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