AEC Feed

The first MSME Innovation Expo and Conference and the Brunei CAEXPO Exhibition 2017 will take place at the BRIDEX International Conference Centre from tomorrow to Monday.
It will feature three main events: the Made in Brunei Market Fair MSME expo at BRIDEX Halls 1 and 2; the Brunei CAEXPO Exhibition 2017; and the MSME Innovation Conference.
The co-organisers are the Energy and Industry Department at the Prime Minister’s Office; the Ministry of Foreign Affairs and Trade; the Brunei Economic Development Board; Darussalam Enterprise; and the People’s Government of Guangxi Zhuang Autonomous Region. The Made in Brunei Market Fair MSME Expo is a platform for Bruneian companies from all sectors to showcase their products and services, and will see about 200 micro, small and medium-sized enterprises participate. – Borneo Bulletin

Bandar Malaysia deal ends after payment wait
The sale of 60 per cent equity in Bandar Malaysia to China Railway Engineering Corp (CREC) and Iskandar Waterfront Holdings (IWH) has been called off after the buyers failed to pay on time.
The Malaysian Finance Ministry now holds 100 per cent of the Bandar Malaysia equity.
In a statement by TRX City, it said the share sale agreement with IWH and CREC was inked on December 31, 2015. These two companies later assigned its benefits and responsibilities to IWH CREC (ICSB). 
The statement said that after several extensions, ICSB failed to meet the payment obligations stated in the share sale agreement. As a result, the agreement between the parties has ended immediate effect.
“As the value of Bandar Malaysia land has appreciated significantly, TRX City’s sole shareholder, the Finance Ministry will now retain 100 per cent ownership of the land to ensure that Malaysians benefit from the development.” – Sin Chew Daily

ADB: Duterte no match for able RP economy

The Asian Development Bank still sees sustained economic growth in the Philippines despite the political pronouncements of President Rodrigo Duterte. Despite a firebrand President Duterte setting off political explosives here and abroad, Manila-based Asian Development Bank (ADB) sees the Philippine economy sustaining its growth on strong consumer spending and vigorous contributions from both public and private sectors.
“Some political turbulence were a little bit worrisome but despite this situation, our growth rate forecast for the Philippines will continue,” Yasuyuki Sawada, ADB chief economist,said ahead of the multilateral lender’s |50th annual meeting yesterday. |– Philippine Daily Inquirer