Indra Kanoena, BUMA's president director, said the issuance, which was backed by mutual funds, insurers, asset managers, pension funds, and banks, will allow BUMA to become a more diversified mining company.
The move is part of a deal for Citi to sell consumer banking businesses in Malaysia, Thailand, Vietnam and Indonesia to UOB as it retreats from 14 markets in the space. Meanwhile, a major reorganisation at the bank has begun, including Asia leadership changes.
The $700 million loan secured by PT SMI signals a growing market for sustainable infrastructure development, as banks seek to support Indonesia’s transition to net zero.
Besides raising $6.73 billion in Southeast Asia’s largest rights issue in 2021, Indonesia-based BRI has emerged as a bank leading the change in the DEI and ESG spaces.
From Indonesia’s resource-rich, onshore EV supply chain, to Hong Kong’s suite of sophisticated primary market products, experts assess the opportunity on offer to both regions’ capital markets, following formal signature of a strategic partnership between HKEX and IDX last week.
India’s domestically-driven economy and Indonesia’s commodity-led exports should provide some resilience despite a more challenging operating environment characterised by higher global inflation, rising interest rates and liquidity tightening. Elaine Koh, senior director for Asia-Pacific non-bank financial institutions at Fitch Ratings discusses the prospects for India and Indonesia’s finance and leasing sector in the current economic environment.
Indonesia is the largest economy in Southeast Asia and home to tech success stories like GoTo and Bukalapak, but thanks to the market’s size and scale, we are only at the very beginning of its start-up story.
The listing will be the Indonesian bourse’s third largest, after those of Bukalapak and GoTo. But Blibli may not enjoy the same “hype” as its predecessors, given the instability of tech sector share prices, experts opined. Both firms have seen their share prices drop significantly since IPO.
Vietnam’s start-up ecosystem often draws comparison with that of Indonesia and China some years back, but investors in the market face different opportunities and exit options, say VC experts.
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