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

Spanish Solarpack Wins 21-Year Solar PPA for 116 MW Plant in Malaysia

Jan 2020 Malaysia, Energy

Spanish solar developer Solarpack has been awarded a 21-year power purchase agreement (PPA) by the Malaysian Energy commission Suruhanjaya Tenaga (ST) for a 116-MW solar ...

Marine Debris Policy to be Introduced in Malaysia

Jan 2020 Malaysia, Environment

Malaysian Minister of Energy, Science, Technology, Environment and Climate Change (MESTECC) Yeo Bee Yin announced that a marine debris policy will be established by the ...

Malaysian Regulator Reveals Tender Plans for 5G Spectrum Allocation

Jan 2020 Malaysia, ICT

The Malaysian Communications and Multimedia Commission (MCMC) has released its final report on the allocation of spectrum bands for mobile broadband service in Malaysia. The ...

Malaysian Government Approves Four Manufacturing Projects Worth MYR 5.4 Billion

Jan 2020 Malaysia, Manufacturing

The Malaysian Minister of the International Trade and Industry (MITI) Darell Leiking announced in December 2019 that the government has approved four Manufacturing projects ...

Malaysian Central Bank Proposes to Issue up to 5 Digital Banking Licenses

Jan 2020 Malaysia, Economy

Malaysia’s central bank, Bank Negara Malaysia (BNM) has proposed to issue up to five licenses to establish digital banks in either conventional or Islamic banking business in ...

Malaysia to Conduct Open Tender for Submarine Maintenance Contracts in 2021

Jan 2020 Malaysia, Defense/Aerospace

Malaysian Defense Minister Mohamad Sabu has announced that the ministry will conduct an open tender for the maintenance contract of the Royal Malaysian Navy (RMN)’s ...

Malaysia Plans to Publish World’s First Halal Pharmacopeia in 2020

Jan 2020 Malaysia, Healthcare

The University of Science Malaysia (USM) and Penang International Halal Hub (PIHH) Development Sdn Bhd (Halal Penang) has signed a memorandum of understanding (MoU) to launch ...

HSS Engineers Secures MYR 71.3 Million Contract in Johor state

Jan 2020 Malaysia, Infrastructure

HSS Integrated Sdn Bhd (HSSI), a leading Malaysian Engineering Consultancy firm under HSS Engineers Bhd, has bagged MYR 71.3 million (USD 17.5 million) worth of contract to ...

Chinese E-Commerce Giant Taobao Opens its Largest Physical Store in Malaysia

Jan 2020 Malaysia, Retail/FMCG

Chinese e-commerce giant, Taobao, a part of the Alibaba Group, has launched its largest retail store named ‘Taobao’ in Kuala Lumpur, in partnership with MyTOWN Shopping ...

Malaysia to Work with Turkey on Armored Vehicle Production

Jan 2020 Malaysia, Defense/Aerospace

The Malaysian government through its Defense Minister Mohamad Sabu, announced that it will work with Turkey to produce eight-wheel armored combat vehicle to beef up its ...

Cypark and Petronas Chemicals Explore Waste-To-Energy Projects in Malaysia

Jan 2020 Malaysia, Environment

Cypark Resources Bhd inked a Memorandum of Understanding (MoU) with Malaysia's leading chemical producer, Petronas Chemicals Group Bhd, regarding possible collaboration on ...

Ann Joo and Southern Steel Forming JV for Manufacturing Long Steel Products

Jan 2020 Malaysia, Manufacturing

Established players in the Malaysian steel market Ann Joo Resources Bhd (AJRB) and Southern Steel Bhd (SSB) have signed a signed a memorandum of understanding (MoU) for the ...

Warburg Pincus Backed Venture Purchases Five Lippo Malls

Jan 2020 Indonesia, Retail/FMCG

Warburg Pincus LLC backed shopping mall developer, NWP Retail, will spend USD 123.5 million to purchase five Lippo shopping malls in Indonesia. Two shopping malls will be ...

Indonesia Opens up Airport Management Projects to Foreign Companies

Jan 2020 Indonesia, Defense/Aerospace

Indonesia plans to offer more airport management projects in 2020, following its first award to a foreign company for the Labuan Bajo airport in Nusa Tenggara Timur, which ...

Indonesia Needs IDR 1,000 Trillion Investment to Reach 6% GDP Growth

Jan 2020 Indonesia, Economy

The Indonesia’s Investment Coordinating Board (BKPM) is looking for nearly IDR 1,000 trillion of investment to push the country's economic growth to 6%, as per the national ...

Indonesia Considering Setting Fixed Fees for E-Wallet Transactions

Jan 2020 Indonesia, ICT

Indonesia is mulling setting fixed fees on some e-wallet transactions at 0.7%. This step could have a significant impact on the rapidly growing digital payments sector in ...

Hyundai Motor to Build First South East Asian Plant in Indonesia

Jan 2020 Indonesia, Manufacturing

Hyundai Motor has struck an agreement with the Indonesian government to produce cars with auto parts supplied by local partners. This is the first time the Korean automaker ...

Grab Working with Indonesian Government to Develop EV Ecosystem

Jan 2020 Indonesia, Environment

Grab and the Indonesian government have launched an Electric Vehicles (EV) Ecosystem Roadmap to accelerate EV adoption in Indonesia and create a more Environmentally ...

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