VN firms explore opportunities in New Zealand

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http://www.nationmultimedia.com/aec/VN-firms-explore-opportunities-in-New-Zealand-30284349.html

Viet Nam News
HOME AEC AEC NEWS THU, 21 APR, 2016 12:58 AM

Representatives from 18 Vietnamese companies made a three-day business trip to Auckland, New Zealand. /Courtesy of vietnamplus

HANOI – Representatives from 18 Vietnamese companies made a three-day business trip to Auckland, New Zealand in a move to seek new business opportunities there.

These firms operated in wide range of sectors such as food processing, pharmaceuticals, leather and footwear, machinery and equipment.

In his speech at a business matching conference organised as part of the trip, Vietnamese Ambassador Nguyen Viet Dung described Vietnam as an effective gateway for New Zealand’s enterprises to penetrate lucrative Asean markets.

The ambassador also emphasized the importance of accelerating co-operation between the two business communities, especially when it comes to the Trans-Pacific Partnership deal, which both Vietnam and New Zealand are involved in.

Indonesia, UK sign agreement on creative economy

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http://www.nationmultimedia.com/aec/Indonesia-UK-sign-agreement-on-creative-economy-30284339.html

The Jakarta Post
HOME AEC AEC NEWS WED, 20 APR, 2016 4:38 PM

President Joko “Jokowi” Widodo speaks with British Prime Minister David Cameron at Number 10 Downing Street in London on Monday. /Courtesy of Presidential Infromation Centre

LONDON – Indonesia and the United Kingdom have signed an agreement to boost cooperation in the creative economy after President Joko “Jokowi” Widodo met with Prime Minister David Cameron in Britain on Monday, local time.

“This time, my visit is to strengthen cooperation in the creative economy and to develop our creative industry,” Jokowi said in a statement received by thejakartapost.com.

During the meeting, Prime Minister Cameron said that, “Indonesia, as a country projected to become the world’s seventh largest economy by 2030, is a major partner for the UK.”

The UK is Indonesia’s fifth largest investor.

“Exports are growing between our two countries and the number of Indonesian students in the UK has also increased,” he said.

Cameron also expressed support for a comprehensive economic partnership agreement between Indonesia and the European Union.

As a democratic and predominately Muslim country, Cameron said Indonesia could help address the challenges of terrorism and extremism.

7 Malaysian cooks who are making it abroad

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/7-Malaysian-cooks-who-are-making-it-abroad-30284334.html

Sharimla Nair
The Star
HOME AEC AEC NEWS WED, 20 APR, 2016 4:28 PM

Clockwise: Simpson Wong, Ping Coombes, Christina Arokiasamy, Norman Musa, Kyo Pang and Azalina Eusope /The Star

KUALA LUMPUR – They may have left the country in pursuit of other things but one element deeply connects them to Malaysia – food. Be it running a restaurant that sells the food, or simply writing about our local cuisine in cookbooks, these Malaysia-born chefs and foodies are making a name for themselves all over the world.

Here’s just a brief background of seven of these Malaysians who have made our food known abroad.

Kyo Pang: The pull of pulled tea

Her teh tarik is pulling hordes over to the tiny coffee shop in Chinatown’s Canal Street in New York City. Guess what Pang’s outlet is called? Kopitiam. Cute, huh?

Pang, 31, is a third-generation nonya whose family still lives in Penang, where her grandfather ran a kopitiam, which her father skilfully turned into a legit restaurant.

Pang established Kopitiam in October last year, wanting to keep alive the traditional nonya cuisine, as well as introducing it to the rest of the world. Kopitiam’s nasi lemak, pulut inti, kaya butter toast and other delectable nonya dishes have received rave reviews, and the outlet even got a mention on The New York Times Critics’ Pick.

Simpson Wong: A chef to celebrities

Can you imagine Meryl Streep eating char kway teow? Well, she may just order that dish when she dines at Simpson Wong’s Cafe Asean. The Oscar winner is one of the many A-listers who frequent the restaurant that serves Vietnamese, Thai and Malaysian cuisines.

Wong, who hails from Tanjung Malim, Perak also established Jefferson that got its own 15 minutes of fame after being featured in Sex And The City. However, it had to be closed down after Wong suffered a heart attack in 2005. The chef got back on his feet and eventually opened his namesake Wong, before moving on to Chomp Chomp in New York City. Although its menu – which features carrot cake, Nonya chap chye, assam fish and goreng pisang – is labelled as Singaporean cuisine, it has Malaysia written all over it. Seriously, there is no way anyone can believe that his Sarawak Laksa is Singaporean.

Ping Coombes: A master chef of her own

She put Malaysia on the food map after winning the 2014 UK MasterChef competition with her take on nasi lemak and wonton soup, and she hasn’t looked back since. Although Coombes has lived in Britain for over 15 years, she still looks to her hometown in Ipoh for inspiration in her cooking. Her first cookbook, Malaysia: Recipes From A Family Kitchen will hit the shelves in May, and features recipes for Malaysian food inspired by her childhood. Coombes also keeps busy by partnering with eateries in London, where she prepares Malaysian dishes for the customers. She recently concluded two Laksa Monday sessions at a restaurant in Lower Bristol Road, where she showcased her signature Prawn and Chicken Laksa (that was featured on UK MasterChef 2014).

Azalina Eusope: Answering her life’s calling

The last thing Azalina Eusope set out to do in life was to become a street vendor, like her folks four generations before her. She didn’t want to become a noodle seller like her father in Penang, and escaped to apprentice in a kitchen in Singapore. She eventually worked in Sydney, Hong Kong and Bangkok before finally accepting her fate in the United States. Azalina sold crepes and kaya-glazed banana fritters at a weekly farmer’s market in San Francisco to make ends meet. Her food was good, and she unofficially became the spokeswoman for Malaysian cuisine in the Bay Area. However, her talent couldn’t be contained within the confines of a pushcart. Azalina opened a new restaurant called Azalina’s at Market Street – oh, and it just happens to be on the ground floor of San Francisco’s Twitter building! Here she offers dishes like pineapple tea salad, nasi lemak, hokkien mee and other Malaysian fare.

Norman Musa: Malaysian cuisine ambassador

His recipes are featured in The Sunday Times UK, and in his latest entry, Norman Musa writes of his yearning for Malaysian food. The Penang-born chef has been living in Britain for 21 years, and it was during the first few months as a student at the University of Portsmouth that he learned how to cook Malaysian dishes – over the telephone. His late mother taught him everything he needed to know about making curries and rendangs, which he now features in his restaurant, Ning. In 2007, Norman launched his Malaysian cookery classes through which he promotes Malaysian food to the Brits, teaching them how to make rendang, gulai, murtabak and more. Norman is also a familiar face at food festivals and on television, after hosting a 13-episode cooking series and having a stint as a celebrity chef on MasterChef Malaysia in 2011. After the success of his first cookbook Malaysian Food: A Collection Of My Favourite Dishes And The Inspiration Behind Them, Norman released his second book Amazing Malaysian: Recipes For Vibrant Malaysian Home-Cooking this year.

Christina Arokiasamy: The spice merchant’s daughter

She was known as “the girl with yellow hands” at school, but that didn’t stop Christina Arokiasamy from helping her mother prepare spices for grinding at their mill. She is a fifth generation descendant of a family who traded spices, and she was exposed to the world of spices throughout her childhood.

Christina may have left Kuala Lumpur behind to pursue a different life in the United States, but she always held on to the great memories and food created in her kitchen back home.

She started by teaching her American friends how to prepare South-East Asian dishes, and her small classes turned into cooking demonstrations that took her across the country. Christina is now one of the most recognised teaching chefs in America, known for her unique take on South-East Asian flavours, which she also presented in her cookbook The Spice Merchant’s Daughter. But her biggest achievement so far has to be the day she was elected as Malaysia’s official Food Ambassador to the United States in 2014.

Poh Ling Yeow: Recreating connections with home

When she moved from Kuala Lumpur to Adelaide at nine, Poh Ling Yeow left most of her culture behind. But food has enabled her to keep that vital link to her Malaysian family heritage, and a drive to have something to pass down to her family in Australia. Poh entered the first season of MasterChef Australia, and emerged first runner-up. Although she didn’t win the title, she was nonetheless introduced to a world of opportunities – including her own cooking shows and writing cookbooks. Same Same But Different was published in 2014 and features Chinese and Aussie favourites such as noodles, dumplings, bagels, salads, puddings, pasta and cakes. In 2014, she also collaborated with Malaysia Airlines to introduce her signature Nonya Chicken Curry dish on their Australia and New Zealand flights.

Vietnam revives Van Phong Port project

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http://www.nationmultimedia.com/aec/Vietnam-revives-Van-Phong-Port-project-30284254.html

Viet Nam News
HOME AEC AEC NEWS WED, 20 APR, 2016 1:00 AM

A UK oil vessal at Van Phong Bay in central province of Khanh Hoa./Viet Nam News

KHANH HOA – Nha Trang Port JSC has received a licence to revive Van Phong Port in the central province of Khanh Hoa, which stalled several years ago after the original investor ran out of funds.

Hoang Dinh Phi, deputy head of the Van Phong Economic Zone – where the port will come up – said an investment certificate has been issued for the VND417 billion (US$18.7 million) first phase of the port.

The port, to come up on 42.21 hectares in Van Thanh Commune in Van Ninh District, can berth 50,000 tonne vessels and handle 1.5-2 million tonnes of cargo a year.

After 2020 the port will get two more terminals that can handle 1-1.5 million TEU of cargo a year.

The work will be funded by internal resources (VND200 billion or $8.9 million) and loans or sale of stakes (VND217 billion or $9.6 million), according to Nha Trang Port JSC.

The company, which operates a tourist port in Nha Trang, is partly private, with conglomerate Vingroup owning nearly 35 percent.

First approved in 2007, Van Phong International Transshipment Port was to be Viet Nam’s biggest port.

Work began in October 2009, but Vinalines called it off after nearly a year due to lack of funds. It hoped to change the design to reduce the cost, but the Government rejected its demand and took away the project from it.

IFC finances Myanmar port’s expansion project

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http://www.nationmultimedia.com/aec/IFC-finances-Myanmar-ports-expansion-project-30284259.html

The Nation
HOME AEC AEC NEWS WED, 20 APR, 2016 1:00 AM

SINGAPORE – The International Finance Corp (IFC) provides US$40 million to Myanmar Industrial Port, as part of its help to improve the country’s under-developed transportation sector.

MIP is one of two major container ports in Myanmar and a key trade gateway that handles more than 300,000 twenty-foot equivalent units (TEUs) annually or 40 per cent of the country’s container traffic, IFC said in a statement.

The $40 million is the first phase of a $200 million financing package which is expected to include $160 million in long-term senior loans to be provided by IFC and other foreign lenders. The financing package will help the company increase capacity and efficiency at its container terminal in central Yangon, the commercial capital of Myanmar, IFC said.

The expansion plan as well as efficiency improvements will increase the terminal’s annual handling capacity to 500,000 TEUs or more.

“Thanks to IFC’s investment, we will be able to further modernise our port operations and respond to the increasing demands of international shipping lines and local traders,” said Captain Ko Ko Htoo, MIP’s Chairman. “We are also keen on IFC’s advice on bringing our environmental, social and governance practices in line with international standards.”

The World Bank’s financing arm noted that the investment is its first in the transportation sector in Myanmar and is part of a broader strategy to help Myanmar do business more efficiently and more competitively thereby unlocking the country’s potential for increased international trade and supporting job creation and economic development.

Myanmar’s container volumes are estimated to have increased by 90 per cent over the last 3 years due to rapid growth in imports and exports following the government’s implementation of political and economic reforms.

“IFC’s financing for MIP comes at a critical time in Myanmar’s development when transport infrastructure is urgently needed to realize the country’s growth potential,” said Hyun-Chan Cho, IFC’s Head of Infrastructure and Natural Resources for Asia. “The MIP loans will also help to catalyse investment by other private developers and financiers in Myanmar’s infrastructure sector for which long-term US dollar funding has not been readily available.”

Initiative to connect US, Asean entrepreneurs

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http://www.nationmultimedia.com/aec/Initiative-to-connect-US-Asean-entrepreneurs-30284260.html

Leo Kasim
The Brunei Times
HOME AEC AEC NEWS WED, 20 APR, 2016 1:00 AM

Colin Willett, the US Department of State’s deputy assistant secretary in the East Asia and Pacific Bureau. /The Brunei Times

BANDAR SERI BEGAWAN – The recently established United States-Asean Connect initiative will allow more businesses from the US and Asean to learn more about trade opportunities under the Trans-Pacific Partnership (TPP) agreement and the Asean Economic Community (AEC), a senior US diplomat said last week.

In an interview with the media, Colin Willett, the US Department of State’s deputy assistant secretary in the East Asia and Pacific Bureau, said that the US-led initiative puts together a “whole of government” approach to economic engagement for businesses from both sides.

“This will give US businesses more centralised information about Asean and provide them access to US assistance to Asean.

“But it also gives Asean a place to learn more about the US not just in terms of investment but in areas such as export financing and insurance,” Willett said at The Radisson Hotel.

Willett was in the country for meetings with Brunei’s Ministry of Foreign Affairs and Trade (MoFAT) to discuss various issues.

She said that the US-Asean Connect initiative, which was launched in February 2016 during the Special US-Asean Summit in California, is also another channel for Asean to interact with the US government which had been actively involved in the developments of regional economic integration.

She added that a ‘connect centre’ has been set up in Jakarta followed by more centres in Singapore and Bangkok.

In terms of trade, Willett said that there has been a lot of interest coming from US businesses to come into Southeast Asia due to the potential benefits of having a connected regional economy under the AEC.

However, she said more work needs to be done to show how it would affect businesses.

“I think there are still some questions on what the AEC means for international investors and I think that people are still looking at what the AEC means for them.”

Willett said that the interest is also partly because of the TPP, a trade deal among 12 Pacifc Rim countries of which Asean states Brunei, Singapore, Malaysia and Vietnam are members of.

“When it comes to TPP implementation, we’re also taking cues from Asean and finding out what the next steps are in regional economic integration.”

Willett said that discussions have been held on how the US can help Asean through workshops and training to take the AEC forward.

Engagements between the US and Asean in the last five years have helped drive the importance ofAsean to US businesses, the US official said.

US exports to Asean totalled US$91.9billion in 2012/13 while imports to the region amounted to US$108 billion, according to information from the US-Asean Business Council website.

Asean is the US’ fourth largest export market creating and supporting over 472,000 jobs in the US.

The average Asean consumer also purchases nearly 1.75 times as many US goods per capita as the Chinese consumer and about nine times as many as the average Indian consumer, said the council.

As rents plunge, so do luxury home prices in Singapore

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http://www.nationmultimedia.com/aec/As-rents-plunge-so-do-luxury-home-prices-in-Singap-30284168.html

Rennie Whang
The Straits Times
HOME AEC AEC NEWS TUE, 19 APR, 2016 1:00 AM

The Sail @Marina Bay, where a 678 sq ft studio apartment was sold in February for $1,475 per square foot – a price not seen there in over five years./The Straits Times

SINGAPORE – Prices of luxury homes in Singapore are hitting new lows at several developments as owners offload properties amid plunging rents. An owner at Cairnhill Plaza is said to have sold his roughly 3,000 sq ft four-bedder for about S$1,300 (US$957.50) per sq ft (psf) – the lowest psf price recorded at the project since 2007.

It is believed he was pressured to sell as his private bank did not want to handle an auction sale.

A 678 sq ft studio apartment at The Sail @ Marina Bay went for S$1,475 psf in late February, a price not seen at the project in over five years.

Some owners are selling due to business problems or job losses, experts noted. Others may fear the outlook could deteriorate further.

Said Suzie Mok, senior director of investment sales at Savills Singapore: “Many of the apartments are vacant and it is quite difficult to get leases renewed at a good rate. The returns are not that great and if owners have made capital gains, it may be time to recycle (the asset).”

While not all sellers would have lost money – The Sail @ Marina Bay was launched in 2004 at prices from about S$900 psf, for example – more sellers are booking losses.

Across the Core Central Region (CCR) – which includes the traditional prime Districts 9 to 11, the downtown core planning area and Sentosa Cove – 63 secondary market sales of condos lost money in the first quarter, according to SRX Property.

This is up from 35 of such sales a year earlier and 60 in the fourth quarter last year.

At Orange Grove Residences, for example, all three transactions this year have each involved losses of close to S$1 million.

The rental market is the key culprit as it struggles with weakened demand and ramped-up supply.

Expatriates arriving these days tend to be at the middle-management or executive level, with far less generous housing budgets than in the past, said Desmond Sim, CBRE head of research for Singapore and Southeast Asia.

There is no longer demand for the large luxury units that are common to the CCR, he noted.

And while the Urban Redevelopment Authority’s rental index for non-landed homes in the CCR has fallen just 7.9 per cent from its peak in the third quarter of 2013 to the end of last year, rents on a quantum basis have probably corrected more than that, Sim added.

This is because shrinking unit sizes over time would have helped prop up rents on a psf basis.

At Draycott Eight, for example, recent contracts signed for four-bedders have fallen to as low as S$13,000 a month, well under the S$15,000 to S$20,000 they used to command.

Luxury homebuyers today tend to be Singaporeans purchasing for their own use, usually as holiday homes or gifts to their children, said DTZ regional head (SEA) of research Lee Nai Jia.

“Hence they are not concerned about the rental yield. Some are entering the market at this point as the prices are relatively cheap, compared to when the property was launched or sold three or four years ago.”

Other buyers feel the Additional Buyers’ Stamp Duty will probably not be tweaked in the short term and do not wish to wait longer.

Foreign buyers, who are still in the minority, are mainly Malaysian and Indonesian permanent residents purchasing homes in Singapore as their children are studying here, Dr Lee added.

At the same time, funds continue to be on the hunt for unsold units from developers.

A fund run by Evia Capital Partners is said to have recently bought 20 units at Starlight Suites in River Valley from developer TA Corporation. Evia Real Estate managing director Vincent Ong said on Thursday that he could neither confirm nor deny the purchase. TA Corporation declined to comment.

“These funds feel commercial values have not come off enough, but residential is cheap,” an agent said.

(US$1 = S$1.36)

Make the most of tourism potential, ADB economist advises

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Make-the-most-of-tourism-potential-ADB-economist-a-30284170.html

Bounfaeng Phaymanivong
Vientiane Times
HOME AEC AEC NEWS TUE, 19 APR, 2016 1:00 AM

VIENTIANE – The full potential of tourism in Laos has yet to be realised and the government should grab the opportunity to amass more income, with the sector currently generating the most revenue after hydroelectricity and mines.

“The Lao government has to do something more to ensure Laos fully benefits from the tourism sector, especially from high-end tourists from Asia, Europe and other parts of the world,” said a senior economics officer with the Asian Development Bank (ADB) Soulinthone Leuangkhamsing when addressing ADB’s recent Development Outlook 2016 event.

He noted that Laos is fully integrated with Asean in terms of regional amalgamation, and services was one of the branches of tourism that had generated a lot of income for the government in past years.

The ADB reported that tourism-related services such as accommodation and transportation benefitted as tourist arrivals rose by 12.6 percent to 4.7 million and revenue from tourism increased by 13.1 percent to US$725.4 million last year.

“What is needed is for tourism managers to arrange more interesting activities to increase the number of high-end tourist arrivals and generate more income for Laos,” Soulinthone said.

Laos has a wide range of tourist attractions, giving the country the chance to rake in more revenue from this sector.

Yet there are still many challenges in terms of improving infrastructure and accommodation facilities, as well as personnel development, to ensure better tourism services and management.

Foreign tourists now enter Laos by several channels including air routes and land transport between neighbouring Asean and other countries.

According to the Tourism Development Department under the Ministry of Information, Culture and Tourism, some 1,490 tourist sites are now officially listed in Laos, although some need further development to make them more attractive to visitors.

Most foreign tourists target the northern provinces including Luang Prabang, which is a popular destination for holiday makers from Thailand, China and the Republic of Korea, as well as people of other nationalities.

Meanwhile the capital and Vientiane province are centrally located and visitors usually spend a few days in these areas before heading to the north and south of the country.

Laos’ southernmost province of Champassak is also appealing because of its natural, historical and cultural attractions such as Vat Phou and the dramatic Khonphapheng waterfall.

Last fiscal year, about 600,000 tourists visited the province, which was 15 percent in excess of the target. The province is hoping to have 600,000 to 700,000 visitors by the end of this year, with a realistic prediction of about 650,000 visitors, according to Champassak tourism officials.

Although visitor numbers have fluctuated in recent years, Champassak is targeting 2020 as the year when it receives 4.6 million visitors.

Malaysian consumers hold back on big-ticket items such as cars

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Malaysian-consumers-hold-back-on-big-ticket-items–30284175.html

Leong Hung Yee
The Star
HOME AEC AEC NEWS TUE, 19 APR, 2016 1:00 AM

PETALING JAYA – Sales of Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) fell for the first-quarter ended March 31 as consumers responded to the weak economic sentiments and held off buying big-ticket items.

In a crisis, Perodua achieved one of its best sales ever. During the financial crisis of 2007/2008, the company achieved the most bookings in its 15-year history in July 2008.

The managing director then was quoted as saying: “We were in Nirvana.”

However, things seems to have changed. People have been holding back purchases in times of uncertainty while financial institutions have seen lower profits and higher doubtful debts.

Last Thursday, Perodua announced that its sales fell by 17.4 per cent in the first quarter from 57,200 units a year ago.

“On a month-to-month basis, Perodua sold 17,300 vehicles in March 2016 against 22,400 units in the same month last year, a drop of 22.8 per cent,” Perodua president and chief executive officer (CEO) Aminar Rashid Salleh said.

He attributed the decline to consumers rushing to buy their vehicles before the implementation of the goods and services tax (GST) in March last year. The GST came into effect last April 1.

Malaysia Automotive Association (MAA) forecast Malaysia’s total industry’s volume to drop by 2.5 per cent to 650,000 units in 2016 against last year.

The automotive industry grew for six consecutive years from 2010, and peaked at a new all time total industry volume (TIV) high of 666,674 units last year, albeit at a marginal increase of 0.03 per cent against 2014.

The lower car sales, slower property market and slowdown in household loan growth could be a grim reading on the health of the country’s consumer demand and the challenging times.

Besides residential properties, cars would be the most expensive purchase most consumers would make in their lifetime. This explains why economists look to car sales to gauge the country’s economic performance.

According to analysts, the rising cost of living coupled with a series of subsidy rationalisations, higher car prices by major marques, relative to the lower disposable income will weigh on car sales with more downside pressure to be seen among national marques whose buyers are more sensitive to the cost of living.

“People don’t buy big ticket items when there is uncertainty about the economic outlook. Car dealers are sacrificing their margins and giving out big incentives to help attract buyers. The sense of consumer optimism does not appear to be strong,” an analyst said. In February, the country’s inflation rate rose at a faster-than-expected pace of 4.2 per cent from a year ago following higher food prices and a jump in alcoholic beverages and tobacco.

The Statistics Department said the Consumer Price Index (CPI) for February rose by 4.2 per cent to 114.5 compared with 109.9 a year ago. Economists had forecast a 4.1 per cent increase.

Another element to this is the consumer credit. Banks have been imposing stricter lending rules over the past year for loan applications and approvals have shown a contraction.

Maybank Investment Bank Research sayid industry loan growth continues to slow, with the moderation in household loan growth notably more significant in February 2016.

“While still early days, our 2016 industry loan growth forecast of 6.5 per cent (7.9 per cent in 2015) is still within reach and this is premised on household loan growth of just 6.1 per cent and non-household loan growth of 7.0 per cent,” it said in a recent report.

It noted that loan applications rose 5.5 per cent year-on-year on a three month monthly average basis but loan approvals contracted for the sixth consecutive month by 10 per cent year-on-year in February 2016.

Association of Banks Malaysia (ABM), group president and CEO Datuk Abdul Farid Alias said the overall rejection rate for housing loans in Malaysia last year was only 20.39 per cent.

“The total number of applications for housing loans to all banks in Malaysia was 456,000 and of this number, 93,000 applications were rejected,” he added.

For loans where principal amount borrowed was less than 500,000 ringgit, the rejection rate was 19 per cent.

Loans between 500,000 ringgit and 1 million ringgit saw a 20.71 per cent rejection rate, between 1 million ringgit and 3 million ringgit saw 25 per cent loans rejected, and those over 3 million ringgit saw 36 per cent being turned down.

Between January and February this year, the overall loan rejection rate was at 20.6 per cent.

Retail Group Malaysia (RGM), which tabulates quarterly retail data, said the retail industry in the first three months of this year is expected to register a negative growth of 0.4 per cent, compared with the same period a year ago.

RGM maintained its forecast of 4.0 per cent growth rate for Malaysia retail industry in 2016.

It added that the 3 per cent cut in employees’ EPF contribution from March 2016 was not expected to contribute significantly to overall retail sales in 2016.

Myanmar confidence still strong

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Myanmar-confidence-still-strong-30284184.html

HOME AEC AEC NEWS MON, 18 APR, 2016 5:32 PM

Twelve of 17 markets in Asia-Pacific recorded declines in MasterCard’s Index of Consumer Confidence, but Myanmar along with Vietnam and India are still extremely optimistic.

For the first time since 2012, consumers in the region are not optimistic about the immediate future, according to a MasterCard report titled “Consumer Confidence (H2 2015)”.

However, Myanmar, Vietnam and India are extremely optimistic in their outlook for the next six months.

“A number of emerging markets are bucking this trend, namely Myanmar, Vietnam and India, which are all continuing to see strong economic growth,” Eric Schneider, head of Asia-Pacific at MasterCard Advisors, said recently.

Record FDI in 2015-16

Foreign direct investment into Myanmar reached a record high in the 2015-16 fiscal year, at US$9.48 billion (Bt332 billion), according to data compiled by the Directorate of Investment and Company Administration.

Myanmar received $8 billion in FDI in 2014-15, compared with $4.1 billion in 2013-14.

The oil and gas sector attracted the biggest investment last fiscal year ($4.82 billion), followed by transport and communication ($1.93 billion) and manufacturing ($1.06 billion).

Singapore, which put $4.3 billion into 55 projects, topped the list of foreign investors, followed by China, Myanmar’s biggest trading partner, which invested $3.3 billion.

Investment from Thailand was only $236.74 million with 12 projects, against $165.7 million in the 2014-15 fiscal year and $529.1 million in the 2013-14 fiscal year.

$3 bn invested in hotels and tourism

As of last month, combined domestic and foreign investment in the country’s hotels and tourism sector since 1988 exceeded $3 billion, according to the Directorate of Investment and Company Administration.

Of the total, foreign investment in 63 projects amounted to almost $2.5 billion. Domestic investment in 94 projects totalled $620 million.

One foreign firm and 39 joint ventures have also poured investment into the tour business.

US offers help on peace process

US Ambassador Scot Marciel said Washington would help to end Myanmar’s many civil wars, according to representatives of ethnic armed groups, who recently met him in Yangon.

The new ambassador met Colonel Khun Oakkar from the Pa-Oh National Liberation Organisation, who said it was a good sign that the US was showing an interest in the peace process.

“He said he would help the peace process and we presented our position.

“He promised that US government policy towards the peace process would be consistent,” Padoh Saw Kwe Htoo Win, general secretary of the Karen National Union, said recently.

Farmers promised larger loans, sector reforms

The government will increase loans to paddy farmers to 150,000 kyat (Bt4,461) from 100,000 kyat in the coming growing season, according to Soe Tun, vice president of the Myanmar Rice Federation (MRF).

On April 7, Aung Thu, minister for agriculture, livestock and irrigation, told the MRF that the government would increase agricultural loans and was thinking about turning the Myanmar Agricultural Development Bank (MADB) into a public bank.

He said the association suggested a two-month loan extension.

Plans were underway to grant loans to commercial crops growers and other agribusinesses by turning the MADB into a corporation, according to the Myanmar Economy and Social Reform Framework for 2012-2015, presented by economist Zaw Oo.

MADB has granted agricultural loans of more than 1 billion kyat to farmers. It also grants loans for other crops.

“The farming sector faces a labour shortage.

“Heavy burdens of loans, high interest rates and high production costs should be tackled in an urgent manner,” said Chit Khaing, the MRF’s president.

Govt pressured over EU rice exports

The Myanmar Rice Federation has urged the new government to hold bilateral negotiations on rice exports with EU countries.

Representatives held talks with the ministers of agriculture and commerce on refreshing trade strategies that still see 90 per cent of rice exported overland, mainly to China.

Until March 25 in the 2015-16 fiscal year, Myanmar earned more than $511 million from exports of 1 million tonnes of rice and 360,000 tonnes of broken rice, according to the Commerce Ministry.

Myanmar has secured an EU “generalised scheme of preferences” deal to export to the bloc.

During the first nine months of the 2015-16 financial year, the country’s trade with the EU exceeded $500 million, with Myanmar earning more than $256 million, according to the ministry.

Trade with the EU has been increasing annually.

DICA dumps 1,355 firms

The Directorate of Investment and Company Administration this month abolished the registration of more than 1,300 domestic and foreign companies.

The move came after 1,095 domestic companies and 260 foreign firms failed to contact the DICA. At the beginning of last October, the DICA told companies to report for tax scrutiny.

More than 45,000 domestic companies, including 200 public businesses, in excess of 3,200 foreign firms and around 80 join ventures are registered with the DICA.