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A roundup of this week's articles/news of Digitalisation Developments in Southeast Asia

In Southeast Asia, smart cities will play an increasingly important role in generating economic growth and solving complex urban challenges. In the spirit of co-creation, Hitachi has actively engaged industry actors with the aim of developing a deeper understanding of the data and business needs of emerging smart cities in the region.“Driving Digitalisation Ecosystems in ASEAN” was a themed online forum recently co-hosted by Mr Van Tang, Director and Head of Business Development & International Partnerships – APAC at Hitachi. This forum involved discussions with industry leaders on data collaboration in the real estate and retail industries. Industry engagement forums like these help with uncovering insights that lead to better planning and enhancement of urban solutions.


A clutch of Philippine firms, including newly launched real estate investment trusts (REITs), could make the country Southeast Asia's biggest IPO market this year, driven by attractive valuations and a recovering economy. Investors and bankers say consumer retailers and REITs are lining up record fundraisings that could top US$4 billion in 2021, more than the combined tally of the last seven years, according to Refinitiv data. "Given the attractiveness of REITs as an investment and the robust real estate market fundamentals in the Philippines, we are expecting to see more REIT IPOs come to the market," said Bank of America's Siah.


BIMB chief operating officer Mohamed Iran Moriff Mohd Shariff said the bank is positive of the meaningful partnership with TM, via TM ONE, as the collaboration between both parties is aimed at further exploring TM ONE's role in becoming the primary digital solutions provider to BIMB for digital infrastructures such as data centre and cloud services, as well as big data analytics and cyber-security solutions. "These solutions will intensify BIMB's information technology (IT) infrastructure and centre for digital experience (CDX) digital banking products, by allowing new buying experience, away from the traditional banking approach,"


A total of $1 billion has been set aside for new digital transformation schemes. The Emerging Technology Programme will co-fund the costs of trials and adoption of frontier technologies like 5G, artificial intelligence and trust technologies. The Government will also extend its enhanced support of up to 80 per cent for existing enterprise schemes to end-March 2022. These include the Scale-up SG programme, Productivity Solutions Grant, Market Readiness Assistance Grant and Enterprise Development Grant. For large local enterprises that are ready to expand overseas on a larger scale, the Government will complement existing grants and loans, and support them through equity investments, tapping market players to ensure commercial discipline.


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