AEC Feed

business May 20, 2017 01:00

By Asia News Network

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Singapore Airlines to reintegrate cargo unit



Singapore Airlines (SIA) said yesterday it would reintegrate SIA Cargo, now a wholly owned subsidiary, as a division within the group to improve efficiency "through greater synergy with the wider SIA Group”.

The majority of its nearly 900 employees will be retained in the new cargo division, with some staff transferred to other SIA divisions.

“For a group of staff for whom alternative job positions have yet to be confirmed, placement opportunities will be facilitated elsewhere within the SIA Group,” said SIA. “The integration will provide new opportunities for staff development within the larger SIA organisation.”

SIA said it will be “business as usual from a customer perspective”, as there will be no change to SIA Cargo's operations. Seven Boeing 747-400 freighter aircraft will continue to be operated, while the cargo division will continue to manage the passenger aircraft “bellyhold” space for SIA, SilkAir and Scoot. – The Straits Times 

Telkomsigma enters public cloud business

Telkom Indonesia’s IT subsidiary, PT Sigma Citra Caraka, also known as Telkomsigma, has entered the public cloud business under the Star Cloud brand.

Unlike private cloud-computing services tailored to the needs of corporate customers, public cloud services normally come in the form of pre-bundled package aimed at the retail market.

The cloud can be created through a website by choosing from available packages that differ in processor speed, memory and disk space offered by the provider. One of main players in this business is United States-based tech giant Amazon through its Amazon Web Services.

Telkomsigma invested 90 billion rupiah (Bt232 million) for the infrastructure, president director Judi Achmadi said on Thursday.

The company expected to have 100,000 subscribers one year from now, half of whom were expected to subscribe this year, Judi added. – The Jakarta Post

EU to send team for VN seafood checks

The European Union will send a delegation to Vietnam in June to inspect the country’s food safety control system for seafood products exported to the EU.

Vietnam’s Ministry of Agriculture and Rural Development said that during the visit, scheduled from June 20 to 29, the delegation will inspect all steps involved with food safety in seafood production and business chains, including fishing vessels, fishing ports, aquaculture facilities, wholesale markets, and purchasing, pre-processing, preservation and processing facilities.

This will involve the legal system, and the organisational structure and ability of authorities who control seafood production chain from initial phases of production to final phase: export to the EU. – Viet Nam News

Philippine growth fuels inflows of hot money

Investors’ anticipation of sustained strong economic growth for the Philippines in the first quarter attracted a net inflow of foreign portfolio investment, or hot money, worth US$51.49 million in April, the Bangko Sentral ng Pilipinas (BSP) said.

In April, the $1.32 billion in portfolio investment inflows exceeded the $1.269 billion outflows, reversing the net outflows posted during the two preceding months as well as a year ago, the latest central bank showed.

The hot money inflows that month were up 3.6 percent year on year but down 3.9 percent month on month. April outflows dropped both from a year ago and a month ago by 22.1 per cent and 30.8 per cent, respectively.

“This development may be attributed to investor reaction to the World Bank’s view that the Philippines will continue to be a top performer in the region, coupled with positive sentiment in anticipation of the country’s strong gross domestic product number for the first quarter of 2017,” the BSP said in a statement. – Philippine Daily Inquirer