Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Southeast Asian carriers squeezed by rising fuel costs
Rising fuel prices sunk Garuda Indonesia and Thai Airways International into the red last year and continue to weigh on airlines’ earnings as competition between budget and legacy carriers intensifies.
— Nikkei Asian Review
Digitising markets a ‘plus-plus for Asean’
Unlike a traditional economy, the digital economy favours start-ups and smaller players, which in turn lead the way in driving innovation, Singapore Deputy Prime Minister Tharman Shanmugaratnam said yesterday.
— The Straits Times
Exclusive: Dymon Asia PE likely to close second SE Asia fund at $420-430m
Dymon Asia Private Equity, the private equity arm of Dymon Asia Capital, is likely to close its second PE fund at $420-430 million, two industry executives aware of the development told this portal.
Groupe PSA picks M’sia as Asean hub
Groupe PSA, which lost its bid for an equity stake in Proton Holdings Bhd, signed a share sale agreement and joint-venture agreement with Naza Corp Holdings yesterday — a strategic move for the French automaker to make Malaysia its Asean hub.
— The Edge Markets
ASEAN could face a crisis over its appetite for coal
ASEAN’s member states are ramping up coal energy infrastructure to meet the region’s energy needs, with help from Asia’s largest economies. New technologies, such as carbon capture and storage, could go a long way towards mitigating health and environmental concerns. But are countries prepared to foot the bill – and confront the environmental costs?
— Global Risk Insights
Asean agreement on investment funds
The Securities and Exchange Commission of Thailand (SEC), the Securities Commission Malaysia, and the Monetary Authority of Singapore have signed a Memorandum of Understanding to enhance the Asean Collective Investment Schemes (CIS) Framework, according to a press release from the Thailand SEC on Tuesday.
— The Nation
Asean should be wary of inviting Turkey into the fold
Relations between Turkey and Asean are an important focus of discussion in Thai political circles – including in this newspaper. But the debate boils down to this question: Can today’s Turkey really help bring prosperity, opportunity and jobs to Southeast Asia and other international partners?
— The Nation
Ministers to mull e-trade agreement
Asean economic ministers are scheduled to discuss an agreement on e-commerce to facilitate digital business and consumer protection for cross-border online purchases among member states.
— Bangkok Post
Rep. Castro: Engagement with ASEAN can be an alternative to TPP
Rep. Joaquin Castro (D-TX), the co-chair of the Congressional Caucus on the Association of Southeast Asian Nations, on Monday said U.S. engagement with the bloc could be an alternative to the Trans-Pacific Partnership.
— World trade Online
Situation in South China Sea complicated, COC a positive step: Vietnam
The situation in the South China Sea is ?still complicated? but a positive is that China and ASEAN countries have committed to start talks on the Code of Conduct (CoC) to handle the over-lapping territorial claims, Vietnamese
envoy Ton Sinh Thanh said today.
— India Today
Japan’s New ASEAN Defense Initiative in the Spotlight with First Disaster Relief Engagement
This week, Japan’s defense ministry announced that it would be holding an activity focused on humanitarian assistance and disaster relief inviting all Southeast Asian states and the ASEAN Secretariat.
— The Diplomat
Exclusive: Three-step plan unveiled to achieve harmonised nutritional labelling in ASEAN
A three-step approach has been put forward to help ASEAN move towards a more harmonised regime for nutritional labelling, with a new report revealing that varying standards are contributing towards “the lacklustre export performance of the packaged foods sector”
— Food Navigator Asia
Global surveys indicate uphill battle for Laos
At least three global surveys disclosed their findings recently, with all three
indicating that Laos is going backwards in term of in global development rankings
— The Nation
Channel NewsAsia’s new documentary series captures the diversity of communities in ASEAN
A new travelogue series exploring stories off the beaten track in Southeast Asia had its preview on Tuesday (Feb 27) at the Mediacorp campus.
— Channel NewsAsia
Asean Countries Must Prepare for Digital Revolution: IMF
Christina Lagarde, the managing director of the International Monetary Fund, on Tuesday (27/02) reminded countries within the Association of Southeast Asian Nations, or Asean, that they must prepare their labor force for the coming digital revolution.
— The Jakarta Post
Big Tobacco’s smoke and mirrors in ASEAN
If the countries of Southeast Asia are to reduce their burden of smoking-related death and disease, they will need stronger leadership capable of standing up to Big Tobacco, Gayle Amul and Tikki Pang write.
— Policy Forum concerns. But are countries prepared to foot the bill – and confront the environmental costs?
— Global Risk Insight
ASEAN and the IMF: Working Together to Foster Inclusive Growth
I would like to thank President Widodo, Governor Agus, and Minister Indrawati for their warm welcome and hospitality.
— International Monetary Fund
Why is Asean afraid of China?
Four claimants to parts of the disputed South China Sea are members of the Association of Southeast Asian Nations (Asean): the Philippines, Malaysia, Vietnam and Brunei Darussalam.
— Inquirerd.Net
Digitalisation in SE Asia on Huawei radar
DESPITE a number of challenges, including the lack of ICT infrastructure, digital awareness, and investment, Southeast Asia has drawn the interest of Huawei Technologies Co, according to the ICT giant’s head in the region.
— The Nation
South East Asia Collagen Market 2018-2023 – $142.84 Million Opportunity Analysis and Industry Forecasts
South East Asia collagen market is expected to reach USD 142.84 million by 2023, at a CAGR of 7.2% during the forecast period of 2018 to 2023.
— Chicago Evening Post
Asia Pacific Maritime 2018 to gather best of international maritime industry
From 14 to 16 March 2018, Asia Pacific Maritime (APM) will gather key industry players and thought leaders within the global maritime industry for three days of knowledge exchange, networking and business-building.
— American Journal of Transportation
Cambodia Morning News
Compiled by Sreypov Men @MenSreypov
Cambodia condemns burning of Hun Sen effigies in Australia
The Cambodian government condemned on Tuesday the burning of Prime Minister Hun Sen’s effigy in Australia, after he warned that he would beat up any protestors in Australia who dare to burn his photos during his upcoming visit.
— Bangkok Post
Ministry changes SME data
Readers of the Ministry of Industry and Handicraft’s summarised annual report may have been shocked to find the number of small- and medium-size enterprises (SMEs) operating in Cambodia was nearly four times larger than it was reported to be last year.
— The Phnom Penh Post
Cambodia’s latter day ‘repression’ has Khmer Rouge roots
The Cambodian government has succeeded in shutting down the political opposition, critical thinking in the media and has sharpened its focus on non-government organizations, which have tried its patience over human rights issues.
— UCA News
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Yogyakarta Region Upholds Decision to Bar Chinese Indonesians from Owning Land
A decision by the Special Region of Yogyakarta, a major cultural center of Indonesia, to uphold its statute to bar ethnic Chinese Indonesians from owning land has reignited claims the practice is discriminatory and unconstitutional.
— Voice of America
Rupiah will Remain Volatile Against Dollar Until Late March
The Indonesian rupiah’s exchange rate against the US dollar will continue to be volatile until March 20-21 when The Federal Reserve announces its reference rate policy, Bank Indonesia (BI) Governor Agus Martowardojo has predicted. He said afterwards, the condition will be stable.
— Tempo.com
Special Crime Unit Arrest Four Muslim Cyber Army Members on Hate speech
The Directorate of Cyber Special Crime Unit has arrested four members of the Cyber Army Muslim group for allegedly spreading hate speech and provocative issues in social media.
— Netral News
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Cambodia, Laos losing the last of their trees
Despite official pledges to halt the trade, smugglers in Cambodia and Laos are finding ways to illegally ship timber to neighboring Vietnam. The precious hardwood is often used in furniture factories that ship their products largely to China.
— Asia Times
Laos makes progress in reducing emissions from deforestation
Laos will move from the readiness phase of Reducing Emission from Deforestation and Forest Degradation (REDD+) to demonstration in the coming years now that the first half of the project has been completed.
— Vientiane Times
Labor Ministry to update of status of Lao migrant workers
The Ministry of Labor has received a request from the Ministry of Health, Labor and Welfare of Laos to send an update information on the status of Lao migrants working in Thailand.
— NNT
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Sreypov Men @MenSreypov
Chance to be 7-Eleven Malaysia franchisees
7-Eleven Malaysia Holdings Bhd (SEM), the owner and operator of 7-Eleven stores in Malaysia, is now offering back its franchise programme for local entrepreneurs.
— The Star Online
No ban on dealings with cryptocurrency exchangers but be extra careful in due diligence, BNM tells banks
Bank Negara Malaysia (BNM) is not prohibiting banks from dealing with digital currency exchangers or businesses, but expect them to be extra careful in their due diligence exercise in view of heightened money laundering and terrorist financing risks.
— The Sun Daily
Bank Negara says RM3.3b funds still available for SMEs
A total of RM3.3 billion in funding is still available under the Bank Negara Malaysia’s (BNM) Funds for small and medium enterprises (SMEs) for working capital and the purchase of machinery.
— The Star Online
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Leakhena Khat @leakhenakhat
EU Agrees to Prepare Sanctions on Myanmar Generals
European Union foreign ministers agreed on Monday to prepare sanctions against Myanmar generals over the killings of Rohingya Muslims and to strengthen the EU arms embargo, accusing state security forces of grave human rights abuses.
— The Irrawaddy
Facebook says page of firebrand anti-Rohingya Myanmar monk removed
Facebook has removed the page of a Myanmar monk once dubbed the “Buddhist Bin Laden” for his incendiary posts about Muslims, the company confirmed, as it faces pressure to clamp down on hate speech.
— Channel NewsAsia
Challenging the dominance of cash in Myanmar
Cash is still dominant in Myanmar. Despite the governmental reforms in 2017, cash is still the preferred payment method. That could be about to change. Myanmar is ready to buck the trend. It could move straight from cash to mobile payments without adopting card payments.
— Asean Today
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
SSPC opens $51-M facility in Clark for production of latest multimedia cards
SFA SEMICON Philippines Corp. (SSPC) opened its $51-million manufacturing facility in Clark Freeport Zone, Pampanga yesterday, where it plans to start producing the latest version of embedded multimedia cards (eMMC) found in tablets, smartphones, and GPS tracking systems.
— BusinessWorld Online
Full-year budget deficit misses target at P350.6B
The national government missed its budget deficit target last year as lower-than-targeted expenditures offset a surge in revenues, data showed on Tuesday.
— The Manila Times
PSEi gains 1.09%, closes near 8,600
The local stock barometer rallied back to nearly 8,600 yesterday as local bargain-hunters were emboldened by the upbeat trading in Wall Street ahead of the first public statement from the new US Federal Reserve chief Jerome Powell.
— Philippine Daily Inquirer
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Singapore Wants Communications Blackout At Terror Attack Sites
Singapore Tuesday proposed expanding police powers so they can block all communications from the scene of a terror attack to avoid jeopardising security operations, amid fears militants may target the city-state.
— NDTV
Singapore PM Says Will Reshuffle Cabinet to Support His Successor
Singapore Prime Minister Lee Hsien Loong said on Tuesday he will reshuffle his cabinet once parliament enters a mid-term break in coming months to give more responsibility to the next generation of leaders who will support his eventual successor.
— US News
Budget 2018 debate: MPs question if alternatives explored ahead of proposed GST hike
The Government’s rationale behind hiking the Goods and Services Tax (GST) to 9 per cent in a few years’ time found support among most Members of Parliament (MPs) who spoke on the first day of Budget debates in Parliament.
— Channel NewsAsia
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Thai PM now says election to be held no later than Feb 2019
Thai Prime Minister Prayuth Chan-ocha said on Tuesday that a general election he had promised to hold in November would take place “no later” than February 2019, the latest delay to anger critics of the government.
— Channel NewsAsia
Thailand establishes Digital Silk Road center as part of Belt and Road Initiative
The National Research Council of Thailand (NRCT) has opened an international center as part of China’s Digital Belt and Road (DBAR) program. The center promotes cooperation at the international level and manages risks associated with climate change.
— NNT
FPO estimates Thai economic growth in 2018 at 4 2%
The Fiscal Policy Office (FPO) has projected that the Thai economy this year will expand 4.2 percent, mainly driven by exports and domestic consumption.
— News Today (video)
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Government ratifies aviation transport development plan till 2020
Deputy Prime Minister Trinh Dinh Dung recently signed a decision to approve the revision of the national aviation transport development plan till 2020 with a vision to 2030 in an aim to help Vietnam among the top four leading nations in air traffic in ASEAN.
— The Hanoi Times
Vietnam projects $21bn export revenue from cultivated products
The cultivation sector aims to earn export revenues of more than $21 billion this year, a year-on-year increase of 2.2-2.3 per cent, the Vietnam News Agency reported the Ministry of Agriculture and Rural Development as saying.
— Fresh Plaza
PetroVietnam requests financial assistance to help loss-making projects
State-owned oil and gas group PetroVietnam (PVN) is intending to channel its money into assisting 12 failed projects in the industry and trade sector, whose debts total about VND20 trillion (US$879.8 million).
— Tuoi Tre
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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