ASEAN News Summary

Thai high-speed rail
The Thai government could join with the Chinese government to build the country’s first high-speed rail network, Finance Minister Korn Chatikavanij says..

• Thai Union buys MW Brands
Thai Union Frozen Plc has purchased French canned seafood firm MW Brands Holdings SAS in a deal worth 28.5 billion baht (680 million euros), the Thai Union board announced on Wednesday and reported to the Bangkok Post.

• Singapore PM Lee calls for more productivity
Prime Minister Lee Hsien Loong said there’s a need for wage flexibility even as Singapore’s economy is projected to hit record growth this year, Channel News Asia reports.

• Philippines may chop government companies
The government is looking at abolishing government-owned and controlled corporations (GOCCs) and Government Financial Institutions (GFIs) that are not only obsolete but are also incurring ballooning liabilities, the Manila Times reports.

• Philippine industrial activity slows
Industrial activity in the Philippines may have slowed in May, as factory output and electronics imports eased, according to two separate reports of the National Statistics Office (NSO).

• Indonesian SMEs confident
Most Indonesian small and medium enterprises (SMEs) expect the country’s economy to grow strongly in the second half of the year, and are therefore willing to up spending, increase their workforce and expand their businesses, a survey shows, as the Jakarta Post reports.

• Phnom Penh port expands
PHNOM Penh Autonomous Port is to quadruple its loading capacity in the next two years after securing US$68 million worth of Chinese financing for a second terminal 25 kilometres east of the capital, with construction slated to begin in September, the Phnom Penh Post reports.

• Malaysia subsidies demanded
Malaysia opposition and rights groups on Wednesday issued an ultimatum to the government to reverse a recent fuel price hike by December or face a mass street protest.

Get the best in ASEAN News www.aseanaffairs.com

THE HOT LIST

Hurricane Earl Hot List BUGS, FUEL, BCON, GV, Cat Bonds