Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
SE Asia logistics firm Ninja Van raising $60 mln for expansion-sources
Southeast Asian last-mile logistics provider Ninja Van is raising at least $60 million in its latest fundraising round, two sources said, as the Singapore-based company charts an aggressive expansion in key regional markets.
— Reuters
ASEAN MSMEs need more financial, technical support: study
While the Association of Southeast Asian Nations (ASEAN) has available programs and pushing for policies that will boost micro, small, and medium enterprises (MSMEs), the region needs to introduce more financial and technical support to MSMEs, an ASEAN study said.
— Philippine News Agency
Asean Linkage folds after falling short
Asean Linkage will be terminated this month as the trading system structured by regional bourses has not served investor needs.
— Bangkok Post
EDITORIAL: The mighty red dot
How is it that Singapore, once mocked as a mere “red dot” state by then president BJ Habibie, became the largest foreign investor, and sent the largest number of tourists to a much more “gigantic” Indonesia in 2016? The moral of the story is: Size alone does not always matter.
— The Jakarta Post
Japan to offer manufacturing, trade know-how to ASEAN
Japan plans to work with Southeast Asian countries to boost productivity and modernize trade systems, hoping to encourage them to pursue more ambitious goals for the Regional Comprehensive Economic Partnership, or RCEP.
— Nikkei Asian Review (subscription)
Asean no longer able to handle Rohingya issue, says KL
Asean is no longer able to handle the issue of Rohingya persecution in Myanmar, said Malaysian Foreign Minister Anifah Aman.
— The Straits Times
Asean must balance between US and North Korea: academics
Although Asean is in an “awkward” situation between the US and North Korea in dealing with the latter’s weapon development, it is still wise for Thailand to utilise Asean mechanisms to express its stance regarding the proliferation of weapons of mass destruction, a panel heard yesterday.
— The Nation
Grading South-East Asia’s reformers
If any Asian nation proves rapid gross domestic product (GDP) isn’t all you need, it’s Rodrigo Duterte’s Philippines. A 6% growth rate somehow leads investors to overlook the president’s erratic behaviour, the 7,000-plus body bags his war on drugs has filled and his disinterest in reforms needed to raise living standards.
— Livemint
China vows to strengthen cooperation with ASEAN in health sector
China has promised to strengthen pragmatic cooperation in the health sector with the Association of Southeast Asian Nations (ASEAN).
— Xinhua
ASEAN Marketing Summit Announces Top 10 Indonesian Brands
The 3rd ASEAN Marketing Summit (AMS) 2017 has announced top 10 Indonesian brands. The event was held Wednesday, September 6.
— Tempo.co
Cambodia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Cook & Grow: Cambodians Find Biodigesters a Gas
An innovative household biodigester has proved itself to a point where a consortium of international investors has put down $1 million for further expansion in Cambodia and for exploring new markets in other countries.
— AEC News Today
Blocks fall as oil interest dries up
Cambodia’s plan to become an oil-producing nation rests almost entirely on its development of offshore Block A, as depressed global oil prices have discouraged companies from investing in exploration activities and all but two of the Kingdom’s concession licences have been revoked or allowed to expire.
— The Phnom Penh Post
Thailand and Cambodia prepare to open 4 more border crossings
Thailand and Cambodia has agreed at the 3rd Joint Cabinet Retreat in Phnom Penh today (Sept 7) to go ahead with the opening of four more border crossings as Prime Minister Prayut Chan-o-cha promised to take a good care of all legal Cambodian migrant workers.
— Thai PBS
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Rama Ariadi @AriadiRama
China drags Indonesia into South China Sea morass
Beijing’s rebuke of Jakarta’s decision to rename its natural gas-rich Natuna Island region has agitated what had been a quiescent territorial dispute.
— Asia Times
RISING 50 new history for Indonesia, Singapore air forces
At the commemorative event the two countries air forces also formed “arrow ahead” and “bomb burst” which was done by six F15s of the Republic of Singapore Air Force.
— Antara
Indonesia bond allure intact as foreigners shift from stocks
Foreign investors, used to double-digit returns from Indonesian stocks, are suddenly deserting equities in favour of bonds following a sovereign rating upgrade and the central bank’s signal that it’s open to more interest rate cuts to spur growth.
— Gulf News
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Laos signs on for hydro sustainability study while building boom continues
Efforts to improve the environmental and social sustainability of southeast Asia’s hydropower sector took a step forward this week with the signing of an agreement by the Lao People’s Democratic Republic and International Finance Corporation.
— Hydro World
Economic issues dominate agenda at two-day govt meeting
A number of pressing issues surrounding Laos’ struggle to fulfil socio-economic development and State budget plans were tabled at a meeting that began in Vientiane yesterday.
— Vientiane Times
Telephone number registry checks planned as decree drafted
A planned review of all mobile telephone numbers registered for use via the nation’s mobile SIM cards is to be led by the Ministry of Post and Communications aiming to ensure records are up to date.
— Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Malaysia generates RM12.7 billion with companies based in Kazakhstan, China and Switzerland in the three-month participation in Astana Expo
2017
Malaysia has generated a total of RM12.7 billion in business leads with companies based in the Republic of Kazakhstan, China and Switzerland in the three-months of its participation in Astana Expo 2017.
— New Straits Times
Malaysia’s trade to hit RM1.5 trillion
Malaysia’s 2017 trade volume is set to surpass the RM1.5 trillion-mark, supported by its strong growth performance this year and steady global demand for electrical and electronics (E&E) products.
— The Star Online
Malaysia has strong Fintech development in Asean — CIMB
Malaysia’s financial technology (fintech) development is strong compared to other Asean countries, said CIMB Group Holdings Bhd’s chief fintech officer, Olivier Crespin.
— The Borneo Post
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Sreypov Men @MenSreypov
Myanmar steers auto market toward new cars
Myanmar is signaling a turn toward new cars as incentives and regulations promote a shift in an automobile market known for low annual sales numbers and roads overwhelmingly populated by used imports from Japan.
— Nikkei Asian Review
Myanmar’s Rohingya Muslims: Stateless, persecuted and fleeing
Rohingya Muslims are once more fleeing in droves into Bangladesh+ , trying to escape the latest surge in violence in Rakhine state between a shadowy militant group and Myanmar’s military.
— The Times Of India
Suspended state-owned factories to be reviewed
Twenty-eight state-owned factories that suspended their operations due to losses will be inspected, Aung Min, vice chairman of the Parliament’s Joint Public Accounts Committee, told the Daily Eleven.
— Eleven Myanmar
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Ayala Corp. to raise $400 million in fixed-for-life perpetual bond
CONGLOMERATE Ayala Corp. is set to float $400 million in fixed-for-life perpetual bond.
— Business Mirror
August foreign reserves at 3-month-high $81.5 billion
GROSS INTERNATIONAL RESERVES (GIR) edged up in August to a three-month high on the back of higher gold valuations and steady inflows from the central bank’s investments abroad, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— BusinessWorld Online
Peso back at P50:$1level; dollar, business deals cited
The peso jumped back into P50 per dollar territory on Thursday, a development attributed to a weaker greenback and renewed investor interest in the Philippines.
— The Manila Times
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Indonesia and Singapore Signed Cooperation Agreement for Vocational Education
In keeping with its determination to train workers with proper skills and certification, the Indonesian government on Thursday (7/9) signed with the Singapore government an agreement to provide vocational education and training for Indonesian workers.
— Global Indonesian Voices
U.S. Navy to transport damaged destroyer from Singapore to Japan
The U.S. Navy plans to transport the USS John S. McCain to Japan for a full damage assessment after a collision last month in which 10 sailors died between Malaysia and Singapore.
— Japan Today
Singapore: Logistics firm Ninja Van raising $60m for expansion
Southeast Asian last-mile logistics provider Ninja Van is raising at least $60 million in its latest fundraising round, two sources said, as the Singapore-based company charts an aggressive expansion in key regional markets.
— DealStreetAsia
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Meechai says election date cannot be set yet until the election law is enacted
The general election date will be set once the organic law regarding the election bill has become effective, Constitution Drafting Committee chairman Meechai Ruchupan said on Thursday (Sept 7).
— Thai PBS
DPM says agencies unable to reform will be penalized
The Deputy Prime Minister for Legal Affairs reports the government is expediting its reform work in 11 areas, tasking relevant agencies with presenting plans in line with reform efforts and warning of penalties for non-compliance.
— NNT
Thailand, Cambodia to open more checkpoints, bolster trade
Thailand and Cambodia agreed on Thursday to open four more border checkpoints and vowed to achieve their bilateral trade target.
— Bangkok Post
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Corporate tax law changes worry businesses
Following the supposed changes to value-added consumption tax, the MoF tackled national CIT with a tendentious change to the current level of debt over equity ratio, which is commonly considered a financial leverage for firms to shield themselves against unfavourable income taxes.
— VietnamNet Bridge
Vietnam slow to sell off state-owned companies
The Vietnamese government’s plans to fully divest itself of 12 state-owned enterprises have progressed at a snail’s pace since being announced last September, raising speculation that in reality Hanoi wants to keep its ownership level high enough to still wield veto power.
— Nikkei Asian Review
Ministry moots ethanol import tax cut
The Ministry of Finance has proposed to lower import tax on bio-fuel ethanol from 20 to 17 per cent so as to make E5 petrol cheaper.
— 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.
Asean Morning News For September 8 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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