
Asean key to Southeast Asia's peace, stability, says former sec-gen
PETALING JAYA : Asean has played a key role in Southeast Asia's peace, stability and prosperity, managing the competing interests of the world's major powers effectively while fostering regional cooperation, a former secretary-general said.
Ong Keng Yong said each superpower had its own approach to preserving and protecting its interests, while small and middle powers often find strength in numbers when navigating complex global and regional challenges.
'The magic of Asean lies in it being able to appreciate the interests of big powers and multiple stakeholders, and then forge a relevant arrangement to balance the respective interests—thereby moving forward constructively,' Ong, now an ambassador-at-large for Singapore, told FMT.
He dismissed the notion that Asean meetings were 'endless talk shops', saying they were in fact vital platforms for managing differences and maintaining long-term cooperation.
'What we see as Asean leaders and ministers as well as bureaucrats meeting and talking is just one aspect of the many actions taken to keep all sides engaged.'
Ong, the executive deputy chairman at Singapore's S Rajaratnam School of International Studies, said this sustained diplomacy has helped keep the region stable, and hence, economically appealing.
'The goal is always to keep Southeast Asia attractive to business and investment, grow the economy and trade, and increase the relevance and value of Asean to all stakeholders in the international system,' he said.
Ong said the bloc was key to the peace and prosperity of all Southeast Asian nations, a factor that tends to be underappreciated.
He said the Asean nations collaborate well with each other and are able to manage crises and maintain order and peace through 'savvy diplomacy'.
Ong said maintaining Asean centrality—making the bloc the primary driving force in shaping regional cooperation and external engagement—amid geopolitical jostling and leadership initiatives by big powers was no easy feat.
Asean is made up of 10 member states with differing socioeconomic levels and political systems. Timor-Leste is expected to become its 11th member under Malaysia's chairmanship this year.
Geographically, the region holds high strategic, geopolitical and geo-economic value as it is home to the South China Sea and the Malacca Strait, two of the world's critical maritime trade routes.
According to Ong, Asean centrality reflected the dexterity of its leaders and vision to work with the region's strengths and limitations in order to survive and prosper.
'Asean leaders' readiness to innovate and be creative has moved Asean forward in a world characterised by turbulence, uncertainty, novelty and ambiguity.'
With the Asean Community Vision 2025 concluding this year, member states are already gearing up for the launch of the blocs Asean Community Vision 2045.
Launched in 2015 during Malaysia's last chairmanship, the 2025 vision saw the region rise to become the world's fourth-largest economy by GDP.
'Malaysia has been the Asean chair on numerous occasions over the past six decades. It has the capability and maturity to lead Asean to manage the various challenges in geopolitics, economic transformation, and future mandate,' said Ong.
The 46th Asean Summit, set for May 26–27 in Kuala Lumpur, will focus on the theme 'Sustainability and Inclusivity'.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Malay Mail
22 minutes ago
- Malay Mail
DFI Retail Group Holdings Limited Half-Year Results For The Six Months Ended 30 June 2025 And Announcement Of Special Dividend
39% underlying earnings growth Increased contributions from associates, Health & Beauty and Food Health & Beauty delivered strong like-for-like (LFL) sales growth of 4% Portfolio simplification continues with the announced divestment of Singapore Food business and sale of minority stake in Robinsons Retail Proceeds from Yonghui and Robinsons Retail divestments strengthen balance sheet to a net cash position of US$442 million Raised full-year underlying profit guidance to be between US$250 million and US$270 million Declared special dividend of US¢44.30 per share in addition to interim dividend of US¢3.50 Retail excellence : Delivering a best-in-class customer proposition : Delivering a best-in-class customer proposition Customer access : Strategically expanding store network : Strategically expanding store network Omnichannel and data ecosystem : Powering e-commerce and retail media with data-driven insights : Powering e-commerce and retail media with data-driven insights Lean and agile operations : Streamlining business for more efficient decision making : Streamlining business for more efficient decision making Evolving portfolio: Prioritising capital returns and shareholder value [1] Own brand and e-commerce related costs are reclassified from selling, general and administrative expenses to the corresponding business segments beginning first half of 2024 HONG KONG SAR - Media OutReach Newswire - 22 July 2025 - "We are pleased to report strong first-half underlying profit growth to US$105 million, supported by improved Health & Beauty and Food profitability, higher contribution from associates, and a stabilising revenue growth trend. Our ongoing portfolio evolution enables us to prioritise capital on high-margin businesses and growth initiatives, while providing strategic flexibility for inorganic opportunities. As a result of our strategic progress, we are pleased to announce a special dividend of US¢44.30 per share – the first in 18 years – returning a total of US$647 million to shareholders, including the regular interim dividend. These decisions underscore our confidence in DFI's long-term growth strategy and commitment to shareholder returns."Scott PriceThe Group continued to demonstrate strong business resilience by effectively executing its strategic and margin expansion initiatives. Despite the continued shift towards value by consumers, LFL subsidiary sales for the first half of 2025 remained largely stable compared to the same period last year, excluding the impact of a significant cigarette tax increase in Hong Kong and the divestment of Hero Supermarket business in Indonesia in 2024. LFL subsidiary sales have demonstrated a steady recovery with a return to moderate growth in the second quarter of progress has been made in the Group's strategic pivot from a portfolio investor to an operating company centred on five key deliverables:The Group continues to reinvest in pricing to deliver a stronger customer value proposition while resetting our sourcing strategy to expand gross profit. Reduction in financing costs and higher underlying profit from associates contributed to a 39% increase in underlying profit attributable to shareholders for the first half of Group continues to evolve its portfolio to enhance operational focus and enable more efficient capital allocation, supporting subsidiary business growth both organically and inorganically should shareholder accretive opportunities arise. During the reporting period, the Group completed the divestment of minority stakes in both Yonghui and Robinsons Retail, generating total gross proceeds of approximately US$900 million. Additionally, the Group announced the divestment of its Singapore Food business for approximately US$93 million in cash a result of this strategic progress, the Board has approved a special dividend of US¢44.30 per share, equivalent to US$600 million in total payment. Concurrently, the Group declared an interim dividend of US¢3.50 per share, in line with the prior comparable period. These decisions underscore the Group's confidence in its long-term growth strategy and its commitment to creating value for its revenue from subsidiaries for the first half of 2025 was US$4.4 billion, up 0.3% year-on-year on a LFL basis, excluding the impact of a significant cigarette tax increase in Hong Kong and the divestment of the Hero Supermarket business in Indonesia in 2024. Strong sales growth in the Health & Beauty division was offset by lower contributions from other segments. Total revenue, which includes 100% of associates and joint ventures, was US$8.2 billion. Excluding the impact of the minority stake divestment in Yonghui completed at the end of February 2025, as well as the additional two months of sales contribution from Robinsons Retail following the stake disposal at the end of May 2025, total revenue increased by approximately 1%.Total underlying profit attributable to shareholders for the first half of 2025 reached US$105 million, representing a year-on-year increase of 39%, primarily driven by improved performance in associates. Underlying profit from subsidiaries was US$75 million, reflecting a 3% year-on-year increase. Strong performance in the Health & Beauty and Food divisions was partially offset by lower profitability in Convenience as a result of the cigarette tax impact, and higher selling, general and administrative expenses[1] primarily due to a one-time reversal of long-term incentive accruals in 2024 related to executive departures. After accounting for the divestment of Yonghui, underlying profit from associates was US$30 million, an improvement from US$3 million from the prior comparable period, supported by higher contributions from both Maxim's and Robinsons cash flow for the period was a net inflow of US$89 million, compared with US$61 million in the first half of 2024. As at 30 June 2025, the Group's net cash was US$442 million, compared to US$468 million net debt at 31 December for the Health & Beauty division were US$1.3 billion, up 4% year-on-year on a LFL basis, underscoring the strengthening brand equity of Mannings and Guardian as trusted advisors in health and wellness. Mannings Hong Kong delivered strong LFL sales growth of 6%, driven by growing basket size as the team continued to enhance assortment in key wellness categories, including supplements and derma skin care. Solid LFL sales performance of Guardian was supported by basket size increases across key Southeast Asian markets and improved promotional efficiency, particularly in Indonesia. Integrating the Own Brand team across Food and Health & Beauty drove stronger product relevance and cost efficiency, resulting in improved sales and profit productivity per SKU. Overall, divisional profit grew 8% to US$109 million on a LFL basisTotal Convenience sales were US$1.1 billion, down 4% year-on-year on a LFL basis, primarily due to reduced volumes of lower-margin cigarette following tax increases in Hong Kong at the end of February 2024. Excluding cigarettes, overall LFL sales were down 1%. Hong Kong performance recovered in the second quarter, following the annualisation of the tax effect and continued growth in higher-margin ready-to-eat (RTE) categories. Excluding cigarettes, LFL sales for the first half were in line with the prior comparable period. 7-Eleven Singapore reported LFL sales below the same period last year. South China reported robust sales growth due to network expansion but lower LFL sales given intensified subsidy initiatives from food delivery platforms. The team remains focused on driving footfall and sales by expanding the RTE offering, including a larger rollout of the Food Bar format to 375 stores by the end of this year. Despite a favourable sales mix shift towards higher-margin RTE products, profit for the division dropped by 18% year-on-year to US$38 million due to tough comparables in the first half of 2024 as a result of a one-off windfall gain from cigarette inventory purchased before tax increase. Excluding which, profit for the division was up 9% for the Food division reduced marginally to US$1.5 billion, after excluding the impact of the divestment of the Hero Supermarket business last year. Sales resumed growth in the second quarter, supported by the Group's focus on enhancing the value of consumers' food baskets. In Hong Kong, investment in reduced pricing has resulted in a 2.5% increase in footfall in May and 3.4% in June, in addition to a consistent rise in items per basket. To further enhance its fresh and value proposition, the Wellcome team launched a partnership with Dingdong Limited (DDL), a leading Chinese online grocery platform, during the second quarter of 2025. The collaboration offers consumers a wider selection of fresh produce at more competitive prices. The team's effort to strategically source the core basket will support both price reinvestment and continued net margin expansion in the coming years. Overall Food profit grew 14% year-on-year to US$24 million on a LFL basisSales performance of the Home Furnishings division remained challenged due to intense competition and shifts in basket mix, mainly in Hong Kong and Indonesia while Taiwan demonstrated relative resilience. Effective cost control measures across markets supported a recovery in underlying profit for the first half of the year. The IKEA Hong Kong business is strengthening its value-driven omnichannel proposition by reinvesting in core product pricing, evolving seasonal food range and leveragingdata for more precise customer targeting. In Indonesia, the IKEA team remains focused on driving sales through an expanded digital presence and intensified marketing the first half of 2025, the Group continued to strengthen its digital presence with the launch of new online channels, including a 7-Eleven app in Singapore. Our expanded digital assets, quick commerce service with third-party platforms and data-driven personalised offerings create a seamless omnichannel shopping experience across physical and digital touchpoints, contributing to a growing e-commerce penetration of approximately 5%. Daily e-commerce order volume surpassed 96,000, reflecting an 85% year-on-year increase and a substantial improvement in profit the Group's retail media business, continues to gain strong momentum, completing over 160 targeted marketing campaigns in the first half of 2025, compared to 12 in the prior comparable period. The DFIQ team has successfully piloted in-store media in select Mannings stores in Hong Kong, as well as Guardian and 7-Eleven outlets in Singapore. This uniquely integrated online-to-offline retail media solution provides suppliers with an expanded reach, driving enhanced customer loyalty and conversion throughout the entire purchase Group's share of Maxim's underlying profits was US$14 million for the first half of 2025, up from US$8 million in the same period last year, underpinned by continued cost optimisation and operational efficiency measures. Sales performance was largely stable year-on-year, with strong growth in Southeast Asia offset by weaker restaurant performance in Hong Kong and the Chinese profit contribution from Robinsons Retail was US$18 million, an improvement of approximately US$9 million from the first half of 2024. This includes the impact of two additional months of contribution, amounting to approximately US$5 million, following the completion of the divestment at the end of May divestment of the Group's stake in Yonghui was completed in February 24 March 2025, the Group announced that it had entered into a definitive agreement with Macrovalue, a leading Southeast Asian retail group, with respect to the divestment of its Singapore Food business, which includes the Cold Storage, CS Fresh, Jason's Deli and Giant brands, for a total cash consideration of SGD125 million or approximately US$93 million, subject to adjustments. The transaction is subject to closing conditions and is expected to be completed by the end of 30 May 2025, the Group announced and completed the divestment of its 22.2% stake, in Robinsons Retail Holdings, Inc., for a total cash consideration of PHP15.8 billion or approximately US$283 million. Following the completion of the transaction, the Group ceases to hold any interest in Robinsons above transactions reflect the Group's strategic pivot from a portfolio investor to a focused operating company, enabling the Group to redeploy capital to support the growth of its subsidiary businesses with higher accretive Group remains confident in its ability to navigate the evolving market landscape, supported by strategic initiatives aimed at driving market share gain and profit growth across all businesses. These initiatives include strengthening the value proposition, optimising assortment through data-driven insights, expanding omnichannel presence and accelerating monetisation of digital assets. With a more focused business portfolio and enhanced operational efficiency, the Group is committed to delivering sustained, profitable growth by balancing ongoing investments in businesses and areas with long-term strategic value, while also increasing returns for Group restates its full-year organic revenue growth outlook to a range of 0.5% to 1.0% (from approximately 2%), reflecting broader economic uncertainty and a sharper-than-expected decline in cigarette sales. Despite a more cautious revenue outlook, the Group expects to deliver stronger profitability through enhanced operational efficiency and disciplined cost management. The Group, therefore, revises its full-year guidance of underlying profit attributable to shareholders to be between US$250 million and US$270 million (up from previously between US$230 million and US$270 million).Scott PriceHashtag: #DFIRetailGroup#Guardian#Mannings#7-Eleven#ColdStorage#Giant#Wellcome#IKEA#yuu#Maxim's The issuer is solely responsible for the content of this announcement. DFI Retail Group DFI Retail Group (the Group) is a leading Asian retailer, driven by its purpose to 'Sustainably Serve Asia for Generations with Everyday Moments'. At 30 June 2025, the Group and its associates operated over 7,500 outlets, of which over 5,500 stores were operated by subsidiaries. The Group, together with its associates, employed over 83,000 people, with over 45,000 employed by subsidiaries. The Group had total annual revenue in 2024 of US$24.9 billion and reported revenue of US$8.9 billion. DFI is dedicated to delivering quality, value and service to Asian consumers through a compelling retail experience supported by an extensive store network and highly efficient supply chains. The Group including its associates operates a portfolio of well-known brands across five key divisions: health and beauty, convenience, food, home furnishings and restaurants. The principal brands are: Health and Beauty • Mannings on the Chinese mainland, Hong Kong and Macau S.A.R.; Guardian in Brunei, Indonesia, Malaysia, Singapore and Vietnam. Convenience • 7-Eleven in Hong Kong and Macau S.A.R., Singapore and Southern China. Food • Wellcome and Market Place in Hong Kong S.A.R.; Cold Storage and Giant in Singapore; Lucky in Cambodia. Home Furnishings • IKEA in Hong Kong and Macau S.A.R., Indonesia and Taiwan. Restaurants • Hong Kong Maxim's group on the Chinese mainland, Hong Kong and Macau S.A.R., Cambodia, Laos, Malaysia, Singapore, Thailand and Vietnam. The Group's parent company, DFI Retail Group Holdings Limited, is incorporated in Bermuda and has a primary listing in the equity shares (transition) category of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group's businesses are managed from Hong Kong. DFI Retail Group is a member of the Jardine Matheson group.


Focus Malaysia
an hour ago
- Focus Malaysia
Singapore's cybersecurity firm raises concerns over transparency in Marina Bay Sands Tower 4 tender
SINGAPORE-BASED Cybersec Technology Pte Ltd has today (July 22) issued an official statement expressing serious concerns over the lack of transparency and the release of misleading information during the tender process of Marina Bay Sands (MBS) Tower 4 project. Cybersec stated that during the entire tender preparation phase, the company continuously received information from Larry Chiu who is Marina Bay Sands' international marketing president and one Yang Lixin. Whether explicit or implied, these communications clearly suggested that Cybersec had been selected as the executing party for the project. 'Based on these communications, the company firmly believed that the project was essentially confirmed,' Cybersec revealed in a statement 'Acting in good faith, Cybersec invested heavily in manpower, resources, and time — including forming a dedicated team, drafting technical proposals and organising site inspections.' However, during the formal bidding process, Cybersec was excluded from the list of qualified bidders and has not received any official clarification or explanation to date. The company claimed that the unexpected turn of events has severely impacted its operations and reputation in addition to seriously undermined the fairness and transparency that should have been upheld in the tender process. 'We solemnly warn all companies and individuals to remain alert to behaviours that use informal channels to release misleading information and manipulate market expectations,' asserted Cybersec's representative Yang Songyu. 'We've every reason to believe that certain individuals have abused their influence in the tender process to create false expectations and damage fair competition.' As it is, Cybersec stressed that it holds a large volume of evidentiary materials – including e-mail correspondence, signed agreements, draft project documents and communication records – that sufficiently demonstrate the course of misleading behaviour and the resulting broken commitments. The company also formally declared that it will fully cooperate and make all relevant materials public should regulatory authorities initiate an investigation in order to safeguard its legal rights and the fairness of the tender process. 'Marina Bay Sands Tower 4 is a major project of international interest. Transparency, fairness, and integrity are core principles that must not be compromised in its tender process,' justified Cybersec. 'We urge the relevant Singaporean authorities to intervene immediately, investigate the information mechanisms and responsibilities of the involved parties and rectify improper conduct.' Added the company: 'Only through strict governance and regulatory mechanisms can investor confidence be protected and Singapore's status as one of the world's most reputable business and legal environments be maintained.' – July 22, 2025 Main image credit: Nothing


Focus Malaysia
2 hours ago
- Focus Malaysia
Balance of trade between nations need to reflect parity and equality
ONE of the reasons cited by US President Donald Trump in increasing trade tariffs with Malaysia is that the balance of trade has been in Malaysia's favour for many years, and that the Malaysian government has not seriously addressed the problem. Trump had expressed hopes that higher tariffs could redress the situation and expects Malaysia to purchase a more wider range of American goods and products. Many nations too have lopsided balance of trade with the US and this is one of the reasons for the much-feared Trump's tariffs worldwide which will begin to be implemented from Aug 1. Numerous countries have taken advantage of the large unrestricted open US market to increase exports exponentially but buy back less in imports leading to an unfavourable balance of trade. The US has lost out to many countries in the trade of agricultural and manufactured goods as well as services. This is the reason why the US is now the world's biggest debtor nation. Many American multi-national have also added to the problems by opening new manufacturing centres outside the US to take advantage of lower labour costs and other incentives and exporting their products to the US for higher profits. This has led to the famous 'rust belt', a vast number of US factories that had been shuttered down due to economic changes. This became a major socio-economic issue during the presidential elections. The range of products and services the US depends on worldwide especially from the European Union (EU) and Asean countries has increased manyfold over the last few decade and is straining the US economy with the huge range imports which are not matched with imports by these countries. This has been cited as one of the reasons for the much talked about decline of the US as a superpower. Trump is imposing punitive tariffs on nation he feels are restricting US imports through restrictions, regulations and import substitution. The entry of China as a big time trading nation has upset the balance of trade internationally. China's economy of scale has led to cheaper and competitive prices and many nations have lost their erstwhile monopoly. Previously, Malaysia trade with the US was more balanced as Malaysia used to buy a large range of manufactured products and other goods and services from the US. However, the situation has drastically changed when China began flooding its products in Malaysia. This led to Malaysia buying less from not only the US but also the EU, among others. Malaysia often lauds its favourable trade balance as an economic achievement and advantage but does not take into account the disadvantage it causes to others. For a healthy trading relationship there should not be a very wide gulf or deficit between trading partners. Another country with a perennially lopsided balance of trade with Malaysia is India. India has had an unfavourable balance of trade with Malaysia for decades. India is Malaysia's largest importer of palm oil and is one of the main countries Malaysia considers to sell off any glut arising in palm oil. This enables palm oil prices to be kept high and well above production costs. The palm oil sector has been one of the most profitable and Malaysia reaps billions of ringgit due to high prices fuelled by large scale imports by India. In fact whenever palm oil exporters get wind of prospective large scale purchase of palm oil from India due to domestic vegetable oil shortage or demand for festivals many of these exporters and speculators jack up the prices. The situation became so exploitative more than a decade ago when India decided to have a more stable palm oil pricing with a government to government arrangement with Indonesia. Needless to say Malaysia-India trade ties need to become more balanced and fair to both sides. Malaysia needs to import more from India considering the presently wide range of manufactured as well as tradition products from India. Indian investors and businesses need to reciprocate by increasing their economic activities in Malaysia and their involvement in the IT and related sectors is one way to improve the balance of trade. The Malaysian Indian community should look into good investment opportunities in Tamil Nadu as the government is providing various incentives for export-related manufacturing for small and medium enterprises (SMEs) and larger firms. Alternatively, joint ventures between India and Malaysia need to be increased .This will also help redress the gap between imports and exports. Governments worldwide need to ensure that the balance of trade is fair and amicable for both sides and ensure that exploitative restrictions, over-regulation and domestic discrimination as well as unfair practices do not lead to countries reacting with higher tariffs and taxes. Trump's tariffs show how the US now unilaterally reacts to stop the disadvantages to the US economy. He has shown the way as to how to redress unfavourable trade balances with tariffs and other restrictions to save a country's economy. Tariffs will be a feature of the future with more nations feeling they are being exploited through unfair and discriminatory trade practices. Suffice to say, the days of unrestricted open markets are officially over. ‒ July 22, 2025 V. Thomas is a Focus Malaysia viewer. The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia. Main image: AFP/Andrew Hanik