Industry News

Coca-Cola is set to refresh the Lunar New Year and Tết celebrations in 2026 by engaging Gen Z across Vietnam, Singapore, and Malaysia. The initiative aims to preserve traditional festivities whilst allowing the younger generation to infuse their creativity, ensuring the celebrations remain relevant and personal. This year’s campaign encourages Gen Z to honour the festival’s meaning whilst expressing it in innovative ways alongside their families.

The campaign, developed with local teams, allows each country to highlight its cultural stories and rituals, unified by the theme of co-creation and togetherness. Tin Le Trung, Coca-Cola Trademark Category Lead in ASEAN and South Pacific, stated, “Our ambition with Lunar New Year Tết was to help keep our beautiful traditions alive by inviting younger generations to take part in shaping them.”

A key feature of the campaign is its festive visual identity, inspired by Asian craftsmanship, created in collaboration with Elmwood. This identity is reflected in packaging, retail displays, and digital platforms, allowing each market to express its cultural character whilst maintaining a shared festive foundation.

In Vietnam, the campaign theme “Weave a New Tet” encourages Gen Z to create new traditions with their families. In Singapore and Malaysia, the focus is on music, with a cross-border Lunar New Year anthem encouraging participation across generations.

The campaign integrates social storytelling, live experiences, and festive packaging, ensuring that celebrations connect with everyday moments. By involving Gen Z in preserving traditions, Coca-Cola demonstrates how brands can maintain cultural celebrations’ relevance by celebrating them with those who will carry them forward.

Visa has unveiled findings from its State of Digital Commerce in Asia Pacific study, highlighting that whilst 74% of consumers in the region use AI for shopping, concerns about security and transparency remain significant barriers at checkout. Conducted by YouGov, the survey involved 14,764 consumers across 14 markets, revealing that trust and secure authentication are crucial for AI-powered commerce to scale effectively.

The study indicates that affluent and digitally savvy consumers exhibit higher caution towards AI-enabled shopping, with 39% of affluent households expressing concerns about data usage compared to 29% of lower-income groups. This caution is also evident in digital-first markets such as Australia, New Zealand, and Singapore, where consumers demand greater transparency and control over AI recommendations.

AI is primarily used for product discovery, but trust issues arise when transactions become personal. Nearly half of the respondents (45%) indicated they would be more open to AI-driven commerce if payment security assurances were stronger. T.R. Ramachandran, Head of Products & Solutions, Asia Pacific at Visa, stated, “Consumers want to understand how their data is being used and feel confident that every transaction is secure.”

Emerging markets like India and Vietnam show a higher openness to AI-driven commerce, with 42% of consumers in each market willing to use AI for online purchases. In contrast, digitally mature economies such as Singapore, Japan, and New Zealand display greater reservation, highlighting the need for improved payment security to foster adoption.

Visa’s study underscores the importance of building trusted frameworks in AI-driven commerce, with solutions like Tokenisation and Visa Payment Passkeys aiming to provide seamless and secure shopping experiences. As AI becomes more integrated into everyday commerce, ensuring consumer trust and secure authentication will be pivotal for its widespread adoption.

AIA Group Limited has unveiled new research highlighting how entrenched stereotypes around physical, mental, and financial health are impacting wellbeing across Asia. Conducted in Mainland China, Hong Kong SAR, Singapore, Thailand, and Malaysia, the study analysed over 100 million social media posts and surveyed 2,100 individuals to understand how these stereotypes are formed and perpetuated.

The findings reveal that rigid expectations regarding fitness, mental health, wealth, and family responsibilities exert significant pressure on individuals. Key insights include 69% of respondents believing that fitness requires strict discipline, 59% thinking health improvement demands a complete transformation, and 57% feeling that respect is contingent on emotional control and avoiding vulnerability. Additionally, 63% hold negative views on financial health stereotypes, with 41% linking personal worth to financial success, particularly among men.

Stuart A. Spencer, AIA Group Chief Marketing Officer, stated, “The data is unequivocal. Asia’s health challenge is no longer just medical, it is also behavioural and cultural.” He emphasised that deeply rooted stereotypes are undermining prevention efforts and delaying support, leading to poorer health outcomes.

In response, AIA has launched the next phase of its Rethink Healthy initiative, featuring films that address these hidden pressures. The initiative aims to inspire behavioural change and promote more inclusive health narratives. AIA’s long-term commitment is to engage one billion people by 2030, encouraging healthier, longer, and better lives across Asia.

AsiaPhos Limited has entered into a strategic partnership with China Mobile International to explore opportunities in artificial intelligence (AI) computing services and data centres across Southeast Asia. The collaboration, formalised through a Letter of Intent signed on 9 February 2026, seeks to leverage the strengths of both companies in Indonesia, Malaysia, and Singapore.

The partnership is designed to identify synergies between AsiaPhos and China Mobile International, one of the world’s largest telecommunications companies, to create joint or allied efforts in the region. Under the agreement, China Mobile will introduce potential customers to AsiaPhos for projects related to data centres and AI computing services. In return, AsiaPhos will prioritise China Mobile for data centre fit-out works and related services if these introductions lead to new business.

AsiaPhos CEO Ong Eng Keong expressed optimism about the partnership, stating, “AsiaPhos is honoured to have the opportunity to work with China Mobile International to explore opportunities in the data centres and artificial intelligence computing services in Southeast Asia.” He noted the exponential growth in Artificial Intelligence Data Centres globally, citing a report by S&P Global that highlighted a record US$61b investment in data centres worldwide in 2025.

The partnership is not expected to affect AsiaPhos’s proposed acquisition of Exquisite Mode Sdn Bhd. However, shareholders and potential investors are advised to exercise caution, as the agreement is non-binding and can be terminated by either party. The collaboration marks a significant step for AsiaPhos as it continues to seek opportunities to enhance shareholder value.

XPENG, a leader in intelligent electric vehicles (EV), has teamed up with Ant International’s Antom to introduce a streamlined payment solution for EV charging. Launched on 9 February in Hong Kong, this collaboration marks XPENG as the first Chinese new-generation EV maker to establish a global payment partnership with Antom. The initiative aims to simplify the charging process for users by integrating payment options directly into the XPENG APP.

The partnership allows XPENG users in Hong Kong to initiate and complete charging payments using AlipayHK, with credit card options to follow. This service is part of a broader strategy to expand into Southeast Asia and other global markets by 2026. Antom’s solution integrates over 300 payment methods across more than 200 markets, supporting payments in over 100 currencies, thus addressing the challenges of fragmented payment channels.

Gary Liu, General Manager of Antom, highlighted the strategic importance of this collaboration, stating, “Payment becomes a strategic capability for automakers’ charging platforms to deliver better user service, improve efficiency and achieve sustainable growth.”

XPENG’s global expansion is evident, with overseas deliveries reaching 45,008 units in 2025, a 96% increase from the previous year. The company’s charging network now spans 31 countries, connecting over 2.66 million charging piles. Lawrence Li, General Manager of XPENG Overseas Charging, noted that the collaboration with Antom extends beyond payments, aiming to foster broader cross-industry partnerships.

In 2026, the partnership will expand to Singapore, Thailand, Malaysia, Indonesia and additional global markets. Antom will help XPENG enable DANA (Indonesia), Touch ‘n Go eWallet (Malaysia), TrueMoney (Thailand), and other regional payment methods.

JCB International Co Ltd, the international operations subsidiary of Japan’s only international payment brand, has announced a collaboration with Resorts World Sentosa (RWS) in Singapore. This partnership aims to enhance the travel experience for Japanese tourists visiting the island nation. The collaboration introduces exclusive privileges for Japan-issued JCB cardmembers, including up to 20% savings on selected attractions and accommodation, as well as dining and retail benefits at participating outlets within RWS.

Resorts World Sentosa, located on Singapore’s premier resort island, is a leading integrated lifestyle destination, attracting millions of visitors annually. The collaboration with JCB is designed to offer Japanese guests curated experiences that enhance every stage of their visit, from iconic attractions to hotel stays.

Hiroko Michishita, Managing Director of JCB International Asia Pacific, highlighted the significance of the collaboration, stating, “Our launch of this programme comes at an opportune time amid a steady rise in Japanese tourist arrivals to Singapore.” Jenny Wang, Acting Senior Vice President of Resort Sales and Marketing at RWS, added, “We are pleased to partner with JCB to deepen our engagement with Japanese travellers and strengthen RWS’s presence in the Japan market.”

This initiative is part of a broader strategy to attract more Japanese tourists to Singapore, offering them compelling reasons to visit and extend their stay. The collaboration reflects a long-term commitment to building sustained relevance in Japan, positioning Resorts World Sentosa as Asia’s leading lifestyle destination.

Frasers Property Limited has released its business updates for the first quarter ending 31 December 2025, highlighting significant achievements in residential and industrial sectors. The Group reported $1.4b in pre-sold residential revenues across Singapore, Australia, Thailand, and China. In Singapore alone, unrecognised revenue reached $0.5b, with the Robertson Opus project 56% sold. In China, sales at Fang Song, Shanghai, contributed to a $0.5b unrecognised revenue, with nearly 70% of Phase 1 units sold since December.

The Group also delivered 9,443 square metres of industrial and logistics space in Q1 FY26 and maintains a robust development pipeline of approximately 862,000 square metres across Australia, Europe, Vietnam, and Thailand. Vietnam, in particular, is experiencing strong market demand, supporting planned completions of 452,000 square metres in FY26 and FY27.

Frasers Property’s retail and commercial sectors continue to perform well, with occupancy rates above 94% in Singapore, Australia, and Thailand. The hospitality portfolio also saw improvements, with RevPAR increasing across key markets in Thailand, Asia Pacific, and EMEA.

In terms of capital management, the Group divested Chineham Park in the UK and reported a net gearing of 89% at the end of Q1 FY26. With $2.2b in cash and bank balances, Frasers Property is well-positioned to manage debt expiring in FY2026. The Group remains committed to its strategic pillars to deliver sustainable value amidst an evolving business environment.

Zuellig Pharma, a prominent healthcare solutions company in Asia, has announced the acquisition of the Zam-Buk and Vapex consumer healthcare brands from Bayer Consumer Care AG. This strategic move, effective from 9 February 2026, covers the markets of Thailand, Singapore, Indonesia, Malaysia, and Brunei. The acquisition aims to bolster Zuellig Pharma’s consumer healthcare portfolio across Asia.

Zam-Buk, an ointment first launched in 1902, is renowned for providing temporary relief from pain and itch, including insect bites. Vapex, a nasal inhaler introduced in 1917, is well-known for alleviating nasal congestion, particularly in Thailand. Both brands have maintained strong brand equity and consumer trust over the years.

This acquisition aligns with Zuellig Pharma’s strategic priority to scale its consumer healthcare offerings in the region. It follows the company’s previous acquisition of Propan in the Philippines, further solidifying its commitment to building a robust platform for everyday healthcare products. John Graham, CEO of Zuellig Pharma, stated, “Zam-Buk and Vapex are enduring brands with deep heritage and trust in the communities they serve. By combining the brands’ legacy with Zuellig Pharma’s regional commercial capabilities and local market expertise, we aim to expand distribution and access across all relevant retail channels in the region.”

Zuellig Pharma, founded a century ago, has grown into a multibillion-dollar enterprise, serving over 200,000 medical facilities across 18 markets with more than 12,000 employees. The acquisition of Zam-Buk and Vapex is expected to enhance the company’s reach and accessibility in the consumer healthcare sector.

The 2025 Global CEO Turnover Index by Russell Reynolds Associates reveals a record-high CEO turnover globally, with the Asia Pacific (APAC) region experiencing its highest number of departures in seven years. In 2025, 234 CEOs exited their roles worldwide, marking a 16% increase from 2024. APAC alone saw 87 departures, a 26% rise from the previous year.

The report highlights a significant trend in APAC, where 94% of new CEO hires were first-time leaders, and 73% of appointments were internal promotions. This indicates a strategic shift towards leveraging internal talent and fresh perspectives to navigate complex market conditions. Euan Kenworthy, Country Lead for Singapore at Russell Reynolds Associates, noted, “The role of the CEO has become materially harder, burdened by increased media scrutiny, a more demanding investor base, faster technology adoption, and regulatory challenges.”

CEO tenures have also shortened, with the global average declining to 7.1 years from 7.4 years in 2024. In APAC, the average tenure is now 5.9 years, with Singapore’s outgoing CEOs showing a slightly longer tenure of 7.3 years. This trend reflects increased board scrutiny and a proactive approach to leadership changes.

For the first time, planned CEO successions (32%) surpassed retirements (26%) as the primary reason for departures. Kenworthy emphasised the importance of robust succession planning, stating, “Getting CEO succession right has never been more important, or more complex.” As organisations face heightened expectations and market volatility, the focus is on building a strong leadership pipeline to ensure continuity and adaptability.

Professor Dou Dejing, Chief Scientist at Beijing Electronic Digital Intelligence (BEDI), recently presented China’s AI industry practices at the China-ASEAN AI High-Level Seminar in Kuala Lumpur. The event, co-organised by several engineering and academic institutions, gathered nearly 150 representatives to discuss AI technologies and regional cooperation.

During his keynote, Professor Dou highlighted BEDI’s strategy of using full-stack AI capabilities to drive industrial upgrades. He detailed BEDI’s framework, which includes one AI foundation and two industry platforms, tailored to specific cities and industries. This approach has been applied in various sectors, including healthcare and manufacturing, offering ASEAN participants a reference for industry transformation.

BEDI’s initiatives include the Beijing Digital Economy Computing Power Centre, which supports innovation in Chaoyang District’s audiovisual industry, and a partnership with the China-Japan Friendship Hospital to enhance service efficiency. In Foshan, BEDI’s AI-enabled manufacturing base uses intelligent computing to reduce costs and improve efficiency, with projections of generating significant revenue growth.

Professor Dou emphasised BEDI’s commitment to ethical AI and open collaboration, aiming to build a China-ASEAN AI ecosystem through technology transfer and joint research and development. This model, he noted, provides a practical path for AI-powered transformation in Southeast Asia, supporting regional digital transformation and fostering new cooperation landscapes.