ASEAN rate hikes squeeze margins for millions of small companies

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20230711 ASEAN CEO

Renaldi Perdana Kesuma, founder and CEO of Tenue de Attire, a trendy Jakarta-based menswear company. The ASEAN region is home to an estimated 71 million micro, small and midsized enterprises. (Handout photo)

AMY CHEW, Contributing writer

KUALA LUMPUR -- Renaldi Perdana Kesuma, founder and CEO of Tenue de Attire, a trendy Jakarta-based menswear company, bemoans that higher interest rates have pushed up his cost of doing business by 7% to 10%.

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