{"id":1222,"date":"2025-09-22T09:54:35","date_gmt":"2025-09-22T09:54:35","guid":{"rendered":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/"},"modified":"2025-10-03T13:17:08","modified_gmt":"2025-10-03T13:17:08","slug":"exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia","status":"publish","type":"post","link":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/","title":{"rendered":"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0"},"content":{"rendered":"
\n

By Neil Synnott, Chief Commercial Officer, Asia<\/span><\/i>\u00a0<\/span><\/p>\n

For decades, Asia’s credit markets were primarily the domain of traditional banks, with non-bank lending accounting for <\/span>less than a third<\/span><\/a> of the market. Today, however, a significant shift is underway with private and structured credit representing a growing proportion of funding.\u00a0<\/span>\u00a0<\/span><\/p>\n

In this article, we\u2019ll explore how regulatory shifts, evolving borrower needs, and the search for new sources of return are reshaping how Southeast Asia’s real economy is being financed. We\u2019ll also look at how structured credit products such as <\/span>collateralised loan obligations (CLOs)<\/span><\/a> are seeing increased interest, and progressing from one-offs to standardised, repeatable models.\u00a0<\/span>\u00a0<\/span><\/p>\n

Asia\u2019s funding gap<\/h2>\n

While traditional banks have historically dominated credit markets in Asia, these institutions are scaling back on corporate lending today due to regulations introduced after the 2008\/09 Global Financial Crisis. These regulations have imposed stricter capital and liquidity rules on the banks, resulting in less willingness to provide capital to businesses, particularly small and medium-sized enterprises (SMEs).\u00a0<\/span>\u00a0<\/span><\/p>\n

The problem is, the region’s fast-growing economies, innovative tech start-ups, and ambitious infrastructure and clean energy projects are creating massive, and often complex, demand for capital today. Financing needs are outpacing bank balance sheet growth and quite a significant funding gap is emerging.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

Against this backdrop, alternative credit \u2013 which includes <\/span>private debt<\/span><\/a> and structured credit \u2013 is becoming an essential pillar of the financial ecosystem. This form of credit is filling critical gaps, providing tailored and flexible financing options for projects that might be too large or complex for traditional banking institutions to handle.<\/span>\u00a0<\/span><\/p>\n

A good example here is a recent <\/span>investment<\/span><\/a> by Pentagreen Capital and British International Investment to accelerate the roll-out of renewable energy projects across Southeast Asia. The joint investment \u2013\u202fworth $80 million \u2013 will finance the development and construction of solar, hybrid solar, and battery storage projects in the Philippines, Indonesia and other eligible geographies.<\/span>\u00a0<\/span><\/p>\n

Note that for organisations in need of capital, alternative credit offers several advantages. Not only does it offer a degree of flexibility that is often absent from conventional lending products \u2013 allowing for more customised solutions \u2013 but application and approval processes are typically far more expedited than what banks can offer, making it a compelling option for businesses seeking timely access to capital.\u00a0<\/span>\u00a0<\/span><\/p>\n

Growing investor interest<\/h2>\n

For investors, alternative credit offers benefits too. One such benefit is portfolio diversification, as this asset class usually has a low correlation to traditional asset classes such as stocks and bonds. Another is attractive returns. Compared to publicly-traded bonds, this form of credit often comes with higher yields, and floating-rate instruments can offer protection against rising interest rates.\u00a0<\/span>\u00a0<\/span><\/p>\n

Given the benefits, demand from sophisticated investors is high and this is illustrated by a wave of recent private credit fund closings. In August, SeaTown Holdings International, an Asia-focused alternative investment firm and wholly-owned subsidiary of Temasek\u2019s asset management group Seviora Holdings, announced the <\/span>first close<\/span><\/a> of the SeaTown Private Credit Fund III (PCF III), with more than $612 million in capital commitments. Also in August, Blue Owl Capital announced the <\/span>final close<\/span><\/a> of an alternative credit fund with a focus on asset-backed finance, securing $850 million in capital commitments from a diverse client base.\u00a0<\/span>\u00a0<\/span><\/p>\n

The benefits of CLOs<\/h2>\n

Now, these types of funds are not going to suit every investor. Some funds come with concentration risks \u2013\u202fthey may be invested in a small number of companies or heavily invested in a particular country. Liquidity is also a risk in this asset class given the fragmentation of the market across multiple geographies and currencies. So, these products can have their drawbacks from an investment perspective.\u00a0\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

This is where structured credit products such as <\/span>collateralised loan obligations<\/span><\/a> \u2013\u202fwhich offer exposure to a portfolio of loans in a securitised package \u2013\u202fcome in. CLOs are usually highly diversified, as each CLO portfolio normally contains at least 150 loans from different sectors. Meanwhile, the underlying loans are typically rated and easily tradable, allowing CLO managers to continually optimise their portfolios to suit their risk-return objectives. Additionally, CLOs are structured with a range of tranches, ranging from AAA down to B with an unrated equity tranche at the bottom, allowing investors to choose the risk level that suits them.\u00a0<\/span>\u00a0<\/span><\/p>\n

The shift from one-offs to repeatables<\/h2>\n

While the global CLO market has grown significantly over the last decade to be worth around <\/span>$1.4 trillion<\/span><\/a>, managers in Asia have often had to create these structures as unique, one-off products in the past. This is due to the fact that legal and regulatory frameworks have been nascent, and the pool of local investors with expertise in these products has been small. <\/span>To date, most Asian CLO activity has taken place through established offshore centres (such as Cayman), with truly domestic issuance still at an early stage.<\/span>\u00a0<\/span><\/p>\n

As credit markets across Asia mature, and as regulators and investors become more comfortable with these structures, we\u2019re likely to see a shift towards greater standardisation and repeatability. This will reduce transaction costs and product development time for managers and make these vehicles a more efficient and reliable tool for financing the region’s long-term growth needs.\u00a0<\/span>\u00a0<\/span><\/p>\n

Handling operational complexity<\/h2>\n

Looking ahead, Asia is likely to present many compelling opportunities for alternative credit managers. In many Asian countries, the rapid growth in financing demand for infrastructure, renewable energy and technology will outstrip the capacity of traditional banks.<\/span>\u00a0<\/span><\/p>\n

To be successful, however, managers will need to have the right expertise and robust operational processes in place to handle the complexity and risk associated with alternative credit instruments. Unlike in the public markets where information is readily available, data in this industry can be scarce and difficult to verify, making it harder to accurately value assets and assess risk. Meanwhile, currency risk is a concern for managers dealing with cross-border private credit so effective foreign exchange (FX) hedging is paramount.\u00a0<\/span>\u00a0<\/span><\/p>\n

Given the challenges, a skilled administrator is not just a support function \u2013 it’s a strategic necessity. In an industry where transparency and investor confidence are paramount, robust infrastructure, state-of-the-art technology and local expertise are needed to handle operational complexities, ensure compliance, and build a scalable business that can attract and retain institutional capital.\u00a0<\/span>\u00a0<\/span><\/p>\n <\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"","protected":false},"author":51,"featured_media":1223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"expertise":[31],"service_category":[],"class_list":["post-1222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nExploring the rise of alternative and structured credit in Southeast Asia\u00a0 | IQ-EQ Hong Kong<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0 | IQ-EQ Hong Kong\" \/>\n<meta property=\"og:url\" content=\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\" \/>\n<meta property=\"og:site_name\" content=\"IQ-EQ Hong Kong\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-22T09:54:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-03T13:17:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"aaroncheema\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"aaroncheema\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\"},\"author\":{\"name\":\"aaroncheema\",\"@id\":\"https:\/\/iqeq.com\/hk\/#\/schema\/person\/a729d86170b28c969b1ebcb1643f3e69\"},\"headline\":\"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0\",\"datePublished\":\"2025-09-22T09:54:35+00:00\",\"dateModified\":\"2025-10-03T13:17:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\"},\"wordCount\":11,\"image\":{\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\",\"url\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\",\"name\":\"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0 | IQ-EQ Hong Kong\",\"isPartOf\":{\"@id\":\"https:\/\/iqeq.com\/hk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg\",\"datePublished\":\"2025-09-22T09:54:35+00:00\",\"dateModified\":\"2025-10-03T13:17:08+00:00\",\"author\":{\"@id\":\"https:\/\/iqeq.com\/hk\/#\/schema\/person\/a729d86170b28c969b1ebcb1643f3e69\"},\"breadcrumb\":{\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage\",\"url\":\"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg\",\"contentUrl\":\"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg\",\"width\":2560,\"height\":1700,\"caption\":\"Modern office buildings in Central Hong Kong.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/iqeq.com\/hk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/iqeq.com\/hk\/#website\",\"url\":\"https:\/\/iqeq.com\/hk\/\",\"name\":\"IQ-EQ Hong Kong\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/iqeq.com\/hk\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/iqeq.com\/hk\/#\/schema\/person\/a729d86170b28c969b1ebcb1643f3e69\",\"name\":\"aaroncheema\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/iqeq.com\/hk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/600c8da5910de9b4e53aa9bec1868d3af017b0b3d9a2740554140833233fb863?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/600c8da5910de9b4e53aa9bec1868d3af017b0b3d9a2740554140833233fb863?s=96&d=mm&r=g\",\"caption\":\"aaroncheema\"},\"url\":\"https:\/\/iqeq.com\/hk\/insights\/author\/aaroncheema\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0 | IQ-EQ Hong Kong","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/","og_locale":"en_US","og_type":"article","og_title":"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0 | IQ-EQ Hong Kong","og_url":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/","og_site_name":"IQ-EQ Hong Kong","article_published_time":"2025-09-22T09:54:35+00:00","article_modified_time":"2025-10-03T13:17:08+00:00","og_image":[{"width":2560,"height":1700,"url":"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg","type":"image\/jpeg"}],"author":"aaroncheema","twitter_card":"summary_large_image","twitter_misc":{"Written by":"aaroncheema","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#article","isPartOf":{"@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/"},"author":{"name":"aaroncheema","@id":"https:\/\/iqeq.com\/hk\/#\/schema\/person\/a729d86170b28c969b1ebcb1643f3e69"},"headline":"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0","datePublished":"2025-09-22T09:54:35+00:00","dateModified":"2025-10-03T13:17:08+00:00","mainEntityOfPage":{"@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/"},"wordCount":11,"image":{"@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage"},"thumbnailUrl":"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/","url":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/","name":"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0 | IQ-EQ Hong Kong","isPartOf":{"@id":"https:\/\/iqeq.com\/hk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage"},"image":{"@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage"},"thumbnailUrl":"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg","datePublished":"2025-09-22T09:54:35+00:00","dateModified":"2025-10-03T13:17:08+00:00","author":{"@id":"https:\/\/iqeq.com\/hk\/#\/schema\/person\/a729d86170b28c969b1ebcb1643f3e69"},"breadcrumb":{"@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#primaryimage","url":"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg","contentUrl":"https:\/\/iqeq.com\/hk\/wp-content\/uploads\/sites\/9\/2025\/09\/AdobeStock_47024026-scaled.jpeg","width":2560,"height":1700,"caption":"Modern office buildings in Central Hong Kong."},{"@type":"BreadcrumbList","@id":"https:\/\/iqeq.com\/hk\/insights\/exploring-the-rise-of-alternative-and-structured-credit-in-southeast-asia\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/iqeq.com\/hk\/"},{"@type":"ListItem","position":2,"name":"Exploring the rise of alternative and structured credit in Southeast Asia\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/iqeq.com\/hk\/#website","url":"https:\/\/iqeq.com\/hk\/","name":"IQ-EQ Hong Kong","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/iqeq.com\/hk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/iqeq.com\/hk\/#\/schema\/person\/a729d86170b28c969b1ebcb1643f3e69","name":"aaroncheema","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/iqeq.com\/hk\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/600c8da5910de9b4e53aa9bec1868d3af017b0b3d9a2740554140833233fb863?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/600c8da5910de9b4e53aa9bec1868d3af017b0b3d9a2740554140833233fb863?s=96&d=mm&r=g","caption":"aaroncheema"},"url":"https:\/\/iqeq.com\/hk\/insights\/author\/aaroncheema\/"}]}},"_links":{"self":[{"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/posts\/1222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/comments?post=1222"}],"version-history":[{"count":2,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/posts\/1222\/revisions"}],"predecessor-version":[{"id":1225,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/posts\/1222\/revisions\/1225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/media\/1223"}],"wp:attachment":[{"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/media?parent=1222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/categories?post=1222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/tags?post=1222"},{"taxonomy":"expertise","embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/expertise?post=1222"},{"taxonomy":"service_category","embeddable":true,"href":"https:\/\/iqeq.com\/hk\/wp-json\/wp\/v2\/service_category?post=1222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}