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

Indonesia’s Food Delivery Market Ranks First in the Region

In 2020, Indonesia’s food delivery service accounted for USD 3.7 billion in Gross Merchandise Value (GMV), making it the largest market in the region. Overall, the region’s ...

IKEA to Open its Largest Store in the World in Manila by Q3/Q4 2021

Swedish furniture giant IKEA is on track to open its largest store in the world in Manila in the 3rd or 4th quarter of 2021. Towards the end of February 2021, it had already ...

FGV Introduces New Plant-Based Industrial Products to Expand its Brand in Asia Pacific

FGV Holdings Berhad (FGV), Malaysia’s plantation and food conglomerate through its subsidiary firm Delima Oil Products Sdn Bhd (DOPSB) is planning to expand its downstream ...

Sunway Medical Center Introduces Telemedicine Command Center

Sunway Medical Centre, a leading private tertiary hospital in Malaysia has officially established a Command Center for Telemedicine Services which will serve as the focal ...

Singapore-based Thomson X Enters Strategic Partnership with Eye Healthtech Startup Plano

Thomson X, a wholly-owned subsidiary of the Thomson Medical Group (TMG), entered into a strategic partnership with Singapore-based healthtech startup Plano. The partnership ...

PEZA Opens First Pharma Ecozone in Bulacan

The Philippine Economic Zone Authority (PEZA) has officially granted Philstar Marketing Development, Inc. registration as a developer and operator of its First Bulacan ...

New Joint Venture for Production and Distribution of Covid-19 Test Platform

Achiko AG and PT Indonesia Farma Medis (PIFM) have established a new joint venture called PT Achiko Medika Indonesia. PFIM and Achiko will jointly manufacture and assemble ...

Japan’s Healthcare Firms Expand Footprint in Vietnam

According to the Japan External Trade Organization (JETRO), Japanese companies operating in the healthcare sector are increasing their presence in Vietnam through both ...

Siriraj Hospital Implementing NTT and Cisco’s Telemedicine Solutions for Stroke Patients

Global technology services provider companies NTT and Cisco commenced a partnership with one of the biggest public hospitals in Thailand, Siriraj Hospital, to implement ...

Thailand Eyes Significant Electric Vehicles Expansion by 2030

To address worsening air pollution, Thailand has set a target for electric vehicles (EVs) to account for 30% of car production by the end of the decade. The 30% target will ...

Tesla Looking to Build Car Battery Plant in Indonesia

It has been reported that the government of Indonesia has received an investment proposal from Tesla for a potential car battery plant and energy storage system. Tesla ...

Philippines Aims to Become PPE Manufacturing Hub in Asia

The Philippine government, through its lead investment promotion arm, the Board of Investments (BOI), is wooing Japanese manufacturers to turn the Philippines into their ...

Apple to Shift More Production to Vietnam

Despite the hope that US-China tensions will ease under President Joe Biden, Apple has not slowed down its supply chain diversification process out of China. According to ...

Apple Begins Production of M1 Mac Mini in Malaysia

Apple has relocated its production facility from China and started to manufacture M1 Mac Mini in Malaysia.  This is part of the company's bigger plan to decentralize its ...

Wabtec to Supply Brake Systems for Singapore Mass Rapid Transit (MRT)

Wabtec (Westinghouse Air Brake Technologies) has won an order from the Hyundai Rotem Company to supply key components for train cars to Singapore Mass Rapid Transit’s (MRT) ...

Thailand’s Industrial Estates Likely to Expand in 2021

According to Colliers International Thailand, in 2021, land sales and leases will grow by 5-10% on average or 2,500-3,000 rai, thanks to government investment and ...

Philippine Department of Transportation Ramps Up Airport Construction Projects

The Department of Transportation (DOTr), in partnership with the Civil Aviation Authority of the Philippines (CAAP), has completed 121 airport projects to date. It ...

New Metro Project Approved for Hanoi

Vietnam's Ministry of Transport has approved Hanoi's proposal to construct the city's 5th Metro Line and has submitted an application to the Ministry of Investment and ...

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