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ASEAN NEWS UPDATES      Updated: 14 March 2010

• Let Obama be a PR man for Indonesia, said local university rector
Indonesian university rector suggested US President Barack Obama’s planned visit to his country this month should be used to promote the Southeast Asian nation, state news agency Antara reported.

• Singapore: Opening of Resorts World keep hotels in Sentosa busy
Hotels in Sentosa are riding on the latest wave to hit the island - the opening of Resorts World Sentosa (RWS), reported Channel News Asia.

• Malaysian firms to benefit from Rolls Royce plant in Singapore
Malaysian companies should gain from the presence of the Rolls Royce engine factory in Singapore by supplying components to the factory which is due to start operations in two years, reported Malaysia’s national news agency Bernama.

• Thai finance minister woos Japanese investors as red-shirts issue ultimatum
Leaders of tens of thousands of protesters who swarmed into Bangkok from Thailand's rural areas Sunday threatened mass street demonstrations if the government didn't respond to their demand for a dissolution of Parliament within 24 hours, reported local and wire news agencies.

• Italian firm takes 20% stake in Vietnam’s steel mill
Italy’s Danieli Group, one of the world’s three largest metals industry suppliers, last week inked an agreement to take part in Vietnam’s first hot strip steel mill, reported VNBusinessNews.com.

Yesterday News     Updated: 13 March 2010

• Vietnamese traders warned of rise in anti-dumping suits
Vietnamese exporters may be faced with more anti-dumping suits this year as the global economy recovers, VNBusinessNews.com reported quoting Peter Koenig, a US law attorney.

• Asean to finalise draft on Single Window project
Asean is pushing for the integration of its members in the Asean Single Window (ASW) project, which will allow signatory countries to exchange import and export data online, the Jakarta Post reported.

• Thai govt wary of violence as red-shirt protesters enter Bangkok
Thousands of red-shirted anti-government demonstrators converged on the Thai capital from the north and northeast Saturday, vowing to oust the government in a mass do-or-die display of muscle, the Associated Press and local news reports.

• Malaysia: Services, energy seen as new avenues to draw foreign investment
Malaysia needs to look at attracting new avenues of foreign direct investment (FDI), especially in the services, oil and gas, and energy and environment-related sectors as they offer strong growth potential, the StarBiz reported.

• Philippines vote seen as lacking transparency
Western election observers on Saturday criticised the Philippine government for "insufficient" openness as the country prepares to choose its next president with a new automated voting system, reported AFP.

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News 112 March 2010

• Malaysia considers joining regional trade pact with US
Malaysia said Thursday negotiations towards a bilateral trade pact with the United States have been shelved and it is now considering joining a regional deal promoted by the US, reported AFP.

• Philippines to speed up renewable energy projects
The Energy Regulatory Commission (ERC) has released the draft rules for the feed-in-tariff for renewable energy (RE) projects, the Manila Times reported.

• Vietnam slashes tariffs on car imports
Vietnam plans to reduce import tariffs on some types of cars from 83 percent to 80 percent and 77 percent from April 23rd, 2010, reported VNBusinessNews.com.

• Election law jeopardises US’ new engagement with Myanmar
Washington's new policy of engagement with Myanmar's military government appears to be failing, the Associated Press reported, quoting a senior US official who noted the junta's decision to bar democracy leader Aung San Suu Kyi from upcoming elections.

• Thai capital remains tense as red shirts begin to mobilise
The Thai capital braced for possible violence as anti-government activists launched Friday what they hope will be one of the country's biggest protests in an effort to force Prime Minister Abhisit Vejjajiva to call new elections, reported the Associated Press.

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News 11 March 2010

 

• Temasek to keep stake in Shin Corp
Thai telecoms group Shin Corp said its major shareholder, Singapore’s Temasek Holdings, had no plan to sell its stakes in the Thai firm or in satellite unit Thaicom, reported Reuters.

• Myanmar junta officially invalidates 1990 election results
Myanmar’s ruling junta has used new election laws to officially annul the result of polls in 1990 that were won by Aung San Suu Kyi's opposition party, Bangkok Post reported, quoting state media.

• Australia’s travel alert upsets Indonesian president
Indonesia's leader Thursday took a swipe at Australia's tough travel warnings as he urged business leaders to forge closer trade links between the two countries, reported AFP.

• Philippine reports fastest rise of exports in 15 years
The Philippines said Wednesday that exports rose at their fastest pace in nearly 15 years in January as the Southeast Asian nation reaped the benefits of an improving world economy, reported AFP.

• Thailand’s flag-carrier to spend $1bn on leasing new aircraft
Thai Airways has announced plans to spend more than one billion dollars leasing 15 new aircraft over the next four years as the airline seeks to brighten prospects following two years of financial woes, reported AFP.

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News 10 March 2010

• Myanmar: Junta’s election law ensures NLD leader is out of race
A new election law unveiled by Myanmar's ruling military Wednesday bars pro-democracy leader Aung San Suu Kyi from running in upcoming elections and could force her own political party to expel her, reported the Associated Press.

• Survey: Graft problem worsens in Indonesia
Indonesia remains the most corrupt country in Southeast Asia and graft is getting even worse, a poll of businessmen says, dealing a blow to the president's efforts to clean up the country, AFP reported.

• Car sales in Vietnam declined 25% in February
Vietnamese auto sales in February dropped 25 percent from a year before to 5,030 units, an industry report said on Wednesday, reflecting a week-long holiday during the month to mark the Lunar New Year, reported Reuters.

• Thailand extends $19 million loan to Laos for road construction
The Thai Cabinet on Tuesday gave a green light to lend 655 million ($19.8 million) to neighbouring Laos PDR for two road improvement projects, according to Finance Ministry.

• Philippine low-cost airline to raise funds through IPO
Philippine budget carrier Cebu Pacific Monday announced plans to raise about P12 billion through the sale of new shares to the public, reported the Philippine Daily Inquirer.

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News 9 March 2010

• Vietnamese leader wants FTA with US
Vietnamese Prime Minister Nguyen Tan Dung has called on the US government to enter into a free trade agreement with Vietnam and lift trade barriers on Vietnamese products, reported VNBusinessNews.com.

• Japanese lender to offer $1,215m loan Indonesia’s Paiton project expansion
The Japan Bank for International Cooperation (JBIC) and PT Paiton Energy (PE) Monday signed a project financing loan agreement worth the equivalent of $1,215 million to fund the Paiton thermal power plant expansion project, state news agency Antara reported.

• Malaysian timber exports to rise on strong US, EU demand
Growing demand from traditional markets like the United States and Europe is boosting exports of the local timber industry, which is expected to chart an improved performance this year, the StarBiz reported.

• Philippines: Real estate loans grew in Q4 of last year
Banks lent more money to the real estate sector in the last quarter of last year, with most of the loans used to build and develop commercial properties, the central bank said on Tuesday, reported GMA News on its website.

• Thai cabinet approves plan to impose security law
Thailand's Cabinet on Tuesday resolved to enforce the Internal Security Act (ISA) in the capital and seven surrounding provinces beginning Thursday to maintain law and order during the upcoming mass protest of the United Front for Democracy against Dictatorship (UDD), state news agency TNA reported.

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News 8 March 2010

• Myanmar junta announces election laws, poll date yet to be set
Myanmar has announced the enactment of long-awaited laws to set the stage for an election its ruling junta has said will take place later this year, the Associated Press reported.

• Thailand mulls imposing security law ahead of planned red-shirt rally
A meeting of the government-appointed security monitoring committee chaired by Deputy Prime Minister Suthep Thaugsuban on Monday concluded to recommend to the Thai cabinet to implement the Internal Security Act (ISA) for Bangkok between March 11 through to March 23, the ThaiVisa.com reported on its website.

• Malaysia expects more than 100,000 spectators at F1 race
Malaysian Grand Prix organisers hope to attract more than 100,000 spectators to next month's Formula One race with renewed interest following the return of seven-time world champion Michael Schumacher, the Associated Press reported.

• Vietnam: Ogilvy & Mather wins Sony’s account
Sony has handed Ogilvy & Mather the creative account for its full portfolio of electronic products in Vietnam following a pitch that reportedly involved Dentsu Alpha, Lowe and incumbent Leo Burnett, reported VNBusinessNews.com.

• Indonesia cuts tax target in revised 2010 state budget
Taxation revenues are estimated to drop 9.5 trillion rupiah ($1.03 billion) to 733.24 trillion rupiah this year, according to the proposed revised 2010 state budget, reported the Jakarta Post.

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