Regional trends in global sourcing
As businesses assess their operational capacity needs for a predicted bumpy recovery, to recalibrate during and post-pandemic, it is crucial to understand what brought us to this point and where it is likely leading us.
The Pacific Basin Economic Council (PBEC), Monash University Malaysia and KPMG, together with contributions from PBEC members, are pleased to publish this report on global sourcing, reviewing the most recently announced supply chain and sourcing movements in the region, charting a new course in Asia Pacific.
China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local authorities have been racing to find new revenue sources, with foreign investment particularly coveted. Premier Li Qiang in March declared China open for business again, and since then provinces and cities…
The city-state offers a good case example for other Southeast Asian countries vying to become tech and innovation hubs By Nitin Pangarkar Academic Director and Associate Professor at National University of Singapore Paul Vandenberg Senior Economist at the Asian Development Bank Singapore has a vibrant ecosystem that nurtures and develops technology-based startups. Its ecosystem was ranked 18th in the world in 2022 and fifth in Asia, behind Beijing, Shanghai, Seoul, and Tokyo, by Startup Genome and Global Entrepreneurship Network. According to…
Facing global supply chain challenges, the Indo-Pacific Economic Framework promotes economic cooperation among 14 economies, strengthening supply chain resilience, fostering innovation, and driving growth By: Cyn-Young Park- Director for Regional Cooperation and Integration, Economic Research and Regional Cooperation Department at the Asian Development Bank Supply chains – the vital global connections between the making of products and their delivery to customers worldwide – have been tested in recent years. They are increasingly vulnerable due to a lack of coordinated oversight…
Now in its 12th year, the APEC Photo Contest showcases inspirational photos from around the region with a creative take on APEC host priorities. The annual photo contest celebrates the resilience and adaptability of the 21 APEC member economies. Share with us images that will make us think, reflect and admire how people are interconnected, innovative, and inclusive in their daily lives, what sights they see and the sounds they hear in the APEC region. How do you picture a…
Yes you heard that right. My hope is that artificial intelligence (AI) and robotics will be used primarily to eliminate the tedious, bullshit work in which most of humanity currently toils, so that more and more people can pursue their passions in a similar fashion. Ideally, this will lead to our next great renaissance of art and culture, as millions (or even billions) of humans are suddenly free to do what they love and create happiness through art. Before such…
Since RCEP came into effect in China and Japan in January and South Korea in February of 2022, it became the first free trade agreement that fully includes all three economies of China, Japan and South Korea. The trade deal helps reduce the tariff costs of cross-border trade among its members and promotes such measures as self-declaration of origin by approved exporters. China has now become Japan’s and South Korea’s largest trading partner. Meanwhile, South Korea and Japan have become…
APEC released a set of guidelines to further the forum’s work on environmental services and marine debris management. The guidelines encourage member economies to facilitate services that support the clean-up of marine debris from beaches, rivers, coastal areas, and the open ocean. Marine debris refers to plastic and other litter, discarded and lost fishing equipment, industrial rubbish, and other human-created waste that enters the seas and oceans. A 2020 report by APEC Ocean and Fisheries Working Group estimated that marine…
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ADI is building a SME lending platform that it hopes will attract external players and compete abroad Aboitiz Data Innovation (ADI), a unit of Filipino conglomerate Aboitiz Group, has developed a fintech lending platform that enables its in-house banks to serve SMEs. It plans to invite third-party banks to use the platform in a bid to create an independent business able to serve the entire region. Guy Sheppard, chief operating officer for financial services at ADI in Singapore, says a…
PBEC BoD Thomas Wong Co-Founder CW CPA shared their most recent news and we got to speak to Thomas about this exciting news, “My football story began almost 50 years ago in high school. I was in a football team called Gazelle (attached pic, I’m in the back row on the far right). In those days, I was fond of the Brazil football team and their left wing called Rivalino …today my football story continues again with Brazil … I…
Powerwell International Sdn Bhd is a wholly owned subsidiary of Powerwell Holdings Bhd KLSE: PWRWELL Datuk Adam Yee is currently their Managing Director & CEO of Powerwell International Sdn Bhd. Adam is also a member of the Board for the Malaysian German Chamber of Commerce (MGCC) and a subcommittee member for Construction and Development for Malaysia China Business Councils (MCBC). With Adam leading the helm, his appointment in Powerwell in 2022 has accelerated the company’s successes even further. After his…
As the CEO for North Asia and Regional Head of Distribution at QBE Asia, Lei Yu has implemented well-defined strategies for the business and its distribution and partnership areas. These strategies have been instrumental in driving the company’s Asia growth ambition. Lei brings a wealth of knowledge and experience in driving profitable growth, having served in executive leadership positions in various global insurance hubs over her career. “I strongly believe in the power of teamwork,” she says. “I actively…
PBEC’s Powerwell International Sdn Bhd, a wholly owned subsidiary of Powerwell Holdings Bhd, has successfully obtained a purchase order (PO) worth RM40 million from a solar supplier company in Bangladesh, Dynamic Sun Energy Private Ltd which is also a unit of Paramount Group Bangladesh. In a statement today, the manufacturer of low voltage (LV) and medium voltage (MV) electrical power supply equipment said the new PO is expected to contribute positively to consolidated income and net assets for the financial…
The Big Picture Boosting growth while eyeing the long term. What are the policy options for China? By Li Cui The latest Chinese data indicates a modest recovery post pandemic, with diverging sectoral trends. After the strong rebound in 1Q, the Chinese economy grew at a more modest pace of 0.8% in 2Q. The latest data paints a mixed picture: while industrial growth and investment outperformed market expectations in Jun, the incipient consumption recovery disappointed. To view the latest report…
KPMG will invest at least $2 billion over the next five years with Microsoft to co-develop cloud and generative AI tools, the companies announced Tuesday. Why it matters: Rival consulting giants like PwC and Accenture also have made large-scale commitments toward AI-powered changes. Details: All of KPMG’s businesses — audit, tax and advisory — will be impacted by the products that will be developed through this expanded partnership, KPMG U.S. chair and CEO Paul Knopp tells Axios. KPMG and Microsoft…
Far East Consortium International Limited (“FEC” or the “Group”) is delighted to announce that the Group has won three honours at the HKIRA 9th Investor Relations Awards 2023 (“Awards”) hosted by the Hong Kong Investor Relations Association (“HKIRA”), including “Best IR Company”, “Best Investor Meeting” and “Best Annual Report”. The results were announced at the Awards Presentation Ceremony held in Hong Kong on 28 June 2023. FEC has won the “Best IR Company” award for the eighth consecutive year. Furthermore,…
We are delighted to be joined by Andrew Weir our Chairman and Senior Partner and Vice Chairman of KPMG China on our latest episode of the Value Prop. Andrew provides us with some excellent commentary on the big topics concerning his clients and sharing some of his insights on the current status of APAC’s economy and where its heading into the latter part of 2023.
Dear PBEC members, The ESBN Secretariat is pleased to inform you that the Asia-Pacific Business Forum (APBF) 2023 will be held on 22 and 23 November 2023 in Hong Kong, China, under the theme “An Asia Pacific Green Deal for Business: Driving the Green transformation”, with the 11th Meeting of the ESCAP Sustainable Business Network taking place on 21 November prior to the APBF. We would therefore like to ask PBEC Members to please pencil in your calendar for the…
Event Details: Date : 14 Nov 2023 Time : 9:00 am to 5:00 pm (HK Local time) Venue : S200 Series, Level 2, Hong Kong Convention and Exhibition Centre (Harbour Road entrance) Format : Physical Participation Language : English Simultaneous Translation : Putonghua Audience: Perfect to network with 600+ C-suite executives, entrepreneurs, SME owners, policymakers and others, across retail, finance, foodservice, logistics, tech and many other sectors Insights for the 22nd edition of GS1 HK Summit : Themed around “digital…
PBEC – Pacific Basin Economic Council is by invitation ONLY a members based institution, that supports connectivity and cross-border regulatory standardisation efforts within APAC for all technological advancements, through dialogue, engagement and collaborative efforts.
PBEC’s focus is to continual attain recognition as the most comprehensive multilateral platform for APAC business leaders to engage with, advocating key trade issues of importance under a fair rules based system, thus promoting cooperation amongst member States to achieve inclusive, sustainable economic and social development in Asia and the Pacific.
