17.09.21 - 23.09.21 Sup SEAkers!
Diving instructor Carmela Sevilla holds a mesh bag filled with trash during an underwater clean-up drive in Bauan, Batangas province, Philippines, Sept 18, 2021.
This Week's News Spotlight:
Vietnam to buy 10 million Cuban Covid-19 vaccine doses - ST Duterte's daughter to seek re-election as Davao mayor, despite calls for presidency run- ST |Indonesia to Jump on IPO Boom by Listing 14 State-Owned Companies - Caixin | Myanmar's Suu Kyi has 'no comment' on shadow government's call for war against junta - ST | ASEAN Finances Eroded by Pandemic, Stoking Risk of Currency Slump- Caixin | Singapore’s GLP Seeks $2.5 Billion for China Logistics Fund - ST
Vietnam to buy 10 million Cuban Covid-19 vaccine doses - ST
The agreement concerns an initial five million doses, but Vietnam has already authorised the purchase of 10 million doses in total.PHOTO: AFP
Cuba agreed on Monday (Sept 20) to provide Vietnam with 10 million doses of its home-grown coronavirus vaccine, Abdala, for which the Asian nation has given emergency approval.
On Saturday, Vietnam became the first foreign country to approve the emergency use of Abdala, which Cuba is already using along with Soberana 02, another locally developed vaccine.
Duterte's daughter to seek re-election as Davao mayor, despite calls for presidency run- ST
Ms Sara Duterte-Carpio has topped every opinion poll on preferred candidates for the presidency.PHOTO: REUTERS
The daughter of Philippine President Rodrigo Duterte on Thursday (Sept 16) said she would seek re-election as mayor of the southern city of Davao next year, despite growing calls for her to run for the presidency instead.
Ms Sara Duterte-Carpio, 43, who replaced her father as mayor, has topped every opinion poll on preferred candidates for the presidency, for which only one term is allowed under the Constitution.
"According to Mayor Sara, she will run for re-election as Davao City Mayor," her spokesman, Ms Christina Frasco said in a text message, adding her youngest brother, Mr Sebastian Duterte, would run as vice-mayor.
Indonesia to Jump on IPO Boom by Listing 14 State-Owned Companies - Caixin
Indonesia plans to list 14 state-owned companies. Photo: IC Photo
A fossil fuel shipper and a geothermal energy firm are among the 14 state-owned companies that the Indonesian government plans to list in the stock market by 2023 in an effort to both improve management and replenish public coffers drained by the coronavirus response.
Indonesia is home to over 100 SOEs, according to the government. Out of that number, 34 are already being traded on the stock market — mainly those in key industries like transportation and energy. With an IPO boom going on here now, the government believes the timing is right to tap private investment money for a new round.
Despite retaining majority stakes in the companies, Jakarta hopes that management will improve by creating distance from the government and making executives aware of the views of minority shareholders
Myanmar's Suu Kyi has 'no comment' on shadow government's call for war against junta - ST
Toppled Myanmar leader Aung San Suu Kyi would comment only after discussions with others in the NLD leadership.PHOTO: AFP
Toppled Myanmar leader Aung San Suu Kyi has "no comment" on a declaration of war against the junta by a shadow government dominated by lawmakers from her party, her lawyer said on Monday (Sept 20).
"She said she never turns against the wishes of the people," he added.
Non-violence is a core principle of Ms Suu Kyi and was a defining characteristic of the democracy movement she led against a previous junta decades ago.
But many young protesters have embraced the resistance movement, seeing it as the only way to permanently root out military dominance of the country's politics and economy.
ASEAN Finances Eroded by Pandemic, Stoking Risk of Currency Slump- Caixin
Photo: IC Photo
Southeast Asian governments have increasingly turned to highly unusual measures to fund state coffers depleted by prolonged pandemic relief programs, raising the specter of a sell-off in the region’s currencies.
Compared with other places in the world, Southeast Asian nations have seen a relatively low rate of full vaccinations. For this reason, governments in the region are reluctant to significantly ease restrictions on movement.
While worsening public finances is a shared problem between developed and developing economies, economies in the Association of Southeast Asian Nations rely heavily on external debt. In addition, investors tend to sell off currencies from the region if governments appear to relax fiscal discipline.
Southeast Asian states thus face a dilemma. They need to spend more funds to keep their economies afloat while restrictions are in force. Yet a perceived lack of discipline may drive away investors and aggravate the risk of currency depreciation.
Singapore’s GLP Seeks $2.5 Billion for China Logistics Fund - ST
An employee sorts packages at a SF Express outlet
GLP Pte., a private equity-backed logistics operator and investor, plans to raise as much as $2.5 billion for a new fund, betting that Chinese consumer spending will underpin demand for modern warehouses.
In China, GLP develops and manages modern warehouses across 68 cities. It leases to customers like express courier SF Holding Co. and logistics services provider Best Inc. The new fund will keep focusing on such assets, especially those in first-tier cities and economic hubs, in the next two to three years, Zhuge said in an interview.
“Modern warehouses are still scarce in China,” Zhuge said. “The market needs to grow 15 times to reach the same level as the U.S. on a per capita basis.”
Leasing demand for China’s logistics facilities accelerated in the second quarter, driven by e-commerce platforms, according to a report by CBRE. Overall vacancy for Grade A warehouses fell to 14.2%, the lowest since the onset of the coronavirus pandemic, CBRE said.