Industry News

SC Capital Partners, a prominent Asia Pacific real estate investment manager, has initiated construction of a significant Grade A industrial park in Ras Al Khaimah, United Arab Emirates. This development marks the firm’s first project under the SC GCC Real Estate Industrial Development Fund (GRID), co-sponsored with CapitaLand Investment Limited. The industrial park, located in the Ras Al Khaimah Economic Zone, spans approximately 300,000 square metres and incorporates sustainability features such as water-saving systems.

The project aims to meet the growing demand from high-tech manufacturers and logistics firms for modern, high-specification facilities in the UAE. Interest from potential tenants has already surpassed the planned gross floor area, highlighting the demand for institutional-quality industrial assets in the region. Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “Breaking ground on this project is a tangible demonstration of our ability to convert strategy into execution in the GCC.”

SC Capital Partners has also appointed Yazan Masri as Managing Director, Investments (Middle East). Based in Abu Dhabi, Masri will lead the firm’s investment and business development activities across the Middle East. He brings over 20 years of experience in real estate private equity and principal investing, having held senior roles at Abu Dhabi Capital Group and Al Mal Capital PSC.

Masri expressed enthusiasm about his new role, saying, “I am pleased to join SC Capital Partners as it breaks ground on its first GCC industrial park.” His appointment is expected to strengthen SC Capital Partners’ leadership as it expands its Middle East platform and investments in GRID and other regional strategies.

Willis, a WTW business, has announced the appointment of Alex Benson as Head of Construction and Natural Resources Claims in Asia, effective 6 April 2026. Based in Singapore, Benson will report to Alex Rosati, Head of Claims for Asia at Willis. His role will involve providing technical claims advice, advocacy, and resolution services, working closely with Willis’ regional claims team and global specialists.

Benson’s extensive experience in insurance claims adjustments, particularly in civil construction projects and natural resources losses, is expected to enhance Willis’ service offerings. “Alex Benson brings a wealth of experience in insurance claims adjustments with major adjuster organisations,” said Rosati. “His addition to our claims team in Asia will benefit our clients, particularly as companies in the construction and natural resources industries face increasingly complex risk challenges.”

Alan Long, Global Head of Natural Resources Claims at Willis, highlighted the strategic importance of Benson’s appointment, stating, “This addition to our team also reflects the importance we place on claims services and solutions, and our commitment to specialisation in all aspects of our proposition for clients.”

Benson, a Chartered Loss Adjuster and certified member of the European Federation of Loss Adjusting Experts, has held senior positions at global loss adjusting firms. Having spent the past decade in Asia, he has built a strong reputation with clients and industry participants. His appointment underscores Willis’ commitment to delivering specialised claims services in the region.

HSBC Private Bank has announced several senior appointments across Asia, underscoring its strategic focus on offshore China and Global India. These changes aim to strengthen the bank’s wealth planning and leadership in Southeast Asia, as well as its coverage for key international corridors.

In a move to enhance its Global India coverage, HSBC has appointed Phaneendar Bhavaraju and Rangan Krishnan as Senior Relationship Managers in Singapore. Both bring extensive experience in wealth management and will report to Manoj Ramarao, Senior Desk Head, Global India, Singapore and Hong Kong. Phaneendar has a background in private banking and structured finance, whilst Rangan has held leadership roles in wealth management across Asia.

For its Chinese clientele, Alex Liu has been appointed Market Head of Offshore China, extending his responsibilities to include teams in Singapore. Based in Hong Kong, Liu will report to Kanas Chan, Head of North Asia and Hong Kong. This appointment aims to enhance HSBC’s ability to serve the international needs of Chinese clients.

Dawn Fung has been confirmed as Head of Wealth Planning, Southeast Asia. With over 25 years of experience, Fung will continue to lead the region’s wealth planning initiatives, focusing on high net worth and ultra-high net worth clients.

In Thailand, William Fok has been appointed Country Head of Private Bank, bringing over 20 years of experience in structured products and investment advisory. Fok’s return to HSBC marks a strategic move to strengthen the bank’s onshore private banking business in Bangkok.

These appointments reflect HSBC’s commitment to expanding its capabilities and capturing opportunities in key Asian markets.

Cyber incidents remain the foremost concern for businesses in Asia Pacific, according to the Allianz Risk Barometer 2026. The survey highlights that cyber threats, particularly ransomware attacks, are the top risk for companies of all sizes, with 36% of respondents identifying it as their primary concern. Whilst artificial intelligence (AI) has surged to the second position, marking the most significant rise in the rankings, as businesses grapple with its operational, legal, and reputational implications.

The Allianz Risk Barometer, an annual survey by Allianz Commercial, underscores the evolving risk landscape in the region. AI’s rapid ascent from ninth to second place reflects its growing influence across various industries. Thomas Lillelund, CEO of Allianz Commercial, noted, “Given the continuing rise of AI across society and industry, it is unsurprising that it is the big mover in the Allianz Risk Barometer.”

Business interruption, previously a top two risk, has dropped to third place but remains a significant concern due to its links with geopolitical risks and natural catastrophes. Christian Sandric, President of Allianz Commercial Asia Pacific, emphasised the importance of resilience, stating, “The evolving risk landscape, particularly in the areas of cyber threats and the adoption of AI, pose new challenges to businesses in the region.”

The survey also reveals that the Asia Pacific region experienced the highest number of cyberattacks globally in 2024, accounting for 34% of incidents. Despite increased cyber resilience, many large companies in Asia remain self-insured, highlighting a gap in coverage compared to their American and European counterparts.

As AI continues to integrate into core business operations, its associated risks are expected to intensify, particularly concerning liability issues. The rapid adoption of generative AI systems has heightened awareness of potential vulnerabilities, making it a top concern for companies worldwide.
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HSBC Private Bank has announced a series of senior appointments across Asia, aimed at reinforcing its wealth planning and leadership in Southeast Asia, and strengthening its coverage for offshore China and Global India. These regions are identified as key strategic focus areas for the bank’s growth.

The bank has expanded its Global India coverage team in Southeast Asia, reflecting the segment’s growing importance. Phaneendar Bhavaraju and Rangan Krishnan have joined as Senior Relationship Managers in Singapore, reporting to Manoj Ramarao, Senior Desk Head, Global India, Singapore and Hong Kong. Phaneendar brings over 28 years of experience in various financial sectors, whilst Rangan has over 31 years in wealth management, most recently serving at Bank of Singapore.

In a move to enhance international coverage for Chinese clients, Alex Liu has been appointed Market Head of Offshore China. Based in Hong Kong, Liu will extend his coverage to include Offshore China teams in Singapore, reporting to Kanas Chan, Head of North Asia and Hong Kong. This appointment aims to better serve the international needs of Chinese clients and capture opportunities in the Greater China business.

Additionally, Dawn Fung has been appointed Head of Wealth Planning, Southeast Asia. With over 25 years of experience, Fung will continue to lead the region’s wealth planning agenda, focusing on high net worth and ultra-high net worth clients.

In Thailand, William Fok has been appointed Country Head of Private Bank, bringing over 20 years of experience in structured products and investment advisory. Fok’s appointment marks a return to HSBC, where he previously worked in Hong Kong and Bangkok.

These strategic appointments underscore HSBC Private Bank’s commitment to strengthening its leadership and expanding its services across key Asian markets.

Human Resource Directors (HRDs) across Asia are increasingly becoming strategic change leaders, according to new research from Hays. The study, which involved 271 senior HR professionals from China, Hong Kong SAR, Japan, Malaysia, and Singapore, indicates that 44 percent of HRDs expect their roles in designing and managing organisational change to expand significantly over the next five years.

The report, titled “The DNA of a HRD,” highlights a shift in priorities, with stakeholder engagement now considered the most critical skill for success, as cited by 51% of respondents. This marks a departure from traditional strategic planning. However, challenges such as organisational politics, identified by 40% of HRDs, and limited career growth opportunities, noted by 26%, persist.

Japan’s HR leadership approach stands out, with 36% of HRDs emphasising stakeholder engagement as a key quality for aspiring candidates.

Adrian Lam, Regional Director at Hays Hong Kong SAR, remarked, “In Hong Kong, HR Directors are particularly ambitious when it comes to career progression. Our research shows that 60% are actively seeking a bigger role, whether by stepping into a more complex organisation or moving into a Group HRD position.”

The findings underscore the evolving role of HRDs as they navigate complex global challenges, with many pursuing international opportunities to broaden their perspectives. The report suggests that such experiences are transformative, enhancing strategic thinking and equipping HR leaders with the tools needed for today’s dynamic market.

Strategic Marine has successfully delivered its second 27-metre Z-Bow Crew Transfer Vessel (CTV) to a customer in Taiwan, marking the completion of a two-vessel programme aimed at supporting offshore wind operations in the region. Developed in collaboration with BMT Limited, the vessel is equipped with advanced features such as controllable pitch propellers, bow thrusters, and an Active Fender System, ensuring reliable performance in challenging conditions.

The delivery signifies Strategic Marine’s capability in executing multi-vessel construction programmes and meeting specific regional requirements. This second vessel handover also completes a four-CTV building programme initiated in Q2 2024 with the same customer.

Chief Executive Officer of Strategic Marine, Chan Eng Yew, stated, “The successful delivery of the second 27m Z-Bow CTV to Taiwan marks another step forward in our collaboration with the customer. These vessels highlight our focus on building dependable, high-performance solutions that support the continued expansion of offshore wind energy.”

Strategic Marine, a Singapore-based shipyard, continues to collaborate with operators and partners globally to deliver innovative aluminium vessels tailored to the evolving needs of the offshore wind sector. This latest delivery underscores the company’s commitment to providing high-quality, specialised vessels for both civilian and defence applications. As the offshore wind industry expands, Strategic Marine’s role in supplying advanced vessels is expected to grow, further supporting the sector’s development.

Skyscanner has unveiled its Cheapest Destination Planner, a new tool designed to assist Singaporean travellers in planning cost-effective holidays for 2026. The widget aims to address common travel planning challenges, such as feeling overwhelmed and concerns over expenses, which affect 63% and 69% of travellers, respectively. By showcasing the lowest-priced destinations and optimal travel days each month, the tool promises to streamline the holiday planning process.

The launch comes as 91% of Singaporeans plan to travel abroad this year, with many seeking relaxation and new experiences. However, only 60% have booked flights, with cost and destination indecision being significant barriers. Skyscanner’s new tool, along with a curated list of the top 10 cheapest destinations for 2026, offers solutions for quick and affordable getaways.

Cyndi Hui, Skyscanner’s Travel Trends and Destinations expert, highlighted the appeal of the tool for time-starved Singaporeans. “With great value fares and smart tools that do the hard work for you, Skyscanner helps travellers spend less time planning and more time enjoying the break they deserve,” she said.

The top 10 cheapest destinations include Phuket, Manila, and Bali, with average return flight prices under S$517. The Cheapest Destination Planner also provides insights into the best days to travel, with Sunday identified as the most cost-effective day on average. Skyscanner continues to innovate, offering features like price drop alerts and multi-city trip options to enhance travel experiences.

Southeast Asia’s FinTech sector experienced a notable shift in 2025 as investors gravitated towards established transaction platforms, according to the latest Tracxn Geo Funding Trends Report. Total funding fell by 21% to $1.4b, reflecting a structural correction in the market. However, late-stage investments increased by 13%, highlighting a preference for mature companies with proven track records.

The report reveals a significant decline in risk appetite, with seed and early-stage funding contracting by 53% and 51% respectively. Despite the overall downturn, the number of funding rounds exceeding $100m remained stable at three, indicating sustained confidence in market leaders. Payments and digital remittance platforms attracted the majority of capital, securing $724m and $633m, respectively.

Singapore emerged as the dominant hub, capturing 85% of the region’s funding, underscoring its regulatory stability and investor accessibility. The year saw a moderation in unicorn creation, with only one new unicorn compared to two in 2024. Exit activities also shifted, with acquisitions dropping by 25% to 18 deals, whilst IPOs increased by 50% to three.

The report highlights that investor participation varied across stages, with Iterative, 500 Global, and Selini Capital leading seed-stage investments. Meanwhile, Peak XV Partners, Singtel Innov8, and Prosus were prominent in early-stage funding, and DST Global, Unbound, and Asia Partners dominated late-stage investments.

Overall, the SEA FinTech ecosystem in 2025 reflected a cautious investment environment, with a focus on mature companies and strategic capital allocation. The trend suggests a continued emphasis on stability and proven performance in the region’s financial technology landscape.

Aon plc has announced the appointment of Kulshaan Singh as the enterprise client leader for Asia Pacific, effective immediately. Based in Singapore, Singh will focus on delivering innovative risk and human capital solutions to Aon’s enterprise and multinational clients across the region. Reporting to Craig Torgius, Aon’s chief client officer and head of enterprise clients for Asia Pacific, Singh is tasked with building strategic partnerships and unlocking new growth opportunities.

Singh brings over 20 years of experience in consulting and executive leadership, having held significant roles such as managing director for talent solutions for Southeast Asia at Aon, CEO of Mercer Singapore, and chief people officer at Charoen Pokphand Group. Most recently, he served as the global group chief people officer at Thai Union Group, where he led large-scale transformation initiatives.

Craig Torgius praised Singh’s strategic acumen and execution ability, stating, “His ability to lead transformation, foster collaboration, and deliver results across diverse industries will be invaluable in helping clients navigate an increasingly complex risk landscape.”

Expressing enthusiasm for his new role, Singh said, “I feel privileged and excited to be back at Aon and look forward to working closely with Aon’s global and local teams to deliver solutions that help clients navigate complexity and interconnected challenges.”

Aon, a leading global professional services firm, provides clients in over 120 countries with insights and solutions to make better risk and people decisions. Singh’s appointment is expected to enhance Aon’s capabilities in the Asia Pacific region, supporting clients in achieving their growth ambitions.