Join us to take the local view of global credit markets and gain unique insights into defaults.
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Agenda15.05 - 15.25HKT
2024 Credit Trends and Macro-Sovereign Outlook for APAC
- How will the negative outlook on China affect APAC?
- What is the outlook for inflation and interest rates across the region?
- How prepared are Asian regulators for disruptive technologies?
- How will geopolitics, in particular US-China tensions, affect the rest of the region?
15.25 - 15.40HKT15.40 - 16.25HKTCredit Conditions: How will APAC credit fare under tight financial conditions and weaker growth in China?
- How are APAC economies managing inflation and monetary policy, and what is the impact across sectors?
- How are China’s slowing growth, debt sustainability issues, and property downsizing affecting APAC financial institutions and corporations? Are there any winners?
- What progress has the region made on the carbon transition, and how does it intersect with concerns over energy security?
- How are geopolitical factors affecting issuers’ cross-border activities and exposures?
Analysts from across the rating groups will be available during the Q&A session
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SpeakersPhilipp Lotter Managing Director, Global Ratings & Research Moody's Ratings
Gary Lau Managing Director, Corporate Finance Moody's Ratings
Gong Cheng Chief Credit Officer (APAC) Moody's Ratings
Gene Fang Associate Managing Director, Sovereign Risk Moody's Ratings
Chen Huang Associate Managing Director, Financial Institutions Moody's Ratings
Vikash Halan Managing Director, Corporate Finance Moody's Ratings
Alka Anbarasu Associate Managing Director, Financial Institutions Moody's Ratings
Lina Choi Associate Managing Director, Corporate Finance Moody's Ratings
Jorge Valez Senior Vice President, Sovereign Risk Moody’s Ratings
Clara Lau Senior Vice President/ RPO, Credit Strategy & Standards Moody's Ratings
Ivy Poon Vice President - Senior Credit Officer, Project & Infrastructure Finance Moody's Ratings
Abhishek Tyagi Vice President – Senior Credit Officer, Project & Infrastructure Finance Moody's Ratings
John Wang Vice President – Senior Analyst, Sustainable Finance Thought Leadership Moody's Ratings
Explore Moody’s key credit themes for 2024 and find out what they mean for the region
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Philipp Lotter is Managing Director – Global Ratings and Research,based in London. He is responsible for the development of MIS ratings and research opinions for global fundamental and structured finance ratings groups,and the delivery of services to issuers and the market.
Prior to assuming this role in November 2019, he was Global Head and before that EMEA Co-Head of the Corporate Finance Group.
Philipp has spent many years of his career abroad with strong Emerging and Developing Markets coverage experience. He spent more than 5 years in Asia, where he he ldthe dual role of Country Manager for Moody’s office in Singapore, as well as Managing Director of the Corporate Finance Group responsible for companies across Southeast Asia and India.
Before that, Philipp spent more than 3 years in Dubai, United Arab Emirates,where he was responsible for setting up the Moody’s office in Dubai and for the ratings of Middle Eastern corporate issuers across all sectors, including Islamic finance. Having joined Moody’s in London in 2003, Philipp started as an analyst covering utilities and the oil & gas industry.
Before joining Moody’s, Philipp spent 3 years in rating advisory at Citigroup.His career has also included positions at Dresdner Kleinwort Wasserstein in London and Frankfurt in rating advisory, bond and credit research, and leveraged financing. Philipp holds a Diploma from the Frankfurt School of Finance & Management. He has also attended international semesters at the European Business School in London and University College Dublin.
Gene Fang is an Associate Managing Director in the Sovereign and sub-sovereign Ratings Group in Asia. Based in Singapore, he manages the teams responsible for sovereign credit ratings in the Asia Pacific region and credit research on Chinese regional- and local governments.
Before joining Moody’s, Gene worked as an investment banker, covering financial institutions for J.P. Morgan and Citigroup in Hong Kong and Singapore. In this role, he managed client relationships across Asia and advised on debt, equity, and M&A transactions. Gene graduated from Columbia University in political science. He also holds an MBA from Harvard Business School and a Master in Public Policy from Harvard University’s Kennedy School of Government.
Gong Cheng is Moody’s Chief Credit Officer for Asia-Pacific (APAC). Based in Hong Kong SAR, China, Gong is also a Managing Director for the agency’s APAC Credit Strategy and Research Group. He is responsible for developing Moody’s views on emerging risks, conducting cross-sector macro research and aligning credit views across various industry sectors in the region. He chairs the APAC Credit Council and is a member of Moody’s Macroeconomic Board, which sets the agency’s global forecasts that inform rating assessments.
Prior to joining Moody’s, Gong had worked extensively in the public sector since 2010, including the Bank for International Settlements (BIS), European Stability Mechanism (ESM) and Banque de France, the French central bank. He led policy and research work on green finance, Asian economies, crisis resolution and sovereign debt. He was a member of the Central Banks and Supervisors’ Network for Greening the Financial System and led working groups on green and transition finance and central banks’ net-zero investments. He had also served as an official representative of the ESM and BIS in the G20 International Financial Architecture Working Group, dealing with international issues such as official-sector lending, sovereign debt restructurings, global imbalances and reforms in the international monetary system.
Gong holds a PhD in economics from Sciences Po Paris and master's degrees in finance and international political economy from Sciences Po Paris and London School of Economics. He has published extensively on topics such as net zero transition, climate finance, sovereign debt restructuring and fiscal and monetary policies.
Gene Fang is an Associate Managing Director in the Sovereign and sub-sovereign Ratings Group in Asia. Based in Singapore, he manages the teams responsible for sovereign credit ratings in the Asia Pacific region and credit research on Chinese regional- and local governments.
Before joining Moody’s, Gene worked as an investment banker, covering financial institutions for J.P. Morgan and Citigroup in Hong Kong and Singapore. In this role, he managed client relationships across Asia and advised on debt, equity, and M&A transactions. Gene graduated from Columbia University in political science. He also holds an MBA from Harvard Business School and a Master in Public Policy from Harvard University’s Kennedy School of Government.
Jorge R. Valez is a Senior Vice President at Moody’s Sovereign Risk Group based in London. He serves as lead analyst for a portfolio of sovereigns and multilateral development banks in the EMEA region. He is also a global lead in analytical projects aimed at supporting rating accuracy and thought leadership across sovereign credit risks.
Jorge joined Moody’s in 2014 in the Financial Institutions Group. He also worked at Credit Strategy and Research leading the team responsible for banking projections and stress tests globally, as well as foundational research on ratings and capital markets.
Prior to joining Moody’s, Jorge worked for a bank as a macroeconomist responsible for forecasting and scenario analysis, and as a university lecturer in Macroeconomics and Econometrics.
Jorge is a PhD in Econometrics and holds degrees in Economics and in Business Administration.
Clara Lau is the Group Credit Officer, Corporate Finance, Asia Pacific, based in Hong Kong. She is responsible for overseeing the quality and accuracy of corporate ratings in the region. She also coordinates the development of credit policies, rating methodologies and analytical initiatives, and ensures consistency in their application. Lau has extensive rating experience with a major focus on real estate companies, utilities and conglomerates. Before joining Moody’s in 1997, Lau was the Head of Credit with Credit Suisse in Hong Kong, responsible for assessing and sanctioning corporate credit in North Asia. She had also worked with HSBC in Hong Kong, Singapore and the UK. Lau has a Bachelor of Social Science, majoring in Economics, from the University of Hong Kong and is a CFA Charter holder.
Gary Lau is the Managing Director for the Corporate Finance Group in Hong Kong. Gary manages analytical teams in Hong Kong, covering corporate ratings in North Asia (ex-Japan). He has extensive experience with Moody’s in analytical and management positions with responsibilities across different industries and geographies. He has been with Moody’s since 1998.
Before joining Moody’s, Gary worked for Barclays Bank Plc and Bank of America in the Financial Institutions and Corporate Banking Divisions.
He holds an MBA and a Bachelor of Social Science, both from The Chinese University of Hong Kong.
Chen Huang is an Associate Managing Director within Moody’s Financial Institutions Group. Based in Hong Kong, she manages teams of analysts covering the ratings and research of Asian insurers and Chinese banks. Chen joined Moody's in December 2020 as a Senior Vice President from Autonomous Research/Sanford C. Bernstein, where she primarily covered Chinese banks as a partner before moving to her most recent position as a consultant in China macrofinancial research. Previously, she worked at CLSA (now CITIC CLSA) as a senior analyst covering Chinese banks and non-bank financial institutions. Earlier in her career, she worked as a senior auditor at PricewaterhouseCoopers and had a brief stint at Caijing Magazine (now Caixin).Chen received her Master of Public Administration from Syracuse University in the U.S and Bachelor of Arts in Economics from the University of International Business and Economics in China.
Lina Choi is an Associate Managing Director with the Corporate Finance Group for Moody’s Investors Service HK Ltd. She covers a portfolio of Chinese corporates in various sectors, including Internet, technology, food and beverage.
Before joining Moody’s, Lina worked as a senior investment analyst for AllianceBernstein Holdings LP, a US asset management company. She covered Chinese equities in the telecoms, media and technology sectors. Lina has also worked as an Executive Director at Morgan Stanley’s Equity Research Division, overseeing the Asian telecommunications industry.
Lina has an BA in Economics from the University of Chicago. She is a CFA charter holder.
Ivy Poon is a Vice President – Senior Credit Officer with Moody’s in Hong Kong. She covers corporate ratings in a portfolio of power and gas utilities companies and conglomerates in Asia Pacific.
Prior to joining Moody’s, Ivy worked for KBC Bank N.V., as a credit assistant manager and a senior marketing officer.
Ivy holds a Bachelor of Commerce from McMaster University and a Postgraduate Diploma in Professional Accounting from the Chinese University of Hong Kong. She is also an affiliate member of CPA.
Gene Fang is an Associate Managing Director in the Sovereign and sub-sovereign Ratings Group in Asia. Based in Singapore, he manages the teams responsible for sovereign credit ratings in the Asia Pacific region and credit research on Chinese regional- and local governments.
Before joining Moody’s, Gene worked as an investment banker, covering financial institutions for J.P. Morgan and Citigroup in Hong Kong and Singapore. In this role, he managed client relationships across Asia and advised on debt, equity, and M&A transactions. Gene graduated from Columbia University in political science. He also holds an MBA from Harvard Business School and a Master in Public Policy from Harvard University’s Kennedy School of Government.
Philipp Lotter is Managing Director – Global Ratings and Research,based in London. He is responsible for the development of MIS ratings and research opinions for global fundamental and structured finance ratings groups,and the delivery of services to issuers and the market.
Prior to assuming this role in November 2019, he was Global Head and before that EMEA Co-Head of the Corporate Finance Group.
Philipp has spent many years of his career abroad with strong Emerging and Developing Markets coverage experience. He spent more than 5 years in Asia, where he he ldthe dual role of Country Manager for Moody’s office in Singapore, as well as Managing Director of the Corporate Finance Group responsible for companies across Southeast Asia and India.
Before that, Philipp spent more than 3 years in Dubai, United Arab Emirates,where he was responsible for setting up the Moody’s office in Dubai and for the ratings of Middle Eastern corporate issuers across all sectors, including Islamic finance. Having joined Moody’s in London in 2003, Philipp started as an analyst covering utilities and the oil & gas industry.
Before joining Moody’s, Philipp spent 3 years in rating advisory at Citigroup.His career has also included positions at Dresdner Kleinwort Wasserstein in London and Frankfurt in rating advisory, bond and credit research, and leveraged financing. Philipp holds a Diploma from the Frankfurt School of Finance & Management. He has also attended international semesters at the European Business School in London and University College Dublin.
Gary Lau is the Managing Director for the Corporate Finance Group in Hong Kong. Gary manages analytical teams in Hong Kong, covering corporate ratings in North Asia (ex-Japan). He has extensive experience with Moody’s in analytical and management positions with responsibilities across different industries and geographies. He has been with Moody’s since 1998.
Before joining Moody’s, Gary worked for Barclays Bank Plc and Bank of America in the Financial Institutions and Corporate Banking Divisions.
He holds an MBA and a Bachelor of Social Science, both from The Chinese University of Hong Kong.
Gong Cheng is Moody’s Chief Credit Officer for Asia-Pacific (APAC). Based in Hong Kong SAR, China, Gong is also a Managing Director for the agency’s APAC Credit Strategy and Research Group. He is responsible for developing Moody’s views on emerging risks, conducting cross-sector macro research and aligning credit views across various industry sectors in the region. He chairs the APAC Credit Council and is a member of Moody’s Macroeconomic Board, which sets the agency’s global forecasts that inform rating assessments.
Prior to joining Moody’s, Gong had worked extensively in the public sector since 2010, including the Bank for International Settlements (BIS), European Stability Mechanism (ESM) and Banque de France, the French central bank. He led policy and research work on green finance, Asian economies, crisis resolution and sovereign debt. He was a member of the Central Banks and Supervisors’ Network for Greening the Financial System and led working groups on green and transition finance and central banks’ net-zero investments. He had also served as an official representative of the ESM and BIS in the G20 International Financial Architecture Working Group, dealing with international issues such as official-sector lending, sovereign debt restructurings, global imbalances and reforms in the international monetary system.
Gong holds a PhD in economics from Sciences Po Paris and master's degrees in finance and international political economy from Sciences Po Paris and London School of Economics. He has published extensively on topics such as net zero transition, climate finance, sovereign debt restructuring and fiscal and monetary policies.
Gene Fang is an Associate Managing Director in the Sovereign and sub-sovereign Ratings Group in Asia. Based in Singapore, he manages the teams responsible for sovereign credit ratings in the Asia Pacific region and credit research on Chinese regional- and local governments.
Before joining Moody’s, Gene worked as an investment banker, covering financial institutions for J.P. Morgan and Citigroup in Hong Kong and Singapore. In this role, he managed client relationships across Asia and advised on debt, equity, and M&A transactions. Gene graduated from Columbia University in political science. He also holds an MBA from Harvard Business School and a Master in Public Policy from Harvard University’s Kennedy School of Government.
Chen Huang is an Associate Managing Director within Moody’s Financial Institutions Group. Based in Hong Kong, she manages teams of analysts covering the ratings and research of Asian insurers and Chinese banks. Chen joined Moody's in December 2020 as a Senior Vice President from Autonomous Research/Sanford C. Bernstein, where she primarily covered Chinese banks as a partner before moving to her most recent position as a consultant in China macrofinancial research. Previously, she worked at CLSA (now CITIC CLSA) as a senior analyst covering Chinese banks and non-bank financial institutions. Earlier in her career, she worked as a senior auditor at PricewaterhouseCoopers and had a brief stint at Caijing Magazine (now Caixin).Chen received her Master of Public Administration from Syracuse University in the U.S and Bachelor of Arts in Economics from the University of International Business and Economics in China.
Vikash Halan is a Managing Director and team leader for Moody’s Corporate Finance Group, based in Singapore. In this role, he manages a team of rating analysts covering non-financial corporates in Asia Pacific excluding greater China.
Vikash joined Moody’s in 2011 and, prior to becoming a team leader, spent almost a decade as a lead analyst covering a range of sectors, including oil and gas, chemicals, shipping, conglomerates, real estate and investment holding companies.
Before joining Moody’s, Vikash worked for J.P. Morgan in Hong Kong as a capital markets and ratings advisor for clients in the Asia-Pacific region. He started his career as a chartered accountant with the Indian firm, BDO Lodha.
Vikash holds post graduate diploma in Business management form Xavier Institute of Management.
Alka Anbarasu is an Associate Managing Director in the Financial Institutions Group in Asia. Based in Singapore, Alka is responsible for Moody's analytical teams covering ratings and research on banks, insurance companies, and non-bank financial institutions in Japan, ASEAN and Indian Sub-continent. Alka also coordinates the Global Financial Institution Group's efforts on Environmental, Social and Governance (ESG) scoring and research. Alka is a regular speaker at Moody's market briefings, external conferences podcasts and broadcast media. She is very active in promoting Diversity, Equity and Inclusion (DE&I) initiatives and is a passionate impact leader for Moody's Community Impact initiatives in Asia.
Alka joined Moody's in 2013 and over the years has led the ratings of several high profile Asian financial institutions. Prior to joining Moody's, she worked in the investment banking division of J.P. Morgan in London and Mumbai and ING Vysya Bank in India. She has close to 20 years of experience in the financial industry. Alka holds an MBA from the Xavier Institute of Management in India.
Lina Choi is an Associate Managing Director with the Corporate Finance Group for Moody’s Investors Service HK Ltd. She covers a portfolio of Chinese corporates in various sectors, including Internet, technology, food and beverage.
Before joining Moody’s, Lina worked as a senior investment analyst for AllianceBernstein Holdings LP, a US asset management company. She covered Chinese equities in the telecoms, media and technology sectors. Lina has also worked as an Executive Director at Morgan Stanley’s Equity Research Division, overseeing the Asian telecommunications industry.
Lina has an BA in Economics from the University of Chicago. She is a CFA charter holder.
Jorge R. Valez is a Senior Vice President at Moody’s Sovereign Risk Group based in London. He serves as lead analyst for a portfolio of sovereigns and multilateral development banks in the EMEA region. He is also a global lead in analytical projects aimed at supporting rating accuracy and thought leadership across sovereign credit risks.
Jorge joined Moody’s in 2014 in the Financial Institutions Group. He also worked at Credit Strategy and Research leading the team responsible for banking projections and stress tests globally, as well as foundational research on ratings and capital markets.
Prior to joining Moody’s, Jorge worked for a bank as a macroeconomist responsible for forecasting and scenario analysis, and as a university lecturer in Macroeconomics and Econometrics.
Jorge is a PhD in Econometrics and holds degrees in Economics and in Business Administration.
Clara Lau is the Group Credit Officer, Corporate Finance, Asia Pacific, based in Hong Kong. She is responsible for overseeing the quality and accuracy of corporate ratings in the region. She also coordinates the development of credit policies, rating methodologies and analytical initiatives, and ensures consistency in their application. Lau has extensive rating experience with a major focus on real estate companies, utilities and conglomerates. Before joining Moody’s in 1997, Lau was the Head of Credit with Credit Suisse in Hong Kong, responsible for assessing and sanctioning corporate credit in North Asia. She had also worked with HSBC in Hong Kong, Singapore and the UK. Lau has a Bachelor of Social Science, majoring in Economics, from the University of Hong Kong and is a CFA Charter holder.
Ivy Poon is a Vice President – Senior Credit Officer with Moody’s in Hong Kong. She covers corporate ratings in a portfolio of power and gas utilities companies and conglomerates in Asia Pacific.
Prior to joining Moody’s, Ivy worked for KBC Bank N.V., as a credit assistant manager and a senior marketing officer.
Ivy holds a Bachelor of Commerce from McMaster University and a Postgraduate Diploma in Professional Accounting from the Chinese University of Hong Kong. She is also an affiliate member of CPA.
Abhishek Tyagi is a Vice President – Senior Credit Officer with Moody’s Project and Infrastructure Finance Group, based in Singapore. He covers companies in the port, airport and utility sectors in India and Southeast Asia.
Prior to joining Moody’s, Abhishek worked for eight years as an equity analyst with CLSA in Mumbai, covering Indian utilities and infrastructure companies. Previous positions also included an investment analyst at B&K Securities in Mumbai and a supply chain analyst with Tata Steel in Jamshedpur.
Abhishek holds an MBA from the Xavier Institute of Management, Bhubaneshwar and a Bachelor of Technology (Metallurgy and Material Science) from the Indian Institute of Technology (IIT) Roorkee.
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.