Asia

JAKARTA — Bond investors should not bet on Indonesia selling debt at higher yields, as the amount to be raised for the rest of the year will be manageable and capital inflows will push yields lower, central bank governor Perry Warjiyo said on Wednesday. Warjiyo's comments come a day after the government raised 16.62 trillion rupiah ($1.08 billion) at its regular bi-weekly auction, below target, despite total incoming bids of 44.4 trillion rupiah. The government called for a greenshoe option auction on Wednesday for a maximum of 23.8 trillion rupiah, covering for the target it did not meet the previous day. Warjiyo told an online news conference the central bank bought 2.3 trillion rupiah in Tuesday's auction as a non-competitive bidder and may purchase more in the additional auct...

Private equity investment in Southeast Asia declined to US$12 billion last year after reaching a record high of $14 billion in 2017, with COVID-19 posing a risk to investment this year, a global consulting firm says. According to “Southeast Asia Private Equity Report” published by Bain & Company, last year’s private equity investment in Southeast Asia was driven by the internet and technology sector, which represented over 60 percent of all deals, especially in Indonesia. However, the COVID-19 pandemic and the global recession in 2020 will challenge private equity investment this year as investors look for ways to protect their investments and reemerge stronger after the crisis, the report said. “In preparation for this period, general partners are looking at the global finan...