APEC Finance Ministers to launch new roadmap in Oct
KUALA LUMPUR: Asia-Pacific Economic Cooperation (APEC) Finance Ministers will unveil a new roadmap this October to replace the Cebu Action Plan, setting out priorities for the Finance Ministers' Process (FMP) over the next five years, said Deputy Finance Minister Lim Hui Ying.
She said the roadmap would outline medium-term initiatives and deliverables under the FMP, aimed at advancing APEC's Putrajaya Vision of an open, dynamic, resilient and peaceful Asia-Pacific community.
'It is critical for ASEAN members to work together within APEC, to ensure that our common priorities in Southeast Asia are well-embedded in this new Asia-Pacific roadmap and that initiatives in ASEAN and APEC are consistent with each other and mutually supportive,' she said.
Lim was speaking during her keynote address at a joint forum by the APEC Business Advisory Council (ABAC), ASEAN Business Advisory Council (ASEAN-BAC), and the Asia-Pacific Financial Forum (APFF) today.
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Borneo Post
an hour ago
- Borneo Post
Power-sharing of a different kind
For Malaysia, the cross-border power-sharing is a meaningful contribution to the APG scheme itself, which aims to build an electricity grid link with almost all the member countries of Asean. — Bernama photo SHOULD the Republic of the Philippines need extra electricity for its industries and private homes and cannot get it elsewhere, it can turn to Sarawak. Within minutes, through the renewable energy grid, the Asean Power Grid (APG), electricity could be transmitted to the Southern Philippines through Sabah. I take it that Sarawak has no problem with the federal government in this cross-border transaction. After all, we are selling power to the Indonesians too in a similar fashion. In December of last year, the Tenaga Nasional Berhad (TNB) began selling green energy to Singapore. So you say that Malaysia, both the West and the East, is a good source of electricity for the neighbours. Here is a good chance for Malaysia as the Asean Chair to play the role of a good promoter of product as well as act as salesman. Should there be any problem with any member of Asean with regard to the project, the Chair would be able to display tact and ingenuity to ensure that this, being an Asean project, has to proceed. Once the vendor and the buyer agree upon the terms of purchase that it is a deal, no second, third or fourth opinion needed. For Malaysia, this a meaningful contribution to the APG scheme itself, which aims to build an electricity grid link with almost all the member countries of Asean. Let's start with Malaysia. The electricity is actually from Sarawak, but never mind the saying 'lembu punya susu, sapi punya nama' (the milk is from the cow, but the buffalo gets the name). Somehow my gut feeling is that this energy grid, going through the territory of Sabah, may meet with some political problems. I'm thinking about the Philippines' claim to Sabah. I am confident that this was on the mind of the Prime Minister before he popped the suggestion, and he was confident that it would not stand in the way because this would be an Asean project. It is crucial that the Chair of Asean will be supported by the other member countries. Malaysia must make a mark during its term of office. 'Good personal relationship matters' I am told that our Prime Minister Datuk Seri Anwar Ibrahim has a good personal relationship with the President of the Republic of the Philippines. That relationship is crucial when it comes to tackling a problem relating to an economic scheme that benefits both parties. This electricity grid is one such scheme. This is a sensible suggestion from our Prime Minister. It is a practicable move that deserves full support by anyone thinking about what to do with excess electricity in Sarawak. At this stage, there appears to be clear evidence of the existence of political will on the part of Malaysian leaders in terms of state-federal relations. However, at this stage, we do not really know what the Philippines government thinks of the proposal. The potential buyer of our electricity has not made known publicly its response or even interest in purchasing power from us. I am sure there will be some response from President Ferdinand R Marcos Jr after he has received the report from his representative. Give him and his colleagues time to think about the proposal by our PM in terms of the economic viability of the purchase of power, and to make decisions at their own speed. Politics may have a role in this deal. My surmise. I hope this would not derail the initial talks on the sale and purchase. Treat the dealing like a normal sale and purchase of a product that the buyer needs and the vendor has the stock for disposal anytime – a business-like transaction. Meanwhile, we should support PM Anwar's proposal if we have enough electricity supply for our own use and enough to sell overseas. We are selling electricity to Indonesia anyway. Is there enough of the product for another buyer? As regards the sale of power to Kalimantan, my sources say that the time may come when the demand will be reduced or even stopped altogether once the Indonesians have built a hydro-power dam across the upper reaches of the River Mahakam. The power generation from that dam will serve the needs of the new capital Nusantara, and the districts along the coast including the city of Samarinda itself. There are several rivers in that part of Borneo that may be dammed for hydropower generation. In 1989, I was in the Sarawak team as a delegate attending the post-Asean Conference on Land Settlement Conference held in Samarinda. I joined a team who rode a Russian double-decker helicopter flying over the great Mahakam; we were being flown to a settlement of Kenyah and Kayan at Datah Bilang. It was an eye-opener. The river, if dammed, would generate an enormous amount of electricity for the entire region. The electricity supply from Sarawak could be affected if the Indonesians could produce enough electricity from their own dams, unless the APG steps in to enable the grid to provide the link to continue. An economic question. Between good neighbours, sharing of electrical power would be mutually beneficial on a commercial basis. It makes good economic sense. The other power (political) is not for sale, though! * The opinions expressed in this article are the columnist's own and do not reflect the view of the newspaper. Asean power grid malaysia Philippines
The Star
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Bank of China (Hong Kong) x Television Broadcasts Limited ("TVB") "Wealth Management Expo 2025" was successfully held
Driving Economic Momentum, Leading Trends with Mega Events Officiating guests - Mr. Paul Chan, GBM, GBS, MH, JP, the Financial Secretary of the HKSAR Government (Fourth Right), Miss Rosanna Law, JP, Secretary for Culture, Sports and Tourism (Third Left) and Mr. Stephen Chan, Deputy Chief Executive of BOCHK (Forth Left); together with other attending guests including Mr. Thomas Hui, JP, Executive Chairman of TVB (Third Right) and representatives from BOCHK. HONG KONG SAR - Media OutReach Newswire - 21 June 2025 - The "Wealth Management Expo 2025", powered by Bank of China (Hong Kong) ("BOCHK") and organised by TVB under the theme of "Driving Economic Momentum, Leading Trends with Mega Events" has been successfully held today. The Expo has brought together leading figures from the government, business and financial sectors to provide in-depth analysis and share valuable insights into market trends through examining the international landscape, RMB internationalisation, the mega-event economy, as well as personal and business financial Expo was officiated by Mr. Paul Chan, GBM, GBS, MH, JP, the Financial Secretary of the HKSAR Government; Miss Rosanna Law, JP, Secretary for Culture, Sports and Tourism; and Mr. Stephen Chan, Deputy Chief Executive of BOCHK. Miss Rosanna Law also shared at the summit forum on how mega events catalyse Hong Kong's economy. Other attending guests included Mr. Thomas Hui, JP, Executive Chairman of TVB and representatives from in his opening speech, "As a leading commercial bank rooted in Hong Kong for over a century, BOCHK fully leverages its regional advantages and integrated offerings to continuously enhance operational capabilities while delivering high-quality services. Apart from actively promoting green finance and inclusive financial development, BOCHK drives continuous innovation in fintech, accelerating its digital transformation. The Bank is committed to supporting Hong Kong in reinforcing its position as a global offshore RMB business hub, while deepening cross-boundary financial business within the Guangdong-Hong Kong-Macao Greater Bay Area."The opening forum of the Expo, "Dissecting Economic Pulse and Exploring Opportunities in RMB Internationalisation," featured Dr. Jianguang Shen, Vice President of Dr. Rocky Tung, Director and Head of Policy Research for the Financial Services Development Council; Mr. Dong Tao, President of Spring Capital (Hong Kong) Limited and a renowned economist; and Mr. Jack Yang, RMB Business Executive Director of BOCHK, who engaged in an in-depth discussion on the various opportunities in the internationalisation of the RMB, including how enterprises can leverage the advantages of RMB settlement to reduce cross-border transaction costs, as well as the attractiveness of RMB-denominated assets and emerging investment opportunities in the international capital Hong Kong SAR Government has been actively promoting the "Mega-event economy" in recent years, aiming to generate more business opportunities and attract more tourists through sports competitions, art exhibitions, large-scale international events and conferences. The speakers of the summit forum themed "Mega Events as Economic Catalysts: Synergy of Sports, Arts, Culture and Tourism" are Miss Rosanna Law, JP, Secretary for Culture, Sports and Tourism; Mr. Wilfred Ng, GBS, MH, JP, Chairman of the Major Sports Events Committee; and Prof. Douglas So, BBS, JP, Chairman of the Board of M Plus Collections Limited, Chairman of the Advisory Committee on Built Heritage Conservation. They conducted an in-depth analysis of the diverse opportunities created by mega events. The three speakers explored how mega events drive economic growth from multiple perspectives, and shared insights on recent preparations for organising sports mega events and their economic contributions, while emphasising the importance of participation and support from all Expo also held five thematic workshops, where several experts dissected the latest trends in the global economy and markets. Regarding global economic development, two fund workshops "Global Outlook of Asset Appreciation Potential in International Markets" and "From Asia to the World: Multi-Asset Allocation Strategies for Enhanced Returns" along with the cross-border workshop "Strategic Overview on Equity Markets and Economic Insights" emphasised the importance of focusing on Asia and global markets, empowering investors to grasp opportunities across different regions and industries to formulate prudent wealth growth strategies. The legacy planning workshop "Securing Wealth Legacy, Prosperity Across Three Generations" concentrated on planning wealth for the next generation, grounded in love and sheltered by insurance. In addition, the stock market workshop "Decoding the Stock Market: Sector Analysis and Trading Tactics" explored market trends, the AI boom and analysed the prospects of technology enrich participants' experience, the venue also featured an immersive digital experience zone. Utilising an LED spherical display and a surrounded screen, the zone showcased three main themes in a one-stop format: anti-fraud, AI data applications and ESG. Participants can learn about BOCHK's digital "Wealth Management Expo 2025" concluded successfully with fruitful outcomes. Through a full day of engaging forums, workshops, digital experience zone and sponsored booths, BOCHK hopes that industry professionals, investors and the public gained insights into changes in the international environment and market opportunities, with a focus on the RMB internationalisation and the diverse opportunities brought by the Mega-event economy, while mastering the path to wealth growth and announced the extended collaboration withbrand ambassador Moses Chan, appointing him as the premium family wealth management brand FamilyMAX & BOCHK Cross-Border GO star brand ambassador and BOC Life's Star Product & Services Ambassador. Having founded a coffee brand years ago, Moses Chan's "entrepreneur" identity has become as well-known as his acting career. Today, Moses Chan and Natalie Tong, popular Japanese bakery brand co-founder, Best Actress and Business Banking brand ambassador, appeared at the "Dialogue with the Best Actor and Actress" to share how to balance multiple roles as actors and owners of catering business. They also discussed how to utilise financial knowledge and leverage professional teams and fintech services to enhance personal and business wealth management #WealthManagementExpo2025 The issuer is solely responsible for the content of this announcement.
