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

PayPal and Tinder Co-Founders Raise Seed Capital for Filipino Fintech Startup

Oct 2019 Philippines, ICT

PayPal and Tinder’s Co-Founders, together with other venture capital firms Y Combinator, Global Founders Capital, and Soma Capital, have granted a total USD 2.7 million in ...

Consortium Invests USD 685 Million in Metro Pacific Hospitals

Oct 2019 Philippines, Healthcare

Metro Pacific Investments has revealed it will sell a 42.5% stake in the country's largest hospital chain, Metro Pacific Hospitals Inc., to a consortium led by private equity ...

Clark Set for a New Waste-To-Energy Facility

Oct 2019 Philippines, Environment

Metro Clark Waste Management Corporation (MCWMC) has submitted an unsolicited proposal to construct a USD 210 million waste-to-Energy facility in Clark, Pampanga. The ...

China’s HBIS and Panhua to Invest in Steel Making in the Philippines

Oct 2019 Philippines, Manufacturing

The Philippines’ largest steelmaker, SteelAsia Manufacturing Corp., has signed a memorandum of understanding (MOU) with China’s HBIS Group Limited for their first integrated ...

Alpha Aviation Group Opens New USD 11 Million Simulator Center

Oct 2019 Philippines, Defense/Aerospace

Alpha Aviation Group (AAG) has recently inaugurated its simulator center expansion project in Clark Freeport in the Philippines. The USD 11 million expansion facility ...

VC, PE Funds Can Claim Income Tax Exemption in Malaysia After Three Years

Oct 2019 Malaysia, Economy

The Malaysian Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC) recently announced that high-net-worth individuals, venture capital (VC) or ...

TNB to Install 9.1 Million Smart Meters in Peninsular Malaysia by 2026

Oct 2019 Malaysia, Infrastructure

Tenaga Nasional Bhd (TNB), Malaysia’s only electric utility company throughout Peninsular Malaysia and eastern Sabah is planning to install 9.1 million Advanced Metering ...

Plastic Recyclers Could Contribute MYR 20 Billion Annually to Malaysian Economy

Oct 2019 Malaysia, Environment

The Malaysian Plastics Manufacturers Association (MPMA) and Malaysian Plastics Recyclers Association (MPRA) said Malaysia needed to go hi-tech in order for the plastics ...

National Fiberization and Connectivity Plan to Enhance Digital Infrastructure in Malaysia

Oct 2019 Malaysia, ICT

On 19 September, the Malaysian government officially launched the National Fiberization and Connectivity Plan (NFCP) to provide robust, sustainable, high quality and ...

Malaysian Nestle’s Factory Becomes the World’s Largest Milo Manufacturing Site

Oct 2019 Malaysia, Manufacturing

Nestle (Malaysia) Bhd’s factory at Chembong has been transformed into the world’s largest Milo Manufacturing plant while making it also the largest global center of ...

Malaysia to Create Two Aerospace Institutions over the Next Decade

Oct 2019 Malaysia, Defense/Aerospace

Malaysia is planning to build at least two aerospace and aviation institutions in the next decade as the government seeks to fill the demand for talent from the fast-growing ...

Lao-Thailand-Malaysia Project Enhances ASEAN Cross-Border Power Trade

Oct 2019 Malaysia, Energy

Three ASEAN countries, namely Lao People Democratic Republic (PDR), Thailand and Malaysia (LTM) confirmed an increase in the maximum committed Energy capacity trading of the ...

JCorp’s Subsidiary to Spend MYR 20 Billion on Digital Healthcare Solution

Oct 2019 Malaysia, Healthcare

NewWave Health Sdn Bhd (NHSB), a joint venture company between state-owned Johor Corporation’s (JCorp) subsidiary, N2W Corporation Sdn Bhd (NCSB) and UK-based Smartmed Global ...

Connell Acquires Inno-Cosmic and Nation Maple in Malaysia

Oct 2019 Malaysia, Retail/FMCG

Connell, a US-headquartered leading marketer and distributor of specialty chemicals recently bought Inno-Cosmic Sdn Bhd and Nation Maple, two distributors of instant beverage ...

World Bank Invests USD 150 Million for Geothermal in Indonesia

Oct 2019 Indonesia, Energy

The World Bank’s Board of Executive Directors has approved a USD 150 million loan for Indonesia to scale up investments in geothermal Energy by reducing the risks of ...

KF-X Fighter Prototype from Joint Korean-Indonesian Program to be Unveiled in 2021

Oct 2019 Indonesia, Defense/Aerospace

Korean Aerospace Industries (KAI) is planning to roll out the first Korean Fighter eXperimental/ Indonesian Fighter eXperimental (KF-X) fighter aircraft prototype by the ...

Indonesia-UAE to Establish Sovereign Wealth Fund

Oct 2019 Indonesia, Infrastructure

Indonesia and the United Arab Emirates (UAE) are set to establish a sovereign wealth fund (SWF) that can be used for Infrastructure development. This also includes the ...

Indonesian Ride Hailing Unicorn Gojek Launches Video Streaming Platform

Oct 2019 Indonesia, ICT

Gojek, an Indonesian ride-hailing and payments firm, has launched a video streaming service called GoPlay featuring original movies and TV shows. Subscriptions for GoPlay ...

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