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

Singapore Surpasses 50 Million Metric Tons in Marine Fuel Sales

Feb 2022 Singapore, Energy

The Maritime and Port Authority of Singapore (MPA) has reported sales of 50,000 metric tons (mt) for ship-to-ship LNG bunkering operations in 2021. Combined with sales of ...

Thailand Plans 36 Mega-infrastructure Projects Worth USD 45 Billion

Feb 2022 Thailand, Infrastructure

Thailand is planning major infrastructure projects for 2022. Cumulatively valued at over USD 45 billion, these mega-infrastructure projects aim at improving the country's ...

Singapore Achieves Medium to Long Term Investment Target Despite Pandemic Challenges

Feb 2022 Singapore, Economy

Singapore’s Economic Development Board (EDB) announced that it had pulled in SGD 11.8 billion (USD 8.8 billion) worth of fixed-asset investments in 2021, in line with its ...

San Miguel to Commence Operation of Battery Energy Storage Facilities in 2022

Feb 2022 Philippines, Energy

SMC Global Power Holdings Corp., the energy arm of San Miguel Corporation, has announced that a total of 690 MW of its 1,000-MW Battery Energy Storage System (BESS) ...

Philippines Embarks on Major Infrastructure Projects in Eastern Visayas

Feb 2022 Philippines, Infrastructure

The Philippines’ Department of Public Works and Highways (DPWH) Region VIII is looking to implement infrastructure projects worth PHP 43 billion (USD 0.8 billion) in Eastern ...

Philippines Ties Up with France to Improve Local Dairy Industry

Feb 2022 Philippines, Agrifood

A joint declaration to enhance cooperation in food security was signed between the government of the Philippines and France. The discussion puts emphasis on developing the ...

Philippine Air Force and Philippine Army Bolsters Acquisitions for Humanitarian and Defense Missions

Feb 2022 Philippines, Defense/Aerospace

The Philippines will have more assets for humanitarian assistance and disaster relief (HADR) missions as initial funding, valued at PHP 1.6 billion (USD 31.2 million), for ...

PEZA Eyes More Investments From the US

Feb 2022 Philippines, Economy

The Philippine Economic Zone Authority (PEZA) is engaging more US firms to invest in the country’s economic zones and take part in promoting stronger bilateral relations ...

New Law Eases Requirements for Foreign Retail Investors in the Philippines

Feb 2022 Philippines, Retail/FMCG

A bill that amends the Retail Trade Liberalization Act (RTLA) of 2000 was signed by President Rodrigo Duterte into law. Known as RA 11595, the new law will lower the amount ...

New Essential Oil Manufacturing Facility Established in the Zambales Province

Feb 2022 Philippines, Manufacturing

The Department of Trade and Industry's Board of Investment (BOI) has accredited a Philippine company called Iba Botanicals, Inc., a new essential oil producing company. The ...

Schneider Electric Teams Up with Nanyang Polytechnic on Green Technology Initiative

Feb 2022 Singapore, Infrastructure

Last month, Nanyang Polytechnic (NYP) and Schneider Electric launched the Sustainability Experience Centre, a one-stop platform aimed at helping Singapore's SMEs implement ...

Lotte Chemical Indonesia to Construct USD 3.9 billion Petrochemical Plant in Banten

Feb 2022 Indonesia, Manufacturing

South Korea’s Lotte Group has resumed the construction of a USD 3.9 billion petrochemical project in Indonesia, paving the way for realizing the group’s plan to expand the ...

Foxconn to Develop a Sustainable New Energy Ecosystem in Indonesia

Feb 2022 Indonesia, Environment

Hon Hai (Foxconn), a global leader in smart manufacturing, signed an MoU in January 2022 with the Indonesian Ministry of Investment, Indonesia Battery Corporation (IBC), ...

Indonesia’s Coffee Chain Reaches Unicorn Status with USD 96 Million Funding

Feb 2022 Indonesia, Retail/FMCG

Kopi Kenangan, an Indonesia-based coffee chain, has obtained USD 96 million Series C funding from Tybourne Capital Management, followed by Horizon Ventures, Kunlun, B Capital ...

Hyundai Motor to Produce the First Made-in-Singapore Electric Vehicles

Feb 2022 Singapore, Manufacturing

During the Consumer Electronics Show (CES) 2022, Hyundai Motor announced its partnership with San Francisco's Unity Technologies, where both companies agreed to develop a ...

Home Improvement Brand Aims at Opening over 100 Stores a Year in Thailand

Feb 2022 Thailand, Retail/FMCG

Home improvement brand MR D.I.Y. has announced its goal of opening at least 100 new stores a year, spurred by strong revenue over the past two years despite the Covid-19 ...

Good Doctor Technology Strengthens Ecosystem Partnerships in Thailand

Feb 2022 Thailand, Healthcare

Good Doctor Technology Thailand (GDTT), the subsidiary company of regional digital healthcare service provider Good Doctor Technology has recently announced its intention to ...

DOH to Build 7 New Laboratories for the Detection of Vaccine-Preventable Diseases

Feb 2022 Philippines, Healthcare

The Department of Health (DOH) is establishing seven subnational laboratories (SNLs) for the detection of vaccine-preventable diseases (VPDs) in the Philippines. The ...

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