Economy and commerce
MMC's net profit up 7.4% in first quarter
MMC Corp., a Malaysian diversified infrastructure and utilities conglomerate, said on Monday that net profit improved 7.4% year on year to 55 million ringgit ($13 million) in the first quarter of the year due to growth in its power generation unit. Revenue in the same ...
Thailand's Dtac to offer 4G network with state firm
Thailand’s Total Access Communication, commonly known as Dtac, will join with state-owned telecom operator TOT to offer 4G wireless network services. Dtac will pay 4.51 billion baht ($132 million) annually to access 60% of TOT’s 2,300MHz spectrum, setting up 20,000 cell towers. The remaining 40% ...
Samsung to pour $9bn into Chinese flash memory plant
Samsung Electronics will spend around 10 trillion won ($8.91 billion) to double capacity at a cutting-edge memory chip plant in China by 2019, aiming to solidify its position at the top as the sale of rival Toshiba’s memory operations drags on. The South Korean giant ...
Thailand to take on Singapore with $5.7 billion airport overhaul
Thailand is seeking to take on Singapore’s dominance in aircraft maintenance, repair and overhaul with a $5.7 billion upgrade of a Vietnam War-era airport. Lockheed Martin Corp.’s Sikorsky Aircraft is the latest company to study a possible increase in MRO spend in Thailand in the wake ...
Yokohama Rubber to rev up Chinese capacity by nearly 50%
Yokohama Rubber will ramp up its tire output capability in China as it seeks to boost business with local automakers. The Japanese manufacturer will bolster its production capacity for passenger-car tires in China to 13.6 million units a year by 2020, up nearly 50% from 9.35 million units in ...
Geely underlines global ambitions in wake of Proton deal
Top management of the listed arm of Zhejiang Geely Holding said they hope to turn the carmaker into a global player, just a day after its parent company announced a deal to acquire a 49.9% stake in Malaysia’s struggling Proton Holdings. Gui Shengyue, chief executive ...
Investors shrug off terror attacks in Southeast Asia, for now
Investors in Asia have shrugged off terror attacks in Indonesia and the Philippines this week, but authorities are struggling to prevent further attacks and protect soft targets. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1% on Thursday, and the Philippine Stock Exchange index ...
Booming Southeast Asian vehicle sales drive urban congestion
Vehicle sales in Southeast Asia are set to outpace all other regions of the world during 2017, according to industry research, highlighting surging economic expansion in some parts of the region. But the growing number of new cars and trucks in urban centers is likely ...
'TPP 11' are working to save the trade deal, but members remain far apart
The remaining members of the Trans-Pacific Partnership trade deal showed at least some level of unity in a statement May 21, but the outlook for a “TPP 11” version of the trade pact after the U.S. bailed on the deal looks hazy as gaps remain ...
Laos, Thailand agree on master plan
Thailand and Laos have agreed to draw up a a five-year master plan to double the value of bilateral trade and investment to US$10 billion (Bt344 billion) by 2021. Deputy Prime Minister Somkid Jatusripitak announced the deal on May 24 after an official meeting with Laotian Deputy ...
