Asia Roundup
PBOC Details Coordinated Policy Playbook to Steer Credit
China’s central bank has laid out a detailed framework for coordinating with fiscal authorities to channel liquidity into the real economy, Caixin reported.
This signalled a unified push in Beijing’s effort to stabilize growth through synchronized bond support, subsidized lending and shared risk.
Abu Dhabi’s G42 Leads $1 Billion Data Center Project in Vietnam
G42 is leading a project with commitments of as much as USD 1 billion to build data centers and cloud computing services in Vietnam, Bloomberg reported.
G42 is working on the project with FPT Corp., a technology and telecommunications firm, and the Viet Thai Group.
India’s Marico Buys 75% Stake in Vietnamese Cosmetics Firm
Marico South-East Asia Corporation, a subsidiary of India’s Marico Limited, announced that it had acquired a 75% stake in Vietnam’s direct-to-consumer beauty and personal care company Skinetiq JSC, The Investor reported.
KPMG Vietnam acted as the exclusive sell-side financial advisor for the transaction. The deal value was not disclosed, according to The Investor.
Hanuman Wind Power Pulls Bond Debut
Hanuman Wind Power, owned by Thai-based Energy Absolute, postponed its debut USD bond issue, IFR reported.
The deal struggled to price even after a reduced size and the issuer having sweetened terms, such as adding a put option that can be exercised if the company fails to renew a power purchase agreement (PPA) with state-owned off-taker EGAT, according to IFR.
Indonesia Roundup
World’s Biggest Nickel Mine in Indonesia Told to Cut Output
The world’s biggest nickel mine in Indonesia has been told to slash output, as authorities step up efforts to boost global prices of the battery metal, Bloomberg reported.
Weda Bay Nickel has been notified it will receive 12 million tons of ore production quota this year, down from 42 million tons in 2025.
The mine on the island of Halmahera, North Maluku province, is owned by Tsingshan Holding Group, France’s Eramet SA and Indonesia’s Aneka Tambang.
President Prabowo Meets with Indonesia’s Top Tycoons, Asks Them to Help Create Jobs
Indonesian President Prabowo Subianto met with five of the nation’s leading businessmen late on Tuesday (10 February), asking them to work together with the government to create jobs in Southeast Asia’s biggest economy, Reuters reported via Business Times.
The five were Prajogo Pangestu, founder of petrochemical conglomerate Barito Pacific Group, Anthoni Salim of the Salim Group, one of the world’s largest producers of instant noodles, Franky Widjaja of paper and agribusiness giant Sinar Mas, Garibaldi Thohir of miner Alamtri Resources Indonesia and Sugianto Kusuma, founder of property firm Agung Sedayu Group.
Prabowo’s Brother Says President Was Angered by Market Rout
President Prabowo Subianto’s brother, Hashim Djojohadikusumo, said the Indonesian leader was angered by the recent market rout, especially after learning that MSCI had sent four letters that did not receive a response, local media reported.
“For Pak Prabowo, Indonesia’s honour is very important. So he will very tightly monitor,” Kompas quoted Hashim as saying.
The Financial Services Authority (OJK) is investigating the lack of response to the letters sent by MSCI, Bloomberg Technoz reported. In those letters, the index provider had asked questions related to the transparency and integrity of Indonesia’s stock market.