Bali’s ‘big leap’: from holiday paradise to international financial centre

Indonesian and Hong Kong officials, as well as investors across the region, converge at the Nusa Dua Forum to discuss the island’s potential Rosan, alongside other officials, Hong Kong’s Deputy Secretary for Justice Horace Cheung Kwok-kwan, sovereign fund operators, family office leaders and institutional investors were among about 120 participants at the inaugural Nusa Dua Forum in Bali on Friday, organised by the South China Morning Post with Danantara Indonesia as partner. “We will, like any other financial centre, have an independent court system, independent financial authority system, and also independent corporations,” Rosan said in his opening speech. “We strongly believe we will do this properly with the highest standard.” Panellists at the summit weighed in on the collaboration between “patient” government capital and multi-generational family offices. Examples cited include the Hong Kong government-owned Hong Kong Investment Corporation; Danantara; Blue Pool Capital, the Hong Kong-based family office of Alibaba co-founder and SCMP chairman Joe Tsai; and Henderson Land Development chairman Peter Lee Ka-kit’s family office. Alibaba owns the SCMP.

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