Temasek creates Sbn private credit fund | FinanceAsia

A wholly-owned personal funds platform has been established by Singapore’s state-owned investment company Temasek, according to a media release from December 6.

The platform’s initial portfolio will amount to around S$ 10 billion ($ 7.46 billion ), consisting of direct investments and credit funds. &nbsp,

According to the transfer, the investment will be managed by a group of around 15 record investment professionals across offices in New York, London, and Singapore, who have been transferred from Temasek’s credit &amp, cross solutions team. Nicolas Debetencourt, the CEO of Temasek, will be in charge of the world platform. He has been in charge of funds &amp and cross solutions at Temasek since 2016.

Temasek has invested in credit cards for more than ten years. Temasek established a credit &amp, cross solutions team in 2016 to develop its direct and indirect investments in order to exploit a wider range of opportunities in the personal credit market.

The new system will be in contrast to Seviora Group, Temasek property management company, which includes SeaTown Holdings International, which offers personal credit options in Asia.

When FinanceAsia reached out for more info, a Temasek director said that at this point the company had nothing to add to the media transfer. &nbsp,

The decision comes after BlackRock made the deal to purchase HPS Investment Partners, a worldwide record manager based in New York, for$ 12 billion earlier in the month. In the world, personal funds is rapidly expanding, with Asia Pacific not a case in point. &nbsp,

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HSBC confirms Asia, Middle East leadership under new structure | FinanceAsia

HSBC has confirmed a number of top positions in Asia and the Middle East as a result of its global restructuring to four running products. &nbsp,

Luanne Lim and Diana Cesar will continue to lead HSBC Hong Kong and Hang Seng Bank, according to the London-based bank’s chief executive officer ( CEO ), Georges Elhedery. Maggie Ng, mind of wealth and personal finance, Hong Kong, and Frank Fang, mind of commercial finance, Hong Kong and Macau, did report directly to Lim covering financial &amp, money submission and the commercial banking businesses both. The Hang Seng Bank business leaders did report immediately to Cesar.

In a December 5 news, the banks also confirmed that Selim Kervanci, who is now chief executive of Turkey, may become CEO of the Middle East from January 1, 2025, pending regulatory acceptance. Stephn Moss, HSBC’s mind of Middle East, North Africa and Turkey, is leaving the business at the end of the time.

Mohammed Marzouqi will continue as CEO of the United Arab Emirates, Kee Joo Wong may be as CEO of India, Mark Wang may be as CEO of mainland China, and Hitendra Dave may be as CEO of the United Arab Emirates.

Co-chief professionals Surendra Rosha and David Liao, who oversee HSBC’s Asia and Middle East businesses, are in charge of the company’s Middle East and Asia Pacific operations. In his power as Asia and Middle East’s key business agent, Phillip Fellowes will continue to support Liao and Rosha with a focus on the Hong Kong company.

For the bank’s new arm, Corporate and Institutional Banking ( CIB ), Jo Miyake, interim CEO and chief commercial officer, HSBC Global Commercial Bamking, has been named head of banking, Asia and Middle East, overseeing client relationships and driving collaboration across regions and businesses. She may start in January.

Sir Danny Alexander will be based in London as the company’s CEO of equipment financing and conservation. &nbsp,

Even in Asia, Kai Zhang has been appointed&nbsp, as head of global success and top banks, Asia. Zhang is currently the head of South and Southeast Asia’s wealth and personal banking ( WPB).

Annabel Spring CEO, world private banks and riches, is leaving the bank at the end of the year to “pursue another possibilities”, while Nicola Moreau will remain as CEO, property management, and Ed Mocreiffe as CEO, plan. &nbsp,

For the complete list of changes at the London-headquartered banks made in the news, see below.

Click here for more FinanceAsia people movements. &nbsp,

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EdgePoint’s Suresh Sidhu highlights towerco role in ASEAN’s digital revolution

  • Towerco&nbsp, expands local footprints with 15k&nbsp, locations across ASEAN
  • Region’s youth-driven mobile-first society energy 5G and 4G development

EdgePoint founder and CEO, Suresh Sidhu believes collaboration is key to unlocking efficiencies and driving sustainable growth in the region.

EdgePoint’s Suresh Sidhu highlights towerco role in ASEAN’s digital revolution” ASEAN is very mobile-centric. Even in nations like Malaysia, where broadband penetration is over 50 %, mobile devices account for 30 % of web traffic, according to Suresh Sidhu ( pic ), CEO and founder of EdgePoint Infrastructure Sdn Bhd, in his keynote address at the TowerXchange Meetup Asia 2024 in Kuala Lumpur last week. ” Our fresh, tech-savvy people pulls this. With 25 % of ASEAN’s people under the age of 18, smart is the private wifi of every individual”.

Suresh used these insights to frame the critical role of tower companies ( towercos ) in enabling Southeast Asia’s connectivity revolution. His presentation, Positioning to Win: Towercos Place in Digital ASEAN, outlined the possibilities and difficulties that the business faces as it transitions to 5G and above.

ASEAN’s communication progress through cooperation

He remarked that” shared networks are fundamental to everything that is happening today,” citing collaboration between mobile network operators ( MNOs ) and infrastructure providers. He praised Malaysia’s long history of network discussing, that began in the early 2000s, as a model for different countries in the region.

EdgePoint System has been at the frontline of this move, operating over 15, 000 buildings in Malaysia, Indonesia, and the Philippines, and supporting 25, 000 residents. The business has delivered 500 build-to-suit buildings for Indonesia’s IOH besides running 10, 800 buildings it, and manages 2, 900 places in the Philippines, with 450 fresh requests for build-to-suit and coworking received this year alone.

In its home business of Malaysia, the business operates 1, 500 buildings serving 3, 400 landlords, with potential opportunities planned to tackle urban and suburban communication needs.

Sandy emphasized that sharing shared infrastructure shortens the time to roll out, especially in underserved areas, and reduces duplication. Collaboration is essential to unlocking efficiency and fostering green growth in the area.

4G’s enduring part in a 5G time

While 5G is a key focus for institutions and users, the continued necessity of 4G system cannot be overlooked. ” You can’t manage a great 5G network without wonderful 4G”, Sandy explained. ” In truth, 4G will be the 2G of tomorrow, especially in areas like Indonesia where covering large, complex regions takes moment”.

Strong 4G sites are a necessity because ASEAN relies on portable devices for both personal and professional communication. ” When a man drops from 5G to 4G, the experience must be seamless”, he said, pointing to the position of demographic changes in shaping system desire, noting that young populations across ASEAN are natural adopters of mobile-first technologies.

The opportunities and challenges for Towercos

Suresh outlined the importance of reliability, speed, and innovation in meeting MNO demands. Towercos must focus on providing holistic solutions that are tailored to the needs of the operator rather than just providing infrastructure. ” Scale is necessary, but skill sets you apart”.

He also cited potential opportunities for towercos in nearby industries. ” Adjoining sectors like micro-edge data centres, fibre integration, and IoT offer immense potential”, he said, though this is over the longer term where many more sites will be needed.

” It’s about the expansion of the network and AI to the edge as well as machine and private networks, such as for municipal parking, infra monitoring, etc..”

Towercos managing power for sites is also becoming more popular, which could make things easier for MNOs while lowering costs.

Suresh noted that the demands on networks will increase as data consumption increases and artificial intelligence becomes more prevalent in daily life. He contends that towercos must make plans to support the growth of data traffic while maintaining effectiveness.

” You must have indomitable will. Be persistent, consistent, and committed”, he stressed, urging the industry to remain resilient in the face of rapid technological advancements and evolving market conditions.

As AI adoption, data consumption, and 5G rollouts accelerate, towercos like EdgePoint Infrastructure are positioned to play a pivotal role in shaping ASEAN’s digital future. The challenges remain, but the opportunities to drive connectivity and innovation are greater than ever, and EdgePoint intends to be a key player with Sesh’s call to action.

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Indonesia’s Apple tussle no way to build a tech hub – Asia Times

Indonesia’s new fight with Apple over phone 16 sales offers a revealing windows into the Prabowo government’s emerging business and business plan.

President Prabowo Subianto wants to turn Indonesia from a merely consumer business into a high-tech production gateway, just like his father Jokowi. However, the conflict shows a basic connect between Indonesia’s desires and its implementation.

The conflict started in October when Indonesia prohibited sales of the iPhone 16 due to Apple’s failure to comply with rules mandating 40 % local developing content. In response, Apple made an initial investment offer of US$ 10 million to establish a mill in Bandung in collaboration with its suppliers, which was later upgraded to$ 100 million, including plans for research and development features and accessory part production.

Industry Minister Agus Gumiwang Kartasasmita argued that the plan “has never met principles of justice,” while economy minister Agus Gumiwang Kartasasmita rebuffed it. On the surface, Indonesia’s status seems fair. With 280 million people, Southeast Asia’s largest economy doesn’t want to be only another consumer market for technology companies.

The government might point to Samsung’s at least$ 20 billion in investments and Oppo’s expanding presence as proof that major companies can meet their terms. Indonesia’s desire to advance up the value chain and establish local manufacturing capabilities is both reputable and proper.

Southeast Asia’s largest economy may normally be a desirable target as global supply chains deteriorate and businesses look for alternatives to China. However, the president’s aggressive approach to achieving these goals may become counterproductive.

Without fostering true technological growth or technology transfer, mandating regional assembly without the ecosystem necessary for significant manufacturing can lead to superficial compliance, with products only being assembled enough to meet origin requirements.

The phone policy’s usefulness is also unclear. Apple dominates Indonesia’s smartphone market by only 2 %, and wealthy people can buy products in nearby nations like Singapore or Malaysia.

There’s good considerable overlap between possible phone 16 customers and people who often travel to these adjacent countries, limiting the plan’s leverage.

Indonesia’s difficulties become obvious when comparing them to Vietnam, a local competition that has properly attracted high-tech production. Vietnam, with a smaller community, hosts 35 Apple providers compared to Indonesia’s one part manufacturer and has established itself as a gateway for global supply chains.

Labor costs are significantly lower, with Hanoi’s minimum wage at$ 190 monthly compared to Jakarta’s$ 325. The country has also built world-class infrastructure, with three seaports ranked among the global top 50 for cargo throughput—Ho Chi Minh City ( 26th ), Hai Phong ( 33rd ), and Cai Mep ( 50th ) —compared to just one from Indonesia.

Also, Vietnam’s 17 free trade agreements have enhanced its inclusion into global supply chains, making it a more interesting place for manufacturing opportunities.

China offers another convincing case. Through laws like mandating joint ventures between foreign and domestic companies, it succeeds in fostering tech transfer and capacity-building.

As a problem for marketplace access, these requirements made overseas companies share technologies with local partners, making it necessary for Chinese firms to get advanced technologies and expertise. Apple CEO Tim Cook has apparently stated that the company may increase investment and support provide chain development perhaps this year despite rising political risks.

Similar to Vietnam, it has worked to foster partnerships between foreign investors and local businesses to promote tech shift by putting in place clear regulatory frameworks, providing incentives for high-tech industries, and promoting business climates.

The government estimates Apple generated 30 trillion rupiah ($ 1.9 billion ) from product sales in Indonesia last year. Indonesia risks deterring the pretty investment it wants to get by adopting such an intense position without creating necessary conditions for manufacturers.

The rejection of Apple’s$ 100 million expense is likely to be perceived by many as rigidity or exaggerated governance, potentially deterring another foreign investors.

Despite being the fourth-largest nation in the world, Indonesia is now struggling to gain respect internationally. The nation needs more than just sporadic displays of regulatory force to improve its standing and draw valuable investment.

It requires a complex framework for utilizing economic leverage that combines international business interests with domestic development objectives.

President Prabowo’s presidency appears to be at a juncture. Indonesia has an opportunity to place itself carefully in light of big markets turning inwards and shifting global supply chains.

But this requires moving beyond oppressive laws toward creating real dynamic advantages—streamlining rules, developing system, and fostering tech transfer through incentives rather than demands.

In an age of fragmenting global supply chains and shifting energy relationships, fresh market sizing isn’t enough—it’s how you utilize it that matters. Indonesia’s development as a hub for manufacturing depends not on imposing restrictions on investment through market access, but rather on creating an ecosystem that will inevitably draw and retain it.

Asher Ellis is a pupil at Yale University.

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‘Kebaya’ wins Unesco listing after 5-nation bid

After being suggested by five nations, including Thailand, the standard clothing worn by women in the South has been made an intangible cultural heritage product by Unesco.

According to Culture Minister Sudawan Wangsuphakijkosol, the decision was made at a conference of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage on Wednesday in Asuncion, Paraguay.

” Kebaya: knowledge, skills, tradition and procedures” was jointly proposed by Brunei, Indonesia, Malaysia, Singapore and Thailand to be added to the list of the Intangible Cultural Heritage of Humanity by the UN Educational, Scientific and Cultural Organization.

” It is a joy that the kebaya, an stylish southwestern costume, has been registered in the same year after tom yum fu, making it the sixth cultural identity piece of Thailand, following khon, Thai treatment, narrator, Songkran and tom yum kung“, Ms Sudawan said in a statement.

Kebaya, a traditional dress for women in the South, has been listed by the United Nations Educational, Scientific and Cultural Organisation (Unesco) Unesco as an Intangible Cultural Heritage of Humanity item for 2024. (Photo: Ministry of Culture)

A kebaya is a front-slit best featuring intricate needlework and ribbons, fastened with a clasp. It is typically worn on formal events and celebrations when it is combined with a costume.

According to the secretary, kebaya knowledge, expertise, traditions and practices are important to women of all ages, parts and religions from various communities in many countries in Southeast Asia.

” The dress reflects the country’s shared history and customs, as well as its cultural variety, contributing to the success of sustainable development goals such as superior knowledge, gender equality, inclusive economic growth, and harmony and social cohesion”, she said.

The government intends to advance the kebaya and tom yum fu as Thai soft power in fashion and food, both.

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New taxes for EVs

hybrid cars that can be shot in the arm

An electric vehicle charging outlet installed at the Fast Auto Show Thailand and EV Expo. (Bangkok Post file photo)
At the Fast Auto Show in Thailand and the EV Expo, an electric vehicle charging channel was installed. ( Bangkok Post file photo )

In response to a plan to convert internal combustion engines to electric power, the national committee responsible for promoting the electric vehicle ( EV ) industry has approved a new car tax structure to support the production of hybrid vehicles.

Narit Therdsteerasukdi, secretary-general of the Board of Investment, said the National Electric Vehicle Policy Committee ( EV Board ) chaired by Prime Minister Paetongtarn Shinawatra yesterday approved an adjustment of the auto tax structure for hybrid electric vehicles ( HEV ) and mild hybrid electric vehicles ( MHEV ) with no more than 10 seats.

He said,” The walk is intended to position Thailand as a hub for East Asian production of electric motorcycles and EVs.”

HEV manufacturers that make an additional expense of at least three billion ringgit from 2024 to 2027 and employ local parts will pay lower excise taxes, Mr. Narit said. Cars will also need to have advanced driver-assistance methods to count, he said.

The manufacturers will also need to comply with strict carbon dioxide ( CO2 ) emission requirements, he said.

From 2026 to 2032, vehicles with a CO2 per kilometer emission rate of 6 % will be required. For those emitting CO2 between 101-120g/km, the price will remain 9 % from 2026 -2032, he said. Under the ancient duty structure, excise taxes may increase 2 % every year after 2026, Mr Narit added.

For MHEV, cars emitting less than 100g of CO2 per kilometre will have an excise tax rate of 10 % from 2026-2032. For those emitting CO2 between 101-120g/km, the price may be 12 % from 2026-2032, he said.

According to Mr. Narit, the MHEV manufacturers will need to invest an additional$ 1 billion in 2026 and at least$ 5 billion in 2028, as well as use local components like the HEV, according to Mr. Narit.

In accordance with the so-called EV3 measure, which aims to encourage the growth of the EV industry, the EV Board also agreed to extend the production period of battery electric vehicles ( BEV ). The measure includes incentives, lower transfer taxes for completely assembled vehicles, and a tax cut.

Importers of Noel who are granted the privileges are required to produce vehicles in accordance with the current law’s requirement of one imported car per one produced by 2024. If they fail to do so by the date, the percentages may be 1: 1.5 in 2025.

But, between 2022 and 2023, about 84, 000 Vehicles were imported under the EV3 measure, which means 124, 000 cars may be produced in 2025.

But due to the current declining auto sales, the EV Board decided to extend the production time to support the companies, Mr Narit said.

Companies are also allowed to produce cars at a fraction of 1: 2 in 2026 and 1: 3 in 2027 under the new deal known as the EV3.5, which covers 2024 to 2027, but has fewer bonuses than the preceding design, he said.

Some EV manufacturers have recently expressed fears that locally produced vehicles under EV3.0 may have more expensive vehicles than imported ones under EV3.5, which puts them at a disadvantage in terms of price.

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Kebaya inscribed onto UNESCO intangible cultural heritage list

SINGAPORE: The kebaya has been properly inscribed onto the UNESCO representative&nbsp, record of the intangible cultural heritage of society.

This was announced on Wednesday ( Dec 4 ) at about 9.50pm Singapore time, after a meeting of the 24-member UNESCO intergovernmental committee ( IGC ) in Asuncion, Paraguay, said the National Heritage Board ( NHB) in a media release.

Members of at least 130 position events and recognized non-governmental organizations from the 2003 Agreement for the Safeguarding of the Intangible Culture Heritage witnessed the monument.

The kebaya was simultaneously nominated by five South Asian countries – Brunei, Indonesia, Malaysia, Singapore and Thailand – and is the largest election from Southeast Asia to day in terms of naming places.

The five nations collaborated on a nomination for the first time because it honors our shared cultural personality, promotes cross-cultural understanding, and continues to be worn by several communities in Southeast Asia, deliberately produced, and produced,” NHB said.

The election met all five of the IGC’s five analysis standards. The selecting nations received praise for the level of community involvement during the election process, both at the national and regional levels.

They were also praised for” the cohesion in acknowledging ( the ) kebaya as a unifying element that connects diverse cultures and communities that cross geographical boundaries,” according to NHB.

Minister for Culture, Community and Youth Edwin Tong, who is also the president of the Singapore National Commission for UNESCO, &nbsp, called the monument” a step to become celebrated”.

These five countries have joined forces to celebrate the kebaya as a representation of our shared history and cultural identification for the first time.

Its inclusion on the UNESCO list serves as a way to encourage cross-cultural knowledge and harmony in Singapore and the entire region, in addition to acknowledging its historical significance.

The record, which was created by UNESCO in 2008, consists of intangible cultural heritage components from various nations.

It aims to raise awareness of the value of these emotions and procedures, foster dialogue that respects cultural diversity, and give a due respect to the techniques and expressions of communities around the world.

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Russia rears its head vis-a-vis Philippines in South China Sea – Asia Times

Philippine President Ferdinand Marcos Jr. has described the presence of a Russian attack submarine in his nation’s exclusive economic zone ( EEZ ) in the South China Sea as “very worrisome” in a potential escalation of great power rivalry there.

On November 28, a&nbsp, &nbsp, Russian Kilo-class underwater was sighted just 80 coastal miles off the eastern Spanish territory of Occidental Mindoro. &nbsp,

” That’s very concerning. Any intrusion into the West Philippine Sea, of our EEZ, of our baselines, is very worrisome”, the Filipino president told reporters on Monday ( December 2 ).

The Russian underwater soon became known as UFA 490 and clarified its non-lethal purpose when the Philippine military fleet Jose Rizal made radio contact with it in response to the incursion.

Without providing any further details, Philippine Navy spokesman Roy Vincent Trinidad stated in a speech that the Soviet vehicle” stated it was awaiting improved weather conditions before going to Vladivostok, Russia.” &nbsp,

Admiral Trinidad tried to downplay the incident as” not alarming”, in apparent contradiction to Marcos Jr’s statement, but underscored how the Philippines was” surprised because this is a very unique submarine” .&nbsp,

Russia’s official in Manila did no comment on the matter despite press inquiries. Is it still unclear whether the Russian submarine was the updated version of the Kilo II ( Project 636.3 ) submarine from 2014 to 2016?

However, according to Russian media outlets, the 74-meter ( 243-foot ) long marine asset is armed with a missile system with a range of 12, 000 kilometers (7, 450 miles ). &nbsp,

Following a combined practice with the Malay army, the Russian submarine was headed back to Vladivostok, Russia’s east town, according to Philippine National Security Council official Jonathan Malaya. The practice came on the feet of historic&nbsp, Indonesia-Russia marine drills&nbsp, in the area last month.

Spanish authorities, following contact with the ship’s crew and appropriate Russian counterparts, reported that the submarine surfaced according to weather-related conditions. &nbsp,

Judicial intrusion

Major local experts are perplexed by the incident, and the legal context surrounding the Russian vessel’s presence in Philippine waters has also raised questions. &nbsp,

An attack underwater managing clearly and clearly in the high seas ( this is outside the territorial sea ) is not much of a threat, according to the report. Channels are for cunning and walk problems, not sailing on the surface”, Jay Batongbacal, a leading sea rules analyst based in Manila, &nbsp, wrote on his&nbsp, X accounts. &nbsp,

Foreign militaries are entitled to “innocent passage” across the Exclusive Economic Zone of coastal states under the UN Convention on the Law of the Sea ( UNCLOS), but doing so should not be done in vain.

And any military deployment across another state’s EEZ is no longer considered&nbsp, &nbsp, “innocent” if it represents “any threat or use of force against the sovereignty, territorial integrity or political independence of the coastal State” .&nbsp,

The UNCLOS has a special for submarines&nbsp, ( Article 20 ), which are required to ascertain their ‘ innocent passage’ by temporarily “navigat]ing ] on the surface…to show their flag”. The majority of UNCLOS members grant their 12 nautical miles of territorial waters the right to free section.

However, major countries such as India, China and Iran have imposed&nbsp, limits on the tuberculous presence&nbsp, of extraregional power perhaps across their EEZs. &nbsp,

For two main reasons, the Philippines is especially troubling by Russia. For one, Moscow and Beijing have declared a&nbsp,” no limits” partnership&nbsp, and simultaneously called for a’ new world order’, a strong alliance that has gained greater intensity following Russia’s war of Ukraine in 2022. &nbsp,

The two nations have also stepped up their&nbsp, defense cooperation&nbsp, in East Asia, including in fiercely disputed and geopolitically delicate waters. In July of this year, they&nbsp, conducted live-fire&nbsp, marine tasks in the South China Sea.

For the Philippines, Russia could possibly strengthen China’s growing military supremacy in the region, if never directly help the Asiatic power in the event of a disaster, including over Taiwan.

The Philippines is also concerned about Marcos Jr.’s deteriorating path of diplomatic ties. Recently, then-President Rodrigo Duterte made several trips to both Beijing and Moscow in a bid to build a new proper position.

The former Filipino president even described his Russian counterpart, Vladimir Putin, as&nbsp, his&nbsp, “favorite hero” &nbsp, and&nbsp, “idol”, &nbsp, underscoring the depth of their personal and friendly relations.

Encouraged by Duterte’s manner and sensing, Russia quickly stepped up defence cooperation with the Philippines, America’s only full-fledged common defense treaty ally in Southeast Asia.

Consequently, Russian&nbsp, vessels docked in Manila Bay for the first time in past. Duterte individually boarded one of the visiting Russian warships, where he&nbsp, called upon his friends from Moscow to remain “our ally to protect us “—yet another thinly veiled shot at the US, which was often the goal of Duterte’s criticism, sending diplomatic relations into a tailspin.

In another first, Russia also deployed&nbsp, a defense attaché&nbsp, to Manila to explore big-ticket defense deals, including&nbsp, the potential purchase&nbsp, of submarines. The strategic flirtation&nbsp, culminated in Russia’s delivery of firearms to the Philippine National Police ( PNP ), which Washington sanctioned over its human rights record, and a&nbsp, record$ 227 deal for acquisition of Russian helicopters.

However, Russia’s invasion of Ukraine and Duterte’s subsequent exit from office ushered in a new era of tensions between Manila and Moscow. While Duterte&nbsp, distanced himself&nbsp, from Putin’s war of aggression, his successor Marcos Jr punitively nixed a Russian Mi-17 helicopter deal in favor of American kit. &nbsp,

Throughout the ongoing war, the Philippines has also repeatedly voted in favor of Ukraine on important UN resolutions, much to Russia’s chagrin. Additionally, Marcos Jr. accepted an invitation to a Western-backed” Peace Summit” earlier this year in order to gain international support for Kyiv and was one of the few regional leaders to personally host Ukrainian President Volodymyr Zelensky. &nbsp,

The Ukrainian leader thanked the Philippine leadership for its” clear position” on Russia’s “occupation of our territories” and&nbsp, sought non-lethal assistance&nbsp, from the Philippines, especially in terms of healthcare professionals and post-war recovery.

Indeed, in many ways, Marcos Jr has positioned the Philippines as a core member of an emerging “alliance of democracies” facing off against the non-Western powers of Moscow and Beijing. &nbsp,

Russia flexing regional muscles

Putin’s Russia has withstanded a first round of Western sanctions and battlefield assaults, as evidenced by his earlier this year visits to Mongolia, North Korea, and Vietnam.

Russia is also determined to keep its footing in the regional defense markets while increasing joint exercises and military exports to numerous Asian nations, including Southeast Asia. &nbsp,

Russia and the Philippines may be on a collision course with the deployment of advanced missile systems in the future, especially as Washington makes preparations for possible conflicts with China over Taiwan.

In response to the Philippines ‘&nbsp, decision to semi-permanently host, &nbsp, if not purchase, the much-vaunted&nbsp, US Typhon missile system in its northern bases, China’s defense spokesperson, Senior Colonel Wu Qian, accused Manila of “intensif]ying ] geopolitical confrontation and escalat]ing ] tensions in the region”.

The Philippines should reconsider hosting American weapons systems, which have the capability to target southern Chinese military bases, has been reiterated by China’s People’s Liberation Army ( PLA ).

This week saw a full display of geopolitical tensions when the Philippine and the Chinese maritime forces engaged in yet another incident close to the disputed Second Thomas Shoal, with each side giving contradictory accounts of the near-clash.

Earlier this year, Russia warned Japan against deploying US-made missile units to&nbsp, Japan’s southwestern Kagoshima and Okinawa prefectures, which are close to Taiwan. Russia will consider deploying short- and intermediate-range missiles on its eastern borders in response to any significant US-backed missile buildup, according to deputy foreign minister Sergei Ryabkov. &nbsp,

Earlier this year, the Russian president also warned America’s” satellite state” allies to reconsider hosting any major American missile system. It is well known that the United States produces these missile systems and has already tested them in Denmark and Europe for exercises. Quite recently, it was announced that they are in the Philippines” .&nbsp,

The Philippines ‘ decision to host the US Typhon missile system and possibly even acquire it will likely stoke a tussle with Beijing as well as Moscow, which is averse to any significant US buildup on its eastern and western flanks.

The Philippines is suddenly at the center of a new Cold War conflict between China, Russia, and its authoritarian allies on one side and the US and its democratic allies on the other.

Follow Richard Javad Heydarian on X at @Rich Heydarian

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Bridge Data Centres, TNB sign MY07 400MW deal and green energy partnership, boosting Malaysia as a digital hub.

  • Contract signs M’sia’s fastest ESA supply for a cutting-edge data center
  • When completed, MY07 did meet country’s growing digital system needs

Bridge Data Centres, TNB sign MY07 400MW deal and green energy partnership, boosting Malaysia as a digital hub.

Bain Capital-backed Bridge Data Centres ( BDC ), a leading Southeast Asia-based hyperscale data centre solutions platform, has announced the signing of the MY07 Electricity Supply Agreement ( ESA ) with Malaysia’s leading energy solutions provider, Tenaga Nasional Berhad ( TNB).

This arrangement, which was finalized in a quicker period window, represents Malaysia’s quickest ESA delivery, argues TNB, to meet the urgent energy requirements of a cutting-edge data center. The two parties signed a Bilateral Energy Supply Contract ( BESC ) Head of Terms ( HOT ) under the Corporate Renewable Energy Supply Scheme ( CRESS).

The MY07 information center is BDC’s newest ability, currently under construction in Johor Ulu Tiram, Malaysia. When completed, MY07 will be a state-of-the-art hyperscale information center designed to cater to the state’s growing demand for digital system.

Speaking at the event, Megat Jalaluddin Bin Megat Hassan, President and CEO of TNB, emphasised the agency’s responsibility to delivering modern and sustainable energy solutions with a customer-centric method.

” Now marks a major step forward in our collaboration with Bridge Data Centers as we strengthen our shared efforts to accelerate Malaysia’s transition to energy. Through the TNB Green Lane Pathway program, combined with our One-Stop Centre solutions, we are happy to ensure rapid implementation of power solutions within only 12 months”.

He continued,” BDC becomes the first partner under the Corporate Renewable Energy Supply Scheme construction, a step that our wholly owned subsidiary, TNB Renewables Sdn Bhd, helped facilitate. Collectively, we are not only expanding Malaysia’s data center equipment but also advancing technology, conservation, and economic development for future generations”.

Meanwhile, Eric Fan, CEO of Bridge Data Centres, expressed his appreciation for TNB’s dedication and efficiency, stating:” The MY07 Electricity Supply Agreement is important in ensuring dependable power availability, enabling BDC to keep fast delivery timelines for our hyperscale data centre services and meet the powerful demands of our customers.

The Green Energy Partnership establishes a foundation for BDC’s operations to include clean energy, demonstrating TNB and BDC’s commitment to sustainability and coal decline. This partnership supports Malaysia’s efforts to transition to renewable energy and coincides with global trends in natural data center operations.

This partnership strengthens Malaysia’s status as a vibrant hub for data center operations in the area and underlines TNB’s excellence in providing high-quality energy solutions. By incorporating green power through the Green Energy Partnership, BDC is well-positioned to be at the forefront of sustainable development in the modern infrastructure sector.

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BRI’s recent award triumphs point to its focus on becoming a champion of financial inclusion | FinanceAsia

According to Sunarso, leader director, Bank Rakyat Indonesia ( BRI),” Tr I will continue to focus on the MSME section to realize its dreams of becoming the most important banks group in Southeast Asia and a champion of financial inclusion by 2025.” He continued,” As the nationwide economic structure is dominated by Enterprises, providing loans to MSME people is anticipated to have a significant positive impact on the Indonesian business.”

The 130-year-old company’s outstanding achievement in FinanceAsia Asia’s Best Businesses Poll 2024 and the FinanceAsia Awards demonstrate how focused this perspective is on BRI’s peers in the industry.

In FinanceAsia Asia’s Best Companies ballot, the banks won silver in the following categories: Best Director for Sunarso, leader director, BRI, Best Managed Company – Indonesia, and Best Investor Relations – Indonesia.

Additionally, BRI won bronze in the types of Best Big Cap Company in Indonesia and Best CFO in Indonesia for Viviana Dyah Ayu Retno K, Most Committed to DEI – Indonesia, Most Committed to ESG – Indonesia, and Best Big Cap Company – Indonesia.

The bank had a stellar run at the FinanceAsia Awards 2023-2024 winning Best Bank for Financial Inclusion ( Domestic ) and Best Commercial Bank- SMEs ( Domestic ), apart from securing commendations for Best Sustainable Bank ( Domestic ), Most Innovative Use of Technology – Banks ( Domestic )

View Sunarso, the president’s director ,’s acceptance speech, below.

¬ Capitol Media Limited. All rights reserved.

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