Asean Morning News For January 24

Asean Morning News For January 24
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Asean morning newsAsean Morning News

Compiled by Sreypov Men    @MenSreypov


Trans-Pacific trade pact to be signed in March
Eleven countries aiming to forge a Asia-Pacific trade pact after the United States pulled out of an earlier version will sign an agreement in Chile in March, Japan´s economy minister said on Tuesday, in a big win for Tokyo.
The News 

Mobile payments sideswipe credit cards in Southeast Asia
FT Confidential Research found more Asean consumers owned credit cards in 2017 than in the previous year.
— Nikkei Asian Review

Cyber-risk may shave off $750bn in Asean
Asean is at growing risk of cyber-attacks, which could expose the region’s top-listed firms to a US$750 billion (23.9 trillion baht) erosion in current market capitalisation, according to research conducted by global management consulting firm A.T. Kearney, commissioned by Cisco.
— Bangkok Post

ASEAN-focused China fund raising up to $3 billion for Silk Road projects: Sources
The China-ASEAN Investment Cooperation Fund (CAF), backed by the Export-Import Bank of China, is currently pitching the fund to prospective investors, they said. Its plan to raise $1 billion mainly from Chinese state-owned enterprises was already known, but the fund has now tripled the amount it is seeking.
— Money control

US courts Indonesia, Vietnam to counter China in Indo-Pacific
U.S. Defense Secretary James Mattis’ visit to Indonesia highlights the rising importance of security in the South China Sea to the Donald Trump administration, which is seeking to engage Indonesia and the ASEAN regional grouping to counter China’s expanding presence in the region.
— Nikkei Asian Review

Thailand Fails to Reduce Trafficked Fisherman From Myanmar And Cambodia: HRW
Thailand has failed to live up to its commitments to change illegal and abusive employment practices and working conditions in its fishing industry, especially concerning migrant workers from Myanmar and Cambodia, according to a report issued by an international human rights group on Tuesday.
— Radio Free Asia

Yitu Technology Eyes SE Asia AI Market
Yitu Technology, a Shanghai based artificial intelligence technology company, has opened a new office in Singapore as part of its effort to boost growth in Southeast Asia, Hong Kong, Macau and Oceania.
— JakartaGlobe

Taxes on life insurance in Asean
Let us take a look at the life-insurance tax regime in all the 10 Association of Southeast Asian Nations members: Brunei Darussalam, Cambodia, Vietnam, Thailand, Indonesia, Malaysia, Myanmar, Lao PDR, Singapore and the Philippines.
— Business Mirror

Trump can do more for Asean allies
When President Donald Trump decided to attend the East Asia Summit (EAS) last November, the Asean chair, Philippine President Rodrigo Duterte, was elated.
— Bangkok Post

Ninja Van secures Series C funding
Capital to be used to further consolidate its presence in Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam.
— Vietnam Economic Times

Need to propagate India-ASEAN special ties among youth: Sushma Swaraj
Highlighting the strong cultural bonds between India and ASEAN countries, External Affairs Minister Sushma Swaraj today said there is a need to propagate this “special relationship” amongst the youth of both the regions.
The Economic Times 

Cyber-risk may shave off $750bn in Asean
Asean is at growing risk of cyber-attacks, which could expose the region’s top-listed firms to a US$750 billion (23.9 trillion baht) erosion in current market capitalisation, according to research conducted by global management consulting firm A.T. Kearney, commissioned by Cisco.
Bangkok Post 

Shady triangle: Southeast Asia’s illegal fuel market
The Atlantic Council, a policy research group, said many of the region’s illegal fuel operations had links to organized crime
Dhaka Tribune 

Russia negotiates S-400 deals with Middle Eastern, Southeast Asian countries
Russia is in negotiation on the selling of self-designed S-400 air defense systems with a number of Middle Eastern and Southeast Asian countries, Russian Defense Minister said Tuesday.
Xinhua Net 

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov


Cambodia Revenues Approximately $2 Billion through Tariff Collection
In 2017, Cambodia received approximately $2 billion of tariff revenue, according Kun Nhim, Director General of General Department of Customs and Excise of Cambodia.
— Fresh News

Cambodia Urged To Focus On Good Corporate Governance
With the country’s economy expanding at break-neck velocity, the time has come for Cambodia’s private sectors and regulators to get serious about corporate governance to help sustain that impressive economic growth, government officials and economic experts agreed yesterday.
— B2B Cambodia

Hun Sen seeks to bolster trade at India-Asean meet
Prime Minister Hun Sen departs today for the India-Asean Summit hosted in New Delhi, aiming to boost cooperation and expand a historically minor trade relationship with the world’s seventh largest economy.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News


Indonesia morning newsIndonesia Morning News

Compiled by Sreypov Men    @MenSreypov


Widodo’s smoke and mirrors hide hard truths
Facilitated by a largely unquestioning media, Indonesian President Joko Widodo’s government has become a master at the game of smoke and mirrors, which in its simplistic form is all about convincing the public that things are happening when they really aren’t.
— Asia Times

Energy subsidy estimated at Rp 127.6 trillion this year
The Indonesian energy subsidy is estimated to reach Rp 127.7 trillion (US$10.22 billion) this year, or 0.2 percent from gross domestic product (GDP), due to increasing global oil prices.
— The Jakarta Post

Sri Mulyani: Bitcoin Prone to Money Laundering
Finance Minister Sri Mulyani Indrawati urged the public to avoid cryptocurrency transactions, including the infamous Bitcoin.
— Tempo

See here for more of today’s Indonesia Morning News


Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat


Ministry encouraging use of local online domain
The government is targeting the use of local domains for email and internet sites which will facilitate the management of online communication.
Vientiane Times 

FLEGT Process Supports PM Order No.15 Reinforcing Forest Governance for Legal Trade
The National Steering Committee held its 3rd meeting for the Lao-EU Forest Law Enforcement, Governance and Trade (FLEGT) process in Champasack Province on Jan 19 to report the progress of the process.
Lao News Agency 

11.1 million meth pills seized on board a boat from Laos in Nakhon Phanom
Security forces seized 11.1 million methamphetamine tablets and arrested a Lao national at a Mekong River pier in Tha Uthen district of Nakhon Phanom province Monday night (Jan 22).
— Thai PBS

See here for more of today’s Lao Morning News


Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov


Invest Malaysia 2018 – selling the story of economic resilience and strong fundamentals
Invest Malaysia 2018, which broke the norm and kick started the year rather than being the usual June affair, is expected to be a subdued two-day event with no major announcements for the local capital market, at a time when the general election is around the corner.
— The Sun Daily

Lotte Chemical signs a three-year sales contract with Abu Dhabi Oil Company
Lotte Chemical Titan Holding Bhd’s subsidiary Lotte Chemical Titan (M) Sdn Bhd had signed a three-year sales contract with Abu Dhabi Oil Company for the purchase of refined products and paraffinic naphtha.
— New Straits Times

SMEs take up 50% of guaranteed financing
Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), an agency tasked with according government guarantees for small and medium enterprises’ (SMEs) financing needs, has seen about half of the RM27.2 billion of financing it can dish out taken up.
— The Sun Daily

See here for more of today’s Malaysia Morning News


Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat


Jailing of Myanmar soldiers ‘only a start’
The jailing of six Myanmar soldiers for killing three Kachin refugees is a rare move but human rights lawyers say more reform of the country’s military and civilian justice system is needed.

UNHCR steps up call for unhindered access in Myanmar’s northern Rakhine State
Two months ago, the governments of Myanmar and Bangladesh agreed on an arrangement for the voluntary return to Myanmar of the hundreds of thousands of Rohingya refugees currently living in the Cox’s Bazar area in Bangladesh. The bilateral arrangement outlines important commitments by both governments to ensuring the voluntary and safe return of refugees to their places of origin in Myanmar.

2 armed ethnic groups agree to join Myanmar ceasefire pact
Two ethnic insurgent groups in Myanmar said Tuesday they will sign the Nationwide Ceasefire Agreement, which would make them the first to join the pact under the government of Aung San Suu Kyi’s National League for Democracy.
Nikkei Asian Review 

See here for more of today’s Myanmar Morning News


Philippines morning newsPhilippines Morning News

Compiled by Leakhena Khat    @leakhenakhat


Exclusive: Looted cash, gold help Islamic State recruit in Philippines
Islamist insurgents looted cash, gold and jewellery worth tens of millions of dollars when they occupied a southern Philippines town last year, treasure one of their leaders has used to recruit around 250 fighters for fresh attacks.

Philippine Volcano Erupts, Causing 56,000 To Flee
Mount Mayon, the Philippines’ most active volcano, erupted for eight minutes on Monday afternoon, spewing a 3-mile-tall column of debris and volcanic gas. It exploded at least five more times Monday night and Tuesday morning.

PHL growth seen breaching 6% even without elections
Elections are no longer a major factor in Philippine economic performance, economists said, allowing the country to stay away from “boom-bust” growth cycles seen in previous administrations.

See here for more of today’s Philippines Morning News


Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat


First Zika case of 2018 reported in Singapore
After nearly four months without a reported case of Zika virus infection, the first case of 2018 was confirmed last Thursday (Jan 18).
Channel NewsAsia 

Survey finds 45% of S’poreans unhappy at work in 2017
Issues with management, as well as a lack of career development and training opportunities, are creating serious unhappiness at work in Singapore.
Today Online 

As Singapore ages, low tax model creaks
Beneath its modern and glitzy exterior, Singapore is aging. For the first time in its short history, the Southeast Asian nation is expected to have as many people aged 65 and older as under 15 this year, a demographic crux that challenges the low-tax economic model that helped transform Singapore from port town to financial hub in a matter of decades.

See here for more of today’s Singapore Morning News


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


Export growth hits 6-year high at 9.89% in 2017
The Ministry of Commerce has reported that the Thai export sector did exceptionally well last year, with growth reaching 9.89 percent, the highest in six years.
— News Today (video)

Forced labor persists on Thai fishing boats, HRW says
Slave labor and rights abuses still plague Thailand’s fishing industry despite major reforms recently introduced by Prime Minister Prayuth Chan-ocha’s military government, Human Rights Watch has said in a new report.
— Asia Times

Minimum wage rise not tabled at cabinet meeting
Labour Minister Adul Sangsingkeo put off tabling the proposed new minimum wage agreement at the cabinet meeting on Tuesday, while seeking to allay concern over the delay with the explanation some matters still needed to be sorted out.
— Bangkok Post

See here for more of today’s Thailand Morning News


Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov


In Face of Xi’s Charm Offensive Vietnam Gambles on US Trade Deal
After the 2016 US Presidential election hope remained in Hanoi that Donald Trump, once in office, would turn from firebrand protectionist campaigner into a leader who accepted the value of open trade — a cause in which the Vietnamese government had invested so much in preparation for Vietnam’s membership of the Trans-Pacific Partnership (TPP).
— AEC News Today

VN’s shrimp industry will become key economic sector
Viet Nam’s shrimp industry will become a key economic sector with sustainable development that is environmentally friendly and can withstand the challenges of climate change, if the national action plan for the development of the shrimp industry by 2025 that was approved by the Prime Minister meets its targets.
— VietnamPlus

Cashew industry lowers export goal
Viet Nam’s cashew industry has targeted 300,000 tonnes of cashew exports at a value of US$3 billion this year, a year-on-year reduction of 50,000 tonnes in volume and $500 million in value, according to the Viet Nam Cashew Association (Vinacas).
— 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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