📰 Weekly Roundup (7-13 July 2026): IWIRC x Acrostics Asia Southeast Asia Restructuring Evolution | Southeast Asia Radar #4 | Del Monte Pacific | 3 India Headlines #4 | Building Notes
Weekly newsletter
Dear Valued Contacts,
I am teaming up with the International Women’s Insolvency & Restructuring Confederation (IWIRC) to present a panel discussion on Southeast Asia’s restructuring evolution. I hope you’ll be able to join us on Wednesday, 29 July 2026, as we will discuss the latest restructuring developments across Singapore, Indonesia, Malaysia and Vietnam.
Singapore lawyers can obtain one Public Continuing Professional Development (CPD) point by attending this event. For those who are not based in Singapore, you can also dial in virtually.
Click here to find out more and register for the event.
🛜 Southeast Asia Radar #4 (10 July 2026)
Note: Click the link to read the full Radar.
In April last year, I flagged that capital had flowed out of Indonesia partly due to fears of being caught on the wrong side of the power consolidation after President Prabowo Subianto took office. I reconstructed the deteriorating relationship between some of these tycoons and the presidential palace.
Turning to Vietnam, a couple of financial advisors were monitoring Vingroup because of the conglomerate’s large-scale ambitions and perceived pockets of weakness. But the group founded by well-connected Vietnamese billionaire Pham Nhat Vuong seems to have retained access to both onshore and offshore financing.
Around the Region
Philippines: The sovereign issued USD 2.5 billion bonds, Philippine Airlines sold USD 300 million notes, Fitch said banks may face higher credit impairments this year.
Singapore: DBS completed its inaugural synthetic securitisation, while Singapore’s best-known F&B brands retreated from China.
Malaysia: Malaysia’s unemployment rate stayed at an 11-year low, but economists said the headline figure masks a deeper problem: underemployment.
People to Watch
Hendra Soenardi represented Xiamen ITG Group and its Indonesian subsidiaries in initiating court-supervised restructuring (PKPU) proceedings against Wanxiang Nickel Indonesia.
🚨 Newsflash: Del Monte Pacific Responds to SGX Query on Net Capital Deficit (8 July 2026)
Del Monte Pacific has issued a response to a query from the Singapore Exchange (SGX) on its net capital deficit and ability to continue operating as a going concern. I’ve extracted the key points from the company’s filing to the SGX.
📑 3 India Headlines #4 (12 July 2026)
Note: Click the link to read the full Headlines.
Adani’s Comeback: Barely two months after settling its major legal disputes in the US, Adani Group has lined up nearly USD 10 billion in fresh capital and strategic investment commitments, Mint reported on 7 July 2026. I wrote four months ago that some lenders stood by Gautam Adani because they believed that the outcome of the US cases should be manageable for the Indian billionaire. Since then, Adani’s easing US legal woes have paved the way for his group to resume its fundraising momentum.
SP Group’s Bond Launch: Shapoorji Pallonji Group (SP Group) opened its first-ever USD bond issue for subscription, looking to raise USD 650 million, Reuters reported. I wrote two months ago that SP Group’s refinancing story is not necessarily about fundamentals, as it hinges on the shared incentives among the company, existing creditors and arrangers to maintain the hope of a potential monetization of its stake in Tata Sons.
Snail Speed: India’s Supreme Court recently criticised the slow pace of trial in a commercial suit pending before the Delhi High Court since 2015, Bar and Bench reported. “The suit in question was filed in 2015. As of 2026, plaintiff’s evidence is ongoing. We may say that even a snail may question the speed at which this trial is proceeding,” the Court said.
🧱 Building Notes (11 July 2026)
One of the core values for Acrostics Asia is that relationships matter. Long-term upside should be prioritized over short-term gains, trust has to be earned overtime, and showing up beats buzz words.
Acrostics Asia is an independent credit intelligence provider that connects the dots across Asian sovereigns, private credit and restructurings.