Markets

Thailand Faces `Tug-of-War' After Next Election, Ex-Premier Says

Thailand faces the risk of discord between appointed senators and elected representatives after its expected return to democracy next year, according to former Prime Minister Abhisit Vejjajiva.Critics say the country’s 20th constitution will lead to an upper chamber that gives appointed soldiers, judges and bureaucrats the power to stifle politicians voted into the House of Representatives.

11 August 2017
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Thailand and Philippines Wants No Part of Asia's Dollar Bond Boom

Over in Asia’s booming dollar-bond market, there are two notable absentees: Thailand and the Philippines.The two countries are missing out on the rush to dollar-denominated debt, instead relying on their domestic fixed-income markets and lending from banks -- something that’s unlikely to change anytime soon.

11 August 2017
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Singapore GDP growth beats forecasts on strong trade rebound

Singapore’s economy posted faster growth in the second quarter than previously estimated by the government as a recovery in global trade helped to buoy manufacturing.Highlights of GDP report Gross domestic product rose a seasonally-adjusted and annualized 2.2 percent in the second quarter from the previous three months, the Ministry of Trade and Industry said on Friday, revising its earlier estimate of 0.4 percent Median estimate of six economists in a Bloomberg survey was for growth of 0.5 p

11 August 2017
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Espenilla holds Philippine rate, raises CPI outlook in debut

Philippine central bank Governor Nestor Espenilla kept interest rates unchanged in his debut policy meeting as head of the bank, while slightly raising forecasts for inflation because of pressure from oil prices.The overnight reverse repurchase rate was left at 3 percent, Bangko Sentral ng Pilipinas said in Manila on Thursday, as predicted by all 17 economists surveyed by Bloomberg.

10 August 2017
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Brokerages get ready as stock-index futures come to Vietnam

Tran Hai Ha, chief executive officer of Vietnam’s MB Securities, is looking forward to the start of derivatives trading in the Southeast Asian nation.Ha, who said his firm has already seen 50 new derivatives accounts opened, said he’s hopeful that figure could rise to 300 by the end of the year.

10 August 2017
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Tokyo stocks flat by noon, eyes on US-NKorea tensions

Tokyo stocks were flat Thursday morning after a sell off the previous day sparked by fears over US-North Korea tensions, while Japanese cosmetic giant Shiseido surged on upbeat earnings.Global markets tumbled Wednesday as US President Donald Trump and North Korean leader Kim Jong-Un ratcheted up their confrontational rhetoric, with the nuclear-armed North rolling out a plan to launch missiles towards the US Pacific territory of Guam.Trump had stunned the world by saying the North faced "

10 August 2017
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Vietnam seeks windfall selling $7 billion brewery in slices

Vietnam’s plan to sell its Saigon Beer Alcohol Beverage Corp. stake in tranches may help the government extract the best price after the brewer’s market value surged to $7 billion.The phased-sale will be one way for the government to get “maximum valuation” for its 90 percent holding in the company, also known as Sabeco, according to Javier Gonzalez Lastra, a London-based analyst at Berenberg.

10 August 2017
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China broadens influence in ASEAN through land and sea investments

China is making massive investments in land and sea links within the Southeast Asia to broaden its influence in the region through economic ties.Sunway University Business School Professor of Economics Prof Dr Yeah Kim Leng said the investments by China is part of its strategy in fulfilling the belt and road initiative (BRI) to increase regional trade and economic cooperation."From the geopolitical point of view, it (China) wanted to gain greater influence in the ASEAN region.

9 August 2017
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AirAsia wins best marketing campaign at ASEAN Tourism Awards

AirAsia has won the best ASEAN marketing campaign at the 30th ASEAN Tourism Association (ASEANTA) Awards for Excellence held at the Borobudur Hotel in Jakarta on Tuesday night, Aug. 8, 2017 for their "Think ASEAN, Think AirAsia" campaign which ran fron 8-14 August 2016 commemorating with ASEAN Day.

9 August 2017
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Malaysia weighs dual-class shares as exchanges battle for IPOs

Bursa Malaysia Bhd said it’s considering whether to allow companies with dual-class share structures.If the bourse operator goes ahead, it would be the third Asian jurisdiction -- after Singapore and Hong Kong -- to take a close look at the contentious issue, opening another front in the battle over shareholder rights. The structures give company founders and leaders outsized powers that are seen by investor advocates as undermining the one share, one vote system of corporate governance.

8 August 2017
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WeWork to pump $500 million into Southeast Asia, South Korea

WeWork Cos., the world’s largest provider of shared work spaces, will invest $500 million in Southeast Asia and South Korea, as the New York-based company steps up its expansion in global markets.As part of the effort, WeWork will acquire Spacemob, a Singapore-based co-working startup founded in early 2016 by entrepreneur Turochas “T” Fuad and backed by Vertex Ventures and Alpha JWC Ventures.

7 August 2017
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