Malaysia looks to 20% MRO market share in Asia-Pacific

The revenue target represents about 20% of the projected growth in the Asia Pacific MRO market, which is forecasted to top 60 billion USD by 2030.

Thursday, May 14, 2026 10:28

Kuala Lumpur (VNA) - Malaysian Deputy Minister of Investment, Trade and Industry Sim Tze Tzin said on May 13 that maintenance, repair and overhaul (MRO) industry is on track to achieve its billion MR (14 billion USD) revenue target by end-2030.

The revenue target represents about 20% of the projected growth in the Asia Pacific MRO market, which is forecasted to top 60 billion USD by 2030.

Sim said Malaysia's total aerospace sector generated 32.5 billion RM in revenue in 2025 supported by over 250 companies and a workforce of 34,700 skilled Malaysians.

According to him, the aerospace industry has evolved into a major economic growth sector under the National Industrial Master Plan 2030 and the Malaysia Aerospace Industry Blueprint 2030.

The Government is now shifting its focus towards higher-value aerospace activities, including component MRO, engineering competencies and aerospace parts manufacturing as regional competition intensifies, he added./.

VNA

#Malaysia Aerospace Industry Blueprint 2030 #aerospace sector Malaysia

See more

Thailand enters 2026 rainy season

15/05/2026 16:31

According to forecasts by the Thai Meteorological Department (TMD), Thailand entered the rainy season, after key meteorological conditions met the criteria for the start of the season.

Agriculture Minister Andi Amran Sulaiman (second from the right) checked the Bulog's rental warehouse in the Romokalisari Warehouse Complex, Surabaya, East Java on May 13, 2026. (Photo: Antara)

Indonesia records highest-ever rice reserves

15/05/2026 03:10

The figure marks the highest level of rice stocks in Indonesia’s history as the country steps up policies aimed at boosting agricultural output and strengthening national food security.

Philippines warns of power cuts as heat strains grids

14/05/2026 20:26

The National Grid Corporation of the Philippines (NGCP) issued a red alert, warning of potential outages of up to seven hours in 32 areas across the Visayas grid, and hour-long outages in nine areas across Luzon, including the capital Manila.

Philippines boosts rice imports amid El Niño risks and rising inflation (Photo: mb.com.ph)

Philippines ramps up rice imports amid El Niño concerns, inflation pressure

14/05/2026 19:41

Vietnam remained the Philippines’ largest rice supplier, exporting 1.46 million tonnes in the first four months of this year and accounting for more than 86% of the country’s total rice imports. The Philippines also imported rice from traditional suppliers such as Thailand, Myanmar and Cambodia.

Myanmar steps up efforts to prevent cybercrime

14/05/2026 18:37

A Myanmar bill proposes the death penalty as the highest punishment for individuals who illegally abduct, abuse, torture or detain others to coerce them into committing online fraud. It also proposes a maximum sentence of life imprisonment for individuals directly operating scam centres or engaging in fraud involving digital currencies.

Vietnam win 3–2 over the UAE in the final Group C match of the AFC U17 Asian Cup 2026 in Saudi Arabia on early May 14 (Vietnam time). (Photo: Vietnam Football Federation)

Thai media hail Vietnam U17s after dramatic comeback victory

14/05/2026 16:01

The Thai Youth Football fanpage published an article praising the Vietnamese “golden star warriors” for displaying extraordinary fighting spirit in overturning the match to defeat the UAE 3–2, thereby topping Group C for the first time and earning a place at the U17 World Cup in Qatar later this year.

Electric vehicles line up at charging ports in a Manila mall. (Photo: philstar.com)

Philippines moves closer to launching EV incentive programme

14/05/2026 14:05

Secretary of Finance Frederick Go said on May 13 the EV Incentive Strategy (EVIS) may be released soon. The EVIS has already been presented to President Marcos, but the Board of Investments (BOI) is still working with other agencies in the Fiscal Incentives Review Board (FIRB) on the details of the programme.

Philippines proposes ASEAN framework to strengthen family welfare protection

14/05/2026 10:55

The Philippines proposed a new cooperation framework aimed at strengthening the protection of family rights and welfare across ASEAN at the online ASEAN Conference and Workshop on Family Development Network on May 13.

Thailand : Government cracks down on nominee practices (Photo: nationthailand)

Thailand intensifies crackdown on nominee business networks

14/05/2026 05:39

Prime Minister Anutin Charnvirakul has instructed relevant agencies to accelerate measures against the use of Thai nominees on behalf of foreign individuals and organisations involved in illegal business activities.

Daesang's products sold in Vietnam (Photo courtesy of the company)

Korean food firm targets 1 trillion KRW in Southeast Asia sales by 2030

14/05/2026 02:20

Combined revenue from Daesang’s Southeast Asian subsidiaries reached about 790 billion KRW in 2025, up 29% compared to 2021.

Japan’s Sojitz eyes Southeast Asia as new source of rare earth supplies

14/05/2026 00:16

Chief Financial Officer Makoto Shibuya said regions connected to southern China, including Laos and Cambodia, were among the areas the company viewed as having strong potential for future development.

Singaporean Prime Minister Lawrence Wong speaks at SGLaw200 Youth Forum on May 13 (Photo: channelnewsasia)

Singaporean PM calls for balance between AI safety, innovation

13/05/2026 22:30

The PM cautioned that deeper integration of AI into sectors such as healthcare and autonomous vehicles could pose greater challenges, including wrong medical diagnoses and fatal self-driving car incidents, raising critical questions over liability for AI-related failures.

Singaporean Deputy Prime Minister Gan Kim Yong speaks at the Singapore Business Federation’s Future Economy Conference on May 13. (Photo: channelnewsasia.com)

Singapore releases new strategy to boost growth, create good jobs

13/05/2026 21:50

The review identified major challenges, including geopolitical tensions, rapid technological advancements, global shift towards low-carbon economy, and demographic pressures. To address these issues, the ESR Committees outlined three core priorities - sharpening Singapore’s value proposition, enhancing agility and adaptability, and building resilience alongside efficiency.

Indonesian Finance Minister Purbaya Yudhi Sadewa fields questions at the seminar in Jakarta on May 12. (Photo: VNA)

Indonesia launches “debottlenecking" channel to boost investment climate

13/05/2026 14:45

Since its launch on December 16, 2025, the "debottlenecking" service has received 142 complaints, of which 83 have been openly discussed and 45 claimed to be resolved.

Indonesia, Russia discuss nuclear power cooperation

13/05/2026 10:38

The two sides discussed promising areas of Russian – Indonesian cooperation in the peaceful uses of nuclear energy, including the development of nuclear power projects, nuclear infrastructure, personnel training, and non-energy applications of nuclear technology.

Thai police announce biggest ivory seizure in a decade (Photo: nationthailand)

Thailand busts largest ivory smuggling ring in a decade

13/05/2026 03:49

According to the wildlife crime suppression force, coordinated raids and seizures were carried out across seven provinces on May 7. Authorities confiscated ivory products worth an estimated 300,000 USD, including cut ivory pieces, ornaments and knife handles.