Business News

Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia

Monthly Business News to Help You Understand the Market

Thailand Oil Company Transforming Gas Stations into Retail Hubs

Jan 2022 Thailand, Retail/FMCG

PTT Oil and Retail Business (PTTOR), the retail arm of Thailand's state-owned energy giant PTT, has announced that it expects to double its net profit by 2025 as the company ...

First of 9 New Foodpanda Stores Begins Operations

Jan 2022 Singapore, Retail/FMCG

In December 2021, Foodpanda, the largest food and grocery delivery platform in Asia outside of China, announced the commencement of operations for a new pandamart store in ...

Singapore Launches the Precision Engineering Industry Digital Plan

Jan 2022 Singapore, ICT

The Singapore government has unveiled a 3-stage digital roadmap for the precision engineering industry, called the Precision Engineering Industry Digital Roadmap (IDP). ...

HDB to Ramp Up Housing Supply by 35% Over Next Two Years

Jan 2022 Singapore, Infrastructure

The Housing Development Board (HDB) is looking to ramp up the supply of new Build-To-Order (BTO) flats over the next two years to meet the strong housing demand from ...

Hilleman Lab Establishes Pilot Manufacturing Facility for Vaccine Development in Singapore

Jan 2022 Singapore, Manufacturing

Hilleman Laboratories, an organization with a mission to develop affordable vaccines and biologics against infectious diseases, has announced a first-of-its-kind vaccine and ...

WeLab to Launch Digital Bank in Indonesia

Jan 2022 Indonesia, ICT

WeLab, a fintech startup from Hong Kong, has acquired a 24% stake in PT Bank Jasa Jakarta to set up a digital bank that is expected to be operational in the second half of ...

BPJS Health Forms Partnership to Ease JKN-KIS Access

Jan 2022 Indonesia, Healthcare

The Social Health Insurance Administration Body (BPJS Health) has formed a partnership with PT Good Doctor Technology Indonesia, a local company that provides online health ...

Bayer to Build New Production Facility and Partner Startups in Singapore

Jan 2022 Singapore, Healthcare

German Multinational Pharmaceutical company Bayer AG has reported that it is in considerations to expand its presence in Singapore and the wider ASEAN region. Plans to ...

Singapore Agri-Food Innovation Lab launched to boost innovation in Agri-food Sector

Jan 2022 Singapore, Agrifood

Nanyang Technological University (NTU Singapore) and Enterprise Singapore (ESG), which is in charge of supporting small and medium enterprises – together launched the ...

Defence Science and Technology Agency (DSTA) Embraces Digital Tech and AI

Jan 2022 Singapore, Defense/Aerospace

Singapore’s Defence Science and Technology Agency (DSTA) is looking at deploying digital technologies and AI as a means to improve the quality of its operational platforms. ...

Singapore Takes Title as World’s Smartest City for 3rd Consecutive Year

Jan 2022 Singapore, Economy

The Annual IMD-SUTD Smart City Index (SCI), a survey published by Swiss business school Institute of Management Development (IMD) and the Singapore University of Technology ...

Singapore LNG Corp and Linde Gas Singapore sign MoU to Develop CO2 Liquefaction and Storage Facility

Jan 2022 Singapore, Energy

Singapore LNG Corp. Pte Ltd (SLNG) and Linde Gas Singapore Pte Ltd have signed a Memorandum of Understanding (MoU) to explore the feasibility and development of a Carbon ...

Jurong Island to be Developed into a Sustainable Energy and Chemicals Park

Jan 2022 Singapore, Environment

Jurong Island is set to become a sustainable Energy and Chemicals Park. In November 2021, the Economic Development Board (EDB) released its “Sustainable Jurong Island” ...

Vietnam’s GDP Grows in the Fourth Quarter as Manufacturing Revives

Jan 2022 Vietnam, Economy

Vietnam's economy bounced back in the fourth quarter (Q4) as manufacturing revived and exports extended their recovery from the pandemic slump earlier 2021. GDP rose 5.22% ...

Vietnam Aims For 75% Renewable Energy by 2045

Jan 2022 Vietnam, Energy

The Vietnamese government plans to generate 75% of national power production capacity and 70% of actual production from renewables by 2045, following the 2021 United Nations ...

Imports of Animal Feed into Vietnam are Increasing

Jan 2022 Vietnam, Agrifood

Vietnam is the largest corn importer in Southeast Asia. Over the next ten years, Vietnam's import demand for corn and grain by-products for animal feed is forecasted to ...

Vietjet Signs Two Contracts in Switzerland

Jan 2022 Vietnam, Defense/Aerospace

Vietjet has signed a Memorandum of Understanding (MoU) with SR Technics, one of the world's leading providers of Maintenance, Repair, and Overhaul (MRO) services, worth USD ...

Philippines’ Frozen Pork Inventory Drops Post-Holiday Season

Jan 2022 Philippines, Agrifood

The Philippines frozen pork inventory in accredited cold storages declined from 75,024.9 MT recorded on November 29, 2021 to 62,695.25 MT as of January 10, 2022. Frozen pork ...

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