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Asean Affairs 30 January 2011
By David Swartzentruber
AseanAffairs 30 January 2011
These were the most important stories published by Asean Affairs during the week of January 22-January 28.
Chinese firm to fund Indo road project
China Metallurgical Group Corporations has expressed interest in financing a road construction project worth Rp 1.5 trillion (US$165 million) in Mamuju, West Sulawesi, the regional Chamber of Commerce and Industry (Kadin) says.
READ MORE: http://www.aseanaffairs.com/indonesia_news/infrastructure/chinese_firm_to_fund_indo_road_project
Hot money sets Philippine record
Foreign portfolio investments (FPI) into the Philippines surpassed the 2007 record, hitting a new high last year, according to the central bank.
READ MORE: http://www.aseanaffairs.com/philippines_news/investment/hot_money_sets_philippine_record
Thai rubber supply tight
The growing automobile sector - especially in countries such as China and India - has accelerated demand for tires.
READ MORE: http://www.aseanaffairs.com/thailand_news/agriculture/thai_rubber_supply_tight
Singapore has high FDI investments
Singapore achieved record high investment commitments last year and this momentum is expected to continue into this new year.
Indonesia signs deals with India
Indonesian President Susilo Bambang Yudhoyono said Monday he hoped to help secure lucrative investment deals worth $15 billion on a trip to India this week. READ MORE: http://www.aseanaffairs.com/indonesia_news/investment/indonesia_signs_deals_with_india
Tin price at all-time high
The price of tin on the Kuala Lumpur Tin Market (KLTM) soared to close at an all-time high of US$27,500 per tonne yesterday on concerns over tight supplies amid continued strong demand, especially from Europe, Japan, China and India.
READ MORE: http://www.aseanaffairs.com/malaysia_news/commodities/tin_price_at_all_time_high
PTTCH has joint venture with US partner
PTT Chemical Plc (PTTCH), Thailand's largest petrochemical producer, made a strategic equity investment of US$60 million in Massachusetts-based biotechnology firm Myriant Technologies and vowed to continue their partnership with other potential bioplastic ventures.
READ MORE: http://www.aseanaffairs.com/thailand_news/investment/pttch_has_joint_venture_with_us_partner
CEOs in Asia Pacific confident of growth
Two years after the financial meltdown, 54 percent of Chief Executive Officers (CEOs) in the Asia Pacific are very confident of growth in the next 12 months, says PricewaterhouseCoopers (PwC)in its 14th Annual Global CEO survey.
READ MORE: http://www.aseanaffairs.com/malaysia_news/economy/ceos_in_asia_pacific_confident_of_growth
Thai industry still in dark about AEC
Most Thai businesses remain indifferent to the growing challenges of labour mobility within Asean once regional economic integration is completed in 2015, says the Federation of Thai Industries (FTI). READ MORE: http://www.aseanaffairs.com/thailand_news/labor/thai_industry_still_in_dark_about_aec
IMF raises growth forecast for Asean 5
The International Monetary Fund (IMF) on Tuesday raised slightly its average growth forecast for the Asean 5, which includes the Philippines. In its World Economic Outlook (WEO) Update, the IMF forecast emerging and developing economies to grow by 6.5 percent this year and in 2012.
READ MORE: http://www.aseanaffairs.com/asean_news/economy/imf_raises_growth_forecast_for_asean_5
UN shark conservation plan fails
A UN plan to preserve the world's sharks has been a resounding failure, according to a report on Thursday that blames Indonesia, India, Spain and Taiwan and 16 other major catchers of the fish. READ MORE: http://www.aseanaffairs.com/indonesia_news/environment/un_shark_conservation_plan_fails
US solar firm to build Vietnam plant
A US solar panel maker Wednesday said it will build a $300 million factory in Vietnam, boosting the country's efforts to reinvent itself as a hub for high-tech manufacturing.
READ MORE: http://www.aseanaffairs.com/vietnam_news/investment/us_solar_firm_to_build_vietnam_plant
Siam Cement looking at US investment
Siam Cement Group (SCG) is in talks to acquire a US petrochemical firm.
READ MORE: http://www.aseanaffairs.com/thailand_news/companies/siam_cement_looking_at_us_investment
Indo's rice import buy rattles market
Indonesia's bumper purchase of 820,000 tons of Thai rice, more than four times the volume initially sought, lifted the market on Wednesday, but traders were unconvinced prices would stay high with Vietnam's rising supply and lower imports projected from the Philippines.
READ MORE: http://www.aseanaffairs.com/indonesia_news/agriculture/indo_s_rice_import_buy_rattles_market
Malaysian steel price hike
Local cold rollers have raised the prices of cold rolled coils (CRC) in view of the general increase in the cost of raw materials and the recent floods in Australia.
READ MORE: http://www.aseanaffairs.com/malaysia_news/commodities/malaysian_steel_price_hike
US Fed move to boost capital inflows
The recent move by the US Federal Reserve (Fed) to maintain its US$600bil bond-buying plan may prompt further inflows of capital into high-growth regions.
READ MORE: http://www.aseanaffairs.com/malaysia_news/economy/us_fed_move_to_boost_capital_inflows
US enters South China Sea arena
Kurt Campbell, US assistant secretary of state for East Asian and Pacific Affairs, revealed Washington's plan to help the Philippines increase its maritime capacity to protect the country's claim over the contested Spratly Islands in the South China Sea.
READ MORE: http://www.aseanaffairs.com/philippines_news/politics/us_enters_south_china_sea_arena
Jakarta gridlock worsens
Commuters in Greater Jakarta are abandoning public transportation in droves in favor of private vehicles, an official said on Thursday, while the city's administration said it would take steps to ease traffic on congested Jalan Casablanca.
READ MORE: http://www.aseanaffairs.com/indonesia_news/transport/jakarta_gridlock_worsens