AI will create a MADE-TO-ORDER FEATURE

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AI will create a MADE-TO-ORDER FEATURE

Tech May 20, 2018 19:02

By   SOMLUCK SRIMALEE
The Nation
Milan, Italy

4,574 Viewed

AS ARTIFICIAL intelligence (IT) technology improves, it will free people to learn what they want so that they can change their lives to do what they want, according to an industry leader.

“Technology will provide all that people need, and will especially meet the different demands of different customers,” said John Zealley, Accenture Group’s senior managing director and global lead for consumer goods and services. “AI will learn the personal needs of each person and design things that match their unique demands rather than mass products.” Zealley spoke on May 14 after celebrating the first-year anniversary of the Accenture Customer Innovation Network (ACIN) in Milan, Italy.

Driving innovation is the guiding philosophy of the ACIN, and draws on Accenture’s deep industry experience in fashion, retail and consumer goods industries. The network provides clients with access to an innovation ecosystem that includes start-ups, industry experts, universities and technology partners.

ACIN provides a glimpse of what many tech experts predict will be the future for all of consumer goods industries, including fashion, retail, and automobiles as AI, digital, and other technologies are integrated to analyse and share information in the service of personal demand. The integration of new technologies will challenge all industries sectors to change their approach from mass production to tailor-made marketing, said Zealley.

For example, as the smart-home concept evolves, houses will be designed to accumulate data on the behaviour and preferences of their inhabitants through devices including smart mirrors, smart TVs, Google Voice devices, smart washing machines, and so on.

Homeowners can now use Google Voice to remind them of their daily schedule. It can also link with other platforms to serve the homeowner’s needs, such as a requests for recipes for tonight’s dinner. A smart fridge can let the owner know what groceries are missing for tonight’s planned dinner. Such data could be linked to the systems of retailers, placing a smart order and having the food delivered to the doorstep.

Those planning a party with friends, could reserve seats at the bar or restaurant online, create the theme of an event, and invite the friends through an online network. Bars or restaurants would receive the reservation information, including the purpose of the visit, and prepare gifts and other treats such as a birthday cake to personalise the experience.

Accenture now helps its fashion-industry customers on their journey to stay up-do-date based on research into market trends and customers trends, drawing on AI technology to learn personal preferences of customers as they plan to meet, party or work.

For example, when planning a dinner with a customer, Google Voice and a smart mirror could be asked to suggest grooming styles, an outfit that matches the weather at the destination or what brands to purchase.

Google Voice can serve as a personal stylist. It can find slots of free time in your calendar, book needed services and suggest airlines and shopping opportunities.

The key for a company is to in the consumers’ presence and part of their lives in all the moments that they have a need to fulfil.

Montenapoleone Association has createdn event calendar and offers customers the personalised experience that other consumers cannot access. They have created an app that sends special promotions and services to customers as they walk down the street. Digital information on the customer helps the store prepare in advance of the customer even enters the store, enabling sales assistants to offer just the right products and special offers. They can pre-order the customer’s size and ensure they have the stock ready.

Client can also customise the colour and material of products.

And the store can pull together in one single view the data on sales, orders, products and inventory to run a better operation.

Through gamification, AI technology also can provide an advance experience for someone shopping for a car, allowing them to get familiar with brands, configurations, and in-car functions. They can share their experience on social media with friends and other users.

Car brands can use car configuration simulations via augmented reality, another digital technology that enables customers to try out their products without having to have a large inventory of car models at the showroom.

Advanced technology is changing how close a company can get to understanding the lifestyles of individual customers and their expectations of service. We’re on the brink of widespread use of technology that makes it possible to quickly deliver products and service, when customers want, where they want and how they want.

This link between technology and people’s individual lifestyles will help make their lives easier and more convenient, Zealley said.

And getting to that point will require all product brands to change their business model by using technology to ensure their brand is always in the minds of their customers to create brand loyalty for the long term, he said.

Liverpool hoping experience not everything in final against Real

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Liverpool's German manager Jurgen Klopp (L,down) gives instructions to his players during a Liverpool team training session at the Olympic Stadium in Kiev, Ukraine on May 25, 2018.
Liverpool’s German manager Jurgen Klopp (L,down) gives instructions to his players during a Liverpool team training session at the Olympic Stadium in Kiev, Ukraine on May 25, 2018.

Liverpool hoping experience not everything in final against Real

sports May 26, 2018 09:37

By AFP

Liverpool will attempt to end Cristiano Ronaldo and Real Madrid’s recent dominance in the Champions League when the sides meet in Saturday’s final in Kiev, with Reds manager Jurgen Klopp insisting experience is not everything.

The goals of Mohamed Salah have helped the English side reach their first final in 11 years, but this has been a golden era in Europe for Real.

The Spanish giants are targeting their fourth Champions League title in five years and their third in a row in the game, which kicks off at 1845 GMT.

The last team to win three in a row was Bayern Munich over 40 years ago.

None of Klopp’s players have appeared in a Champions League final before.

“Experience is important. I’m pretty sure that in the seconds before the game Real will be more confident than we are, but that’s not important because the game doesn’t end in that moment, it only starts,” said Klopp, who lost the 2013 final with Borussia Dortmund.

Real’s 12 European Cup wins puts them way ahead of the rest, but Liverpool have lifted the trophy five times, most recently in 2005, against AC Milan in Istanbul.

The Reds have also enjoyed a memorable continental campaign, scoring a tournament record 46 goals and beating Manchester City and Roma en route to the Ukrainian capital.

Zidane’s side have beaten Paris Saint-Germain, Juventus and Bayern — this season’s French, Italian and German champions — in the knockout rounds, but Klopp still believes his team can upset the odds at the Olympic Stadium.

“You analyse Real Madrid playing in other games against other teams and you think ‘wow, they are really strong’, but they never played us.

“We are Liverpool and we are not just a good team. This club has in its DNA that we can really go for the big things. Nobody expected us to be here but we are here because we are Liverpool.”

 

– Salah’s ‘fantastic potential’ –

 

Klopp agreed that his job in the build-up has mainly involved taking the pressure off his players, and that meant playing down suggestions that this was Salah’s chance to break up Lionel Messi and Ronaldo’s grip on the Ballon d’Or.

“It’s not important in the moment, no manager is interested in that. I’m interested in performing.

“Lionel Messi and Ronaldo deserve all the praise they have had in the past because they were constantly all those years on that level.

“If Mo can go there we will see in the next years. He he has fantastic potential. This season was exceptional, unbelievable so far.”

Salah has scored 44 goals in his first season at the club. As a Muslim, he has observed Ramadan since May 16, but Klopp refused to discuss whether the Egyptian would fast during daylight hours before the final.

“Religion is private, that is how I understand it, so nothing to say about that,” he stated.

 

– Ronaldo targets new landmark –

 

Meanwhile, Ronaldo could win his fifth Champions League, a landmark reached by only four players before now.

The Portuguese star has found the net 41 times this season, and his coach is confident he will be at his very best again.

“He’s fine. You have to know something, he lives for games like this,” said Zinedine Zidane, who can become the first coach to win three consecutive Champions League titles.

The only doubt in the Real starting line-up surrounds which one of Isco or Gareth Bale will start in support of Ronaldo and Karim Benzema up front.

“We have beaten the biggest team in each league — Juve, PSG and Bayern — to get here. It has been a difficult path and now we need to finish the job,” said Real skipper Sergio Ramos.

The path to Kiev has also been difficult for fans, due to the exorbitant cost of flights and hotel rooms.

Around 1,000 Real fans handed back tickets, while a number of Liverpool supporters’ flights have been cancelled due to insufficient landing space at Kiev’s Boryspil Airport.

Those who have made it after often arduous journeys will be hoping for an unforgettable occasion.

Thai ace Kiradech keen to prove a point for Asian golf

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Thai ace Kiradech keen to prove a point for Asian golf

sports May 26, 2018 07:41

By AFP

Thailand’s Kiradech Aphibarnrat says he wants to prove that Asian golfers can mix it with their European rivals as he hunts down the frontrunners at the top of the PGA Championship leaderboard.

The well-built 28-year-old shot a fine three-under-par 69 on Friday to add to his first-round 68 and lies five shots off clubhouse leader Rory McIlroy at the midway point.

Despite a fine round he regretted dropping a shot on the par-five 18th after finishing his first round in similarly disappointing fashion.

“Obviously I’m playing so well in the last six to eight months, and looking forward to having a big win,” said Kiradech, who has enjoyed three top-five finishes in recent months.

“This week might be a good week to make the top, with a lot of players coming, great players in the world to support the European Tour.

“But I just want to play my best golf and show them how Asian players are strong enough to play against them.”

Kiradech, who has four wins on the European Tour, said he was especially pleased with his putting, which gives him hope he can deny four-time Major winner McIlroy a second PGA success after his victory in 2014.

“I’ve been putting so good,” said Kiradech. “I hole everything inside 15 feet, which is phenomenal. Just have to keep doing that until the last two rounds to catch Rory.”

Kiradech, who has yet to make an impression at the Majors, with a best result of tied-15th in the 2016 Masters, said he was happy with his performance on such a demanding course.

“Yes, I’ve been really happy with the result of the first two rounds,” he said. “Every time you play under this golf course, they are very tough conditions. You have to be really pleased with it.”

And he said he was optimistic about the weekend.

“I was quite disappointed the way I finished two days in a row just the par 5 (18th) but I’m hitting the middle of the fairways and got an iron in your hand and walk away with bogeys, which is a little bit disappointing,” he said. “But overall, still really good shape.”

‘It’s weird’: Japan’s Osaka enjoying being woman to fear

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‘It’s weird’: Japan’s Osaka enjoying being woman to fear

sports May 26, 2018 07:38

By AFP

Japan’s Naomi Osaka admitted Friday it felt “weird” to be seeded at a Grand Slam for the first time and seeing her transformation from razor-sharp social media star to a player suddenly feared when she walks onto a tennis court.

The bubbly 20-year-old, seeded 21 for the French Open which starts on Sunday, has enjoyed a breakthrough season.

She became the first unseeded player since 2005 to win the prestigious Indian Wells tournament, beating Maria Sharapova, current world number one Simona Halep and Karolina Pliskova on her way to the title.

Then just days later, she defeated her childhood hero Serena Williams in Miami.

“I used to feel a little bit stressed if I was to play a super great player in the first round,” said Osaka at Roland Garros on Friday.

“Now I’m the woman that many players probably don’t want to play against.”

“So it feels weird being seeded as I can feel the expectations.”

Osaka, the daughter of a Haitian father and Japanese mother, stands at 1.80m (5ft 11in) and boasts an equally impressive set of figures at the Slams.

She made the Australian Open fourth round this year and has reached the third round of Roland Garros, Wimbledon and the US Open.

In New York last year, her former home city before decamping to Florida, she defeated former champion Angelique Kerber in the first round.

But it’s clay courts which have provided her with her greatest challenge — 12 months ago, she made a disappointing first-round exit in Paris.

This season on European clay, she fell in the first round in Madrid and at the second hurdle in Rome, beating Victoria Azarenka before losing to Halep.

“In Madrid, I played the match like a hard court. In Rome, I played too many cross-court shots and playing with patience against Halep is not ideal.

“At the end I just got frustrated.”

Osaka says she enjoys trying to bamboozle players who never know what to expect from her hard-hitting style.

“I like to rally and see how frustrated opponents become when I don’t make a mistake. Their coaches tell them I will make mistakes at some stage.”

Since the end of December, Osaka has been coached by Sascha Bajin, the former hitting partner of Williams, Azarenka and Caroline Wozniacki.

His influence was certainly there when she defeated Williams in Miami, such a seismic win that the great American hasn’t played since.

“It’s strange but beating Serena gave me more confidence than winning Indian Wells. I had wanted to play her for such a long time.

“It was a very special match. Now I feel I am getting better every day.”

Osaka will start her French Open campaign against Sofia Kenin of the United States.

Three key Champions League final duels

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Real Madrid's Spanish defender Sergio Ramos (L) kicks the ball during next to Real Madrid's French coach Zinedine Zidane during a team's training session at the Olympic Stadium in Kiev, Ukraine on the eve of the UEFA Champions League final.
Real Madrid’s Spanish defender Sergio Ramos (L) kicks the ball during next to Real Madrid’s French coach Zinedine Zidane during a team’s training session at the Olympic Stadium in Kiev, Ukraine on the eve of the UEFA Champions League final.

Three key Champions League final duels

sports May 26, 2018 07:31

By AFP

The two highest scoring sides in this season’s Champions League face off for the title when defending champions Real Madrid and Liverpool go head-to-head in Kiev on Saturday (1845GMT).

 

With goals seemingly guaranteed in the Ukrainian capital, AFP Sports looks at the key matchups where the game could be won and lost.

 

Cristiano Ronaldo v Virgil van Dijk

Ronaldo is looking to join an esteemed group of 10 players to win five European Cups by scoring in his fourth separate final.

After a slow start to the season, the World Player of the Year has been in stunning form since the turn of the year, scoring 30 goals in 23 appearances for club and country in 2018.

Ronaldo leads the Champions League goalscorers charts for the sixth consecutive season with 15, but will come up against the world’s most expensive defender in £75 million ($100 million) Dutchman Virgil van Dijk in Kiev.

Van Dijk already looks worth the massive price Liverpool paid Southampton for his services in January, as much for the improvement he has inspired in those around him as his own performances.

“I feel also personally much more confident when you know you have a really good partner next to you,” said Liverpool centre-back Dejan Lovren.

“He’s a leader, he takes control,” added right-back Trent Alexander-Arnold. “He’s really got authority.”

 

Marcelo v Mohamed Salah

Salah has been the star turn of Liverpool’s season, scoring 44 goals in his debut season at Anfield to plunder a series of individual Player of the Year awards.

The Egyptian should get plenty of space to showcase his blistering pace and new-found calm in front of goal in the space normally left unoccupied by Madrid’s cavalier left-back Marcelo.

Salah exploited the gaps left by the Brazilian on numerous occasions when Roma were eliminated by Madrid from the Champions League two seasons ago, when Salah lacked the killer finishing touch he has demonstrated this season to take his chances.

Bayern Munich right-back Joshua Kimmich scored in both legs of this season’s semi-final against Real with Marcelo caught out of position.

However, the Madrid vice-captain, now in his 11th year at the Bernabeu, makes up for his defensive liabilities by bombing forward at every opportunity to wreak havoc at the other end.

“I know exactly how I have to play,” insisted Marcelo on Friday.

The flying full-back has scored against Paris Saint-Germain, Juventus and Bayern on route to the final, and also has plenty of positive experience in Champions League finals having netted in 2014 and 2016, in a penalty shootout, against Atletico Madrid.

 

Sergio Ramos v Roberto Firmino

Overshadowed by Salah’s sensational season, Firmino also has 10 Champions League goals to his name this season and is the key starting point for Jurgen Klopp’s pressing game.

“He’s not bothered about hard work, which is another important thing,” said Klopp when Firmino recently extended his contract to 2023. “For an offensive player that is pretty rare in world football.”

Described as a cross between a goalscoring number nine and creative number 10 by Brazil coach Tite, Liverpool will hope Firmino’s movement can drag another Madrid Champions League specialist in Ramos out of position.

Madrid captain Ramos embodies this Real side as he tends to save his best for the big occasion.

The Spaniard started Real’s recent run of European dominance with a stoppage time equaliser against Atletico in the 2014 final and also scored against Real’s local rivals two years later in another all-Madrid showpiece.

Argentine tennis player Nicolas Kicker guilty of match fixing

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Argentine tennis player Nicolas Kicker guilty of match fixing

sports May 26, 2018 07:23

By AFP

Paris  – Argentinian tennis player Nicolas Kicker faces a lifetime ban after being found guilty of fixing two matches on the second-tier Challenger Tour, the Tennis Integrity Unit announced Thursday.

Kicker, 25, was found guilty of contriving the outcome of a match at the ATP Challenger event in Padova, Italy, in June 2015 and another match at the Baranquilla Challenger in Colombia in September that year.

He was also found guilty of failing to report a corrupt approach and of not co-operating with a TIU investigation into the allegations made against him.

“Having been found guilty of all charges, he will be sanctioned at a future date to be determined by Independent Anti-Corruption Hearing Officer (AHO) Jane Mulcahy,” said a TIU statement.

“Details of the decision on sanctions will be made public when received.”

Kicker is currently ranked at 84 in the world having reached a career high of 78 in June 2017.

He reached the third round of the Australian Open in January this year and the also the third round at the Indian Wells Masters.

Thais oust champions China after six-hour thriller

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Busanan Ongbamrungphan clinches her fist after sealing Thailand’s historic victory against China. / Nation Photo by Korbphuk Phromrekha
Busanan Ongbamrungphan clinches her fist after sealing Thailand’s historic victory against China. / Nation Photo by Korbphuk Phromrekha

Thais oust champions China after six-hour thriller

sports May 26, 2018 01:00

By Lerpong Amsa-ngiam
The Nation

2,031 Viewed

Thailand yesterday upset 14-time champions China 3-2 to reach the Uber Cup final for the first time after keeping 3,000 home fans enthralled for six and a half hours at the Impact Arena Muang Thong Thani.

The Kingdom went one better than their previous best, the 2012 semi-finals, and one after another the players paid tribute to the value of the home support in their post-match interviews.

Busanan in a post match interview

After both nations were locked tight at 2-2, Busanan Ongbamrungphan again won the decider – she had also clinched victory in the deciding rubber against Indonesia on Thursday – as she beat the former Olympic gold medalist Li Xuerui 21-11, 21-9, propelling Thailand into the final for the first time in 61 years.

Li is currently world-ranked 233 after returning from a 22-month break following a knee injury.

World No 4 Ratchanok Intanon gave Thailand to a great start, beating world No 5 Chen Yufei for the first time in five attempts.

“I was checking our head-to-head in the morning and tried to figure out what went wrong in the past. In fact I came close to beating her before but I just didn’t play my game,” said the former world No 1 Ratchanok after her 15-21 21-9 21-14 victory.

“But unlike the past, I played my best against her for the first time. Probably it was support from the fans that pushed me to stay in the rallies longer than usual.”

China levelled in the first doubles rubber when world No 1 and current world champions Chen Qinchen and Jia Yifan came from behind in both games to beat inspired world No 8 pairing of Jongkolphan Kititharakul and Rawinda Prajongjai 21-17 22-20.

In the second singles, Thai No 2 Nitchaon Jindapol shrugged off a sluggish start to beat rising Chinese star Gao Fangjie 19-21 21-19 21-12 and restore the home side’s lead.

The world No 11 reckoned she had salvaged her pride after being below her best in Thursday’s tie against Malaysia.

Nitchaon Jindapol

“I’m proud of myself to have finally overcome the pressure,” said Thailand Masters champion Nitchaon, who sustained bruising to her right knee after falling on court several times. Today I showed that I was able to summon my top form despite the tension.

“I chased down shots and fell a lot. But that’s nothing to worry about. What is more important is the fans really drove us to fight hard out there. It really meant a lot to us,” said the 27-year-old from Phuket.

China then levelled the tie against as Huang Yaqiong and Tang Jinhua bounced back from a first-game deficit to pip Puttita Supajirakul and Sapsiree Taerattanachai 26-28 21-17 21-18 in a marathon battle that took one hour and 38 minutes.

In the other semi-final, top seeds Japan had a much easier time as they edged past South Korea 3-1.

World No 2 Akane Yamaguchi beat Sung Ji Hyun 21-10 21-13 but Kim So Yeong before Shin Seung Chan hauled South Korea back into it with a 21-19 21-15 win over Yuki Fukushima and Sayaka Hirota.

Thereafter, however, it was all Japan as world champion Nazomi Okuhara beat Lee Jang Mi 21-9 21-15 before Misaki Matsutomo and Ayaka Takahashi wrapped up victory with a 21-11 17-21 21-14 over Baek Ha Na and Lee Yu Rim.

In the men’s Thomas Cup semi-finals, nine-time champions China beat South Korea 3-1 to set up the Sunday’ s final with Japan who outlast defending champion Denmark 3-2.

Chen Long of China 

Jazz maintains lead at Betagro Championship

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Jazz Janewattananond of Thailand
Jazz Janewattananond of Thailand

Jazz maintains lead at Betagro Championship

sports May 25, 2018 22:29

By Agencies

Nakhon Pathom – Overnight co-leader Jazz Janewattananond of Thailand carded a four-under-par 68 to stay ahead of the chasing pack at the halfway stage of the Betagro Championship on Friday.

The 22-year-old Thai seized the outright lead by one shot after totalling 11-under-par 133 at the highly-rated Suwan Golf and Country Club, a venue where he wrote a slice of history on the Asian Tour in 2010.

At the age of 14 years and 71 days, Jazz, then an amateur, became the youngest player ever to make the halfway cut on the Asian Tour. Eight years on, he is now a one-time winner on the region’s premier Tour following his breakthrough in Bangladesh last season.

Argentinean Miguel Carballo, who held a share of the overnight lead, posted a 69 to share second place with Thailand’s Thitiphun Chuayprakong (65), Chinnarat Phadungsil (67) and Jaturon Duangphaichoom (67) at the ฿3,000,000 (approx. US$96,000) event.

Starting from the 10th hole, Jazz reeled in three straight pars before stumbling with a double bogey on 13 for his only blemish of the day.

The talented Thai, however, bounced back brilliantly with three consecutive birdies to turn in 35 before adding three more birdies on his way home to stay atop the leaderboard.

“I was pretty angry after my double bogey on 13. My ball took an unlucky bounce and went into the water hazard. After that, I just told myself to keep to the plan as I knew the next hole was an easy par-five so I had to keep my cool.

“After I birdied the 15th hole, I managed to keep the momentum going. I made a massive 20-foot birdie putt on 16 and that really boosted my confidence going forward,” said Jazz.

Jazz, who is playing in his sixth tournament in a row, was thrilled to put himself in prime position for a first Asian Development Tour (ADT) victory. The young Thai had to overcome the jetlag that resulted from his long-haul flight from Belgium earlier in the week.

“I came here to play with no expectations in mind. I played on the European Tour in Belgium last week. I flew straight home and had to deal with the change in weather and the jetlag. I wanted to train myself to keep up my stamina with the travelling,” added the Thai.

Carballo, who has capped four top-10s on the ADT this season before going on to claim a top-five finish on the Asian Tour in China last week, traded five birdies against two bogeys to stay in the mix.

“I didn’t feel like I played well today because I was hitting it left and right and was making a lot of bad decisions. I took aggressive lines when I shouldn’t have and I got ahead of myself. But overall, I still held my game together and I am happy with what I shot today,” said the 39-year-old Carballo, a former player on the PGA Tour.

Thailand’s Thammanoon Sriroj and Danthai Boonma, both winners on the Asian Tour, returned with matching 66s to sit two shots off the pace in sixth place alongside local amateur Sadom Kaewkanjana and Hein Sithu of Myanmar.

ADT Order of Merit leader Nitithorn Thippong of Thailand signed for a second straight 68 to trail by four in tied-10th position while defending champion and countryman Tirawat Kaewsiribandit matched his efforts of the day to grab a share of 36th place on 140.

The halfway cut was set at three-under-par 141 with 63 players, including one local amateur, advancing into the weekend rounds.

The Betagro Championship, which is jointly sanctioned by the All Thailand Golf Tour and the ADT, is the ninth leg of the ADT’s 2018 schedule.

The leading five players on the ADT Order of Merit at the end of the season will earn playing rights on the Asian Tour for the 2019 season.

Ends.

Leading round two scores:

133 – Jazz JANEWATTANANOND (THA) 65 68

134 – Thitiphun CHUAYPRAKONG (THA) 69 65, Miguel CARBALLO (ARG) 65 69, Chinnarat PHADUNGSIL (THA) 67 67, Jaturon DUANGPHAICHOOM (THA) 67 67

135 – Hein SITHU (MYN) 69 66, Thammanoon SRIROJ (THA) 69 66, Danthai BOONMA (THA) 69 66, Sadom KAEWKANJANA (A) (THA) 69 66

136 – Sattaya SUPUPRAMAI (THA) 70 66, Tawan PHONGPHUN (THA) 70 66, Meechok PHANTHARAK (THA) 69 67, Kevin LEE (KOR) 71 65, Nitithorn THIPPONG (THA) 68 68, Chapchai NIRAT (THA) 69 67, Kazuki HIGA (JPN) 68 68, Charng-Tai SUDSOM (THA) 67 69

137 – Nattawat SUVAJANAKORN (THA) 67 70, Chanachok DEJPIRATANAMONGKOL (THA) 67 70.

AEC Feed

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ASEAN+ May 26, 2018 01:00

By Asia News Network

Bank Negara raids firm fronting as bank

Bank Negara Malaysia raided Axios Group Sdn Bhd in Cheras on Thursday for allegedly using the word “bank” in their office premise signage and websites without approval.

Bank Negara, Malaysia’s central bank, said Axios was suspected to have committed the offence under section 139(1)(a) of the Financial Services Act 2013 (FSA) without its written approval.

During the raid, relevant documents and computers were seized to assist in the investigation.

Under section 139(1) of the FSA, it is an offence for any person to use the word “bank” without written approval unless such person is licensed under this Act to carry on banking business or investment banking business.

If convicted, the person can be liable to imprisonment for a term not exceeding eight years or to a fine not exceeding 25 million ringgit or both. – The Star

Indonesia eyes deal with Rio Tinto in June

Indonesia’s State-Owned Enterprises Minister Rini Soemarno has said the government is aiming at concluding its negotiations with Rio Tinto on the purchase of the latter’s interests in Papua’s Grasberg mine – the world’s largest gold and second-largest copper mine.

She, however, was reluctant to talk about the negotiation involving state-owned mining company PT Indonesia Asahan Aluminium (Inalum), as a representative of the government and Freeport McMoran, the parent company of PT Freeport Indonesia (PTFI), and Rio Tinto.

“If we have signed the agreement, we will reveal it. God willing, the negotiation will be concluded in June,” said Rini in Jakarta on Thursday as reported by tribunnews.com.

Previously, London-based Rio Tinto confirmed it was discussing the sale with Inalum and Freeport McMoran. Rio Tinto said it noted reports of the potential purchase by Inalum of Rio Tinto’s entire interest in the Grasberg mine for US$3.5 billion.

Rini also declined to comment about the price of Rio Tinto’s participating interests in mining, saying that it was under negotiation.

“No, we cannot reveal it. We are in the process of [document] finalisation before we sign the agreement,” she stressed.

The government has appointed Inalum to buy PTFI’s shares, in line with a law that requires foreign mining companies to divest 51 percent of their shares to Indonesian entities. – The Jakarta Post

Roll back of petroleum products excise tax urged

Philippine Senator Bam Aquino has dared the current administration to roll back the first tranche of excise tax imposed on petroleum products, amidst the surge in the price of petroleum products.

Aquino made the call following the statement of the Department of Energy (DOE) that the immediate suspension of excise tax on oil products is allowed under the Tax Reform for Acceleration and Inclusion (TRAIN) law.

However, the DOE said the suspension would only cover the excise taxes due for 2019, and will only take effect if the prices of imported crude oil be pegged at $80 per barrel for three consecutive months.

Aquino was one of four senators who voted against the ratification of the TRAIN law. He recently filed Senate Bill No 1798, which seeks to amend the TRAIN law. If passed, the excise tax in oil products once the inflation rate surpasses the target over a three-month period will be suspended.

Aquino said he included this measure during the deliberations on the TRAIN law, but was not included in the final draft during the bicameral conference. – Philippine Daily Inquirer

Maybank has limited exposure to Hyflux: Moody’s

Moody’s Investors Service expects Malayan Banking Bhd (Maybank) to sustain limited losses following its loan exposure to Singaporebased infrastructure company HYflux Ltd of S$720 million.

“Potential losses to Maybank should be limited. We assume that most or all of Maybank’s exposure is secured by the Tuaspring project or related cashflow receivables, or both,” it said yesterday.

The international rating agency said this should mitigate losses for Maybank in a worstcase scenario where Hyflux goes into bankruptcy.

“If the entire S$720 million is still with Maybank, and the exposure is classified as impaired, this will lead to a manageable 50 basis points increase in its impaired loans ratio, from 2.3 per cent as of December 31, 2017. – The Star

Laos approves measures to spur growth

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30346278

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Laos approves measures to spur growth

ASEAN+ May 26, 2018 01:00

By VIENTIANE TIMES
ASIA NEWS NETWORK
VIENTIANE

THE LAO GOVERNMENT has adopted measures to stimulate economic growth while also taking steps to curb inflation, which could cause hardship if it spirals higher.

The government’s monthly meeting recently held in Vientiane, chaired by Prime Minister Thongloun Sisoulith, also approved a report on domestic and global affairs.

Concerning a draft law on health insurance and a draft of the amended land law, the government instructed the relevant sectors to revise them based on recommendations from cabinet members. They will then be submitted for debate at the next government meeting.

Meeting participants noted accomplishments achieved this month, notably the government’s efforts to increase revenue in the second quarter of this year.

It is concerned that rising fuel prices could continue to drive up inflation and has devised stronger measures to tackle the issue.

The government has also tried to revise regulations and collaboration mechanisms to improve the business climate while pushing for further implementation of projects financed by the Chinese and Vietnamese governments.

Meanwhile, it was noted that progress has been made in transferring mining investment projects from the Party’s Fund to government supervision.

The reform of state enterprises, namely Electricite du Laos (EDL) and Lao Airlines, was also reported on.

During the meeting, PM Thongloun called on cabinet members to pay more attention to public security and social order in order to facilitate social and economic development.

Eleven laws will be submitted for debate at the session but all government sectors need to be well prepared and submit their reports for debate.