The pandemic has caused Vietnamese workers to flee the city of Ho Chi Minh. About 1.3 million people left for their hometown in the third quarter due to the pandemic, according to an official report released by General Statistics Office of Vietnam.
Established in Bangkok in 1988, Fine Metal Technologies was formerly known as Furukawa Metal (Thailand) and went public in Thailand in 1996. Fine Metal Technologies produces and sells copper tubes used in refrigerators, freezers, and air conditioners.
UnaBiz, a Singapore-based Internet of Things (IoT) service provider, has raised over US$25 million in its Series B funding round led by SPARX Group. The round was oversubscribed, with participation from CDIB, G K Goh and Thaioil, according to the UnaBiz.
Thailand's gaming industry raked in more than US$1 billion in revenue last year amid COVID-19, according to Thailand Business News citing data from NewZoo, with the number of gamers increasing to 32 million in the country.
Taiwan-based metal chassis maker Catcher Technology is reportedly in talks with Malaysia-based medical equipment suppliers for cooperation, and may choose Malaysia as its regional factory site for healthcare applications.
American clothing brands are seeing delayed production ahead of end-of-the-year shopping season because of reduced production in Vietnam, which logs the biggest quarterly fall in GDP for third-quarter 2021 due to the pandemic.
Samsung Electro-Mechanics (SEMCO) reportedly plans to install a new production line for ABF-based flip chip ball grid array (FCBGA) substrates at its factory site in Vietnam, with investment estimated at about KRW1 trillion (US$837.5 billion) in which a US chip firm will also participate.
Indonesia is poised to become the top electric vehicle (EV) battery supply base among all Southeast Asian countries, thanks to abundant mineral reserves and incoming foreign investment. The Indonesian government has also given solid support to grow the local industry.
Apex International, a Thailand-based PCB maker established by Taiwanese entrepreneurs, has received booming orders for PCBs used in miniLED backlight units (BLU) from Samsung Electronics, according to industry sources.
After being hit hard by the resurgence of COVID this year, Vietnam is gradually resuming manufacturing and social activities. Other countries in the region are expecting higher smartphone sales, while Indonesia is becoming a production base of EV batteries.
Mergers and acquisitions (M&A) in Asian countries (excluding Japan) during the first half of 2021 reached the second highest in history with a 69.6% year-on-year increase in value to US$648 billion, according to UBS citing data from Dealogic.