US-based Synopsys is increasing investments in Vietnam as it becomes cautious on China. Meanwhile the cooling of the semiconductor industry will drag Malaysia’s exports for the rest of the year.
Synopsys shifting investment to Vietnam amid US-China chip war
According to Nikkei Asia, with the US increasingly curbing China’s semiconductor potential, Synopsys is shifting investment and engineer training to Vietnam, which may bring locally-made mature ICs to Vietnam.
Malaysia’s electrical and electronics export growth expected to slow
According to The Star, as global demand for electronics is declining, CGS-CIMG Research economist Nazmi Idrus expects Malaysia’s semiconductor export growth to slow, leading to weaker electrical and electronics exports from Malaysia in the coming quarters.
Vietnam’s iPhone shipments more than double in 2Q22
According to Counterpoint Research, despite an annual decline of 1% of Vietnam’s smartphone shipments to 3.2 million in the second quarter of 2022, iPhone shipments in Vietnam increased by 115% annually, with shipments of smartphones priced more than US$400 growing by 75% year-on-year.
Singapore to step up scrutiny amid crypto platforms bust
Bloomberg, citing sources, reported that the Monetary Authority of Singapore had sent a questionnaire to applicants and holders of digital payments licenses in the country, asking for data including top tokens owned, top lending and borrowing counterparties, and the amount loaned. Singapore’s crypto lender Hodlnaut halted withdrawing, deposits, and token swaps in early August as more and more crypto platforms went bust.
Ant Group to partner with Malaysian Investment Bank on crypto Super App
According to CoinDesk, Ant Group is working with Malaysia’s Kenanga Investment Bank to create Malaysia’s first Super App, which wil provide services including crypto trading, e-wallets, and portfolio management.
Philippine’s number of digital banks increases to six
Micky reported that the Philippine’s central bank has recently granted two financial institutions permissions to operate as digital banks, leading to a total of six digital banks operating in the country.