Investors have dumped shares of processed food giant PT Indofood CBP Sukses Makmur following the company’s decision to acquire instant noodle manufacturer Pinehill Company. The move is viewed as detrimental to Indofood’s financial condition despite the potential boost to its global market outreach, analysts have said. Indofood CBP’s shares, trading under ICBP on the Indonesia […]
Read MoreThe cabinet has approved a draft bill requiring foreign digital service providers to pay a value-added tax (VAT), making Thailand the latest country in Southeast Asia to seek to boost tax revenue from international technology companies. Last month, Indonesia passed a law requiring big internet companies to pay VAT on sales of digital products and […]
Read MoreSOME 167 fintech firms and financial institutions have signed up for digitalisation grants, two months after the government rolled out a S$125 million support package for the industry. Close to 4,700 industry professionals are also taking advantage of training allowances offered as part of the package, that cover up to 90 per cent of fees […]
Read MoreCentral Village and its 130 stores are launching a major sales event to encourage Thais to shop domestically, with discounts of up to 90%, while promoting the outlet mall concept, a relatively new retail option in Thailand. The mall, operated by Central Pattana Plc, is targeting millennials through an omni-channel retail strategy that includes marketing […]
Read MoreIndonesian stocks and the rupiah exchange rate have soared in recent weeks as foreign investors flock to Indonesian assets and bet on a financial market recovery despite a bleak domestic economic outlook. The Jakarta Composite Index (JCI), the main gauge of the Indonesia Stock Exchange (IDX), jumped 2.48 percent on Monday to 5,069 points in […]
Read MoreThe World Bank had forecasted that Cambodia’s economy would shrink 1.0 percent this year before rebounding 6.0 percent next year which was released in Washington yesterday. The projected decline in economic activity in 2020 reverses estimated growth of 7.1 percent last year. But it is less severe than the contractions forecasted for several emerging market […]
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Thailand
