Industry News

The ASEAN Centre for Energy (ACE) has unveiled the ASEAN Energy Investment 2026 report at the 26th ASEAN Energy Business Forum in Manila, aiming to mobilise capital for the region’s energy transition. The report, themed “Mobilising Capital for Energy Security, Resilience, and Connectivity in ASEAN,” addresses the region’s escalating investment needs and the financial mechanisms required to attract large-scale capital.

According to the ASEAN Energy Outlook, energy demand in ASEAN is expected to rise by 4.2% annually, reaching 2,047 million tonnes of oil equivalent by 2060. To meet these demands, an annual investment gap of approximately US$405b must be bridged, with cumulative investment needs estimated at US$14.3t by 2060. Electricity generation and transport sectors are projected to account for 80% and 17% of these investments, respectively.

ACE Executive Director Razib Dawood emphasised the report’s role in unlocking investment and enhancing energy security. “The AEI 2026 Report answers the question of how ASEAN can unlock investment and mobilise capital necessary to enhance ASEAN’s energy security, resilience, and connectivity,” he stated.

The report identifies the high cost of capital as a significant barrier, with financing costs for clean energy projects in ASEAN being at least double those in advanced economies. To mitigate these challenges, the report suggests a three-step de-risking approach: policy reform, risk-sharing agreements, and financial instruments like guarantees and political risk insurance.

The launch event featured remarks from UK Ambassador to ASEAN Helen Fazey and a panel discussion moderated by ACE’s Senior Economist Ambiyah Abdullah. The report aims to guide governments, financial institutions, and investors in transforming ASEAN’s energy priorities into viable projects, stressing the need for coordinated action for a sustainable energy future.

Sun Life Private Wealth has announced the appointment of three senior leaders to bolster its product and market leadership in Singapore and Bermuda. Liem Phan takes on the role of Chief Product Officer in Singapore, Alvin Soh is named CEO of Sun Life Private Wealth Singapore, and Georgina Howes joins as CEO and Country Manager for Sun Life Private Wealth Bermuda.

Liem Phan will oversee product strategy, including design, pricing, and innovation. With over 20 years of experience, he previously led Swiss Re’s Southeast Asia and India business. Alvin Soh, with 16 years of leadership experience, will focus on the growth and development of the Singapore business, having previously served as Chief Distribution & Marketing Officer at FWD Singapore. Georgina Howes, bringing over 25 years of insurance expertise, will drive the Bermuda business, having formerly led Transamerica Life (Bermuda) Ltd.

“These appointments mark an important step in building the leadership team for Sun Life Private Wealth,” said Sujoy Ghosh, CEO of Sun Life Private Wealth. The appointments follow the launch of Sun Life Private Wealth’s integrated platform, aimed at supporting high net worth individuals and families in wealth management.

Sun Life, with over 160 years of global experience, operates in key wealth hubs including Bermuda, Dubai, Hong Kong, and Singapore, and manages assets worth $1.70t as of 30 June 2026.

WEX and Mastercard have announced a strategic partnership to introduce Asia-Pacific’s first unified fleet payments network. This initiative aims to streamline fleet management by integrating fuel, maintenance, tolling, and parking expenses into a single payment system. The collaboration leverages Mastercard’s global payments network and WEX’s extensive fleet management expertise, addressing the fragmented payment systems that currently challenge fleet managers.

The Asia-Pacific region, identified as the fastest-growing fleet management market, sees transaction volumes estimated at US$310b annually, accounting for 31% of global volumes. The partnership is expected to drive efficiency and growth by providing a cohesive view of expenses, eliminating administrative friction, and enabling real-time spend controls.

Matt Arthur, vice president and general manager of APAC Mobility at WEX, highlighted the competitive advantage of simplicity in fleet management. “For decades, fleets have used one card for fuel and a patchwork of systems for everything else,” he said. “This strategic partnership creates a smarter infrastructure that allows our customers to manage the transition to hybrid fleets and navigate economic volatility with total visibility over their operations.”

The partnership focuses on three core pillars: unified payments and data infrastructure, actionable intelligence and control, and future-ready mixed-energy fleet solutions. Anouska Ladds, Executive Vice President at Mastercard, emphasised the collaboration’s impact, stating, “By combining our global network with their deep industry expertise, we’re helping businesses move faster, operate smarter and prepare for what’s next.”

As the programme expands across key regional markets, it is projected to process billions of dollars in annual transactions, setting a new standard for fleet management in Asia-Pacific.

Taipei City and the Taiwan External Trade Development Council (TAITRA) highlighted the potential of Taipei–Singapore technology collaboration during Tech Week Singapore 2026. The event, held at the Sands Expo and Convention Centre, featured the Taipei Pavilion, where 12 Taipei-based technology companies showcased solutions in AI-ready data, edge computing, cybersecurity, and smart-city applications.

A significant development from the event was the signing of a Memorandum of Understanding (MOU) between the Taiwan Artificial Intelligence Association (TAIA) and Singapore AI Association. This agreement aims to foster cooperation in AI advisory services, technical and market intelligence exchange, and SME expansion, thereby strengthening ties between Taiwan’s technology ecosystem and Singapore’s enterprise community.

Jules Shih, Manager at TAITRA, remarked, “Singapore and Taipei bring complementary strengths to the next phase of AI adoption.” The collaboration is expected to leverage Singapore’s enterprise deployment capabilities and Taipei’s expertise in AI infrastructure and systems integration.

The Taipei Pavilion demonstrated the breadth of Taipei’s AI ecosystem, with companies like BigObject Inc. and NETIO Technologies Co., Ltd. presenting innovative solutions. The pavilion underscored Taipei’s ambition to become an AI innovation hub, with initiatives such as smart-city projects and collaborations with NVIDIA.

The partnership between Taipei and Singapore is built on a strong trade relationship, with Taiwan becoming Singapore’s largest goods trading partner in 2025. The collaboration aims to translate AI innovation into practical outcomes for enterprises and communities across the region.

UOB Asset Management (UOBAM) has unveiled its fourth-quarter 2026 investment strategy, emphasising opportunities for investors amidst evolving global monetary policies. Despite the uncertainty, UOBAM notes that economic activity across major regions remains robust, with corporate earnings continuing to support growth. The firm highlights the role of transformational technologies, such as artificial intelligence, in underpinning long-term growth prospects.

UOBAM’s strategy suggests that market volatility should be seen as an opportunity for disciplined investors to secure attractive long-term returns. The firm does not anticipate an aggressive interest rate hike or a surge in bond yields, as factors driving price pressures are moderating. In equities, UOBAM favours the US and Asia, citing the US’s earnings growth and innovation, and Asia’s strong economic growth and leadership in sectors like semiconductors and electric vehicles.

Anthony Raza, Head of UOBAM Multi-Asset Strategy, remarked, “The key story for investors is that the global economy has stayed strong despite a constant stream of headwinds.” He added that whilst the economic cycle shows late-cycle signs, it is premature to abandon a growth-oriented strategy.

UOBAM remains overweight in equities and underweight in fixed income, maintaining a positive outlook on commodities, with gold as a key diversification tool. For more detailed insights, UOBAM’s full Q4 2026 Investment Strategy is available on their website. Established in 1986, UOBAM manages S$439b in assets and has received numerous industry accolades for its innovative and sustainable investment approaches.

UOB and Amazon Web Services (AWS) have signed a Memorandum of Understanding to explore AI-driven banking innovations across ASEAN. This collaboration will utilise a dedicated cloud environment in Singapore, marking the first hybrid infrastructure model for banking in the region. The initiative aims to enhance operational resilience, meet regulatory requirements, and improve customer experiences across UOB’s five ASEAN markets: Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

The partnership combines UOB’s regional banking expertise with AWS’s cloud infrastructure and AI services. Initial efforts will focus on hybrid cloud architecture, data analytics, and AI-powered customer engagement. Lawrence Goh, Head of Group Technology and Operations at UOB, stated, “Our collaboration with AWS reflects our strategic intent to accelerate innovation, enhance customer experiences, increase productivity, and create long-term value for our customers, employees, and stakeholders across ASEAN.”

The hybrid infrastructure model will allow UOB’s systems and data to operate across both on-premises and cloud environments, ensuring compliance with regulatory requirements. This collaboration is the first of its kind between AWS and a bank in ASEAN, aligning with the industry’s stringent security and governance standards.

AWS Vice President & Managing Director for APAC, Jaime Vallés, highlighted the potential for improved customer experiences, stating, “UOB will have the tools to innovate and the training programmes to build AI fluency and cloud skills across its workforce, all whilst keeping customer data secure.”

The collaboration also aims to leverage AWS’s AI tools to enhance UOB’s customer experience and internal operations, including conversational banking capabilities and personalised services. Additionally, UOB plans to invest in future-ready talent by exploring AWS’s training programmes to equip employees with skills in cloud technologies, AI, and data analytics.

The rapid expansion of data centres in the Asia Pacific (APAC) region is presenting a complex array of risks, according to a new report by global insurance broker Howden. The report, titled “Insuring the data centre supercycle: Six critical areas of interconnected risk, from construction to conflict,” highlights the challenges posed by increased power demand, construction risks, and cyber threats as the sector grows.

Howden’s research reveals that the APAC region constructed approximately 66 million square feet of new data centre space in 2025, with construction volumes growing at a compound annual growth rate of 18% from 2016 to 2025. This expansion has concentrated risks at fewer, larger sites, increasing the potential for significant business disruptions.

The surge in data centre construction is straining power grids across the region, with power consumption increasing at a 47% annual growth rate over the same period. To address this, many new hyperscale campuses are being designed to generate their own power, altering the risk landscape for insurers.

Despite nearly universal redundancy in APAC data centres, outages remain a concern, often due to system failures unrelated to physical damage. This has led to the development of new insurance solutions, such as parametric cover, to address these challenges.

Zoe Zhang, Regional Director of Digital Infrastructure Practice at Howden, emphasised the importance of an integrated approach to risk management, stating, “Data centre operators and investors across the region may benefit from specialist advice and tailored risk transfer solutions to match the pace of this exponential growth.”

As the APAC data centre sector continues to expand, the need for comprehensive insurance coverage that addresses the unique risks of construction, operation, and cyber exposure becomes increasingly critical.

iCapital’s latest Asia Adviser Survey reveals a significant shift in investment priorities among financial professionals in Hong Kong and Singapore. The survey, which gathered insights from 62 advisers, highlights a growing commitment to alternative investments despite a decline in economic confidence across the region.

The survey indicates that more than a quarter of advisers plan to increase allocations to alternatives over the next year. This comes as positive economic sentiment in Asia experiences the steepest decline of any region surveyed. Advisers are increasingly seeking risk analytics tools, with demand rising by 22%, making it the top technology priority. Compliance concerns have also surged by 15%, highlighting the growing regulatory challenges faced by advisers.

Interest in alternative investments has notably shifted from private credit to real assets, with real estate and venture capital seeing significant increases. This rotation reflects a heightened focus on inflation resilience and tangible assets amidst geopolitical disruptions and energy-security concerns.

Complexity in explaining alternatives to clients has emerged as the leading barrier to scaling these investments, surpassing client reporting, which saw an 18% decline. The demand for advanced education in alternative investments is highest in Asia, with two-thirds of advisers expressing interest in advanced topics.

The iCapital survey notes that whilst European advisers focus on model portfolios, Asian advisers are prioritising risk analytics and compliance support. This shift underscores the unique challenges and opportunities within Asia’s wealth management landscape. As advisers navigate these complexities, the emphasis on education and technology is set to shape the future of alternative investments in the region.

Southeast Asia’s technology sector experienced a remarkable 176% increase in funding, reaching $13.5b in the first nine months of 2026, according to Tracxn Technologies’ latest report. The surge was driven by significant contributions from Singapore-based companies DayOne and Kling AI, which together accounted for 54% of the total funding.

The report highlights that the funding landscape was dominated by four mega-rounds, each exceeding $1b, which collectively represented 63% of the total funding. DayOne secured $2.5b in June and an additional $2b in January, whilst Kling AI raised $2.8b in July. These substantial investments underscore the growing focus on late-stage funding, which more than tripled to $10.2b, making up 76% of the total market funding.

Singapore emerged as the primary hub for tech investments, capturing 94% of the region’s funding with $12.4b, a significant rise from $4.4b in the same period last year. Other cities like West Jakarta, Bangkok, and Kuala Lumpur also saw increases in funding, albeit on a smaller scale.

The report also noted a decline in the number of funding rounds, dropping 28% to 189, and a decrease in first-time funded companies. Despite this, the tech ecosystem in Southeast Asia continues to thrive, with data centre infrastructure and video creation tools leading the sectoral funding categories.

Looking ahead, the concentration of capital in large, late-stage deals suggests a maturing tech ecosystem in the region, with Singapore at its core.

The ASEAN Centre for Energy (ACE) and Airbus have signed a Memorandum of Understanding (MoU) to advance the development of Sustainable Aviation Fuel (SAF) within the ASEAN region. The agreement, announced on 6 October during the ASEAN SAF Convergence Forum in Manila, marks the beginning of a three-year cooperation programme.

The partnership, formalised at the ASEAN Energy Business Forum 2026, brings together ACE’s expertise in regional energy and Airbus’ technical knowledge in aviation and SAF. The MoU was signed by ACE’s Executive Director, Razib Dawood, and Airbus Asia-Pacific SAF & Sustainability Officer, Helene Burger, with key figures from both organisations present.

The collaboration will focus on technical research, capacity building, and policy dialogue to enhance regional understanding of SAF. It aims to explore various aspects of the SAF value chain, including sustainable feedstocks, production pathways, and market conditions. These efforts are designed to provide ASEAN Member States with the insights needed to evaluate SAF opportunities tailored to their national contexts.

This initiative aligns with the ASEAN Plan of Action for Energy Cooperation 2026–2030, which includes a target of achieving a 30% renewable energy share by 2030. By fostering knowledge exchange and cooperation, the partnership seeks to lay the groundwork for SAF development in the region, contributing to ASEAN’s broader energy transition goals.