Synopsis: The Kingdom’s energy sector has been on an expansion path with many global giants showing active interest in exploring investment opportunities.

Citicore Renewable Energy Corporation (CREC), a major player in the energy scene of the Philippines, is all set to explore market opportunities in the Kingdom.

This was revealed by Oliver Tan, President and CEO of CREC, during an interview with Singapore-based business daily The Business Times.

“Cambodia is really exciting because of its strategic geographical location, especially in terms of the Asean power grid, and its land mass,” Tan said.

He said Cambodia offers many advantages compared to other Asean countries such as Thailand. “Comparatively, property in Thailand is expensive because of how the country markets itself as a tourist destination, and hence, building solar facilities there could be relatively difficult.”

Tan added that energy transition ambition across the Asean region offers great opportunities for the company in the days to come.

The visit by Prime Minister Hun Manet to the Philippines in February provided a perfect platform for many leading companies there to explore investment opportunities in the Kingdom.

CREC is a leading pure renewable energy developer and operator of solar, run-of-river hydro, and offshore wind energy platforms in the Philippines and is now focusing on a major expansion plan across Southeast Asia and beyond.

Indonesian energy giant PT Pertamina last year acquired a 20 percent stake in the Philippine company, with its public float accounting for another 20 per cent and the remainder owned by parent company Citicore Power.

The Kingdom’s energy sector has been on an expansion path with many global giants showing active interest in exploring investment opportunities.

French behemoth TotalEnergies said last month that the company is seriously exploring investment opportunities in the Kingdom.

Mehmet Celepoglu, TotalEnergies Deputy Director for Oceania and Southeast Asia region, also held a meeting with Keo Rottanak, Minister of Mines and Energy, at the ministry headquarters in Phnom Penh, and discussed investment opportunities.

Many Chinese and Korean companies have also expressed interest in the Kingdom’s energy sector.

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Source: Khmer Times

The Johor-Singapore Special Economic Zone (JS-SEZ) will not benefit only Johor Bahru but also other districts like Kluang, said the state’s Menteri Besar Onn Hafiz Ghazi.

He stated that the rapid and ongoing developments indicate that the zone will boost all 10 districts of the state.

“Do not think that the benefits of the JS-SEZ will only be concentrated in the Johor Bahru area. All 10 districts in Johor stand to benefit... because of all the ongoing developments taking place throughout the state, such as transportation infrastructure, housing projects and tourism,” he noted at a community event in Renggam on July 6.

He said a double-track rail system, expected to be fully operational by end 2025, and Johor Bahru-Singapore Rapid Transit System Link, projected to begin running on Jan 1, 2027, would shorten travel time.

He pointed out that the completion of the projects could help elevate places like Layang-Layang, Renggam and Kluang into satellite towns of Johor Bahru.

Source: The Straits Times (Johor-Singapore Special Economic Zone set to transform all 10 Johor districts, says Menteri Besar | The Straits Times)

6 Jul 2025

The Agency for Science, Technology and Research (A*Star) and German industrial manufacturer Siemens signed a memorandum of understanding (MOU) on Friday (Jul 4) to jointly develop smart and sustainable manufacturing solutions for companies in Singapore and the broader Asean region.

The collaboration seeks to address key industrial challenges by enabling faster access to advanced artificial intelligence (AI) and automation expertise, while promoting manufacturing processes that align with international sustainability standards.

A key component of the partnership is the Smart and Sustainable Advanced Manufacturing (SSAM) Catalyst, an innovation sandbox hosted at A*Star’s Advanced Remanufacturing and Technology Centre (ARTC).

Siemens is the first technology partner to join the SSAM Catalyst, contributing a portfolio of automation, electrification, industrial software and AI solutions.

These capabilities span the entire product lifecycle – from design and engineering to manufacturing and operations – offering manufacturers a platform to test and refine technologies in sectors such as aerospace, fast-moving consumer goods, biomedical and semiconductor equipment manufacturing.

The ARTC seeks to establish an innovation ecosystem involving technology providers, solution integrators, and end-users to jointly develop solutions for practical application. Leveraging its capabilities in manufacturing processes, smart manufacturing, sustainability analytics, precision imaging and autonomous systems, it provides support to companies looking to adapt their operations amid changing industry conditions.

Paving the way for more sustainable manufacturing

Beyond the SSAM Catalyst, A*Star’s Institute of Sustainability for Chemicals, Energy and Environment and Siemens are collaborating on research projects targeting decarbonisation in the chemicals and energy sectors.

The collaboration also involves exploring the use of Siemens’ Digital Twin technology, which allows chemical engineers to simulate and optimise chemical processes and design production facilities.

This technology aims to support better integration of engineering and operations in manufacturing plants, potentially helping companies manage plant design complexity and shorten construction schedules.

“Together with Siemens, we are developing solutions that will accelerate digital transformation and support decarbonisation efforts across the region. This multi-faceted collaboration looks to strengthen Singapore’s position as a regional hub for smart and sustainable manufacturing in Asean,” said Professor Lim Keng Hui, assistant chief executive of A*Star’s science and engineering research council.

Source: The Business Times (A*Star, Siemens launch manufacturing R&D collaboration in Asean - The Business Times)

In an era marked by multipolarity, supply chain disruptions, geopolitical conflicts and growing protectionism, it is a pivotal time to strive towards creating regional industrial champions and advancing Asean-led development to deepen intra-bloc integration.

Such sentiments were shared by panellists on Thursday (Jul 3) at the Asean Conference, during a ministerial dialogue titled “Asean integration in the multipolar world” with Singapore Deputy Prime Minister Gan Kim Yong.

The day-long event at the Resorts World Convention Centre was organised by the Singapore Business Federation (SBF), alongside founding partners UOB, RSM Singapore and Rajah & Tann.

The panel featured Malaysian Deputy Minister of Investment, Trade and Industry Liew Chin Tong, and Indonesian Deputy Minister for Investment Cooperation at the Ministry of Investment and Downstream Industry Tirta Nugraha Mursitama.

The hour-long session was moderated by SBF chief executive officer Kok Ping Soon, and explored how each country interprets the mandate of an integrated Asean and their plans to deliver on this.

Noting that now is a difficult but interesting time for Asean, Liew posed the question: “Do we still rely on a foreign direct investment-driven economic growth model or an export-led industrialisation model where we export to the US – or do we start thinking about growing Asean companies?”

The bloc has to start thinking about growing regional giants and creating its own technologies – with that, he said, intra-Asean cooperation, integration and trade will not be too difficult because member states will have to work with one another.

On the way forward, Prof Tirta said: “My optimistic way of thinking is that if we are internally strong as Asean... we can create the idea of not state-led development but Asean-led development.”

The Indonesian minister called for stronger cooperation and communication between business and government leaders.

Bilateral and regional complementarity

On recent news of Vietnam’s trade agreement with the US that supposedly culminated in a lower-than-promised 20 per cent levy, SBF’s Kok noted that the world’s largest economy is “obviously pursuing a divide-and-conquer strategy”.

On whether that weakens Asean centrality, DPM Gan, who is also minister for trade and industry, contended that, at the end of the day, tariffs have to be negotiated bilaterally.

Nonetheless, Asean member states have made a commitment to honour agreements signed with one another, so as to ensure intra-bloc trade remains rules-based, he continued.

“Even while we negotiate with the US separately and bilaterally, at the same time, at the back of our minds, we remain committed to Asean cooperation and integration,” he said.

His sentiments were echoed by SBF chairman Teo Siong Seng, who highlighted the importance of Asean’s collective response in his welcome remarks.

Known in the shipping circles as SS Teo, the executive chairman of home-grown carrier Pacific International Lines said: “At the enterprise level, many companies initially adopted a wait-and-see stance, viewing themselves as price takers or downstream in the supply chain, or assuming the tariffs were just a scare tactic.”

But it has become clear that action must be taken, he continued.

In an environment characterised by trade realignment and uncertainty around capital flows brought about by a shift in US trade policy, Teo noted: “Asean’s collective response will be crucial (and) we are already seeing our community step up.”

UOB deputy chairman and CEO Wee Ee Cheong highlighted in his opening address the opportunities from the rapidly expanding digital economy, and new investments in climate and sustainability.

Artificial intelligence and environmental, social and governance factors are now central to government and business trends, added Wee, who urged small and medium-sized enterprises to adapt their business models to compete and thrive.

“Let us all work together to build (an) inclusive Asean, where every business – big or small – has a stake in our shared success,” he said.

Deepening cooperation

The conference also saw UOB ink five memorandums of understanding with government agencies and leading industry players across Asean and China.

The agreement between the lender and Enterprise Singapore saw both parties pledging to encourage partnerships between local enterprises and foreign companies seeking to expand in the region.

A second deal, with the Federation of Malaysian Manufacturing and Singapore Manufacturing Federation, is aimed at facilitating business opportunities in the region.

The third pact was between UOB Hong Kong and the Hong Kong Trade Development Council, and is aimed at establishing a framework of cooperation to strengthen regional ties and promote sustainable growth.

The fourth agreement was signed by UOB China and ZGC International. It will see UOB China providing complementary financial services and empowering the cross-border development of companies in ZGC industrial parks.

The final memorandum, which was between UOB, J-Will Corporation and Hildrics Capital, is aimed at the joint development of business opportunities and supporting Japanese companies entering the Asean market.

Noting that the region remains an attractive destination for businesses despite global tensions, Wee said: “As opportunities arise from the rewiring of global supply chains, trade flows within Asean and between China and Asean are expected to increase.”

Source: The Business Times (Ripe time to grow regional industrial giants, work towards Asean-led development: panellists - The Business Times)

South-east Asian neighbours Singapore and Cambodia intend to continue advancing shared interests in renewable energy trade, high-quality carbon markets, agri-trade and bolstering Asean centrality.

Singapore Prime Minister Lawrence Wong made this point on Wednesday (Jul 2), in a toast at the Peace Palace in Phnom Penh, at an official lunch hosted by his Cambodian counterpart, Hun Manet.

The Singapore leader was on a one-day trip to the kingdom.

His visit came amid escalating tensions between neighbours Cambodia and Thailand, but was consistent with a customary series of introductory visits he has made across South-east Asian capitals – a tradition followed by previous prime ministers. 

Cambodia is his eighth stop.

The tour took him to Brunei and Malaysia in June 2024, Laos in October, Indonesia and Thailand the following month, Vietnam in March 2025, and the Philippines three months after that.

A statement by Singapore’s foreign ministry noted that PM Wong “expressed concern in relation to recent developments on the Cambodia-Thailand border” in his meetings with the kingdom’s leaders.

He “encouraged both sides to resolve the matter peacefully and amicably, in line with the spirit of Asean solidarity”.

The Singapore leader “expressed hope that both sides will de-escalate tensions, engage constructively and reach an amicable solution that upholds international law and the broader stability of the region”, said the post-visit statement.

He had made the same point in his toast at the lunch in the palace, where he said: “In this uncertain global environment, it is more important than ever for Asean to stay cohesive, uphold open channels of dialogue, and work together to resolve our differences peacefully.

“Only then can we preserve our relevance, and continue advancing the region’s collective interests.”

Both leaders discussed several priority areas of cooperation, including the import of low-carbon electricity from Cambodia to Singapore.

An implementation agreement on carbon credits is also in the works.

PM Wong said: “This will mobilise financing for clean-energy projects, uplift rural communities and improve livelihoods, while enabling both our countries to hit our net-zero goals.”

On agri-trade cooperation, he noted that Cambodia stands as a key agricultural exporter, while Singapore imports almost everything its people eat.

The Republic is also keen to diversify its sources of food imports, so closer collaboration will be “mutually beneficial”, he said.

Long friendship

Noting that both nations commemorate six decades of diplomatic ties this year, PM Wong pointed out that Cambodia was among the first countries to recognise Singapore’s sovereignty.

The kingdom was in turn one of five countries where the Republic first opened its overseas missions.

The Singapore leader said: “Our ties (were) built on the strong foundation laid by then prime minister Lee Kuan Yew and His Majesty, King-Father Norodom Sihanouk. It is a foundation of mutual respect, trust and friendship that continues to guide our relationship today.”

Presently, Singapore stands as one of Cambodia’s largest investors and trading partners, added PM Wong.

Latest figures put Singapore as Cambodia’s third-largest foreign investor last year, with bilateral trade growing 7.1 per cent year on year to S$4.83 billion.

These investments sweep across the real estate, energy, trading and distribution, agribusiness, food, consumer, education and finance sectors.

PM Wong described both countries as “steadfast partners” in human development.

Nearly 19,000 Cambodian officials have visited Singapore for training programmes in public health, digital governance and public administration.

Today, Cambodia has an “ambitious” strategy to achieve high-income status by 2050, having made “remarkable strides” in its transformation from a post-conflict society to a rapidly developing nation, said PM Wong.

“Singapore will continue to walk alongside Cambodia in this development journey.”

The day’s happenings

Following a ceremonial welcome on Wednesday, the countries’ premiers held a bilateral meeting at the Peace Palace in Phnom Penh.

Hun Manet, the eldest son of long-time ruler Hun Sen, made his first visit to Singapore as Cambodia’s prime minister in June 2024. He took office in August 2023.

PM Wong also called on Senate President Hun Sen at the Senate House.

Source: The Business Times (Singapore, Cambodia solidify joint efforts in energy, climate finance, agri-trade - The Business Times)

Bilateral relations between Singapore and Indonesia are in “excellent shape”, and both countries seek to “chart even stronger ties in this new era of cooperation”, said Prime Minister Lawrence Wong on Monday (Jun 16).

He was speaking at a joint press conference with Indonesia’s President Prabowo Subianto, who was in Singapore for his first state visit and to attend the eighth Singapore-Indonesia Leaders’ Retreat.

PM Wong noted ongoing collaborations in areas ranging from defence to trade and investment.

For instance, he highlighted the expanded framework agreements – on defence, airspace management, and law enforcement – which entered into force on Mar 21 last year.

Their successful implementation is “a testament to Singapore and Indonesia’s ability to work through complicated issues with respect and trust”, he said.

In a Facebook post, Singapore’s Ministry of Defence highlighted the Joint Update on Defence Cooperation (JUDC) signed during the retreat by Defence Minister Chan Chun Sing and his Indonesian counterpart, Sjafrie Sjamsoeddin, who is also a retired lieutenant-general. 

The JUDC reviews bilateral defence engagements and outlines new and enhanced areas of collaboration.

The two countries’ defence cooperation agreement has “unlocked new opportunities” for their armed forces to train and work together, the Ministry of Foreign Affairs (MFA) said in a statement.

It also noted that the first case under the Treaty for the Extradition of Fugitives is now before the Singapore courts, with both countries’ legal agencies working closely to ensure due process.

At the meeting, the leaders also discussed how to enhance bilateral cooperation in areas such as the green economy, which PM Wong described as a “promising new area”.

“We know that climate change will have an outsized impact on small island and archipelagic states like ours,” he said. “But we can turn our vulnerabilities into opportunities.”

On Friday, Singapore and Indonesia inked three memorandums of understanding on cross-border electricity trade, carbon capture and storage, and a sustainable industrial zone.

These were followed by a milestone ceremony on Monday to mark both countries’ shared commitment to implementing the projects, for sustainable economic development and decarbonisation.

The leaders of the two nations also expressed confidence in these agreements helping to unlock the region’s green potential and serving as a key building block for the Asean Energy Grid, MFA said.

Confidence and closer ties

Singapore has been Indonesia’s top source of foreign investment for more than a decade, accounting for over a third of all realised foreign investment into Indonesia last year, noted PM Wong. 

“This reflects the confidence we have in Indonesia’s economy and its potential and strength.”

On Sunday, the countries inked two commercial arrangements during the 15th Singapore-Indonesia Six Bilateral Economic Working Groups Ministerial Meeting. One was between Sembcorp Industries and Batamraya Sukses Perkasa, a subsidiary of property developer Panbil Group.

Late last year, the Monetary Authority of Singapore and Bank Indonesia renewed a bilateral financial arrangement to strengthen financial cooperation – for three years, rather than the usual annual renewal.

The longer renewal period, said PM Wong, reflects “our shared commitment to preserving monetary and financial stability amid global economic uncertainty”.

Food is another area of cooperation, with the two countries signing an MOU on Monday on food safety and agricultural technology. 

Food security is a key priority for Indonesia and Singapore, and their support in this area includes a Young Farmers Development Programme to exchange best practices on agritech solutions, said PM Wong. The initiative aims to boost productivity, nutrition and food resilience in both countries, according to MFA.

He also underscored the importance of people-to-people exchanges, including cross-border internship opportunities. MFA said the Youth Mobility Programme will facilitate internships for 300 tertiary students each year, and connectivity will be further boosted by new direct flights from Singapore to Padang and Kertajati in Indonesia.

“Copying with pride”

In his speech, President Prabowo said: “It is in Indonesia’s strategic political design to foster the best cooperation and collaboration with Singapore.”

He noted that Indonesia has been adopting some of Singapore’s best practices – a move he described as “copy with pride” – such as its public housing model and state investor Temasek, with the latter inspiring Indonesia’s new sovereign wealth fund Danantara.

Prabowo also expressed interest in deepening collaboration in healthcare and manpower, inviting Singapore to support Indonesia’s plans to expand its network of medical and nursing colleges. 

There can also be greater cooperation in the placement of skilled Indonesian caregivers in Singapore, he added. 

On connectivity, Indonesia is committed to restoring or even surpassing pre-pandemic traffic levels, with Prabowo having instructed ministries to enhance direct foreign airline access to more Indonesian airports.

On Asean and the world

Both leaders also touched on regional and global developments.

PM Wong said that as founding members of Asean, Singapore and Indonesia will continue working closely with fellow member states to strengthen the region and uphold a rules-based multilateral system. 

He also affirmed Singapore’s support for Indonesia’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Prabowo expressed concern over the situations in Gaza and the Israel–Iran conflict, stressing the need for peaceful solutions, negotiations, and an immediate ceasefire.

On Myanmar, both leaders agreed on the importance of engagement and pursuing a peaceful resolution.

“Both (Singapore and Indonesia) have succeeded in maintaining a zone of regional peace, prosperity, and mutual support,” said Prabowo. 

“I am very confident that our bilateral relationship will continue to grow from strength to strength, with more trust and confidence in each other, as the years will prove.”

Source: The Business Times (Bilateral ties in ‘excellent shape’ as Singapore, Indonesia expand cooperation - The Business Times)

Local businesses looking to tap opportunities in the Johor-Singapore Special Economic Zone (JS-SEZ) can look forward to quicker bank account openings, green-lane financing, halal advisory services, and more.

The Singapore Chinese Chamber of Commerce & Industry (SCCCI) and Maybank Singapore on Thursday (Jul 17) inked a pact to promote economic development, investment and trade – with the massive 3,571-square-kilometre zone as a strategic focal point.

Some 5,000 SCCCI corporate members can benefit from capacity-building programmes in the areas of sustainability, halal advisory and financial services, aided by Maybank’s dedicated JS-SEZ desk, a joint media release indicated.

Additionally, the bank will offer tailored solutions such as green-lane financing, trade finance, cash management as well as environmental, social and governance-linked products.

The two parties will also collaborate on initiatives such as meetings, visits, conferences, workshops and networking events.

The memorandum of understanding was signed at the SCCCI-Maybank Mid-Year Business Forum: Outlook 2025, held at the business chamber’s auditorium.

Speaking in Mandarin at the event, Minister of State for Trade and Industry Gan Siow Huang urged businesses to explore beyond traditional markets and better understand emerging ones – across regions such as South-east Asia and Africa – to find new growth areas.

SCCCI president Kho Choon Keng said: “In the face of an increasingly complex and rapidly changing business landscape, strong financial capabilities and deep regional insight are critical.”

Noting the bank’s dual-market advantage in Singapore and Malaysia, Maybank Singapore chief executive Alvin Lee reaffirmed the group’s commitment to supporting businesses with banking solutions while identifying “twinning opportunities for expansion” into the JS-SEZ.

With South-east Asia poised to become the world’s fourth-largest economy by 2030, the region offers significant growth opportunities, with Malaysia positioning itself as a key investment hub for Singaporean businesses due to its diversified economy, SCCCI and Maybank said in the joint statement.

Source: The Business Times (Maybank, SCCCI join forces to power up Johor-Singapore SEZ  - The Business Times)