Asean Business File

Foxconn considering display panel plant in China

TAIPEI -- Foxconn Technology Group, a major assembler for U.S. consumer tech giant Apple, is reviewing its investment plans following a report that it is in preliminary talks about building a display panel facility in Zhengzhou in central China's Hen...

  • Malaysian taxi app grabs $90 million

    SINGAPORE -- GrabTaxi, a taxi booking app operator of Malaysian origin, has received a round of investment led by U.S. investment firm Tiger Global Management believed to be worth around $65 million dollars - bringing the total it has raised this yea...

  • SAP setting up new base for innovation in Singapore

    SINGAPORE -- German software giant SAP announced Friday that it will open a new research-and-development center in Singapore. Through partnerships with client companies as well as universities, the SAP Innovation Center will pursue products and s...

  • SingTel allies with SoftBank for Japanese business

    SINGAPORE -- Singapore Telecommunications (SingTel) has linked up with SoftBank Telecom to expand business with Japanese corporations based in Singapore. SoftBank will act as a one-stop agent for SingTel services that range from basic telecoms to...

  • Ascott in Quest for Australian strategic partner

    SINGAPORE -- The Ascott Limited has taken a 20% strategic stake in Australian serviced apartment operator Quest for 28.8 million Australian dollars ($25.4 million), with an option for up to 30%. Ascott, the world's largest serviced residence owne...

  • Indonesian coal-related companies dig into new businesses

    JAKARTA -- A prolonged decline in coal prices is spurring Indonesian industry players to buy their way into new fields. Indonesia, the world's largest exporter of thermal coal, has seen shipments fall this year due to weak demand from China -- it...

  • Universal Robina expanding beverage line via Danone joint venture

    MANILA -- Universal Robina is forming a joint venture with Danone Asia Holdings as the Philippine company moves to expand its beverage portfolio. The joint venture firm, which will be named Danone Universal Robina Beverages, will be equally owned...

  • Aquino mulls fresh tender on $790 million road project

    MANILA -- The Philippine government is likely to re-launch a 35.4 billion peso ($790 million) public-private partnership project that has pitted two influential business groups against each other. "So how do we meet ... the goal of getting the be...

  • Low volatility dampens Singapore Exchange results

    SINGAPORE -- Singapore Exchange (SGX) saw net profit fall 16% year on year to 78 million Singapore dollars ($62.4 million) in its first quarter ending Sept. 30, while revenue fell 8% to S$169 million. Although the SGX derivatives market saw growt...

  • Japan's Takashimaya teams with Iconsiam in Thai retail push

    BANGKOK -- Japanese department store operator Takashimaya will open its first outlet in Thailand in 2017 as the core tenant of Icon Siam, a huge shopping and residential complex being developed along the Chao Phraya River in Bangkok. Takashimaya...

  • Danang targets elderly Japanese tourists

    HO CHI MINH CITY -- Local authorities in Danang, a major port in central Vietnam and the country's third most important economic hub, have earmarked a 10 hectare site for development as a resort for older Japanese people. Tran Chi Cuong, deputy d...

  • CIMB to buy stake in Indonesian 7-Eleven operator

    JAKARTA/KUALA LUMPUR -- Malaysian bank CIMB Group agreed Monday to buy a 10% stake in Indonesia's Modern Internasional, parent company of the operator of 7-Eleven convenience stores in Indonesia. CIMB Private Equity, a wholly owned investment ar...

  • Keppel Land boosts office space in Jakarta

    SINGAPORE -- Keppel Land, the Singaporean real estate developer, is boosting the office space it handles in Jakarta. The company announced Sunday it will inject some 266.4 million Singapore dollars ($213 million) to redevelop an existing 18-store...

  • Tigerair divests Australian arm

    SINGAPORE -- Tiger Airways Holdings, the operator of Singaporean budget airline Tigerair, is hungry for more cash as losses mount. The company announced Friday it will divest its remaining 40% stake in Tigerair Australia to Virgin Australia. It a...

  • Malaysia's Astro to launch Asian documentary channel

    KUALA LUMPUR -- Pay-TV operator Astro Malaysia is launching documentary channel, Spark Asia with content focused on the region. The new channel, which will look at subjects such as science and technology, history and the environment, will be prod...

  • H&M moves into Manila

    MANILA -- Swedish fast fashion retailer H&M on Friday opened its first shop in the Philippines. The store opened in SM Megamall, one of the biggest shopping centers in Metropolitan Manila. The shop occupies three floors with 3,000 sq. meters of r...

  • Singapore Press reports advertising, circulation drops

    SINGAPORE -- Singapore Press Holdings, the city-state's top newspaper publisher, posted a net profit of 404 million Singapore dollars ($317 million) for the year ending in August, a net decline of 6.2% from the previous year. The weaker result wa...

  • Fujitsu, Singapore team up to make urban centers, ports hum

    SINGAPORE -- Fujitsu, the Japanese information technology company, on Wednesday launched a new research institute in Singapore, in collaboration with Singapore's Agency for Science, Technology and Research, commonly known as Astar, and Singapore Mana...

  • Thailand's PTT beefing up LNG terminal network

    BANGKOK -- Thailand's state-owned oil company PTT will build its third liquefied natural gas terminal as it steps up procurement from abroad amid growing power consumption at home. The company's capacity to receive LNG will triple once the new fa...

  • Thai airports in search of a president

    BANGKOK -- Airports of Thailand (AOT), which operates Bangkok's international airports as well as Thailand's larger domestic facilities, needs a new president who must be a Thai not older than 58 with a bachelors degree. AOT's former president, M...