Asean Morning News For March 26

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Uber sells Southeast Asia business to Singapore-based Grab
Ride-hailing firm Uber Technologies Inc has agreed to sell its Southeast Asian business to bigger regional rival Grab, sources with knowledge of the matter said on Sunday, in what would be the U.S. company’s second retreat from Asia.
— South China Morning Post

Thailand to host 8th ACMECS in June
Thailand is slated to host the 8th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Meeting this June, according to the Ministry of Foreign Affairs.
— NNT

Thai investors buoyed by CLMV investment climate
Following the strong economic growth in Asean, especially in CLMV countries (Cambodia, Laos, Vietnam, and Myanmar), Thai investors have expanded their regional investment by focusing on alternative energy, food and agriculture processing, tourism, and service business.
— The Nation

Laos steps up cooperation with GMS countries for rail connectivity
Laos continues to look forward to cooperating with neighbouring countries for sustainable railway connectivity in the Greater Mekong Subregion (GMS) while pursuing its dream to transform the country from landlocked to land-linked.
— Vientiane Times

Thailand expects some progress on pact finalisation before July
Thailand is expecting “some progress” towards finalisation of the long-delayed Regional Comprehensive Economic Partnership (RCEP) before July as a ministerial-level meeting is likely soon to address many of the pending issues.
— The Indian Express

Is joint exploration the answer to the South China Sea dispute?
In a Utopian world, an obvious solution to the South China Sea dispute would be for the nations involved to align their interests together and jointly pursue maritime exploration of the area.
— The Asean Post

Looking for ‘Asean way’ in Rohingya crisis
In Asean’s search for a role in the maze that is the political and humanitarian disaster unfolding from Myanmar’s Rakhine crisis, it is finding that some paths are closed off, a few remain passable despite barriers — and others are clear but way too risky to head into.
— Bangkok Post

Suharto’s ASEAN versus the ASEAN Community
An Australia fully embracing Southeast Asia will be seeking to join the ASEAN Community, not Suharto’s ASEAN.
— ASPI Strategist

Asean nations push for healthier lifestyles
Asean member countries will continue to work closely together within the health sector to promote more healthy lifestyles, participants of a regional meeting taking place in Vientiane agreed last week.
— Vientiane Times

Fortifying ASEAN against a potential global trade war
United States (US) president, Donald Trump’s imposition of at least US$60 million worth of tariffs on China’s products has already prompted signs of Chinese retaliation, something that could result in a trade war between the two nations. Trump’s earlier proposals to impose a 25 percent tariff on steel and a 10 percent tariff on aluminium imports has already sparked a global uproar. Spill-over effects from a likely trade war could impact Southeast Asia too.
— The Asean Post

Indonesia pins hope on ASEAN-EU FTA to support SMEs, palm oil
Speaking at the 16th ASEAN Economic Ministers (AEM)-EU Trade Commissioner Consultations in Singapore on Friday, Trade Minister Enggartiasto Lukita outlined the desired impact a free trade agreement (FTA) between ASEAN and the European Union would have on small and medium enterprises (SMEs) and the palm oil industry.
— The Jakarta Post

Achieving universal electricity access in Cambodia
One of the main goals of the ASEAN Plan of Action for Energy Cooperation 2016-2025 is to ensure that the citizens of ASEAN have accessibility to electricity.
— The Asean Post

Tech parks to help digitalise Southeast Asia’s economy
The concept of a technology park first emerged in the 1950s in the United States, when such parks were first built to accommodate high technology industry occurring at the time.
— The Asean Post

Thai Tourism Plays Beckon as Asean Seen as Trade-War Safe Harbor
As a U.S.-China trade war threatens to wreak collateral damage on the globally-connected North Asian economies, Southeast Asia’s domestically-focused stocks are starting to look more appealing.
— The Edge Markets

ASEAN wants to develop Indo-Pacific strategy
ASEAN wants a clear Indo-Pacific strategy in order to claim its stakes in a changing global economy that is increasingly dependent on China’s growth, experts concluded in a recent discussion.
— The Jakarta Post

AirAsia pushes for bigger digital play as it seeks to monetise customer data
Tony Fernandes, the co-founder of AirAsia Bhd, is seeking to transform Asia’s biggest budget airline into an asset-light, digitally focused firm after the $1 billion sale of its leasing business, in an effort to foster sustainable growth.
— Deal Street Asia

Asean seen as trade-war safe harbour, Thai tourism plays beckon
As a US-China trade war threatens to wreak collateral damage on the globally-connected North Asian economies, South-east Asia’s domestically-focused stocks are starting to look more appealing.
— Malay Mail Online

PE funds increasingly eyeing SE Asia’s small, mid-market space: Dentons
Amid a surge of deals backed by private equity money and a barrage of capital flowing to Southeast Asia from China, small- to mid-market deals with valuations below $200 million, which may have been under the radar earlier, are now attracting interest among local and regional private equity funds, law firm Dentons Rodyk has said.
— Deal Street Asia

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

OHCHR recommends Cambodia decriminalise defamation
The UN’s Office of the High Commissioner for Human Rights in Cambodia has recommended that the government decriminalise defamation in the wake of a woman being handed a two-year prison sentence for throwing her shoe at a CPP billboard.
— Khmer Times

HLH to sell hotel in Cambodia mixed-use project for S$15.7m
HLH Group Limited said it has entered into a sales and purchase agreement to sell its 98-room hotel in its D’Seaview project in Sihanoukville, Cambodia for S$15.7 million.
— Khmer Times

Taxes target used car imports
The government is considering increasing taxes on used car imports, and encouraging auto companies to set up assembly plants in Cambodia.
— Khmer Times

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Indonesia: 500 Startups-backed GetCRAFT in talks to raise $5m Series A by year-end
Indonesian content network platform GetCRAFT is in talks with potential investors to raise more than $5 million in a Series A funding round, which it expects to close in the last quarter of this year.
— Deal Street Asia

Indonesia pins hope on ASEAN-EU FTA to support SMEs, palm oil
Speaking at the 16th ASEAN Economic Ministers (AEM)-EU Trade Commissioner Consultations in
Singapore on Friday, Trade Minister Enggartiasto Lukita outlined the desired impact a free trade
agreement (FTA) between ASEAN and the European Union would have on small and medium enterprises
(SMEs) and the palm oil industry.
— The Jakarta Post

In Indonesia, a Shadowy Campaign to Stoke Unrest as Elections Loom
A spate of mysterious attacks on Islamic clerics, schools and mosques in Indonesia in recent weeks has ramped up tensions as the world’s most populous Muslim-majority country heads into provincial elections and a presidential poll next year.
— Jakarta Globe

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Lao Government agrees to religious freedom education
The US-based Institute for Global Engagement (IGE) will roll out a series of seminars focusing on “religious freedom as a human right, Lao government policy on religious activity and encouraging dialogue between religious and government leaders in outlying provinces”, the IGE announced recently.
— Sight Magazine

Japan provides 4.3 billion kip for health centres, water supply
The Japanese government has provided a grant of 4.3 billion kip (US$522,590) for the construction of health centres and water supply systems through its Grant Assistance for Grassroots Human Security Projects (GGP).
— Vientiane Times

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

RM1.5 billion in special ASB fund for PDRM members
The government, through Permodalan Nasional Berhad (PNB), is allocating a special Amanah Saham Bumiputera (ASB) fund of RM1.5 billion under the ASB i-KOP Investment Scheme for members of the Royal Malaysia Police (PDRM).
— The Borneo Post

Less Crimes Last Year, Say Police
The number of crimes dropped 11.7% in 2017 from the previous year, says Inspector-General of Police Mohamed Fuzi Harun.
— Malaysian Digest

Foreign insurers in Malaysia resisting divestment: Sources
Two major foreign insurance companies – AIA, the insurance giant listed in Hong Kong, and American International Group (AIG) – are baulking at complying with a Malaysian central bank directive on ownership following intervention by the US government, said industry executives and Malaysian government officials.
— The Straits Times

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

Reports: Myanmar rejects EU-tabled draft resolution on human rights
U Htin Lynn reportedly warned that the Myanmar government will not accept any attempt ‘infringing on the state sovereignty of Myanmar’
— Dhaka Tribune

Suu Kyi ally Win Myint looks set for Myanmar presidency
A close ally of Myanmar’s de-facto leader Aung San Suu Kyi took a step closer to becoming the country’s new president after the lower house overwhelmingly voted for Win Myint as its candidate on Friday.
— Coconuts Yangon

Crossborder trucking traffic to increase with Myanmar
Thailand and Myanmar are expected by the end of this month to sign a memorandum of understanding for the Initial Implementation of a Cross-border Transport Agreement (IICBTA) to facilitate crucial improvements in logistics within the Greater Mekong Subregion (GMS).
— The Nation

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Department of Agriculture eyes over P200 billion budget for 2019
The Department of Agriculture (DA) is looking at an unprecedented budget of over P200 billion next year as it expects positive results from its planned bond flotation and the possible return of four agencies now under the Office of the Cabinet Secretary.
— Philippine Star

Gordon: DPWH execs behind P8.7-B scam
Some officials of the Department of Public Works and Highways (DPWH) may have had a hand in the P8.7-billion road right-of-way scam uncovered here and in nearby areas of South Cotabato, Sen. Richard Gordon said on Friday.
— Philippine Daily Inquirer

Yields on gov’t debt drop on Fed hike, BSP review
YIELDS on government securities (GS) traded in the secondary market declined last week amid an interest rate hike in the US and the Bangko Sentral ng Pilipinas’ (BSP) decision to keep its policy settings unchanged.
— BusinessWorld Online

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore economy indirectly affected by US-China trade war
Due to the supply chain links that run through China and ASEAN countries, any trade action that impacts China negatively would also have ramifications for Singapore, say experts.
— Channel NewsAsia (video)

Singapore pharma on recovery path after worst output in decades
Singapore’s pharmaceuticals business, among the pillars of the city-state’s manufacturing sector, is set to return to strength this year as big global drugmakers ramp up output and advance automation at their production sites across the country.
— WHTC

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Labour Ministry to open online channel to facilitate registration of migrant workers tomorrow
The Ministry of Labour will be opening an online channel for employers to pre-fill information to help facilitate the legalization of migrant workers from tomorrow ahead of the March 31st deadline.
— NNT

Government urged to blitz corruption
The government has been urged to bolster its fight against corruption amid the many scandals that have erupted involving state officials.
— Bangkok Post

Kra Canal – the 28 Billion Baht shortcut
Despite a history going back three centuries, the highly controversial and politically sensitive proposed Kra Canal mega-project in southern Thailand is once again up for debate
— The Thaiger

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

South China Sea: Vietnam ‘scraps new oil project’
Vietnam has cancelled a major oil project in the South China Sea for the second time in a year, in the wake of Chinese pressure, the BBC has learned.
— BBC

Improve connectivity among waterways in Mekong Delta: Deputy PM
Deputy Prime Minister Trịnh Đình Dũng has asked the Transport Ministry to review transport planning in the Mekong Delta and seek better links among modes of transport in the region.
— Viet Nam News

Hanoi named among top destinations globally for 2018
Hanoi the capital of Vietnam was ranked 12rd in TripAdvisors’ top 25 travellers choice of destinations list for this year offering the Old Quarter, monuments and colonial architecture, while making room for modern developments alongside.
— 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.