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DOING business in many southeast Asian countries is becoming increasingly challenging, with major companies being exposed to increasingly sophisticated financial crime and widespread corruption. Poorna Rodrigo reports.

COMMERCIAL crime in southeast Asia is fuelled by the fact that it contains wealthy and medium-income well-regulated jurisdictions, alongside weakly-regulated, corruption-heavy poorer countries.…

THE INTENSIFYING trade war between the USA and China has proved to be an opportunity for some larger Chinese clothing manufacturing firms, some of which had already built capacity overseas, notably in southeast Asia, and Vietnam especially. These companies have been able to adjust to the worsening tariff barriers to the US market for China-sourced exports, whereas smaller companies unable to afford new SE Asia operations have suffered.…

THE NONWOVENS industry in the Middle East and North Africa (MENA) is still struggling with over-capacity, while declining purchasing power has hit the mid- and higher-tier segments, prompting global players to reconsider product offerings.

MENA economies have been impacted by low oil prices and regional instability, with growth forecast at 1.5% this year, down from 1.7% in 2018, according to investment bank JP Morgan.…

Cambodia garment industry associations are accusing factory owners of dismissing experienced workers without paying due compensation, claiming this is a breach of newly introduced legally mandated seniority payments, supposed to be paid from this month. (June)

Cambodia’s Collective Union of Movement of Workers (CUMW) president Pav Sina told just-style that that an unnamed “factory located in Damnakthom village, in the capital Phnom Penh has dismissed workers controversially without paying them compensation”, claiming the supplier wanted to evade additional costs from the new payments.…

ANTI-fraud experts understand that managers always need to be aware of the potential for their organisations to lose money to fraud and corruption. But the fact that the Association of Certified Fraud Examiners (ACFE) https://s3-us-west-2.amazonaws.com/acfepublic/2018-report-to-the-nations.pdf

estimates an average 5% of public and private revenues are lost to fraud indicates that more awareness is needed.…

ANTI-fraud experts understand that managers always need to be aware of the potential for their organisations to lose money to fraud and corruption. But the fact that the Association of Certified Fraud Examiners (ACFE) https://s3-us-west-2.amazonaws.com/acfepublic/2018-report-to-the-nations.pdf

estimates an average 5% of public and private revenues are lost to fraud indicates that more awareness is needed.…

This July is the 30th anniversary of the Financial Action Task Force (FATF), which developed its 40 recommendations on anti-money laundering (AML) and nine special recommendations on combating the financing of terrorism (CFT) – but the jury is still out on whether the AML/CFT system it has created is really working.…

THE LONG lines of customer to the cash register in Inditex stores – the giant Spanish company behind High Street fashion brands Zara, Bershka and Pull&Bear (among others) – are also now buying personal care products as well as clothes. They funnel customers through shelves that are not only bursting with low-cost impulse buys, such as hair accessories, smart phone covers and key rings, but now also Inditex scents.…

THE INTERNATIONAL clothing industry needs to take a holistic and assertive approach to fighting intellectual property theft and counterfeiting, which while can be easier to detect today, because of advances in data analysis, still poses a significant threat, an expert USA seminar was told.…

EAST Asia’s two personal care product industry giants – Japan and South Korea – have long been competing for major slices of the regional and global beauty market. At present, however, Japan’s industry seems to be performing more solidly than its rival, which is struggling with the fall-out of diplomatic problems with Asia’s largest market – China.…