Author: Maruto Sugiyanto

Singapore’s regulator imposed a penalty against Credit Suisse over misconduct by its relationship managers in the city-state. The Monetary Authority of Singapore (MAS) has imposed a civil penalty of S$3.9 million ($3 million) on Credit Suisse for its «failure to prevent or detect misconduct by its relationship managers», according to a statement. According to the MAS, Credit Suisse’s relationship managers had provided clients with inaccurate or incomplete post-trade disclosures resulting in spreads for 39 over-the-counter (OTC) bond transactions being charged above agreed rates. Civil Penalty Settlement Credit Suisse has admitted liability for its failure to prevent or detect the misconduct and…

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KUALA LUMPUR, Nov 16 (Reuters) – Enovix Corporation, a U.S.-based advanced silicon battery firm, will establish a 5.8 billion ringgit ($1.23 billion) high-volume manufacturing facility in Malaysia, the Malaysian Investment Development Authority (MIDA) said in a statement on Thursday. The investment, which will be spent over a period of 15 years, includes the first manufacturing line amounting to 315 million ringgit, MIDA said. The company’s investment plan was disclosed to Prime Minister Anwar Ibrahim during a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in the United States, MIDA said. “Enovix’s (investment)… promises significant local spillover impact,…

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The country’s counter terrorism police have arrested militants and seized weapons, propaganda material, bomb-making chemicals ahead of national elections. Indonesia’s counter-terrorism force on Tuesday said it has arrested 59 suspected militants linked to terrorist organizations al-Qaeda and Islamic State over suspected plots to disrupt the upcoming presidential elections in February. The police unit — called Densus 88 — made the arrests in October, a spokesperson said. They also seized propaganda material, bomb-making chemicals, and weapons, Aswin Siregar said at a press conference in the capital, Jakarta. “I think this served as a warning for them that Densus 88 would not tolerate the slightest…

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After two days of comprehensive discussion among government officials, experts, and scholars from both the public and private sectors, the relevant partners have agreed that five proposals will be prepared to be submitted to ASEAN external partners by early next year. The two-day workshop, themed “Building Regional Connectivity through Common Needs Proposal Writing”, held at Kirirom Institute of Technology (KIT) located in Kirirom National Park, in Kampong Speu province concluded yesterday. This first-ever programme in Cambodia was co-organised by the Ministry of Industry, Science, Technology & Innovation (MISTI)’s National Institute of Science, Technology & Innovation and KIT. “We will try…

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The glass flooring of a bridge in Indonesia shattered this past week, killing one tourist and injuring three others. The glass-bottomed-bridge at the Geong tourist site within the Limpakuwus Pine Forest, located in the Banyumas Regency of Central Java, shattered around 10 a.m. on Wednesday, Oct. 25, 2023, sending two people plummeting to the ground 32-feet below. Two other tourists clung to the damaged bridge before onlookers rescued them. Reports indicate the glass flooring was extremely thin, measuring only 1.2 centimeters. According to Julia Schimmelpenningh, architectural industry technical manager for the Advanced Material Interlayers business of Eastman Chemical Company, glass…

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Vietnam will play a more active role in cooperation between the Association of Southeast Asian Nations (ASEAN) and the US, especially within the framework of the ASEAN Defence Ministers’ Meeting Plus (ADMM+), Minister of National Defence General Phan Van Giang affirmed on November 15. Jakarta (VNA) – Vietnam will play a more active role in cooperation between the Association of Southeast Asian Nations (ASEAN) and the US, especially within the framework of the ASEAN Defence Ministers’ Meeting Plus (ADMM+), Minister of National Defence General Phan Van Giang affirmed on November 15.Addressing in the ASEAN-US Defence Ministers’ Informal Meeting in Indonesia, Giang…

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With projections of closing out at $1 to $2 trillion by the end of the present decade and making up about a third of total regional GDP, ASEAN’s rapid digital economy growth is poised to put it at the center of global conversations about cyber rights and regulations in the very near future. These bright digital prospects are hampered by “trust gaps” in multiple areas, however, from consumer confidence in government and tech firm safeguards to vital small-to-medium business investment not viewing the region as a viable opportunity as compared to the existing Pacific heavyweight economies. Singapore’s Senior Minister and…

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London (04/11 – 67) US district judge, Denise Cote yesterday granted Sri Lanka’s request for a six-month halt on a creditor lawsuit against the country. Hamilton Reserve Bank, an obscure and tiny St Kitt’s bank with interesting ties, says it has accumulated a big chunk of one of Sri Lanka’s now-defaulted bonds and had been suing it for immediate repayment. Sri Lanka had asked for a stay on these legal proceedings to let it restructure its overall pile of debt in some peace and quiet, and had gotten heavyweight support from the UK, France and the US government. Judge Cote ruled, “The Court recognizes that…

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Berlin (24/10 – 67) UN Rapporteur on Freedom of Religion or Belief, Nazila Ghanea, visited Tajikistan from April 11 to April 21 to conduct research on issues in this field. The UN expert will assess religious freedom and its interaction with the right to freedom of expression, discuss gender equality, women’s rights, and children’s rights. She stated that the implementation of religious freedom and belief in the country is a cause for concern. Ghanea, the newly appointed UN Special Rapporteur on Freedom of Religion or Belief, called on Tajikistan to adapt and review its laws, policies, and practices regarding religion…

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Berlin (22/10 – 75) UN Special Rapporteur on Minority Issues, Fernand de Varennes, reported during his trip to the Gorno-Badakhshan Autonomous Region in Tajikistan, he met with representatives of civil society and residents of the region. Varennes arrived in Tajikistan for a working visit on October 9 till October 20. The UN Special Rapporteur told journalists that the residents of Gorno-Badakhshan informed him about violations of their rights in 2021-2022, particularly concerning the rights of detainees and cases of harsh treatment by law enforcement agencies. He stated, “People are complaining about religious restrictions as well as limitations on the use…

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