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Leighton Asia wins $140 million Philippines tollway project

August 28, 2018

MANILA - CIMIC Group company, Leighton Asia, has been selected by NLEX Corporation to construct the North Luzon Expressway (NLEX) Harbour Link Segment 10 – R10 Exit Ramp project in the Philippines. Revenue to Leighton Asia, which is part of CIMIC Group construction company CPB Contractors, will be approximately AUD140 million.

Advanced works have commenced and the project is scheduled to be completed in late 2019.

Moon moots ‘single economic community’ of the two Koreas

August 20, 2018

SEOUL - Speaking at an official Government ceremony marking both the 73rd anniversary of Liberation Day (which is celebrated in both North and South Korea to commemorate Victory over Japan Day), and the 70th anniversary of the establishment of the Korean Government,  President Moon Jae-in said economic co-operation between North and South Korea over the next 30 years could be worth at least KRW170 trillion.

Faltering growth in Malaysia warrants accommodative fiscal policy: ANZ

August 17, 2018

KUALA LUMPUR – Malaysia’s economy has dipped. For the June quarter, 0.3% q/q GDP growth was the lowest since Q1 2013. Exports contracted 1.6% over the quarter, and, combined with firm import demand, net exports shaved 1.6% off quarterly growth. Manufacturing growth eased further to 4.9% y/y from 5.3% y/y in Q1, a slowdown consistent with the milder increase in exports.

Reduced liquidity uncovers excessive corporate leverage at largest Filipino companies

August 13, 2018

MANILA - Beyond worsening economic fundamentals in the Philippines, the financial health of the Philippines’ firms has worsened, says Natixis in a research note. It has not been a good year for the Philippines, the French banking group says, pointing to a weaker peso, underperforming equities pushed by a vanishing current account surplus and a potentially larger fiscal deficit.