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Inside ASEAN H2 Summit: Indonesia
Navigating the new normal
IN-PERSON EVENT | AYANA Midplaza Jakarta
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Inside ASEAN returns to Jakarta on 21 November!
Find out what key challenges and opportunities lie ahead for Indonesia and how global credit trends
will impact the credit landscape in Southeast Asia.
Agenda
Macro sovereign trends for Indonesia: Navigating the new macro normal
- How will global economic changes affect Indonesia's credit profile?
- How will policy priorities evolve amid domestic political and geopolitical shifts?
- What key structural challenges will Indonesia encounter in 2025 and beyond?
Energy transition in Indonesia’s power sector
- How can Indonesia speed up its power sector decarbonization?
- How can geothermal energy play a more prominent role in Indonesia's energy transition?
- What risks and opportunities do plans to export power to Singapore present?
Coffee break
Indonesian corporates: Forging ahead in a time of uncertainty
- What are Moody's views on key sectors over the next year?
- How will declining US interest rates affect funding conditions?
- Does the new administration pose greater regulatory risk for rated issuers?
Indonesian Financial Institutions: Navigating risks and opportunities ahead
- What are the main cyclical and structural risks facing Indonesian financial institutions?
- Where do growth opportunities lie for Indonesia's public and private banks?
- How will interest rate cuts affect the profitability?
Transition finance in Indonesia
- Why does transition finance matter for Indonesia?
- What are the major challenges?
Closing remarks
Networking lunch
Venue Details:
Venue Name: AYANA Midplaza Jakarta
Address: Jl. Jenderal Sudirman Kav. 10-11 Jakarta Pusat, Jakarta 10220, Indonesia
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James Flitton is a Senior Vice President - Head of Relationship Management for Moody’s for South and South East Asia.
Based in Singapore, he leads and manages the business development and account management groups for the region.
James is responsible for growing Moody’s coverage and revenue in Asean and India, by developing relationships with new issuers in existing markets, penetrating new markets, and strengthening and expanding relationships with existing issuers and intermediaries.
James has also worked as a Vice President in Moody’s London office, where he was in charge of the UK and Ireland portfolio of customers. James holds a BA (Honours) in European Languages & Business from the University of Leeds, and an LEA from the University of Provence. James also holds an executive education diploma from the Said Business School at the University of Oxford.
Deborah Tan is a Vice President within Moody’s Credit Strategy and Standards Group. Based in Singapore, she leads Moody’s thematic research for India, Southeast Asia and Australia with a focus on producing forward-looking macro-credit insights and outlooks. Her responsibilities also include designing scenario analysis to test the resilience of Moody’s rating methodologies and assessing the impact of these scenarios.
Prior to joining Moody’s in 2019, Deborah was a macroeconomist at BHP Billiton where she covered both India and the US and led the Group’s interest rate, FX and long-term growth projections for key markets. She has also worked at the Monetary Authority of Singapore and PWC.
Deborah holds a master’s in Economics from the University of Cambridge and a bachelor of science in Economics from University College London.
Martin Petch is a Vice President – Senior Credit Officer with Moody’s Sovereign Risk Group. Based in Singapore, he covers a portfolio of sovereign credits in the Asia Pacific region – including China, Australia, Hong Kong - as well as credits in Central Asia and the Caucasus. Martin joined Moody’s in 2017, after working as the Manager of Economic Analysis and Research with BHP Billiton covering its key commodity markets, China, Japan and India, economies in the South East Asian region, and the major advanced economies.
Martin also held various positions with the Australian Commonwealth Treasury, the Commonwealth Bank and the Australian Industry Group.
Martin was a graduate in Economics from the University of Western Australia.
Hendra Soetjipto Tan is a prominent figure in the energy industry. Currently, he serves as the Group Chief Execuve Officer of Star Energy Geothermal, overseeing Star Energy Geothermal Salak, Ltd, Star Energy Geothermal Darajat II, Limited and Star Energy Geothermal (Wayang Windu) Limited (“Group”). His leadership is central to the company’s growth.
He strives to establish Star Energy Geothermal Group as the global leader in geothermal energy producon, with a targeted capacity expansion to 1,200 MW by 2028. During his 20-year tenure at the group, he has effecvely secured over US$ 5 billion in bond and project financing for various geothermal iniaves, including refinancing, acquisions, and development projects at Star Energy. Hendra Tan’s commitment to sustainable energy plays a vital role in Indonesia’s transion away from fossil fuels.
Hendra leads Star Energy in its mission to advance Indonesia and the world toward more responsible energy pracces. Their journey toward brighter tomorrows begins by empowering their most powerful asset: the people. Hendra firmly believes that when they succeed, so do we.
Hendra Tan holds a master’s degree in engineering management from Cornell University. Before joining the group, Hendra accumulated over 20 years of experience in the finance industry. His previous roles included posions at PT. Nusantara Capital and PT. Bahana Securies. Addionally, he worked as an analyst at PT. Deutsche Morgan Grenfell, a securies arm of Deutsche Bank, and gained experse in property sector maters with PT. Procon Indah/Jones Wooton.
Outside of work, he enjoys running, jogging, biking, praccing Yoga, and construcng sophiscated Lego models.
Michael is the CFO and a founder of Gurīn Energy, a leading Asian renewable energy developer with project and operations in Indonesia, Singapore, Philippines, Thailand, Japan and South Korea. Gurīn Energy has a portfolio of over 6GW of projects and is backed by Infratil, a global infrastructure investor from New Zealand.
Michael has been involved for over 15 years developing and financing clean energy projects in Asia. As CFO of Gurin Energy, he is responsible for maintaining high standards of financial management and financial reporting, financing projects as well as administration, compliance, regulation and risk management. Michael worked for nearly two decades in investment banking, where he was directly responsible for 150 transactions raising over USD30 billion, in both the public and the private markets to corporate and government entities.
He holds a First-Class M.A. degree from the University of St Andrews and is a qualified Chartered Accountant.
Spencer Ng is a Vice President – Senior Credit Officer in Moody’s Public, Project & Infrastructure Finance team. Based in Singapore, Spencer is responsible for project finance and infrastructure credits, including power utilities, renewables and airports in South and Southeast Asia.
Prior to joining Moody’s in 2007, Spencer worked for Ernst & Young Transactions Advisory Services in their Project Finance team. Spencer has also held various analytical and accounting roles at ANZ Bank, JP Morgan and State Street Australia.
Spencer holds a Bachelor of Economics and a Master of Commerce from the University of New South Wales. He is also a CFA charterholder.
Erman Zhang is an Analyst in Moody’s Project and Infrastructure Finance Group. Based in Singapore, she covers project and infrastructure credits in South and Southeast Asia.
Erman has several years of experience in infrastructure and asset finance. Prior to joining Moody’s, she worked in Mizuho Bank’s Singapore branch, covering a portfolio of major shipping companies. Erman’s previous roles included being a manager at the Singapore branch of bank of China, covering infrastructure and project finance in Southeast Asia, and being a corporate relationship manager at HSBC China.
Erman holds an MBA from the Nanyang Technology University in Singapore, a Master of Science in Economics from the Hong Kong University of Science and Technology and a Bachelor of Arts in Economics from the Sun Yat-Sen University in China. Erman is also a CFA charterholder.
Jacintha Poh is an Associate Managing Director for the Corporate Finance Group at Moody's, based in Singapore. She leads a team of analysts who are responsible for Moody's nonfinancial corporate ratings and research in the South and Southeast Asia region.
Jacintha joined Moody's in 2012 taking several Lead Analyst roles, where she demonstrated her ability to execute complex analyses across a diverse range of sectors, including real estate, hospitality, and investment holding companies.
Before joining Moody's, Jacintha worked for Lion Global Investors, where she served as a Credit Analyst on the Fixed Income team. Jacintha holds an honors BSc in Accounting and Finance from the University of London.
Maisam Hasnain is a Vice President - Senior Credit Officer in Moody’s Corporate Finance Group.
Based in Singapore, Maisam covers a portfolio of companies across the industrial, mining and plantation sectors in Southeast Asia.
Prior to his move to Singapore in 2017, Maisam spent four years in Moody’s Hong Kong office covering a broad array of sectors, including telecommunications, communications infrastructure, building materials, and metals and mining.
Maisam joined Moody’s in 2010 and started as an Associate in Moody’s Regional Product Strategy team, which is responsible for managing all aspects of Moody’s research and data service offerings, including new business initiatives.
Maisam holds a double major in Economics and Finance, and a minor in Arabic from The University of Hong Kong. He is also a CFA charterholder.
Rachel Chua is a Vice President and Senior Analyst with the Corporate Finance Group in Singapore. She covers a portfolio of investment grade and high yield energy companies across the Oil and Gas, and Chemical sectors in South and Southeast Asia. In addition, her coverage also extends to Singapore real estate investment trusts.
Before joining Moody’s in 2012, Rachel was with KPMG Corporate Finance, where she advised clients on financing infrastructure transactions.
Rachel holds an MSc in Accounting and Finance from the London School of Economics and Political Science.
Yu Sheng Tay is an Assistant Vice President - Analyst with Moody’s Corporate Finance Group.
Based in Singapore, he covers a portfolio of real estate, gaming and consumer products in Southeast Asia. Yu Sheng joined Moody’s in 2018 as an Associate Analyst and previously covered a range of industries including metals & mining, technology, and property.
Prior to joining Moody’s, Yu Sheng worked as a credit analyst, covering the construction and logistics sectors. Yu Sheng holds a postgraduate degree from the London School of Economics and Political Science.
Henky Sulistyo serves as Chief Risk Officer at PT Bank CIMB Niaga Tbk, headquartered in Jakarta, Indonesia.
Preceding to this position, Mr. Sulistyo was Chief Risk Officer at PT Bank UOB Indonesia, Chief Risk Officer at PT Bank Maybank Indonesia Tbk, Head Risk Management at PT Bank DBS Indonesia, and several senior positions in Risk Management and Corporate Treasury covering Asia Region in DBS Bank and American Express Bank based in Singapore for almost 10 years.
Mr. Sulistyo received an MBA from LaTrobe University Australia and an FRM certified from GARP.
Patrick Winsbury is the Associate Managing Director of Moody’s Corporate Finance and Financial Institutions Groups in Sydney, covering the Australian and New Zealand markets. Patrick moved to Sydney in 2006, following postings in New York and Singapore with Moody’s Financial Institutions Group. He served as the Representative Director for Moody’s Singapore office from 1995-1999, having previously worked in Moody’s Hong Kong and London offices.
Patrick holds a Masters degree from the Cranfield School of Management, a B.A.in European Studies from the University of Bath and a Mineur from l’Université deMontréal.
Eugene Tarzimanov is a Senior Vice President in the Financial Institutions Group in Asia. Based in Singapore, he is the Lead Analyst for banks in Southeast Asia, including Singapore, Malaysia, Vietnam, Sri Lanka and Bangladesh.
Eugene is also responsible for coordinating banking research across Asia Pacific, and actively represents Moody’s to regulators, investors and the media on analytical and methodological views. Eugene moved to Singapore from Moody’s Moscow office, where he covered the largest banks in Russia, as well as financial institutions in Europe and the Middle East.
Before joining Moody’s in early 2009, Eugene held senior positions during his five years with Standard & Poor’s, where he was responsible for the analysis of banks in Europe and the Middle East. He has also worked at the CEO’s office of Bank VTB, where he was responsible for inhouse research.
Eugene holds an MBA in financial management from New York’s Pace University, and a BSc in international economics from Moscow’s Finance Academy.
Clarabelle Tan is an Analyst with Moody’s Financial Institutions Group.
Based in Singapore, she is responsible for Moody’s portfolio of banks and non-bank financial institutions in Indonesia and Philippines.
Prior to joining Moody’s, Clarabelle was a Senior Associate with PricewaterhouseCoopers Singapore in the Financial Services Assurance team, covering clients in the asset wealth management, venture capital and banking industries.
Clarabelle holds a Bachelor of Business Administration (Honors), Accountancy from the National University of Singapore.
In his role, John is involved in integrating ESG into Moody’s credit rating research and is the point person for Moody’s ESG outreach in the Asia-Pacific region. He is also responsible for publishing thematic and issuer-specific research on ESG risks relevant to credit analysis.
Prior to joining Moody’s, John was CEO of Visiondom ESG, an independent ESG consultancy in China, which helped institutional investors integrate ESG into their investment process. He also worked as an ESG specialist with Fidelity International’s Asia Stewardship and Sustainable Investing team, focusing on the Greater China and Oceania markets for five years. At Fidelity, he was closely involved in promoting ESG best practices in Asia and ESG integration, and had a special focus on corporate governance and carbon trading.
John holds a Bachelor of Science in Economics from Singapore Management University and is a CFA Charterholder.
Hendra Soetjipto Tan is a prominent figure in the energy industry. Currently, he serves as the Group Chief Execuve Officer of Star Energy Geothermal, overseeing Star Energy Geothermal Salak, Ltd, Star Energy Geothermal Darajat II, Limited and Star Energy Geothermal (Wayang Windu) Limited (“Group”). His leadership is central to the company’s growth.
He strives to establish Star Energy Geothermal Group as the global leader in geothermal energy producon, with a targeted capacity expansion to 1,200 MW by 2028. During his 20-year tenure at the group, he has effecvely secured over US$ 5 billion in bond and project financing for various geothermal iniaves, including refinancing, acquisions, and development projects at Star Energy. Hendra Tan’s commitment to sustainable energy plays a vital role in Indonesia’s transion away from fossil fuels.
Hendra leads Star Energy in its mission to advance Indonesia and the world toward more responsible energy pracces. Their journey toward brighter tomorrows begins by empowering their most powerful asset: the people. Hendra firmly believes that when they succeed, so do we.
Hendra Tan holds a master’s degree in engineering management from Cornell University. Before joining the group, Hendra accumulated over 20 years of experience in the finance industry. His previous roles included posions at PT. Nusantara Capital and PT. Bahana Securies. Addionally, he worked as an analyst at PT. Deutsche Morgan Grenfell, a securies arm of Deutsche Bank, and gained experse in property sector maters with PT. Procon Indah/Jones Wooton.
Outside of work, he enjoys running, jogging, biking, praccing Yoga, and construcng sophiscated Lego models.
Henky Sulistyo serves as Chief Risk Officer at PT Bank CIMB Niaga Tbk, headquartered in Jakarta, Indonesia.
Preceding to this position, Mr. Sulistyo was Chief Risk Officer at PT Bank UOB Indonesia, Chief Risk Officer at PT Bank Maybank Indonesia Tbk, Head Risk Management at PT Bank DBS Indonesia, and several senior positions in Risk Management and Corporate Treasury covering Asia Region in DBS Bank and American Express Bank based in Singapore for almost 10 years.
Mr. Sulistyo received an MBA from LaTrobe University Australia and an FRM certified from GARP.
Michael is the CFO and a founder of Gurīn Energy, a leading Asian renewable energy developer with project and operations in Indonesia, Singapore, Philippines, Thailand, Japan and South Korea. Gurīn Energy has a portfolio of over 6GW of projects and is backed by Infratil, a global infrastructure investor from New Zealand.
Michael has been involved for over 15 years developing and financing clean energy projects in Asia. As CFO of Gurin Energy, he is responsible for maintaining high standards of financial management and financial reporting, financing projects as well as administration, compliance, regulation and risk management. Michael worked for nearly two decades in investment banking, where he was directly responsible for 150 transactions raising over USD30 billion, in both the public and the private markets to corporate and government entities.
He holds a First-Class M.A. degree from the University of St Andrews and is a qualified Chartered Accountant.
Jacintha Poh is an Associate Managing Director for the Corporate Finance Group at Moody's, based in Singapore. She leads a team of analysts who are responsible for Moody's nonfinancial corporate ratings and research in the South and Southeast Asia region.
Jacintha joined Moody's in 2012 taking several Lead Analyst roles, where she demonstrated her ability to execute complex analyses across a diverse range of sectors, including real estate, hospitality, and investment holding companies.
Before joining Moody's, Jacintha worked for Lion Global Investors, where she served as a Credit Analyst on the Fixed Income team. Jacintha holds an honors BSc in Accounting and Finance from the University of London.
Patrick Winsbury is the Associate Managing Director of Moody’s Corporate Finance and Financial Institutions Groups in Sydney, covering the Australian and New Zealand markets. Patrick moved to Sydney in 2006, following postings in New York and Singapore with Moody’s Financial Institutions Group. He served as the Representative Director for Moody’s Singapore office from 1995-1999, having previously worked in Moody’s Hong Kong and London offices.
Patrick holds a Masters degree from the Cranfield School of Management, a B.A.in European Studies from the University of Bath and a Mineur from l’Université deMontréal.
Eugene Tarzimanov is a Senior Vice President in the Financial Institutions Group in Asia. Based in Singapore, he is the Lead Analyst for banks in Southeast Asia, including Singapore, Malaysia, Vietnam, Sri Lanka and Bangladesh.
Eugene is also responsible for coordinating banking research across Asia Pacific, and actively represents Moody’s to regulators, investors and the media on analytical and methodological views. Eugene moved to Singapore from Moody’s Moscow office, where he covered the largest banks in Russia, as well as financial institutions in Europe and the Middle East.
Before joining Moody’s in early 2009, Eugene held senior positions during his five years with Standard & Poor’s, where he was responsible for the analysis of banks in Europe and the Middle East. He has also worked at the CEO’s office of Bank VTB, where he was responsible for inhouse research.
Eugene holds an MBA in financial management from New York’s Pace University, and a BSc in international economics from Moscow’s Finance Academy.
Martin Petch is a Vice President – Senior Credit Officer with Moody’s Sovereign Risk Group. Based in Singapore, he covers a portfolio of sovereign credits in the Asia Pacific region – including China, Australia, Hong Kong - as well as credits in Central Asia and the Caucasus. Martin joined Moody’s in 2017, after working as the Manager of Economic Analysis and Research with BHP Billiton covering its key commodity markets, China, Japan and India, economies in the South East Asian region, and the major advanced economies.
Martin also held various positions with the Australian Commonwealth Treasury, the Commonwealth Bank and the Australian Industry Group.
Martin was a graduate in Economics from the University of Western Australia.
Maisam Hasnain is a Vice President - Senior Credit Officer in Moody’s Corporate Finance Group.
Based in Singapore, Maisam covers a portfolio of companies across the industrial, mining and plantation sectors in Southeast Asia.
Prior to his move to Singapore in 2017, Maisam spent four years in Moody’s Hong Kong office covering a broad array of sectors, including telecommunications, communications infrastructure, building materials, and metals and mining.
Maisam joined Moody’s in 2010 and started as an Associate in Moody’s Regional Product Strategy team, which is responsible for managing all aspects of Moody’s research and data service offerings, including new business initiatives.
Maisam holds a double major in Economics and Finance, and a minor in Arabic from The University of Hong Kong. He is also a CFA charterholder.
Spencer Ng is a Vice President – Senior Credit Officer in Moody’s Public, Project & Infrastructure Finance team. Based in Singapore, Spencer is responsible for project finance and infrastructure credits, including power utilities, renewables and airports in South and Southeast Asia.
Prior to joining Moody’s in 2007, Spencer worked for Ernst & Young Transactions Advisory Services in their Project Finance team. Spencer has also held various analytical and accounting roles at ANZ Bank, JP Morgan and State Street Australia.
Spencer holds a Bachelor of Economics and a Master of Commerce from the University of New South Wales. He is also a CFA charterholder.
Rachel Chua is a Vice President and Senior Analyst with the Corporate Finance Group in Singapore. She covers a portfolio of investment grade and high yield energy companies across the Oil and Gas, and Chemical sectors in South and Southeast Asia. In addition, her coverage also extends to Singapore real estate investment trusts.
Before joining Moody’s in 2012, Rachel was with KPMG Corporate Finance, where she advised clients on financing infrastructure transactions.
Rachel holds an MSc in Accounting and Finance from the London School of Economics and Political Science.
Deborah Tan is a Vice President within Moody’s Credit Strategy and Standards Group. Based in Singapore, she leads Moody’s thematic research for India, Southeast Asia and Australia with a focus on producing forward-looking macro-credit insights and outlooks. Her responsibilities also include designing scenario analysis to test the resilience of Moody’s rating methodologies and assessing the impact of these scenarios.
Prior to joining Moody’s in 2019, Deborah was a macroeconomist at BHP Billiton where she covered both India and the US and led the Group’s interest rate, FX and long-term growth projections for key markets. She has also worked at the Monetary Authority of Singapore and PWC.
Deborah holds a master’s in Economics from the University of Cambridge and a bachelor of science in Economics from University College London.
In his role, John is involved in integrating ESG into Moody’s credit rating research and is the point person for Moody’s ESG outreach in the Asia-Pacific region. He is also responsible for publishing thematic and issuer-specific research on ESG risks relevant to credit analysis.
Prior to joining Moody’s, John was CEO of Visiondom ESG, an independent ESG consultancy in China, which helped institutional investors integrate ESG into their investment process. He also worked as an ESG specialist with Fidelity International’s Asia Stewardship and Sustainable Investing team, focusing on the Greater China and Oceania markets for five years. At Fidelity, he was closely involved in promoting ESG best practices in Asia and ESG integration, and had a special focus on corporate governance and carbon trading.
John holds a Bachelor of Science in Economics from Singapore Management University and is a CFA Charterholder.
Yu Sheng Tay is an Assistant Vice President - Analyst with Moody’s Corporate Finance Group.
Based in Singapore, he covers a portfolio of real estate, gaming and consumer products in Southeast Asia. Yu Sheng joined Moody’s in 2018 as an Associate Analyst and previously covered a range of industries including metals & mining, technology, and property.
Prior to joining Moody’s, Yu Sheng worked as a credit analyst, covering the construction and logistics sectors. Yu Sheng holds a postgraduate degree from the London School of Economics and Political Science.
Clarabelle Tan is an Analyst with Moody’s Financial Institutions Group.
Based in Singapore, she is responsible for Moody’s portfolio of banks and non-bank financial institutions in Indonesia and Philippines.
Prior to joining Moody’s, Clarabelle was a Senior Associate with PricewaterhouseCoopers Singapore in the Financial Services Assurance team, covering clients in the asset wealth management, venture capital and banking industries.
Clarabelle holds a Bachelor of Business Administration (Honors), Accountancy from the National University of Singapore.
Erman Zhang is an Analyst in Moody’s Project and Infrastructure Finance Group. Based in Singapore, she covers project and infrastructure credits in South and Southeast Asia.
Erman has several years of experience in infrastructure and asset finance. Prior to joining Moody’s, she worked in Mizuho Bank’s Singapore branch, covering a portfolio of major shipping companies. Erman’s previous roles included being a manager at the Singapore branch of bank of China, covering infrastructure and project finance in Southeast Asia, and being a corporate relationship manager at HSBC China.
Erman holds an MBA from the Nanyang Technology University in Singapore, a Master of Science in Economics from the Hong Kong University of Science and Technology and a Bachelor of Arts in Economics from the Sun Yat-Sen University in China. Erman is also a CFA charterholder.