Industry News

Frasers Hospitality, a division of Frasers Property, has announced the soft opening of Fraser Residence Wuzhen, marking its first venture into the historic Jiangnan region of China. Situated in the heart of the 1,300-year-old water town, the property offers a blend of modern comfort and traditional charm, just 2.4 kilometres from Wuzhen’s scenic zones.

The new residence features 117 serviced flats, available in one- and two-bedroom configurations, designed for both short and extended stays. Each flat is equipped with a kitchenette, washer dryer, and open living areas. The property also boasts a 24-hour gym, a Residents’ Lounge, meeting spaces, and a Kids’ Playzone. Guests can savour contemporary Jiangnan cuisine at the on-site restaurant, which uses seasonal local ingredients.

Fraser Residence Wuzhen is part of Frasers Hospitality’s broader strategy to expand its presence in Asia, with plans to open 18 new serviced and hotel residences across the region by 2028. Chief Operating Officer Chew Hang Song stated, “Fraser Residence Wuzhen broadens the role our brands can play across China’s evolving hospitality landscape.”

To celebrate the opening, guests booking a stay of two consecutive nights or more before 15 September 2026 can enjoy a 30% discount on the Best Flexible Rate. This new development underscores Frasers Hospitality’s commitment to offering unique experiences in culturally rich destinations.

Half of consumers in the Asia-Pacific (APAC) region would rather do anything else than contact customer service, according to the latest State of Customer Experience 2026 report by Genesys. The report, which surveyed 1,426 consumers and 508 customer experience (CX) and business leaders across eight APAC markets, highlights a significant gap between consumer expectations and organisational readiness.

The findings reveal that 86% of consumers have reduced or ceased business with a brand due to poor customer service. In Singapore, the aversion to contacting customer service is even higher, with 63% of respondents expressing reluctance. This underscores the pressing need for businesses to enhance their customer service offerings.

Despite 84% of consumers expecting artificial intelligence (AI) to improve service quality and speed, nearly half of the organisations surveyed (46%) fail to seamlessly transfer customer information between virtual and human agents. This gap in execution highlights the challenges businesses face in integrating AI, data, and human support into a cohesive customer journey.

Albert Nel, Senior Vice President and Regional Sales Leader for Asia Pacific at Genesys, is available for interviews to discuss how businesses can bridge this gap and meet rising customer expectations. The report suggests that organisations need to prioritise investments in technology and practices that align with consumer demands for faster, more personalised, and connected experiences.

As customer expectations continue to rise, the report indicates that companies must adapt quickly to maintain their reputation and customer base. The full report is available for those interested in exploring the detailed findings and implications for the future of customer experience in the APAC region.

Mapletree Investments has completed its largest logistics development in China, the Mapletree Guangzhou Procurement and Distribution Centre, located in the Zengcheng District of Guangzhou. The facility spans approximately 389,000 square metres and includes warehousing, cold chain facilities, and a central kitchen, all within an integrated logistics park. This development aims to support the growing logistics needs of the Guangdong-Hong Kong SAR-Macao Greater Bay Area.

Strategically positioned near Zengcheng West Railway Station, the centre offers seamless connectivity to international rail freight corridors, enhancing access to markets across Eurasia and ASEAN. Goh Chye Boon, Regional CEO for China at Mapletree, stated, “The completion of Mapletree Guangzhou Procurement and Distribution Centre demonstrates our confidence in the long-term fundamentals of China’s economy and sustained demand for modern, well-located logistics facilities.”

The centre features three five-storey logistics facilities and a central kitchen, designed to meet the needs of e-commerce platforms, third-party logistics providers, and food manufacturers. It offers dual-sided loading bays, high clear heights, and automation-ready flooring to support efficient logistics operations. The facility is also equipped with fibre-optic connectivity and comprehensive security systems.

Mapletree’s commitment to sustainability is evident in the development’s design, which incorporates 11 sustainability initiatives. The centre’s strategic location within the Greater Bay Area provides tenants with access to extensive transportation networks and a significant population base, supporting efficient supply chain operations.

The development has already attracted several tenants, with ongoing discussions involving logistics providers, e-commerce operators, and retailers. Mapletree continues to expand its logistics footprint across China, having delivered over 10 million square metres of Grade A logistics space across more than 130 developments as of March 2026.

Asian investors have significantly increased their investments in equity funds during the first half of 2026, according to the latest data from Calastone, the largest global funds network. This marks a notable shift from the defensive stance of 2025, with US$7.3b poured into equity funds, a substantial rise from the US$0.8b recorded in the same period last year.

The data reveals a sharp reversal in fixed income fund flows, which saw net outflows of US$3.1b in H1 2026, contrasting with the strong inflows of 2025. Justin Christopher, Head of Asia at Calastone, noted, “One of the biggest changes we’ve seen this year is not simply stronger demand for equities, but a much weaker appetite for fixed income than we saw throughout 2025.”

Multi-asset funds emerged as the standout performer, attracting US$17b in net inflows, more than four times the combined net flows of equity and fixed income funds. This trend suggests investors are favouring diversification whilst increasing exposure to growth assets.

Despite ongoing geopolitical uncertainties, including trade tensions and conflicts in the Middle East, investors are focusing on long-term growth opportunities. Christopher added, “The sharp rotation away from fixed income alongside sustained demand for equities and multi-asset strategies suggests confidence is returning in a measured way.”

The shift in investment strategy indicates a growing comfort among investors to look beyond short-term macroeconomic events, driven by strong equity market performance and continued investment in AI and technology.

Visa has launched a revamped Visa Infinite card suite in Asia Pacific, aiming to cater to the evolving preferences of affluent consumers. The updated offering introduces a three-tier structure: Visa Infinite, Visa Infinite Privilege, and Visa Infinite Private, each designed to provide tailored experiences and benefits.

The refresh comes as affluent households in Asia Pacific are projected to grow at an 8% annual rate through 2030, with the region housing nearly 31% of the world’s ultra-high-net-worth individuals. Visa’s research indicates a shift in consumer priorities towards cultural immersion and personalised experiences over traditional luxury.

The new Visa Infinite suite combines intelligent payment capabilities with curated programmes in travel, dining, wellness, and entertainment. Partnerships with hospitality brands like Accor and Banyan Tree enhance access to premium experiences. T. R. Ramachandran, Head of Products & Solutions, Asia Pacific, Visa, stated, “The refreshed Visa Infinite brings together our scale, innovation, and partnerships to deliver more relevant and differentiated value for today’s affluent customers.”

Visa Infinite Privilege offers broader access and curated experiences, whilst Visa Infinite Private, an invitation-only tier, provides bespoke services for ultra-high-net-worth individuals. The suite’s benefits include elevated transaction limits, smart authorisation, and always-on security, ensuring a seamless and connected experience.

As affluent consumers increasingly seek health-focused and high-touch experiences, Visa’s enhanced offering aims to meet these demands, reflecting the growing influence of this demographic in the market.

CGS International Securities Pte. Ltd. has maintained its position as the leading broker in the ASEAN region, according to the 2026 Extel Asia Local Broker Survey. This accolade marks the second consecutive year the firm has achieved this status, based on votes from over 3,000 investment professionals across 826 institutions.

CGS International’s performance was particularly strong in Malaysia, where it was ranked the number one overall broker. The firm also secured top three positions in Thailand, Indonesia, and Singapore. Notably, it was ranked first in Trading & Execution in both Singapore and Malaysia, and first in Sales and Research in Malaysia. The firm achieved 156 ranked positions across 43 analysts, with 10 analysts securing number one rankings in sectors such as Chemicals, Oil & Gas, and Technology.

The firm’s success extends beyond rankings. Fitch Ratings has upgraded CGS International’s Long-Term Issuer Default Rating (IDR) and Shareholder Support Rating to ‘BBB’ and ‘bbb’ respectively, with a Stable Outlook. This upgrade reflects increased confidence in the firm’s strategic positioning and financial trajectory within the broader China Galaxy Securities franchise.

CGS International’s achievements in the survey and its upgraded ratings underscore its robust performance and strategic integration in the Asia-Pacific region. As the firm continues to excel, it solidifies its reputation as a leading force in the financial services sector.

The retail landscape is undergoing a significant transformation as malls and stores shift from traditional commerce centres to “third places”—spaces for community and cultural engagement. This evolution is driven by next-generation consumers, with 64% preferring in-store shopping, prompting retailers to rethink store formats and experiences.

Physical stores are now seen as critical touchpoints for brand engagement, where trust and consumer relationships are built. Sona Aggarwal, Managing Director – Head of Retail Sales and Strategy, APAC at Cushman & Wakefield, noted, “Consumers are forming opinions before they enter a store, which means the store has to deliver on a promise that has already been made online.”

South Korea exemplifies this trend, with areas like Myeongdong and Seongsu integrating beauty, wellness, and cultural services to create high-engagement destinations. These locations have maintained low vacancy rates, highlighting strong consumer interest and demand.

The shift towards experiential retail is also evident in the rise of pop-up stores in the Asia-Pacific region, which accounted for 32.4% of the global market, generating $4.8b in 2025. This trend is further supported by the integration of retail into mixed-use developments, enhancing the overall consumer experience.

Luxury brands are at the forefront of this change, transforming sales associates into long-term advisers and redesigning stores with private suites and concierge spaces. This approach aims to provide a more personalised and immersive shopping experience, aligning with the values of next-gen consumers who prioritise experiences over transactions.

As the retail sector adapts to these changes, physical spaces are increasingly becoming platforms for engagement and identity, reinforcing their role in shaping culture and community.

Short drama apps are transforming entertainment consumption in the Asia-Pacific (APAC) region, with Adjust’s latest report revealing a 452% year-over-year increase in app sessions. This surge underscores the growing popularity of bite-sized, mobile-first content, as APAC records the highest revenue per monthly active user globally at US$1.45, a 263% rise from 2025.

These apps, offering one- to two-minute episodes, are not replacing traditional streaming services but are instead creating new viewing habits. They cater to users during spare moments, such as commutes and coffee breaks. Platforms like DramaBox and ReelShort are rapidly gaining traction in markets like the Philippines and Indonesia, highlighting the global appeal of this entertainment format.

Globally, short drama apps saw 2.3 billion downloads in 2025, with a 186% increase in downloads by Q4 2025. Time spent on these apps also grew by 311% year-over-year, reflecting a significant shift towards mobile-first entertainment experiences.

April Tayson, Regional Vice President for INSEAU at Adjust, noted, “Entertainment is becoming increasingly diversified across the day. Consumers are filling spare moments with short, engaging content, and short drama apps have been built specifically for those behaviours.”

As these apps continue to gain momentum, they offer insights into the future of mobile entertainment. For marketers, understanding user behaviour beyond initial downloads is crucial. Adjust’s findings suggest that measuring engagement alongside acquisition will help marketers adapt to evolving consumer habits.

ANA Akindo Co., Ltd. and Mombetsu City in Hokkaido have partnered with All Nippon Airways Co., Ltd. (ANA) to launch a special inbound tourism campaign. Starting 14 July 2026, for a limited two-week period, travellers from Singapore, Thailand, Hong Kong SAR, and the Philippines can enjoy exclusive promotional fares when booking a combined itinerary to Tokyo and Mombetsu.

The initiative aims to make travel to Mombetsu more affordable than a standard flight to Tokyo alone. Mombetsu, located in northern Hokkaido, offers unique attractions such as ice drift cruises, fresh seafood from the Sea of Okhotsk, and opportunities to see seals amidst its vast natural landscapes.

Travellers can also take advantage of stopovers in Tokyo exceeding 24 hours without incurring additional airfare costs. This allows visitors to experience both the bustling urban environment of Tokyo and the tranquil beauty of Mombetsu. The campaign seeks to boost inbound tourism by highlighting the lesser-known charms of Mombetsu, encouraging more visitors to explore beyond Japan’s capital.

This collaboration between ANA and Mombetsu City is expected to attract a diverse range of tourists, enhancing the region’s appeal and potentially increasing tourism revenue. The special fares offer a unique opportunity for travellers to discover the contrasting experiences of Japan’s urban and rural landscapes.

Ransomware continues to pose a significant threat to small- and medium-sized businesses (SMBs) in Southeast Asia, according to the latest data from cybersecurity firm Kaspersky. In Q1 2026, 3.51% of SMBs in the region were targeted, an increase from 2.92% in the same period last year. Singapore saw a rise from 0.57% to 0.69%, highlighting the persistent risk these businesses face.

The report underscores that the true extent of ransomware threats is often understated. Ransomware attacks typically involve multiple stages, and only the final stage—deployment of the encryption Trojan—is recorded in detection metrics. This means earlier stages of attacks, such as initial access and reconnaissance, often go unreported.

Kaspersky’s Q1 2026 malware report also identified the most active ransomware groups. Clop ransomware led the rankings, responsible for 14.42% of victims on Dedicated Leak Sites (DLS). It was followed by Qilin at 12.34%, with The Gentlemen, a rapidly expanding group, taking third place.

Security expert Fedor Sinitsyn from Kaspersky warns that SMBs cannot afford to underestimate the complexity of ransomware threats. He emphasises the need for a layered cyber protection strategy, as modern ransomware actors often employ a “double extortion” approach, encrypting files and threatening to leak data if ransoms are not paid.

Adrian Hia, Managing Director for Asia Pacific at Kaspersky, highlights the increasing sophistication of ransomware attacks and the vulnerability of SMBs lacking dedicated cybersecurity resources. He stresses the importance of sustainable investment in cybersecurity to protect against these evolving threats.