Asia Roundup
China Restarts Stalled Property Megaproject in State-Led Takeover
China has restarted one of its most prominent abandoned private megaprojects as part of a state-led restructuring of distressed real estate assets, Caixin reported.
The 596-meter (1,955-foot) 117 Tower in Tianjin, once a symbol of private-sector debt excess, has resumed construction after a decade of stagnation. The restart followed a state-backed takeover of the project.
In November, a consortium led by China State Construction Engineering Corporation (CSCEC), which included China Cinda Asset Management and a Tianjin municipal entity, acquired the stalled development and related assets for about CNY 8.7 billion ($1.3 billion).
Thailand May Seek Thaksin Bankruptcy Over $538 Million Tax Debt
Thailand’s Revenue Department said it may pursue bankruptcy proceedings against former Prime Minister Thaksin Shinawatra if it is unable to fully recover 17.6 billion baht ($538 million) in outstanding tax liabilities, Bloomberg reported.
Following a Supreme Court ruling that upheld the tax assessment against him, the agency has continuously pursued collection efforts, Acting Revenue Department Director General Somsak Anuntawat said. That included issuing payment notices and investigating assets that could be seized or frozen to settle the tax debt.
AsiaPhos Plans to Take Majority Stake in Australian Data Centre
AsiaPhos plans to acquire a data centre in Australia valued at A$15 million, The Edge reported. The data centre is held by an an associate of another Singapore-listed company, Figtree Holdings.
Under terms of a non-binding agreement, AsiaPhos is set to acquire 51% of an entity called DC Alliance, whose principal asset is the DCA PIER data centre at 1 Martin Place, Canning Vale, Western Australia.
Indonesia Roundup
As Prabowo Falters, Indonesia’s Political Heavyweights Smell an Opening
Indonesia’s next presidential election is not due until 2029, but it seems the fight may have started early in 2026, The Straits Times reported.
President Prabowo Subianto is facing sustained scrutiny over the economy, state spending, the cost of living and declining foreign investor confidence – a moment some rivals appear eager to seize.
In the last few weeks, some of the country’s biggest political names have already stepped back into the spotlight, from presidential hopeful Anies Baswedan to senior minister Agus Harimurti Yudhoyono to former president Joko Widodo.
Acrostics Asia wrote on 18 February 2026:
📒 Quick Take: Indonesia’s Year of Living Dangerously
Indonesia is entering a riskier chapter as President Prabowo Subianto seems to be turning more insular. The former general has multiple advisers, but the innermost circle is occupied by his younger brother, Hashim Djojohadikusumo, and his military schoolmate, Defence Minister Sjafrie Sjamsoeddin. Another prominent figure is Sufmi Dasco Ahmad (known as Dasco), a senior official in Prabowo’s Gerindra Party who serves as a deputy speaker of the House of Representatives.
Danantara to Start US Bond Roadshow as Indonesia Rout Deepens
Indonesian sovereign wealth fund Danantara is poised to kick off the US leg of its planned dollar bond roadshow this week, Bloomberg reported. Fund officials will hold meetings with investors in Boston on 9 June, and the roadshow will move to New York the following day.
In Asian meetings last week, Danantara told some investors that it plans to use part of the proposed bond proceeds to help refinance a $1 billion loan it got earlier this year, Bloomberg cited people familiar with the matter.
Acrostics Asia is an independent credit intelligence provider that delivers forward-looking insights across Asian sovereigns, private credit and restructurings.