Asean Business File

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 ...

  • McDonald's expanding fast in Ho Chi Minh City

    HANOI -- McDonald's will open its third outlet in Ho Chi Minh City on Aug. 30, just six months after launching its first. After opening its first two restaurants, McDonald's was expected to shift its attention to northern Vietnam. But the latest ...

  • Ichitan teas up Indonesia

    BANGKOK -- Thailand's tea giant Ichitan Group has chosen Indonesia for its first overseas expansion and will launch two green tea products there with the distinctive sweet flavors that have been so popular in its home market - where sales have lately...

  • Thailand's Charoen considering his second move in Singapore

    SINGAPORE -- Exclusive negotiations are under way to sell a construction company, United Engineers, and a subsidiary to Thai tycoon Charoen Sirivadhanabhakdi, according to Oversea-Chinese Banking Corp. (OCBC). If the deal goes through, it will be...

  • OSIM massages expansion capital

    SINGAPORE -- OSIM International, a Singapore-listed company that makes and retails massage chairs among other businesses, has secured investors for 170 million Singapore dollars ($135 million) in five-year convertible bonds. In a statement issued...

  • Malaysia's Axiata April-June net profit tumbles 44%

    KUALA LUMPUR -- The Axiata Group's net profit for the April-June quarter fell 44% year-on-year, to 393 million ringgit ($125 million). The group, which includes cellular service companies in Southeast and South Asia, attributed the decline to lower r...