Industry News

The latest UOB ASEAN Consumer Sentiment Index shows that consumer confidence across ASEAN remains resilient in 2026, despite ongoing geopolitical tensions and rising oil prices. Singapore recorded the strongest improvement in the region, with its index climbing nine points to 56. This surge was driven by positive perceptions of both the current and future economic conditions, supported by government measures to alleviate cost-of-living pressures.

The index, which measures consumer sentiment across six key indicators, remained steady at 54 for the region. Vietnam, despite a four-point decline, remains the most optimistic market with an index of 63. Thailand also saw a rise, with its index increasing by four points to 51, buoyed by government stimulus measures and a robust tourism sector.

Suan Teck Kin, Head of Research at UOB, noted, “ASEAN-5 economies remained resilient in the first half of 2026, with Singapore and Thailand outperforming expectations.” He highlighted that ASEAN continues to attract multinational corporations, supporting employment growth and economic opportunities.

Conversely, Malaysia’s index eased to 50, reflecting concerns over household expenses and income security. Indonesia experienced a decline, with its index dropping to 49 from 55 the previous year.

The report underscores the varying economic conditions and consumer priorities across the region, with Singapore and Thailand’s strong performance helping to offset softer sentiment elsewhere. As ASEAN remains a compelling investment destination, consumer confidence is expected to continue playing a crucial role in the region’s economic landscape.

Fiuu, a prominent fintech platform in Southeast Asia, has obtained a JCB Direct Acquiring licence, enhancing its card acceptance capabilities in Singapore, Malaysia, and the Philippines, with plans to extend to Thailand. This licence enables Fiuu to process transactions directly with JCB, reducing dependency on intermediaries and improving transaction reliability and visibility for merchants.

The direct acquiring capability allows businesses to benefit from faster settlement processes and consistent payment performance, crucial for supporting cross-border growth. Fiuu’s CEO, Eng Sheng Guan, highlighted the significance of this development, stating, “Our direct acquiring relationship with JCB strengthens that foundation, allowing us to support merchants with broader acceptance, greater consistency, and the confidence to serve customers across both digital and physical commerce.”

In FY2025, Fiuu processed a total payment volume of $13b, showcasing its capacity to handle high-volume digital payments. The collaboration with JCB, a major global payment brand with 181 million cardmembers, is expected to expand JCB acceptance across Fiuu’s merchant network, enhancing payment coverage in the region.

Shimpei Yamaguchi, Managing Director of JCB International Asia Pacific, expressed enthusiasm about the partnership, noting Fiuu’s regional expertise and fast-growing merchant network as key factors in expanding JCB acceptance. The planned expansion into Thailand reflects Fiuu’s ambition to solidify its role as a leading regional Card Scheme Acquirer, providing businesses with a unified payment partner across Southeast Asia.

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to strengthen cybersecurity cooperation and digital fraud protection. This agreement, signed during the 31st Executives’ Meeting of East Asia-Pacific Central Banks Governors’ Meeting in Singapore, aims to enhance the cyber resilience of both countries’ financial sectors.

The MoU outlines a framework for collaboration in three key areas: information sharing, competency-building, and operational preparedness. This includes exchanging regulatory updates, conducting joint training and study visits, and organising cross-border cybersecurity exercises. The initiative addresses the increasing sophistication of cyber threats and digital fraud risks in today’s interconnected financial ecosystem.

MAS Managing Director Chia Der Jiun emphasised the importance of this partnership, stating, “Cyber risks and digital fraud are key transnational threats confronting our region and calls for closer collaboration to combat these risks.” BOT Governor Vitai Ratanakorn echoed this sentiment, highlighting the need for seamless cross-border intelligence exchange to counter emerging threats.

This MoU marks a significant step towards creating a safe and resilient financial ecosystem, reflecting the shared commitment of MAS and BOT to safeguard trust in their financial systems. As cyber threats continue to evolve, this enhanced partnership is expected to play a crucial role in maintaining the integrity and security of financial operations in both countries.

Synagie has unveiled Geene 2.0, a Trusted AI Commerce Intelligence Ecosystem, designed to help businesses transition from isolated AI applications to a cohesive, scalable platform. Launched with twelve founding partners, including BytePlus and SingData, the platform was introduced to over 200 business leaders and guests.

Geene 2.0 combines capabilities in data, artificial intelligence, media, commerce, and blockchain into a single software-as-a-service platform. It enables businesses to analyse markets, strategise, generate content, automate operations, and verify products within one ecosystem. The platform will be available commercially from early August 2026.

The unveiling event featured a fireside chat with industry leaders, including Desmond Tan, Senior Minister of State in the Prime Minister’s Office, who emphasised the importance of trust in AI deployment. The platform’s ASSET intelligence engine orchestrates AI-driven commerce through five layers: Analyse, Strategise, Storytelling, Execute, and Trust.

Pei Gy Wong, Chief Digital Officer of Synagie, stated, “The next generation of AI will be led by those who can build the greatest trust.” Geene 2.0 aims to provide businesses with a practical pathway to adopt AI confidently and at scale.

The platform has already been deployed commercially with AGONG Durian, demonstrating its capabilities in improving operational efficiency and consumer confidence. Synagie is also collaborating with the Singapore Industrial and Services Employees’ Union to enhance AI readiness among workers.

As AI adoption accelerates, Synagie positions Geene 2.0 as a foundation for responsible enterprise AI innovation, aiming to make Singapore a leader in this field.

Hines, a global real estate investment manager, has identified a “scarcity advantage” in select developed Asian markets, including Tokyo, Seoul, Singapore, and Sydney, according to its 2026 Mid-Year Outlook. The report reveals that these markets are experiencing robust demand coupled with constrained future supply, creating favourable conditions for investors.

Tokyo’s office sector is highlighted as one of the strongest globally, with industrial fundamentals also improving as vacancy rates decline and rent growth accelerates. In Singapore and Sydney, necessity-led retail assets are thriving due to their strategic urban locations, limited new supply, and sustained demand, which are driving rental growth. Seoul’s living sector is also noted for its positive medium-term outlook, supported by wage growth, an increase in single-person households, and a tight housing supply, leading to above-inflation rental growth.

David Steinbach, Global Chief Investment Officer at Hines, emphasised the importance of local market dynamics over broad regional trends. “The strongest investment opportunities have become increasingly concentrated in markets where long-term demand remains durable but future supply is difficult to deliver,” he said.

The report suggests that higher construction costs, development risks, and financing costs are delaying new supply in many markets, further enhancing the scarcity advantage. As competition for well-located assets intensifies, Hines believes recognising this scarcity will be crucial for investors seeking durable returns.

CapitaLand Investment has released a new research report titled “APAC Flexible Living: Achieving Scalable Growth From Structural Demand,” which underscores the resilience and strategic importance of the living sector in the Asia-Pacific (APAC) region. The report highlights that whilst structural demand remains strong, the key differentiator for growth is now execution, focusing on entry strategy, asset management, and operational capabilities.

The living sector has emerged as APAC’s most resilient real estate category, recording investment volume growth of 51% during the COVID-19 pandemic and 18% during the global rate-hiking cycle. This growth is attributed to rental increases that have consistently outpaced inflation and interest rates, making it a compelling choice for income-oriented investors.

Demographic shifts, such as shrinking household sizes and increased urbanisation, are driving demand for rental housing across APAC. Government policies supporting immigration and labour mobility further bolster this demand, creating a favourable environment for institutional rental housing. However, the report stresses that excess returns will increasingly depend on how investors enter, operate, and scale their assets.

The report also notes the diversity within the APAC living sector, with each market offering unique risk-return profiles and entry strategies. For instance, Japan’s multifamily market relies on direct acquisition, whilst Australia’s purpose-built student accommodation (PBSA) and coliving sectors offer development and conversion opportunities. In Singapore, the coliving sector focuses on adaptive reuse, and Hong Kong’s PBSA is driven by policy reforms.

CapitaLand’s research emphasises that operational capability and scale are becoming core sources of alpha, with regional platforms enhancing sourcing, standardising design, and optimising operations. As the sector continues to mature, these factors will be crucial in delivering sustainable growth and long-term income resilience.

Menarini Asia-Pacific has entered a 10-year exclusive partnership with Pharmacosmos to bring Cosela® (trilaciclib), a first-in-class oncology supportive care therapy, to the Asia-Pacific region. This collaboration excludes China and India and is set to address chemotherapy-induced myelosuppression (CIM), a significant side effect for patients with extensive-stage small cell lung cancer.

Cosela® is designed to protect bone marrow from CIM, a condition that compromises the production of healthy blood cells and can disrupt cancer treatment. Already approved by the FDA, Cosela® is marketed in the US and China, with registration underway in Europe. The first launch in the Asia-Pacific is anticipated in Hong Kong in 2028, followed by Singapore and Thailand in 2029, with other markets such as Australia to follow.

Glen Godresse, CEO of Menarini Asia-Pacific, stated, “Cosela® represents an important advancement in oncology supportive care and the kind of innovation that can make a meaningful difference for patients.” Klaus Abel, Vice President of Global Commercial Partnerships at Pharmacosmos, added, “Menarini Asia-Pacific’s deep local market expertise and patient-focused approach make them the ideal partner.”

The partnership builds on a previous agreement between the two companies to commercialise Monofer®, an innovative iron infusion, across key Asia-Pacific markets. This collaboration underscores Menarini’s commitment to expanding access to innovative therapies in the region, leveraging its comprehensive capabilities from registration to patient access.

Neuberger, a global investment manager, has appointed Bertrand Ng as Alternative Product Specialist for the Asia-Pacific (APAC) region. Based in Singapore, Ng will join the Client Coverage team and report to Jose Cosio, Head of Intermediary for EMEA, LatAm, and APAC. Ng brings a wealth of experience from his previous role as CEO of iCapital SG Pte. Ltd., where he expanded the firm’s private markets platform across Asia.

Ng’s extensive background includes over a decade at JPMorgan Private Bank in Singapore and Hong Kong, where he specialised in alternative investments such as private equity, venture capital, and real estate. His career also includes a tenure at Merrill Lynch Wealth Management in Singapore.

Jose Cosio expressed enthusiasm about Ng’s appointment, stating, “Bertrand’s deep understanding of private markets, combined with his experience working across wealth management and alternative investment platforms in Asia, will be a significant asset as we continue to expand our private markets capabilities.”

In his new role, Ng will collaborate with clients and distribution partners across Asia to promote Neuberger’s private markets capabilities and investment solutions. This appointment highlights Neuberger’s commitment to strengthening its presence in Asia and meeting the evolving needs of investors.

Neuberger, founded in 1939, is an employee-owned investment manager with approximately 3,000 employees across 26 countries. The firm manages $613b in various asset classes, including equities, fixed income, and private equity.

UOB has teamed up with Visa to introduce new Visa Infinite Privilege and Visa Infinite Private card tiers across ASEAN, marking a significant multi-market launch. This initiative will see more than 300,000 UOB Visa Infinite cardholders in Singapore, Malaysia, Thailand, Indonesia, and Vietnam upgraded to higher card tiers, granting them access to a broader range of premium benefits.

The collaboration positions UOB as the first Visa issuer in ASEAN to execute such a large-scale launch, setting a new standard for regional card offerings. This move comes as affluent spending in the region continues to grow, with UOB reporting a more than 10% increase in new affluent cardholders and a 25% surge in card billings in 2025.

Visa’s refreshed Visa Infinite offering, unveiled on 16 July 2026, introduces a three-tier card suite designed to meet the evolving needs of affluent consumers. The new tiers offer greater flexibility, personalisation, and differentiated benefits. Selected UOB cardholders will enjoy exclusive privileges, including access to luxury travel experiences and rare timepieces.

Pratik Bhattacharjee, Head of Group Cards and Payment Products at UOB, stated, “Our partnership with Visa marks a significant milestone, allowing us to deepen our engagement with affluent customers by curating exclusive experiences that money cannot buy.”

T.R. Ramachandran, Head of Products & Solutions for Asia Pacific at Visa, added, “The refreshed Visa Infinite portfolio is designed to meet the changing expectations of affluent consumers, offering more personalised, seamless, and relevant experiences.”

This partnership aligns with UOB’s strategy to integrate banking, wealth, and lifestyle services, reinforcing its ambition to be the Bank of Choice for customers across ASEAN.

ASEAN has solidified its position as a major global investment destination, with foreign direct investment (FDI) inflows reaching a record $244b in 2025, according to a report by UOB Global Economics and Markets Research. This 10% year-on-year increase highlights the region’s growing appeal amidst global supply chain shifts and capital reallocation.

Singapore led the charge, attracting $151b, or 62% of the total ASEAN inflows, making it one of the top five FDI destinations worldwide. Malaysia and Thailand also saw significant growth in FDI inflows, with increases of 51% and 30% respectively. In contrast, Indonesia experienced a 14% decline in FDI inflows, although it remained a leader in merger and acquisition activity, greenfield investments, and project finance.

Despite the uneven distribution of FDI across the region, ASEAN’s overall performance outpaced global FDI growth, which stood at 6% year-on-year. The bloc’s focus on digital infrastructure, green industries, and downstream processing is reshaping its investment landscape. “ASEAN’s total investment capture is now approaching that of Europe,” the report noted, underscoring the region’s strategic importance.

Looking ahead, ASEAN is intensifying its investment promotion strategies, with a focus on green and digital transitions. The ASEAN Regional FDI Investment Promotion Action Plan 2025–2030 aims to enhance the region’s attractiveness to global investors, supporting sustained FDI growth over the medium term. This strategic focus is expected to further bolster ASEAN’s role in global supply chains and investment flows.