Asia’s private credit lenders are increasingly adopting payment-in-kind (PIK) structures as higher-for-longer interest rates, tighter bank capital rules and shallow bond markets squeeze borrowers’ cash. Previously used mainly in distressed and mezzanine deals, PIK is now emerging in senior direct lending, allowing interest to accrue to principal or convert to equity to preserve liquidity while increasing leverage. Variations include holdco PIK, split PIK and toggle PIK, with

Munich-based family office Perpetual Investors is shifting its focus towards Asia infrastructure as it trims a historically US-heavy portfolio, according to Infrastructure Investor. Founded in 2015 as the investment office of Bavaria’s Wilsdorf family, Perpetual backs entrepreneurs, other family offices, and institutional investors, with several years’ experience in infrastructure assets. The firm is pursuing broader diversification across Asia, Europe, and the US but notes r

The Singapore-based Global Finance & Technology Network (GFTN) and US payments firm Ripple have launched a partnership to train policymakers and regulators on digital assets, beginning with over 200 central bankers and supervisors from Australia, the Philippines, Thailand, Korea, Taiwan, and Indonesia. The “Decoding Digital Assets” programme spans six weeks, combining an eight-hour course with fortnightly live sessions and a tabletop simulation addressing risks such as cross-

Hong Kong police have charged 16 people in connection with the JPEX cryptocurrency scandal, including former barrister and influencer Joseph Lam Chok, on conspiracy to defraud counts. Authorities said three additional suspects – two masterminds and a core member – have fled overseas and are now the subject of Interpol notices. The probe, launched in September 2023, has led to 80 arrests and the freezing of HKD228m (USD29m) in assets, including HKD14.5m in cryptocurrencies, pr

Thailand’s central bank will now permit non-bank institutions to establish asset management joint ventures to help resolve bad loans, expanding a framework previously limited to banks, according to rules published in the Royal Gazette. Applicants have two years to file, with each JV-AMC allowed to operate for up to 15 years. Initially deployed during the pandemic, the scheme has been extended to support ongoing debt workouts. Krungthai Bank plans to apply next year and expect

Participants: Tom Digby, Managing Director, Head of APAC ETF Distribution, ETFs & Indexed Strategies Justin Ng, Principal, King Seal Holdings Jonathan Wu, Wings Capital Ventures Helen Chen, Chief Strategy Officer, FGA Trust Archit Parakh, Head of Investments, Syfe Hong Kong Major Trends Digital Transformation Is Accelerating Family offices are adopting digital investment vehicles and platforms to streamline operations and meet the expectations of younger, digitally native gen

Participants: Lixia Zhu, Principal, 76Columbus Hampton Tao, Investment Manager, New Heritage Group Eesha Khader, Director of Investments, AKG Investments Conrad Ho, Co-Founder Talent Co-Op Major Trends for Strategic Assets Allocation Across Boarders Cross-Border Allocations and Globalization Family offices are increasingly diversifying globally, seeking opportunities across regions, including Hong Kong, and the Middle East. Cross-border allocations are not only about financia

Franklin Templeton has launched Hong Kong’s first Luxembourg-registered tokenised fund, marking a milestone in the city’s Fintech 2030 blueprint. The Franklin OnChain US Government Money Fund, which invests in US government securities, will be offered to institutional and professional investors with at least HKD8m (USD1m) in assets. The initiative brings tokenisation—blockchain-based representations of traditional assets—into Hong Kong’s regulated wealth market, improving set

Indonesia’s economy expanded 5.04% year on year in the third quarter, easing from 5.12% in Q2 as weaker sentiment and late-August protests weighed on spending and investment. The figure, matching Bloomberg forecasts, still outpaced regional peers but indicated softer domestic demand under President Prabowo Subianto’s new administration. Economists said the slowdown could prompt Bank Indonesia to remain dovish, with OCBC’s Lavanya Venkateswaran expecting a cumulative 50-basis-

Thailand will set up a new data bureau to trace suspicious fund flows tied to online gambling, scam accounts, and other grey-money channels, Finance Minister Ekniti Nitithanprapas said. The system, due by December, will integrate data across ministries, banks, and regulators under a “Connect the Dots” task force with the Bank of Thailand. Prime Minister Anutin Charnvirakul backed the move amid questions over the baht’s firmness despite weak growth. Authorities said illicit fu

Hong Kong could overtake London as the world’s No.2 financial centre next year, according to GCM Grosvenor CEO Michael Sacks at the Global Financial Leaders’ Investment Summit. He cited the city’s talent depth, international access, and rule of law as major strengths. Hermes Li of Aspex Management said Hong Kong should benefit as Chinese savers shift from property to equities and as more A-share tech firms pursue local IPOs, including CATL’s 2025 debut (stock code 3750). For

Hong Kong will leverage artificial intelligence to attract global investment, Financial Secretary Paul Chan said at the Global Financial Leaders’ Investment Summit. Highlighting the Hong Kong AI push, Chan cited WTO data showing that private capital in AI reached about USD190bn this year. The city will adopt a 'twin-engine' strategy—developing AI as a core industry while using it to upgrade traditional sectors. Government initiatives include direct investments, startup suppor

Akamai’s State of the Internet report revealed that Asia-Pacific businesses encountered more than 10.5bn AI-bot triggers in just two months, as bot activity surged 300% year-on-year. The region accounted for roughly one-fifth of global traffic, second only to North America. India led with 3.2 billion triggers, followed by Japan (2.8 billion), China (1.7 billion), and Singapore (899 million). Commerce accounted for 47% of APAC AI-bot activity, with retail making up nearly thre

Morgan Stanley CEO Ted Pick and Goldman Sachs CEO David Solomon warned that a market correction is likely, even as they remain positive on the overall cycle. Speaking at Hong Kong’s Global Financial Leaders’ Investment Summit, they said equity indices could experience a 10–20% drawdown within 12–24 months. While the S&P 500 has risen more than 15% this year following steady gains since April, the executives noted that elevated technology valuations and the strong run in preci

Bahrain has inaugurated the Bahrain International Commercial Court (BICC), a judicial platform designed in collaboration with the Singapore International Commercial Court (SICC). The initiative establishes a framework allowing appeals from BICC cases to be reviewed by an SICC International Committee composed of SICC judges and ad hoc BICC members. The Bahrain International Commercial Court will operate in English, permit foreign counsel participation, and allow the applicatio

Hong Kong FinTech Week 2025 opened with a strong policy focus on AI, tokenisation and cross-border innovation under the joint Hong Kong FinTech Week x StartmeupHK Festival. Officials from Hong Kong and the People’s Bank of China highlighted next-generation technologies, interoperable payments and digital RMB pilots. The HKMA unveiled its “FinTech 2030” pillars — data, AI, resilience and tokenisation — expanding the DART roadmap, while the SFC released circulars permitting lic

The Singapore family office regulation 2025 update shows that 3% of around 1,300 applications for tax-exempt family offices were blocked over the past three years, while incentives were clawed back from two vehicles linked to the Prince Group, sanctioned by the UK and US for large-scale scams. Authorities said police seized more than SGD150m (USD110m) in assets, including properties and accounts. Singapore has tightened scrutiny after a SGD3bn money-laundering case in 2023 th

The InvestHK initiative seeks to increase Hong Kong-registered fintech firms’ presence in Philippines , as only 1.9% currently operate there — the lowest among ASEAN peers. Speaking at Hong Kong FinTech Week 2025, officials said stronger promotion and confidence-building are needed for Manila amid low FDI levels from Hong Kong. Singapore hosts 37% of regional fintechs, followed by Malaysia (20.4%), Thailand (11.1%), Indonesia (7.4%) and Vietnam (6.5%). InvestHK praised the Ph

The Citi family office head Hannes Hofmann will leave the bank about three years after joining, marking another leadership change within Citigroup’s global wealth business. Hofmann, who joined in 2022 from JPMorgan, expanded the firm’s family office coverage and quantitative strategy adoption. His departure follows an earlier private-bank restructuring that saw global head Ida Liu step down and the introduction of four regional heads reporting to wealth chief Andy Sieg, who j

The AIIB Hong Kong office will strengthen the bank’s access to Asia’s capital markets and sustainable finance ecosystem. The Asian Infrastructure Investment Bank said it will open an office in Hong Kong to support its expanding operations, with full backing from local authorities. The office will tap Hong Kong’s deep markets and financial expertise to support infrastructure financing, bond issuance, and investment management. The move aligns with the city’s role as a gateway