Asean Business File

Siam Cement to invest $100M, eyes becoming Asean market leader

BANGKOK -- Siam Cement Group, Thailand's largest building materials company, is preparing to invest 3.19 billion baht ($100 million) in its core business, including new mortar plants in Thailand, as part of its efforts to become a market leader in th...

  • Olam International sells dairy plant in Ivory Coast

    SINGAPORE -- Singapore-listed agricultural trader Olam International announced on Monday the sale of a dairy plant in Ivory Coast for around $18.7 million to Dutch dairy company Royal FrieslandCampina. The sale marks an exit from the dairy production...

  • Malaysia to boost rubber glove exports 14% this year

    KUALA LUMPUR -- Malaysia hopes to export 12 billion ringgit ($3.8 billion) worth of rubber gloves in 2014, up 14% from last year, on rising awareness of health care. Lim Kwee Shyan, president of the Malaysian Rubber Glove Manufacturers Associatio...

  • GIC enters housing development in India

    SINGAPORE -- This country's sovereign wealth fund GIC is making a foray into the residential development market in India. It has tied up with Bangalore-based Brigade Group, one of India's leading real estate developers, to jointly invest 15 billion r...

  • Indonesia's Rajawali takes major stake in palm oil producer

    JAKARTA -- Indonesian conglomerate Rajawali Group has obtained a substantial stake in local palm oil producer BW Plantation through the purchase of two investment firms. In a stock exchange filing Monday, BW Plantation said two of its major shareho...

  • Indonesian nickel embargo sends Aneka Tambang south

    JAKARTA -- Shares in Aneka Tambang, Indonesia's largest nickel producer, fell on Monday after the company reported a net loss in the January-June period that deepened in the second quarter, confirming concerns about the impact of a recent ban on ore ...

  • PTT Global Chemical ups controlling stake in specialist French venture

    BANGKOK -- PTT Global Chemical, the petrochemical and refining arm of the giant Thai state enterprise PTT, has increased its stake in Vencorex Holding, a joint venture with Sweden's Perstorp Holding producing chemicals used in polyurethane, from 51 t...

  • Thai AirAsia X to double flights to Tokyo on strong demand

    BANGKOK -- Just after its first flight from Bangkok to Tokyo's Narita International Airport took off on Monday, low-cost carrier Thai AirAsia X revealed plans to double the number of flights on the route to two round trips per day starting next March...

  • AirAsia's Redbox courier service expanding regional foothold

    SINGAPORE -- R Box Asia, the company behind the low-cost courier service "Redbox by AirAsia," is expanding its regional network. It opened an outlet in Singapore on Saturday, the first outside its home in Malaysia to kick off a regional foray. The se...

  • Singapore Girls touch down on F1 grid

    SINGAPORE -- Singapore Airlines (SIA) is sending 50 of its cabin crew in their world-famous sarong kebaya uniforms to add a traditional Asian dimension to the Formula 1 event in September. In its first year as a sponsor of the Singapore Grand Pri...

  • Malaysia Airlines not cutting umbilical cord to government

    KUALA LUMPUR -- Malaysia Airlines is making its fourth attempt to rebuild itself since 2002, again via a public bailout. But some are skeptical the efforts will be any more successful this time around. The airline, which lost two aircraft this ye...

  • Olam International earnings down but profits up 68%

    SINGAPORE -- Singapore-listed agricultural trader Olam International logged a 67.8 % increase in net profit for the year ending in June despite a decline in revenue. The boost was attributed to gains from various divestments and asset revaluations. ...

  • Government throws $1.9B lifesaver to Malaysia Airlines

    KUALA LUMPUR -- The Malaysian state fund Khazanah Nasional is injecting 6 billion ringgit ($1.9 billion) in a bid to bring disaster-struck Malaysia Airlines to profitability by the end of 2017. The lifesaver will be used to delist the airline, tr...

  • Malaysia's IHH Healthcare sees Q2 net profit jump 33%

    KUALA LUMPUR -- IHH Healthcare's net profit for the April-June period surged 33% year-on-year to 209 million ringgit ($66 million). Malaysia's leading hospital management company attributed the performance to greater patient volumes and increased cap...

  • Telkom Indonesia to build Indonesia-U.S. submarine cable

    JAKARTA -- Indonesia's state-owned mobile operator Telekomunikasi Indonesia, or Telkom, is leading a group of international operators to build a submarine cable connecting Indonesia and the U.S. The system will stretch from Manado, a port city in...

  • Malaysia Airlines in financial nosedive

    KUALA LUMPUR -- Malaysia Airlines posted a net loss of 307 million ringgit ($97 million) for the quarter ending June 30 -- marking the national flag-carrier's sixth consecutive quarterly loss and almost doubling the shortfall suffered in the same per...

  • Leading Thai seafood company fishing abroad for acquisitions

    BANGKOK -- Thai Union Frozen Products (TUF), the world's largest canned-tuna manufacturer, is mulling further brand acquisitions overseas having built a strong global presence as an original product supplier. TUF President Thiraphong Chansiri wan...

  • Self-driving vehicles inch closer to Singaporean streets

    SINGAPORE -- Officials in Singapore are getting serious about putting autonomous vehicles on the streets of the city-state. The Ministry of Transport on Wednesday announced the creation of a Committee on Autonomous Road Transport for Singapore, o...

  • Indonesia's Adaro Energy logs 1H profit fall despite higher revenue

    JAKARTA -- Indonesia's second-largest coal producer, Adaro Energy, reported a 32% year-on-year decline in net profit for the January-June period in reaction to a one-time gain on a coal-project acquisition for the same period the previous year. N...

  • Singapore's sovereign wealth fund invests in Taiwan music streamer KKBox

    SINGAPORE -- GIC, Singapore's sovereign wealth fund, has invested $104 million in Taiwanese music-streaming company KKBox, whose major shareholders include Japanese telecommunications company KDDI. The service, which has over 10 million users in ...