Peak XV Partners, formerly known as Sequoia India & amp, South East Asia, is the leading investor.To improve the world pay system by fusing blockchain and nbsp with conventional finance,Triple-A, a provider of digital currency payments, has announced its US$ 10 million( RM47.8 million ) Series A funding. Leading tech investors…Continue Reading
SINGAPORE: As the organization celebrated its 75th anniversary on Tuesday( Oct 24 ), Prime Minister Lee Hsien Loong stated that it is essential to have a capable and vigilant Internal Security Department ( ISD ) to protect Singapore.
Mr. Lee emphasized three security concerns that Singapore faces: the & nbsp, threat of terrorism, dangers posed by foreign influence operations, and domestic vulnerabilities, saying that it is” not by chance” that the country has been able to mitigate threats to its sovereignty and security.
Singapore will always have inherent flaws due to the diversity of races and religions there, Mr. Lee remarked in his statement at the ISD’s 75th commemoration gala dinner held in the Ritz Carlton.
Local threats are therefore a concern for ISD.
Mr. Lee said Foreign Singaporeans, especially the older ones, tend to have different viewpoints from another Singaporean people, using the example of US-China conflicts. & nbsp,
Additionally, when crime breaks out in the Middle East, Southeast Asia and other regions are strongly impacted.
” Sunni Singaporeans, who clearly understand the plight of the Palestinian population, like Muslim communities around the world, find the ongoing Israel-Hamas conflict to be an mainly emotive issue.” And on the other hand, some members of our Jewish and Christian areas also become agitated, according to Mr. Lee.
” We must acknowledge and accept the reality of all these distinctions. They remind us to keep a close eye on racial and religious relationships because misunderstandings and conflicts may also develop and lead to serious issues if not handled properly.
In addition to race and religion, social groups are also growing, such as simmering tensions between local residents and non-Singaporeans. According to Mr. Lee, several groups support several causes, adopting vociferous advocacy and force group strategies learned from abroad, and dividing people for and against their cause.
Beyond what is available to the public or on social media, ISD is crucially important in this situation, giving the government proper information and intelligent evaluations.
” You are our ground-based eyes and ears, communicating with all of these different parties.” You keep a close eye on changes, and when issues start to get worse, you stop them in their tracks before they get out of hand.
Mr. Lee told past and present ISD officials, adding:” In fact, you protect the public place for the appropriate and successful working of Singapore’s democratic process ,” adding that the government can take action or change policies to address these issues.
The report, according to the international organization, highlights governance issues such as” fraud, illegal logging, and fight with bush communities” that the DRC’s log industry is currently dealing with. Less than one in four checking concessions were found to function in accordance with the law when a percentage of DRCContinue Reading
As the two auto-making companies increasingly compete head-to-head for developing Asian industry, the Taiwanese electric vehicle juggernaut BYD is expanding its reach in Thailand, challenging Japan’s long-standing potency of the local car market.
According to Autolife Thailand, BYD only just entered the Thai automobile market in July 2022, but it already sells more than a third of electric vehicles and on 4 % of all new vehicle sales.
The best three businesses in Thailand are still Toyota, Isuzu, and Honda, but BYD is at the top of the list of EV manufacturers, representing the future of automobiles. BYD has surpassed four smaller Japanese rivals— Nisa, Mitsubishi Motors, Mazda, and Suzuki — in terms of the total number of vehicles sold in Thailand.
The fall of BYD in Thailand is a result of aggressive sales and marketing strategies. Rever Automotive, which has close ties to the Thai auto industry giant Siam Motors, has been given special dealership rights.
Rever offers a comprehensive support package and is apparently convincing dealers of lesser-known Japanese brands like Suzuki and Mazda to move to BYD.
Design comparisons are difficult, but the BYD ATTO 3 is said to be selling for US$ 30 000 to$ 33 000 in Thailand, compared to$ 43, 000 or more for the Nissan Leaf,$ 50 000 for Toyota bZ4X, and roughly$ 47, 500 for Tesla’s Model 3.
The smaller BYD Dolphin is being sold by Rever for just under$ 20,000, while the larger version is going for about$ 36, 000. Lately, Thailand’s top-selling EV was the ATTO 3.
Regional power scheme plays a significant role. The Thai government wants 30 % of all cars produced in the nation to be electric by 2030. Thus far, the Chinese have seized that chance while the Japanese have no.
The proportion of EVs in full Thai car sales has increased from about 1 % in 2022 to more than 10 % then, helped by incentives.
As part of a plan to help Thailand’s” natural coming,” Prime Minister Srettha Thavisin drove in the BYD Seal at the beginning of October. Chinese Vehicles hardly make an appearance in Thai auto industry statistics, according to Japan’s Nikkei newspaper, which stated that” it was symbolic that the vehicle was a Chinese-made one, not one from Japan.”
Data from Thailand’s Department of Land Transportation revealed earlier this year that battery-powered electric vehicles( Vehicles) from BYD were outselling Nissan vehicles by a margin of more than 50 to 1.
Nissan came in tenth place, SAIC( MG ), Great Wall Motors, Hozon and Geely( Volvo ), Tesla, and, toward the bottom of the list, BMW( including Mini ) and Porsche. BYD finished first in BEV registrations.
BYD began construction on a factory in Thailand in March of last year to make electric vehicles for export to Europe and another ASEAN nations.
It will have a power of 150,000 cars annually, or roughly 10 times as many as the business sold in Thailand during the first eight months of this year, and is located in the Eastern Economic Corridor of Thailand. In 2024, output is expected to start.
Thailand now houses the Great Wall Motors and SAIC factories in China. Starting next time, GAC Aion, Hozon Auto, and Changan intend to join them.
The wave of Chinese investment will help Thailand maintain its status as Southeast Asia’s auto-producing hub— once known as the” Detroit of Asia”— and give Japan a wake-up call not only in Thailand but also in Indonesia, Malaysia, and other parts of the region.
The Japanese have no choice but to decline without making a quick and significant switch to electric cars after working for years to increase market shares of internal combustion engine vehicles to as high as 90 % in Southeast Asian nations.
According to data from the Japan Automobile Manufacturing Association( JAMA ), 80 % of the 2.8 million vehicles sold in ASEAN in 2021 were passenger cars, trucks, and buses produced by its members. According to more new information, Japan’s market share has since decreased to about 75 % as Hyundai Motor has grown in Southeast Asia as well.
The Japanese must protect a sizable manufacturing base in Southeast Asia. According to JAMA, more than 50 Chinese factories in ASEAN produced just over three million vehicles in 2021.
Of these, 48 % were produced in Thailand, 35 % in Indonesia, 11 % in Malaysia, and the majority in the Philippines and Vietnam. More than a third of the cars produced in Thailand were exported in 2021.
The jobs and supply chain infrastructure that the Chinese auto industry supports is strongly supported by all of these nations. Does the Japanese react quickly enough to prevent losing another sizable portion of the market is the question at hand.
In India, where Suzuki Motor plans to convert its company, Maruti Suzuki, into its global EV manufacturing base, the situation is very different.
The enormous potential of the American marketplace, Maruti Suzuki’s hegemonic market share in the nation, and an estimated 20 % lower cost of production than in Japan are all aspects in favor of this choice.
Maruti Suzuki sold just over 40 % of the passenger car market in India in 2022, according to the Federation of Automobile Dealers Associations.
Following it were Hyundai Motor at 15 %, Tata Motors at 14 %, Mahindra & amp at 9 %, Kia, Hyundai, Toyota Kirloskar, and Honda, respectively.
After China and the US, India is currently the third-largest vehicle market in the world. New four-wheeled automobile sales in India increased 28 % to 4.85 million units in the year to March 2023, surpassing the country’s 4.39 million profits, which fell to fourth place.
Similar to Thailand, the American market for electric vehicles is currently expanding. About 15, 000 four-wheeled electric cars were sold in the six months leading up to June 2023, or less than 1 % of India’s general auto industry but up six days year over year. The Indian government wants EVs to account for 30 % of new car sales by 2030, just like in Thailand.
More than 2.7 million electric vehicles( EVs) are found on Indian roads, but almost all of them are two – and three-wheelers, such as rickshaws, bikes, and scooters. In the first half of 2023, Tata Motors, Mahindra & amp, Mahindra, and SAIC( MG ) were the top four-wheeled electric vehicle ( EV ) sellers in India. A dozen cars were also sold by Hyundai, Kia, BMW, Citroen, and BYD.
In the second quarter of 2024, Maruti Suzuki intends to begin producing electric vehicles, with Japan’s export anticipated to begin in 2025. Export to Europe are anticipated to observe, possibly through a partnership with Toyota.
By 2031, Maruti Suzuki plans to increase its annual production capacity from 2.25 million to 4.0 million vehicles, 60 % of which will be battery-electric vehicles( EVs ), 25 % hybrids, and 15 % powered by alternative fuels like gasoline-ethanol blend flex fuel and compressed natural gas.
A new shop in Kharkhoda will produce roughly 1.0 million of the 4.0 million automobiles. Maruti Suzuki, an supplier for more than 30 years, then transports gasoline-powered vehicles to about 100 nations in Asia, the Middle East, Europe, Latin America, and Africa.
The company exported more than 40 % of its total to Africa last year, up about 60 % to 116, 000 units. The Chinese will probably get a run for their money as Vehicles are likely to follow.
Follow this author on Twitter at @ ScottFo83517667.
SINGAPORE: As the situation has improved and more rainy weather is anticipated, the National Environment Agency ( NEA) will stop issuing daily haze advisories starting on Tuesday, October 24.
For the remainder of 2023, there is little chance of transboundary haze affecting Singapore, according to NEA, which also noted that the ASEAN Specialized Meteorological Centre ( ASMC) has lowered the level of alert for the southern Southeast Asia region.
Level 2 was downgraded to Level 1, signaling the dry season, and Level 1 signaled a possibility of intergovernmental cloud in the area.
” Over the past year, there have been showers over Singapore and the surrounding area. According to NEA, hub matters over Sumatra have remained low and firm, with no major transnational cloud just affecting Singapore.
In the upcoming days, it is anticipated that the area will experience general wetter conditions. We anticipate more rain to the area with gentle and variable breezes for the months of November and December 2023 as the inter-monsoon time transitions from end to end of that year.
NEA added that it will keep an eye on the situation and, if necessary, begin regular recommendations.
On October 7, when Singapore’s heat quality dropped into the bad range for the first time since 2019, the agency started issuing daily cloud recommendations.
But, since then, as rainfall over Singapore and the surrounding area reduced the likelihood of haze, the skies have largely been apparent. & nbsp,
Both the NEA cloud site and its myENV cellular app offer additional updates. The ASMC site has details on the distribution of areas found in the area over the previous two weeks.
Angel investors took part in this nbsp square.Funds will be used to develop the team, develop a lab, and improve marketing initiatives.An Indonesian business focused on dog genomics and biology called Moosa Genetics announced andnbsp that it has received funding from East Ventures, a trailblazing, sector-agnostic venture capital firm in Southeast…Continue Reading
SEOUL: According to the government, South Korean government detained a North Korean ship carrying people on Tuesday, October 24. Early on Tuesday, the Joint Chiefs of Staff reported that the small, wooden ship was stopped off the northeast area of Sokcho in South Korea after being spotted close to theContinue Reading
The cartels are also infamous for their” pig butchering” scams, in which con artists lure people into virtual tales while persuading them to invest their money in dubious plans, frequently halfway across the globe. Foreign and non-Chinese are the two divisions into which the con artists divide their victims. ToContinue Reading
SINGAPORE: The Energy Market Authority ( EMA ) has approved the importation of 1.2 gigawatts( GW ) of Vietnamese electricity on conditional terms, which is a further step toward Singapore’s ambition to import up to 4GW of low-carbon electricity by 2035. & nbsp,
The conditional approval indicates that the job by Sembcorp Utilities, a wholly-owned subsidiary of Semmcorp Industries, has undergone initial testing to determine its technical and commercial viability.
Tan See Leng, the second secretary for trade and industry, made the declaration on Tuesday, October 24, during his conversation at the Singapore International Energy Week’s Asia Clean Energy Summit.
As part of its goal to decarbonize its power source, Singapore has recently announced plans to buy up to 4GW of low-carbon electricity by 2035.
The EMA has granted conditional certifications to initiatives from Indonesia and Cambodia in addition to Vietnam. These include 2GW and 1GW of energy imports, both, and they will use a combination of hydropower, wind, renewable energy. & nbsp,
Singapore lacks renewable energy sources, so importing strength enables it to import cleaner foreign resources. Local power grids can diversify power sources away from fossil fuels while also accelerating the region’s development of renewable energy and facilitating economic growth. & nbsp,
On light import trials, EMA has collaborated with a number of partners, which enables it to improve the technological and regulatory frameworks.
Singapore started importing up to 100 kwh( MW) of renewable electricity from Lao PDR via Thailand and Malaysia in June of last year as part of the & nbsp, Thailand, Malaysia, and Singapore Power Integration Project.
Dr. Tan, the Manpower Minister, commented on the job and said it demonstrated how cross-border and nbsp energy trading between various nations had become a reality in Southeast Asia. & nbsp,
About 270GW hours of electricity have been exported from Lao PDR to & nbsp, Singapore, since its inception. All four nations are currently debating how to improve this job, including exchanging at capacities greater than 100MW and facilitating electricity flow in all directions.
Four members of the Association of Southeast Asian Nations( ASEAN) are involved in the project, which is the first international cross-border energy trade and import of alternative energy into Singapore.
committed to promoting creativity and enhancing healthcare access in Indonesiadid assist businesses in addressing opportunities and challenges in medicalLeading venture capital firm East Ventures, based in Indonesia and Southeast Asia, announced the launch of its first healthcare-focused fund, the US$ 30 million( RM143 million ) & nbsp, which is committed to…Continue Reading