Asean Business File

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...

  • Indonesia meets IKEA

    JAKARTA -- The world's largest furniture retailer, IKEA, is looking to emerging Asian markets for growth after a prolonged economic slowdown in Europe and has arrived in Indonesia. The iconic Swedish company opened its first store on Wednesday in...

  • SingPost pulling ahead in e-commerce logistics

    SINGAPORE -- Singapore Post is investing 182 million Singapore dollars ($142 million) in an e-commerce logistics hub to meet increasing demand in Asia and to position itself at the fore regionally. With greater Internet penetration and the prolif...

  • Singapore's pension ranked best in Asia; rest of region fares poorly

    SINGAPORE -- Singapore's retirement income system is the most desirable in Asia, according to the latest report by U.S.-based consulting firm Mercer and Australian Centre for Financial Studies. The city-state was ranked 10th out of 25 countries in th...

  • Malaysia's Top Glove adding capacity despite profit slide

    KUALA LUMPUR -- Heavier energy costs and competition have dented profits at Malaysia's Top Glove, the world's largest rubber glove maker. For the business year ended Aug. 31, Top Glove's net profit decreased 8% year on year to 180 million ringgit...

  • Petronas snapping up Central Asian oil and gas assets from Statoil

    KUALA LUMPUR -- Malaysia's state oil firm Petronas is spending $2.25 billion to acquire oil and gas interests in Azerbaijan currently owned by Norway's Statoil. The Norwegian firm told stock exchanges Monday that it has divested its 15.5% partici...

  • Siam Piwat woos Thailand's lost shoppers

    BANGKOK -- Siam Piwat, one of Thailand's top-end shopping mall operators, has teamed up with five prestigious foreign retail chains in a joint membership program for regional shoppers. South Korea's Lotte, Japan's Sapporo Parco, Hong Kong Times S...

  • KFC to open 1st Myanmar outlet next year

    SINGAPORE -- KFC is preparing to open what will be Myanmar's first American fast food restaurant next year. The chain's parent company, Yum! Brands from Louisville, Kentucky, is partnering with Singaporean property giant Yoma Strategic to bring th...