BANGKOK (AP) — Thailand’s self-exiled former prime minister said Tuesday he wants to return home by July, making his declaration less than a week before the country heads to polls in which his daughter is a frontrunner.
Central Bank of Laos Puts Mechanisms in Place to Control Inflation
The Bank of the Lao PDR has implemented various measures to manage high rates of inflation in the country, including increasing interest rates and issuing saving bonds, according to Mr. Soulysak Thamnuvong, Head of the Department of Monetary Policy at the Central Bank.
Laos Records Trade Deficit of USD 17 Million in April
The country’s trade deficit for April clocked in at USD 17 million, which was the lowest figure since January.
Rights Group Accuses Myanmar of Using Fuel-Air Explosive

BANGKOK (AP) — Myanmar’s military used an “enhanced blast” munition known as a fuel-air explosive in an airstrike that killed more than 160 people, including many children, at a ceremony held last month by opponents of army rule, a human rights monitoring group charged in a report Tuesday.
Construction Begins in Laos on Largest Wind Power Plant in South East Asia
Construction work has begun on a major wind power plant project in Laos following the signing of a loan agreement of close to USD 700 million.
Phillip Bank Forms Strategic Partnership with Cambodian Developer Sarita Waterside to Boost Foreign Real Estate Investments

Ly Senleap, Director, Sarita Resort Co., Ltd, Cambodia
Ong Teong Hoon, Chairman, Phillip Trustee (Cambodia) Co. Ltd
Andy Goh, Director, Founder and CEO, r+ Pte Ltd, Singapore
Dave Loo, Managing Director, SQFT Global Pte. Ltd. Singapore
Maverick Maung, Head of Sales, Sarita Resort Pte. Ltd. Singapore
Sarita Waterside, the first project of the Kampot Park Eco Estate masterplan, is a joint venture between Sarita Resort Pte. Ltd. and Kampot Mountain Park Development Co., Ltd. The development features 3 types of villas, namely Soodra Villas, Maha Villas, and Visha Villas, all are detached houses which offer private pools, floating pontoons amidst spacious gardens, and an indoor-outdoor lifestyle of barefoot luxury. The development also features clubhouse facilities and a spa.
Under the partnership, Philip Bank will provide a buy-back guarantee to buyers of units at Sarita Waterside. For the first phase of the project, the developer Sarita Waterside offers a unique Buy Back Option to investors. Upon physical completion of the villas (estimated to be around June 2024), investors will have the options of keeping the villas for rental investment, hold the property for their own use or exit the investment by selling the property back to the developer.
The developer offers the investors a Buy Back Price at 110% of the original sale price of the villas. To give further assurance to purchasers, this buy back option offered by Sarita Waterside will be supported by a letter of guarantee from Phillip Bank Cambodia.
Foreign buyers may now purchase and own these properties under a trust structure. Phillip Trustee Cambodia, a trust company fully owned by Phillip Bank, will be able to assist foreign investors to establish a trust to own such houses in a legitimate way, fully compliant with Cambodian law.
“With our partnership with Sarita Waterside, we expect to attract more foreign real estate investments to Cambodia. By combining our expertise and the strengths of Sarita Resort, we aim to create a positive impact with investors while promoting sustainable development in Cambodia,” said Ong Teong Hoon, Chairman of Philip Trustee.
Sarita Waterside adopts a holistic ecosystem comprising hospitality, agriculture, food processing, and retail. The development aims to level up the living standards of the local community by employing local personnel, providing hospitality training, imparting knowledge of agro-tech farming techniques, distributing high-yield seeds, merging agro-tech farming with local knowledge to boost harvests sustainably. The development is managed by r+, a Singapore-based company that promotes responsible living, uniting real estate, hospitality, agriculture, retail and fintech.
Hashtag: #PhillipTrustee #PhillipBank
The issuer is solely responsible for the content of this announcement.
About Phillip Trustee
Phillip Trustee (Cambodia) Co., Ltd is a newly established company that is part of the Phillip Capital Group based in Singapore and an associated company of Phillip Bank. The company currently provides trust services such as holding trust property, performing certain investment transactions if requested by clients, and acting as an intermediary for escrow trust for real estate transactions. Phillip Trustee (Cambodia) Co., Ltd is dedicated to being an active catalyst in bringing foreign investments into Cambodia by holding foreign investors’ tangible assets and enabling them to grow their businesses.
Tishman Speyer and Raffles Family Office Announce Blue Chip Collaboration to Launch APAC Real Estate Fund
The Fund targets value add and opportunistic investments within key real estate themes such as brown-to-green, living sector, logistics, and special situations, including credit strategies and distressed opportunities. This synergistic collaboration between a leading global real estate investor and a leading Asian MFO will grant private wealth investors unparalleled access into tailored, institutional grade real estate investments.
“This marks a milestone in Tishman Speyer’s expansion into Asia Pacific gateway cities, and the start of a significant partnership with Raffles Family Office and their investors,” said Rob Speyer, Chief Executive Officer at Tishman Speyer. “Together, Tishman Speyer and RFO will create a compelling portfolio that supports the growth of new economy sectors throughout APAC.”
Chi-man Kwan, Group CEO and Co-founder of Raffles Family Office, said, “We are excited to partner with Tishman Speyer, one of the world’s most recognized and esteemed international developers. As both intergenerational wealth transfers and new wealth emerge, family offices continue to gain traction as preferred wealth management vehicles due to the enhanced control and flexibility they provide. This collaboration seeks to capitalize on the unique advantages of family offices and aims to address the increasingly complex asset management needs of APAC UHNWs. It is part of our ongoing commitment to support their growing demand for geographical and asset class diversification.”
Joe Kwan, Managing Partner, Real Estate of Raffles Family Office, added, “We look forward to embarking on this journey with Tishman Speyer for an inaugural APAC Real Estate fund. This partnership is the first of its kind, and it arrives at an ideal time to emphasize our conviction of the longer-term secular tailwinds across the Asia Pacific region. This combined with class leading investment, governance and asset management capabilities, offer a unique set of real estate investment opportunities for UHNW investors. The ability to invest through a down cycle will offer strong return proposition for our clients and may well prove to be an exceptional vintage for the fund.”
Hashtag: #TishmanSpeyer #RafflesFamilyOffices
The issuer is solely responsible for the content of this announcement.
About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 33 key markets across the United States, Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO, and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 531 properties, totalling 221 million square feet, with a combined value of approximately $130 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco. For additional information, visit https://www.tishmanspeyer.com
About Raffles Family Office
Raffles Family Office (RFO) is an award-winning multi-family office that offers a full suite of wealth management services for ultra-high net worth individuals. With an integrated platform that combines independence with advisory expertise across a broad range of asset classes and an expansive global partnership network built for seamless collaboration with the world’s leading financial institutions, the firm is uniquely placed to provide comprehensive, lasting and highly bespoke wealth growth and preservation solutions. RFO is headquartered in Hong Kong and has branch offices in multiple Asian financial centres, including Singapore, Shanghai, Beijing and Taipei. For additional information, visit http://www.rafflesgroup.co