Asia News Update
Indonesia
The Attorney General’s Office (AGO) is investigating the possible involvement of oil tycoon Riza Chalid in a graft scheme involving fuel imports at subsidiaries of state-owned oil and gas giant Pertamina that allegedly cost the country nearly US$12 billion.
President Prabowo Subianto on Wednesday pledged firm action against the alleged practice of mixing subsidised gasoline with a higher-priced fuel product at a subsidiary of state-owned oil company Pertamina.
Singapore
US President Donald Trump is this week reportedly considering tighter rules on advanced chips to China, which could further bifurcate semiconductor supply chains along geopolitical blocs, and choke off the tap to economies like Singapore that act as nodes in the long and complicated chips value chain.
City Developments Limited (CDL) executive chairman Kwek Leng Beng said his son Sherman and other directors acting with him have agreed not to take further action after a court hearing on Wednesday (Feb 26).
Thailand
The Bank of Thailand’s MPC cuts the key policy interest rate to 2% in response to slower-than-expected economic growth. The move aims to stimulate growth, manage inflation, and support financial stability amid global competition and domestic challenges.
A one-month deadline has been set for a crackdown on illegally imported and sold vapes, particularly in areas surrounding educational institutions, Prime Minister Paetongtarn Shinawatra said on Wednesday.
Conclusion
This article provides an overview of current news and updates from Indonesia, Singapore, and Thailand, covering topics such as corruption, politics, and economics. The investigations and actions taken by government officials and companies are notable, highlighting the importance of transparency and accountability in these countries.
Frequently Asked Questions
Q: What is the purpose of the Attorney General’s Office (AGO) investigation in Indonesia?
A: The AGO is investigating the possible involvement of oil tycoon Riza Chalid in a graft scheme involving fuel imports at subsidiaries of state-owned oil and gas giant Pertamina.
Q: What is the purpose of the Bank of Thailand’s MPC interest rate cut?
A: The Bank of Thailand’s MPC cuts the key policy interest rate to 2% in response to slower-than-expected economic growth, aiming to stimulate growth, manage inflation, and support financial stability.
Q: What is the objective of the Thai government’s crackdown on vapes?
A: The Thai government aims to crack down on illegally imported and sold vapes, particularly in areas surrounding educational institutions, with a one-month deadline set for the crackdown.