Industry News

Colliers has announced the appointment of Oliver Rigg as Executive Director of Occupier Services for North Asia, a strategic move aimed at bolstering the firm’s presence in the region. Based in Hong Kong, Rigg will oversee operations across Mainland China, Hong Kong, Taiwan, Japan, and Korea, with a focus on expanding the company’s Office Leasing business.

Mike Davis, Managing Director of Occupier Services, Asia Pacific, stated, “Oliver’s appointment reinforces our commitment to delivering best-in-class solutions for occupiers across Asia Pacific. His leadership and proven track record will be pivotal in driving growth and unlocking opportunities for our clients across North Asia.”

Rigg, who brings over 15 years of leadership experience in the Asia Pacific region, is well-versed in advising tenants and landlords across various sectors, including office, retail, and industrial and logistics. His expertise encompasses leasing, transaction management, portfolio management, occupier consulting, and workplace strategy. Rigg’s leadership is expected to enhance client engagement and promote technology solution initiatives throughout the region.

Expressing his enthusiasm, Rigg commented, “I’m excited to join Colliers and be part of the ongoing growth of our Occupier Services business. This is a fantastic opportunity to collaborate with talented teams, deliver innovative solutions for our clients, and accelerate growth in this dynamic region.”

As office demand in the Asia Pacific region continues to rise, Colliers’ strategic appointment of Rigg aims to capitalise on the momentum, positioning the firm for accelerated growth and enhanced service delivery in North Asia.

Atome, Southeast Asia’s leading digital finance platform, has announced the successful closure of a US$345m upsized syndicated debt facility, a substantial increase from the US$200m secured in 2024. This facility, supported by HSBC as Structuring Bank and Mandated Lead Arranger and Bookrunner, with DBS joining as a new Mandated Lead Arranger and Bookrunner, aims to accelerate Atome’s growth across key Southeast Asian markets including Singapore, Malaysia, and the Philippines.

The expanded facility will bolster Atome Financial’s regional portfolio and products such as its Buy Now Pay Later (BNPL) lending and the Atome Pay Later Anywhere Card. New lenders Fubon Bank and Shanghai Pudong Development Bank have joined existing partners like Sumitomo Mitsui Banking Corporation, Baiduri Bank, and Cathay United Bank in this financial endeavour.

Andy Tan, Chief Commercial Officer at Atome, expressed gratitude for the support from both new and returning lenders, stating, “This facility has grown significantly within a year. We’re now even better positioned to support a rapidly growing, healthy, and profitable loan book whilst scaling transparent and flexible credit solutions.”

Atome’s financial performance in FY2024 showed a 63% year-on-year increase in operating income to US$236m, with a 50% rise in gross merchandise value (GMV) to over US$2b. The growth momentum continued in 2025, with annualised net revenue surpassing US$500m and GMV reaching US$6b.

Atome, part of the Singapore-headquartered Advance Intelligence Group, continues to expand its services, backed by investors such as SoftBank Vision Fund 2 and Warburg Pincus.

Singapore-based fintech company HitPay has partnered with Primer, a global payments infrastructure provider, to facilitate faster international expansion for Southeast Asian merchants. This strategic alliance aims to address the challenges faced by local businesses in accessing global markets, particularly in the US and Europe, by providing seamless payment solutions.

The partnership comes at a crucial time as many Singaporean small and medium-sized businesses (SMBs) are compelled to expand overseas due to economic pressures. According to the Singapore Business Federation, 40% of businesses anticipate a worsening economy in 2026, with 22% experiencing a credit crunch. HitPay’s collaboration with Primer offers these businesses access to a unified payment infrastructure, reducing transaction failures and improving cash flow.

Key benefits of this partnership include the ability for merchants to instantly activate US and EU payment methods, ensuring successful transactions with Western customers. Last year, HitPay’s solutions helped merchants save over $10m in costs, a significant advantage in a tight credit environment.

Aditya Haripurkar, CEO of HitPay, highlighted the transformative impact of the partnership, stating, “Accelerated access to new markets and local-level payment performance will be transformative for our fast-growing merchants.” Gabriel Le Roux, CEO of Primer, added, “By partnering with HitPay, we’re opening new markets for their merchants and laying the foundation for long-term global expansion.”

The collaboration also benefits Primer, as HitPay integrates into its Primer for Partners programme, allowing global merchants to tap into Southeast Asia’s diverse payment landscape. This two-way partnership aims to replace payment complexities with resilient infrastructure, enabling merchants to expand internationally without compromising performance or speed.

Nielsen has announced the appointment of Matty Lin as the APAC regional sales leader, effective immediately. Lin, who will be based in Singapore, joins from TikTok/Bytedance, where he was General Manager of Global Business Solutions for Southeast Asia and South Korea. In his new role, Lin will oversee Nielsen’s Commercial Organisation across Asia and the Pacific, reporting directly to Chief Revenue Officer Amilcar Perez.

Lin’s extensive experience includes leading commercial strategy and innovation, with a focus on regional profit and loss management. He has a proven track record in building high-performing teams and driving transformational growth in global markets. Lin expressed his enthusiasm for joining Nielsen, stating, “APAC is one of the most dynamic and diverse regions in the world, and as consumer habits evolve at unprecedented speed, the need for accurate, independent, and future-ready measurement has never been greater.”

Perez highlighted Lin’s expertise in advertising, technology, and platform innovation as key assets for Nielsen. “I’m confident that Matty’s experience will bring value to our APAC team and help deepen Nielsen’s influence in shaping industry standards,” Perez said.

Lin holds a Bachelor’s degree in Finance and a Master’s degree in Integrated Marketing and Communications from Northwestern University. His appointment is expected to strengthen Nielsen’s position in the rapidly evolving APAC market, with a focus on digital and cross-media audience measurement and AI-driven advancements.

Singapore Gulf Bank (SGB) has strengthened its partnership with J.P. Morgan by joining its USD clearing network and implementing the Wire 365 service. This move allows SGB to provide uninterrupted, near real-time cross-border payment services, enhancing its clients’ ability to manage global liquidity effectively.

The collaboration marks a significant advancement for digital banking in the Middle East and North Africa (MENA) region. By integrating J.P. Morgan’s Wire 365 solution, SGB can now process USD transactions every day of the year, including weekends and public holidays. This eliminates traditional cut-off times, offering clients greater flexibility in optimising cash flows and meeting payment obligations efficiently.

Ali Moosa, Executive Vice Chairman of SGB, commented, “This collaboration is a major step forward for digital banking in the Gulf Corporation Council and further strengthens our position as the financial bridge between Asia and the Gulf.” He emphasised that joining J.P. Morgan’s global network ensures clients’ capital moves with the speed, certainty, and security required in today’s global economy.

Nawaf Humood, Executive Director at J.P. Morgan Payments, added, “We are pleased to provide Singapore Gulf Bank with the Wire 365 payment solution. This collaboration highlights SGB’s expanding position as a leading digital bank in the market.”

The partnership was formalised at a signing ceremony in Bahrain, marking another milestone for SGB, which recently launched its corporate banking service and a real-time, multi-currency clearing network. This development underscores SGB’s commitment to innovation and positions it at the forefront of digital transformation in the financial sector.

Agoda, the digital travel platform, has unveiled its latest innovation, the Booking Form Bot, an AI-powered chatbot designed to assist travellers with booking-related queries during the final stages of their reservation process. This new tool aims to streamline the booking experience by providing instant, context-aware answers to common questions, such as cancellation policies and promo code applicability, directly on the booking page.

Agoda’s internal research highlighted that 28% of users often return to the property page to verify trip details, with many pausing or exiting due to uncertainties about pricing and cancellation terms. The Booking Form Bot addresses these concerns by automatically understanding the user’s booking session, including property details and rate plans, to deliver precise and personalised responses without requiring users to navigate away from the page.

Idan Zalzberg, Chief Technology Officer at Agoda, stated, “Helping travellers stay informed at every step of their journey is central to building trust in our platform. At the booking stage, last-minute questions often arise around cancellation options or payment terms. The Booking Form Bot provides instant answers right when travellers need them, helping them book with confidence.”

This development builds on the success of Agoda’s Property AMA Bot, which handles over 30,000 hotel-related queries daily. By integrating AI technology into the booking process, Agoda continues to enhance its platform, making travel planning more intuitive for millions worldwide. Travellers can access the Booking Form Bot via the chat icon on the booking form page through the Agoda app and mobile browser.

Cosmo, a leader in performance textiles and advanced materials for the footwear and apparel industry, has announced the appointment of Mark Griffie as its new Chief Executive Officer, effective 1 January 2026. Griffie, who brings over two decades of experience from Nike, succeeds Josh VanDernoot, who will retire after six years but remain on the board as an adviser.

Griffie joined Cosmo in 2024 and has been instrumental in driving growth and sustainable innovation. His extensive background includes overseeing Nike’s global procurement of materials valued at over $8b. “Mark is a proven leader with deep operating expertise,” said Doug Dossey, Chairman of the Board. “He has the full confidence of the Board and the leadership team.”

VanDernoot expressed pride in the platform built during his tenure, stating, “The business is strong, the team is deeply capable, and Mark is well prepared to lead the business in its next phase.” Griffie, based in Singapore, emphasised continuity in Cosmo’s priorities, focusing on operational excellence and customer engagement.

Cosmo, known for its innovative and sustainable material solutions, operates manufacturing facilities in China, Vietnam, and Indonesia. The company is committed to supporting its partners through reliable execution and collaboration. With Griffie at the helm, Cosmo aims to strengthen its commercial and operational foundations, ensuring continued leadership in the dynamic footwear and apparel value chain.

Ant International, a prominent global payment and financial technology provider, has announced a collaboration with Google to launch the Universal Commerce Protocol (UCP). This new open standard aims to streamline agentic commerce across the entire shopping journey, from discovery to post-purchase support. The partnership seeks to establish a common language for agents and systems, enabling seamless interaction across consumer surfaces, businesses, and payment providers.

UCP is designed to work across various sectors and is compatible with existing industry protocols such as Agent2Agent (A2A) and Agent Payments Protocol (AP2). Ashish Gupta, VP/GM of Merchant Shopping at Google, emphasised the importance of aligning on a common set of standards for agentic commerce to scale, stating, “We are proud to have Ant International endorse the Universal Commerce Protocol as the foundation for that future.”

The protocol will power AI surfaces like the Gemini app and AI Mode in Google Search, allowing users to complete purchases directly within chat interfaces. This development promises a faster, simpler, and more frictionless shopping experience. Jiang-Ming Yang, Chief Innovation Officer at Ant International, expressed enthusiasm for the collaboration, highlighting the creation of unique agentic commerce solutions that deliver seamless user experiences and drive business growth.

Ant International’s solutions focus on three key areas: control over algorithmic engagement, a seamless agent-native experience, and trust throughout the shopping journey. The company leverages its expertise in alternative payment methods and digital wallets to support these initiatives. With operations in over 200 markets, Ant International continues to invest in developing new agentic protocols to ensure secure and automated transactions among intelligent agents.

Willis, a WTW business, has announced significant leadership appointments across Asia to bolster its speciality businesses in the region. Effective immediately, Nicki Tilney will focus solely as Head of Natural Resources, Asia, whilst Iris Chan takes on the role of Head of Construction, Asia. Sui Jin Wong has been appointed as Deputy Head of Construction, Asia, and Steve Hutchinson will lead Corporate Risk and Broking (CRB) in Hong Kong and Macau.

These strategic appointments aim to address the growing complexities and opportunities within the natural resources and construction industries in Asia. Nicki Tilney, previously overseeing both sectors, will now concentrate on natural resources, reflecting the sector’s strategic importance amidst the global energy transition. Iris Chan will continue to manage Willis’ construction business in Hong Kong and Macau, with Sui Jin Wong supporting her in expanding the business across Asia.

Iain Drennan, Head of Construction, Asia Pacific at Willis, commented on the appointments, stating, “Both Iris and Sui Jin have established track records in leading our construction business in Asia. Iris is devoted to seeking innovative and the best risk transfer solutions for our clients, including infrastructure, superstructure, hospitality, energy and power projects in the region.”

Steve Hutchinson, alongside his role as Head of Property & Casualty in Hong Kong and Macau, will now oversee all aspects of Willis’ business in these territories, enhancing the company’s risk resilience offerings.

Luke Ware, Head of Asia at WTW, remarked, “These leadership changes and appointments mark a pivotal step in advancing our ambitious long-term strategy for Asia. By deepening our speciality expertise and expanding our leadership bench, we are better positioned to deliver more innovative, client-focused solutions and prepare our clients for a changing tomorrow.”

Greater use of technology and third-party support is significantly enhancing risk visibility for insurers in the Asia-Pacific (APAC) region, according to new research by Clearwater Analytics. The study, which surveyed insurance asset management executives managing a total of $3.82t in assets, found that 75% of respondents reported improved risk visibility over the past two years, with 95% rating their firm’s risk visibility as excellent or good.

The improvement is largely attributed to platforms that integrate data from multiple sources and the ability to adapt models and analytics to changing market conditions. Regulatory compliance demands are a major driver of technology spending, making enhanced risk visibility a business imperative for APAC insurers.

Executives from life and health insurers, general insurers, and third-party investment firms in Hong Kong, Singapore, and Australia highlighted the role of specialist third parties in improving risk visibility. Over the next 12 months, 73% of APAC insurers expect significant increases in risk/reward levels for private equity and venture capital.

However, 18% of firms reported a decline in risk visibility, citing sophisticated investment strategies and a broader range of asset classes as contributing factors. Notably, 40% of third-party firms experienced a decline, compared to just 6% of life/health firms and 2% of general insurers.

Shane Akeroyd, Chief Strategy Officer and President of Asia Pacific at Clearwater Analytics, stated, “APAC insurers are working hard to improve risk visibility with technology and support from specialist third parties key to the improvements over the past two years.” The study underscores the importance of technology and data integration in navigating regulatory pressures and expanding investment portfolios.