Industry News

Visa’s 2026 Global Travel Intentions study reveals that Asia Pacific travellers are adapting to global shifts by prioritising familiar and practical travel plans. Conducted among over 47,000 respondents worldwide, including more than 17,000 from Asia Pacific, the study shows that 63% of respondents travelled within the region, favouring destinations like Japan, Australia, and Thailand.

Japan emerged as the top destination, with 19% of respondents visiting, and 28% planning to travel there in the next 12 months. The study also highlights a growing interest in unique local experiences, with 37% of Asia Pacific respondents planning trips around food and culture, surpassing the global average of 29%.

Travellers are increasingly using AI tools for planning, with 49% employing them to discover destinations and ideas. Payment security remains a priority, with 73% of travellers carrying cards or mobile wallets. Despite strategic planning, travellers maintain flexibility, with 79% booking accommodations in advance but only 51% pre-booking experiences.

Danielle Jin, Visa Asia Pacific’s Chief Marketing Officer, noted, “Travel is not slowing—it is becoming more planned, purposeful, and intentional.” The study underscores the importance of enabling secure and seamless payment experiences for digital-first travellers. Visa continues to support global events, enhancing cross-border commerce through innovative payment solutions.

Jardine Matheson Holdings has announced a bold investment strategy aimed at achieving a 9% annual Total Shareholder Return (TSR) by 2030. The strategy includes a US$500m share buyback programme running until 2027, and a commitment to grow dividends by at least 5% annually.

The company plans to recycle US$4b from its portfolio, excluding commitments from Hongkong Land and Astra, and aims to generate an additional US$200m in profit after tax and minority interests through inorganic acquisitions. CEO Lincoln Pan emphasised the company’s focus on building a diverse portfolio of high-quality businesses in the Asia Pacific region. “We are working toward building a diverse, sustainable portfolio of quality assets with a target of delivering greater than 9% p.a. five-year TSR,” he stated.

Jardine Matheson is also refining its investment focus, seeking market-leading businesses that can scale in Asia Pacific and leverage technology like artificial intelligence for growth. The company aims for investments that are cash generative and growth accretive, with a pathway to US$100m in profit within five years.

The firm has already made strides in its transformation, including the privatisation of Mandarin Oriental and a US$2.4b investment in I-MED. These moves are part of Jardine Matheson’s strategy to simplify its corporate structure and enhance earnings quality.

As Jardine Matheson continues to evolve, its leadership remains committed to delivering substantial returns and maintaining accountability to its ambitious targets.

InnoTek Limited, a precision metal components manufacturer listed on the Singapore Exchange, has announced the incorporation of Mansfield Technology (Thailand) Co., Ltd. This new subsidiary, located in Chonburi, Thailand, aims to support InnoTek’s first liquid cooling project and expand its presence in the AI infrastructure sector. The facility, with a paid-up capital of THB 100m (S$3.9m), is set to begin operations in August 2026.

The new facility will focus on CNC machining for liquid cooling components used in AI servers and rack infrastructure. This development is part of InnoTek’s strategy to strengthen its manufacturing capabilities in Southeast Asia. The company has secured an initial project with an established customer, with mass production expected to start in October 2026.

InnoTek plans to invest approximately S$7.5m in capital expenditure for this project, which includes acquiring advanced CNC machining equipment and automation systems. Executive Director and CEO Lou Yiliang stated, “The establishment of Mansfield Technology Thailand marks another important step in our expansion into higher-value manufacturing segments.”

The facility will complement InnoTek’s existing operations in Rayong, Thailand, which is undergoing a significant expansion. The advanced machining capabilities at the new subsidiary are also expected to open opportunities in robotics and humanoid technologies, aligning with the company’s long-term growth strategy.

Kaopiz Holdings and QuantumTX have signed a Memorandum of Understanding (MOU) to co-develop AI-powered Internet of Things (IoT) healthcare solutions, targeting Asia’s ageing population. The agreement was formalised on 29 May at the Vietnam-Singapore Tech Connect Forum in Singapore, attended by top government officials from both countries.

The collaboration combines QuantumTX’s MitoCharge technology, which offers exercise benefits without physical stress, with Kaopiz’s expertise in software, AI, and IoT engineering. This partnership aims to create preventive healthcare solutions that leverage advanced health data platforms.

QuantumTX’s CEO, Ivan Goh, highlighted the significance of the partnership, stating, “Partnering with Kaopiz accelerates our next-generation product development whilst opening the door for MitoCharge technology to reach users across Vietnam and Southeast Asia.”

The collaboration focuses on three strategic pillars: IoT device and software development, technical support and information exchange, and joint market development. Kaopiz will integrate AI, cloud computing, and data analytics into QuantumTX’s medical devices, enhancing predictive health insights and remote patient monitoring.

Kaopiz’s CEO, Le Van Hoang, expressed commitment to the project, saying, “Population ageing is a shared challenge that both Vietnam and Singapore must solve, and we believe technology is the key.”

This partnership marks a significant step in Vietnam-Singapore technology cooperation, translating government-level commitments into tangible healthcare innovations. The initiative aims to address demographic challenges and improve healthcare accessibility for ageing populations in the region.

Fortinet has announced the launch of its new Network Detection and Response (NDR) cloud Point of Presence (PoP) in Singapore, aimed at bolstering threat detection capabilities across the ASEAN region. This strategic move is designed to enhance cybersecurity measures by providing faster and more efficient threat detection and response services to businesses operating in the area.

The introduction of the Singapore NDR cloud PoP is part of Fortinet’s ongoing efforts to strengthen its cybersecurity infrastructure in Southeast Asia. By establishing a local PoP, Fortinet aims to reduce latency and improve the speed of threat detection, which is crucial for businesses facing increasingly sophisticated cyber threats. The new PoP will enable organisations to better protect their networks by leveraging Fortinet’s advanced threat intelligence and machine learning capabilities.

With cyber threats on the rise, the establishment of the Singapore NDR cloud PoP is expected to play a critical role in enhancing the cybersecurity posture of businesses in the region. As Fortinet continues to expand its presence and capabilities, organisations can anticipate improved protection against evolving cyber threats, ensuring the security and integrity of their digital assets.

A recent survey by IDC InfoBrief, commissioned by Expereo, highlights a significant trend in the Asia Pacific (APAC) region where enterprises are aggressively investing in artificial intelligence (AI) primarily due to the fear of missing out, rather than proven results. The survey, which included 800 technology leaders from APAC, Europe, and the US, found that 70% of organisations are motivated by AI’s potential or the fear of lagging behind competitors, yet many lack a disciplined approach to evaluating return on investment (ROI).

In APAC, the pressure to invest is particularly intense, with 37% of organisations admitting to aggressive AI investment with minimal evaluation—nearly double the global average. Countries like Australia and Vietnam are leading this trend, with 45% and 44% of organisations respectively acknowledging such investments. Despite the enthusiasm, only 19% of global organisations report that their AI implementations have exceeded expectations.

The survey identifies several challenges hindering AI success, including inadequate training data, higher-than-expected costs, and underperformance of AI systems. In APAC, 54% of organisations cite cost overruns as a significant issue, with Malaysia experiencing the highest impact at 80%.

Expereo’s CEO, Ben Elms, emphasises the importance of robust network infrastructure to support AI initiatives, stating, “AI only delivers on its promise when the infrastructure carrying it is built to support it.” The survey also notes that only 9% of APAC organisations feel their network infrastructure is fully prepared for AI, highlighting a critical area for improvement.

As AI adoption continues to rise, with 35% of APAC organisations reporting extensive use, the focus is shifting towards ensuring that underlying networks and infrastructure are capable of supporting AI at scale. Eric Wong, President of APAC at Expereo, notes that addressing these foundational issues early leads to stronger outcomes and faster operational impact.

The survey also raises concerns about the long-term risks of unchecked AI investment, with 54% of global tech leaders worried about new security risks and 39% concerned about losing track of AI-related costs and ROI. In APAC, digital sovereignty is becoming a strategic priority, with 38% of organisations rating it as a high concern amidst a complex regulatory landscape.

DKSH Business Unit Healthcare has announced a strategic distribution partnership with BridgeBio, a biotechnology company specialising in genetic diseases. This collaboration aims to facilitate the regulatory evaluation and potential patient access to a transthyretin stabiliser for transthyretin-mediated amyloidosis (ATTR-CM) across Australia, Singapore, South Korea, and Taiwan. The partnership combines BridgeBio’s biotech innovation with DKSH’s comprehensive commercialisation platform.

The transthyretin stabiliser is intended for treating cardiomyopathy in adults with wild-type or variant ATTR-CM, a progressive disease that significantly impacts quality of life and can lead to premature death. Currently, the treatment is not approved in the regions covered by the agreement, and its commercialisation will depend on obtaining necessary regulatory approvals.

DKSH will leverage its expertise in regulatory affairs, medical affairs, market access, and distribution to support the introduction of this treatment. Patrik Grande, Global Head of Business Unit Healthcare at DKSH, stated, “Our strategic partnership with BridgeBio represents an important milestone as DKSH Healthcare enters a new chapter with a renewed vision for growth.”

With over 160 years of experience, DKSH is a leading provider of Market Expansion Services, operating in 35 markets with a workforce of 26,840 specialists. In 2025, DKSH’s Business Unit Healthcare generated net sales of CHF 5.8 billion, distributing pharmaceuticals, consumer health products, and medical devices. This partnership marks a significant step in expanding access to innovative treatments in the Asia-Pacific region.

The World Health Organisation (WHO) has called on Asia-Pacific countries to strengthen their emergency workforce capacities to better manage shared health risks. This appeal follows a comprehensive regional analysis presented at the Asia Pacific Health Security Action Framework Stakeholders Meeting in Kuala Lumpur, Malaysia, attended by over 100 delegates from 49 countries.

The analysis, which synthesised insights from 21 strategic risk assessments and over 800 experts, emphasised the need for proactive investment in emergency workforce preparedness. The region faces a complex landscape where climate hazards, disease outbreaks, and geophysical events increasingly overlap, creating devastating impacts on health systems and communities.

Key findings revealed that more than half of the participating countries identified flooding, cyclones, dengue, and pandemic-potential respiratory pathogens as high-risk threats. WHO Regional Director for the Western Pacific, Saia Ma’u Piukala, stated, “Isolated health interventions are no longer sufficient,” highlighting the interconnected nature of these hazards.

To address these vulnerabilities, WHO recommends several strategic actions, including bridging workforce capacity gaps, fostering multisectoral coordination, securing sustainable financing, enabling emergency-ready primary health care, ensuring inclusive emergency planning, and optimising communication strategies.

Despite significant gaps, the region has strong foundational pillars such as dedicated clinicians and rapid response teams. WHO is advancing regional workforce capacities through the Global Health Emergency Corps initiative, supported by the Gates Foundation and Institute of Philanthropy, to create a cohesive and rapidly deployable emergency workforce.

Gina Samaan, WHO’s Regional Emergency Director for the Western Pacific, stressed, “Scaling up emergency workforce readiness is no longer optional,” underscoring its importance in safeguarding health and protecting lives in an unpredictable future.

ST Telemedia Global Data Centres (STT GDC), headquartered in Singapore, has announced significant expansion milestones at its Jakarta data centre campus, including the launch of STT Jakarta 2 and the development of STT Jakarta 5 and 6. This expansion aims to deliver over 360MW of AI-ready IT capacity to support Indonesia’s burgeoning digital economy, projected to reach $130b by 2026. The initiative is driven by the increasing demand for cloud, AI, and digital infrastructure in the region.

The expansion of the Jakarta campus is designed to support high-density, AI-ready workloads and includes next-generation platforms with liquid cooling readiness. This development reflects STT GDC’s commitment to investing in scalable, high-performance digital infrastructure to meet Indonesia’s growing needs.

In parallel, STT GDC is focusing on talent development and community impact. The company has partnered with ATMI Cikarang to establish a Data Centre Laboratory Learning Centre in West Java, offering hands-on training with industrial-grade equipment. The programme includes globally recognised certification and structured internships, with student placements lasting up to 10 months within STT GDC’s operations.

Additionally, STT GDC is investing in community initiatives around its Jakarta campus. This includes the development of a badminton facility for 10,000 residents in Cikarang and environmental programmes like mangrove planting, benefiting over 150,000 villagers. These efforts aim to ensure that digital infrastructure development contributes positively to local communities.

Hendrikus Hendra Gozali, Country Head of STT GDC Indonesia, stated, “Our initiatives are designed to bridge the gap—equipping local talent with industry-relevant skills whilst ensuring that communities benefit meaningfully from the growth of the digital economy.” As STT GDC continues its expansion, these initiatives underscore its commitment to fostering inclusive growth and supporting Indonesia’s digital ecosystem.

Bank of Singapore has announced the appointment of Lim Leong Guan as Head of Private Banking for the Middle East, South Asia, and International, effective 1 July 2026. Based in Dubai, Lim will also serve as Chief Executive of the Dubai International Financial Centre Branch, pending regulatory approval. This move is part of the bank’s strategy to expand its ultra-high-net-worth (UHNW) segment, which saw a 9.4% growth in 2025, according to Capgemini Research Institute.

Lim, a veteran with 35 years in private banking, joined Bank of Singapore in 2020 and has been pivotal in doubling the assets under management (AUM) for the Financial Intermediaries segment. His leadership will be crucial as the bank aims for a 30% increase in UHNW AUM globally by 2028. Lim’s previous roles include Global Head of Financial Intermediaries, Family Office and Wealth Advisory, and Global Head of Products at Bank of Singapore. He also spent 25 years at UBS Wealth Management in senior roles.

Alongside Lim, Rickie Chan and Vi Sun Yang will drive the UHNW strategy in Greater China, North Asia, and ASEAN, respectively. Annabelle Chow will lead the Financial Intermediaries business globally, reporting to Yang. Chow has been instrumental in tripling the size of the FIMs team across Singapore, Hong Kong, and Dubai.

Bank of Singapore CEO Jason Moo expressed confidence in Lim’s ability to capture market opportunities, stating, “LG is a seasoned private banker with a proven track record.” The bank’s focus on UHNW and FIM segments is expected to be a key driver for its next phase of growth.