Friday, May 26 2017 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
TOKYO - Positive economic momentum in Japan is unlikely to be sustained beyond 2018, with stagnation in productivity growth continuing. Global asset manager, Natixis, says this is the main reason behind disappointingly low wage increases, and that drastic labour market reform is needed to increase productivity.
HONG KONG - The potential impact of the new US Administration's likely protectionist trade tax policies on Asia-Pacific exports, business activity, and issuer revenues has become the top credit risk for Asia-Pacific, according to S&P Global Ratings. It says the risk of the Trump Administration adopting a protectionist trade stance is “high and increasing”.
BEIJING - Chinese companies are actively seeking mature technologies in Israel to bring to China to develop high-return businesses, according to the Chairman of Hangzhou Wahaha Group Co Ltd., Zong Qinghou. The Chairman of China's largest beverage producer said Israel's high-tech companies could find a huge market as well as funding in China.
SINGAPORE – ANZ Bank believes that Asia’s two year trade recession is finally behind us, but says the building blocks for a full-bodied recovery that encompasses all dimensions of growth, including consumption and investment, are yet to fall in place.
XIAMEN - DHL eCommerce, a division of Deutsche Post DHL Group, is to further increase its presence in South China through the introduction of e-commerce logistics services in Fujian province. To meet the increasing demand, the company also announced expansion of its Shenzhen and Hong Kong distribution centres to manage up to 81 million shipments a year.
BANGKOK - With the e-commerce industry growing quickly in Thailand, the Central Committee on Prices of Goods and Services at the Ministry of Commerce has gazetted new regulations covering requirements for the display of pricing and any add-on expenses for all online offerings.
MELBOURNE - Australia Post has joined an initiative with Alibaba, the world’s biggest eCommerce company, and the Australian natural health company, Blackmores, to help combat the rise of counterfeit food being sold across China. Professional services firm PwC is an adviser to the project.
HONG KONG – The Hong Kong Stock Exchange will introduce five-year China Ministry of Finance Treasury Bond (MOF T-Bond) Futures on Monday, April 10. HKEX’s MOF T-Bond Futures will be the offshore markets’ first futures on domestic Chinese Government bonds.
KUALA LUMPUR - Alibaba Group says it will set up a logistics hub in Malaysia, the latest in a string of Chinese investments - including in infrastructure and real estate – in Malaysia. The hub will be part of a digital free trade zone launched by Malaysia’s Prime Minister, Najib Razak, and Alibaba’s founder and Executive Chairman, Jack Ma, in Kuala Lumpur yesterday.
SINGAPORE - Sri Lankan banks are likely to be under greater strain in 2017, says ratings agency Standard & Poor’s. "We expect overall asset quality in Sri Lanka's banking system to weaken, partly fuelled by the banks' aggressive loan growth over the past two years, says S&P Global ratings credit analyst, Deepali Seth-Chhabria.
SHENZHEN – China’s ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, has reported full-year revenue of RMB101.2 billion for 2016, bolstered by growth in the company's Carrier Networks and Consumer businesses. Operating profit increased to RMB1.17 billion.
SINGAPORE - Indian oil and gas companies are likely use their improved cash flows from market-linked fuel prices to expand their asset base and enhance operational quality, according to a new report by ratings agency Standard and Poor’s.
SEOUL – South Koreans will go to the polls on May 9 to elect their 19th Head of State, following the impeachment of former President Park Guen-hye. The Presidential election day has been declared a temporary national holiday.
HONG KONG – After the RMB’s rebound in early January, the CNY and CNH were under renewed depreciatory pressure in February (-0.4%) in light of a stronger USD (+1.6%). That weakening trend has extended and been reinforced in March by a more hawkish Fed. Market, which has priced in 3-4 Fed rate hikes in 2017, according to global asset manager Natixis.
SYDNEY – The CIMIC Group company, UGL, has been awarded A SGD67.5 million contract for the process upgrade and equipment replacement project at Singapore’s Woodleigh Waterworks by PUB, the national water agency.
BRISBANE - A Chinese company listed in the Fortune Global 500 for the past eight years, and home to more than 120,000 employees, is to partner The University of Queensland in sustainable metals research. Hebei Iron and Steel Group (HBIS) will invest A$5.25 million over the next five years in the HBIS-UQ Innovation Centre for Sustainable Steel (ICSS), based in Brisbane.