E-commerce and fast-moving consumer goods (FMCG) players in several Asian countries, including Indonesia, believe their business will resume quicker than other sectors after the pandemic, a recent survey shows. They expect businesses to return to normal within five months, around a month earlier than 6.2 months expected by other sectors, according to a survey by […]
Read MoreThe government plans to allocate an additional Rp 56.5 trillion (US$3.8 billion) to a number ministries and agencies in 2021 to revive the economy, according to the National Development Planning Agency (Bappenas). Bappenas chairman Suharso Monoarfa said on Tuesday that the extra funds would be allocated to cover non-operational expenditures for the economic recovery and social […]
Read MoreThe government has issued a regulation on economic recovery to support, maintain and strengthen businesses, stipulating state capital injections for ailing state-owned enterprises (SOEs) and loan subsidies for small businesses, among other things. Under Government Regulation (PP) No. 23/2020 on the national economic recovery program, which took effect Monday, the government will carry out efforts to support […]
Read MoreThe liquidity of Indonesian banks will remain in check despite economic risks brought by the COVID-19 pandemic and loan restructuring program that defers credit repayments, economists have said. Fitch Ratings director for banks Gary Hannify said Indonesia’s 12-largest banks had ample liquidity as reflected in liquidity coverage ratios of about 180 percent at the end of 2019, adding […]
Read MoreIndonesia is finalising a $1 billion financial bailout plan for its flag carrier to help it stave off a debt default after the coronavirus crisis forced the airline to ground most of its planes. The rescue plan includes a proposal to restructure PT Garuda Indonesia’s $500 million sukuk due next month and arrange new bridge […]
Read MoreIndonesian rating agency Pemeringkat Efek Indonesia (Pefindo) has revised the outlooks of several financial institutions and downgraded the rating of asset-backed securities amid concerns over the impact of COVID-19 on the institutions’ performances. Between April 1 and May 5, the rating agency revised the outlooks of Mandala Finance, Bank Capital, Bank Victoria and Trimegah Sekuritas […]
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Thailand
