Industry News

Companies across the Asia-Pacific (APAC) region are increasingly appointing internal candidates as CEOs, according to the latest Global CEO Turnover Index by Russell Reynolds Associates. This trend, observed in the first three quarters of 2025, shows that 83% of new CEO appointments in APAC are internal promotions, compared to 72% globally. The preference for internal candidates is seen as a strategic move to maintain stability and leverage institutional knowledge amidst a turbulent global business environment.

The report highlights a significant rise in first-time CEOs, with 97% of new hires in APAC being first-time leaders, reflecting a global trend where 88% of CEO appointments are first-timers. This shift suggests that boards are valuing fresh perspectives to navigate ongoing market complexities. Euan Kenworthy, leading Russell Reynolds Associates Southeast Asia operations, emphasised the importance of developing internal talent, stating, “For internal succession to succeed, organisations must proactively identify and develop high-potential talent.”

APAC has recorded 59 CEO departures so far in 2025, with Japan accounting for nearly half. The average tenure for outgoing CEOs in the region is now 5.9 years, shorter than the global average of 7.2 years. Notably, Singaporean CEOs have longer tenures, averaging 8.8 years, whilst Hong Kong sees shorter tenures at 3.7 years. This trend towards shorter tenures may be driven by the need for agility in response to rapid market changes and regulatory shifts.

As APAC companies continue to adapt to an evolving business landscape, the focus on internal leadership development and the rise of first-time CEOs highlight a commitment to agility and innovation, crucial for sustainable growth in uncertain times.

Brookfield Asset Management, a global investment firm managing over $1t in assets, has announced its inaugural investments in renewable energy across the Philippines, Vietnam, and Thailand. The firm has acquired Alba Renewables, a clean energy developer with a portfolio of 1.8 gigawatts (GW) in wind, solar, and battery storage assets, primarily located in the Philippines and Thailand.

The acquisition marks a significant step in Brookfield’s strategy to establish a decarbonisation platform in Southeast Asia, a region increasingly focused on transitioning to sustainable energy sources. The move aligns with global efforts to reduce carbon emissions and combat climate change, positioning Brookfield as a key player in the region’s renewable energy sector.

Finergreen, a financial advisory firm, supported Alba Renewables throughout the acquisition process, facilitating the transition and ensuring a smooth integration into Brookfield’s expanding portfolio.

This strategic investment underscores Brookfield’s commitment to sustainable development and its role in advancing clean energy initiatives in Southeast Asia. The firm’s focus on renewable energy is expected to contribute significantly to the region’s energy transition, promoting economic growth whilst reducing environmental impact. As Brookfield continues to expand its renewable energy investments, further developments in the sector are anticipated, potentially leading to increased energy security and sustainability in the region.

Singapore’s banks are emerging as early movers in Asia’s protein transition, according to a new benchmark released by Asia Research & Engagement (ARE). The report, titled “Banking Asia’s Protein Transition: Financing the Shift Towards Responsible and Sustainable Food and Agriculture Systems,” evaluates 24 major banks across Southeast Asia and India. It highlights Singapore’s DBS, UOB, and OCBC for their responsible-lending frameworks and deforestation-exclusion principles, though none have set measurable financing targets for plant-based proteins or other sustainable initiatives.

The benchmark underscores the importance of aligning food and agriculture lending with climate and nature targets. Kate Blaszak, ARE’s Director of Protein Transition, stated, “This benchmark provides a constructive starting point for banks to build understanding of intersectional risks in this critical sector.”

Whilst Singaporean banks have made strides, the report identifies significant gaps in sustainable finance. It calls for enhanced transparency and increased support for plant-based proteins, humane production, and deforestation-free supply chains. The report also notes that banks in Malaysia, Thailand, Indonesia, the Philippines, and India are at varying stages of integrating sustainability into their frameworks.

ARE emphasises the potential for banks to drive sustainable food production by adopting comprehensive responsible lending frameworks. Blaszak added, “Banks that act early can reduce systemic risks and unlock new sources of value.” The report suggests that by learning from regional peers and international models, Asian banks can play a pivotal role in the protein transition.

The Asia-Pacific region is poised for a substantial increase in 5G subscriptions, with numbers expected to surge from 2.7 billion in 2025 to 4.6 billion by 2030, according to GlobalData. This growth, at a compound annual growth rate (CAGR) of 11.4%, is attributed to the rapid adoption of affordable 5G devices and ongoing network rollouts in countries like India, Malaysia, and Thailand, alongside upcoming service launches in Pakistan and Sri Lanka.

Government initiatives and enterprise digital transformation efforts are accelerating 5G adoption across the region. Sarwat Zeeshan, a Telecom Analyst at GlobalData, highlighted that “government initiatives, enterprise digital transformation efforts, and growing demand for high-performance connectivity needed for evolving applications areas like smart manufacturing, autonomous mobility, cloud gaming, etc are accelerating standalone 5G deployments and driving 5G service adoption in the region.”

Countries such as Australia, China, India, South Korea, Japan, and Taiwan have implemented national 5G strategies to expand coverage and foster technological innovation. China, in particular, is set to remain the largest 5G market globally, with 75% of its mobile subscriptions expected to be on 5G by 2029, driven by significant investments and regulatory efforts to extend coverage to rural areas and industrial parks.

The expansion of 5G networks presents lucrative opportunities for telecom operators, enabling them to offer premium services and enterprise connectivity solutions. The integration of 5G with emerging technologies like AI and IoT is expected to drive innovation and growth in sectors such as health, manufacturing, and mining. Zeeshan concludes, “APAC has become the centre of the technological race for 5G+ supremacy.”

Manulife has announced significant leadership changes to strengthen its Global High-Net-Worth (GHNW) business and distribution capabilities across Asia. Effective 1 December 2025, Bonnie Qiu will become CEO of Global High-Net-Worth and Chief Partnership Distribution Officer, Asia. Currently the Chief Distribution Officer for Asia, Qiu will lead the high-net-worth business and continue overseeing partnership distribution, including bancassurance, international brokerage, and digital channels.

In a seamless transition, Qiu will work closely with Jean Wong, the current CEO of GHNW, who is set to retire in Q2 2026 after nearly 30 years with Manulife. Wong’s tenure saw the formation of GHNW in 2023 and the company’s entry into the Middle East market, establishing a Dubai office in the Dubai International Financial Centre.

Additionally, Rishi Srivastava, Chief Agency Officer, Asia, will join Manulife Asia’s senior leadership team immediately. Srivastava has been pivotal in advancing Manulife’s agency transformation strategy, focusing on training, recruitment, and technology to enhance productivity.

Both Qiu and Srivastava will report to Steve Finch, President and CEO of Manulife Asia. Finch remarked, “These leadership changes underscore our commitment to building a strong foundation for achieving high-quality, sustainable growth.”

With these appointments, Manulife aims to accelerate its strategic priorities and reinforce its leadership across the region, positioning itself for continued success in the evolving financial landscape.

Lazada, a leading eCommerce platform in Southeast Asia, has unveiled findings from a Cube Asia study highlighting a significant shift towards authenticity-driven, quality-first eCommerce in the region. The study, released at the LazMall Brand Gala, indicates that the market for authenticity-driven eCommerce is expected to grow from 12% in 2020 to 55% by 2030, reaching a value of $150b.

The survey, which included 6,000 consumers across Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam, found that 90% of online shoppers are engaging with Mall environments, reflecting a growing demand for trusted and quality products. Lazada’s brand-led strategy, anchored in its LazMall ecosystem, positions the platform to capture this market potential.

Key findings reveal that 90% of consumers are willing to pay a premium for authentic brand goods, with 31% prepared to pay 10–30% more. The study also identifies three dynamics driving this eCommerce surge: widening product assortment, omnichannel integration, and the use of AI in product discovery and comparison.

Lazada’s recent performance underscores its strategic success, with a 53% increase in million-dollar GMV brands since 9.9 and a 39% GMV uplift during the 11.11 sale. The platform’s average revenue per user rose by 70%, with buyer penetration reaching 65%.

As Southeast Asia enters a “Confidence Commerce” phase, Lazada’s strategy is set to lead the market towards a future defined by higher consumer expectations and authenticity guarantees. Iris Wei, President of Lazada Group, stated, “The findings from Cube Asia validate Lazada’s brand-led strategy and reinforce our commitment to building a high-trust, quality-first ecosystem.”

foodpanda has announced a 30% reduction in delivery partner accidents across the Asia-Pacific region since 2023, attributed to the expansion of its ‘panda hearts’ programme. This initiative, launched last year, focuses on the safety, well-being, and personal growth of delivery partners, combining education, equipment, and technology to ensure safer journeys.

The programme includes multi-layered, locally tailored efforts across 10 markets. Key initiatives involve safety workshops and traffic rule refreshers in Bangladesh, Cambodia, and Pakistan, as well as a Rider Safety Month in Singapore, which increased delivery partner satisfaction from 46.4% to 51.7%. Protective gear, such as safety kits and reflective decals, has been distributed in Singapore, Pakistan, and Taiwan, contributing to a 99.99% delivery safety rate in Taiwan.

Anson Chin, Senior Director of Logistics at foodpanda, stated, “Our sustained initiatives over the past two years have pushed a significant overall reduction in accident rates. This success is a testament to our long-term commitment to creating a safer environment for all our delivery partners on the road.”

In addition to training and gear, foodpanda offers free 24-hour accident insurance in Cambodia, Pakistan, and Laos. Collaborations with government agencies and traffic authorities in Cambodia, Hong Kong, Pakistan, and Singapore further bolster safety efforts.

Looking ahead, foodpanda plans to enhance traffic safety through localised campaigns, new in-app fatigue management alerts, and broader partnerships with governments and NGOs to promote road safety education.

Developers across Southeast Asia and India are rapidly teaching themselves artificial intelligence (AI), according to Agoda’s AI Developer Report 2025. The report indicates that 72% of developers are self-taught, with only 28% receiving employer-led training. This trend is accelerating skill growth but also exposing gaps in access and support across the region.

AI has become a pivotal force in career development, with 87% of developers altering their learning or career priorities due to AI’s influence. Despite the rapid pace of self-directed learning, formal training programmes are struggling to keep up. Peer learning has emerged as a crucial component of AI education, with 52% of developers turning to online communities and open-source projects.

However, the report highlights disparities in access to formal AI training. Developers in Singapore are nearly twice as likely to have access to such training compared to their counterparts in Vietnam. Additionally, a 25-point confidence gap exists between senior and junior engineers, underscoring the importance of mentorship and structured learning.

The fast-evolving nature of AI technology is also creating pressure, with 44% of developers concerned about falling behind. Furthermore, 58% now view AI proficiency as a baseline requirement for hiring. Idan Zalzberg, Chief Technology Officer at Agoda, emphasised the need for companies to build systems of trust and accountability to sustain this self-driven momentum.

Agoda is actively investing in upskilling local tech talent through initiatives such as internal AI hackathons, tech talks, and Tech Camp Day, which has empowered thousands of students in Thailand. The report, which includes insights from companies like Carousell and SCB 10x, offers a comprehensive view of AI adoption and integration in the region’s developer ecosystem.

Businesses across Asia Pacific (APAC) and Europe are gearing up for a promising holiday season, according to a recent survey by Federal Express Corporation (FedEx). Conducted in September 2025, the survey gathered insights from 850 small and medium-sized enterprises (SMEs) and 850 consumers in 13 APAC markets, alongside over 1,200 SMEs in nine European markets. The findings reveal that over 70% of APAC SMEs and 80% of European SMEs expect improved holiday sales compared to last year.

The survey highlights the significant impact of major shopping festivals like Double 11, Black Friday, and Cyber Monday. These events are seen as critical by 91% of APAC SMEs and 83% of European SMEs for capturing seasonal demand. Additionally, 88% of APAC consumers plan to conduct at least a quarter of their holiday shopping online, with more than half intending to increase their digital purchases compared to last year.

Efficient shipping remains a top priority for APAC shoppers, with nearly nine in ten citing it as essential. However, delivery delays and high shipping costs continue to be major pain points. More than half of APAC consumers indicated that lower shipping costs and faster delivery times would increase their likelihood of purchasing from European sellers.

To meet these expectations, nearly one-third of businesses in both regions are enhancing their fulfilment and delivery operations. Over one-third are also strengthening customer service capabilities. Encouragingly, 85% of businesses in both APAC and Europe are confident about meeting delivery deadlines this holiday season.

FedEx is supporting these efforts with integrated digital logistics solutions, such as FedEx Ship Manager integrations with Shopify and BigCommerce, and services like FedEx International Connect Plus. These tools aim to streamline order fulfilment and improve delivery speed and reliability, helping e-tailers deliver exceptional customer experiences during the busy holiday period.

Vantage Data Centres has finalised a $1.6b equity investment in its Asia-Pacific (APAC) platform, led by GIC and the Abu Dhabi Investment Authority (ADIA). This investment facilitated the acquisition of Yondr Group’s 300MW hyperscale data centre campus in Johor, Malaysia, announced on 24 November 2025. The acquisition enhances Vantage’s regional footprint, bringing its operational and planned IT capacity to 1GW across Australia, Malaysia, Japan, Taiwan, and Hong Kong.

The Johor campus, known as JHB1, spans nearly 73 acres and will provide over 300MW of IT capacity across three data centres once fully developed. Located within the Johor-Singapore Special Economic Zone, JHB1 offers strategic connectivity with dark fibre routes and access to regional hubs. Originally financed through a green loan, the campus incorporates sustainability-focused technologies, including direct-to-chip liquid cooling, and aims to meet EDGE certification standards.

Jeremy Deutsch, president of Vantage Data Centres APAC, stated, “Finalising the acquisition of this campus in Johor marks an important step in our growth strategy for APAC. We are bringing one of Southeast Asia’s largest and most advanced hyperscale campuses into our platform.”

The expansion is part of Vantage’s broader strategy to serve AI and cloud customers with sustainable and scalable infrastructure. The integration of more than 30 Yondr APAC team members into Vantage is expected to bolster the company’s capabilities in key markets such as Singapore, Indonesia, and Thailand.