ASEAN Today Briefs – Indonesia to charge Thailand’s PTT Exploration and Production (PTTEP)

Betty Ho, Analyst

ASEAN

[23 Feb] Bank of China is looking at setting up more branches in the Philippines amid the improving bilateral trade and investment relations between Manila and Beijing.

[19 Mar] LifeSREDA.VC, a Singapore-based fintech firm VC with Russian roosts, entered into a strategic partnership with Malaysia Digital Economy Corp. Sdn Bhd to start a fintech fund worth US$20 million.

[19 Mar] Alibaba Group Holding Limited is considering building a regional distribution hub in Malaysia to handle the growing business and presence in ASEAN. Sources said the distribution hub would be part of Malaysia’s Digital Free Trade Zone.

[20 Mar] Bridgestone Corporation is planning to invest about 6.2 billion baht (US$178.73 million) to set up production of aircraft tyres in Thailand. the Board of Investment (BoI) has approved incentives for two aircraft tire plants. Reuters reported that.

[20 Mar]Indonesia to charge Thailand’s PTT Exploration and Production (PTTEP) for environmental damage in the 2009 Montara oil spil.It is estimated that about 30,000 barrels of oil leaked into the Timor Sea in total 74 days. Bangkok Post reported that.

[20 Mar] Singapore will fold a government agency and two technology planning units under the Prime Minister’s Office (PMO). From May 1 onwards, Government Technology Agency (GovTech) and a new Smart Nation and Digital Government Office (SNDGO) – combined from Ministry of Finance, Ministry of Communications and Information (MCI) and Smart Nation Programme Office – will report to a new Smart Nation and Digital Government Group (SNDGG) under the PMO. It is believed to bring some “turbo-charging” to the Smart Nation Project. The Strait Times reported that.

[20 Mar] In Myanmar, hundreds of hardline Buddhists in Rakhine state organised a demonstration on Sunday (March 19) against government plans to give citizenship to Rohingya Muslim. Protest organiser Aung Htay called Rohingya Muslim as “illegal migrants”.

Greater China

[17 Mar] Banks in Beijing including Bank of China, China Everbright Bank, Agriculture Bank of China clarified that house loans are not curbed entirely, but that approvals through the banks will slow down. This is the result of the bank regulator’s measures towards restrictions on total line of credit.

[21 Mar] Chinese HNA Group is buying Manhattan’s 245 Park Ave. for US$2.21 billion, one of the highest prices for a New York skyscraper up to date. If this deal can be finalised, Chinese ownership will go to the heart of midtown Manhattan’s financial core. Bloomberg reported that, citing “two people with knowledge of the negotiations”.

[21 Mar] Chinese big cities including provincial capitals like Guangzhou, Zhengzhou, Changsha, and Shijiazhuang launched a new round of policies such as purchase restrictions to cool property market and deal with the bubble. Reported by the Financial Times.

[21 Mar] China National Cereals, Oils and Foodstuffs Corp (COFCO) and an anonymous China-based company is competing for the strategic stakes in Felda Global Ventures Holdings Bhd (FGV). This piece of news resulted to the active trade of FGV share since early trade yesterday (March 20). The Star Online reported that.