Acrostics Asia

Founded by financial journalist Eveline Danubrata, Acrostics Asia aims to build connections through content, events and marketing. It is named after a type of puzzle whereby letters in each line connect to form a new word. In a world of information overload, Acrostics Asia helps its audience to make sense of things by connecting the dots and providing the local context. It seeks to capture the nuances in emerging markets, which are never black and white. Please consider following Acrostics Asia if you haven't already. I'm still building the page, but this is what's in store: ?? Take 5 - daily news roundup ?? Brief Take - breaking news commentary ?? Quick Take - slightly longer analysis ?? Week Take - weekly newsletter ?? Guest Take - contribution from friends ?? Fun Take - puzzles, games or illustrations ?? Acroustics - podcast series ?? Slideshow - interesting visuals

?? Slideshow: Faces of Sritex Workers Thousands of Sri Rejeki Isman (Sritex)'s workers were laid off as the Indonesian textile company shut its factories, CNN Indonesia reported. Most of the textile workers were women, with some of them wiping away tears on their last day. Other staff collected signatures from their colleagues on their uniforms. For the full slideshow: https://lnkd.in/gxP4ezzW

?? Take 5: Asia News Roundup (1 March 2025) ?? China Factory Activity Returns to Expansion But Trade Risks Grow China’s factory activity returned to expansion in February, a sign of resilience in an economy hit by higher US tariffs and suffering from weak domestic demand. China’s economy grew more than expected in 2024, thanks to a late blitz of supportive policies and an export boom. But the recovery has remained uneven, with manufacturing at times a bright spot while consumption has been weighed down by a weak job market and a prolonged real estate crisis. For the full story: https://lnkd.in/gMVT25fK ???? India’s GDP rebound offers comfort to Narendra Modi’s government India’s economic growth has rebounded after bountiful harvests boosted rural consumption and the government of Prime Minister Narendra Modi ratcheted up spending. Government data on Friday showed India’s GDP grew 6.2 per cent in the quarter to the end of December from the same period a year earlier, offering some relief to Modi, who has recently sought to cushion the squeezed middle-class. For the full story: https://lnkd.in/g9GJui8h ?? Singapore PM Defends Election Year Handouts After Criticism Singapore Prime Minister?Lawrence Wong?defended an election year budget featuring a list of handouts after opposition figures criticized the measures as a short-sighted solution for addressing rising living costs. For the full story: https://lnkd.in/gt-KXXwS ??? Thailand’s tourism tax to be introduced during upcoming high season The tourism tax of 300 baht (S$11.80) a person will come into force for foreign tourists by the end of 2025, Thailand’s Tourism and Sports Minister Sorawong Thienthong said on Feb 27. For the full story: https://lnkd.in/ghARZnsD ??♀? Vietnam’s floating markets dwindle as economy soars Before the development of roads and bridges, the myriad waterways of the delta region were the primary means of trade and transport, leading to the development of floating markets where channels converged. But over the last two decades, the markets have dwindled in size in tandem with Vietnam’s rapid economic development – first gradually, then suddenly – and only two of the region’s 10 major markets retain any significant presence. For the full story: https://lnkd.in/gmCKKEEX

LMEs are not defaults LMEs are not defaults LMEs are not defaults And hence default rates stay low... https://lnkd.in/guPMJTpx

In this Quick Take: - Sritex closed its factories today, ending its legacy as a household textile manufacturer. - The mass layoffs will contribute to the rising jobless rate in Indonesia, while creditors face limited recovery. - The last leg in Sritex’s journey was defined by a failure of accountability.

First Episode of Asian Insolvency Spotlight: The Next Generation - Out Now! How are offshore jurisdictions shaping cross-border restructurings? Where is insolvency law headed in China and India? What challenges lie ahead for cross-border R&I? Find out in the first episode of INSOL Asia Hub’s new vlog series, where rising professionals share fresh perspectives on the evolving R&I landscape. Moderated by Danny Quah 柯律师, this episode features: ?? Amelia Tan - Insights on the evolution of offshore jurisdictions as established forums for R&I and the innovative role of the restructuring officer in the Cayman Islands, and the integration of arbitration in insolvency proceedings. ?? Dr. Shuai Guo - A look at Enterprise Bankruptcy Law (EBL) in China, its development and impact, and discussions in China on the adoption of the Model Law on Cross Border insolvency. ?? CA S.Badri Narayanan - Perspectives on India’s insolvency framework and key developments in cross-border R&I. Expect candid discussions on: ?? What drew them to R&I and the most notable cases they have worked on ?? Key features of R&I laws in India, China, and offshore jurisdictions ?? The biggest challenges and opportunities for cross-border R&I ?? Practical takeaways for professionals navigating the global insolvency landscape. Watch the full episode here: https://lnkd.in/gYzUvzFa What are your thoughts on the future of cross-border R&I? Share them in the comments! A special thank you to CHP Law LLC for sponsoring the series. We appreciate your support in driving forward these important conversations in the R&I space. #INSOLAsiaHub #AsianInsolvencySpotlight #Restructuring #Insolvency #CrossBorder #NextGenerationLawyers

??? Sritex News Roundup Eveline's Brief Take: https://lnkd.in/gj5HgQ4t 1?? Sritex administrators to liquidate assets to pay debt Indonesian textile company Sri Rejeki Isman (Sritex)'s court-appointed administrators will liquidate its assets to pay its debt. In a meeting on Friday (28 February 2025), Sritex's creditors decided against continuing the company as a going concern as it is deemed to be insolvent. Sritex has no working capital while facing high production costs, Antara reported, citing one of the administrators, Denny Ardiansyah. Continuing the business is feared to cause further losses, he added. For the full story: https://lnkd.in/gs2_4Qz5 2?? Bankrupt Sritex lays off nearly 11,000 workers Sritex and three of its units - Primayudha Mandirijaya Boyolali, Sinar Pantja Djaja Semarang, and Bitratex Industries Semarang - laid off nearly 11,000 workers in total. For the full story: https://lnkd.in/g2ixhgZW 3?? Economics Minister says Manpower Minister to check with administrators on Sritex layoffs When asked about the mass layoffs at Sritex, Coordinating Minister for Economic Affairs Airlangga Hartarto told reporters that Manpower Minister Yassierli will check with the administrators. For the full story: https://lnkd.in/g6WfZ6UE 4?? Central Java Governor to give vocational training to laid off Sritex workers Central Java Governor Ahmad Luthfi said he will prepare vocational training for laid off Sritex workers. He did not specify the training, but said that he has "coordinated at the ministry level." For the full story: https://lnkd.in/gB9iJ7zb

?? New Report! ?? Fundraising by VC firms based in Southeast Asia hit a four-year low in 2024. Fourteen regional funds secured a final close last year, compared with 32 in 2023. The capital raised by VC funds that closed in 2024 stood at $2.15 billion, down from $6.77 billion in the previous year. Meanwhile, foreign VCs funds with full or partial mandates in Southeast Asia closed nine funds, raising $2.93 billion, closely aligning with the previous year’s figures. However, fundraising levels remain a far cry from the peak years of 2022 and 2021. Get a holistic view of what ails VC fundraising in the region: - Fundraising by SE Asian VC firms slumps - Debut funds continue to struggle - Only two ESG funds closed in 2024? - Some LPs are reallocating capital to markets like India Read the report: https://lnkd.in/dwCfPcHd #Report #SEA #VCFunds

We just published a note discussing what to expect for China’s “two sessions” next week : ? Growth target at around 5% again; ? Inflation target at around 2% (from 3% previously);? ? Fiscal: deficit-to-GDP at 4%; Rmb4.7trn in local government special bonds; and Rmb2trn in ultra-long-term special sovereign bonds. ? Fiscal options will be more flexible, depending on how crazy Donald Trump will be. Other things to watch: ? How does the government intend to support consumption: we argue that consumption stimulus has the potential to reach 1trn, although not all measures we mention in this note will be implemented. https://lnkd.in/enDMHpR9 ? How will the AI+ campaign look like: state will rely on private firms for innovation + leave the responsibility of expanding computing infrastructure to SOEs. ? Will small firms get repaid: unlikely that the central government will provide much support; burden stays with local governments, with gradual progress.

?? Brief Take: Danantara, Indonesia’s Temasek? ? Eveline was interviewed by BBC Chief Presenter Steve Lai on Tuesday (25 February 2025) about the launch of Indonesia’s new investment fund Danantara. ? Eveline’s Take: ? ?? Danantara—which was pitched as Indonesia’s version of Singapore state investor Temasek—aims to consolidate state-owned assets and leverage them to fund President Prabowo Subianto’s projects. ? ? The scale of Prabowo’s ambitions and the speed at which he’s trying to achieve them are the hallmarks of his presidency, but he needs to balance his vision with the commercial reality. Prabowo said Danantara will manage assets worth USD 900 billion – that’s comparable to the amount managed by Singapore sovereign wealth fund GIC, which is a lot more established and has a longer track record. ? ?? On paper, it makes sense to consolidate the fragmented state assets and attract investments to grow the domestic economy. However, governance and independence from political intervention are crucial to build investor confidence in Danantara. Investors don’t want Danantara to become a cash cow for political purposes. ? ?? The president’s drastic budget cuts have drawn criticism and sparked protests on the streets. To understand the source of this discontent, imagine an Indonesian civil servant coming to work to find out that the toilet rolls have been rationed and the office lights are dimmer than usual – and that part of those cuts will fund Danantara. ? For background reading: https://lnkd.in/gpMQm9ht https://lnkd.in/gESDzXGr https://lnkd.in/dzWkxUkH