Asia Roundup
Wealth Bankers Rush to Calm Growing Private Credit Fears in Asia
Private bankers across Asia are scrambling to contain client anxiety as redemption pressures ripple through the USD 1.8 trillion private credit market, even in a region seen as more insulated from the recent turmoil, Bloomberg reported.
With investment funds’ gating mechanisms suddenly in focus, private bankers in Hong Kong and Singapore have been fielding urgent calls from their high net-worth clients seeking clarity or asking to redeem positions on the private credit products they hold.
Regulators in Asia are also increasing scrutiny of the asset class, aiming to protect less-savvy individual investors, who tend to be more sensitive than their institutional peers and easily rattled by negative headlines.
Malaysian Manufacturers Call for Six-Month Loan Moratorium to Aid MSMEs
The Federation of Malaysian Manufacturing (FMM) has urged the government to step up support for its members, including a six-month bank loan moratorium for all micro, small and medium enterprises (MSMEs), The Edge Malaysia reported.
FMM president Jacob Lee Chor Kok said the group expects gross domestic product (GDP) growth to moderate to between 3.8% and 4.2% should tensions in the Middle East escalate further. However, if the conflict remains contained, the FMM expects GDP growth to come in at 4.7%.
Lee highlighted that rising production and logistics costs have emerged as key challenges, with the construction sector among the hardest hit.
Adani Enterprises’ Resolution Plan for Jaiprakash Associates Gets NCLT Nod
Adani Enterprises said the National Company Law Tribunal (NCLT) has approved its resolution plan for Jaiprakash Associates, The Economic Times reported.
On 19 November 2025, the Adani Group company received approval from Jaiprakash Associates’ committee of creditors after lenders voted in favour of its resolution offer for the bankrupt infrastructure and industrial group.
Indonesia Roundup
Indonesian Central Bank Holds Rates Steady As Expected
Indonesia’s central bank kept its policy rates unchanged, as expected, amid uncertainty about the impact of war in the Middle East on Southeast Asia’s largest economy, Reuters reported via CNA.
Bank Indonesia held the benchmark 7-day reverse repurchase rate at 4.75%, as had been forecast by 24 of 26 economists polled by Reuters.
The bank also kept steady its overnight deposit and lending facility rates at 3.75% and 5.50%, respectively.
Indonesia Weighs Response to Price Pressures from Middle East War
Price pressures fuelled by the Middle East war may push Indonesia’s government to reconsider its dogged defence of energy subsidies and a costly meals scheme close to the heart of President Prabowo Subianto, AFP reported via CNA, citing analysts.
“We are already in a critical situation,” with fuel and natural gas supplies at about three weeks’ worth – the maximum storage capacity – and a dearth of new suppliers to offset the Middle East blockage, said Yose Rizal Damuri, executive director of Indonesia’s Centre for Strategic and International Studies.
He said the government may have no choice but to cut its fuel subsidy, which covers about 30 to 40% of the cost for consumers and represents around 15% of the budget.
Indonesia’s Upstart Sovereign Fund Stumbles Through Turbulent Year
Prabowo sees Danantara as a pool of money – on top of the state budget – to fund his expansive and costly socialist policies, which he believes could propel Indonesia to reach 8% GDP growth, Bloomberg reported on 17 March 2026. That level was last achieved decades ago during the dictator Suharto’s administration.
During several cabinet meetings last year, Prabowo pointed to Danantara as a source of financing for local projects. In one case, the administration plans to establish more than 60 fishing villages as part of an effort to modernize the sector and improve local livelihoods. When some ministers asked how the project would be financed, Prabowo said Danantara would fund it.
Acrostics Asia wrote on 11 November 2024:
📒 Quick Take: Deciphering Danantara
“The brains behind Danantara seem to be going for a multiplier effect by leveraging up the combined SOE assets. With more favourable financial metrics, such as debt-to-asset or debt-to-equity ratios, Danantara can theoretically borrow more to support the president’s spending plan. Incurring debt at the corporate level may also be a way to get around Indonesia’s budget deficit ceiling of 3% of GDP.”