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Cambodia: PPSP in legal dispute over power supply contract

Asiatic Group (Holdings) Ltd (AGHL), a Singapore Exchange listed company, has started arbitration proceedings against the Phnom Penh Special Economic Zone Plc (PPSP) seeking a minimum of $14.4 million in relief over a disputed power supply contract. A disclosure document submitted by AGHL on Thursday stated, “on June 30 2020, the Electricity Authority of Cambodia […]

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Philippines: Companies likely to cut 2021 capex

MANILA, Philippines — Companies may further reduce their capital expenditures next year despite the gradual recovery of the economy as they need to protect their balance sheets, according to top company officials. JG Summit Holdings Inc. president and CEO Lance Gokongwei said there is a need to protect the balance sheet especially as many businesses […]

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Thailand: NESDC works to expedite spending

The government has set a target to disburse at least 70% of the 400-billion-baht budget scheduled for social and economic rehabilitation in fiscal 2021. Danucha Pichayanan, secretary-general to the National Economic and Social Development Council (NESDC), said by the end of September next year (the final month of fiscal 2021) at least 70% of the […]

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Thailand: BoT keeps policy rate at 0.5%

The Monetary Policy Committee left its key interest rate unchanged at a record low on Wednesday, as expected, as the economy showed signs of recovering from the fallout of the coronavirus pandemic. All seven MPC members of the Bank of Thailand voted unamiously to keep the one-day repurchase rate steady at 0.5% for a fourth […]

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Philippines: Home sector wants delay on TRAIN-era tax in low-cost houses

MANILA, Philippines — Housing regulators backed appeals from homebuilders to postpone levying taxes in low-cost houses next year while the pandemic rages on, a levy that could end up getting passed to buyers through expensive prices that the poor may not afford. “This will surely have a significant impact on the sales of real properties intended for low-income buyers,” Housing […]

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