Business

Singapore, Thailand to pursue e-payment alliance

Singapore and Thailand are in discussions about connecting their national digital payment systems to forge an unprecedented regional alliance, as officials step up efforts to curb the use of cash.The link would bring together Southeast Asia’s first national digital-payment platforms, Singapore’s PayNow and Thailand’s PromptPay, said Naphongthawat Phothikit, director of payment systems policy at the Bank of Thailand.“The Monetary Authority of Singapore and the Bank of Thailand are exploring th

5 October 2017
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Celebrating Indonesia’s cultural heritage, batik

“I consider myself lucky to be able to wear batik on several international events in Indonesia and overseas. It is a sense of pride,” Monika Nabillya, a 26-year-old accountant who resides in Indonesia, told The ASEAN Post.Batik is one of the most highly developed art forms of Indonesia’s rich cultural heritage. In 2009, UNESCO (The United Nations Educational, Scientific and Cultural Organisation) recognised Indonesian batik as a Masterpiece of Oral and Intangible Heritage of Humanity.

2 October 2017
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Go-Jek to expand beyond Indonesia

Go-Jek, Indonesia’s first billion-dollar startup, is looking to expand its ride-hailing services to three to four countries in Southeast Asia, escalating its rivalry with Grab and Uber Technologies.Co-founder and Chief Executive Officer Nadiem Makarim didn’t specify the countries or services that Go-Jek will target, but said in an interview they will be places with a large population and where cash rules, hinting that Go-Jek’s digital payment service will be a key part of its push into new ma

2 October 2017
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Formula One: Malaysian GP '200%' cancelled, says circuit chief

The Malaysian Grand Prix is "200 percent" cancelled after this weekend's final race, the circuit's head told AFP, adding that the loss-making event had been hit hard by competition from neighbouring Singapore.The high-speed Sepang International Circuit, with its tough, tropical recipe of steamy heat and unpredictable rain will disappear from the Formula One calendar after 19 races dating back to 1999. And Asia's second-oldest race after Japan is not likely to return a

29 September 2017
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Wall Street Journal ends print editions in Europe, Asia

The Wall Street Journal, part of Rupert Murdoch’s News Corp., is closing down print editions in Europe and Asia as a result of shrinking advertising.The final print edition in Europe will be Friday, with the Asian edition ending a week later, the newspaper reported Thursday in an article, citing company officials.

29 September 2017
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Electric car-sharing service to roll into Singapore

An electric car-sharing service will be launched in Singapore in December, in what the company behind the scheme said Wednesday was a first for Southeast Asia.BlueSG, a subsidiary of France's Bollore Group, said that 80 cars and 30 stations where vehicles can be picked up and dropped off would be operational by the end of the year.The group plans to roll out 1,000 of its custom-built Bluecars by 2020, as well as numerous stations and charging points.The affluent city-state – whose genera

27 September 2017
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No women on the board of these Asian billionaires

Even by Asia’s low standards when it comes to having women on corporate boards, the progress of the region’s billionaires is lagging: Most of the richest men in China, Japan and South Korea run companies with few, if any, female board members. The situation is particularly extreme among Asia’s biggest tech companies with billionaire founders.

26 September 2017
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Uber reviews Asia dealings amid US criminal probe

Uber Technologies, facing a federal probe into whether it broke laws against overseas bribery, has embarked on a review of its Asia operations and notified US officials about payments made by staff in Indonesia, people with knowledge of the matter said.As the Justice Department looks into a possible criminal case, Uber is working with law firm O’Melveny & Myers to examine records of foreign payments and interview employees, raising questions about why some potentially problematic busi

20 September 2017
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S.Korean cosmetics maker targets Southeast Asian markets

South Korea’s biggest cosmetics maker is revamping its products to suit Muslims and darker-skinned women in Southeast Asia as it tries to make up business lost because of political tensions with China over a missile-defence system.Amorepacific is pushing harder into Indonesia, Singapore, Malaysia, Thailand and Vietnam with a lineup that takes into account skin tones, the region’s humidity and the need for Muslim women to wash their faces five times a day before prayers.

19 September 2017
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An overview of doing business in ASEAN

Southeast Asia is a growing market for business. However, there is still plenty of untapped potential, in terms of both consumer demand and labour markets. With all eyes on the ASEAN (Association of Southeast Asian Nations) member states, business investors are presented with opportunities to generate lucrative returns on their investments within the region.

17 September 2017
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