Asia Week Ahead: Economic plans for ASEAN nations

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(SOUNDBITE) (English) REUTERS REPORTER, PAMELA AMBLER, SAYING: “The ASEAN Summit will be underway in Kuala Lumpur next week with 10 member states coming together.” The alliance hopes to form the

Asia Week Ahead: Economic plans for ASEAN nations

(SOUNDBITE) (English) REUTERS REPORTER, PAMELA AMBLER, SAYING:

“The ASEAN Summit will be underway in Kuala Lumpur next week with 10 member states coming together.”

The alliance hopes to form the ASEAN Economic Community by year-end to help spur cooperation between the countries.

Malaysia’s international trade minister said the bloc will grow five percent a year, surpassing the size of the EU in 10 to 15 years’ time.

Malaysia also starts off Monday (April 27) with a report of earnings for the country’s largest power group, Tenaga Nasional.

Quarterly net profit is expected to rise on the back of high electricity demand.

In the region, Singapore’s DBS bank releases first quarter results.

A slowdown in lending and a lack of capital market activity will likely mean a drop in figures for the bank.

On Tuesday (April 28), investors get a look at Thailand’s trade data for the month of March.

Further declines in imports and exports are expected as both domestic and global demand remained weak.

Sluggish exports could mean further rate cuts by the central bank to support growth. Interest rate decisions will be out the following day.

Last month saw an unexpected 25-basis point cut from policy makers.

The finance ministry will also announce new economic forecasts on Wednesday (April 29).

It’s expected to trim growth outlook as a result of recent political unrest.

Also on Wednesday (April 29), electronics companies Samsung and LG are expected to report first quarter earnings.

LG will also unveil its new smartphone the G4 early next week.

ENDS

Tags : nations, asean, plans, economic, ahead, week, asia

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