Industry News

Asia Pacific commercial real estate investment volumes soared to a record US$47b in the first quarter of 2026, marking a 31% year-on-year increase, according to JLL’s latest report. This unprecedented growth underscores robust investor confidence and market resilience, despite geopolitical tensions in the Middle East affecting global energy markets.

Cross-border capital flows reached an all-time high of US$16.3b, an 87% increase from the previous year. Singapore led the region with a staggering 433% year-on-year growth, achieving US$11.5b in investment volumes. This was largely driven by significant asset transfers, including Hongkong Land and QIA’s transactions with SCPREF.

Japan maintained its position as the region’s top market, with US$13.2b in investments, despite a slight 4% decline year-on-year. The office sector dominated, accounting for US$24b in transactions, a 46% increase, whilst industrial and logistics investments rose by 53% to US$8.5b.

Data centre investments also surged to US$4.1b, driven by AI demand and data sovereignty needs. Hotel transactions increased by 36%, with Japan, China, and South Korea leading the activity.

Stuart Crow, CEO of Asia Pacific Capital Markets at JLL, noted the potential risks from energy shocks due to geopolitical events. However, he emphasised that mature markets like Japan and Singapore are likely to remain attractive due to their market depth and ability to mitigate energy import exposure.

Pamela Ambler, Head of Investor Intelligence at JLL, highlighted the growing focus on “Heavy Assets with Low Obsolescence,” presenting a compelling opportunity for long-term investors amidst declining new supply and favourable acquisition costs.

Citi has announced the appointment of Jonathan Alpert as Global Head of Insurance and Ryan Willingham as Managing Director for Speciality Finance, as part of its strategy to enhance its Financial Institutions Investment Banking division. With the insurance sector in Asia Pacific experiencing a surge in mergers and acquisitions and financing activities, these appointments aim to position Citi as a leading adviser in the region.

Jonathan Alpert, who will join Citi in September, brings over 28 years of experience from Bank of America, where he served as Co-Head of Global Insurance. Alpert’s expertise in handling significant cross-border insurance transactions is expected to bolster Citi’s capabilities in the insurance sector. He will collaborate with Brian Malbacho, North America Head of Insurance, to further develop Citi’s global insurance platform.

Ryan Willingham, set to join in August, also hails from Bank of America, where he led the Speciality Finance sector within the Financial Institutions group. With 19 years of experience, Willingham’s extensive client relationships across mortgage originators, servicers, and other speciality finance sub-verticals will be instrumental in expanding Citi’s reach in these areas.

These strategic hires underscore Citi’s commitment to building a market-leading Financial Institutions franchise and supporting growth among leading insurers in Asia Pacific. As the region continues to be a hub of deal-making activity, Citi’s enhanced team is poised to capitalise on emerging opportunities and drive further growth.

A recent report by ADP Research has revealed that only 22% of workers globally feel their jobs are safe from elimination, with the Asia Pacific region showing the lowest confidence levels. In Singapore, a mere 15% of employees believe their positions are secure, according to the People at Work 2026 report.

The findings underscore a significant challenge for employers, as job security is increasingly linked to employee engagement, productivity, and retention. Globally, workers who feel secure in their roles are six times more likely to be fully engaged and twice as likely to remain with their current employer.

Jessica Zhang, Senior Vice President of APAC at ADP, noted, “AI is reshaping work at the task level, creating new job categories whilst transforming existing ones. The findings highlight a clear gap between actual employment conditions and how secure workers feel about their future.”

In Singapore, younger workers aged 18 to 26 are the most confident, with 22% feeling secure in their jobs. Confidence also varies by job scope, with knowledge workers (21%) feeling more secure than those in skilled (12%) and repetitive tasks (10%). Medium-sized organisations (250–999 employees) report the highest confidence levels among their workers.

Dr. Nela Richardson, chief economist at ADP, emphasised the business implications, stating, “Job security has become a business issue, not just a workforce sentiment measure. Employers that pair honest communication with meaningful skills investment will be in a much stronger position to build a resilient workforce.”

The report suggests that employers need to address these concerns through clearer communication, skills investment, and workforce planning to enhance job security and employee confidence.

Southeast Asia’s e-commerce market is projected to grow significantly, becoming the world’s second-fastest growing market by 2029, according to a study by IDC commissioned by 2C2P by Antom. The region’s e-commerce sector is expected to expand by 85.4%, reaching US$289.8b, with digital payments playing a pivotal role in this growth.

The study highlights that digital payments will account for 97% of e-commerce transactions by 2029, up from 89% in 2024. Mobile wallets and domestic payment schemes are set to overtake traditional card payments, with domestic payments expected to increase by 104% to US$92b. Mobile wallets are projected to grow by 107%, reaching US$79b, whilst Buy Now Pay Later (BNPL) services are anticipated to surge by 174% to US$18.9b.

Small and medium-sized enterprises (SMEs) are identified as crucial to this growth, with the potential to unlock an additional US$20.8b in regional e-commerce value through increased cross-border participation. However, challenges such as integration complexity, fraud concerns, and fragmented payment systems remain barriers to their digitalisation.

Worachat Luxkanalode, Group CEO of 2C2P by Antom, emphasised the importance of equipping businesses with the necessary tools to navigate the complex payment landscape. “Southeast Asia’s businesses, especially SMEs, are at the heart of the region’s economic growth,” he stated.

As Southeast Asia’s e-commerce market continues to expand, the focus will be on overcoming digitalisation challenges to fully capitalise on the region’s digital economy potential.

BGI Genomics has announced its participation in the HGP2 Rare Disease Alliance of the Asia-Pacific Region (HGP2 RaDiAnce–APAC), a coalition aimed at addressing the diagnostic challenges of rare diseases in the region. The alliance, launched on 10 May in Kuala Lumpur, brings together experts from 10 countries under the Human Genome Project II (HGP2) framework.

The initiative seeks to improve rare disease diagnosis and care by focusing on five key areas: ethics, accessibility, collaboration, acceleration, and public response. The alliance’s efforts are expected to enhance genomic medicine and public health responses across the Asia-Pacific.

Hou Yong, General Manager of BGI Genomics, highlighted the alliance’s potential to “advance the standardisation, intelligent transformation, and e-health” in the region. This collaboration is seen as a significant step towards integrating genomics, artificial intelligence, and advanced technologies into healthcare systems.

YBhg. Datuk Dr. Nor Fariza Binti Ngah, Deputy Director-General of Health (Research and Technical Support) at Malaysia’s Ministry of Health, emphasised the importance of transitioning from reactive to predictive and preventive healthcare. “Precision health is not a future ambition, but a present responsibility,” she stated, underscoring Malaysia’s commitment to integrating genomics and strong policy frameworks into its health system.

The alliance’s formation marks a concerted effort to close the care gap for rare diseases, potentially transforming healthcare delivery and outcomes in the Asia-Pacific region.

Swiss-founded BE WTR is making significant strides in Southeast Asia by acquiring Porla’s operations in Singapore and Hong Kong, alongside forming a new licensing partnership in Thailand. This expansion, announced on 12 May 2026, aims to redefine the premium water market in the region’s hospitality and F&B sectors by promoting locally bottled water as a sustainable alternative to imported brands.

The acquisition doubles BE WTR’s presence in Singapore and integrates Porla’s existing operations, which have served high-end clients like Raffles Hotel Singapore and Four Seasons Hotel Singapore since 2015. This move brings over 300 corporate clients under BE WTR’s management, enhancing its market footprint and profitability in Singapore.

BE WTR’s CEO, Mike Hecker, emphasised the environmental and economic benefits of locally sourced water, stating, “Shipping a glass bottle across the globe only to use it once is no longer defensible environmentally or economically.” The company’s ultra-filtration technology ensures high-quality water by removing pollutants and microplastics whilst maintaining essential minerals.

Peter Ulrich, Director of Porla, expressed enthusiasm for the partnership, highlighting BE WTR’s commitment to quality and sustainability. The collaboration in Thailand is expected to meet the growing demand for premium, sustainable water solutions in the region’s expanding hospitality market.

BE WTR’s expansion aligns with its mission to challenge the status quo of the bottled water industry, offering a fully circular system where bottles are reused over 300 times. This approach not only reduces environmental impact but also provides cost efficiencies for F&B operators.

Franklin Templeton has announced the appointment of Jiun Wen Chee as Head of Private Markets, APAC Wealth. Based in Singapore, Chee will spearhead the expansion of Franklin Templeton’s private markets franchise across the Asia Pacific region. He will collaborate with investment, distribution, and product teams to enhance the firm’s private equity, private credit, real estate, and infrastructure offerings for wealth clients. Chee reports to Jeff Masom, Head of US Distribution and Global Wealth Management Private Markets, and Christian Bucaro, Head of Wealth, Asia.

The appointment comes amid increasing demand for private market strategies among wealth clients in Asia Pacific. Franklin Templeton’s alternatives assets under management (AUM) reached US$286b as of 30 April 2026. The firm raised approximately US$23b in private markets over the past two quarters, with significant contributions from the Asia Pacific wealth channel.

Jeff Masom commented, “Jiun Wen brings deep private markets experience and a strong understanding of the Asia Pacific wealth market. His expertise will help us build on our relationships across the region and deliver solutions that are well structured, scalable, and relevant for clients.”

Chee, with over two decades of experience in alternatives, private wealth, and institutional advisory, previously served as a Managing Director at Bank of Singapore. He played a pivotal role in expanding client adoption of private markets there. Chee holds a Bachelor of Science (Honours) in Economics from the University of Warwick, UK.

Chee’s appointment is subject to regulatory approval by the Monetary Authority of Singapore.

Ant International has unveiled its 2025 Sustainability Report, highlighting efforts to democratise artificial intelligence (AI) for small and medium-sized enterprises (SMEs) and enhance trust in digital finance. The report marks the first time sustainability metrics have been integrated into management performance evaluations, a move Chairman Eric Jing describes as making accountability “structural, not aspirational.”

Key initiatives include the introduction of new AI tools for SMEs and fintech partners across Asia, such as EPOS360 in Southeast Asia and FinAI-as-a-Service capabilities supporting partners like Malaysia’s TNG eWallet. The company has also expanded investments in anti-fraud, anti-money laundering (AML), and privacy-enhancing technologies, with the Alipay+ Privacy Enhancing Technology (PET) programme receiving recognition from Singapore’s Personal Data Protection Commission.

Ant International’s global reach now connects 2 billion user accounts with 150 million merchants, supporting 1.6 million SMEs and enabling credit access for over 30 million underserved businesses and individuals. “Our success relies on our ability to innovate for small businesses and emerging markets,” said Peng Yang, CEO, emphasising the company’s commitment to inclusion.

The report also details Ant International’s focus on enhancing compliance and technology foundations of trust, with significant investments in AML and security technologies. The SHIELD 3-in-1 Transformer model, for instance, identifies high-risk transactions with over 95% precision.

Looking ahead, Ant International plans to accelerate investments in compliance capabilities to navigate evolving regulatory environments. “Sustainability is increasingly becoming our primary driver of responsible innovation,” said Leiming Chen, Chief Sustainability Officer, underscoring the company’s commitment to inclusive and impactful global progress.

Cushman & Wakefield has announced the appointment of Leon Ikeda as Head of Advisory & Transactions for the Asia Pacific Data Centre Group, effective May 2026. Based in Singapore, Ikeda will lead strategic advisory and transaction execution for data centre operators, investors, and hyperscale clients across the region. He will report to Andrew Green, Head of Data Centre Group, Asia Pacific, and collaborate with regional and global teams to support capital deployment and strategic partnerships.

Ikeda’s role will focus on delivering advisory-led solutions in acquisitions, divestments, and portfolio strategies within the expanding digital infrastructure ecosystem. Andrew Green highlighted the importance of Ikeda’s appointment, stating, “The data centre sector is evolving at unprecedented speed, driven by cloud adoption, AI, and digitalisation across Asia Pacific. Leon’s appointment reflects the growing importance of combining advisory excellence with real-world operator experience.”

Returning to Cushman & Wakefield after over a decade, Ikeda brings extensive experience from his previous roles at Equinix and Digital Realty, where he led significant transactions in Japan and Asia Pacific. His dual-perspective approach combines institutional advisory experience with hands-on execution expertise, enabling the firm to deliver commercially grounded solutions across the data centre lifecycle.

Ikeda expressed enthusiasm about his new role, stating, “Data centre strategy today requires a far more integrated approach than ever before—spanning capital allocation, site selection, scalability, and long-term platform value. Having worked on both the advisory and operator sides, I’m excited to return to Cushman & Wakefield and help clients navigate complexity with solutions that are practical, executable, and aligned with their long-term growth across Asia Pacific.”

DKSH has announced a new distribution agreement with Novaphene, a prominent manufacturer of personal care ingredients, to expand its reach in Malaysia, Singapore, and Thailand. This collaboration will see DKSH’s Business Unit Performance Materials providing business development, marketing, sales, logistics, and distribution services for Novaphene’s range of high-performance personal care ingredients.

The agreement encompasses Novaphene’s entire portfolio, including trademarked products such as Novaguard, Novapreserv, Novakare, and Novasolve. These ingredients are designed to enhance the safety, efficacy, and performance of cosmetic formulations, meeting the growing demand for innovative solutions in the region’s dynamic beauty markets.

Novaphene, known for its high-quality personal care ingredients, aims to leverage DKSH’s strong local presence and market expertise to support its growth in Southeast Asia. Saral Shah, Director of Novaphene Specialities Pvt Ltd, stated, “This collaboration with DKSH represents a natural extension of our commitment to serving global customers with world-class personal care solutions.”

Michelle Delac, Vice President of Global Personal Care Industry at DKSH, expressed enthusiasm about the partnership, noting that Novaphene’s solutions align with current market needs. “We look forward to growing in these markets together,” she said.

This strategic move highlights the importance of the Southeast Asian market for Novaphene and underscores DKSH’s role in facilitating market expansion for its partners. As consumer preferences evolve, the demand for high-performance personal care products continues to rise, making this partnership a timely and significant development in the industry.