Business News

Business news to help you keep track of the latest developments and identify new opportunities across key sectors in South East Asia

Monthly Business News to Help You Understand the Market

SMIC Targets Nationwide Expansion

SM Investments Corporation (SMIC), the Philippines’ largest conglomerate, has announced plans to ramp up its property and retail projects. SM Prime Holdings, SMIC’s property ...

Railway Development Gets 99% of the 2020 Transportation Infrastructure Budget

In a remarkable move, the Department of Transportation (DOTr) has allotted 99% of its transportation Infrastructure budget for 2020 to the construction, rehabilitation and ...

Philippines to Collaborate with Russia on Nuclear Power Plants

A memorandum of agreement for a prospect of building a nuclear power plants in the county was among the 10 business deals signed by President Rodrigo Duterte during his visit ...

Philippines Receives Record Funding from ADB

The Philippines becomes the third largest recipient of loan funding from the Asian Development Bank (ADB), as the multinational donor aims to support the government in its ...

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

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

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

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

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

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

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

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

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

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

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

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 excellence

Malaysia to Create Two Aerospace Institutions over the Next Decade

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

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

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

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 ...

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