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

New Essential Oil Manufacturing Facility Established in the Zambales Province

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

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

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

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

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

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

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

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

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

CK Power to Add 2,800 MW of Renewables-based Electricity, Doubling in Size

In January 2022, Thai company CK Power, one of the region’s largest producers of renewables-based electricity, announced that it plans to more than double in size in the next ...

Ayala Property Management Corp Taps Globe Business for IoT Solutions

As the biggest property management company in the Philippines, Ayala Property Management Corporation (APMC) needed to transform its operations to digital to provide an ...

Thailand Buys Eight F-35, Plans to Buy Four More with a USD 414 Million Budget

Thailand is taking an active step to modernizing its air forces. In January 2022, it was reported that the Royal Thai Air Force (RTAF) intends to buy eight F-35 fighter jets ...

CP Foods Co-develops Plant-based Meat with American Start-up

Thai pork and poultry giant CP Foods partnered with Lypid, a start-up from the United States to create plant-based meat with the same taste and texture as real meat. CP Foods ...

Austrian Companies Bring Smart City Solutions to Thailand

Thailand is signaling an openness to collaborate with foreign businesses to facilitate technology exchange and drive smart city development in the country, with the signing ...

Indonesia Partners with US Mayo Clinic to Build International Hospital

The Indonesian government estimates that some two million Indonesians travel overseas every year for medical check-ups, treatment and other medical services, spending around ...

Indosat Ooredoo and Hutchison Tri Indonesia Officially Merge

PT Indosat Tbk and PT Hutchison 3 Indonesia have officially merged as Indosat Ooredoo Hutchison in January 2022. The merger is intended to create a new world-class digital ...

Indonesia’s Booming Food Market on the Radar of Australian Exporters

Food demand in Indonesia is to quadruple within the next thirty years. According to the Australian Bureau of Agricultural and Resource Economics (ABARES), this fast-paced ...

Scottish Company Secures Funding for Exploring Tidal Turbine Farm in Indonesia

Innovate UK, the UK’s innovation agency, recently awarded Scottish firm Nova Innovation GBP 200,000 (USD 273,000) of investment funds to evaluate the feasibility of ...

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