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CHINA

CHINA TO STRENGTHEN DELISTING RULES TO IMPROVE STOCK MARKET HEALTH

China has issued a draft of new rules to get loss-making companies or those in violation of regulatory practices to delist, in its latest move to improve stock market conditions. Full story here.


HONG KONG

CONSULTATION DOCUMENT ON REVIEW OF THE HOTEL AND GUESTHOUSE ACOMMODATION ORDINANCE

The Home Affairs Department has announced that it has launched a public consultation on the Review of the Hotel and Guesthouse Accommodation Ordinance. Comments by August 28, 2014. Full story here.

 

LEGAL MEETING HELD IN MACAU

A meeting between HK Secretary for Justice Rimsky Yuen and Macau Secretary for Administration & Justice Florinda Chan has been held in Macau on July 4, 2014 to discuss the reciprocal juridical assistance issues between HK and Macau. Full story here.


INDONESIA

TAX BREAKS TO KEEP FUNDS IN RI

The government has revealed the details of its plan to introduce tax incentives for foreign companies that do not repatriate their earnings overseas, a policy aimed at shielding Indonesia from seasonal capital outflows that exert pressure on the current account. Full story here.

 

GOVERNMENT PLANS STATE BUDGET FOR 2015

The Government has announced its plan to include state capital participation (penyertaan modal negara) in state-owned enterprises following recent crystal balling on Indonesia's economic condition in 2015. This plan was revealed during initial discussions on the 2015 Draft State Budget (2015 RAPBN) by Hadiyanto, Director General of State Assets at the Ministry of Finance. Full story here.


JAPAN

SQUIRE PATTON BOGGS COMBINES WITH TOKYO LAW FIRM

Squire Patton Boggs has strengthened its presence in Japan, combining with Tokyo-based law firm Mamiya Law Offices. Full story here.


KOREA

SOUTH KOREA AND TURKEY REACH DE FACTO FREE TRADE AGREEMENT FOR SERVICE, INVESTMENT

South Korea and Turkey have reached a de facto agreement for free trade in the investment and service sectors, the trade ministry has announced on July 7, 2014. Full story here.

 

NORTH KOREA CALLS ON SOUTH KOREA TO ACCEPT PEACE OVERTURE

North Korea has called on South Korea to accept its proposal of "peace overture," which includes a call for a suspension of all hostile activities. Full story here.

 

KOREA-US TIES FACE XI FACTOR

Chinese President Xi Jinping's visit to Korea has triggered a number of changes to the ROK-U.S. alliance and Beijing-Pyongyang ties. Full story here.

 

GOVERNMENT MAY CUT TAX BENEFITS FOR MORE REVENUE

The Korean government has planned to scale down tax benefits enjoyed by large conglomerates and high-income earners to counter a shortage in tax revenue. Full story here.


MYANMAR

YULCHON OPENS IN MYANMAR

Yulchon has opened its doors in Yangon to capitalise on an increasing amount of investment from Korean companies into Myanmar. Full story here.

 

PRESIDENT HE U THEIN SEIN APPOINTED U SOE LWIN AS AMBASSADOR EXTRAORDINARY AND PLENIPOTENTIARY OF MYANMAR TO THE REPUBLIC OF KOREA

U Soe Lwin has been appointed as Ambassador Extraordinary and Plenipotentiary of the Republic of the Union of Myanmar to the Republic of Korea on July 6, 2014. Full story here.

 

ASEAN SHOULD ADDRESS VIOLENCE IN MYANMAR

The President of the International Movement for a Just World Dr Chandra Muzaffar has said that the Association of Southeast Asian Nations (ASEAN) needs to address the issue of persecution against Muslims in Myanmar. Full story here.


PHILIPPINES

END-JUNE 2014 GIR RISES TO USD80.7 BILLION

Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr has announced on June 7, 2014 that preliminary data showed that the gross international reserves (GIR) of the Philippines rose to USD 80.7 billion as of the end of June 2014. Full story here.

 

PDIC ADVISES BORROWERS OF ASIAN CONSUMERS BANK TO PAY THEIR OBLIGATIONS

The Philippine Deposit Insurance Corporation (PDIC) has reminded borrowers of Asian Consumers Bank (A Rural Bank), Inc to continue paying their loans and transact only with authorized PDIC representatives. Full story here.


SINGAPORE

AMENDMENTS TO THE GOVERNMENT PROCUREMENT ACT

The Minister of Finance has announced the amendments to the Government Procurement Act effective July 2014. Full story here.

 

LAWYER ERRED, CAUSED WILL'S INVALIDITY

A lawyer that has failed to ensure that a will was signed in the presence of two witnesses was ordered, together with his firm, to pay more than AUD 719,000 (SGD 841,000) to 18 children and grandchildren of an Indonesian businessman. Full story here.

 

GOVERNMENT MUST IMPROVE HOW IT DISSEMINATES POLICIES

Education Minister Heng Swee Keat has announced on July 6, 2014 that the Government must do its best to make policies easy to understand and provide help lines for the community. Full story here.


TAIWAN

Rotary International President Gary Huang pride of Taiwan: premier

Premier Jiang Yi-huah has praised Rotary International President Gary C.K. Huang as the "pride of Taiwan" when receiving him and his delegation at the Executive Yuan on July 3, 2014. Huang will serve as Rotary International president from July 1, 2014 to June 30, 2015. Full story here.


THAILAND

NCPO CONTINUES TO CLARIFY ITS STANCE WITH THE INTERNATIONAL COMMUNITY

The National Council for Peace and Order (NCPO) is sending a delegation, which also comprises members of the business, private, and civic sectors, to visit foreign countries in order to create better understanding with the international community, starting from the Asian region. Full story here.

 

ONE-MONTH PROGRESS REPORT OF NCPO

Head of the National Council for Peace and Order (NCPO) General Prayut Chan-o-cha has issued a statement on the operations of NCPO during the month of May-June on June 25, 2014. Full story here.

 

ECONOMIC REFORM SET OUT BY TCC

The Thai Chamber of Commerce (TCC) is set to present action plans that focus on foreign workers, special economic zones and facilitating border trade. Full story here.

 

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