Industry News

The Energy Market Authority (EMA) of Singapore and Japan’s Electricity and Gas Market Surveillance Commission (EGC) have formalised their collaboration through a Memorandum of Cooperation (MoC) signed on 13 July 2026. This agreement aims to enhance cooperation and information exchange in the gas and electricity markets, focusing on regulatory practices and system stability.

The MoC, signed in Singapore by EMA’s Chief Executive Puah Kok Keong and EGC’s Secretary General Tatsuya Shinkawa, outlines several collaborative activities. These include dialogues between the two organisations, technical exchanges, study visits, and joint research opportunities. The initiative is designed to keep regulatory practices current amidst a rapidly evolving energy landscape.

Puah Kok Keong emphasised the importance of these exchanges, stating, “Our exchanges with EGC are part of our efforts to ensure a well-functioning energy market and the reliability of power supply.” He also highlighted the upcoming Regulators@SIEW event during the Singapore International Energy Week in October 2026 as a platform for further discussions.

Tatsuya Shinkawa noted the shared challenges between Japan and Singapore in maintaining reliable energy supply and efficient electricity markets. “We are pleased to conclude this MoC with EMA and look forward to strengthening cooperation, exchanging experience, and enhancing consumer protection for the benefit of both countries,” he said.

This partnership marks a significant step in addressing common energy sector challenges and improving market regulation for both nations.

Q & M Dental Group has announced significant strides in its regional expansion strategy with the acquisition of stakes in Thailand and Australia. The group will gain a 51% stake in Deezy Q & M, a network of over 30 dental clinics in Thailand, for $27.5m (THB 994.5m). This acquisition will be financed through a combination of cash and new Q & M shares, subject to a 15-year lock-up. The deal is supported by a six-year profit guarantee, ensuring financial stability and growth potential.

The CEO of Q & M Dental Group, Ng Chin Siau, expressed confidence in the partnership with Deezy, citing the clinic’s professional team and established reputation as key factors in the decision. “Thailand has long been a market of interest for us, and Deezy stands out as the right partner for our next step forward,” he stated.

In addition, Q & M is set to acquire 100% of the Experteeth Group in Australia for $76.5m (A$119.64m). This acquisition includes 40 clinics and approximately 120 dentists across several Australian states. The deal is backed by an eight-year, $72m (A$112.6m) profit guarantee, with key dentists retained as strategic partners under 15-year service agreements.

Ng Chin Siau highlighted the significance of the Australian acquisition, noting, “Our acquisition of the Experteeth Group marks a defining milestone in Q & M’s internationalisation strategy and a significant step in our long-term ambition to build a leading dental services platform across the Asia-Pacific region.”

These strategic moves are set to enhance Q & M Dental Group’s presence beyond its existing markets in Singapore, China, and Malaysia, positioning the company as a formidable player in the Asia-Pacific dental services sector.

Thales, Singtel Group, and Bridge Alliance have unveiled the world’s first multi-operator enterprise eSIM connectivity network for the Internet of Things (IoT) in Asia Pacific. This innovative platform allows businesses to manage IoT devices across multiple countries and networks through a single, centralised solution, addressing the complexity of connectivity management and reducing operational costs.

The platform, developed with Bridge Alliance operators including Singtel, Optus, AIS, and Globe Telecom, has successfully passed interoperability testing and is now ready for enterprise IoT deployments across the region. It is set to expand to additional operators, enhancing its reach and capability.

The demand for flexible connectivity solutions is rising, with cellular IoT connections in Asia Pacific projected to hit 1.3 billion by 2030, according to GlobalData. Industries such as automotive, retail, utilities, logistics, and industrial sectors are driving this growth. The new eSIM network allows devices to automatically connect to the most suitable mobile network as they move between countries, eliminating the need for SIM card replacements and manual interventions.

Jorge Fernandes, Group Chief Technology Officer at Singtel, highlighted the platform’s ability to provide “seamless, easy-to-manage connectivity” and enhance operational efficiency. Nicolas Bouverot, VP Mobile Connectivity Solutions at Thales, emphasised the platform’s role in transforming cross-border IoT device management.

This development is particularly beneficial for sectors reliant on long-term connectivity, such as connected vehicles, utilities, and retail, offering improved resilience and reduced operational costs. As the platform expands, it promises to further streamline IoT deployments across Asia Pacific.

Asia-Pacific companies are experiencing substantial financial returns by addressing climate risks, according to the latest report from CDP. The Disclosure Dividend 2026 report highlights that businesses in the region are seeing a median return of $7 for every $1 invested in environmental risk management. This return is notably higher in South Korea, China, and Japan, with returns of $24, $11, and $9 respectively.

The report underscores the financial exposure of companies to transition risks, with $732b of revenue at stake. Transition risks, which arise during the shift to a net-zero economy, affect 11% of revenue across the region. Notably, China and Southeast Asia report 9% of revenue at risk, whilst Japan faces an 11% exposure.

Investments in emissions reduction are proving to be financially prudent, with a median payback period of 2.8 years for APAC companies. This is quicker than the median payback periods in Europe and the US, which stand at 3.7 and 3.0 years respectively. China leads the region with the fastest returns, achieving a median payback period of just 1.9 years.

The report also finds that companies engaging in environmental disclosure face approximately one-third less transition-related risk compared to those not disclosing. This suggests that transparency in environmental practices not only aids compliance but also mitigates financial risks.

The findings from CDP’s report highlight the tangible financial benefits for companies proactively managing climate risks, positioning them advantageously in the evolving global economy.

Lockton Asia has announced the appointment of Martin Allain as Head of Wholesale in its Regional Placement Team. Allain, who returns to the workforce after a brief retirement, will report to Piers Hughes, Head of Placement for Asia, and is set to enhance the firm’s technical capabilities and speciality expertise across the region.

Allain brings a wealth of international experience, having worked in North America, Europe, Australia, and Asia. He began his career with Marsh UK, focusing on North American business, and later became the Head of Marsh’s International Wholesale Operation in London. In 1995, he joined Reinsurance Australia Corporation as Property Underwriting Manager. Since moving to Singapore in 2003, Allain has held senior roles, including Managing Director for Facultative Business for Asia Pacific at THB Singapore and a position with Howden’s wholesale broking team.

His expertise spans a variety of speciality lines, such as Property, Power, Mining, Manufacturing, Multinational Programme Placement, Alternative Risk Transfer and Captives, Construction, Financial Lines, and Marine. Allain also possesses deep technical knowledge in sectors like Mining, Heavy Industry, Downstream Energy, and Power & Utilities.

Piers Hughes expressed enthusiasm about Allain’s appointment, stating, “We are delighted to welcome Martin to the Lockton Asia team. His global experience, technical strength, and on-the-ground understanding of the Asian market will further strengthen our ability to deliver differentiated placement strategies and exceptional results for our clients.”

Based in Singapore, Allain will collaborate with Lockton offices across Asia to enhance market engagement and support speciality placement solutions for clients throughout the region.

INFINITIX, a Taiwan-based AI infrastructure software company, has signed a Memorandum of Understanding (MOU) with Sarawak Information Systems Sdn Bhd (SAINS), Malaysia’s leading ICT solutions provider. This partnership aims to develop Sovereign AI platforms, private GPU cloud AI services, and a Token Factory operating model across Southeast Asia. This marks a significant step in INFINITIX’s expansion following its ventures in Japan and South Korea.

The agreement will see INFINITIX deploying its AIStack heterogeneous computing management platform and ixCSP AI cloud platform. These platforms are designed to help governments and enterprises build secure, scalable AI computing environments, maximise GPU utilisation, and rapidly deliver AI services. The collaboration will enable organisations to transform computing resources into scalable, monetisable AI services for applications such as Generative AI, Agentic AI, and Large Language Models (LLM).

SAINS, established in 1991, is the Sarawak State Government’s primary ICT partner, providing digital government, cloud, cybersecurity, AI, and smart city solutions. The company has implemented over 300 government information systems and is leading initiatives like Sovereign AI Infrastructure and GPU-as-a-Service.

WenYu Chen, co-founder and CEO of INFINITIX, stated, “The future of AI will be defined not by who owns the most GPUs but by who can manage and commercialise them most effectively.” The partnership combines SAINS’s public sector ICT leadership with INFINITIX’s expertise in GPU orchestration to accelerate national AI initiatives and regional digital transformation.

This collaboration strengthens INFINITIX’s international growth strategy as it continues to expand across Southeast Asia, working with governments, cloud service providers, and enterprise partners to advance the next generation of Sovereign AI and AI Cloud Economy.

The latest report from Turner & Townsend highlights the significant impact of AI infrastructure growth on Asia’s construction market, revealing a surge in demand for data centres that is straining market capacity and exacerbating skilled labour shortages. The Global Construction Market Intelligence report, now in its 17th year, indicates that 16 out of 29 Asian markets are experiencing “hot” or “overheating” activity, driven by investments in data centres, advanced manufacturing, and logistics.

Key findings show that residential and social housing remain Asia’s top-performing sectors, followed by data centres and industrial logistics. Tokyo leads as the most expensive construction market in Asia, with costs reaching $5,801.2 per square metre, largely due to its burgeoning data centre sector. Other Japanese cities like Osaka and Sapporo also rank high in construction costs.

The report warns of a severe shortfall in skilled labour, particularly in mechanical, electrical, and plumbing trades, crucial for tech-centred projects. Sumit Mukherjee, Managing Director for Real Estate for Asia at Turner & Townsend, emphasised the uneven demand concentrated on AI-driven sectors, stating, “There is a very real risk that growth in the pool of skilled labour needed to build data centres won’t keep up with demand.”

The report also notes that geopolitical uncertainties are creating opportunities in manufacturing-led construction, with nearshoring driving growth. In India, cities like Mumbai are set to experience significant inflationary pressures due to rising demand for transport infrastructure and commercial space.

As the construction market in Asia braces for further growth, the report underscores the need for strategic planning to address labour shortages and inflationary pressures.

ASEAN investors are increasingly turning to Australian real estate private credit as a means of securing reliable income and diversification amidst global economic uncertainties. This trend is highlighted in a new whitepaper by Zagga, a specialist in real estate private credit investment. The research reveals that 49% of ASEAN investors intend to boost their exposure to private credit, a figure that is 10% higher than the global average.

Zagga’s CEO and Co-Founder, Alan Greenstein, emphasised Australia’s appeal due to its stable economy and robust property market fundamentals. “Australia is undoubtedly a very credible destination for capital, with ASEAN investors recognising the investment potential on their doorstep,” he stated. Traditionally, ASEAN investors have favoured the US and UK markets, but there is now a growing interest in diversifying into Australian private credit, particularly real estate, which offers a unique risk-return profile.

The Australian private credit market, valued at approximately US$235b, has seen a compound annual growth rate of 21% over the past decade. Despite global challenges, Australia benefits from long-term demographic and property market drivers, supporting the evolution of its private credit market.

To aid investors, Zagga has launched an educational whitepaper series, “Opportunity through Uncertainty,” which explores the risks and opportunities in global private credit and the importance of governance and risk management. With over 1,000 entities in its global investor base, Zagga continues to expand its presence in the ASEAN region, appointing Roushana Sjahsam as Senior Board Adviser.

As the search for stability intensifies, Zagga’s initiative aims to provide investors with the necessary insights to navigate the complexities of the Australian real estate private credit market.

The Asia Pacific (APAC) real estate market is witnessing renewed investor interest as geopolitical tensions ease and interest rate outlooks become clearer, according to a recent report by Savills. Despite subdued transaction volumes in the second quarter, the market is expected to gain momentum towards the end of the year, driven by increased visibility and confidence among investors.

Artificial intelligence (AI) continues to play a significant role in the region’s capital markets, particularly in Taiwan and Korea, where technology stocks are seeing strong gains. This has led institutional investors to rebalance portfolios towards private assets such as infrastructure, private equity, and real estate, with improved pricing visibility and attractive valuations supporting increased allocations.

Asset conversion strategies are emerging as a key theme in APAC markets, particularly in developed regions like Hong Kong, Australasia, Korea, and Japan. These areas, characterised by older building stock, present opportunities for converting ageing office and hotel assets into rental housing, co-living spaces, and senior living facilities. The demand for such conversions is driven by stronger occupier demand in the living sectors compared to commercial spaces.

The data centre landscape in APAC is also evolving, with new facilities increasing in size to meet the demands of hyperscalers and AI workloads. However, access to power remains a primary constraint, influencing where capacity can be delivered. Larger projects require significant capital and early power access, favouring major operators over smaller developers.

In Korea, the living sector is seeing a shift in interest towards senior living, as the number of single-person households headed by individuals over 75 is projected to rise significantly. This demographic change is expected to redirect capital from youth rental markets to aged care facilities.

Hong Kong’s real estate market is showing signs of recovery, with residential markets rebounding and office sector declines slowing. The correction in asset values has opened up new strategies for asset repurposing, attracting capital from both equity and credit perspectives. As sentiment improves, the market is poised for rapid changes, with opportunities for investors to capitalise on discounted assets.

A recent survey by Atradius has uncovered a growing divide in the business-to-business (B2B) credit environment across Asia, with smaller companies facing heightened payment stress. The Atradius Payment Practices Barometer Asia, published today, analysed feedback from 2,145 suppliers in China, Hong Kong, India, Indonesia, Japan, Singapore, Taiwan, and Vietnam. It found that whilst larger firms maintain stable payment behaviour, smaller businesses and certain sectors are struggling with liquidity pressures and volatile demand.

The survey reveals a “two-speed credit landscape,” according to Silvia Ungaro, Senior Adviser on B2B payment trends at Atradius. “Risk is becoming more concentrated rather than widespread, masking a widening gap in performance,” Ungaro noted. Stronger companies continue to sustain stable payment behaviour, whereas weaker segments are experiencing rising strain.

Key sectors such as construction and trade are particularly vulnerable due to their reliance on trade credit and long payment cycles. Manufacturing is also showing signs of stress, with increasing overdue invoices and bad debts. In contrast, the services sector remains relatively stable but cautious, reflecting broader economic concerns.

The survey highlights that over 80% of suppliers have experienced late payments recently, driven by customer cash flow stress. This has led to a domino effect, with many firms delaying their own payments, thereby amplifying risks across supply chains.

Looking ahead, business sentiment remains uncertain. “Companies are almost evenly split between expecting payment conditions to improve or deteriorate in the months ahead,” Ungaro stated, underscoring the ongoing uncertainty in the region’s key trade markets.