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

Danone-AQUA and Veolia Indonesia Inaugurate the most Modern and Largest Plastic Recycling Facility in Indonesia

Jun 2021 Indonesia, Environment

PT Veolia Services Indonesia (Veolia Indonesia) in partnership with PT Tirta Investama (Danone-AQUA) have inaugurated the largest and the most modern recycling and ...

Wärtsilä Finalizes Commissioning of First Two Energy Storage Projects in the Philippines

Jun 2021 Philippines, Energy

The technology group Wärtsilä has signed multiple energy storage contracts with SMC Global Power Holdings Inc. through its subsidiary, Universal Power Solutions Inc, in the ...

Vietnam and Denmark Join Forces for the Construction of an Offshore Wind Farm

Jun 2021 Vietnam, Energy

In May 2021, the La Gan Wind Power Development Corporation agreed to collaborate with Vietnam’s Northern Center for Planning and Investigation of Marine Resources and ...

Petronas Appoints Ria Solutions To Enhance Fire Water System on its Floating LNG Facility

Jun 2021 Malaysia, Energy

Malaysia’s Fortune 500 oil and gas firm Petronas has selected Ria Solutions (M) Sdn Bhd, a distributor for Norwegian-based Vipo to supply 1,400 m of its Elastopipe™ flexible ...

Pavilion Energy and bp Singapore Sign a 10-year LNG Supply Agreement for Singapore

Jun 2021 Singapore, Energy

Singapore's Pavilion Energy has signed a 10-year deal to buy liquefied natural gas (LNG) from bp's Singapore unit starting in 2024, as the city-state seeks to diversify its ...

Indonesia to Receive USD 836 Million for Green Energy Projects, Considers Nuclear Plant

Jun 2021 Indonesia, Energy

In June 2021, the Indonesian Minister of Environment and Forestry confirmed that the country is committed to reducing greenhouse gas emissions by 41% by 2030, equivalent to ...

Foreign Players Target Clean Energy Investments in Thailand

Jun 2021 Thailand, Energy

In May 2021, it was revealed that five Japanese companies, among which Toyota, expressed interest in investing in renewable energy businesses at Smart Park industrial estate ...

Vietnam to Allocate Over USD 120 Billion in Public Investment Projects

Jun 2021 Vietnam, Economy

In May 2021, it was reported that public investment projects in Vietnam up to 2025 will be funded with an estimated budget of over USD 120 billion. This expected budget ...

Thailand’s Exports Rise by 13% as the Economy Recovers

Jun 2021 Thailand, Economy

The Thai economy is on track to recover from the adverse effects of the Covid-19 pandemic, as illustrated by the recent announcement that the South East Asian´s exports rose ...

Singapore’s 2021 Economic Growth Could Exceed Forecast of 4% to 6%

Jun 2021 Singapore, Economy

According to the latest report by the Monetary Authority of Singapore (MAS), the recent tightening of domestic restrictions and border controls will cause a near-term setback ...

Shopee Malaysia’s Various Partnerships Generate USD 240 Million in Sales

Jun 2021 Malaysia, Economy

Malaysia’s largest online shopping platform, Shopee, has announced MYR 1 billion (USD 240 million) in sales in the country since the first movement control order (MCO) that ...

Megaworld Corporation Readies Philippines’ Largest Real Estate Investment Trust (REIT) Listing

Jun 2021 Philippines, Economy

Megaworld Corp plans to raise PHP 27.3 billion (USD 567 million) from its Initial Public Offering (IPO) of MREIT, Inc., its real estate investment trust (REIT), by selling 49 ...

Indonesia’s Newest Economic Zone Seeks USD 17 Billion Investments

Jun 2021 Indonesia, Economy

Indonesia’s newest special economic zone expects to attract about USD 17 billion in investments, now that it is open to foreign investors and comes with a series of tax ...

Vietnam to Receive Beechcraft T-6 Texan II Aircraft from the United States

Jun 2021 Vietnam, Defense/Aerospace

In June 2021, it was revealed that the US Air Force (USAF) agreed to supply Vietnam with the Beechcraft T-6 Texan II turboprop trainer/light-attack aircraft. The agreement ...

Singapore to Set Up New Cyber-Security and Information Center for ASEAN Defense Exchanges

Jun 2021 Singapore, Defense/Aerospace

Singapore is poised to set up a new Cybersecurity and Information Center to allow exchanges among ASEAN defense establishments in response to threats posed by cyber-attacks, ...

Philippines Considers Submarine Procurement from South Korea

Jun 2021 Philippines, Defense/Aerospace

The Philippine Defense Assistant Secretary for Logistics and Acquisition visited the Republic of Korea Navy's (RoKN's) Submarine Force Command and held talks with his ...

Malaysian Drone Company Partners with Thai Players for Joint Venture for Infrastructure Inspection

Jun 2021 Thailand, Defense/Aerospace

Malaysian drone company Aerodyne Group has created a new Joint Venture (JV) with Thai partners AI and Robotics Ventures and Digital Creation. The JV will be called AeroSky, ...

Indonesia Outlines USD 125 Billion Modernization Plan for the Military, Attracts Wave of Foreign Providers

Jun 2021 Indonesia, Defense/Aerospace

Indonesia has drafted an outline for an investment of USD 125 billion as part of a new 25-year modernization plan. The initiative is indicative of the country´s military ...

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