Nikkei reported Rakuten will offer online brokerage services for investors in Malaysia with an eye toward acquiring a retail brokerage market share of around 20% in the future.

The joint company will be equally owned by Rakuten Securities and Kenanga. It will initially handle Malaysian stocks, with commissions held to the lowest level in the Southeast Asian country.

The report also while the value of trading on Bursa Malaysia was around US$130bil a year, individual investors account for about 20% of the sum.

In 2015, Rakuten acquired the Hong Kong unit of FXCM, a US provider of foreign exchange trading services. The joint company in Malaysia is its second overseas business outlet.

Maybank, which has a presence in every Asean country, said it recognised the “significant potential” within the region, arising from its growing middle-class, young population, SME segments as well as inter and intra-regional trade.

The strategic objectives are to become the top Asean community bank, the leading Asean wholesale bank linking Asia, leading Asean insurer, global leader in Islamic finance and to be the digital bank of choice.

Group president and CEO Abdul Farid Alias said the group had also strengthened its footprint in the region with the opening of a second branch in Laos and a new office tower in Cambodia this year.

“We will soon be opening a new branch in Shenzen – our fifth in Greater China- as we seek to tap into the Asean/Greater China trade flows,” he said after the group’s AGM here on Thursday.

“Passengers can now treat a companion to a complimentary journey and look forward to experience the ultimate in comfort and style on Malaysia Airlines’ flights across its entire comprehensive network around the globe,” it said in a statement on Thursday.

Guests will also enjoy 50kg of checked baggage each for First Class and 40kg each for Business Class, as well as access to Malaysia Airlines’ Golden Lounge. Guests will also be able to earn Enrich miles for both tickets.

The project, to be carried out by Keppel Fels Brasil’s BrasFels shipyard in Rio de Janeiro, is for a repeat customer Modec Offshore Production Systems, said Keppel Corporation in a press release on Wednesday.

The project comprises the fabrication and integration of nine topside production modules for the vessel, which is expected to arrive at the shipyard by the first quarter of 2017 for the integration phase.

The vessel, with a storage capacity of 1.6 million barrels of oil, will be able to process 150,000 barrels of oil and five million cubic metres of gas a day.

It is slated to depart the shipyard in the third quarter of 2017, and will be deployed in fields off the coast of Rio de Janeiro.

BrasFels delivered five similar projects safely and ahead of schedule in the past five years, of which three were for Modec.

Keppel shares closed 10 cents or 1.8 per cent up at S$5.65 on Wednesday, before the announcement was made.

Total automobile sales in January and February was 173,000 units, 10,000 units fewer than in the same period last year. The economic slowdown has reduced people’s purchasing power, but sales are expected to recover in the second half.

“Economic growth was 4.7 per cent last year. This year it may grow to more than 5 per cent. We hope for higher demand in the second half,” Astra International director Gunawan Geniusahadja said in Jakarta on Monday.

Reduced fuel prices, Gunawan added, was one of two aspects that determine car sales along with economic recovery. “If operational costs are lower, then transportation costs will be lower too, which can increase demand,” He said.

Despite lower sales, Astra has kept its market share in the automotive industry. “We still have a 51 per cent market share,” he said.

It also aims to add 10 per cent in pre-tax profits to reach VND7.5 trillion (US$333 million) this year.

According to a report released this week, the Ha Noi-based bank’s deposits are set to rise 15 per cent to reach VND578.458 trillion in 2016, while outstanding loans will rise 17 per cent to touch VND452.967 trillion.

It also expected to pay a maximum dividend of 10 per cent this year.

The bank also wants to increase its total assets by 13.5 per cent to reach VND765.438 trillion this year, and also raise its charter capital from VND26 trillion to VNĐ35 trillion through share issue to become more competitive. A member of the bank’s management board Le Thi Hoa earlier said Vietcombank would make 10 per cent of its primary shares available to foreign investors to increase its charter capital.

She said the bank also planned to issue bonus shares at a ratio of 35 per cent.

Japan’s Mizuho Bank, which owns 15 per cent of Vietcombank, would maintain at least their current ownership ratio, and may increase it to 20 per cent, Hoa said.

Foreigners are allowed to hold a maximum of 30 per cent of Vietcombank’s shares. Currently, the ratio stands at 21 per cent.

The bank, with total assets worth VND673.910 trillion as of the end of last year, earned VND1.3 trillion in revenue in the first two months of this year, after having to spend roughly VND900 billion on provision costs.

The project, owned by Russia’s Buscenter Met Company Ltd, was meant to assemble and manufacture bus parts and agricultural machines.

Under the licence granted in April 2013, the US$1billion project was to be built on 50ha in Nhon Hoa Industrial Park in An Nhon township.

“The construction was expected to be finished in three years. However, it is now at a standstill,” Thang told Biz Hub.

The project was the foreign direct investment project that had the largest-ever capital in the province.

Viet Nam and Russia signed an inter-governmental protocol on supporting the production of motor vehicles in the Southeast Asian country in March.

The document said Russian automakers would co-operate with Vietnamese partners to set up several joint ventures to manufacture and assemble trucks, cars with 10 seats and above, crossover utility vehicles (CUV) and a number of special-use vehicles.

The two sides have pledged to assemble cars under Viet Nam’s planning for automobile industry development by 2020, with a vision towards 2030. In this, the local supply rate will be 25 per cent for special-use vehicles, 30 per cent for trucks and CUVs and 35 per cent for cars with 10 seats and above by 2020.

By 2025, the local supply rate is set to reach 40 per cent for special-use vehicles and CUVs, and 45 per cent for trucks and cars with 10 seats and above.

If the joint ventures failed to reach the committed local supply rate, their licences will be revoked.

During the first period of operation, Viet Nam will allow the joint ventures to import a number of complete built-up units without paying duty, which will be sold to get an understanding of the market demand. In addition, there will be no duty on imported components and auto assembly parts for five years.

The protocol will come into effect by mid-2016.

According to the Nhon Hoi Economic Zone, it has also withdrawn the investment certificate of the Nhon Hoi Wind Power Plant, which was jointly funded by Germany’s Viettracon Management and Investment Limited Company and Switzerland’s Green Venture Invest AG Company, for its delay in project implementation.

The project, granted a licence in 2014, was designed to be built on 600ha in the zone.

The plant was scheduled to make its first phase operational this year, with a capacity of 30.55 MW, and the second phase with 61.1 MW by 2020.

Local authorities said the province always provided the best conditions for investors to do business, but it would withdraw licences of projects that have been delayed. The withdrawal of licence is aimed at helping other investors to get an opportunity to do business in the province.

Daovone started his first business in 1989 by opening a centre for teaching English language, selling computers and providing accounting advisory services.

He then moved to bigger businesses based on the potential in the country in different periods of time.

Currently Daovone is Vice President of the Lao National Chamber of Commerce and Industry (LNCCI) , and honourary consul of Switzerland.

Other roles he performs also include the President of the Lao Tennis Federation and President of the Board of Advisors at Pakpasak Technical College as well as the President of Lao Philippine Business Council.

Daovone has operated a variety of businesses in Laos over the years. After opening the English centre, he moved to run a printing house business after witnessing a business opportunity and growing demand in the printing business.

Given that Laos was opening its doors to the world, he also moved to open a business offering investment consultancy to facilitate the inflow of foreign investment into Laos.

Daovone highlighted the significance of Small and Medium Enterprises (SME) in the country, saying that SMEs can improve the lives of Lao people.

These days, Daovone is a businessman who is famous in the SME sector, which has been recognised for its potential to reduce poverty in Laos.

Daovone gave an interview to Vientiane Times last week about the success of his business on the occasion of the 40th anniversary of his wedding.

“Doing any business means taking risks but we have to be well-prepared in terms of gaining business management skills to minimise the risks in business operations,” he said.

A business plan and the assessment of the business plan will also be key factors to reduce the risks for business operations, Daovone added.

“If we have already outlined a business plan, it will not only help us to become successful in business management but will also become essential proof when applying for bank loans as well,” he advised.

Daovone has also invested in his children’s education by having them study abroad. Since then his first son has returned home to Laos to work in the family business.

His latest venture is the ICD Dry port in Savan-Seno (Savan Park) in Savannakhet province. Meanwhile his wife and younger brother manage a printing press.

Those business people who already own their own businesses, they should also be eager to source new innovative and creative ideas in their business operations, Daovone advised.

Over the years he has offered courses on starting up your own business and establishing a business plan, aiming to help the new generation become entrepreneurs and own their own business operations as well as to increase the number of entrepreneurs in Laos.

After achieving good success, Daovone later opened ACE Consultancy Co Ltd in 2004 to offer information and advice to potential investors in Laos. He also has an interest in a transport company offering logistical services to the mining industry.

One contract is for the 172-unit Ascott Corniche Al Khobar, slated to open in 2018, while the other is for the 133-unit Somerset Downtown Al Khobar, which is slated to open in 2019.

The Ascott said the new contracts will boost its presence in the Middle East to more than 2,300 apartment units across 16 properties, which are in nine cities in places like Oman, Qatar, Turkey and the United Arab Emirates (UAE).

Ascott chief executive Lee Chee Koon said in a statement on Wednesday (April 6): “In addition to these two new properties in Al Khobar, Ascott will open seven more properties over the next three years, in Dubai in UAE, Istanbul in Turkey, Jeddah and Riyadh in Saudi Arabia and Muscat and Sohar in Oman.”

He said strong demand has been fuelled by growth in domestic and regional business, and leisure travellers.

Ascott plans to have 5,000 serviced residence units in the Middle East by 2020.

An official from Vietnam Airlines said that the capital invested in the aircrafts had come from the Government’s guaranteed loan and commercial loan. Therefore, the carrier will apply the model of sale and lease back to reduce the nation’s public debt.

He said the model was a popular financial business in the world. The loan to own such A350 aircrafts would be reduced but the carrier still ensured the number of aircrafts in operation as well as balancing capital flow and corporate finance safety.

Vietnam Airlines is also selling two aircrafts Boeing 777 – 2000 ER. The planes have been flying for 13 years.