Philip Crotty, head of Asian structured finance for Deutsche Bank, this year’s biggest project-finance provider, reflects on the remnants of the business in south-east Asia: “It depends on the country to an extent, but I would say that most of the major projects even ones that were under construction have either been postponed or shelved indefinitely. And there are delays and renegotiations of contracts going on all over the place. Some sponsors have abandoned projects completely, others are trying to keep them warm and then resurrect them when conditions improve.
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