Industry News

Private markets are undergoing a significant transformation as asset and wealth managers increasingly target retail investors, according to State Street’s latest Global Private Markets Survey Report. The study, which surveyed 480 senior executives globally, highlights that 84% of managers are either offering or planning to offer private market solutions tailored to individual investors. In the Asia Pacific region, this figure rises to 85%.

The report, titled “Resilience Meets Opportunity,” reveals that nearly six in ten institutions in Asia Pacific anticipate that at least half of their fundraising will come from retail-focused strategies within three years. Eric Chng, Senior Managing Director for Global Alternatives at State Street, noted, “It is a clear signal that the private markets industry is undergoing a structural shift, and retail will become a core component of industry growth.”

Despite a 47% decline in fundraising over the past year, the survey indicates that institutional investors remain committed to private markets. Globally, only 7% of respondents plan to reduce their exposure, whilst 50% intend to increase allocations. In Asia Pacific, 52% of investors are more likely to increase their private market allocations, with a notable interest in private credit strategies.

However, the expansion into retail markets brings challenges. Nearly 80% of respondents identified liquidity management as a key issue, alongside rising demands in compliance and reporting. Chng emphasised the need for improved cash flow forecasting and liquidity management, stating, “Investors are seeking deeper look-through, clearer fee and expense visibility, and stronger valuation governance.”

As private markets continue to evolve, the focus on operational maturity and scale is expected to be crucial in capturing a growing share of capital.

JLL has announced the appointment of Matt Bennion as the new Head of Project and Development Services (PDS) for Asia Pacific, effective immediately. Based in Singapore, Bennion will oversee the strategic direction and operational execution of JLL’s PDS business in the region, aligning with global objectives and regional goals. This appointment follows the retirement of Martin Hinge, announced in October 2025.

Bennion, with more than 30 years of leadership experience in the built environment sector, is expected to enhance JLL’s client-focused solutions in the dynamic commercial real estate market. Susheel Koul, CEO of Real Estate Management Services, Asia Pacific, JLL, stated, “Matt’s deep regional expertise, client-centric approach, and proven track record in business transformation position our team well to stay ahead of that curve.”

Previously, Bennion was the Founding Owner and CEO of Thrive-AI, a service provider focusing on intelligent buildings, and CEO of Reds10, where he repositioned the company as a disruptor in the UK construction market. He also served as COO and later CEO of Arcadis Asia, managing a team of 4,500 across 12 countries.

In his new role, Bennion will chair the APAC PDS Executive Committee and report to Cynthia Kantor, Global CEO for Project & Development Services. Kantor noted, “Matt will be a critical component in driving the execution of JLL’s Accelerate 2030 strategy across the region.”

JLL’s PDS offers integrated solutions across the project lifecycle, serving diverse sectors such as corporate offices, data centres, and retail. The appointment underscores JLL’s commitment to leadership talent and market-leading services in Asia Pacific.

Asia-Pacific’s mobile operators are rapidly decommissioning 2G and 3G networks to pave the way for advanced 4G and 5G services, according to GlobalData. This transition is not merely a technological upgrade but a strategic move to enhance competitive dynamics and support AI-driven networks and digital infrastructure, crucial for the region’s economic growth.

GlobalData’s Asia-Pacific Total Mobile Broadband Forecast reveals that 2G and 3G service penetration was already low in 2025, at 6% and 2% respectively, and is expected to decline further by 2030. In contrast, 4G and 5G services have seen significant uptake, with penetration rates of 56% and 63% respectively in 2025.

Several countries are leading this shift. In India, Bharti Airtel and Vodafone Idea have already shut down their 3G networks, whilst in Australia, Telstra, Optus, and TPG completed their 3G shutdowns in 2024. Singapore’s Singtel, M1, and StarHub followed suit, and New Zealand finalised its 3G shutdowns in early 2026.

Kantipudi Pradeepthi, a Telecom Analyst at GlobalData, stated, “The decommissioning of 2G and 3G networks will allow the mobile service markets in the region to fully benefit from improved connectivity, capacity, and innovation potential of 4G and 5G services.”

This strategic shift is expected to unlock new revenue streams across sectors such as manufacturing, transportation, and healthcare, ultimately strengthening Asia-Pacific’s digital competitiveness and fuelling sustainable economic growth.

Singapore-headquartered Chasen Holdings is reinforcing its strategic footprint in India through its subsidiary, Chasen Hi-Tech India, as the nation advances its semiconductor, solar, and electric vehicle (EV) battery sectors. The company is leveraging its expertise in precision relocation and technical engineering to support India’s burgeoning tech infrastructure.

India’s semiconductor ambitions are gaining momentum with the approval of several manufacturing facilities under the India Semiconductor Mission (ISM). Notably, Tata Electronics is establishing an approximately $11b semiconductor fabrication plant in Dholera, Gujarat, set to become the country’s first commercial chip fabrication facility.

In the renewable energy sector, Reliance Industries is developing a comprehensive ecosystem at its Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat. This facility will integrate solar module, battery storage, and other clean energy manufacturing capabilities.

The growing demand for EVs in India is also driving the need for large-scale battery manufacturing. Chasen has secured an $18m expansion project for a Japanese EV battery manufacturer in the US, showcasing its global expertise in this field.

Chasen’s Managing Director and CEO, Low Weng Fatt, stated, “India is no longer a frontier market for Chasen, it is a core growth pillar. The projects secured in FY2027 are just the beginning. We are investing in our India capabilities with a long-term view, and we are confident that the country will deliver sustained, meaningful contributions to Chasen’s earnings and shareholder value in the years ahead.”

Chasen’s expansion in India is set to enhance its regional network, which spans Singapore, Malaysia, Vietnam, China, India, and the United States, positioning the company as a key player in the region’s tech transformation.

DBS and the Climate Bonds Initiative (CBI) have released a report detailing a framework for banks and businesses to finance climate resilience investments in the Asia-Pacific region. As climate change increasingly impacts the financial landscape, the report, titled “Adaptation and Resilience: Exploring Investable Opportunities in Asia-Pacific,” aims to bridge the gap between the need for and the availability of adaptation and resilience (A&R) financing.

The report highlights that annual costs associated with physical climate risks for companies in Asia are expected to reach US$336b by the 2030s. Despite this, less than 10% of global climate finance supports A&R, with a mere 11% of that coming from the private sector. Asia accounts for 69% of global adaptation financing needs and 75% of the financing gap by 2030.

The report introduces a structured approach to assessing climate resilience investments, focusing on four key sectors: commercial real estate in India, data centres in Singapore and Malaysia, power infrastructure in coastal China, and transport corridors in Taiwan. It emphasises the need for localised resilience measures whilst promoting standardisation to support investment decisions.

Kelvin Wong, Chief Sustainability Officer at DBS, stated, “We believe the transition to a low-carbon economy must go hand-in-hand with adaptation.” Sean Kidney, CEO of CBI, added, “Adaptation and resilience is moving from the margins into the core of banking strategy and risk management.”

The publication marks a significant step in the partnership between DBS and CBI, with future plans to embed adaptation and resilience considerations across DBS’s business operations.

Women-founded startups across Southeast Asia have collectively raised $16.5b in equity funding, according to a new report by Tracxn. The list, released in June 2026, highlights 25 companies from Singapore, Indonesia, and Malaysia, showcasing the significant role women entrepreneurs play in the region’s tech economy.

Leading the list is Grab, co-founded by Hooi Ling Tan, which has raised $10.4b and achieved a public listing. Airwallex follows closely with $1.6b raised and a valuation of $12b. These companies, among others, span a wide range of sectors including logistics, fintech, aquaculture, drone services, and fashion tech, reflecting the diverse areas where women are making substantial impacts.

The report underscores the growing influence of women in shaping Southeast Asia’s technology landscape. With 15 companies based in Singapore, nine in Indonesia, and one in Malaysia, the list includes businesses at various stages of development, from Series A funding rounds to public listings.

Tracxn, a global market intelligence platform, compiled the list using its extensive private market data. The platform tracks over 8 million entities worldwide, providing insights into industry trends and company performances. This latest report not only highlights the financial achievements of these startups but also emphasises the breadth of innovation driven by women in the region.

As these companies continue to grow and innovate, they are expected to further influence the tech economy in Southeast Asia, paving the way for future women entrepreneurs.

Investors in the Asia Pacific (APAC) living sector are increasingly focusing on how to invest rather than where, according to Savills’ latest report for Q2 2026. The report identifies five key investment strategies that are shaping the sector amidst changing market conditions and capital dynamics.

The strategies include distressed and adaptive reuse conversions, ground-up development, platform mergers and acquisitions (M&A), and direct acquisition. Japan remains a mature market for stabilised multifamily assets, with around 35% of major transactions involving overseas investors. In Australia, build-to-rent (BTR) developments and office conversions are gaining traction, with projects like Brisbane’s 41 George Street delivering over 1,180 student accommodation beds.

Hong Kong leads in hotel-to-living conversions, with 13 hotel transactions worth $819m (HK$6.4b) in the past year. These conversions are primarily into student accommodation and co-living spaces. Meanwhile, Singapore sees a rise in platform acquisitions and adaptive reuse, with companies like Habyt and The Assembly Place taking the lead.

Nicholas Wilson, Senior Director at Savills, emphasised the importance of execution in investment strategies, stating, “APAC living is not a single trade. Execution is now the differentiator.”

The report underscores that whilst short-term opportunities arise from dislocation in hotels and offices, long-term demand in the living sector is driven by demographic shifts and urbanisation. As the market evolves, investors are selecting strategies that align with each market’s fundamentals and regulatory environment.

Antler has unveiled 28 startups from Korea, Japan, and Southeast Asia in its Asia Regional Portfolio Showcase, highlighting a shift towards autonomous systems capable of executing complex tasks independently. More than half of these startups are developing AI agents and AI-native businesses across sectors such as enterprise software, robotics, healthcare, and logistics.

The showcase, Antler’s largest in Asia, demonstrates the rapid pace of AI-driven company building, with startups reaching commercial traction in a median of just 10 months. This acceleration is attributed to AI advancements enabling smaller teams to achieve significant milestones with fewer resources. “Every industry is about to get a new workforce,” said Jussi Salovaara, Co-Founder and Managing Partner, Asia at Antler. He emphasised the transformative potential of AI in both digital and physical realms.

The startups span various categories, including Agentic Enterprise AI, AI Infrastructure, and Healthcare AI. Notable companies include CONPA, which develops AI-powered construction cost estimating agents, and IndustrialMind, which creates AI manufacturing engineers. These innovations reflect a broader trend of moving beyond AI tools to systems capable of autonomous decision-making.

Antler’s strategy unifies Korea, Japan, and Southeast Asia into a single platform, fostering collaboration among founders, investors, and customers. This approach aims to build foundational infrastructure for the next decade, positioning Asia at the forefront of AI innovation. As Salovaara noted, “They are building for what comes after the current wave of AI hype settles.”

Singapore travellers have made travel a key focus in the first half of 2026, with Trip.com Group data revealing a double-digit year-on-year growth in outbound bookings. Popular destinations include cosmopolitan cities such as Shanghai, Tokyo, and Taipei, which have topped the list for flight bookings.

In June, short-haul destination bookings increased by 3% year-on-year, with Singaporeans planning their trips earlier. The average booking window has extended to 63 days, indicating growing confidence in travel planning. Additionally, mid-haul and long-haul bookings have each grown by 21% year-on-year, showcasing an interest in more extensive travel.

Family travel is on the rise, with hotel bookings involving children increasing by 11% year-on-year. A recent survey by Trip.com Group highlighted that family travel is the most appealing experience for Singaporeans, particularly among older Millennials aged 35 to 44. Attractions such as Universal Studios Singapore and Gardens by the Bay continue to see strong demand.

To enhance the summer holiday experience, the Hong Kong Tourism Board has partnered with Trip.com Group to offer promotions on attractions and transport. From 15 June to 31 August, travellers can enjoy discounts of up to 50% on bundled offers, including attraction tickets and transport deals.

This trend reflects a sustained demand for travel, with Singaporeans showing a preference for familiar destinations and family-friendly experiences. The collaboration with the Hong Kong Tourism Board further enriches the travel options available to Singaporeans this summer.

The London Stock Exchange Group (LSEG) has announced that the global green economy has exceeded US$10t in market capitalisation for the first time, according to its latest report, “Investing in the Green Economy 2026: Resilience and Reacceleration.” This achievement positions the green economy as the world’s third-largest industry by market cap, trailing only Technology and Industrials.

The report highlights significant contributions from Asia, which leads in green revenues, accounting for 47% of the global total in 2025. China, Japan, Hong Kong, and South Korea are key players, with China alone generating over half of the global green revenues in electric vehicle batteries and railway infrastructure. Asia’s green revenues have grown at a compound annual growth rate of 12% over the past five years, surpassing the global average of 10%.

Despite the US maintaining dominance in market capitalisation at US$6t, its share of green economy revenues is less concentrated, with 27% of the global total. Meanwhile, China and Japan follow with 19% and 13%, respectively. The report also notes a record increase in green bond issuance, reaching US$605b in 2025, with the Asia-Pacific region experiencing the fastest growth at 42% year-on-year.

The LSEG report underscores the ongoing importance of energy security in shaping Asia’s energy mix, given its reliance on imported fossil fuels. However, the region remains a significant destination for clean energy investment, with China and India leading the charge.

As the green economy continues to expand, mergers and acquisitions are becoming a crucial mechanism for scaling the green transition, with European acquisitions in Asia on the rise. The report concludes that since 2008, the green economy has outperformed global equities by 133%, demonstrating strong long-term performance despite market volatility.