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CNA
42 minutes ago
- CNA
Singapore and Cambodia to deepen partnerships in renewable energy, carbon markets: PM Wong
SINGAPORE: Singapore Prime Minister Lawrence Wong discussed "several priority areas of cooperation" - including renewable energy and agri-trade - with his Cambodian counterpart Hun Manet in Phnom Penh on Wednesday (Jul 2). Mr Wong is in Cambodia for an introductory visit. Following a ceremonial welcome, he met with with Mr Hun Manet, where they "reaffirmed the excellent ties between Singapore and Cambodia", Singapore's Ministry of Foreign Affairs (MFA) said in a statement. MFA noted that 2025 marks the 60th anniversary of diplomatic relations between the two countries. "The Leaders agreed on the importance of deepening bilateral cooperation across various sectors, including trade and investment, people-to-people exchanges, human capital development, renewable energy, carbon credits, agri-food cooperation, and the development of the ASEAN power grid," said MFA. "They also reaffirmed Singapore and Cambodia's commitment to maintaining ASEAN solidarity and unity, and building an ASEAN that is more prosperous, peaceful and interconnected." Mr Hun Manet also hosted an official lunch in honour of Mr Wong. In his toast speech, Mr Wong said that the two countries are working together to build a "greener and more interconnected ASEAN" by deepening cooperation in renewable energy. He noted Singapore's project to import low-carbon electricity from Cambodia, "one of the key building blocks for the ASEAN Power Grid". Mr Wong also said that the two countries are working together on "high-quality carbon markets", including an implementation agreement on carbon credits. "This will mobilise financing for clean-energy projects, uplift rural communities and improve livelihoods, while enabling both our countries to hit our net-zero goals," he said. Deepened collaboration in agri-trade will mutually benefit Singapore and Cambodia, as Singapore imports almost all its food, while the latter is a key agricultural exporter, Mr Wong said. Singapore and Cambodia will also "continue to strengthen ASEAN centrality and unity", Mr Wong said. "In this uncertain global environment, it is more important than ever for ASEAN to stay cohesive, uphold open channels of dialogue, and work together to resolve our differences peacefully. "Only then can we preserve our relevance, and continue advancing the region's collective interests." Mr Wong also called on Senate President Hun Sen at the Senate House, MFA said. Cambodia-Thailand border, and encouraged both sides to resolve the matter peacefully and amicably, in line with the spirit of ASEAN solidarity," said MFA. A territorial dispute at the border has seen a tense troop buildup by both sides. Mr Wong expressed his hope that both sides "de-escalate tensions, engage constructively, and reach an amicable solution that upholds international law and the broader stability of the region", added MFA.
Business Times
an hour ago
- Business Times
Indonesia's Pertamina seeks US$700 million loan to build vessels: sources
[JAKARTA] Indonesia's state-owned oil giant Pertamina and its shipping arm are seeking an offshore loan of about US$700 million for the construction of vessels, according to people familiar with the matter. Pertamina sent a request for proposals to banks for the loan in recent weeks, seeking a tenor of around ten years, the people said, who asked not to be named discussing private matters. The company and Pertamina International Shipping will be the borrowers of the proposed facility, they added. Discussions with lenders are preliminary and the deal's details could change, the people said. Pertamina International Shipping is seeking funds to support its fleet investment plan to strengthen its logistic services and boost business growth, said Muhammad Baron, PIS' company secretary to Bloomberg News when asked about the loan, without elaborating further. Indonesia's financial markets bounced back recently after a torrid few months, with global funds snapping up US$1.5 billion of government bonds in May, according to data compiled by Bloomberg. The country's offshore syndicated loans also took off in recent weeks, potentially marking a comeback after a period of muted activity. Sovereign wealth fund Danantara recently sent a request for proposals to banks for a multicurrency borrowing of as much as US$10 billion, in what could be South-east Asia's largest loan. Meanwhile, Indonesia's Ministry of Finance is marketing a 252.8-million euro (S$379.2 million) facility, a rare instance of the government body tapping the syndicated market. The Pertamina loan comes as Indonesian authorities investigate a US$12 billion corruption probe involving the oil giant. In May, Indonesian authorities contacted a number of Singapore-based trading companies to request their cooperation, and executives from Pertamina subsidiaries were arrested in February. The volume of loans denominated in US dollars, euro and the Japanese yen – also known as G3 currencies – from Indonesia slumped 27 per cent to US$3.9 billion so far in 2025 versus the same period last year, according to Bloomberg-compiled data. Pertamina International Shipping last raised a US$185 million syndicated loan in February 2023. Meanwhile, the group's upstream unit Pertamina Hulu Energi last week signed a US$1.2 billion revolving credit facility. BLOOMBERG
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CNA
an hour ago
- CNA
Work It - Colleague at a new job giving the cold shoulder? Here's how to break the ice
Work It You just joined a company and there's an uncooperative colleague who sees you as competition. What can you do to ease the tension? Have a work-related question to ask a career counsellor? Email us at cnapodcasts [at]
