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

BSP: Philippine Banks Capitalizing on Fintech to Reach Greater Scale

The central bank of the Philippines (Bangko Sentral ng Pilipinas or BSP) highlighted in its latest Banking Sector Outlook Survey (BSOS) report that majority of local banks ...

Bill Approved to Build Hospital for Overseas Filipino Workers and Dependents

On 3 June, the Philippine House of Representatives approved House Bill 9202 which seeks to establish the Overseas Filipino Workers (OFW) Hospital with at least tertiary level ...

Baguio Sewage Treatment Plant Due for Upgrading, Expansion

The Mayor of Baguio City in the Philippines recently ordered the City Buildings and Architecture Office (CBAO) to craft a program for the upgrading and expansion of the ...

Scatec Solar connects 65MW solar plant to grid

Scatec Solar, a Norwegian firm, and its partners have connected the 65 MW (DC) Jasin plant to the grid. This is the second of three 65 MW solar plants being built by Scatec ...

Sabah Considering Setting up Council to Promote Medical Tourism

The state government of Sabah in Malaysia is planning to set up a Health Tourism Council under the Ministry of Tourism and Culture to promote Medical tourism in the state. ...

Petronas Initiates Production at Floating LNG Facility

Petronas, the Malaysian State Owned Enterprise (SOE) recently achieved its first Liquefied Natural Gas (LNG) drop at its floating LNG facility, PLFING Satu, at the Kebabangan ...

Perangsang Selangor Acquires Plastic Injection Molding Firm

Kumpulan Perangsang Selangor Bhd (Perangsang Selangor), a corporate entity owned by the state of Selangor, is buying a 100% stake in Toyoplas Manufacturing, an integrated ...

Oracle Launches Cloud Solution Hub in Malaysia

Oracle has launched a new Cloud Solution Hub in Kuala Lumpur to help organizations of all sizes, particularly Small and Medium Enterprises, to benefit from technologies such ...

New Facility in Malaysia to Assemble Chinese Y-12F Aircraft

A USD 100 million plant for assembly of the Harbin Y-12F aircraft  is under construction at the Alor Setar airport in Kepala Batas, Kedah, Malaysia. Once this facility is ...

Malaysian Ministry Signs Deals with Chinese Firms for Affordable Housing

The Malaysian Ministry of Housing and Local Government signed a Memorandum of Understanding (MOU) with 8 Chinese companies for potential future foreign direct investment and ...

Malaysia Fourth Biggest beneficiary of Sino-US Trade War

According to a research report by Japanese Bank Nomura, Malaysia is the fourth biggest beneficiary of the trade war. Vietnam is the biggest beneficiary, gaining 7.9% of its ...

Aeon Malaysia to Inject USD119 million on New Malls and Renovations

This fiscal year, Aeon Malaysia is set to spend approximately MYR 500 million (USD 119.2 million) on mall refurbishments and new locations. A slight decrease from last year, ...

Tokopedia Expanding E-Commerce Services to Keep Rivals at Bay

Indonesian e-commerce giant Tokopedia is expanding its one-day delivery guarantee to nearly all of its products in a move to keep rivals at bay. While the 100% Indonesia ...

Ratings Agency S&P Raises Indonesia’s Sovereign Rating to BBB

Credit rating agency, Standard & Poor's (S&P) upgraded the Sovereign Credit Rating of the Republic of Indonesia from BBB-/ Stable Outlook to BBB/Stable Outlook on 31 May ...

Indonesian Organization Lands Google Aid to Reduce Plastic Waste

Google will provide training, funding and assistance to Gringgo Indonesia Foundation to develop artificial intelligence (AI) as a means to sort and reduce plastic waste. The ...

Indonesia to Invest USD 412 billion in Infrastructure Between 2020 and 2024

With plans including the construction 25 airports and new power plants, Indonesia hopes to boost the economy by investing a record 5,957 trillion rupiah (USD 412 billion) in ...

Indonesia Considers Opening Domestic Routes to Foreign Airlines

Indonesia's President Joko “Jokowi” Widodo has submitted a proposal to the transportation ministry to allow foreign airlines to serve domestic routes as a way to reduce ...

Indonesia Collaborating with Taiwan for Industry 4.0 Development

The Ministry of Industry of Indonesia has announced a collaboration with the Industrial Technology Research Institute (ITRI) in Taiwan and management consulting firm, ...

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