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ASEAN NEWS UPDATES                Updated: 13 April 2011

•Daewoo builds power plant in Sumatra
South Korean firm Daewoo Engineering & Construction plans to build a Rp 2.5 trillion (US$290 million) power plant in North Sumatra that will supply 60 megawatts of electricity to state utility provider Perusahaan Listrik Negara.

•Indonesia should hike rates soon
BursaAlthough Bank Indonesia kept its benchmark rate steady this week, observers are convinced it cannot maintain that stance for long because of rising consumer prices.

•Indo infrastructure costs revealed
The Indonesian government is earmarking Rp 500 trillion (US$58 billion) through 2014 to develop the country’s infrastructure but still needs Rp 1,166.7 trillion in additional funding from the private sector, a senior official said on Tuesday.

• Malaysia meets investment goals
Malaysia is on track to achieve or exceed its investment target this year based on the value of potential and planned projects that have been earmarked by the private sector.

•FDI starts 2011 strong  in Philippines
Foreign direct investments (FDI) to the Philippines surged in January this year on the back of improved risk appetite for emerging Asian assets.

• Philippine exports growth drops
Foreign sales of Philippine-made goods in February grew at their slowest pace in over a year mostly because of weak demand for electronic products, the government reported Tuesday.
 

•Consistency, trade agreements spur Thai autos
As a threat is looming that Indonesia will replace Thailand as the largest vehicle market in Southeast Asia, automakers recommend that the Thai government keep consistent policies and promote exports through free-trade agreements to maintain its competitiveness against regional competitors.

• KKR's first investment in Vietnam
Global private equity firm Kohlberg Kravis Roberts & Co LP has agreed to buy 10 percent of Vietnam's Masan Consumer Corp for $159 million, valuing the company at $1.6 billion, the companies said in a joint statement on Wednesday.

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