Indonesia to Inject USD 12 bn into Banking System to Spur Growth

MACROECONOMY
Indonesia to Inject USD 12 bn into Banking System to Spur Growth
Finance Minister Purbaya Yudhi Sadewa will channel IDR 200 tn (~USD 12 bn) from govt. cash reserves at BI into SOE banks to spur lending, complementing prior measures such as IDR 16 tn for cheap loans, housing support, and renewed burden-sharing with BI. The scheme, on a non-leveraging basis, will provide liquidity to banks based on lending appetite, with cost of funds at 80% of BI’s 4% rate—slightly below major term deposit rates. The initiative targets growth above 6% toward 8% by addressing weak fiscal spending
and money supply growth, with BI having cut rates 100 bps YTD and eased liquidity via lower SRBI issuance and rates. (Bloomberg/Xinhua)

China SME Development Index Rose to 89.1 in Aug-25
China’s SME Development Index (SMEDI) rose to 89.1 in Aug-25 (+0.1 MoM; vs Aug-24: higher), marking a modest recovery amid policy support and consumption growth. Operating, market, cost, and investment sub-indices improved, while funding, labor, and profitability weakened. By sector, gains came from manufacturing, wholesale/retail, services, and F&B, while construction, transport, real estate, and IT declined. Regionally, East and West rose (+0.1 MoM), Central was flat, and Northeast fell (-0.4 MoM). (证券日报)

COMPANY
Mitra Adiperkasa (MAPI) to Be Acquired by Singaporean Investor
MAPI is set to be acquired by Pacific Universal Investments Pte. Ltd. from PT Satya Mulia Gema Gemilang, which currently owns 51% of MAPI. The Philippines Competition Commission has approved the transaction, stating it will not reduce competition in the Philippine retail sector, including MAPI’s subsidiaries MAP Active Philippines, Inc. and Planet Sports, Inc. Transaction value has not yet been disclosed in IDX filings. Pacific Universal, incorporated in Singapore in 2022, is a holding company with limited ownership information. (PHCC)

Medikaloka Hermina (HEAL) to Operate Two New Hospitals by End-25
HEAL will open two new type-C hospitals in Badung (Bali) and Salatiga (Central Java), each with 100 beds, targeted for soft opening in Nov-25 and grand opening in Dec-25 or Jan-26. The company invested IDR 200 bn per hospital, bringing its network to 53 hospitals with 8,487 beds by year-end. HEAL also expands its non-hospital business via PT MedikaLoka Manajemen, which now contributes 3.6% of revenue with EBITDA margins above 20%. (Kontan)