Asia Roundup
Underwater Mortgages Force China’s Banks to Get More Creative
Sinking real estate values in China are pushing millions of mortgages underwater, increasing the risk of losses for lenders and property owners, Bloomberg reported. Behind the scenes, Chinese bankers and officials are getting creative to contain the fallout.
Several state-owned banks have approached cash-strapped borrowers and offered them payment holidays on their mortgages for as long as two years. Some lenders are working with individual customers to find buyers for their homes, instead of calling defaults and foreclosing on the properties.
Top Indian Court Refuses to Interfere with Order Allowing Adani to Acquire JAL
In a setback to Vedanta Group, India’s Supreme Court declined to stay the implementation of Adani Enterprises’ resolution plan for debt-ridden Jaiprakash Associates Ltd (JAL), NDTV reported.
A bench led by Chief Justice Surya Kant noted that the insolvency proceedings are already listed for a final hearing before the National Company Law Appellate Tribunal (NCLAT) on 10 April 2026, and therefore found no reason to intervene at this stage.
Vinpearl Aims to Raise VND 8 Trillion via Preferred Share Offering
Vietnam’s Vinpearl has proposed a private placement of up to 100 million preferred shares in 2026, Vilasia wrote, citing a local report. These shares are convertible into common shares and carry a 6% cumulative annual dividend.
The offering price is set at VND 80,000 VND per share, with a target to raise a maximum of VND 8 trillion (USD 303.8 million at today’s exchange rate), according to the report.
Malaysia’s Sunway Fails in Bid to Take Over IJM
Sunway’s bid to take over IJM Corp has failed as it did not get enough support from IJM’s shareholders, The Edge reported.
On 6 April, the closing date of the offer, Sunway had received acceptances amounting to only 33.43% – below the 50% threshold.
Indonesia Roundup
Indonesia’s Central Bank Intervenes in FX Market After Rupiah Hits Record Low
Bank Indonesia has intervened to maintain the rupiah's stability and avoid excessive volatility after the currency hit a record low against the dollar, Reuters reported, citing Senior Deputy Governor Destry Damayanti.
The rupiah weakened to 17,090 per dollar on Tuesday morning, according to LSEG data. The currency has fallen by more than 2% against the dollar in 2026, which is in line with some of its regional peers.
Indonesia Moves to Reclaim 1,700-Hectare Illegal Mine After Arrest of Tycoon Samin Tan
Top Indonesian law enforcement officials and cabinet members inspected a nearly 1,700-hectare illegal coal mining site in Central Kalimantan – linked to mining tycoon Samin Tan – following his recent arrest, Jakarta Globe reported.
The site was operated by Asmin Koalindo Tuhup, a company owned by Samin, whose mining license was revoked by the government in 2017. Samin was arrested by the Attorney General’s Office on 28 March and named a suspect in a corruption case.
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