Asia Roundup
SIA Defends Air India Investment in Response to Sias
Singapore Airlines (SIA) said its investment in Air India gives the national carrier access to growth opportunities that cannot be fully realized through a single hub model, where flights connect only through one airport, The Business Times reported.
SIA, the only non-Indian airline group with a direct stake in India’s aviation market, owns 25.1% of the enlarged Air India following its merger with former associate Vistara in November 2024.
The group was responding to questions from the Securities Investors Association (Singapore) or Sias, ahead of its annual general meeting on 24 July. Sias had asked the airline to elaborate on the role it expects to play in Air India’s turnaround.
Tata Capital Raises $400 Million in Dollar Bond Sale
India’s Tata Capital raised $400 million through the sale of USD bonds with a maturity of three years and six months, at a coupon below initial price guidance, The Economic Times reported, citing the company’s press release.
The non-banking financial company issued the notes at a spread of 107 basis points (bps) above US Treasuries, 33 bps tighter than the initial guidance of 140 bps.
Empty Skyscrapers: China’s Property Slump Still Throttling Growth
China’s property crisis drags on and home prices have stagnated, dissuading would-be buyers, AFP reported.
Investment in real estate development across the country saw an 18% drop year-on-year between January to June, according to official data, with residential investment falling 17.8%.
Indonesia Roundup
Indonesia’s Nutrition Agency Owes $89.27 Million in Unpaid 2025 Bills
Indonesia’s National Nutrition Agency (BGN) still has IDR 1.61 trillion (USD 89.27 million) in unpaid obligations from its 2025 budget, with all completed projects set to be paid through the 2026 state budget allocation, Jakarta Globe reported, citing a senior official.
BGN’s data showed that the largest portion of the unpaid bills comes from capital expenditure, including state-funded kitchen construction, totaling IDR 1.04 trillion.
Malaysia’s Retirement Fund Pursues Avenues to Maximize Recovery of eFishery Investment
Malaysia’s retirement fund Kumpulan Wang Persaraan (KWAP) is pursuing “all available avenues” to maximize the recovery of its investment in failed Indonesian startup eFishery, according to its statement.
KWAP’s total investment in eFishery amounted to RM 163.4 million (USD 39.9 million), representing approximately 2.51% of the company’s total shareholding.
“KWAP was a minority shareholder, while the majority of the company’s shares were held by other investors, including major global institutional investors that were similarly affected by the misconduct,” according to the statement.
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