Morning Minutes: What will make headlines, Sept 7, 2016

The tender results of September’s first open bidding exercise for certificates of entitlement (COEs) are expected on Wednesday (Sept 7).
The tender results of September’s first open bidding exercise for certificates of entitlement (COEs) are expected on Wednesday (Sept 7).PHOTO: ST FILE

Good morning! Morning Minutes is a round-up of stories that will break on Wednesday, Sept 7, and which we think you'd be interested in.

It appears on weekdays, available by 7am.

September's first open bidding exercise for COE

The tender results of September’s first open bidding exercise for certificates of entitlement (COEs) are expected later on Wednesday (Sept 7). The tender opened on Monday (Sept 5).

At the close of the previous tender last month, COE premiums showed marginal movements. The COE premium for cars up to 1,600cc and 130bhp went up by 1.6 per cent to $53,334. But premiums for bigger cars – those above 1,600cc or 130bhp – dipped by 2.4 per cent to $56,500.

Second day of Asean summits


(Left to right)  Malaysian Prime Minister Najib Abdul Razak, Myanmar State Councellor Aung San Suu Kyi, Singapore Prime Minister Lee Hsien Loong, Thailand's Prime Minister General Prayut Chan-o-cha, Vietnamese President Tran Dai Quang, Laos President Bounnhang Vorachith, Laos Prime Minister Thongloun Sisoulith, Philipinnes President Rodrigo Duterte, Brunei's Sultan Hassanal Bolkiah, Cambodia's Prime Minister Hun Sen, Indonesia's President Joko Widodo at the Asean summit on Sept 6, 2016. PHOTO: EPA

A new round of Asean summits enters the second day in Laos on Wednesday (Sept 7), with 10 leaders of the grouping scheduled to meet their counterparts from the East Asia Summit, which includes China, Japan, South Korea, Russia and the United States.

The focus will be on cooperation between Asean and the dialogue partners. China has said that it will commemorate the 25th anniversary of the dialogue relationship with Asean today, pledging to deepen cooperation between the two parties. 

Malaysia bank rates expected to remain unchanged


The headquarters of Bank Negara Malaysia in Kuala Lumpur. PHOTO: AFP

Malaysia’s central bank is expected to keep its benchmark rate unchanged on Wednesday (Sept 7), as the country’s economy is seen to be coping with global market volatility in the wake of Britain’s June Brexit vote.

Less than two weeks after the vote, Bank Negara Malaysia (BNM) made its first rate cut in seven years, slashing the overnight policy rate by 25 basis points to 3.00 per cent.

Economists forecast no change to the rate this time around as exports and domestic consumption remained resilient despite worries about the global economy.

China to release foreign exchange reserves data for August


A stack of Chinese 100 yuan notes. PHOTO: AFP

China will release its foreign exchange reserves data for August on Wednesday (Sept 7), which, analysts say, have likely dipped to US$3.19 trillion (S$4.33 trillion) after falling slightly in July.

China’s reserves have stabilised in the last few months despite downward pressure on the yuan, as analysts say the government has been successful with measures to limit capital outflows.