Latest news with #South-eastAsian
Straits Times
17 hours ago
- Politics
- Straits Times
On top form, Macron projects France, Europe as reliable partners for South-east Asia
French President Emmanuel Macron (centre) and his wife Brigitte with Indonesian President Prabowo Subianto during a visit at Borobudur Temple, in Central Java, on May 29. PHOTO: AFP – Few leaders of major Western countries would contemplate devoting an entire week to touring South-east Asia, not because the region is unimportant but more because of other pressing commitments at home . Yet French President Emmanuel Macron has done precisely that. He began his three-nation South-east Asian tour in Vietnam on May 25, went on to Indonesia on May 28, and is delivering the keynote speech at the Shangri-La Dialogue in Singapore on May 30. By the time he returns to Paris, a whole week would have passed. This is undoubtedly an impressive display of French diplomacy, a powerful opportunity to defend France's positions on the conflicts in Ukraine and Gaza, as well as the country's strategy for the Indo-Pacific. Everywhere Mr Macron went, his top officials tried to persuade the local media that the tour is designed to present France and Europe – on behalf of which Mr Macron often claims to talk – as both uniquely reliable and understanding partners, unlike the United States or China which are vying for top influence in the region. Yet in reality, all French presidents since General Charles de Gaulle, who founded the current Republican Constitution back in 1958, have argued that they were charting a 'middle road' approach between superpowers by offering 'no strings attached' partnerships, as the Reuters news agency, quoting briefings from French ministers, put it this week. So the real challenge for Mr Macron during his latest tour of South-east Asia is to persuade his hosts that such old French slogans have new and practical meanings. On this, Mr Macron appears to have scored well. French presidents' power over foreign and security policies He can devote so much time and energy to foreign tours because, according to the French Constitution and political practice, the conduct of foreign and security policies are the President's exclusive decision-making domains, the so-called 'chasse gardée' or 'private hunting ground' of the man who sits in the Elysee Palace. French foreign and defence ministers are appointed to execute the President's orders and dismissed when they fail to do so; sometimes, they are not even consulted before the President launches new initiatives. The current French government has no parliamentary majority and has struggled to adopt a budget. Mr Macron may also be forced to hold fresh general elections later in 2025 , the second such ballot in as many years. But none of this affects the President's foreign policy agenda, the sort of luxury most other European leaders do not enjoy. Although Mr Macron may appreciate the comparison, the powers he wields most closely resemble those of US President Donald Trump and Chinese President Xi Jinping rather than those of fellow European leaders. Coupled with this is Mr Macron's deep interest in foreign and security questions, his extensive knowledge of these topics and his readiness to spend hours talking to journalists and academics about such matters. It all makes the French President a media favourite and a feast at any international conference. Occasionally, Mr Macron's desire to be contrarian and challenge received wisdom gets him into trouble. In February 2022, for instance, he refused to accept US intelligence warnings that Russia was about to invade Ukraine and continued to believe that he had a personal friendship with Russian President Vladimir Putin. In April 2023, Mr Macron told journalists on a flight back from China that it was not the Europeans' business to be 'followers' of US policy on Taiwan by 'getting caught up in crises that are not ours'. The comments are now widely seen as a blunder, and the President has repeatedly rolled back from them. Still, one of Europe's longest-serving and most experienced politicians was on top form this week. Huge contracts from Vietnam Despite a long colonial history and shared cultural and diaspora links in France, no French president has visited Vietnam for almost a decade, and the presence of French companies in Vietnam's economy remains negligible. Now, however, big contracts for the sale of Airbus commercial jets may be supplemented by future agreements on nuclear cooperation, railways and other infrastructure projects. While the €9 billion (S$13.1 billion) price tag put on the contracts Mr Macron signed in Vietnam may be exaggerated – Airbus, for instance, is not an exclusive French enterprise, so its sales cannot be attributed solely to France – there is no question that the deals are substantial. Vietnam's President Luong Cuong (right) and his wife Nguyen Thi Minh Nguyet (left) with France's President Emmanuel Macron and his wife Brigitte during a state dinner in Hanoi on May 26. PHOTO: AFP Nor is there any doubt that targeted by 46 per cent US trade tariffs and pressure from China, whose President Xi Jinping visited Hanoi in April , Vietnam welcomes this renewed French engagement. France thus became the only European country that Vietnam classifies as a first-level strategic partner, a status on par with Hanoi's three historical partners: China, Russia and India. 'My brother President Prabowo' Mr Macron's trip to Indonesia was equally significant. French Armed Forces Minister Sébastien Lecornu already visited Jakarta in January to deepen the defence partnership between the two countries, which are celebrating 75 years of diplomatic relations in 2025 . Indonesia has yet to receive any of its 42 ordered French-made Rafale fighter jets, reputedly worth US$8.1 billion (S$10.4 billion), and negotiations over the acquisition of two Scorpene-class French submarines are ongoing, although a framework agreement is now in place. One constant obstacle is Indonesia's insistence on offsets, requiring French manufacturers to share at least a third of any defence contract value with local companies. However, coming at a time when the performance of the Rafale jets was called into question in the recent military showdown between India and Pakistan, the reaffirmation of France as a major military supplier of such jets to Indonesia is a notable achievement. Progress on the delivery of Scorpene submarines could also enhance France's efforts to sell the boats to the Philippines as well. Mr Macron also enlisted Indonesia in building diplomatic momentum for an international summit on the Palestinian question, which France plans to co-chair with Saudi Arabia in New York at the end of June. In return, President Prabowo Subianto – whom Mr Macron now calls a 'brother' – declared that 'once Israel recognises Palestine, (Indonesia) will be ready to recognise Israel and establish diplomatic relations' with the Jewish state. That was not the first time Mr Prabowo made such a suggestion; the Indonesian leader already mentioned this possibility on April 12 while on a visit to Turkey. The entire topic is hardly relevant since Israel has no intention of recognising an independent Palestinian state. Nonetheless, Mr Prabowo's statement boosted Mr Macron's claim that France can lead in efforts that not only alleviate the suffering of Palestinians but also normalise Israel's relations with the world's most populous Muslim nation. Mr Macron has often been criticised for talking up France's importance well beyond the country's capabilities. But that is not such a sin at a time when many other European leaders remain utterly absorbed by their seemingly insurmountable domestic problems. Jonathan Eyal is based in London and Brussels and writes on global political and security matters. Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
19 hours ago
- Politics
- Straits Times
Philippines says China has no right to interfere with its ‘lawful' activities in the South China Sea
A Philippine Coast Guard ship seen surrounded by Chinese maritime militia vessels and a Chinese Coast Guard ship in the South China Sea, on Oct 4, 2023. PHOTO: REUTERS Philippines says China has no right to interfere with its 'lawful' activities in the South China Sea MANILA - The Philippine foreign ministry said on May 29 that China has no right to object to or interfere with its lawful and routine activities in the South China Sea. The ministry said it also 'rejects and refutes' recent statements of the Chinese embassy in Manila that Beijing has indisputable sovereignty over the Spratly islands. The Philippines, Malaysia, Vietnam, Taiwan and China between them have claims and a presence on dozens of features in the Spratly archipelago, ranging from reefs and rocks to islands, natural and artificial. China's manmade islands there include runways, radar towers, ports and missile systems. 'We urge China to respect the Philippines' sovereignty and jurisdiction, even as we continue to pursue peaceful and legal means to manage differences and the situation at sea,' foreign ministry spokesperson Teresita Daza said in a statement. China and the Philippines traded accusations last week following a confrontation between two of their vessels in contested waters of the South China Sea, the latest incident in a long-running row in the strategic waterway. The Philippines' fisheries bureau said the lives of a civilian crew were put at risk when the Chinese coast guard fired water cannons and sideswiped a vessel as it conducted marine research around a disputed reef. The Chinese coast guard said two Philippine vessels had illegally entered waters near Subi Reef, a Chinese-built artificial island, and organised personnel to land on the unoccupied sandbars of Sandy Cay. 'The Philippines is clearly within its rights to conduct routine maritime operations and scientific research in and around these features, and will continue to do so,' Ms Daza said. 'China has no right to object much less interfere with these lawful and routine activities.' China claims sovereignty over nearly all the South China Sea, including parts of the exclusive economic zones of Brunei, Indonesia, Malaysia, the Philippines and Vietnam. An international arbitral tribunal in 2016 said Beijing's expansive claim has no basis under international law. The Chinese embassy in its statement sent to media on May 26 said the Philippines had since January made 27 'unauthorised landings' on features, despite a 2002 agreement among South-east Asian countries and China to refrain from doing so. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
21 hours ago
- Politics
- Straits Times
Thai, Cambodian army chiefs to meet over border clash
An exchange of gunfire between Cambodian and Thai troops along their disputed border resulted in the death of one Cambodian soldier. PHOTO: EPA-EFE Bangkok - The military chiefs of Thailand and Cambodia will meet on May 29, both governments said, after a Cambodian soldier was killed in a border clash. Thailand's Prime Minister Paetongtarn Shinawatra told reporters on May 29 that 'both sides should remain calm and discuss to see what we can agree', and called for peaceful discussion. Her Cambodian counterpart Hun Manet wrote on Facebook that he hoped the meeting between the two army commanders 'will yield positive results'. Thai Defence Minister Phumtham Wechayachai told journalists the talks will be held on May 29 afternoon, adding that there had been a 'misunderstanding by both sides'. A Cambodian soldier was killed on May 28 during an exchange of gunfire with the Thai army at the border, a Cambodian army spokesman said. His death – a rare fatality along the long-sensitive frontier – came after Cambodian and Thai leaders attended a South-east Asian summit where the regional Asean grouping vowed greater cooperation. Thailand's military said May 28 that its soldiers fired in response to gunshots from Cambodia's border force, leading to an exchange lasting around 10 minutes before the Thai saide said the Cambodians requested a ceasefire. Cambodian Royal Army spokesman Mao Phalla confirmed the clash on May 28, but said Thai soldiers had attacked Cambodian troops who were on border patrol duty in northern Preah Vihear province. 'Our soldier died in the trenches. The Thais came to attack us,' he said. 'Remain calm' Cambodia and Thailand have long been at odds over their more than 800km-long border, which was largely drawn during the French occupation of Indochina. Bloody military clashes between the South-east Asian neighbours erupted in 2008 over the Preah Vihear temple near their shared border. The row over a patch of land next to the 900-year-old temple led to several years of sporadic violence, resulting in at least 28 deaths before the International Court of Justice ruled the disputed area belonged to Cambodia. In February, Bangkok formally protested to Phnom Penh after a video of women singing a patriotic Khmer song in front of another disputed temple was posted on social media. On May 29, influential former Cambodian prime minister Hun Sen – Mr Hun Manet's father, and an ally of Ms Paetongtarn's father, ex-Thai premier Thaksin Shinawatra – urged calm and a peaceful resolution to the ongoing border issues between the two countries. Ms Paetongtarn travelled to Cambodia in April for a two-day visit, during which she met Mr Hun Manet to discuss cross-border cooperation on issues such as online scams and air pollution. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
a day ago
- Sport
- Straits Times
Manchester United booed off after friendly loss in Malaysia
Manchester United's Kobbie Mainoo in action against Asean All Star's Amani Aguinaldo. PHOTO: REUTERS Manchester United booed off after friendly loss in Malaysia KUALA LUMPUR - Manchester United suffered fresh embarrassment and were booed off as they lost 1-0 to a South-east Asian XI in Kuala Lumpur on May 28 in front of 72,550 football fans. Ruben Amorim's side, who finished 15th in the Premier League for their worst season since 1974, looked lethargic and devoid of ideas in the gruelling heat. Some fans at Bukit Jalil National Stadium left before the end and there were boos at the final whistle. United have struggled for goals all year and it was more evidence why they are reportedly prepared to shell out £62.5 million (S$100 million) on Brazilian international attacker Matheus Cunha from Wolves. Amorim, who was clearly frustrated during the match and shook his head at times, refused to confirm the Cunha deal. The Portuguese coach was happy though to leave the Malaysian capital and head to Hong Kong with no new injuries and had no issue with fans booing his team off. 'We were slow and we still don't have it in us to win every exercise in training, every game,' he said. 'The boos from the fans, it's something that we need.' He added: 'These people believe in Manchester United no matter what the context. 'It's our duty to improve the team and to improve the team next season. 'For me, we need to have that belief, that hunger to win every game, that is important.' Manchester United's Bruno Fernandes after the match. PHOTO: REUTERS In their first of two post-season games in Asia, United started with several regulars including Harry Maguire, Rasmus Hojlund, Casemiro, Diogo Dalot, Manuel Ugarte, Kobbie Mainoo and Andre Onana. In temperatures of 32 deg C at kickoff, it was the Asean All Stars who looked more threatening in the first half. They shot just wide in the 16th minute and Onana was then called into action with a low save that endeared him to the pro-United crowd. Fans cheering in the stands before the May 28 match. PHOTO: AFP Mainoo provided the first real threat for United with a 25-yard effort that was turned behind for a corner, before the young midfielder saw his shot cleared off the line in the 38th minute. Captain Bruno Fernandes came on in the second half and his half-volley lit up a drab restart. Argentine winger Alejandro Garnacho, on the trip despite looking like he is headed for the exit at United, made a lively cameo off the bench. All-Stars Maung Maung Lwin (left) celebrates after scoring the only goal of the match. PHOTO: AFP United were better in the second half but the South-east Asian side stunned the visitors in the 71st minute when Burmese attacker Maung Maung Lwin found himself clean through on goal before firing into the top corner past Tom Heaton. Soon after Heaton came to United's rescue to prevent further embarrassment. United play the Hong Kong team on May 30. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
2 days ago
- Business
- Business Times
mm2 Asia to sell 21.02% of its stake in subsidiary Vividthree to PE fund for S$1.7 million
[SINGAPORE] Mainboard-listed media company mm2 Asia on Wednesday (May 28) entered into a sale and purchase agreement with private equity fund Hildrics Asia Growth Fund VCC to dispose of 21.02 per cent of its stake in subsidiary Vividthree Holdings for S$1.7 million. mm2 Asia currently holds about 29.9 per cent of the total issued and paid-up share capital of Vividthree. Following the proposed disposal, the company will hold about 8.9 per cent of Vividthree's total issued and paid-up share capital, and Vividthree will cease to be an associated company of the group. Vividthree was established in 2006 and is listed on the Catalist board of the Singapore Exchange (SGX). It is principally involved in the business of digital content production specialising in virtual reality, visual effects and computer-generated imagery. The buyer Hildrics Asia Growth Fund VCC is a private equity fund that provides growth capital to mid-tier South-east Asian enterprises with established track records and growth potential. It is managed by Hildrics Capital, a Singapore-based fund management company specialising in originating proprietary deals across all industries in Singapore and South-east Asia. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The firm focuses on long-term capital appreciation through equity and equity-related investments and has a long-term interest aligned with the management of its portfolio companies, said mm2 Asia in a bourse filing. mm2 Asia noted that the proposed disposal 'is in the best interests' of the group, as it gives the company an opportunity to realise the value of the sale shares, enhance the group's liquidity and improve its overall financial position and flexibility. The proceeds from the proposed disposal will be used to repay the group's outstanding liabilities. Based on the latest announced unaudited consolidated financial statements of mm2 Asia for the financial period ended Sep 30, 2024, the book value of the sale shares is an estimated S$2,048,641. Meanwhile, the net tangible asset value of the sale shares, excluding non-controlling interests, is an estimated S$1,890,856. The net loss attributable to the sale shares is about S$176,812. mm2 Asia said it did not conduct an independent valuation on the sale shares. Based on the volume-weighted average price of Vividthree's S$0.0197 per share for trades transacted on the Catalist of the SGX on May 28, which was the last full market day preceding the date of the sales and purchase agreement, the open market value of the sale shares is approximately S$1,921,798.55. The consideration for the proposed disposal is S$0.01734 per sale share, which amounts to an estimated S$1.7 million. Hildrics Asia Growth Fund VCC will pay this in cash. Based on the book value of the sale shares, there is a deficit of approximately S$357,068.06 of the consideration, mm2 Asia noted. Based on mm2 Asia's financial statements for the period ended Sep 30, the loss on disposal of the sale shares amounts to approximately S$2,824,403. The proposed disposal is expected to be completed on May 30, 2025, upon fulfilment of all conditions. Assuming the proposed disposal was completed on Mar 31, 2024, the group's net tangible assets per share would be 0.016 cent, compared with 0.017 cent before the disposal. Meanwhile, assuming the proposal disposal was completed on Apr 1, 2024, its loss per share would be 0.003 cent, against a loss of 0.002 cent before the disposal. Shares of mm2 Asia last closed at S$0.009 on Tuesday.
