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

Defense Department to Acquire USD 533 million Korean-made Offshore Patrol Vessels

Jul 2022 Philippines, Defense/Aerospace

On the last week of June 2022, the Philippine Department of National Defense (DND) and South Korean shipbuilder Hyundai Heavy Industries (HHI) signed the PHP 30 billion (USD ...

Japanese Manufacturing Company Plans USD 710 Million Expansion of Subic Facility

Jul 2022 Philippines, Manufacturing

The Department of Trade and Industry (DTI) said Japan’s Nidec Corp., a maker of electric motors, is planning a PHP 40 billion (USD 710.8 million) expansion of its ...

South Korean Firm to Invest PHP 750 Million in a Tapioca Starch Plant in Mindanao

Jul 2022 Philippines, Agrifood

Daesang Philippines Corp., the local unit of South Korea’s Daesang Corp., has received approval from the Board of Investments (BOI) to produce tapioca starch in the country ...

More Opportunities for Vietnamese Coffee Export to the US

Jul 2022 Vietnam, Agrifood

Vietnam is anticipating more chances in the US market as the price of its coffee exports is rising. In the first five months of 2022, Vietnam raked in USD 124.95 million from ...

Singapore to Spend USD 2.7 billion in ICT, with 80% of Contracts Expected to Stay Open for SMEs

Jul 2022 Singapore, ICT

The Singapore Government announced in June that it plans to spend USD 2.7 billion for infocommunications technology (ICT) procurement in 2022 with small and medium-sized ...

Singapore to Double Number of Eldercare Centers by 2025 and Expand Their Services

Jul 2022 Singapore, Healthcare

The Singapore Ministry of Health (MOH) has announced plans to nearly double the number of eldercare centers in Singapore from 119 to 220 by 2025. This announcement comes ...

Vietnam to Host Apple’s iPad Production for The First Time

Jul 2022 Vietnam, Manufacturing

Apple has announced to produce iPad in Vietnam for the first time. This is in an effort to diversify its supply chain and lessen reliance on China, the company’s primary ...

Kinetic Energy Storage Firm Expands its Operation Capacity in the Philippines

Jul 2022 Philippines, Energy

Amber Kinetics, a manufacturer of grid-scale kinetic energy storage systems (KESS) will complete its second manufacturing plant in the country by year-end, expanding its ...

Rising Chip Demand Leads to 13.8% Hike in the Manufacturing Sector

Jul 2022 Singapore, Economy

The global chip shortage led to increasing demand for semiconductors, which in turn made Singapore’s manufacturing output jump 13.8% year-on-year in May. For eight months the ...

KFC and Tria Partner to Attempt Food and Packaging Waste Management

Jul 2022 Singapore, Environment

KFC and sustainable packaging firm, Tria partner on a project that plans to recycle food and packaging waste into fertilizers. The pilot project started in June at KFC’s ...

Grant to Help Firms Reduce Energy Bills

Jul 2022 Singapore, Economy

On June 21st, Singapore’s Ministry of Finance announced the new Energy Efficiency Grant. The grant will assist SMEs in the food services, food manufacturing, and retail ...

Defense Memorandum between Japan and Singapore

Jul 2022 Singapore, Defense/Aerospace

At the 19th Shangri-La Dialogue in Singapore, Japan Minister of Defense Kishi Nobuo and Singapore Defense Minister Dr Ng Eng Hen signed an Enhanced Memorandum on Defense ...

Arquus and Pindad Cooperation on Indonesia’s Future Programs

Jul 2022 Indonesia, Defense/Aerospace

Arquus and PT Pindad signed an MoU during the Eurosatory 2022 exhibition, which took place in Paris, to create a future partnership in land systems platforms for Indonesia. ...

Malaysia’s Graphene-Enhanced Super Battery Energy Solutions Attract Dongying Cospower Technology

Jul 2022 Malaysia, Energy

Malaysia’s energy R&D firm, Graphene Synergy Sdn Bhd, has created the country’s first graphene-enhanced super battery energy solutions that could potentially disrupt the ...

TOYO Initiates Feasibility Study for Green Ammonia Production in Indonesia

Jul 2022 Indonesia, Environment

TOYO Engineering Corporation received an award from the Ministry of Economy, Trade, and Industry (METI), Government of Japan and will start a feasibility study for green ...

Singapore to Boast of the Largest Cultivated Meat Facility in Asia

Jul 2022 Singapore, Agrifood

Scheduled to open at JTC Bedok Food City in Singapore in the first quarter of 2023, Good Meat is a company that makes healthier and more sustainable foods by applying the ...

Pandawa Agri Indonesia Partners with Rabo Foundation to Establish Smallholders Sustainable Agri Initiatives in Eastern Indonesia

Jul 2022 Indonesia, Agrifood

Pandawa Agri Indonesia (PAI), an Agri life science company focused on pesticide reductant development, partners with Rabo Foundation, establishing the Mbay Rice Ecosystem ...

Singapore’s Annual GDP Affected Due to War and Covid-19 Disruptions

Jun 2022 Singapore, Economy

In the first quarter of 2022 Singapore's economy showed promising growth, way more than was previously estimated. However, the annual GDP will stay in the lower half of the ...

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