Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
New Zealand’s trade with ASEAN prosperous: statistics
New Zealand’s two-way trade with the Association of Southeast Asian Nations (ASEAN) was 15.2 billion NZ dollars (10.9 billion U.S. dollars) in the year ended June 2017, the statistics department Stats NZ said on Monday.
— Xinhua
With ASEAN Toothless, The Region Needs a New Naval Pact
The security challenges facing the Southeast Asian region increasingly call into question the relevance of the Association of Southeast Asian Nations, whose inability to assert international law stems from its blind hope that Beijing will hold up to its promises, which has been a failed hope indeed given China’s actions in ignoring all the littoral countries surrounding the South China Sea.
— Asia Sentinel
CIMB Group banking on fintech
ASEAN’S biggest worry right now is not its “lofty” goals of full integration of its capital markets but of being left behind in the Fourth Industrial Revolution, said CIMB Group chairman Datuk Seri Nazir Razak.
— New Straits Times
Most Asean markets fall on caution after N.Korea’s nuclear test
Most Southeast Asian stock markets fell on Monday as North Korea’s latest nuclear test prompted caution across Asian equities, although the Philippines bucked the trend to climb higher.
— The Star Online
ASEAN working together to build single aviation market
Air transport officials of member states of the Association of Southeast Asian Nations (ASEAN) are gathering in Laos to discuss the ASEAN Single Aviation Market, which is seen as one of the key milestones in developing the ASEAN Economic Community.
— Business Standard
Common currency, banking system seen as next step in Asean integration
Fund management guru Mark Mobius has given the 10-member Association of Southeast Asian Nations (Asean) a grade “A” for its integration efforts in the last 50 years and is hoping that the regional bloc would next move toward a common currency and banking system.
— Philippine Daily Inquirer
DTI’s ‘Kapatid Mentor Me’ to be adapted by Asean
IN A bid to boost the micro, small, and medium enterprises (MSMEs) within the member countries of the Association of Southeast Asian Nations (Asean), the Asean Mentors Network (Amen) is targeted to be launched November of this year, said a Department of Trade and Industry (DTI) official.
— Sun Star
Summit on China-ASEAN tourism cooperation to be held in Guangxi
A three-day business and investment summit between China and ASEAN countries is scheduled to open Sept. 12 in south China’s Guangxi Zhuang Autonomous Region, the regional government said Monday.
— Xinhua
EU-ASEAN Business Council Publishes 2017 Business Sentiment Survey
EU-ASEAN Business Council, the primary voice for European business within the ASEAN region, today announced the release of the 2017 EU-ASEAN Business Sentiment Survey. The survey aims to serve as a barometer for the business sentiment and outlook of European businesses in Southeast Asia.
— Markets Insider
ASEAN Automotive Aftermarket to lead at 9.6% CAGR through 2026
In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN. On account of growing out-of-warranty car parc, the US$ 19.3 Bn ASEAN automotive aftermarket is predicted to surpass US$ 48 Bn in revenues by 2026 end, increasing at a healthy CAGR of 9.6% through 2026.
— Medgadget (blog)
Cambodia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Cambodia First to Sign Digital Framework Agreement
Cambodia has become the first Asean member nation to sign up to a UN framework aimed at the establishment of paperless cross-border trade in Asia.
— AEC News Today
Daily directors barred from leaving country
The Tax Department yesterday issued a letter asking the Immigration Department to prevent Deborah Krisher-Steele and Douglas Steele – both representatives of the Cambodia Daily – from leaving the country, a day after department head Kong Vibol said he would continue to pursue the tax dispute that precipitated the paper’s closure.
— The Phnom Penh Post
U.S. and E.U. Condemn Cambodia Opposition Leader’s Arrest
The U.S. Department of State and the European Union joined calls on Monday for the release of jailed opposition leader Kem Sokha, who is facing charges of treason that could see him spend decades behind bars if he is found guilty.
— VOA Cambodia
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Indonesia Morning News
Compiled by Rama Ariadi @AriadiRama
Indonesia’s Digital Economy: Bridging The Digital Divide
Nearly 20 years since the country’s reformasi, it is worth asking whether the internet has led to greater inequality in Indonesia, and what can be done about it.
— AEC News Today
Stop talking politics, start investing: Jokowi to businesspeople
Jokowi said he would hold a road show to meet with businesspeople in a number of cities in September to encourage them to invest.
— The Jakarta Post
Indonesia foreign minister flies to Bangladesh after Myanmar visit on Rohingya
Indonesia’s foreign minister will fly to Bangladesh on Tuesday for talks following her visit to Myanmar where she urged national leader Aung San Suu Kyi to end ongoing violence against the Rohingya Muslim minority.
— Reuters
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Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Lao, Singaporean Firms Sign MoU on Master Planning New Industrial Park
Local company Phongsavanh Group and two Singaporean firms Surbana Jurong and Mekong Group signed an MoU in Vientiane to do master planning of a new industrial zone at Km 21 in Vientiane Capital.
— Lao News Agency
Laos-Thai Joint Venture Hydropower Plants open in Champasak Province of Laos
Xenamnoy and Xekatam Hydropower Plants, a joint venture between B.Grimm Power of Thailand and SV Group of Laos, have just been opened in Champasak Province.
— NBT World (video)
ASEAN members work together to build up single aviation market
Air transport officials of member states of the Association of Southeast Asian Nations (ASEAN) are gathering in Laos to discuss the ASEAN Single Aviation Market, which is seen as one of the key milestones in developing the ASEAN Economic Community.
— Xinhua
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Malaysia’s ports to be enhanced with China’s cooperation
Five new ports in Malaysia and China are now part of the China-Malaysia Port Alliance (CMPA), said Transport Minister, Datuk Seri Liow Tiong Lai (pix).
— The Sun Daily
US firm expands Hepatitis C generic licensing agreement to Malaysia
More Hepatitis C patients will soon be able to afford treatment, thanks to the decision by a US pharmaceutical company to expand its generic licensing agreement to Malaysia.
— The Star Online
5,000 hotels in Malaysia have started collecting tourism tax
Malaysian Association of Hotels (MAH) president Sam Cheah Swee Hee said hotel operators started the collection of tourism tax last Friday.
— South China Morning Post
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Myanmar Morning News
Compiled by Sreypov Men @MenSreypov
Examining the Companies Act
THE draft Companies Act, which is currently discussed by Amyotha Hluttaw, will introduce significant changes in the legal definition of foreign companies, the registration process and capital structures. Notably, foreign firms no longer need to obtain a permit to trade from the authorities and foreigners will be allowed to buy shares on the Yangon Stock Exchange for the first time.
— Myanmar Times
Nearly 90,000 Rohingyas escape Myanmar violence
Nearly 90,000 Rohingyas have fled to Bangladesh since violence erupted in Myanmar in August, pressuring scarce resources of aid agencies and communities already helping hundreds of thousands of refugees from previous spasms of violence in Myanmar.
— Business Standard
MyTel to launch 4G-only network covering 90% of Myanmar’s population
MyTel, the fourth licensed operator in Myanmar, is aiming to extend its 4G-only network to 90% of the country’s population when it launches in Q1 2018.
— Developing Telecoms
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Bangladesh central bank sends team to Manila to push for heist money recovery
Bangladesh’s central bank will send a team of officials to the Philippines on Tuesday to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in Manila.
— Reuters
VAT on indirect exports won’t alter revenue, says study
CHANGING the value-added tax (VAT) status of indirect exporters from the current zero rating to VAT-able as proposed under three pending bills will not have any effect on government revenues, according to research from the Philippine Institute for Development Studies (PIDS).
— Sun Star
BSP ready to ‘neutralize’ speculative peso trading
THE Bangko Sentral ng Pilipinas (BSP) will not tolerate speculators who seek to make wide margins from excessive swings in peso trading, its chief said, noting that the central bank will stop such attempts.
— BusinessWorld Online
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Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Presidential election 2017: Five people applied for certificate of eligibility
By the close of application for the Certificate of Eligibility and Community Certificate at 5pm on Monday (Sep 4), the Elections Department (ELD) received a total of five applications for the Certificate of Eligibility, it said in a news release.
— Channel NewsAsia
Singapore’s manufacturing sector clocks in 12th straight month of growth in August
Singapore’s manufacturing sector expanded for the 12th straight month in August, according to data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Sep 4).
— Channel NewsAsia
Smart facilities management crucial to Singapore’s digitisation drive
IN THE SME Go Digital briefing by the Infocomm Media Development Authority of Singapore (IMDA), much emphasis was placed smart facilities management amid the push for digitisation.
— Digital News Asia
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
16 Thai airlines suspend their operations after failing safety assessments
SIXTEEN airlines registered in Thailand have failed safety and related regulatory assessments conducted by the Civil Aviation Authority of Thailand (CAAT), requiring them to suspend operations until they get new Air Operator’s Certificates (AOCs), as authorities enforce stricter rules in accordance with requirements of the International Civil Aviation Organisation (ICAO).
— The Nation
Thai Q4 exports seen up no more than 5 pct y/y – shippers
Thailand’s annual exports are expected to grow no more than 5 percent in the fourth quarter as a strong baht has affected trade competitiveness, a group of shipping firms said on Monday, as the currency hovered at 28-month highs against the dollar.
— Reuters
Jobless rate ticks higher in Q2
The unemployment rate continued to rise in the second quarter as an influx of new graduates entered the labour market and private investment proved slower than expected.
— Bangkok Post
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Vietnam says violations found at central bank in war on graft
Vietnam has found faults with the central State Bank of Vietnam, including poor supervision of credit organizations and inefficiency in preventing corruption, the government said on Saturday.
— Business Insider
The three biggest risks in doing business in Vietnam
“Why have Vietnamese businesses died?” was a question raised by Nghia at a forum on financial security and business competition held several days ago.
— VietnamNet Bridge
Vietnam to see cutthroat competition in petroleum market
Vietnam’s oil refining industry is built based on two huge projects capitalized at multibillion dollars – Dung Quat Oil Refinery and Nghi Son Petrochemical & Oil Refinery Complex.
— 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.
Asean Morning News For September 5 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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