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

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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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Malaysia deepens economic ties with a Russia shunned over Ukraine invasion

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However, industry players said some companies may not want to get into business with Russia out of fear they would face trade obstacles given the ongoing sanctions.

For instance, the United States’ latest sanctions sought to further curtail Russia’s use of the international financial system.

Standardising currency used in business with Russia may therefore emerge as a challenge, noted chairman of the Small and Medium Enterprises Association of Malaysia William Ng.

Also, while Russia may have developed its own state-of-the-art software and information technology applications, they would be a hard-sell in Southeast Asia, he added. 

“We have been reliant on the American (and) European vendors for many years. To now shift the reliance to Russia as an option will take a bit of learning,” he said. 

“At the end of the day, we know what is the elephant in the room: That is the issue of Ukraine. Until and unless Russia solves it – and only Russia can solve this issue – everybody else will be at risk (of sanctions),” he added.

RELATIONS BETWEEN ASEAN AND RUSSIA

Still, Malaysia, which will take on the leadership of ASEAN next year, is eager to engage with Russia and BRICS member countries to diversify from its traditional markets, while maintaining ASEAN centrality amid intense superpower rivalries.

Already, ASEAN has benefitted from its trade ties with Russia.

In 2023, Russia’s trade turnover with ASEAN grew by 15 per cent from the previous year. 

The BRICS grouping, which was formed to act as a counterweight to the West and originally comprised Brazil, Russia, India, China and South Africa, added 13 partner countries in October, including ASEAN nations Malaysia, Vietnam, Indonesia and Thailand. 

ASEAN, with a combined GDP of almost US$4 trillion, is the fifth-largest economy in the world. 

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Energy key to push for digital hub plan

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Big resource questions ahead in AI era, says Bangchak’s CEO

PUBLISHED : 2 Dec 2024 at 04:30

Chaiwat Kovavisarach, Group Chief Executive Officer and President of Bangchak Corporation Plc, delivers a keynote presentation titled "AI, Energy, and the Environment" at the 14th Greenovative Forum to mark Bangchak's 40th anniversary at True Digital Park West in Bangkok on Nov 29. Bangchak Corporation
Chaiwat Kovavisarach, Group Chief Executive Officer and President of Bangchak Corporation Plc, delivers a keynote presentation titled “AI, Energy, and the Environment” at the 14th Greenovative Forum to mark Bangchak’s 40th anniversary at True Digital Park West in Bangkok on Nov 29. Bangchak Corporation

The state’s ambitious goal to make Thailand a digital economic hub in Southeast Asia, driven by the growth of domestic data centre and cloud service businesses, may be achieved at the cost of huge resources.

These facilities are crucial for artificial intelligence (AI), which is playing a bigger role in a variety of jobs from optimising production plans for factories to driving sales for retail businesses.

The growth of AI leads to the need for more data centre and online infrastructure, which increases demand for electricity, said Chaiwat Kovavisarach, group chief executive officer and president of energy conglomerate Bangchak Corporation Plc. He recently introduced participants in the Greenovative Forum to a key aspect of AI: the need for a substantial volume of electricity for the smooth working of data centres and cloud platforms.

How much power these facilities need, where additional electricity will be produced and whether networks of computers can consume less power are key questions that must be addressed for the AI era. Mr Chaiwat offered some solutions as Thailand promotes investment in data centre and cloud service businesses. US companies — Alphabet, parent firm of Google, and Equinix — have announced investment plans here, among others.

Foreign and Thai companies in data centre and cloud service businesses have submitted 47 proposals worth 173 billion baht to the Board of Investment seeking incentive packages. As investment in these businesses gains momentum, the energy issue will only grow more important.

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Israel warns citizens of terror threat in Southeast Asia with focus on Thailand

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PUBLISHED : 1 Dec 2024 at 10:13

People carry the coffin of Israeli rabbi Zvi Kogan, who was found murdered in the United Arab Emirates, during his funeral in Kfar Habad, Israel, on Monday. (Photo: Reuters)
People carry the coffin of Israeli rabbi Zvi Kogan, who was found murdered in the United Arab Emirates, during his funeral in Kfar Habad, Israel, on Monday. (Photo: Reuters)

Israel warned its citizens that the threat of terrorism against them in Southeast Asia has intensified. 

Israel’s National Security Council said on Saturday it received intelligence that those responsible for the Nov 21 murder of Rabbi Zvi Kogan in Dubai are planning additional terrorist activities in Southeast Asia, with a particular focus on Thailand.

The United Arab Emirates arrested three suspects they say were involved in the killing of the Israeli-Moldovan rabbi whose body was found on Nov 24, days after he was reported missing in Dubai. 

Investigations into the murder of Kogan are still underway, the UAE Ministry of Interior said on Monday, according to state news agency WAM.

“The UAE and its institutions are fully committed to safeguarding the safety and security of its citizens, residents, and visitors,” the ministry said. No detail was provided on the identity of the suspects. 

Security authorities in the UAE had earlier located the body of Kogan, the Israeli Prime Minister’s Office said, calling his apparent murder an “abhorrent act of antisemitic terrorism.” 

“The State of Israel will use all means, and will deal with these murderers, and those who dispatched them, to the fullest extent of the law,” Prime Minister Benjamin Netanyahu said during a cabinet meeting on Nov 24. “None of them will get away.”

Israel said it’s reinforcing its recommendation to avoid non-essential travel to the UAE. It also recommended avoiding businesses and gathering places identified with the Israeli and Jewish population, avoiding posting travel details on social media, and reducing movement.

The White House said the killing “was an assault as well on UAE and its rejection of violent extremism across the board.”

“We commend the rapid efforts of UAE authorities who now have suspects in custody,” US National Security Council spokesperson Sean Savett said in a statement. “Those who carried out this crime, and anyone supporting them, must be held fully accountable.” 

“There is concern that there is still a threat on the ground against Israeli and Jews in the area,” the US National Security Council said. 

Since the start of the Israel-Hamas war in October 2023, the Israeli government has warned its citizens traveling abroad of possible attacks by Iranian or Iran-backed operatives. It’s raised the alert level in dozens of countries, including the UAE.

Netanyahu said that he appreciates the cooperation of the UAE in investigating the Kogan’s disappearance and death.  d“We will strengthen the ties between us in the face of attempts by the axis of evil to harm the relationship of peace between us,” Netanyahu said. “We will strengthen them and we will work to expand regional stability.”

Kogan, 28, had been living in the UAE as an emissary of Chabad-Lubavitch, a Jewish organisation. He’d been working for several years, together with colleagues, on “establishing and expanding Jewish life in the Emirates,” including making kosher food widely available, according to a Chabad website. He was joined there by his wife, Rivky, after their marriage in 2022. 

“This vile antisemitic attack is a reminder of the inhumanity of the enemies of the Jewish people,” Israeli President Isaac Herzog said in a post on X. “It will not deter us from continuing to grow flourishing communities in the UAE or anywhere.”

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Critics question Laos dam project

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An aerial view of the section of the Mekong River where the controversial Pak Beng hydropower dam project would be built, in Oudomxai province of Laos. (Photo supplied)
An aerial view of the section of the Mekong River where the controversial Pak Beng hydropower dam project would be built, in Oudomxai province of Laos. (Photo supplied)

Environmentalists have raised concerns about a 100-billion-baht dam project on the lower section of the Mekong River in Laos, warning of adverse effects on the livelihoods of those living on both sides of the Thai-Lao border.

The Pak Beng hydropower dam project is one of 11 planned for the lower Mekong.

It is part of Laos’ economic strategy to become the “Battery of Southeast Asia” by selling hydropower to neighbouring countries.

Located in Pak Beng district, Oudomxay province, about 90 kilometres from the border with Chiang Rai, the run-of-river dam will be designed to produce 912 megawatts of electricity.

Work is expected to take eight years, with electricity sales to the Electricity Generating Authority of Thailand (Egat) slated to begin in 2033.

Cross-border impacts

A transboundary environmental impact assessment (TBEIA) has been underway to study the dam’s potential effects on both countries, with findings to be presented to Egat before financing is finalised.

However, local communities, academics, and civil groups in Thailand have opposed the project for years, citing inadequate public consultation and outdated environmental studies.

Pianporn Deetes, regional campaign director of International Rivers, said a recent survey showed work on the dam had not yet begun, apart from a bridge and access roads.

In Laos, authorities have told residents of impending relocations to accommodate the dam.

Ms Pianporn criticised the environmental study supporting the project as outdated and said it underestimated the number of people likely to be affected.

She also noted insufficient public participation in planning and raised concerns about higher electricity bills in Thailand resulting from Egat’s 29-year power purchase agreement.

“Banks providing loans are waiting for the TBEIA results. We hope the study addresses broader impacts, ensures stakeholder participation, and considers rising electricity costs,” she said.

Pianporn: Building has not yet begun

Pianporn: Building has not yet begun

Flooding and ecology

Flooding is another major concern.

Severe floods in northern Thailand, including Chiang Rai, in recent months have heightened fears the dam could worsen future flood scenarios by slowing the flow of Mekong tributaries.

Ms Pianporn added that civil groups have asked for a mathematical model to assess potential flooding impacts on residents and farmlands but have received no response.

Locals in Chiang Rai’s Chiang Khong, Wiang Kaen, and Chiang Saen districts have voiced fears about water backing up from the dam, which could inundate homes and farmland.

Legal and governance challenges

Sor Rattanamanee Polkla, a lawyer with the Community Resource Centre, highlighted legal loopholes in Thai law, which lacks requirements for transboundary impact assessments.

The Supreme Administrative Court rejected an appeal against the dam in 2021, ruling Thailand has no jurisdiction over projects in Laos.

“This legal gap shows Thailand cannot govern projects outside its borders, even when they affect Thai communities,” she said, adding the TBEIA is being conducted under Lao laws, raising concerns about the scope and inclusivity of the study.

After the lower court rejected their case, the groups appealed to the Supreme Administrative Court.

However, the court ruled Thailand does not have a law requiring transboundary impact assessments, and so has no jurisdiction over projects located within Laos.

Ms Sor Rattanamanee said the transboundary environmental impact assessment (TBEIA) will be submitted to Lao authorities for approval.

It is unclear to what extent ordinary Thais as opposed to Egat will get a say in the process, especially as they lack jurisdiction, she said..

“We do not know how the TBEIA is being conducted or to what extent it will cover impacts on Thailand,” she said.

Sor: Little Thailand can do

Sor: Little Thailand can do

Call for wider impact assessments

Hannarong Yaowalers, an adviser to the Thai Water Partnership Foundation, stressed the importance of incorporating feedback from all stakeholders.

He criticised the TBEIA for focusing only on areas near the site in Laos and neglecting areas in Thailand which could also be affected, such as Chiang Khong and Wiang Kaen districts in Chiang Rai.

“Egat must ensure the TBEIA covers broader assessments, including impacts on fisheries, natural resources, and social issues, as part of its power purchase agreement requirements,” he said.

“As far as we know, Egat does not include these as part of its requirements,” Mr Hannarong said. Activists would keep an eye on progress to make sure their concerns were addressed.

Critics also said the planned purchase of electricity was unnecessary as the country has more than enough power in reserve.

Energy demand questioned

Critics argue the additional power that would be generated by the dam is unnecessary.

Surichai Wankaew, an emeritus professor at Chulalongkorn University, said Thailand already has 69% of power in reserve.

The Pak Beng project continues to face scrutiny from civil groups and environmental advocates, who are urging authorities to reconsider the dam’s long-term implications for the region’s ecology, livelihoods, and energy needs.

The Mekong River Commission (MRC) is an intergovernmental agency that collaborates with the governments of Laos, Cambodia, Thailand, and Vietnam to manage the Mekong’s resources.

Advocacy groups have criticised an original community survey by Thai agencies for being flawed in terms of legal compliance, lacking adequate assessments of transboundary environmental, health, and social impacts.

Hannarong: Feedback essential

Hannarong: Feedback essential

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Critics question Laos dam project’s impact on Thailand

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An aerial view of the section of the Mekong River where the controversial Pak Beng hydropower dam project would be built, in Oudomxai province of Laos. (Photo supplied)
An aerial view of the section of the Mekong River where the controversial Pak Beng hydropower dam project would be built, in Oudomxai province of Laos. (Photo supplied)

Environmentalists have raised concerns about a 100-billion-baht dam project on the lower section of the Mekong River in Laos, warning of adverse effects on the livelihoods of those living on both sides of the Thai-Lao border.

The Pak Beng hydropower dam project is one of 11 planned for the lower Mekong.

It is part of Laos’ economic strategy to become the “Battery of Southeast Asia” by selling hydropower to neighbouring countries.

Located in Pak Beng district, Oudomxay province, about 90 kilometres from the border with Chiang Rai, the run-of-river dam will be designed to produce 912 megawatts of electricity.

Work is expected to take eight years, with electricity sales to the Electricity Generating Authority of Thailand (Egat) slated to begin in 2033.

Cross-border impacts

A transboundary environmental impact assessment (TBEIA) has been underway to study the dam’s potential effects on both countries, with findings to be presented to Egat before financing is finalised.

However, local communities, academics, and civil groups in Thailand have opposed the project for years, citing inadequate public consultation and outdated environmental studies.

Pianporn Deetes, regional campaign director of International Rivers, said a recent survey showed work on the dam had not yet begun, apart from a bridge and access roads.

In Laos, authorities have told residents of impending relocations to accommodate the dam.

Ms Pianporn criticised the environmental study supporting the project as outdated and said it underestimated the number of people likely to be affected.

She also noted insufficient public participation in planning and raised concerns about higher electricity bills in Thailand resulting from Egat’s 29-year power purchase agreement.

“Banks providing loans are waiting for the TBEIA results. We hope the study addresses broader impacts, ensures stakeholder participation, and considers rising electricity costs,” she said.

Pianporn: Building has not yet begun

Pianporn: Building has not yet begun

Flooding and ecology

Flooding is another major concern.

Severe floods in northern Thailand, including Chiang Rai, in recent months have heightened fears the dam could worsen future flood scenarios by slowing the flow of Mekong tributaries.

Ms Pianporn added that civil groups have asked for a mathematical model to assess potential flooding impacts on residents and farmlands but have received no response.

Locals in Chiang Rai’s Chiang Khong, Wiang Kaen, and Chiang Saen districts have voiced fears about water backing up from the dam, which could inundate homes and farmland.

Legal and governance challenges

Sor Rattanamanee Polkla, a lawyer with the Community Resource Centre, highlighted legal loopholes in Thai law, which lacks requirements for transboundary impact assessments.

The Supreme Administrative Court rejected an appeal against the dam in 2021, ruling Thailand has no jurisdiction over projects in Laos.

“This legal gap shows Thailand cannot govern projects outside its borders, even when they affect Thai communities,” she said, adding the TBEIA is being conducted under Lao laws, raising concerns about the scope and inclusivity of the study.

After the lower court rejected their case, the groups appealed to the Supreme Administrative Court.

However, the court ruled Thailand does not have a law requiring transboundary impact assessments, and so has no jurisdiction over projects located within Laos.

Ms Sor Rattanamanee said the transboundary environmental impact assessment (TBEIA) will be submitted to Lao authorities for approval.

It is unclear to what extent ordinary Thais as opposed to Egat will get a say in the process, especially as they lack jurisdiction, she said..

“We do not know how the TBEIA is being conducted or to what extent it will cover impacts on Thailand,” she said.

Sor: Little Thailand can do

Sor: Little Thailand can do

Call for wider impact assessments

Hannarong Yaowalers, an adviser to the Thai Water Partnership Foundation, stressed the importance of incorporating feedback from all stakeholders.

He criticised the TBEIA for focusing only on areas near the site in Laos and neglecting areas in Thailand which could also be affected, such as Chiang Khong and Wiang Kaen districts in Chiang Rai.

“Egat must ensure the TBEIA covers broader assessments, including impacts on fisheries, natural resources, and social issues, as part of its power purchase agreement requirements,” he said.

“As far as we know, Egat does not include these as part of its requirements,” Mr Hannarong said. Activists would keep an eye on progress to make sure their concerns were addressed.

Critics also said the planned purchase of electricity was unnecessary as the country has more than enough power in reserve.

Energy demand questioned

Critics argue the additional power that would be generated by the dam is unnecessary.

Surichai Wankaew, an emeritus professor at Chulalongkorn University, said Thailand already has 69% of power in reserve.

The Pak Beng project continues to face scrutiny from civil groups and environmental advocates, who are urging authorities to reconsider the dam’s long-term implications for the region’s ecology, livelihoods, and energy needs.

The Mekong River Commission (MRC) is an intergovernmental agency that collaborates with the governments of Laos, Cambodia, Thailand, and Vietnam to manage the Mekong’s resources.

Advocacy groups have criticised an original community survey by Thai agencies for being flawed in terms of legal compliance, lacking adequate assessments of transboundary environmental, health, and social impacts.

Hannarong: Feedback essential

Hannarong: Feedback essential

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Deeper Dive: What’s behind Thailand’s flooding?

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Watch or listen to the latest episode Bangkok Post’s “Deeper Dive” podcast

PUBLISHED : 29 Nov 2024 at 08:47


In the second half of 2024, 42 out of the 77 Thai provinces faced flooding. At least 50 people were killed and billions of baht were lost in damages to property and farmland.

The flooding was particularly severe in the northern provinces of Chiang Rai and Chiang Mai. In the central district of Chiang Mai, the Ping River overflowed for the first time. Thousands were evacuated by boat.

So what caused it all? The release of water from hydropower dams upstream, particularly in China and Laos, causes acute flooding and erodes the river banks.

Encroachment on the river – by building structures next to the banks or that jut into the river itself – blocks drainage and prevents construction of flood barriers.

But the larger issue is deforestation, partly for mining activities but mostly to plant feed crops for animal agriculture. Forests don’t just absorb carbon, they also absorb water, and when we cut them down, the water cascades down the fields, taking the topsoil with it and causing the invasion of mud we’ve seen this year. 

To unpack the layers of Thailand’s flood crisis, Dave Kendall speaks with “Pai” Pianporn Deetes, campaign director for the Southeast Asia Programme at International Rivers, on the latest episode of Bangkok Post’s “Deeper Dive” vodcast.

Press “Play” below or search for “Deeper Dive Thailand” wherever you get your podcasts.

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Commentary: Singapore’s historical weather records can help us prepare for climate change

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HISTORICAL RECORDS, MODERN SCIENCE

Humanity has been gathering weather data for centuries. In fact, some of the oldest records, found in places like China, Japan and Korea, date back thousands of years, documenting rainfall, snow patterns and the timing of flowers blossoming or ice melting.

Rain and snow gauges are relatively simple devices. Precision instruments such as thermometers and barometers only came about after the 1600s, but even then, they did not follow modern scales of measurement.

The biggest technological shift was in the 1800s. Weather records became far more reliable and standardised thanks to the rise of modern measuring instruments and international agreements enforcing the adoption of recognised scales.

Whenever scientists make declarations about the hottest year on record, they use weather records that date to the 1880s, when measuring instruments and scales are considered more compatible with modern quality control and calibration methods.

However, historical weather records are not always easy for scientists to access. Scattered across archives, institutions and private collections around the world, these datasets are hidden gems waiting to be uncovered.

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