While the world copes rising inflation, three years of COVID, and continued geopolitical tensions from Russia's invasion of Ukraine, we also have to face economic uncertainty and grapple with their aftereffects on market volatility.
Against this backdrop, the Asian Development Bank (ADB), the Indonesian Ministry of State-Owned Enterprises (Indonesian: Badan Usaha Milik Negara (BUMN) and Perusahaan Pengelola Aset (PPA) are co-organizing a Conference on Stronger Recovery through Regional Cooperation. The event will be held in-person on 21 September 2023 in Hotel Merusaka Dua in Bali, Indonesia.
This one-day event which aims to assess the current global financial stability, its risks and vulnerability to future shocks will bring together experts from ADB, AMRO, BIS, WB, research institutes, as well as government officials to share their experience and views and provide insightful perspectives on the opportunities and challenges that lie ahead. Representatives from ADB developing member countries (DMCs), IPAF members (asset management and deposit insurance corporations); and financial ministries, central banks, financial regulatory authorities are expected to participate in this event.
The event has three parts: (i) Safeguarding Financial Stability in Asia amid Challenging Times; (ii) Regional Cooperation and Integration for Financial Development and its implication for IPAF, and (iii) Innovative Solution for Tackling NPLs in Asia; Implementation for an Online NPL Trade Platform to explicitly discuss the implications of surging NPLs to financial stability and the collective measures needed to sustain stability, including innovative IT solutions.
Information Note
You can download the full handbook guide from here.
Venue: Mengiat Ballroom, Merusaka Nusa Dua Master of Ceremony: Dewi Kumala
Opening Session
08:30-09:00
Registration
09:00-09:05
IPAF Introduction Video & 10th Anniversary Video
09:05-09:10
Opening Remarks
Mr. Yadi Jaya Ruchandi President Director, Danareksa - parent company / ex-president of PPA
09:10-09:15
Welcome Remarks
Mr. Shixin Chen Vice-President (South, Central and West Asia) Asian Development Bank (ADB)
09:15-09:45
Keynote Presentation
09:15-09:30
Global Financial Stability and the Role of Regional Cooperation
Mr. Rionald Silaban Director General, State Assets Management Ministry of Finance, Indonesia
09:30-09:45
Strengthening Fiscal and Financial Sector Policies and Resilience to Economic Shocks through Regional Cooperation
Mr. Wahyu Setyawan Expert Staff for Strategic Policy Implementation, Ministry of State-Owned Enterprises, Indonesia
09:45-09:50
Group Photo
09:50-10:10
Tea Break
Session 1: Safeguarding Financial Stability in Asia amid Challenging Times
10:10-10:30
Presentation Securing Financial Stability on a Volatile Global Economy
Global economic outlook
Examining the current state of global financial stability, analyzing key risks and vulnerabilities
Ms. Sally Chen Regional Adviser Bank for International Settlements (BIS)
10:30-11:40
Panel Discussion: [three or four 10 minute presentations by panelists; 40 minutes for discussion]
Key macroeconomic developments in the Asian region and assessment of the risks to the outlook.
Overview of Asian debt trends and implication for financial stability
Regulatory frameworks and for minimizing bad debt and strategy to ensure financial stability (Regulator from a Financial Supervisory Authority)
Moderator: Mr. John Beirne Vice Chair of Research Department and Senior Research Fellow Asian Development Bank Institute (ADBI)
Panelists: Mr. Hoe Jeong Kim Senior Advisor to the Chairman, KoreaExchange
Mr. Kevin C. Cheng Group Head, Financial Surveillance AMRO - Asia
Mr. Mohamad Miftah Director Department of Banking Research and Regulation, OJK
Mr. Johannes Raschke, CFA Senior Investment Officer, DARP, Financial Institutions Group, IFC
11:40-13:10
Lunch and Networking Break
Session 2: Regional Cooperation and Integration for Financial Development and its implication for IPAF
13:10-13:30
Presentation
Mr. Sunjoon Choe Team Head Korea Asset Management Corporation (KAMCO)
13:30-14:40
Panel Discussion: [three or four 10 minute presentations by panelists; 30 minutes for discussion]
Actions to enhance regional cooperation to overcome the evolving challenges, sustain the region’s dynamism, and prepare for future shocks
NPLs surge in Asia threating financial stability
Collaborative initiatives to promote financial stability and manage NPLs in Asia
Successful strategies and best practices in resolving NPLs in Asia
How can IPAF further develop the Asian NPL markets?
Moderator: Mr. James Villafuerte Regional Lead Economist, Southeast Asia Asian Development Bank (ADB)
Panelists: Mr. Karlis Bauze Senior Financial Sector Expert at FinSAC, World Bank
Mr. Adi Pamungkas Daskian Director of Investment 2, PPA
Mr. Chen Lau Partner, Business Recovery Services, Pricewaterhouse Coopers (PwC)
Mr. Kanat Tastembekov Head of Division, Budget Lending Minister of Finance, Kazakhstan
14:40-15:00
Tea Break
Session 3: Innovative Solution for Tackling NPLs in Asia; Implementation for an Online NPL Trade Platform
15:00-15:45
Presentation
Ms. Inyoung Hwang Regional Cooperation Specialist Economic Research and Development Impact Department Asian Development Bank (ADB)
Mr. Burkhard Heppe CTO and Co-founder NPL Markets Ltd
Ms. Sungmee Hong Lawyer Lee & Ko
15:45-16:55
Panel Discussion
Moderator: Mr. Jong Woo Kang Director, Economic Research and Development Impact Department Asian Development Bank (ADB)
Panelists: Mr. Ivan Moisov Director, Stress-Testing Dept., The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
Mr. Phan Manh Cuong Deputy Director, Bureau of Macro Surveillance of the credit institution system, Banking Supervisory Agency State Bank of Viet Nan (SBV)
Mr. Richard Bevan [Virtual] Director, Portfolio Lead Advisory Services, Deloitte
Mr. Chi-Nang Kong Senior Managing Director Pepper Global
Closing Session
16:55-17:00
Closing Remarks
Mr. Avianto Istihardjo Interim President Director of PPA
Speakers
Opening Session
YADI JAYA RUCHANDI
President Director, Danareksa - parent company / ex-president of PPA
Yadi Jaya Ruchandi is serving as President Director since 16 Februari 2023 accordance with the Decree of the Minister of State-Owned Enterprises Number: SK-31/MBU/02/2023 concerning Dismissal and Appointment of Members of the Board of Directors of PT Danareksa (Persero) dated Februari 16, 2023.
He has built his expertise across restructuring, business turnaround, and strategic project management. Prior join Danareksa, he served as President Director at PT Perusahaan Pengelola Aset (2020-Feb 2023). He also served as Senior Executive Vice President at Bank Exim (2019-2020), Chief Financial Officer at PT Tuban Petrochemicals Industries (2016-2019), Chief Operating Officer at PT Penjaminan Infrastruktur Indonesia (Persero) (2010-2016), Executive Vice President Project Development at PT Cardig International Aviation (2009), Corporate Finance Group Head (Deputy CFO) at PT Cardig International (2004-2006), Senior Investment Officer at Indonesian Banking Restructuring Agency (2000-2004), Capital Market Dealer at American Express Bank Jakarta (1999-2000), and Assistant Manager Treasury Analyst at American Express Bank Jakarta (1997-1999).
He holds a Bachelor of Mechanical Engineering from University of Indonesia (1995) and Master of International Management (MBA) from Thunderbird-The American Graduate School of International Management, Arizona, USA focusing on International Finance and International Operation (1997). He is also a CFA charter holder.
SHIXIN CHEN
Vice-President (Operations 1) Asian Development Bank (ADB
Mr. Shixin Chen is the Vice-President (Operations 1) of the Asian Development Bank (ADB). He is responsible for operations in the South Asia Department and the Central and West Asia Department.
Prior to joining ADB, Mr. Chen headed the Department of International Economic and Financial Cooperation at the Ministry of Finance of the People’s Republic of China (PRC).
Mr. Chen held senior positions in the Ministry of Finance of PRC, overseeing areas of public finance and partnerships with multilateral development banks. He was a Board Director in the ADB’s Trust Fund Credit Guarantee and Investment Facility from 2012 to 2014. He was World Bank’s Executive Director for the PRC from 2013 to 2016 and a Board Director for the PRC in the New Development Bank and the Asian Infrastructure Investment Bank from 2016 to 2018.
RIONALD SILABAN
Director General of State Assets Management Minister of Finance, Indonesia
Born in Pekanbaru on April 23, 1966, Rionald Silaban earned his Bachelor of Law from University of Indonesia in 1989. He continued his study in LLM Common Law Georgetown Unibersity in 1993.
Starting his career in the Ministry of Finance in 1990, he was promoted to be Head of Formulation of Recommendations Fiscal Risk Management of Fiscal Policy Agency in 2006 and Head of the Center for Analysis and Policy Harmonization of Secretary General in 2008.
He was appointed as Assistant of Minister for Organization, Bureaucracy, Information, and Technology on January 13, 2012, and then inaugurated as Executive Director at the World Bank in 2015. Commencing on December 16, 2016, he serves as the Assistant of Minister for Macroeconomic and International Financial of Ministry of Finance. Commencing on June 26, 2018, believed to be serving as Head of Financial Education and Training Agency.
Session 1: Safeguarding Financial Stability in Asia amid Challenging Times
JOHN BEIRNE
Vice-Chair of Research and Senior Research Fellow Asian Development Bank Institute
John Beirne is Vice-Chair of Research and a Senior Research Fellow at the Asian Development Bank Institute (ADBI). He has around 25 years of professional experience as an economist in the public and private sectors, primarily in the areas of international finance and macroeconomics. In his current role, he co-heads ADBI’s Research Department, leading research workstreams on macroeconomics, finance, and infrastructure. He is also co-managing editor of the ADBI Working Paper Series. He concurrently holds the position of Senior Economist at the European Central Bank (ECB), on leave since March 2019. Having spent over a decade at the ECB, his work focused mainly on international policy analysis and economic research on global financial markets, capital flows, and commodities. Prior to that, he worked in academia in the UK and as an economist in the private sector with KPMG in Ireland and the UK.
His research focuses on international macroeconomics, financial economics, and applied econometrics. He has published numerous articles in peer-reviewed journals in economics and finance, co-authored or coedited several ADBI books, and serves as an editorial board member of the Asian Development Review. He presents his research regularly at international conferences and lectures at the University of Tokyo and Hitotsubashi University in Japan on topics related to financial globalization, monetary policy, and macro-financial risk. He is also a frequent commentator in the media on the macro-outlook for Asian economies, including at the BBC, Bloomberg, CNBC, and many others. He holds a PhD in Economics from Brunel University.
SALLY CHEN
Regional Adviser Bank for International Settlements
Sally Chen is currently the Regional Adviser for the Monetary and Economic Department in the BIS Asian Office. Before joining BIS, Sally was with the IMF in various capacities, including assignment in the Fund’s strategy department where she helped draft the Fund’s policy stance on exchange rate policy and debt management. More recently, Sally was the Resident Representative heading the IMF’s Hong Kong Office, where she coordinated the Fund's research efforts on financial market developments and outreach in the Greater China region. Her research focuses on the intersection of macro and financial stability, including fintech developments, capital flows and financial cycles.
HOE JEONG KIM
Senior Advisor to the Chairman Korea Exchange
Dr. Hoe Jeong Kim is currently Senior Advisor to the Chairman and served as Standing Audit Commissioner at Korea Exchange. Prior to these appointments, he was Deputy Minister for International Affairs at the Ministry of Economy and Finance from 2019 to 2020. Dr. Kim was Alternate Executive Director for Asia and the Pacific Constituency at the IMF from November 2018 to January 2019, and Alternate Executive Director for Asia and the Pacific Constituency at the World Bank Group from 2016 to 2018. From 2011 to 2015, Dr. Kim held Director-General positions at the Ministry of Economy and Finance, Statistics Korea and Presidential Council for Future and Vision. He also served as Director for the Customs Policy Division at the Ministry of Economy and Finance from 2007 to 2010, and as First Secretary for Economic and Financial Affairs at the Korean Embassy in Moscow from 2003 to 2006.
Dr. Kim holds a Ph.D. in Economics from the University of Illinois (United States), as well as an M.A. in Public Administration and a B.A. in Economics from the Seoul National University (Korea).
KEVIN CHENG
Group Head & Lead Economist Macro-Financial Research Group ASEAN+3 Macroeconomic Research Office (AMRO)
Dr. Kevin C. Cheng was appointed Group Head and Lead Economist at the ASEAN+3 Macroeconomic Research Office (AMRO) in September 2022. He is responsible for leading a group of economists to undertake macroeconomic and financial market surveillance on member economies in the ASEAN+3 region.
Prior to joining AMRO, he was Head of Financial Stability Surveillance at the Hong Kong Monetary Authority (HKMA) from 2017 to 2022, responsible for leading six teams of economists and financial specialists with a view to identifying emerging risks and vulnerabilities and their transmission paths in the financial system, monitoring global financial markets, as well as leading a data-driven approach to facilitate risk monitoring and surveillance.
Before taking up the role at HKMA, Dr. Cheng served in various positions at the International Monetary Fund (IMF) in Washington, D.C. for 15 years. He made notable contributions to formulating the overall strategic directions and priorities of the IMF and key work program of the IMF Executive Board, as well as conducting Article IV Missions across Asia, Europe and Africa.
Dr. Cheng holds a Ph.D. in Economics from University of Chicago, USA, and a Bachelor’s degree in Economics and Mathematics from the University of British Columbia, Canada. He is also a Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM).
Dr. Cheng is concurrently an adjunct professor in the Faculty of Business and Economics at the University of Hong Kong.
Session 2: Regional Cooperation and Integration for Financial Development and its implication for IPAF
JAMES VILLAFUERTE
Regional Lead Economist Southeast Asia Department Asian Development Bank
James Villafuerte is the Regional Lead Economist of the Southeast Asia Department of the ADB. He heads the ASEAN Policy Network and conducts research on a wide range of economic and policy issues, including: i) regional economic surveillance; ii) impact assessment of economic shocks including COVID-19; and iii) thematic research on trade and supply chain, technology and digitalization, infrastructure financing, and climate change, among others.
Prior to Joining ADB, he was the Team Leader of the Asia Regional Integration Center of the ADB, a Senior Economist at the Department of Treasury and Finance in Victoria, and an Economist of the Poverty Reduction and Economic Management (PREM) Team of World Bank Office in Manila.
He holds a bachelor’s and master’s degrees in economics from the University of the Philippines and completed an East West Center Research Internship Program in Hawaii. He also obtained: extensive CGE policy simulation training in Monash University in Australia, and Global Trade (GTAP) CGE policy simulation training in Purdue University in the US.
He holds an Australian citizenship and resides in Melbourne Australia.
SUN-JOON CHOE
Head of International Business Team Korea Asset Management Corporation
Mr. Choe has held the position of overseeing international business affairs at KAMCO for the past 12 years. During this period, he spearheaded various initiatives, including overseas investments, technical assistance programs, research endeavors, and training activities in countries such as the Peoples’ Republic of China, Vietnam, Laos, Myanmar, Mongolia, Indonesia, Peru, Ecuador, Colombia, and Kazakhstan. These efforts spanned a wide range of areas, including financial stability, public asset management companies, public property management and development, as well as distressed asset management. In 2013, he played a pivotal role in the establishment of the “International Public AMC Forum” (IPAF), a non-governmental international organization formed in collaboration with the Asian Development Bank (ADB). Over time, IPAF has evolved into an exclusive and strong Asian-based forum promoting regional economic safety net, boasting the participation of 15 prominent public AMCs and deposit insurers. Additionally, Mr. Choe is registered as a consultant with ADB, IDB and EBRD.
Prior to his tenure at KAMCO, Mr. Choe held positions at various organizations, including a US-based private equity firm, William E. Simon & Sons in Hong Kong, the sovereign investment arm of a Canadian pension fund, CDP Capital, and the South Korean mobile telecom service provider, SK Telecom. During his time at these organizations, Mr. Choe actively engaged in investment execution and provided corporate finance advisory services to the management teams of investee companies located in Hong Kong, Australia and Malaysia. His contributions were instrumental in identifying unique investment opportunities and implementing effective financial analyses through innovative deal structures.
Mr. Choe holds a Bachelor’s of Science in Finance from New York University’s Stern School of Business and obtained his Master’s degree from University of Pennsylvania, where he specialized in East Asian International Relations. Mr. Choe is currently pursuing his Ph.D. in the field of IDC (International Development and Cooperation) at Kyung Hee University, Korea, concentrating on a range of macroeconomic and banking determinants influencing non-performing loans within the Asian region.
KARLIS BAUZE
Senior Financial Sector Expert at FinSAC World Bank Group
Karlis Bauze is a Senior Financial Sector Expert at FinSAC, specializing in non-performing loans (NPL).
Prior to joining the World Bank in 2016, he was a Policy Analyst at the European Commission (EC) in Athens, Greece and was an EC representative at the Hellenic Financial Stability Fund (Executive Board and General Council). He actively participated in the work of the EC financial team, in cooperation with the International Monetary Fund (IMF) and European Central Bank (ECB), by drafting and working on the Greek economic adjustment program for three years (2013-2015).
Prior to that, he headed the Monetary Policy and Financial Stability Department at the Bank of Latvia (central bank) for five years, including at the time of the financial crisis in Latvia. During this assignment, he (i) actively participated in the work of the Governor’s Office, (ii) represented Latvia on the Economic and Financial Committee of the European Union (the Sherpa committee for European Finance Ministers’ Economic and Financial Affairs Council (ECOFIN), (iii) worked on the economic adjustment program of Latvia (no currency devaluation but internal devaluation – structural reforms), and (iv) contributed to financial stability work in Latvia. Earlier, he spent more than 13 years working on financial markets and was Chief Dealer for reserve management at the Market Operations Department of the Bank of Latvia.
He holds a master’s degree in Finance from the University of Latvia and has passed the CFA exam.
CHEN LAU
Partner PricewaterhouseCoopers China
Mr. Chen Lau is a Partner of PwC’s Special Situation Advisory in Beijing currently assisting a US based special situation fund in acquiring non-performing loans portfolio in China with works including deal sourcing, due diligence/valuation, negotiation and post-deal master servicing.
Chen assisted multiple banks in China in performing NPLs recovery analysis and helped banks dispose of the NPLs. Set up the Rongde Assets Management Company Ltd, a joint venture between China Huarong Assets Management Co. Ltd and Deutsche Bank, which is the only licensed joint venture in China specialized distressed assets investment nationally.
Prior to joining PwC, Chen has worked in Standard Chartered Bank’s Corporate Finance Services and Deutsche Bank’s Special Assets Department in Beijing, responsible for acquiring of non-performing assets in Hong Kong and the mainland. Chen also held various positions that showcased his expertise in restructuring.
Chen holds a bachelor’s degree in accountancy from University of Texas at Austin. He is also a member of the American Institute of Certified Public Accountants, certified in business valuation and financial forensics, and Hong Kong Institute of Certified Public Accountants.
KANAT TASTAMBEKOV
Head, Budget Lending Division Ministry of Finance of the Republic of Kazakhstan
Kanat Tastambekov is the current Head of the Division, Budget Lending of the Department of Budget Lending, National Fund of the Republic of Kazakhstan and liaison with matters relating to the financial sector issues for the Ministry of Finance of the Republic of Kazakhstan (including managing of the work functions of the Fund of the Problem loans)
Prior to that, he held various roles in the Ministry of Finance of the Republic of Kazakhstan’s Committee of State Income (Tax Committee) and the Department of State Income (Tax Committee) in Kostanay region.
He was a member of the of the Ministry of Finance of the Republic of Kazakhstan’s Committee of State Income (Tax Committee).
He graduated from Kostanay State University A. Baitursynov, Republic of Kazakhstan with bachelor’s degree in finance.
Kanat Tastambekov received the 2022 state excellent award on financial services.
Session 3: Innovative Solution for Tackling NPLs in Asia; Implementation for an Online NPL Trade Platform
JONG WOO KANG
Director Economic Research and Development Impact Department Asian Development Bank
Dr. Jong Woo Kang is Director of Regional Cooperation and Integration Division at the Economic Research and Development Impact Department (ERDI) of the Asian Development Bank (ADB). As director, he plays a role as an interface between ADB’s internal and external stakeholders on regional cooperation and integration. He is a seasoned economist with extensive knowledge and experiences on policy and strategic issues. He was Principal Economist at ERDI, Senior Advisor to the Managing Director General of ADB and Senior Economist at Strategy and Policy Department at ADB. He leads the annual publication of Asian Economic Integration Report. Areas of his research interest include regional integration, inclusive growth, macroeconomic policies, international trade and finance, and aid effectiveness. He published articles in economics journals such as Journal of Development Economics, Journal of Applied Economics and Journal of World Trade. Before joining ADB, he was director at Ministry of Finance and Economy of Korea until 2006. He had got his BA in economics and MA in public administration from Seoul National University, and Ph D in economics from University of Washington.
INYOUNG HWANG
Regional Cooperation Specialist Economic Research and Development Impact Department Asian Development Bank
Inyoung Hwang is currently working at ERCI of the Asian Development Bank (ADB) as a regional cooperation specialist, the secondee of KAMCO. She is in-charge of planning and implementation of IPAF related activities, project management of TA projects, and knowledge sharing.
At KAMCO, she has been responsible for international business for 8 years. She organized and conducted several trainings and consulting services for various Asian countries in the areas of financial stability, public AMCs, public property management & development, and resolution of NPLs. She has also planned and organized big international conferences and seminar as a project manager and conducted a lot of IPAF main activities. She was also in charge of corporate support projects for SMEs, ran household support programs including managing the recovery fund. In addition, she collected taxes and resolved NPLs through a public auction and KAMCO’s own online bidding system.
She earned her M.B.A. from Goizueta Business School in US. She holds a bachelor degree Economics from Hankuk University of Foreign Studies and completed FNLP (Financial Leaders’ Program) course at KAIST Business School.
BURKHARD HEPPE
CTO and Co-founder NPL Markets Ltd
Burkhard is the co-founder and Chief Technology Officer of NPL Markets Ltd, a London based FinTech platform for trading and analysing performing and non-performing loans. Burkhard has 13 years of experience in international investment banking and 13 years as an entrepreneur. He co-founded the Dutch FinTech Open-Source Investment Services. Burkhard has advised major US and European financial institutions on loan trading, securitisation, data quality, valuation and risk models.
Previously, he was a Managing Director at Bank of America Merrill Lynch in London, responsible for arranging credit risk transfer and funding transactions for financial institutions in Europe. He was a principal investor in securitisation transactions and non-performing loans and has structured several award-winning first-time assets securitisations of project finance and transportation loans. Burkhard started his career as a quantitative analyst for credit derivatives and synthetic risk transfer at Citibank.
SUNGMEE HONG
Lawyer Lee & Ko
Sung Mee Hong is a senior foreign attorney in the Corporate and M&A Practice Groups. She has assisted numerous domestic and foreign companies in mergers and acquisitions, in-bound and out-bound investments, and joint venture projects. She also advises clients on general corporate and business laws. For the past several years, she has been focusing on Vietnam and other Southeast Asian region practice, and she has strong working relationships with several Korean financial institutions and represented them with regard to their overseas investments and other various transactions, including, without limitation, acquisition of several banks in the Philippines, Indonesia and Cambodia and establishment of foreign credit institutions in Vietnam. She also regularly advises her financial sector clients on the operation and management issues.
IVAN MOISOV
Director Bank Analytics and Stress Testing Department ARDFM, Kaz
Ivan Moisov has 23 years of professional experience in banking supervision and consulting (PwC and KPMG). Ivan has extensive experience in banking supervision advising and working in risk management. Ivan was responsible for implementation of Supervisory Stress testing in Kazakhstan. His work in financial risk management includes the development and validation of credit, market and operational risk models. Ivan worked for two years at UniCredit Group (Italy) in the field of testing innovative risk assessment models, which included a credit risk portfolio model, an AMA operational risk model, an economic capital model and a business risk model. Ivan has extensive experience in all aspects of credit risk management, including process management, credit cycle management, impairment methodology, development of internal credit risk management models, implementation, use and validation of models. Ivan has extensive experience in implementing Basel II, IFRS 9 and ICAAP programs in the international banking environment.
CUONG MANH PHAN
Deputy Director Bureau of Macro Surveillance of the credit institution system, Banking Supervisory Agency State Bank of Viet Nam (SBV)
Mr. Cuong Manh Phan is Deputy Director for Bureau of Macro Surveillance of the credit institution system, Banking Supervisory Agency, State Bank of Vietnam. He has more than 10 years of experience in banking supervision for banking system in Vietnam. In 2014, He was appointed as Deputy Chief of Secretary Division and as senior assistant of Deputy Governor for State Bank of Vietnam.
Prior joining State Bank of Vietnam, Mr. Phan was financial analyst in Loan and Equity Department (2006-2010) at the International Finance Corporation in Washington DC, USA.
Born in Hanoi, Vietnam in 1979 and he holds Bachelor of Science in Finance from George Mason University, Virginia, USA (2002) and MBA from University of Maryland, Maryland, USA (2005).
RICHARD BEVAN
Director Portfolio Lead Advisory Services Deloitte
Richard Bevan is an experienced insolvency and restructuring professional with over 30 years’ experience. Since 2007 he has focused on the financial services sector.
Richard is part of Deloitte’s market leading, global Portfolio Lead Advisory Services team which has advised on over $600bn of deleveraging and loan portfolio assignments (performing and non-performing) since the start of the financial crisis across every major asset class and continent.
He is part of the core team working on and advising in relation to the bank recovery and resolution planning. Richard is a resolution specialist, focusing on no creditor worse off analysis and independent valuations (e.g. Banco Popular Español) and contingency planning. He has worked on a number of RRP assignments for major UK financial institutions as well as resilience simulation exercises to test the effectiveness of organizations’ resolution plans.
CHI-NANG KONG
Senior Managing Director Pepper Global
Mr. Kong has over 20 years’ experience as a senior executive banker and advisor within corporate finance specialising in financial services and M&A, and worked with numerous financial institutions, governments and investors on NPL solutions, core/non-core strategies and execution.
He is currently a senior MD in Pepper Global (pepper-global.com) which is a leading global loan servicer and alternative lender with more than USD80bn under management across 14 countries globally. Pepper is a KKR owned portfolio company – a leading global PE investor.
Prior to joining Pepper, he was a partner with Deloitte leading their bank restructuring and loan portfolio practise in China and SEA. In his previous role, he was the Head of Portfolio Strategy for UK Lloyds Banking Group’s Bad Bank Division – one of the largest distressed banks in Europe during the GFC – where he was part of the senior executive team leading the successful deleveraging of the bank’s £300bn of Non-Core assets.
He is a Fellow of the Institute of Chartered Accountants in England and Wales.
Closing Session
AVIANTO ISTIHARDJO
Interim President Director of PPA
Avianto Istihardjo has been appointed as Director of Finance and Risk Management concurrently Interim President Director through the Decree of the Minister of State-Owned Enterprises and President Director of PT Danareksa (Persero) No. 191/MBU/09/2022 and KPPS-46/015/DNRK dated 12 September 2022.
He has extensive experience as the chief risk officer with a demonstrated history of working in the banking industry in Asia Pacific Region. Skilled in credit risk, risk management, and corporate banking. Strong finance professional with a Master’s degree focused in Risk Management from University of Indonesia in 2006 and currently pursuing the doctoral program in Strategic Management from the same university.
Avianto previously worked as Financing Director at PT Bank Muamalat Tbk (2018-2022), Executive Director for Corporate Credit Group at DBS Bank Ltd Singapore (2017-2018), Head of Corporate Credit Group at PT Bank DBS Indonesia (2014-2017), SVP and Head of Credit & Risk Management at PT Bank Ekonomi Raharja Tbk (2010-2014), VP of Local Commercial Bank Risk Co-Head at Citibank NA (2008-2010), VP of Credit Risk Division at PT Bank OCBC NISP Tbk (1999-2008), and Relationship Manager at Bank of Tokyo Mitsubishi UFJ-BRI Finance (1995-1999).
Presentations
Session 1: Safeguarding Financial Stability in Asia amid Challenging Times
PPA Interim President Director Avianto Istihardjo and ERDI Regional Lead Economist for Southeast Asia James Villafuerte during the IPAF 10th anniversary ceremony at the 7th IPAF Summit on 20 September 2023 in Bali, Indonesia
ADB and IPAF members participated in the 7th IPAF Summit on 20 September 2023 in Bali, Indonesia
INTERNATIONAL CONFERENCE
Opening Session
In the photo: Representatives from ADB, PPA, Indonesian ministries of finance and state-owned enterprises, and asset management companies participated in the 7th IPAF International Conference in Bali, Indonesia on 21 September 2023
In the Photo: Representatives from ADB, AMRO-Asia, BIS, WB, OJK, ministries of finance and state-owned-enterprises, Indonesia, ministry of finance, KAZ, Agency of the Republic of Kazakhstan for Regulation and Development, State Bank of Viet Nam, Korea Exchange, PwC, Deloitte, Pepper Global, NPL Markets Ltd, Lee & Ko, PPA and KAMCO are among the Speakers who graced the event.
Session 1: Safeguarding Financial Stability in Asia amid Challenging Times
In the photo from L – R: Speaker – Sally Chen, BIS, panelists (Hoe Jeong Kim-Korea Exchange, Kevin Cheng-AMRO Asia, Johannes Raschke-IFC, Mohamad Miftah-OJK, virtual) and ADBI’s John Beirne moderated the panel discussion.
Session 2: Regional Cooperation and Integration for Financial Development and its implication for IPAF
In the photo from L – R: Speaker -Sunjoon Choe, KAMCO, panelists (Chen Lau-PwC, Kanat Tastembekov-Mof KAZ, Karlis Bauze-WB, virtual) and ADB’s James Villafuerte moderated the panel discussion.
Session 3: Innovative Solution for Tackling NPLs in Asia; Implementation for an Online NPL Trade Platform
In the photo from L – R: Speakers (Inyoung Hwang-ADB, Burkhard Heppe-NPL Markets Ltd., Sungmee Hong-Lee & Ko), panelists (Phan Manh Cuong-SBV, Ivan Moisov-ARKRDFM, Chi-Nang Kong-Global Pepper, Richard Bevan-Deloitte, virtual), and ADB’s Jong Woo Kang moderated the panel discussion.
Closing Session
In the Photo: PPA Interim President Director Avianto Istihardjo delivered the closing remarks during the IPAF International Conference on 21 September 2023 in Bali, Indonesia
IPAF Coordinating Council Meeting
ADB and IPAF members’ representatives participated in the Coordinating Council Meeting on 22 September 2023 in Bali, Indonesia.
Videos
IPAF Milestones
7th Summit Video Highlight
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LEGAL BASIS
Regulation No.29 of 2021 issued by the Minisiter of Law and Human Rights regarding Visas and Residence Permits
Regulation No.9/PMK.02/2022 issued by the Minister of Finance regarding Immigration Service Types and Tariffs in the Ministry of Law and Human Rights for Non-Tax State Revenue
Circular Letter IMI-0549.GR01.01 of 2022 by the Acting Director General of Immigration regarding Immigration Assistance to Promote Sustainable Tourism Amidst the Covid-19 Pandemic
PASSENGER LUGGAGE
It is prohibited to import or export items such as sharp objects, hazardous chemicals, and illegal drugs in Indonesia.
There are limitations on liquids, aerosols, and gels that travelers can carry aboard international flights.
Passengers are allowed to use and carry procedural restrictions such as liquids, aerosols, and gels on flights, including items such as alcohol, cosmetics, medicines, and daily necessities, with the following conditions:
Carried by the passengers themselves before entering the airport.
These items can be obtained or purchased at airport duty-free shops and/or onboard.
Containers for liquids, aerosols, and gels should not exceed a maximum capacity of 100 ml or an equivalent size.
These containers must be placed inside a transparent plastic bag with a maximum capacity of 1000 ml, 1 liter, or a similar size, and the bag should have a securely fastened cover
The liquid, aerosol,and gel requirement does not apply to the follow ing items:
Medications
Baby foods, beverages, and milk
Special dietary foods and beverages
Liquids,aerosols, and gels must adhere to the specified capacity limits. If passengers exceed the allowed quantities outlined inthe regulations, airport security personnel are authorized to confiscate their checked baggage (stored luggage) or other possessions.
Liquids, aerosols, or gels obtained from duty-free shops or onboard must meet the followingconditions:
The containers holding these substances should be enclosed in a transparent plastic bag supplied by the duty-free shop manager and securely sealed.
Evidence of purchase must be presented.
These items should be segregated from other baggage during inspection.
Penalties will be enforced as per the relevant regulations for any breaches of the rules concerning the transport of liquids, aerosols, and gels in the aircraft cabin by passengers.
VEHICLES INFORMATION AT I GUSTI NGURAH RAI AIRPORT BALI - INDONESIA TO THE ANNUAL IPAF SUMMIT & INTERNATIONAL CONFERENCE VENUE
TRANSPORTATION INFORMATION FROM HOTEL TO THEANNUAL IPAF SUMMIT & INTERNATIONAL CONFERENCE VENUE
PT Perusahaan Pengelola Aset (PPA) does not offer transportation services, except for VVIPs.
Participants may utilize transportation services that are available at the airport, including tax i, rental car, and other public transportation.
Indonesia's transportation service applicat ions you can download on your phone:
Grab
Go Car
Taxi
Should you require aid or additional details regarding transportat ion services, our committee team is stationed at the airport to offer assistance. Please get in touch with Mr. Bojes Setiawan at +62.89 8542 4476.
SHUTTLE TRANSPORTATION SERVICE
Shuttle service is available by Merusaka Hotel and service you from venue To Novotel Nusa Dua, at certain hours with details as follow: