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

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 ...

UAE Investing Over USD 32 Billion in Indonesia

It has recently been disclosed that the United Arab Emirates (UAE) is investing USD 32.7 billion in Indonesia across different sectors, including for Covid-19 vaccine ...

Yili Group Builds Largest Ice Cream Factory in Indonesia

PT Yili Indonesia Dairy, a subsidiary of the Yili Group, has just completed its new smart ice cream factory at the Greenland International Industrial Center, Bekasi, West ...

Volta to Manufacture 5,000 E-motorcycles Per Month

PT Volta Indonesia Semesta, a joint venture subsidiary of PT NFC Indonesia Tbk and PT SiCepat Ekspres Indonesia, has recently announced plans to produce 60,000 electric ...

Toshiba Boosts Philippines’ Electronics Sector, Manufacturing Returns to Growth

The Philippines' manufacturing industry expanded in December 2021 and recorded its highest growth rate in 9 months, according to a monthly survey conducted by IHS Markit. The ...

Philippines to Bid Out 3 ADB Funded Bridges in Marikina City

The Department of Public Works and Highways (DPWH) of the Philippines announced that construction of three new bridges crossing Marikina River will commence by the second ...

NEDA Prepares Master Plans for Smart City Adoption in Emerging Megacities

The National Economic and Development Authority (NEDA) is preparing 13 sector-wide master plans in identified urban areas nationwide to help these urban corridors adopt smart ...

Philippines Receives USD 600 Million Loan from ADB for its Universal Health Care Program

The Asian Development Bank (ADB) has approved a USD 600 million policy-based loan to help the Philippines provide quality and equitable health services for all Filipinos as ...

Philippines Approves USD 97.9 Billion National Budget for 2022

President Rodrigo R. Duterte has signed into law the PHP 5.024 trillion (USD 97.9 billion) national budget for 2022, which will be used for the country’s COVID-19 pandemic ...

Philippines to Buy Two Warships From South Korean Shipbuilder

The Department of National Defense (DND) has signed a PHP 28 billion (USD 545.7 million) contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the ...

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