Asean Business File

Thailand's first REIT makes quiet bourse debut

BANGKOK -- Impact Growth REIT, Thailand's first real estate investment trust (REIT), made a quiet debut on the Stock Exchange of Thailand (SET) on Wednesday with shares moving in a narrow range throughout the day before closing at 10.5 baht -- slight...

  • Singapore developer acquires land in Tokyo ahead of Olympics

    SINGAPORE -- Singapore-listed real estate developer City Developments is expanding its footprint in Japan. Through a special purpose company set up with a U.S.-based investment firm, the company has acquired a freehold land site in Tokyo for 30.5 bil...

  • Sime Darby abandons Papua New Guinea palm oil deal

    KUALA LUMPUR -- Malaysian conglomerate Sime Darby has walked away from talks to acquire a 49% stake in New Britain Palm Oil, Papua New Guinea's leading palm oil producer. Sime Darby told the stock exchange on Tuesday that it will not proceed with...

  • Indonesia's XL Axiata selling telecom towers to slash debt

    JAKARTA -- XL Axiata, Indonesia's second-largest wireless carrier, said it is selling 3,500 telecommunications towers to pay off debt. The infrastructure is to be sold to Solusi Tunas Pratama, which specializes in operating such towers, for 5.6 t...

  • Foreign investors shrug off Vietnam's anti-China riots

    HANOI -- Riots that killed four Chinese workers and damaged hundreds of factories in May have slowed Vietnam's economic growth and shaken Chinese and Taiwanese businesses. But overall, foreign investors remain confident in the country's growth potent...

  • Thailand's Dtac rolling out 4G despite auction delay

    BANGKOK -- Thailand's second largest mobile service provider, Total Access Communications (Dtac), plans to spend 10 billion baht ($309 million) to expand network coverage for third and fourth generation (3G and 4G) services in Bangkok and beyond by t...

  • SingTel partners Akamai on cyber security

    SINGAPORE -- Singapore Telecommunications (SingTel) is going into partnership with Akamai Technologies, a Massachusetts-based cloud-computing company, to offer cyber security solutions to companies in Asia-Pacific. The partnership aims to help en...

  • Telkom Indonesia bringing remittance service to Alfamart convenience stores

    JAKARTA -- Indonesia's largest cellphone carrier, Telekomunikasi Indonesia, has teamed up with the operator of the nation's Alfamart convenience store chain to offer mobile remittances. Telkom Indonesia, as the company is known, and Sumber Alfari...

  • Singapore's OCBC has app that appeals to tech-savvy new account holders

    SINGAPORE - Oversea-Chinese Banking Corporation (OCBC), Singapore's second-largest bank by assets, is attracting new account holders through a mobile application that lets people open accounts without visiting a branch. The OCBC Open Account app ...

  • Sumitomo shopping website goes live in Malaysia

    KUALA LUMPUR -- A new website launched by a Japanese trading house is beckoning Malaysia's online shopaholics. Sumisho Ecommerce Malaysia, a subsidiary of Sumitomo Corp., set up Soukai.my in an effort to tap the Southeast Asian country's promisin...

  • Singha's backdoor real estate listing

    BANGKOK -- After its successful backdoor listing on the Stock Exchange of Thailand on Friday, Singha Estate, the real estate arm of Singha beer brewer Boon Rawd Brewery, extended its gains on Monday, closing nearly 26% up at 11.20 baht with the fourt...

  • Indonesia's Telkom buys Australian call center provider for US$10M

    JAKARTA -- Indonesia's largest mobile phone operator, Telekomunikasi Indonesia, has acquired Australian call center operator Contact Centres Australia for 11 million Australian dollars ($10 million). Telkom, as the state-owned company is also kno...

  • Three more auto plants in India for Magna International

    NEW DELHI -- Canadian autoparts giant Magna International has announced two new plants for the Sanand region of India's Gujarat state to fabricate seating, body and chassis systems. Magna also announced a 50:50 joint venture with Tata AutoComp in...

  • PLDT rolls out free mobile Web surfing to spur data usage

    MANILA -- Philippine Long Distance Telephone is allowing its mobile subscribers to surf the Internet for free in its latest effort to win subscribers and drive growth. The promo will be available from Friday until Nov. 30, and each subscriber is ...

  • Tigerair Taiwan enters busy LCC market in Asia

    SINGAPORE -- Taiwan's first low cost carrier made its inaugural flight on Friday. Tigerair Taiwan, the LCC subsidiary of Taiwan's China Airlines, began operations between Taipei's Taoyuan International Airport and Singapore's Changi Airport. With ano...

  • Malaysia's SapuraKencana logs 8.6% quarterly net profit gain

    KUALA LUMPUR -- Leading Malaysian oil and gas company SapuraKencana's net profit jumped 8.6% on the year in the quarter through July, with its drilling division serving as a strong revenue contributor. The quarterly profit came to 445 million rin...

  • BW Plantation's rights issue second highest ever

    JAKARTA -- Indonesia's BW Plantation has announced plans to raise up to 11.1 trillion rupiah ($880 million) in a rights issue that will make the Indonesian conglomerate Rajawali Group of tycoon Peter Sondakh the top shareholder in the palm oil produc...

  • Siam Piwat taking retail therapy to new heights

    BANGKOK -- Siam Piwat, one of Thailand ‘s top mall operators, has unveiled ambitious expansion plans for the next five years that involve investment of up to 55 billion baht ($1.7 billion). With the country’s retail sector continuing to experi...

  • Maruti Suzuki yet to fix date for minority shareholders' voting on Gujarat plant

    NEW DELHI -- Automotive industry leader Maruti Suzuki India has yet to announce a date for minority shareholders to vote on a plan for its Japanese parent company, Suzuki Motor, to establish a manufacturing subsidiary in Gujarat. Suzuki Motor rev...

  • Asia's 1st gold vending machines for Singapore casinos

    SINGAPORE -- Visitors to casinos in Singapore can now convert their winnings into gold on the spot thanks to newly installed vending machines that dispense the precious metal. Singapore-based company Asia Gold ATM on Wednesday introduced the SMAR...