👟 Walk the Talk: Asian Sovereigns
Acrostics Asia delivers forward-looking insights with proven accuracy across Asian sovereigns and state-linked entities.
🌊 Indonesian Outflows
In early 2026, Acrostics Asia has been consistently ahead of the curve on Indonesia’s battle against fund outflows. The move by Moody’s to cut Indonesia’s rating outlook on 5 February is likely to compound investor concerns over the growing centralization, widening fiscal deficit and a potential MSCI downgrade.
🛩️ Garuda Indonesia
Acrostics Asia was two months ahead of the official announcement that Indonesia was lining up a capital infusion for Garuda Indonesia via sovereign fund Danantara. Acrostics Asia also connected the financial, legal, operational and political dots to accurately map the flag airline’s trajectory throughout the year.
💵 Danantara
Acrostics Asia has accurately mapped Danantara’s reason for existence and fundraising route even before the Indonesian sovereign fund was formally launched.
⚙️ Krakatau Steel
Acrostics Asia analyzed the Indonesian state-owned steel maker’s financials, which showed parallels with the debt-laden textile companies that clung to a shrinking lifeline.
🏗️ Indonesian State Builders
More than half a year before the official announcements, Acrostics Asia flagged that state-owned builders including Wijaya Karya and Waskita Karya had to go for another round of restructuring as President Prabowo Subianto slashed Indonesia’s infrastructure budget.
🧳 SriLankan Airlines
Three months before Sri Lanka’s flag carrier struck an in-principle restructuring agreement with its offshore bondholders, Acrostics Asia warned that these noteholders had limited negotiating leverage. A clause in Sri Lanka’s restructuring gave the nation a justification not to give special treatment to any group of creditors.
🧬 China’s Double Helix
Acrostics Asia wrote that China’s property and local government financing vehicle (LGFV) sectors are intertwined, complicating official efforts to unclog the bad debt in the system.
🪢 Asian Sovereigns’ Tug of War
State-linked entities across India, Indonesia and China are caught between performing their national duty and reining in leverage. This tug-of-war has long been a feature in the sovereign space, but now the stakes are higher because of the growing pile of debt to cover the costs of building infrastructure and subsidizing public services.