The ASEAN is a regional organization of Southeast Asian countries. The word ASEAN stands for the Association of Southeast Asian Nations. This successful organization was established on August 8, 1967 in Bangkok, Thailand. It is considered as a geopolitical and economic organization in the Southeast part of Asia. It has started its activities with five members and those are Indonesia, Singapore, Malaysia, Philippines and Thailand. Very few years later Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam also joined in this organization.
On August 8, 1967- at the main hall of Bangkok’s Foreign Affairs building, the Foreign Ministers of Malaysia, Singapore, Thailand, Philippines and Indonesia – are seated together and signed in a document named Bangkok Declaration or ASEAN Declaration. The Association of Southeast Asian Nations (ASEAN) was born, by the virtue of that declaration. The Five Foreign Ministers who signed into that document are being hailed as the founders of this great successful intergovernmental organization of the developing world.
The reason behind the setting up of the organization:
ASEAN has been set up to build a mutual understanding among the members of this community. In addition, their aim is to establish a strong economic community. The main reason of setting up this organization can be counted with 7 specific principles.
1) To accelerate the social, cultural and economic progress through mutual endeavors.
2) To work mutually as a United Nations and to encourage regional peace and constancy.
3) To create mutual assistance in social, cultural, economic and technical fields.
4) To provide assistance through research and training facilities to each other in the field of educational, technical and administrative spheres.
5) To co-operate effectively to make great use of the agriculture and industries through expanding trade and transportation among the countries.
6) To assist in the Southeast Asian studies.
7) To maintain unique aims and purpose in the different existing international organization, and to explore closer cooperation among the countries.
The main objectives of the organization:
The main objectives of this organization are to speed up the economic growth, social progress and cultural growth in the region through joint efforts in the spirit of equality and partnership. ASEAN wants to strengthen the foundation as prosperous as well as a peaceful community of Southeast Asia. The organization works through providing assistance to each other in improving the education and human development among the countries. Another important reason is promoting regional peace and stability. ASEAN works to promote all of their members like a unique community that works together for the betterment of their social, economical and cultural progress. Moreover, the organization tries to manage mutual funding for the development in all sectors of a country.
Bangalore, June 21, 2011 Raffles Equity announces the appointment of three new research and credit analysts to cover the ASEAN Corporate Bond sector as an adjunct to the Equities Department. The new analyst team members will be based in Bangalore, India and will join Raffles in the summer. These new team members join Raffles highly ranked Equity Research Team of Dr. James W. Arnold, CFA, and Director, who leads our corporate equities and stock coverage. Dr. Arnold, Head of Equity Research, said: -Raffles Equity Research, Inc. has an outstanding reputation in providing thoughtful analysis on this ASEAN Stock Companies sector. The quality of our research has been recognized by our consistent high rankings in various industry surveys. We are therefore delighted to be welcoming these new members to our team – all of whom enjoy a great reputation within the corporate credit and corporate bond industry. Their expertise will extend our coverage of ASEAN stock companies beyond just the equity side to now recommending excellent portfolio positions on the debt side of the equation. We see an immediate need to extend our knowledge and coverage of the equity side to credit and debt evaluations for our customers in assisting them in managing Balanced Portfolios of both corporate stocks and corporate bonds. These additions to our team provide further depth in research and we look forward to sharing our combined expertise for the benefit of our institutional clients.- Carla de Marcos will be joining Raffles Equity as a Section Director. She will be working alongside Jonathan Portagio, Assistant Section Director and will share coverage of the ASEAN banks and large conglomerates sector. Both Carla and Jonathan have a combined 23 years experience in the Banking and Industrial sectors, having previously covered Asian, South American and Eastern European Corporate Debt for several prominent Wall Street and European investment banking firms. Philippe Tonier will join Raffles as a Vice President from J. Arthur Donnelly Company. He will join Carla and Jonathan and will be focusing on the highest credit worthy corporates listed on the ASEAN Bourses. Philippe has ten years experience in Credit Financials and Corporate Bond Ratings both on the buy and sell-side. -These coverage additions in Corporate Bonds signals Raffles strong view of the emerging importance of ASEAN Corporate Bonds as investment mediums in an expanding universe of portfolio selection criteria for both income as well as balance funds. It highlights our immediate desire to leverage the information we have gained analyzing the financial prospects of ASEAN Corporations -, emphasized Dr. Arnold.