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

Monetary Authority of Singapore Transferring USD 33 Billion to GIC

The Monetary Authority of Singapore (MAS) announced on 8 May that it would be transferring SGD 45 billion (USD 33 billion) from the official foreign reserves (OFR) to the ...

Jet Aviation Integrates Hawker Pacific Operations

Jet Aviation, a subsidiary of American aerospace and defense multinational General Dynamics, announced that it has completed the integration of Hawker Pacific operations at ...

USD 3 Billion Energy Complex to be Built in Batangas City

Three Chinese state-owned companies have agreed to develop a 102-hectare property into an Energy complex in the coastal village of Simlong in Batangas City, ...

Taiwan’s New Kinpo Group Sets Philippines as Group’s Hub in South East Asia

New Kinpo Group (NKG), one of Southeast Asia’s leading electronic Manufacturing companies, is expanding its operations in the Philippines, assisted by the country's Department

Phoenix Petroleum Plans to Convert Circle K to FamilyMart Stores

Phoenix Petroleum Philippines Inc, through its wholly-owned subsidiary Philippine FamilyMart CVS Inc, announced that it is in negotiation to acquire the assets of convenience ...

Philippines’ GDP Growth Surges, to Become Upper Middle-Income Economy by 2022

A report by IHS Markit has forecasted Philippines’ GDP to double within the 2019-2026 period from USD 330 billion to USD 672 billion. Although the growth is expected ...

Philippine National Police Acquires USD 34.5 Million of Vehicles, Equipment

The Philippine National Police (PNP) has acquired fresh vehicles, equipment and bomb-sniffing dogs to beef up the capabilities of its operating units. The acquisition is worth

Manila Bay Establishments Required to Connect to Sewer Lines or Set up Treatment Plants

The Department of Environment and Natural Resources (DENR) is now requiring all establishments within the Manila Bay region to connect to existing sewer lines or set up their ...

DICT Taps Singaporean Company for Fiber Network Rollout

HyalRoute Group, through its subsidiary Philippine Fiber Optic Cable Network, will invest up to USD 2 billion for laying out shared fiber optic cables throughout the country, ...

Ayala to Build First Comprehensive Cancer Specialty Hospital in the Philippines

Ayala Healthcare Holdings, Inc. (AC Health) announced that it is investing PHP 2 billion (USD 38.3 million) to build the first cancer specialty hospital in the country. The ...

ADB Commits USD 2.7 Billion, its Largest Funding Deal to the Philippines

Responding to the Philippine government’s massive “Build, Build, Build” Infrastructure program, the Asian Development Bank (ADB) is ramping up its loan financing from USD 1 ...

Sunsuria Partners with Chinese Corporations for Logistics Park and Automotive Technology

Sunsuria Bhd, a Malaysian investment holding company, has signed a Memorandum of Understanding (MOU) with Chinese logistics provider Sinotrans to explore setting up a smart ...

Sabah to Host New Aerospace Training Center

The state of Sabah in Malaysia will host the country’s first and only aircraft maintenance technician training center when the proposed MYR 25 million (USD 5.99 million) KKIP ...

Nestle Malaysia Announces MYR 220 Million of Capital Expenditure

Nestle Malaysia Bhd announced capital expenditure (capex) of MYR 220 million (USD 52.75 million) for the current year, with the majority, MYR 100 (USD 23.98 million), ...

Maxis Launches First Commercial Narrowband-IoT Service in Malaysia

Maxis has launched Malaysia’s first commercial Narrowband Internet of Things (NB-IoT) service. Starting from April 2019, the company activated its NB-IoT network within key ...

Malaysian PM Announces Plans for One-Stop Center to Attract FDI

Tun Dr Mahathir Mohamad, the Prime Minister of Malaysia, announced he is planning to set up a one-stop center to ease the approval process for investments and reduce red tape ...

Malaysian Government Planning Water Resources Bill to Reduce Pollution

The Ministry of Water, Land and Natural Resources in Malaysia is planning a comprehensive Water Resource Bill to tackle water pollution. The national level bill is meant to ...

Malaysia’s Petronas acquires Amplus Energy Solutions

Petronas, a Malaysian state-owned oil and gas company, has entered into an agreement with I Squared Capital, a leading global Infrastructure investor, to acquire 100% interest

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