Asean Morning News For February 6

Asean Morning News

Compiled by Sreypov Men @MenSreypov

Midsize ASEAN companies grow along with middle class
Midsize companies in Southeast Asia are thriving, helped by the region’s growing middle class and public works spending.
— Nikkei Asian Review

Vietnamese investors prosper in Laos, Cambodia, Myanmar
Vietnam’s outward foreign direct investment (OFDI) is expected to continue to increase rapidly in Laos, Cambodia and Myanmar.
— VietnamNet Bridge

Asean needs to fix its digital divide
Singapore has picked an opportune time to promote the growth of the region’s digital economy in its capacity as Asean chair.
— The Straits Times

Southeast Asian airlines look to non-stop US flights despite profit challenges
Vietnam Airlines JSC will struggle to be profitable on non-stop flights between Vietnam and the United States due to a lack of demand from business travelers, but it may launch them anyway as early as next year, the carrier’s CEO said on Monday.
— The Star Online

Asian markets catch the cold
Most Asian markets succumbed to strong selling pressure yesterday, except for China, as US markets sneezed.
— The Edge Markets

Viet Nam, Cambodia’s bilateral trade surged 30% in 2017
Bilateral trade between Viet Nam and Cambodia last year surged 29.7 per cent against the previous year to nearly US$3.8 billion, the General Department of Customs reported.
— Bizhub

Why Asean is good for the US
Asean is important to the US for three reasons: geo-strategic, economic and political.
— The Straits Times

Singapore proposes ‘Asean Smart Cities Network’
The city-state is proposing an “Asean Smart Cities Network” aimed at improving the urban living environment and enhancing business opportunities for Southeast Asia’s 630 million people, according to a document prepared for ministerial meetings being held in the city-state this week.
— Bangkok Post

Laos, Cambodia eye popular front cooperation
The Lao Front for National Construction (LFNC) met with visiting National Council for Solidarity Front for the Development of Cambodia Motherland (SFDCM) here on Monday to discuss future cooperation.
— Xinhua

The biggest solar power plant in Southeast Asia to shine in Cambodia
OMNI NAVITAS Holdings, a solar energy development company based in Boston, Massachusetts, through its Cambodian subsidiary Omnicam, will be building the biggest solar power plant in Southeast Asia in Koh Kong province.
— The Phnom Penh Post

Can Japan fill the vacuum left by the USA in the Asean region?
When Donald Trump on January 2017, announced that he was withdrawing from the global mega-deal known as the Trans-Pacific Partnership (TPP), it gave room for others to fill where the US had left.
— The Independent Singapore

Asean e-commerce: hidden tigers meet tech dragons
WITH 158 million middle class consumers, Asean is often seen as the next frontier for the e-commerce market. Despite experiencing rapid expansion over the past five years, e-commerce penetration is still less than 2 per cent of total retail sales in Asean.
— The Nation

Why Timor-Leste Is Still a Model for ASEAN
ASEAN aspirant Timor-Leste is being democratically tested today, with new elections slated after the minority government formed just last year failed to get its budget and policy platform passed by parliament.
— The Diplomat

$50M Mackay project could go to South East Asia
A $50-MILLION biorefinery, touted as a future economic driver for Mackay, could be taken offshore, leaving the Queensland Government red faced after almost a year championing the project.
— Daily Mercury

What’s Behind Southeast Asia’s Developmental Miracle?
In June 2010, Laos began receiving its first revenues from the sale of electricity to Thailand from its Nam Theun 2 Hydropower Project. Financed by a consortium of global and regional banks and multilateral and bilateral developmental agencies, the project was projected to generate an estimated $2 billion revenue over 25 years that would enable the government to fund programs to reduce poverty.
— The Diplomat

China’s military facilities in South China Sea ‘almost ready’
China is nearly done building air and naval facilities on seven islands it claims in the South China Sea, recent surveillance photos obtained by a Philippine newspaper and published yesterday showed.
— The Straits Times (paywall)

Malaysia tops in Southeast Asia for online child pornography
Malaysia has the highest number of IP addresses which upload and download photographs and visuals of child pornography in Southeast Asia, the authorities have said.
— The Jakarta Post

Which is the best Southeast Asian country for its expat lifestyle
The 21st century has seen the most mobility since the late 19th/early 20th century rush to emigrate to America, but where’s the best place nowadays for adventurous would-be expatriates?
— Emigrate

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Cambodia Blocks Online Access to Shuttered Cambodia Daily
Cambodia’s government has ordered internet service providers to block online access to The Cambodia Daily newspaper, which closed last year amid a widespread crackdown on media and civil society groups criticizing Prime Minister Hun Sen’s ruling Cambodian People’s Party.
— Radio Free Asia

CBC says growth of credit charging ahead
Credit Bureau Cambodia (CBC) yesterday released its report for the fourth quarter of 2017, which showed significant growth in applications for credit, particularly in the credit card and mortgage sectors.
— The Phnom Penh Post

Cambodia’s digital signature one year out
A SYSTEM to authenticate electronic documents for individuals and businesses that was approved by Cambodian Prime Minister Hun Sen in a sub-decree late last year will take at least another year before it is fully implemented.
— The Nation

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Sreypov Men @MenSreypov

Indonesia to File Cases Against US Anti-Subsidy Duty on Biodiesel
Indonesia plans to file a case against the United States Department of Commerce at the US Court of International Trade over anti-subsidy duties slapped on Indonesian biodiesel shipments, a Trade Ministry official said on Friday (02/02).
— JakartaGlobe

XL Axiata to invest $500m in pay TV, broadband, fixed line businesses
After exiting the e-commerce business last year, telco company XL Axiata has announced that it will invest $500 million to venture into pay TV, broadband and fixed line business.
— DealStreetAsia

Australia Awards Scholarships for Indonesians Close April 30
Indonesian students wanting to undertake postgraduate studies (Masters or PhD/Doctorate level) in Australia have until April 30 to submit their application for Australia Awards Scholarships (AAS), part of the Australian development cooperation program in Indonesia.
— AEC News Today

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Apurva Saini @amyapurva

Remove unnecessary barriers to improve business climate, DPM says
Lao Deputy Prime Minister Dr Sonexay Siphandone has urged the Ministry of Industry and Commerce to accelerate improvement of the business climate by cutting the number of days it takes to register a business.
— Asia News Network

Economic, trade ties between China, Laos developing healthily: report
A report on China-Laos cooperation opportunities under the Belt and Road Initiative was released here Friday at a forum aimed at fostering closer cooperation between the two neighbors under the Belt and Road cooperation.
— China Daily

Lao education ministry working towards Asean qualification standards
The Ministry of Education and Sports is continuing to review its education quality development under the Asean Qualifications Reference Framework (AQRF).
— Asia News Network

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

M’sia-EU tiff to hit machinery, transport equipment deals?
Malaysia’s threat to review imports over the European Union (EU) Parliament’s palm oil bio fuels halt, could see bans on selected products and revision of contracts including commercial aircraft and military equipment.
— The Malaysian Reserve

Banks shift priorities toward digitalisation, innovation: E&Y
Some 85 per cent of banks globally cite implementation of a digital transformation programme as a business priority this year, with greater investment in technology to drive efficiency and growth, according to the EY Global Banking Outlook 2018.
— New Straits Times

Kinsteel gets five-month extension to submit regularisation plan
Financially-distressed Kinsteel Bhd said Bursa Securities has granted it an extension of time until June 30 this year to submit its regularisation plan to the relevant authorities for approval, provided that Kinsteel makes the requisite announcement by March 31.
— The Edge Markets

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Apurva Saini @amyapurva

Genocide bad for business in Myanmar
Myanmar is learning the hard way that accusations of ethnic cleansing and genocide are especially bad for business.
— Asia Times

Myanmar: 4 infographics on population, wealth, economy
Recently opened to foreign business, Myanmar is emerging from decades of isolation to develop its economy and provide a better life to its relatively large population.

Yangon to take part in upgrading of industrial zones
The Yangon Regional Government will upgrade the industrial zones located within Yangon Region to encourage further investments and development, U Phyo Min Thein, the region’s Chief Minister said during a meeting at the office of the Union of Myanmar Federation of Chambers of Commerce and Industry late last week.
— Myanmar Times

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Leakhena Khat @leakhenakhat

Philippines on China military build-up: No war option
The Philippines has declared that war is not an option in resolving its dispute with China, which was found to have continued its military build-up in disputed South China Sea areas, declared by a UN arbitration court to belong to Manila.
— Al Jazeera

Philippine senator seeks legislative probe of Duterte’s bank transactions
A Philippine senator and staunch critic of President Rodrigo Duterte on Monday filed a resolution seeking a legislative inquiry into whether Duterte and his eldest daughter had concealed assets amounting to almost US$2 million.
— Channel NewsAsia

Sanofi rejects refund, indemnity
Sanofi Pasteur, the French pharmaceutical firm behind Dengvaxia, rejected yesterday an appeal from the Philippine government to refund about P1.8 billion in payment for used doses of its controversial anti-dengue vaccine and put up an indemnity fund for those administered with the vaccine, who later developed serious or fatal cases of dengue.
— Manila Bulletin

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore will not let up on ensuring social mobility, says PM Lee
As society matures, it will get harder to narrow and bridge class divisions, said Prime Minister Lee Hsien Loong, and that is why Singapore “must not and will not let up on maintaining social mobility”.
— Channel NewsAsia

Why Singapore gives top priority to fighting income inequality
We must keep Singaporeans together. Maintaining social harmony is very much at the top of the Government’s priorities.
— The Straits Times (paywall)

How Airbus’ Flying Taxis Could Be The Next Great Idea For Singapore’s Congested Roads
Traffic congestion is one of the most prevalent and frustrating characteristics associated with major cities.
— Forbes

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Many in Thai fishing industry fail to see conditions as slavery: research
Thai fishing boat owners who trap workers on board ships and withhold wages often do not realize that is modern slavery, so authorities must ramp up their policing efforts, advocates say.
— Reuters

Thailand expects 300,000 tourists from China during Lunar New Year
Thailand’s tourism body expects 300,000 visitors from China during the Lunar New Year holidays, a nearly 18 percent rise from a year ago.
— Reuters

Ministry of Commerce expects higher prices for rice, fruit this year
Various farm goods have shown a tendency towards stronger pricing this year, including Jasmine Rice, which is projected to be priced at over 17,000 baht a ton.
— NNT

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam sets up $220 bln committee to boost privatisation
Vietnam said on Monday it has set up a committee to oversee around 5,000 trillion dong ($220 billion) worth of government assets in companies as part of an effort to boost privatisation.
— Reuters

Vietnam sees solar power construction boom as nation goes green
Numerous projects to build large solar power facilities are underway in Vietnam, as the country scrambles to make up for the anticipated power shortage due to the recent cancellation of nuclear power plant construction projects.
— Nikkei Asian Review

Vietnam to sell shares of major rice exporter Vinafood 2 in March
Vietnam will sell state stake in the Southern Food Corporation (Vinafood 2) through an initial public offering (IPO) on March 14.
— The Hanoi Times

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.