Asia Roundup
Vietnam Bank to Sell Mogulās Property, Car to Offset Fraud Loss
The Vietnamese bank at the center of the fraud case involving disgraced tycoon Truong My Lan is preparing to auction a portfolio of her assets, including real estate, clothing and handbags, as part of an ongoing effort to claw back billions of dollars, Bloomberg reported.
Saigon Commercial Bank is seeking to appoint a bidding advisory firm to arrange for the sale of assets tied to Lan, according to a statement on the bankās website. Itās operating under the guidance of the State Bank of Vietnam after being appointed by the courts to handle the disposal of her assets.
BOC Aviation Signs $2 Billion Club Loan
DBS acted as Global Coordinator and Documentation Agent for BOC Aviationās self-arranged club loan transaction totalling USD 2 billion with 19 banks globally, according to the Singapore bankās LinkedIn post.
The transaction comprises five-year unsecured term loan facilities of USD 1 billion, five-year unsecured committed revolving credit facilities of USD 500 million, and seven-year unsecured term loan facilities of USD 500 million.
Indiaās ReNew Energy to Secure $800 Million Refinancing Loan
Renew Energy Global is set to secure an about USD 800 million foreign currency loan, in what would be Indiaās largest offshore financing so far this year, Bloomberg reported.
Standard Chartered Bank and Societe Generale are underwriting the loan, the proceeds of which will be used to refinance debt tied to an operational hybrid power project. The five-year facility will be priced at about 185 basis points over the benchmark Secured Overnight Financing Rate.
Indonesia Roundup
Indonesia Tightens Rules on Dollar-Buying to Stem Outflows
Indonesiaās central bank tightened foreign exchange regulations as policymakers in Southeast Asiaās biggest economy try to soften the impact of the Middle East war on inflation and the rupiah, Bloomberg reported.
Cash purchases of foreign currency without supporting documents will be limited to USD 50,000 per buyer per month, down from USD 100,000, the central bank said in a statement. Thresholds for forwards and swaps were increased.
Indonesia Weighs Pay Cuts for Ministers
Finance Minister Purbaya Yudhi Sadewa signalled openness to austerity measures, saying he would not object if ministersā salaries were cut as the government weighs fiscal tightening amid escalating global uncertainty, Jakarta Globe reported.
Speaking on the sidelines of a visit to Beringharjo Market in Yogyakarta, Purbaya downplayed concerns over potential pay cuts for cabinet members. āItās fine if ministersā salaries are reduced; they are already quite high,ā he said.
Garuda Indonesia Loss Widens as Scheduled Airline Sales Slip
Flag carrier Garuda Indonesia posted a wider net loss last year as revenue from scheduled airline services weakened and costs in some areas rose, Bloomberg reported.
The drop in scheduled airline revenue came as funding constraints left nearly 40% of its fleet grounded for maintenance, limiting flight operations. Maintenance and repair costs jumped 23% and the company recorded a foreign exchange loss.
The support from Indonesian sovereign fund Danantara helped the company to post positive shareholder equity in 2025 for the first time in six years.