Asia Roundup
New World Weighs Sale of Stake in $2 Billion HK Hotel Portfolio
New World Development, the cash-strapped property developer, is in talks to sell its 50% stake in a portfolio of three Hong Kong hotels valued at a total of USD 2 billion, Bloomberg reported, citing people familiar with the matter.
The portfolio includes the Grand Hyatt, the Renaissance Harbour View Hotel, and the Hyatt Regency in Kowloon. Abu Dhabi Investment Authority owns the other half of the portfolio.
The potential buyers include Singapore-based Aravest, a Sumitomo Mitsui Finance & Leasing-backed real estate manager, according to Bloomberg. New World is expected to pocket about USD 300 million in cash after netting off debt.
Mongolia’s Minerals Law: The Overdue Reform Is Now on Parliament’s Desk
Mongolia's Cabinet approved last week long-overdue amendments to the Minerals Law – legislation that has been discussed for the better part of a decade and is finally on Parliament's desk, Capital Markets Mongolia (CMM) wrote.
The bill revises up to 50% of the existing framework and targets five structural failures in one go: royalty distribution, the stalled copper pipeline, exploration licensing, processing regulation, and critical minerals, according to CMM.
OCBC to Buy HSBC Wealth, Premier Banking Portfolio in Indonesia
Singapore’s Oversea-Chinese Banking Corporation (OCBC) said its Indonesian unit has agreed to acquire certain assets and liabilities of HSBC's wealth and premier banking portfolio in Indonesia, Reuters reported via CNA.
Indonesia Roundup
Indonesia Q1 Growth Hits 3-year High, But Momentum Seen Peaking
Indonesia’s economy expanded at its fastest pace in more than three years in the first quarter of 2026, but economists warn that rising global tensions and domestic fiscal pressures could weigh on growth in the months ahead, The Business Times reported.
Reuters reported that the first-quarter growth was supported by a 21.8% surge in government spending, which included holiday bonuses for civil servants and spending for President Prabowo Subianto's free-meal program in schools.
“The first quarter likely marked the peak in the growth pace, with the momentum set to moderate in the subsequent quarters as real activity could be dampened by high energy prices and pressure to consolidate fiscal finances,” Reuters quoted DBS Bank analyst Radhika Rao as saying.
Indonesia Intervenes in Markets as Rupiah Sets New Record Low
Indonesia’s central bank intervened in the foreign exchange markets as the rupiah set a new record low, Bloomberg reported. Bank Indonesia intervened through offshore and domestic non-deliverable forwards, spot transactions and government bonds in the secondary market.
The rupiah dropped 0.2% to 17,422 per dollar on the day, marking an all-time low, according to Bloomberg. Investors are dumping assets of nations which are most impacted by the surge in oil prices following the Iran war.
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