Lion Air, the carrier behind Indonesia’s second-worst aviation disaster, starts work on a US$1 billion initial public offer

Lion Air has started preparations for a domestic initial public offering, people with knowledge of the matter said, as Indonesia’s biggest private carrier seeks to move past an October crash that triggered the crisis surrounding Boeing’s 737 MAX plane.The company is working with advisers on the planned share sale, which could take place as soon as this year, the people said.Lion Air has been discussing a fundraising target of around US$1 billion, though it hasn’t set precise terms for the deal,…

Sri Lanka to get US$3.9 billion oil refinery next to Chinese-run port in Colombo

A Singapore-based company and the government of Oman have pledged to build a US$3.9 billion oil refinery next to a Chinese-controlled port in what will be the largest foreign investment ever for Sri Lanka, officials said on Tuesday.The refinery will be a joint venture for the Singapore-based Silver Park International Private Limited firm and the Sultanate of Oman’s Ministry of Oil and Gas, said Nalin Bandara, Sri Lanka’s deputy minister of international trade. Construction will begin next week…

Coco Martin is one of the Philippines’ biggest stars – because he’s an everyman

Coco Martin is a Filipino everyman. In person, he’s shorter than you’d expect. Disarming; he’s also trim, handsome (but not too handsome) with an empathetic smile and warm eyes. When you meet him, he’s immediately familiar. He could be the mechanic from down the road, the kindly hospital orderly or the overseas foreign worker. Nondescript. Ordinary, but trustworthy.Meanwhile, the Philippines is three years into President Rodrigo Duterte’s term in office and is fast approaching the all-important…

From Kyoto to Kansas City, it’s Indonesian tuna on the world’s sushi counters

Workers at the East Java processing plant of Indonesian seafood supplier Bahari Biru Nusantara race every day to gut, fillet and freeze prized wild-caught fish for the world market.Company director Hadi Wijaja says they can process 35 tonnes of fish a day, or 5,000 tonnes a year, inside the spacious facilities whose sanitary practices are registered internationally – including in the US, the EU, and Korea, where fish must reach while still fresh enough to be consumed raw.Indonesia is the world…

Hong Kong’s Fung Group restores historic Hamada soy sauce factory in Japan, aims to grow condiments venture into business worth up to US$1 billion

Nearly three years after a severe earthquake wreaked havoc across Japan’s Kumamoto prefecture, on Kyushu island, the 200-year-old Hamada soy sauce factory has finally been restored.Unveiling the repaired building on Monday was Hamada’s majority owner Victor Fung Kwok-king, the Hong Kong supply chain veteran and group chairman of the privately owned Fung Group, who is eyeing a slice of the multibillion-dollar condiments market.Why is Japan so obsessed with being on time?Through his Heritage…

New Zealand shooting: Gun reforms to come in 10 days, says Prime Minister Jacinda Ardern

New Zealand Prime Minister Jacinda Ardern said on Monday her cabinet had made in principle decisions around the reform of gun laws following the mass shooting in Christchurch.“I intend to give further details of these decisions to the media and the public before cabinet meets again next Monday,” she said at a press conference.“This ultimately means that within 10 days of this horrific act of terrorism we will have announced reforms which will, I believe, make our community safer.”Ardern also…

Indonesia’s gambling with a tax on e-commerce. Will it pay off?

Indonesia’s small- and medium-sized enterprises (SME) and e-commerce platforms are up in arms over a plan to levy taxes on online businesses, as authorities in Southeast Asia’s biggest economy grapple with tax collection from its burgeoning digital sector.The Indonesian tax authority is set to introduce the e-commerce tax scheme next month, getting the ball rolling by tabulating taxpayer identification numbers from SMEs that sell products and services on online marketplaces. The task of logging…