These are the top stories making the front pages of major newspapers from across Southeast Asia today.
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Singapore slowdown may be nearing end, says MAS chief
Singapore’s economy may be a few quarters away from a recovery as the decline in trade and manufacturing this year has not really spread to other sectors, said the head of the Monetary Authority of Singapore (MAS).
The MAS’ baseline view is that “the current cycle should be bottoming out towards the end of the year and into next year”, its managing director Ravi Menon said in an interview. That is based on the assumption that the slump will be largely contained in the trade and manufacturing industries, he said.
Singapore’s export-reliant economy has seen a sharper downturn in the second half of this year amid ongoing tensions between the United States and China, two of its biggest trading partners. Prime Minister Lee Hsien Loong said last week that the city state would be “lucky” to achieve positive growth for the year. – The Straits Times
Freed of 1MDB taint, TRX’s Exchange 106 tower opens its doors
Malaysia’s tallest skyscraper is ready to take in tenants from December, its developer said on Wednesday, looking to move past its links to the 1MDB scandal and focus on making headway in an oversupplied property market.
Exchange 106 is the first project to be completed in the Tun Razak Exchange (TRX), a new financial district in capital Kuala Lumpur that was started by now-defunct state fund 1Malaysia Development Berhad (1MDB), from which about US$4.5 billion was misappropriated according to prosecutors.
The 492-metre (1,614 ft) tower, taller than Malaysia’s Petronas twin towers, came under scrutiny in March last year after the then government of Prime Minister Datuk Seri Najib Razak, who co-founded 1MDB in 2009, bought a 51 percent stake in the project. He acquired the stake just two months before he was ousted in a general election amid popular anger over corruption. – New Straits Times
Thai Airways not at risk of shutting down, says airline president
Thai Airways is not at risk of shutting down and recent news reports about the airline’s situation were “misinterpreted”, its president Sumeth Damrongchaitham insisted on Wednesday. He was responding to media reports about a possible closure during remarks he made to high-ranking airline staff.
He said the remarks were to encourage staff to make an all-out effort to ensure the struggling airline’s rehabilitation plan succeeds. Mr Sumeth said the remarks made during a discussion with executives on Tuesday were “misinterpreted” as meaning the airline faced possible closure.
The discussion took place during a training session at the airline’s headquarters to remind them of the level of competition in the aviation industry. He rejected the possibility of the flag carrier closing down, but admitted having to battle stiff competition, including from low-cost carriers. – Bangkok Post
‘No Susi, no party’: Netizens lament departure of popular minister
Susi Pudjiastuti, one of the most popular members of President Joko “Jokowi” Widodo’s first-term Cabinet, once again rocked the social media world after taking to Twitter on Wednesday to congratulate her successor, signaling the end of her term as maritime affairs and fisheries minister.
Tweeting from her official account, Susi congratulated the new members of Jokowi’s new Indonesia Onward Cabinet, including Gerindra Party politician Edhy Prabowo, who had been assigned to take over her position.
According to a poll by Alvara Research Center released last week, Susi tops a list of favorite ministers in Jokowi’s first-term Cabinet with 91.95 percent of respondents expressing their satisfaction with her performance as maritime affairs and fisheries minister. – The Jakarta Post
DFA denies Duterte ‘unceremoniously ignored’ in Japan
The Department of Foreign Affairs (DFA) denied Thursday speculations that President Rodrigo Duterte was “unceremoniously ignored” during the enthronement ceremony of Emperor Naruhito in Japan, hence, the decision to cut his trip short.
The 74-year-old Duterte earlier clipped his supposed two-day trip to Japan “due to unbearable pain in his spinal column.”
Duterte was scheduled to attend Japan Emperor Naruhito’s banquet Tuesday night, but his daughter, Davao City Mayor Sara Duterte, represented him in the event instead. – The Philippine Daily Inquirer
Hundreds mark anniversary of Paris Peace Agreements in Cambodia
Hundreds of people gathered at Freedom Park yesterday to highlight the importance of the Paris Peace Agreements and their continued relevance for the Kingdom as they celebrated the 28th anniversary of their signing.
The Paris Peace Agreements ended years of civil war in Cambodia on 23 October 1991, when the country’s warring factions signed the treaty along with 18 foreign countries and the United Nations.
The peace treaty paved the way for political settlement and guaranteed Cambodia sovereignty and territorial integrity. It also kickstarted the rehabilitation and reconstruction of the country after decades of conflict. – Khmer Times
Austria agrees to fund Myanmar’s electronic national ID
The government will use an interest-free loan from Austria to implement an electronic national ID card, a senior minister said.
“The Austria government agreed to provide the loan without interest,” said U Thein Swe, Myanmar’s minister of Labour, Immigration and Population. “We are preparing a memorandum of understanding and will submit it to parliament for approval.”
The ministry has already digitised the information of some 1.3 million Myanmar citizens as part of the government’s modernisation process, U Thein Swe told parliament. – Myanmar Times