Geopolitics boosted the attraction of Asean as companies look to build resiliency by diversifying supply chains into the region. That has grabbed the headlines. But Asean is more that an alternative to China. Indeed, Asean is a destination. With its population of over 600 million people and with favourable demographics, the opportunities are in fast-growing markets, rising affluence, and the need to drive its growth with increased infrastructure spend.

With its demographic advantage of a young population comes digital adoption that is growing at a fast clip. To thrive, companies embracing the digital way are not only embracing the strategy of the future but also as a means to stay relevant and ahead of the competition.

In this environment of rising expectation, CFOs and treasurers of the most successful companies therefore move in lockstep with their customers. To meet what customers want requires seamless treasury and cash management operation. From payments to collections to adjusting to market volatility, being digital first is redefining the future of treasury in the region.

And the Triple A Leadership Awardees, Asean are –

Ramdhan A, CFO at Amartha Group and the treasury team looked to deploying technology for Indonesia’s grassroot economy. Amartha’s success – and the treasury team’s efforts – is critical in connecting rural micro-enterprises run by women with access to affordable capital. Ramdhan built partnerships with both domestic and international sponsors, which enabled Amartha to disburse total loans of up to US$1.5 billion with low non-performing loan ratio. Next, and with currency volatility due to the uncertain market environment, Ramdhan and the treasury team insulated the company from the fluctuations with FX hedges to protect their long-term exposure. The team was also able to match the hedge cost with the lending revenues earned over time. Finally, clear risk limits were established to ensure the hedging strategy was aligned with the company’s risk appetite. Ramdhan A is The Asset Triple A CFO of the Year and the treasury team as The Asset Triple A Treasury Team of the Year, Microfinance.

Benedictus Rama Aditya, CFO at PT Nusa Satu Inti Artha, operated Doku’s treasury and cash management with the objective to stay ahead of the competition. As Indonesia’s top payment service provider ( PSP ), Doku operated its service on behalf of new economy companies such as Netflix, Spotify, and other global PSPs with its B2C offering facilitating collection from buyers or subscribers. It was important for Doku to be compliant with regulation such as KYC and AML expected by Bank Indonesia. Rama improved cash flow and increased available capital, critical for Doku to look at strategic investments. At the same time, it embraced global standards with its screening and monitoring system to guide its risk management. With automated process, Rama reduced manual errors by 50% adding to better client experience. Benedictus Rama Aditya is The Asset Triple A CFO of the Year, New Economy.

Natalie Huang, head of treasury at Singapore-based digital bank Maribank is likewise honored for her outstanding leadership blending best practices from e-commerce and virtual banking in her dynamic role. As Maribank’s founding treasurer, she has been instrumental in building its infrastructure and navigating treasury operations across the hyper-growth Seabank ecosystem, supporting expansion across ASEAN. Under her leadership, the team enhanced cash flow forecasting by integrating data from deposits, loan disbursements, and expenses. She established dynamic liquidity buffers using highly liquid assets like U.S. securities and money market funds, and diversified funding through lines of credit, including repos. These strategies helped Maribank maintain a strong financial position among peers. Beyond Singapore, Natalie now oversees treasury and business development for the group’s digital banking arm across the region, cementing her role as a key leader in next-generation treasury innovation. Natalie Huang is The Asset Triple A NextGen Treasurer of the Year.

The treasury team at Solusi Bangun Indonesia faced obstacles that is common with treasury organizations with a growing business operation. In the case of Solusi Bangun Indonesia, it oversees four cement plants in Narogong, Cilacap, Tuban, and Lhoknga. It needed to optimize its treasury function across cash flow, liquidity, and capital allocation. It also needed the cooperation from its internal units. By adopting technology-based solutions, such as digital collections using API with its banking partner resulted in cost savings, instant goods dispatchment thereby improving their consumers’ overall journey. Sales processing time improved from 48 hours to near real-time while eliminating unidentified payments, savings amounting to IDR4 billion per month. The Solusi Bangun Indonesia treasury team led by Giri Prabowo is The Asset Triple A Treasury Team of the Year, Construction.

Kelvin Lee, vice-president group treasury at Seatrium faced plenty of challenges. The merger of Singapore’s two main shipyards, Sembcorp Marine and Keppel Offshore & Marine in February 2023 that created Seatrium was opportunity for him and his team to bring together the treasury function via a reorganization. 2024 was the pivotal year of execution with workstreams around capital structure analysis to optimize the balance sheet post-merger and expand the liquidity pools. He also led in the diversification of working capital and trade finance solutions with an eye on the future. The operating environment was not the best. Yet, Seatrium successfully closed a series of financings, including first of its kind, turning the balance sheet from a net current liability of S$1.5 billion as at 1H of 2023 to a net positive current asset of around S$700 million the following year. Kelvin Lee is The Asset Triple A Treasurer of the Year, Marine Engineering.

Thanat Thamrongsaksuvit, managing director at PTTEP Treasury Centre and team pursued automation as the centrepiece of its treasury transformation. Digital is the mantra of its 30-member treasury team. This means bringing the power of technology to bear in driving decision-making based on data and on real-time insights. With its plan to migrate to a new advanced ERP system, the goal is to optimize resource management while being proactive with data protection. The result so far is well over 1,000 manhours annually of cost savings and a reduction in the number by 119 bank accounts. With its sights set on realizing treasury-as-a-service, PTTEP Treasury Centre under the leadership of Thanat Thamrongsaksuvit is The Asset Triple A Treasury Team of the Year, Energy.

To join the in-person annual celebratory dinner in Hong Kong on May 21, 2025 please contact us at celebrate@theasset.com.

To learn more about these awards, please click here.

To see the full list of leadership winners please go here.

Stay tuned in the coming days as we announce the winners of The Asset Triple A Treasurise Awards 2025.