Malaysia freezes almost 100 bank accounts in child abuse case
Malaysian authorities have frozen close to 100 bank accounts belonging to a charity group accused of running care homes where hundreds of children were allegedly abused.
In what is believed to be the worst such case to hit Malaysia in decades, police arrested 171 suspects including religious studies teachers and carers and brought to safety over 400 children after storming 20 charity shelters.
At the heart of the investigation is the Global Ikhwan Service and Business (GISB) group.
On September 17, Malaysia’s police chief Razarudin Husain said authorities have frozen 96 accounts containing around $124,000 and seized eight vehicles linked to the group.
Medical screenings showed that at least 13 children suffered sexual abuse, Razarudin said last week.
- Read More
Northern Vietnam industrial province licenses 5 FDI projects worth $140 mln
Vietnam’s northern industrial province of Vinh Phuc has granted investment certificates to five foreign-invested projects totaling nearly $140 million.
Investing - Tue, December 10, 2024 | 2:44 pm GMT+7
Ground broken for military-civil airport project in northern Vietnam
The Ministry of Public Security on Tuesday broke ground for a military-civil airport project in Bac Ninh province, a neighbor of Hanoi and an emerging industrial hub in northern Vietnam.
Infrastructure - Tue, December 10, 2024 | 2:18 pm GMT+7
Vietnam urges China's construction giants to join infrastructure projects in Hanoi, HCMC
Vietnamese Prime Minister Pham Minh Chinh on Monday urged China Pacific Construction Group (CPCG) and other Chinese construction giants to study and join major infrastructure projects in Hanoi and Ho Chi Minh City.
Infrastructure - Tue, December 10, 2024 | 1:04 pm GMT+7
Japan retailer Aeon begins building $164 mln mall in central Vietnam
Aeon Mall Vietnam, under Japanese retail giant Aeon Mall, kicked off the construction of its VND4,157 ($163.8 million) Aeon Mall Thanh Hoa in the central province of Thanh Hoa on Monday.
Industries - Tue, December 10, 2024 | 10:25 am GMT+7
Japanese firms ask for immigration procedures to be eased, VAT invoice issuance quickened
Japanese companies urged for immigration procedures to be eased, issuance of VAT invoices expedited, and traffic congestions addressed in a dialogue with Ho Chi MInh City leaders on Monday.
Economy - Tue, December 10, 2024 | 9:45 am GMT+7
New legislative changes to foster growth across various sectors: lawyer
The National Assembly, Vietnam's legislature, in late November 2024 passed 18 new and amendment laws, along with 21 resolutions. Anh Dang, a senior partner at Vilaf law firm, offers an insight into key aspects of several new laws that will come into force in 2025 and their potential impact on business activities.
Consulting - Tue, December 10, 2024 | 8:15 am GMT+7
Indonesia’s GDP to reduce by $1.3 bln due to VAT hike
The planned increase in Indonesia’s value-added tax (VAT) rate from 11% to 12% could reduce the country's GDP by IDR 21 trillion ($1.3 billion), economists warned.
Southeast Asia - Mon, December 9, 2024 | 11:12 pm GMT+7
Southeast Asia poised to become global AI hub
In the first half of 2024, Southeast Asia attracted over $30 billion in artificial intelligence (AI) infrastructure investments, according to the 2024 e-Conomy SEA Report from Google, Temasek, and Bain & Company.
Southeast Asia - Mon, December 9, 2024 | 11:00 pm GMT+7
Vietnam deposit interest rates remain low, only 1 ppt higher than inflation: expert
Current deposit rates offered by Vietnamese banks, despite several hikes, are still low, just 1 percentage point higher than inflation - a gap similar to that in developed countries.
Banking - Mon, December 9, 2024 | 10:30 pm GMT+7
Role of sustainable supply chains – building a resilient future
Sustainability is a rapidly growing priority that has become central to how corporates in Asia are planning to govern their supply chains and respond to customer expectations, writes Surajit Rakshit, country head of global trade solutions at HSBC Vietnam.
Consulting - Mon, December 9, 2024 | 9:28 pm GMT+7
Minh Ngoc Steel: A 'quiet' major player in hydroelectric sector
Minh Ngoc Producing and Trading Co., Ltd. (Minh Ngoc Steel), founded by entrepreneur Dong Tuan Vu, has quietly made its mark on the hydroelectric sector, in addition to establishing itself as a key player in the steel industry.
Companies - Mon, December 9, 2024 | 5:14 pm GMT+7
Greenwell Energy Canada seeks to supply LNG for Vietnam
Greenwell Energy (Canada), under the United States-based Greenwell Energy, plans to build an LNG terminal in Vietnam’s central province of Thanh Hoa to supply LNG in the country.
Energy - Mon, December 9, 2024 | 4:21 pm GMT+7
Amkor Technology’s $1.6 bln project in Vietnam needs 2,800 workers
The $1.6 billion project of U.S.-headquartered semiconductor giant Amkor Technology in Vietnam is set to have a labor demand of 2,800 during stable operations, according to a recent project report.
Companies - Mon, December 9, 2024 | 3:30 pm GMT+7
Revenues of LG Electronics’ Vietnam factories up 24% to $6 bln in Jan-Sept
LG Electronics’ factories in Vietnam, LG Innotek Vietnam Hai Phong and LG Electronics Vietnam Hai Phong, recorded a total revenue of KRW8,532 billion ($6.02 billion) in the first nine months of 2024, up 24% year-on-year.
Companies - Mon, December 9, 2024 | 10:55 am GMT+7
Leading Vietnamese insurer Bao Minh lowers profit, dividend targets due to typhoon
Vietnam’s Bao Minh Insurance Corporation has revised its profit and dividend targets for 2024 following the increased compensation costs stemming from super typhoon Yagi, which severely impacted the northern region.
Finance - Mon, December 9, 2024 | 10:29 am GMT+7
Foreign capital flow key indicator for Vietnam stock market: expert
Foreign net buying/selling in the coming period will be a crucial indicator for Vietnam’s benchmark VN-Index, as foreign investors play a significant role in shaping market sentiment, according to Yuanta Vietnam Securities JSC's chief analyst.
Finance - Mon, December 9, 2024 | 9:38 am GMT+7