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Malaysian palm oil price in biggest fall in 21 months as Indonesia axes export levy

JAKARTA:Malaysian palm oil futures suffered their biggest fall in more than 21 months on Monday after Indonesia, the world’s top palm oil producer, announced measures to increase shipments. The sharp drop in palm oil prices in late trading was in direct response to the announcement that Indonesia will help palm oil exporters by reducing its export levy to zero from $50 a tonne previously, traders said. Until now the Indonesian levy had […]

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KBank keen on growing Laos network

Kasikornbank (KBank) is expanding its presence in Laos as part of the bank’s regional outreach plan, targeting loan growth in the country to reach 3 billion baht next year.  Given Laos’ economic growth potential, the bank targets loans to reach 3 billion baht, deposits 2 billion, and trade finance transactions 18 billion in 2019, said Pattanapong Tansomboon, […]

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Actual FDI in Vietnam on the rise amid trade war

The Hanoitimes – Foreign direct investment (FDI) commitments in the first 11 months totaled US$30.8 billion, equivalent to 93.2% of the same period last year, according to the investment ministry. As of November 20, disbursement of FDI projects in Vietnam jumped to US$16.5 billion, representing an increase of 3.1% year-on-year, as the US and China have […]

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Philippines: Health premiums: taxable wealth

Having friends know you are a tax professional in public practice makes you their go to person for any clarification and, at the same time, be the recipient of their apprehensions. This happened to me when Revenue Memorandum Circular (RMC) No. 50-2018 was issued.  The RMC further clarified the new income and withholding tax provisions of Republic […]

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Thailand: Border target out of reach this year

Thailand’s overall border trade is likely to miss the government’s 15% growth target thanks to the impact of heavy floods in Laos and Myanmar, the weakness of the Burmese kyat, and the deepening trade row between the US and China.  Adul Chotinisakorn, director-general of the Foreign Trade Department, said border trade, including transit trade, is expected […]

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Bank Indonesia to issue cross-border QR code payment regulation

Bank Indonesia is preparing a cross-border regulation on QR code transactions that is expected to come into effect early next year. “The cross-border regulation is for regulating QR code transactions in rupiah made by foreign players,” a BI source said as quoted by kontan.co.id on Sunday. The unnamed source said the regulation would facilitate domestic financial institutions to cooperate easily with foreign platforms like WeChat and Alipay that offer QR […]

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