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On April 2, the US imposed tariffs of 10% to 49% on several Southeast Asian nations, with Vietnam, Cambodia, and Laos facing the highest rates at 46%, 49%, and 48%, respectively. This move, justified by the White House as a response to unfair trade practices, could severely impact export-driven economies, particularly Vietnam, where US trade constitutes a significant portion of exports and GDP. Critics argue the tariffs are based on trade surplus data rather than actual rates, potentially undermining trust in US partnerships in the region amid growing Chinese influence.
Zuger Kantonalbank has appointed Marcus Slöör as the new Head of Asset Management, effective June 1. With extensive international experience, including managing wealthy clients in Asia, Slöör will oversee support for private clients, special asset services, and the investment team. A Finnish citizen with a Master's degree in law, he returns to his roots in the canton of Zug after working in Zurich.
UBS analyst John Te has downgraded Robinsons Retail Holdings from Neutral to Sell, lowering the price target to PHP35 from PHP39.50 due to rising competition from hard discounters DALI and O!Save, expected to increase their market share from 2% to 7% by 2028.Te anticipates a 4% revenue growth for Robinsons Retail but predicts a 120 basis point compression in operating profit margin, contrasting with the consensus expectation of a 90 basis point expansion. The company's focus on profitability over aggressive market share growth reflects a cautious strategy in a competitive retail environment.
AC Ventures has sold a 6.5% stake in GCash to Mitsubishi for $321.5 million. This significant transaction highlights the growing interest in digital financial services in the region. The deal underscores the strategic partnerships forming in the fintech landscape.
Ayala Corp. has sold 6.5% of GCash to Mitsubishi Corp. for approximately $321.5 million, equating to 18.4 billion pesos. Following this transaction, both Ayala and Mitsubishi will hold equal stakes of 50% in AC Ventures, which manages GCash through Mynt. Mitsubishi will also acquire 18 million shares of AC Ventures.
Barclays has lowered its price target for Dow Inc. to $38 from $44 while maintaining an equal-weight rating. Dow specializes in manufacturing and marketing a range of products, with net sales primarily from basic plastics (50.7%), elaborate plastics (27.6%), and performance chemicals (20%). Geographically, sales are distributed across the U.S. and Canada (38.2%), Europe/Middle East/Africa/India (32.5%), Asia/Pacific (17.9%), and Latin America (11.4%).
Globe is deploying Huawei's RuralLink technology to enhance mobile coverage in at least 20 underserved areas in the Philippines, aiming to bridge the digital divide. This compact solution reduces installation costs and power consumption by 65%, while also minimizing greenhouse gas emissions. Globe plans to extend its services to 100 geographically isolated areas this year, contributing to its goal of reaching 700 such locations.
Taobao is launching an English app in several Asian markets, aiming to enhance its appeal to non-Chinese customers and address past shopping challenges. While it leverages its connection to Lazada, it faces competition from established players like Shopee, known for better returns and after-sales support. The platform's clothing quality has reportedly improved significantly, prompting a potential resurgence in interest among shoppers.
Southeast Asia's tech scene faces challenges as startup funding declines for the third consecutive year, with only a few deals reported this week. Notable funding includes India's Apna Mart raising $25 million, while M&As feature Dubdub.ai's acquisition by Observe AI. Despite setbacks, there is optimism for continued innovation and problem-solving in the region.
HKT has improved operational efficiency through AI scheduling, promoting green services and accelerating the ICT sector's green transformation. At MWC 2025, Huawei and GSMA Intelligence introduced the Green Network Index, emphasizing the need for sustainable practices and collaboration among global operators to achieve carbon neutrality and enhance energy efficiency. Key players like Globe and Turkcell shared their strategies for integrating renewable energy and reducing carbon emissions, aiming for significant sustainability milestones by 2050.
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05:20 03.04.2025
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