Asia Roundup
Blackstone in Advanced Talks to Be New World’s Top Shareholder
Blackstone is in advanced talks to become the single largest shareholder of New World Development, a move that would see one of Hong Kong’s richest families relinquish control of a major asset, Bloomberg reported.
Under the proposed deal, the US company would be able to restructure the embattled developer and New World could continue to try to offload assets to shore up liquidity.
India’s NCLTs Will Take Nearly 10 Years to Clear Pending Cases
India’s National Company Law Tribunals (NCLTs) will take nearly 10 years to clear around 30,600 pending cases at the current rates, Bar and Bench reported, citing the Economic Survey of India 2025–26.
The survey flagged serious capacity constraints that threaten to undermine the effectiveness of India’s insolvency framework.
Khazanah, Temasek Seen Putting Marina One Up for Sale
Malaysian sovereign wealth fund Khazanah Nasional and Singapore’s Temasek are mulling a sale of Marina One’s office and retail components, which market watchers expect to be put up for sale soon with a total asking price in the SGD 5 billion to SGD 6 billion range (USD 4 billion to USD 4.7 billion), Business Times reported.
The mixed-use project’s developer, M+S, is understood to have appointed JLL and Eastdil Secured to advise it on the sale.
Indonesia Roundup
Indonesia Attempts to Soothe Worries After $80 Billion Market Rout
Indonesian authorities scrambled to arrest a flight of capital from the stock market, rolling out measures to counter the risk of a downgrade to frontier-market status that prompted a sell-off of more than 8% in just two days, Reuters reported.
“The MSCI warning came at an inopportune time,” said Gary Tan, Singapore-based portfolio manager at Allspring Global Investments. “This triggered a typical sell first, ask questions later response from passive and benchmark-driven investors, resulting in a sharp near-term correction.”
Danantara Gets $1 Billion Loan at Double Cost of ‘Patriot Bonds’
Indonesian sovereign wealth fund Danantara has secured a loan equivalent to USD 1 billion, paying more than double for the money than it did with its so-called patriot bonds, Bloomberg reported.
The three-year loan offers an interest margin of 95 basis points above the US Secured Overnight Financing Rate for the dollar tranche, translating into about 4.61% at current levels.
Wijaya Karya Files IDR 4.37 Trillion Claim Over Whoosh Project Dispute
Indonesian state-owned builder Wijaya Karya has filed a IDR 4.37 trillion (USD 260.1 million) claim at the Singapore International Arbitration Centre (SIAC), Tempo reported.
The claim has not been agreed by Kereta Cepat Indonesia China (KCIC) and is related to the construction of the Jakarta-Bandung high-speed rail known as Whoosh.