Latest Southeast Asia News
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Analysis Floods fail to dampen confidence
The KADIN-Roy Morgan Consumer Confidence index rose sharply to 155.6 in April, up 3.7 points from the previous month. The index now stands a massive 16 points higher compared to a year ago in April 2012 when it registered 139.6.April's rise was driven primarily by increasing confidence in regards to the purchasing of major household items as well as increasing confidence in the Indonesian ...
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Sritex seeks 41 rise in net profits on ‘good looking’ China
Paper Edition | Page: 13 Southeast Asia's largest textile company, PT Sri Rejeki Isman (Sritex), is aiming to increase its net profits by 41 percent with more orders from China.The publicly listed company, which is working on its plan for an initial public offering (IPO), is estimating that its net profits will stand handsomely at Rp 325 billion (US$33 million) by year's end.The ...
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Pertamina pushes subsidiaries to go public
Paper Edition | Page: 13 In a bid to speed up the growth of its subsidiaries, state energy firm PT Pertamina said it would push its secondary companies to float shares on the local stock exchange.Pertamina's board of commissioners head, Sugiharto, confirmed the policy, saying it was aimed at making those companies more independent."One of the ways to encourage these subsidiaries to be ...
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Indonesia arrests Iranian-born Australian over people smuggling
SYDNEY (AFP) - Indonesian authorities have arrested an Iranian-born Australian resident who they suspect headed a people smuggling network that spanned the country, a report said on Tuesday. Mr Mohammad Abdi, 36, was detained at an apartment in Jakarta on Monday along with two other Iranians, The Australian newspaper said, citing Indonesian police. "Right now we think he's a big ...
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Obama meets visiting Myanmar president
US President Barack Obama on Monday lauded Myanmar's efforts made over the past two years in holding elections and in solving the country's longstanding ethnic conflicts.Obama made the statement at a press conference following his talks with visiting Myanmar President Thein Sein at his Oval Office. Thein Sein was the first president of Myanmar to visit the White House in 47 years.Obama ...
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14 dead 14 missing in Indonesia mine tunnel collapse
At least 14 people are dead, 14 are still missing and 10 have been rescued after a tunnel collapsed last Tuesday at an underground mine training facility in ...
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Portuguese firms to tap into Indonesias business potentials
Following in the steps of its European neighbors, dozens of Portuguese firms are visiting Indonesia to seek business partnerships and explore untapped local business opportunities. The delegation, touted to be the biggest Portuguese business mission to the country, highlighted its new interest in Indonesia, predicted to be among the world's 10th biggest economies within the next decade, ...
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Indonesia nabs Iranian big fish Abdi over human smuggling
(46 mins ago) Indonesian authorities have arrested an Iranian-born Australian resident who they suspect headed a people-smuggling network that spanned the country, a report said. Mohammad Abdi, 36, was detained at an apartment in Jakarta yesterday along with two other Iranians, The Australian newspaper said, citing Indonesian police. ';Right now we think he's a big ...
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STOCKS NEWS SINGAPORE-SingTel dips on broker downgrade
OCBC cut its rating on the sector. "In the search for yield, telco stocks have done very well, rising some 14 percent to 26 percent year to date, versus the STI's 9 percent climb," OCBC said in a report. "However, given the still-muted outlook, we believe that the share prices have run up too much, too quickly, and this has driven yields down to below 5 ...
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Bangladeshi police attack garment workers’ protest
, Karl Johan Persson, the CEO of the Hennes & Mauritz (H&M), said that the company is looking for locations in Central and South America or in Africa. The Hasina government faces a massive political crisis as working class opposition deepens. It is desperately trying to deflect discontent among workers and maintain cheap labour conditions. About 3.7 million workers, mostly young women, ...
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Detained Chinese Fishermen Boat Released by North Korea
The official Xinhua news agency reported the development Tuesday, quoting a Chinese consular official in Pyongyang who spoke with the owner of the fishing boat. The official said the men were safe and on their way home, but he gave no other details. The owner of the boat says North Korea was demanding nearly $100,000 for the return of the boat and crew, which were taken May 6 in the waters ...
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Death toll rises to 21 in Indonesian mine collapse
TIMIKA, Indonesia (AFP) - The death toll from a mine tunnel collapse in eastern Indonesia has risen to 21, the US operator said Tuesday, as rescuers searched for another seven workers now also presumed dead.The accident happened on May 14 at Freeport-McMoRan's Grasberg, one of the world's biggest gold and copper mines in mountainous, remote Papua province, and 10 workers were rescued ...
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Wismilak to benefit from holidays
Paper Edition | Page: 13 Cigarette producer PT Wismilak Inti Makmur (WIIM) is expecting to book Rp 1.6 trillion (US$163.2 million) in net sales this year, with festive holidays in the second half of the year likely to see an increase in consumption, the company said recently.Wismilak spokesperson Surjanto Yasaputra said that second half-year sales normally accounted for 55 percent of sales for ...
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Indonesia inflation may accelerate to 7 pct if govt hikes fuel prices
JAKARTA | Tue May 21, 2013 12:53am EDT JAKARTA May 21 (Reuters) - Indonesia could see the inflation rate accelerating to 7 percent this year if the government raises fuel prices in Southeast Asia's largest economy, the new finance minister said on Tuesday. At the end of 2012, the annual inflation rate was 4.3 percent. Muhamad Chatib Basri was sworn in as minister on Tuesday. Many ...
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Thai stocks nearly flat laggard energy shares outperform
BANGKOK, May 21 (Reuters) - Thailand's main SET index was nearly unchanged at 1,643.87, a near 19-1/2 year high, at 0440 GMT amid selling in recent gainers such as telecoms and banks, but strong oil prices lured buyers to laggard energy shares. Selective buying in large-cap energy stocks such as PTT Pcl and PTT Global Chemical Pcl would help underpin market sentiment, analyst Kasamapon ...
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Singapore firms need to be globally competitive IE Singapore
trade as the backbone of its small, resource-scarce economy. But the cross-border exchange of goods and services in modern-day Singapore has come a long way from its humble origins. ...
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Indonesia mogul ready to discuss deal on Intrepid project -letter
MELBOURNE | Tue May 21, 2013 12:50am EDT MELBOURNE May 21 (Reuters) - An Indonesian tycoon who owns a big stake in a huge copper and gold prospect taken from Australia's Intrepid Mines last year is willing to resolve the ownership dispute, he said in a letter to an investor looking to oust the company's board. The dispute is over the Tujuh Bukit project, potentially holding 30 ...
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Gap stance on Bangladesh draws protest
"I own Gap clothing and I don't think it's acceptable that this is the cost," Mandavilli said. Protesters like Mandavilli are being galvanized into action by labor and socially conscious groups in the wake of the deadly ...
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Why Im protesting against Gap over Bangladesh
"I own Gap clothing and I don't think it's acceptable that this is the cost," Mandavilli said. Protesters like Mandavilli are being galvanized into action by labor and socially conscious groups in the wake of the deadly ...
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Nawaz Sharif calls Pakistani Taliban for peace talks
Pakistan's presumptive prime minister Nawaz Sharif called for peace talks with Taliban militants at war with the government on Monday, potentially charting a course that could put him at odds with the country's powerful army.Nawaz Sharif said 'terrorism' was one of the most serious problems plaguing the country and any offer by the Pakistani Taliban to talk 'should be ...
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Obama welcomes president of ‘Myanmar’ with cautionary reminder
WASHINGTON - President Barack Obama on Monday welcomed Myanmar’s president to the White House — the first such visit in nearly 50 years — and hailed the Southeast Asian nation’s progress on democratic reforms, but emphasized that much work remains to be done. After meeting privately with President Thein Sein in the Oval Office, Obama told reporters that Myanmar must ...
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STOCKS NEWS SINGAPORE-Keppel REIT falls after parent firm trims stake
stake in the trust for S$280 million ($223 million). The price fall came after Keppel REIT marched to a 5-1/2-year high of S$1.63 last week, rallying more than 20 percent so far this year and outperforming a 13 percent rise in the sector index. An analyst at a foreign brokerage said the uncertainty of a new shareholder and concerns about further stake sales by Keppel Corp weighed on ...
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US concerned over Philippines killing of Taiwanese fisherman
WASHINGTON, May 15 (Xinhua) -- The United States on Wednesday expressed concern about the increasing tensions between the Philippines and China's Taiwan following last week's fatal shooting of a Taiwanese fisherman by the Philippine Coast Guard. At a news briefing, the State Department's acting deputy spokesman Patric Ventrell also urged the two sides to take "all ...
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South Sudan Army Recaptures Boma Officials
BOR, SOUTH SUDAN -- The South Sudanese Army (SPLA) has recaptured the town of Boma in Jonglei state after a brief battle with rebels led by David Yau Yau, SPLA officials said Monday. "The SPLA yesterday restored law and order to Boma and chased away the militia from Boma town," army spokesman Philip Aguer said. Four SPLA soldiers died in the fighting and 12 were wounded, Aguer ...
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In search of a comprehensive solution for Papua
Paper Edition | Page: 5 Local newspaper Media Indonesia (April 30) quoted newly elected Papua Governor Lukas Enembe as saying that in August, President Susilo Bambang Yudhoyono (SBY) would visit the province "to give a present to society in Papua, in the form of a new law on special autonomy called Otsus Plus". Referring to the work of anthropologist Marcel Mauss (1954), SBY's ...
Myanmar Focus
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Foreign couple's novel approach to helping Burmese village
The political situation in Myanmar is well-known throughout the world, but often overshadows the circumstances of local people and our rich culture. A couple overseas have combined the two to create an unusual approach to helping the people of one village in the country.
Myanmar is one of the most politically and socially isolated countries in the world, much bad press is leveled at our country for decisions made and actions taken that the people are not responsible for and while attention focuses on the political dynamic of the country, the plight of many Burmese such as poverty, lack of access to water and education, become overshadowed. One family in the United States has taken a novel approach to giving back to a country that has stolen their hearts. Read more
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