Developers jostle to unload property

Article Abstract:

Indonesian property development firms are selling real estate at bargain prices in an effort to gather enough cash to pare down debt that has risen drastically due to the Southeast Asian currency crisis. According to Phil Simpson, director for Asia at Jones Lang Wootton, the need to raise cash flow at such a time of crisis has spurred property developers into selling at highly competitive prices. The rupiah's drastic slide against the US dollar since the summer of 1997 has resulted in a rise in interest and mortgage rates to over 30% and 24%, respectively.

Real Estate, Real Estate and Rental and Leasing, Economic aspects, Indonesia, Real property, Currency devaluation, Devaluation (Currency)

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Asia gets greater weighting

Article Abstract:

Asia's bond markets have received a greater weighting in JP Morgan's Emerging Markets Bond Index Global (EMBI). Increased asset allocation to Asian bonds in the EMBI is expected to raise investment in regional debt markets. However, the benefits of the EMBI move are likely to be limited since Asia's debt markets have already posted a strong rally in the first half of 1999. China has a weighting of 1.6% and Malaysia a weighting of 2.5% in the EMBI, while Thailand is at 0.4%, the Philippines at 2.9% and Korea at 7.5%.

Market information - general, Financial management, Asia, Investment Advice, Securities Brokerage, Bond Brokerage, Securities Investment Advice, Reports, Statistics, Securities industry, Securities, Investment advisers, Government securities, Bond brokers, J.P. Morgan Securities Inc.

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