Asean Morning News For April 3

Asean Morning News For April 3
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Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


PMB targets up to US$50m initial investment for first int’l fund
PMB Investment Bhd, a wholly-owned subsidiary of Pelaburan MARA Bhd, has launched its first multi-currency fund, PMB Shariah ASEAN Stars Equity Fund (PMB SASEF), and is targeting an initial investment of US$30 million to US$50 million this year.
— The Edge Markets

Amid China-US rivalry, Asean finds a role model in Duterte’s Philippines
Speaking as the current chair of the Association of Southeast Asian Nations at an Asean-Australia summit, Singapore’s Prime Minister Lee Hsien Loong warned member countries that they will have to learn to deal with “tensions” and “pressure” from the rise of China.
— South China Morning Post

Tier-two cities urged for Asean airlines
The Transport Ministry will propose airlines in Asean countries operate direct flights to secondary cities in Thailand to cope with travel industry growth.
— Bangkok Post

500 Startups’ second $50m fund for Southeast Asia set for final close this month
Silicon Valley VC firm 500 Startups’ Southeast Asia arm is set to hit the final close of its $50 million second vehicle this month, industry executives aware of the development told this portal.
— Deal Street Asia

Car imports rise again as firms adjust to rules
The General Statistics Office of Vietnam (GSO) estimated that imports of completely built-up cars in April will likely jump in both volume and value compared to the previous month.
— The Jakarta Post

Philippine Peso Looks to CPI Data, Malaysian Ringgit to US Jobs Report
As expected , last week the Philippine Peso didn’t take the news so well that Hong Kong exports rose only 1.7% y/y versus 7.0% expected.
— Nasdaq

Sales of fake goods in Southeast Asia hits alarming level
Counterfeiting has reached an alarming level, causing huge revenue losses to governments across Southeast Asia, says Piotr Stryszowski, senior economist of public governance and territorial development directorate at the Organisation for Economic Co-operation and Development (OECD).
— South China Morning Post

‘Inaccurate’ information about sweeteners hindering diabetes and obesity progress in Southeast Asia
Misconceptions surrounding low- / non-calorie sweeteners (LNCS) may be slowing progress when it comes to minimising the incidence of diabetes and obesity in Southeast Asia.
— Food Navigator-Asia

Today’s top tech news, April 2: Grab/Uber deal raising competition concerns in Southeast Asia
Malaysia today said it will be monitoring the implementation of Grab’s purchase of Uber to make sure it doesn’t create an anti-competitive industry environment, according to Reuters.
— e27

SE Asia Stocks-Vietnam scales fresh high, Philippines choppy
Vietnam shares scaled a record high on Monday on the back of gains in financials and real estate
stocks, while most other Southeast Asian markets started April on a sombre note.
— Reuters

TAKE A LOOK-Asia inflation: March’s pace rises in Indonesia, Thailand
Indonesia’s annual inflation rate accelerated in March compared with a month before, but remained within the central bank’s target range, data from the statistics bureau showed on Monday.
— Reuters

Can ASEAN Economic Integration Succeed?
The ASEAN Economic Community holds promise – but it also presents challenges to the group’s policy of noninterference.
The Diplomat 

Does ASEAN Want the U.S. Navy in the South China Sea?
In recent months it has become clear that the lull in Washington’s confrontation with China in the South China Sea is over.
The National Interest

UNHCR concerned over safety of 56 Rohingya refugees in stormy seas
The U.N. High Commissioner for Refugees (UNHCR) said on Monday it was concerned about the safety of 56 Rohingya refugees from Myanmar on a boat bound for Malaysia in stormy seas.

Asean tourism meet gets under way to drive industry forward
Representatives from Asean member countries are taking part in Asean Tourism Committee Meetings in Luang Prabang province to review tourism activities and finalise plans for tourism development and promotion.
Vientiane Times 

Addressing the thorn in the region’s flesh
The South China Sea dispute has for the longest time been a thorn in the flesh of relations between claimant Southeast Asian states and China – and for good reason.
The Asean Post 

Cambodia, Laos, VN Vow To Further Deepen Comprehensive Cooperation
The Prime Ministers of Cambodia, Laos and Vietnam (CLV) have reaffirmed their commitment to further deepening comprehensive cooperation among the three countries and building integrated, sustainable and prosperous CLV economies, an indispensable part of the ASEAN Community Vision 2025.
Lao News Agency 

Mekong River conference hears of determination to work with LMC
THE CHINA-LED international organisation for transboundary water management in Mekong River Basin, the Lancang-Mekong Cooperation (LMC), has pledged to work with its counterpart, the Mekong River Commission (MRC), which regulates the lower portion of Southeast Asia’s longest river, to fulfil Sustainable Development Goals (SDGs) for the region.
— The Nation

Asia’s cryptocurrency arbitrage boom fizzles, but profits persist
When China closed its local cryptocurrency exchanges late last year, an underground ecosystem of bitcoin “mules” and peer-to-peer platforms sprung up to allow bitcoin trading to thrive, away from regulators’ watchful eyes.
— Reuters

Philippines, Malaysia put Uber-Grab deal under anti-competition scrutiny
The Philippines and Malaysia said on Monday they will look into whether Uber Technologies’ [UBER.UL] move to sell its Southeast Asian business to ride-hailing rival Grab hinders competition, days after Singapore began a probe into the deal on similar concerns.
— Reuters

Asean and Australia: From friends to partners
There are many more areas of shared interests between Asean and Australia, even if cultural differences sometimes lead to misunderstandings.
— The Straits Times


Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov


Government to offer free bus services to provinces for Khmer New Year
The government plans to provide limited free bus services on a first-come, first-served basis along National Roads 1 and 5 during the week of Khmer New Year, though how such a plan will be implemented remains unclear.
— The Phnom Penh Post

Cambodian farmers sue Thai sugar group Mitr Phol over alleged land grab
Farmers from Cambodia have filed a lawsuit in a Thai civil court against Asia’s largest sugar producer, accusing it of rights abuses after it allegedly kicked farmers off their land, a rights group said on Monday.
— Reuters

Chinese firm breaks ground on Kratie cassava factory
Hong Kong-based Green Leader Holding Group broke ground on a $20 million cassava processing factory in Kratie province’s Snuol district yesterday, part of the company’s plan to spend $150 million on 10 processing factories in the next 3 years.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News


Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Supporting Tourism Sector in NTT, Village Ministry Prepares IDR2.4 Bln for Homestay, Facilities
The Ministry of Village, Development of Underdeveloped Regions, and Transmigration (Kemendes PDTT) together with the Government of Manggarai Regency, East Nusa Tenggara plans to develop Mules Island as a leading tourist destination.
— Netral News

Tourist arrivals up 9.12 percent in February
The Central Statistics Agency (BPS) has announced that foreign tourist arrivals in February reached 1.2 million, or 9.12 percent higher than 1.10 million arrivals in January.
— The Jakarta Post

PLN to get additional LNG supply of 2.85m tons from Tangguh plant
State-owned electricity firm PLN is set to get an additional liquefied natural gas (LNG) supply of 2.85 million tons per year once the Train 3 of the Tangguh LNG plant in West Papua begins commercial production in the second quarter of 2020.
— The Jakarta Post

See here for more of today’s Indonesia Morning News


Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat


China, Laos sign MoU on intellectual property cooperation
The State Intellectual Property Office of China (SIPO) and Lao Ministry of Science and Technology signed a Memorandum of Understanding (MoU) on intellectual property cooperation here on Monday.
Xinhua Net 

Germany provides over 71 billion kip for village forestry management
The German government has agreed to provide over 71 billion kip (EUR 7 million) to bolster efforts to ensure sustainable management of natural resources through a new Village Forestry Management Project.
Vientiane Times 

Over 5,200 U-5 Children in Pakading To Be Vaccinated
More than 5,200 under 5 children in Pakading district, Borikhamxay Province will be vaccinated under the National Immunization Programme, supported by the United Nations Children Fund (UNICEF) and the World Health Organisation (WHO).
Lao News Agency

See here for more of today’s Lao Morning News


Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov


Malaysia approves ‘fake news’ law despite outcry
Malaysia’s government Monday pushed a law through parliament that makes “fake news” punishable by a maximum six-year jail term despite an outcry from critics worried it will be used to stifle dissent before elections.
— Business Times

Bursa Malaysia announced CIS regulatory framework enhancements
Bursa Malaysia Securities Bhd today announced enhancements to the regulatory framework for listed collective investment scheme (CIS) and business trust under the Main Market Listing Requirements (Main LR).
— New Straits Times

What next for Sarawak, Petros & Petronas?
SPG congratulates the Sarawak Government and YAB Chief Minister Datuk Patinggi Abang Johari for taking this bold and brave step to exert Sarawak’s ownership and its rights over its own petroleum resources.
— The Borneo Post

See here for more of today’s Malaysia Morning News


Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat


Myanmar agrees to UN Security Council visit
Myanmar has agreed to a visit by the UN Security Council after months of resistance, but it remains unclear whether ambassadors will be allowed to go to Rakhine state, the body’s president said on Monday (Apr 2).
Channel NewsAsia 

UNHCR concerned over safety of 56 Rohingya refugees in stormy seas
The U.N. High Commissioner for Refugees (UNHCR) said on Monday it was concerned about the safety of 56 Rohingya refugees from Myanmar on a boat bound for Malaysia in stormy seas.

Revealed: Facebook hate speech exploded in Myanmar during Rohingya crisis
Hate speech exploded on Facebook at the start of the Rohingya crisis in Myanmar last year, analysis has revealed, with experts blaming the social network for creating “chaos” in the country.
The Guardian 

See here for more of today’s Myanmar Morning News


Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Holy Week attacks stall P1.3-B road projects in Davao City
Operations of a P1.3-billion bypass road project here were hampered after alleged New People’s Army (NPA) fighters burned 10 heavy equipment vehicles during the Holy Week, authorities said Monday, April 2.
— Rappler

PH Digest: AboitizPower in roof top solar venture; BPI prices $960m rights offer
Philippine power producer AboitizPower Corporation is venturing into the roof top solar sector with the launch of a new company while listed-bank Bank of the Philippine Islands has set the price and date of its $960-million stock rights offer.
— Deal Street Asia

Philippine government maintains total ban of Filipino workers to Kuwait – Bello mulls partial lifting
The Philippine government’s total ban on the deployment of Filipino workers to Kuwait would stay despite a Kuwaiti court’s handing of death sentence against the couple accused of killing Overseas Filipino Worker (OFW) Joanna Demafelis, newsinfo. said quoting the Philippine Senior Deputy Executive Secretary Menardo Guevarra.

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat


Singapore ministerial panel wants next government to make decision on Lee family home
A ministerial committee set up to examine the future of a house that is at the center of a family feud between Singapore Prime Minister Lee Hsien Loong and his two siblings said on Monday it had decided a future government of the island state should make the final call.

900,000 households set to receive GST voucher for utilities bill
Households in one- and two-room Housing Board flats will receive $95, while those in three-room flats will get $85, the Ministry of Finance said yesterday in a statement.
The New Paper 

Singapore’s manufacturing sector expands for 19th straight month in March
Singapore’s manufacturing sector expanded for the 19th consecutive month in March, according to data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Apr 2).
Channel NewsAsia 

See here for more of today’s Singapore Morning News


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


At least 94 people are implicated in cheating of fund for the destitute
As many as 94 people, including officials and civilians, were found to be involved in the cheating of fund for the Protection Center for the Destitute, said Lt-Col Kornthip Darote, secretary-general of the Public Sector Anti-Corruption Commission, on Monday.
— Thai PBS

Fishing sector ‘shipshape’ ahead of EU scrutiny
In a bid to get the European Union’s yellow card lifted from the lucrative fishery sector, Thai authorities have completed the registration of migrant workers ahead of a visit by an EU inspection team.
— Bangkok Post

SCB issues debt warning
Siam Commercial Bank (SCB)’s research house, the Economic Intelligence Center (EIC), has raised a warning flag about a potential re-acceleration in household debt after the household debt-to-GDP ratio at the end of 2017 edged up for the first time in two years
— Bangkok Post

See here for more of today’s Thailand Morning News


Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov


Slow Roll-out Planned For Vietnam High-Speed Train
Vietnam is once again talking about a high-speed train linking Hanoi in the north with Ho Chi Min City (HCMC) in the south. However, by the time the North-South express railway is complete very few of today’s lawmakers are likely to be alive to wave off the first train.
— AEC News Today

FDI firms remains concerned about administrative procedures
There has been significant improvement in removing cumbersome procedures in the past year, however, foreign businesses are still concerned about legal provisions regulating operations of investors after having registered and receiving licenses.
— The Hanoi Times

PM approves $921m infrastructure investment for economic, industrial zones
Prime Minister Nguyen Xuan Phuc has given the green light for infrastructure development worth up to VND21 trillion (US$921 million) for economic zones and industrial parks in the 2016-2020 period.
— Bizhub

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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