Asia Roundup
Thailand’s Major Banks Face Pressure from Weak Economy
Thailand’s weak economic environment will put pressure on major banks’ earnings and asset quality during 2026, Fitch Ratings said. There are some buffers supporting the major banks’ viability ratings, but these have been declining, particularly in terms of asset quality.
Banks’ asset quality is likely to weaken as more vulnerable borrowers, such as SMEs and some retail segments, come under increasing pressure, and Fitch expects impaired-loan ratios to rise in 2026.
Apollo and Singapore’s Keppel to Invest in New Offshore Energy Asset Fund
Apollo-managed funds and affiliates have agreed to invest $1.5 billion into Keppel Ltd’s Keppel Offshore Fund, which will hold a portfolio of offshore energy assets, according to Apollo’s press release.
The transaction, rated investment grade and one of the first of its kind in Southeast Asia, takes place as the region’s offshore energy market sees increased growth supported by high utilization rates and long-term demand trends, Apollo said.
BGO Teams Up with Investa, Cliffbrook to Buy Dexus Aussie Offices
BGO has made its third major commitment to Australia’s office sector, teaming up with local partners to buy a trio of properties from ASX-listed Dexus for A$715 million ($500.5 million), Mingtiandi reported, citing announcements by the companies.
Together with local partner Cliffbrook Capital, BGO has agreed to buy both 30-34 Hickson Road and 36 Hickson Road in Sydney, and is partnering with Investa to purchase 123 Albert Street in Brisbane from Dexus.
Indonesia Roundup
Prabowo’s Approval Rating Drops to 51.1%
The approval rating of President Prabowo Subianto fell to 51.1% in July 2026, a poll showed, with respondents pointing to the state of the country’s economy more than a year and a half into his term of office, Reuters reported via The Star.
Nearly half of the respondents, or 49.4%, said economic conditions were either “bad” or “very bad”, with just 15.7% saying the economy was doing well, down from 40% in November.
MACC Pursues Documents from Dubai, Singapore and Indonesia as KWAP Investment Probe Widens
The Malaysian Anti-Corruption Commission (MACC) has identified Dubai, Singapore and Indonesia as the three key jurisdictions from which it intends to obtain documents through the Mutual Legal Assistance (MLA) process as part of its investigation into investment activities involving the retirement fund Kumpulan Wang Persaraan (KWAP).
The MACC recorded statements from several individuals as part of its investigation into a RM 200 million investment in Indonesian aquaculture technology company eFishery, Bernama reported via Malay Mail.
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