Malaysia’s Finance Minister Lim Guan Eng told a group of entrepreneurs that it is time that Malaysia gave some healthy economic competition to Singapore.

“We must have the can do spirit. For example, why must we lose to Singapore every time? Beat them at their own game, you can do it. Penang has beaten them many times,” he told a group of entrepreneurs here at the Malaysian Global Innovation & Creativity Centre’s (MaGIC) Global Accelerator Programme (GAP).

“I’m not being anti-Singapore here but I’m just trying to motivate you that you can do it! After all if you look at Singapore, they use many of our people (talents),” Lim added

He noted that the Singaporeans are really good in marketing noting they have laid bold claims to being the originator of several delicacies that were common to both Singapore and Malaysia.

“Chicken rice is theirs?… if you’re not careful fried kuay teow will also be theirs (someday),” Lim said to laughter from the audience. – The Star

Third telco selection delayed again

The Philippines’ third telco initiative has stalled as the oversight committee members crafting the draft rules for the selection process were unable to overcome big differences on how it should be implemented.

Eliseo Rio Jr, acting secretary of the Department of Information and Communications Technology (DICT), said the terms of reference (TOR), delayed for months now, were not approved during their meeting on Friday.

“It’s disappointing,” said Rio, who declined to comment further.

In the days leading to Friday’s meeting, Rio expressed optimism they could soon publish the terms of reference, which would outline how the government would award a coveted set of 3G, 4G and potential 5G radio frequencies.

These will be used by a new contender to provide mobile services like calls, text messaging and internet browsing.

The selection of a third telco is linked to President Duterte’s earlier threat to break the PLDT Inc and Globe Telecom duopoly, which in recent months have announced their commitment to improve their mobile and fixed-line networks.

Rio, a former commissioner of the National Telecommunications Commission under whose watch the operator of Sun Cellular first broke the PLDT-Globe duopoly, declined to say why the TOR was not approved, nor what were the next steps in the process. – Philippine Daily Inquirer

Hyflux given 6-month break from creditors

Singapore’s Hyflux is seeking about S$200 million in rescue financing and is in preliminary talks with more than 25 interested parties, lawyers for the water and power company said yesterday as the Singapore High Court gave it a six-month reprieve from creditors.

The company is also in discussion with four parties on a possible sale of its Tuaspring Integrated Water and Power Project, and Hyflux founder Olivia Lum told the court in a June 14 affidavit that she was “confident” that improving conditions will allow the plant to be sold at or above its $1.3 billion book value. – The Straits Times