Asean Business File

Taiwanese airline confirms 48 dead in Typhoon Matmo crash

TAIPEI -- TransAsia Airways has confirmed 48 people dead in a crash last night on an island off Taiwan. Ten more passengers and five people on the ground were injured, and nine of the surviving passengers remain hospitalized. Local television s...

  • Apple touch panel maker pinched by falling tablet demand

    TAIPEI -- Taiwanese touch panel supplier TPK Holding, a supplier to US consumer goods giant Apple, has suffered significant second quarter drops in revenue and profit year on year due to strong competition and slipping global demand for tablet comput...

  • Philippine companies raising capital with creativity and ease

    MANILA -- International Container Terminal Services (ICSTI) and GT Capital Holdings, two domestic companies on expansion rolls in a burgeoning economy, are breaking new ground raising capital - and feeding strong international demand for Philippine a...

  • Tigerair's losses doubled in latest quarter

    SINGAPORE -- Tiger Airways Holdings, the struggling low cost carrier company 40% owned by Singapore Airlines, has recorded a net loss of 65.2 million Singapore dollars ($52.6 million) for the first quarter of its 2015 financial year ending in June --...

  • Share prices of Malaysia Airlines, AirAsia X climb on merger speculation

    KUALA LUMPUR -- Malaysia Airlines continues to hog the headlines after two of its passenger planes crashed in less than five months. Its share price climbed 2.2% to a high of 0.23 ringgit ($0.07) in early trading Thursday on a local news report that ...

  • Sports car sales slump after tax hike, loan limit in Singapore

    SINGAPORE -- Sales of luxury sports cars have significantly dropped in Singapore, after the government introduced a tax hike for expensive cars as well as car loan restrictions in 2013. The six most popular high-end sports car brands, namely Porsche,...

  • A*STAR collaboration spawns advanced semiconductor project

    SINGAPORE -- Through its Institute of Microelectronics, Singapore's Agency for Science, Technology and Research (A*STAR) and ten top technology companies, including Japan's Panasonic and Nikon, launched a joint semiconductor research project on Wedne...

  • Profits and nonperforming loans both up for Thai banks

    BANGKOK -- The combined net profits of Thailand's top four banks saw an increase of 5% on the year in the first half of 2014, even after the country's economy slowed down amid prolonged political unrest. But nonperforming loans also rose as debt incr...

  • Japanese golf trust tees off in Singapore

    SINGAPORE -- Accordia Golf Trust, a trust fund for investments in Japanese golf courses, had an initial public offering on Monday ahead of listing on the Singapore Exchange on August 1. Singapore is already well established in Asia for its real e...

  • Ascott bullish on serviced apartments in Indonesia and Japan

    SINGAPORE -- Singapore’s Ascott Residence Trust (Ascott Reit), a serviced apartment investment business owned by CapitaLand, views Indonesia as ripe for further investment, chief executive officer Ronald Tay said on Monday. Ascott Reit invests in...

  • Cebu Pacific and Tigerair building strategic alliance

    MANILA -- Cebu Pacific and Tiger Airways, the largest budget airlines in the Philippines and Singapore respectively, have announced an "interline" alliance that will give the two carriers the largest network between the Philippines and the rest of th...

  • OCBC's Wing Hang Bank buy will hurt profitability: Macquarie

    SINGAPORE -- Oversea-Chinese Banking Corp.'s (OCBC) purchase of Wing Hang Bank of Hong Kong could cause "deteriorating profitability" at the Singaporean bank, according to a recent report by investment bank Macquarie, which said OCBC is stuck with hi...

  • United Tractors posts 10% drop in heavy equipment sales

    JAKARTA -- United Tractors, Indonesia's largest listed distributor of heavy equipment, posted a 10% drop in unit sales of Komatsu construction machinery for the first six months of 2014. The exclusive distributor of Komatsu equipment in the count...

  • Bukit Asam stokes coal profits

    JAKARTA -- Bukit Asam, a state-owned coal-mining company in Indonesia, has reported a 33% rise in net profits for the first half of 2014, beating earlier estimates by analysts. One of the country's biggest coal producers, Bukit Asam reported on M...

  • Singaporean yacht builder buys Australian rival

    SINGAPORE -- Grand Banks Yachts, a luxury yacht builder in Singapore dating from 1956 and connected to Malaysian tycoon Lim Kok Thay of the Genting Group, is acquiring an Australian rival company, Palm Beach Motor Yacht, in an ongoing effort to retur...

  • Cartoon Network Amazone opens near Pattaya

    PATTAYA, Thailand -- Cartoon Network could put Thailand on the global theme park map with the soft-opening in late July of its first water park near Pattaya, the kingdom's largest seaside resort. Located on a 14-acre site in the former fishing ...

  • Philippines' Universal Robina buys New Zealand snack firm for $610M

    MANILA -- Universal Robina of the Philippines has purchased New Zealand's largest snack food company in a deal worth 700 million New Zealand dollars ($610 million). The deal, subject to regulatory approval, marks Universal Robina's first move out...

  • Temasek philanthropy fosters public-private projects in Vietnam

    SINGAPORE -- Temasek Foundation, the non-profit arm of Singapore's sovereign wealth fund, Temasek Holdings, is collaborating with the Singapore Cooperation Enterprise, a government unit under the Ministry of Trade and Investment, to help the Vietname...

  • Tycoon revisits Chinese partner for gas exploration in disputed area

    MANILA -- Philippine tycoon Manuel Pangilinan, chairman of Philex Petroleum, is once more approaching China National Oil Offshore with a view to joint exploration of Reed Bank, a disputed area in the South China Sea.Philex Petroleum owns 60.45% of Lo...

  • Singapore companies see sports as ticket to global name recognition

    SINGAPORE -- Big companies in Singapore are sponsoring more sporting events and facilities as a way of increasing their global exposure. StarHub, a telecommunications company, announced Thursday that it will sponsor Singapore Sports Hub, a cluste...