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Redefining the Regional Future Cyber Security Climate of change 50 fascinating things about Asean MCI(P) 056/08/2018 October - November 2018 INDEPENDENT • INSIDER • INSIGHTS ON ASIA Asean’s new tech tigers Redefining the regional future Growth opportunities in Asean beckon millennials to create mini-empires powered by technology, creating new services and jobs. Regional integration helps but more needs to be done. WE BRING YOU SINGAPORE AND THE WORLD UP TO DATE IN THE KNOW News | Live blog | Mobile pushes Web specials | Newsletters | Microsites WhatsApp | SMS Special Features IN THE LOOP ON THE WATCH Facebook | Twitter | Instagram Videos | FB live | Live streams To subscribe to the free newsletters, go to str.sg/newsletters All newsletters connect you to stories on our straitstimes.com website. Data Digest Asean digital integration The digital revolution is still in early days in Asean. However, Getting there will mean broadband coverage needs to the region has much to gain by laying the foundation for the improve in rural areas, advanced digital tools need to become digital economy to power and accelerate intraregional trade and more affordable for SMEs and member states will need to growth, which will enable Asean businesses to compete at home accelerate and coordinate their initiatives. The results could and overseas. Digital integration could deliver a US$1 trillion rise be dramatic: Asean businesses would have the opportunity to (S$1.38 trillion) in GDP in Asean by 2025. leapfrog those in other major economies. Asean’s digital economy is only 7% of its GDP US 35% China 16% ASEAN 7% Asean’s digital integration can bring US$ 1 trillion uplift in GDP by 2025 SMEs can power Asean’s However, SMEs face many digital integration barriers to adopt digital today SMEs’ contribution to Asean’s economy L 99% of enterprise 16% of SMEs use 57% 25% digital to its say logistics and export say lack of payment options full potential processes inhibit is the key hurdle for online cross-border trade cross-border sales 83% of employment 75% 50% of SMEs see digital 40% 40% of GDP integration as an say they do not say it is challenging to opportunity have the necessary navigate digital regulations digital skills and start a business This data is adapted from Bain & Company's September 2018 report titled Advancing Towards Asean Digital Integration. Read our cover story on technology-led startups making headway in Asean, on page 4. 1 Warren Fernandez Editor-in-Chief, The Straits Times & SPH’s English, Malay and Tamil Media (EMTM) Group Sumiko Tan Executive Editor, The Straits Times Dominic Nathan 28 Managing Editor, EMTM Special Report Tan Ooi Boon A Reef in Peril Senior Vice-President (Business Development), EMTM Paul Jacob Associate Editor, The Straits Times Eugene Leow Head, Digital Strategy, EMTM Irene Ngoo Vice-President (Editorial Projects Unit) EMTM Jeremy Au Yong Foreign Editor Shefali Rekhi Asia News Network Editor, The Straits Times & Editor, ST Asia Report DESIGN Peter Williams Head, Visual, EMTM & Art Editor, The Straits Times Chng Choon Hiong Cover photo illustration Marlone Rubio Executive Artist Anil Kumar Graphic Artist COPY DESK Ronald Kow Sub-editor, The Straits Times Cover Story Thinking Aloud CIRCULATION Eric Ng Asean tech tigers seek new Helping Asean stay relevant for Head, Circulation Marketing 4 conquests 14 its 630m people Tommy Ong Senior Manager (Circulation) Working for an “innovative and resilient” Asean REACH OUT TO US: For advertising enquiries: By Invitation Singapore reshapes tie-ups with Sharon Lim Ling The promise of integrating Senior Manager newer Asean members infrastructures (Business Development) 16 [email protected] Circulation & subscription: Delia Gan Executive [email protected] WE WELCOME YOUR FEEDBACK AND VIEWS Letters can be sent to [email protected] Published by The Straits Times, Singapore Press Holdings (SPH) Printed by Times Printers Private Limited All rights reserved. No part of this publication may be Bridestory CEO Kevin Mintaraga (right) reproduced in whole or with his wife Nastassya Saputra in part without written permission from the publisher. 2 42 contents Special Feature 50 fascinating things about Asean countries Trade Watch Travel Aiming to create the world’s World’s longest non-stop flight 18 biggest free trade pact 36 Asia Focus 39 China’s robot revolution Entertainment The fall of Fan Bingbing 51 Defence & Security Big Picture Asean framework on cyber Going dotty over infinity 22 security in the works 52 Securing Asean’s digital future CSA’s game plan to boost cyber Chinese actress security Fan Bingbing 3 Cover Story Asean’s tech tigers seek new conquests Millennials are creating tech-led startups as regional economies grow and integration deepens. Still there’s much to be done. DUSTIN ONGHANSENG, 35, AND BRIAN LIN, 32, SHEFALI REKHI met at the Hong Kong University of Science and Technology and realised that they shared a problem: Asia News allergies and asthma attacks in their dorm rooms Network Editor and school buildings were preventing them from pursuing their passion for technology, health and the environment. The two skipped classes (though they eventually completed their course) and decided to focus on mitigating their problem that they saw afflicting several others. uHoo was born in 2014 in Singapore. [email protected] Their venture is dedicated to providing people with technology to understand the air they breathe and empower them with knowledge to create a healthier home and workplace. They came up with devices that use sensors to track particulate matter and chemicals in the air and send that information to the uHoo mobile app. ST ILLUSTRATION: MIEL Once the air quality hits unhealthy levels, the app sends out alerts and tips on how to improve the air 4 ASIA REPORT October - November 2018 Turning problems Technology into opportunities. adoption in Asean is Chasing their relatively market insights lower which and persevering. means both That’s the mantra opportunity and challenges. of hundreds If more of technology investments in enthusiasts people could be who are turning made, it would entrepreneurs. help and people could lead healthier lives. Dustin they breathe at home or in the office. Onghanseng, 35, The company raised a seven-figure sum in CEO and Co- September to take their venture further. founder, uHoo In 2012, Kevin Mintaraga, who is 33 now, and Asthma and allergy his fiance were shopping for their big day when he problems encouraged realised just how difficult a task it could be. him to team up with Though he was doing well in internet marketing his classmate Brian at the time, it did not stop him from setting up Lin, 32 to launch Bridestory two years later to connect couples uHoo, a venture that planning to get married with wedding vendors sells devices to track across the region. particulate matter The venture now has 20,000 vendors on its and chemicals in the platform, gets 700,000 visits every month and air, in homes and work Mintaraga has offices in Indonesia, Singapore and spaces. the Philippines. And he has branched out to launch Parentstory, which connects parents to places offering activities for children in their cities. Turning problems into opportunities. Chasing their market insights and persevering. That’s the mantra of hundreds of technology enthusiasts who 5 Size of South-east Asias E-Commerce Market US$ billions 100 88 80 67 60 51 38 40 29 22 20 13 17 6 7 10 0 2015E ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 ‘22 ‘23 ‘24 ‘25 Sources: GOOGLE, TEMASEK HOLDINGS, 2016 STRAITS TIMES GRAPHICS are turning entrepreneurs to resolve issues that they see improving and impacting the lives of thousands of other people, beyond borders. Many of them are millennials, who leave the security of jobs in the corporate world to step out and join thousands of their Gen X seniors who have already made their mark and paved the way to create enabling environments for millennials to thrive. Growth, optimism about the future of regional economies and efforts to integrate the 10 Asean countries are feeding into the buzz about starting start-ups in the region. “Asean is forecast to become the fourth-largest economy in the world by 2030, after the US, China and the EU,” Prime Minister Lee Hsien Loong said in his opening address to the 50th Asean Economic Ministers’ meeting in Singapore in August (see next story). “Sixty per cent of our population is under 35 years old – a growing, educated and young workforce, and an emerging middle class. And Asean is projected to continue to grow,” he noted. “GDP growth has averaged 5.4 per cent in recent This region has big opportunity. years, well above the global norm. It is projected to But its diversity is a challenge. grow around this rate for the next five years. Four of The needs of both customers and the fastest-growing economies in the world belong vendors differ from country to to Asean. So Asean’s potential is clear,” he added. Those who realise this and have launched their country. But destination weddings own ventures in South-east Asia are confident that is on the rise. so there is much they have made the right choice. potential. One of them is Francesca Chia, 30, co-founder of GoGet Malaysia, which helps individuals and companies run errands and promises shorter delivery times. Her business is powered by an on- Kevin Mintaraga, 33, demand workforce. CEO, Bridestory & Parentstory There are several benefits, she said at the Problems with finding wedding vendors for World Economic Forum on Asean held in Hanoi his own marriage encouraged him to set up in September. Bridestory, an app linking wedding suppliers to Small businesses get to reduce costs, individuals potential customers in 2014.
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