AEC Feed

Moody’s Investors Service has affirmed Vietnam’s sovereign rating, citing the country’s strong inflows of foreign direct investment (FDI), macroeconomic and external stability, and modest external debt burden.
Moody’s affirmed the government’s “B1” issuer and senior unsecured debt ratings, while it raised the outlook to “positive” from “stable”.
Moody’s “B1” rating, four steps below investment grade, is considered relatively stable, with a moderate chance of default.
The company also raised its assessment of Vietnam’s local-currency bonds to “Baa3” from “Ba1”, while the foreign currency bonds remained at “Ba2”.
The “positive” outlook for Vietnam is based on three key drivers: strong |FDI inflows, boosted by ongoing economic reform and liberalisation; |macroeconomic and external stability; and the stabilisation of prospective debt and an improved funding profile. – Viet Nam News

Asean urged to press on with economic integration
Asean must not succumb to the wave of anti-globalisation and protectionism sweeping the world, and instead press on with economic integration, said Singaporean Prime Minister Lee Hsien Loong.
Lee delivered that message to the leaders of all 10 Asean member nations on Saturday, the final day of the summit that began on Wednesday. 
Speaking at the 30th Asean Summit in Manila, he also stressed the need for the regional grouping to safeguard its unity and speak with one voice on key issues.
It is this unity that has given the group a place on the international stage and is what will ensure its value to other countries, he said.
“Individually, our influence is |limited, but together, Asean has amplified our collective voice in the world,” he said.
The summit, chaired by Philippine President Rodrigo Duterte, involved a series of meetings to discuss issues such as the South China Sea maritime dispute and ties with China and the United States. – The Straits Times

Brunei company achieves marine salvage milestone
A Bruneian firm achieved a milestone when it successfully conducted marine salvage operations recently, making it the first company to offer professional marine-salvage services in the sultanate.
Dara Shipping and Trading, a 100 per cent locally run firm based in Belait district, retrieved its fourth vessel in its latest underwater operations.
 Its locally qualified staff have CSWIP 3.4U (Subsea Underwater Inspection Controller) certification, according to a press statement from the company.
Formed in 2014, the company |specialises in marine engineering services, construction planning, waste management, commercial diving and remotely-operated-vehicle (ROV) services for the Bruneian government, services to the oil and gas industry, civil engineering and other related industries.
The company says it is also capable of providing a range of underwater services, including diving inspections, construction, cutting and welding, and marine salvage, from cleaning to retrieving lost items.
Dara says the company, which employs more than 100 locals, welcomes more local involvement. It reiterated its commitment in recruiting more Bruneians to join its team, in line with local business development requirements set out by the Energy and Industry Department at the Prime Minister’s Office.
With quality and safety aspects |in mind at all times, the company |said it looked forward to realising its vision of getting certifications from Bureau Veritas and the International Marine Contractors Association. – Borneo Bulletin