Industry News

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.

Seraya Partners, an independent private equity fund based in Asia, has released a whitepaper titled “The High Energy Convergence,” which explores the impact of artificial intelligence (AI) adoption and energy market volatility on infrastructure investment in the Asia-Pacific region. The report highlights the challenges posed by energy constraints and grid bottlenecks, which are influencing the next phase of infrastructure growth across Asia.

The whitepaper reveals that Asia-Pacific’s data centre capacity is expected to increase from approximately 32 gigawatts (GW) in 2025 to 57 GW by 2030, driven largely by AI workloads. It also estimates that around $2t in energy transition investment will be necessary by 2030 to meet the rising demand for digital and electrification solutions. Large-scale AI facilities are increasingly requiring power capacities of 100 megawatts (MW) or more, underscoring the need for integrated digital and energy infrastructure solutions.

James Chern of Seraya Partners commented, “AI-driven demand and power constraints are converging to reshape Asia’s next infrastructure cycle. This is creating a structural shift towards more integrated digital and energy infrastructure solutions across the region.”

The report identifies several key themes, including the importance of grid access, interconnection timelines, and energy security in determining infrastructure development. It also highlights the rise of integrated digital-energy infrastructure models, such as data centres paired with distributed energy and battery storage solutions.

Seraya Partners, headquartered in Singapore, manages $2.5b in assets and focuses on middle-market platform investments in digital infrastructure and energy transition sectors across the developed Asia-Pacific region and Southeast Asia.

Private equity (PE) investment in Southeast Asia (SEA) experienced a significant boost in the first quarter of 2026, with $9.2b deployed across 19 deals, marking the highest quarterly deal value in five years. This surge was primarily driven by three megadeals, each exceeding $1b, which accounted for 91% of the total capital deployed, according to the EY-Parthenon Southeast Asia Private Equity Pulse report.

Singapore emerged as the primary hub for PE activity in the region, contributing 94% of the deal value and 68% of the deal volume. The infrastructure sector dominated, representing 77% of the total deal value, largely due to significant investments in the data centre segment by Coatue Management and KKR.

Luke Pais, EY-Parthenon Asean Private Equity Leader, noted, “SEA seems firmly back in deal‑making mode. Despite macroeconomic headwinds, investment momentum is strong, with capital flowing across sectors.”

The region also saw six PE-backed exits, generating $1.7b, a 75% increase in exit value year-on-year. However, fundraising remained subdued, reflecting cautious sentiment amid global geopolitical uncertainties, particularly the Middle East conflict.

The EY Global Private Equity Pulse Survey highlighted that 56% of general partners view geopolitical and macroeconomic volatility as the greatest risk to portfolio performance over the next 12 to 24 months. The survey suggests that general partners should reassess exit strategies, strengthen portfolio resilience, and deploy capital selectively to navigate these challenges.

As SEA continues to attract global investors, the focus on digital infrastructure and strategic capital deployment is expected to shape the region’s PE landscape in the coming years.

Asean has announced a renewed commitment to enhancing supply chain resilience across the region, with a particular focus on integrating green and digital initiatives. This strategic move aims to address vulnerabilities exposed by recent global disruptions and ensure sustainable economic growth.

The initiative, unveiled by Asean leaders, seeks to create a more robust and interconnected supply chain network. By leveraging digital technologies, Asean plans to streamline operations, improve efficiency, and reduce environmental impact. The integration of green practices is expected to promote sustainability and align with global environmental goals.

Asean’s push for digital transformation includes the adoption of advanced technologies such as artificial intelligence and blockchain to enhance transparency and traceability within supply chains. These technologies are anticipated to facilitate smoother trade flows and reduce bottlenecks.

Incorporating green initiatives, Asean aims to minimise carbon footprints and promote eco-friendly practices across industries. This approach not only supports environmental sustainability but also enhances the region’s competitiveness in the global market.

The announcement underscores Asean’s proactive stance in addressing supply chain challenges and its commitment to fostering a resilient and sustainable economic environment. As these initiatives take shape, they are expected to provide a blueprint for other regions aiming to balance economic growth with environmental responsibility.

ST Engineering has announced a significant expansion of its smart mobility initiatives in the Middle East, securing two major projects valued at over $100m. The projects involve the maintenance of an intelligent transport system (ITS) in Qatar and the deployment of the GoParkin smart car park solution in Jordan.

Under a three-year contract that began in the first quarter of 2026, ST Engineering Urban Solutions has been selected by EGIS QBC JV to support Qatar’s national ITS. This involves comprehensive maintenance for the Road Management Centre of Ashghal, Qatar’s Public Works Authority, ensuring efficient traffic management and safe tunnel operations across the country’s road network.

In Jordan, the company will implement its GoParkin smart car park system at the King Hussein Business Park, with the rollout expected to start in the third quarter of 2026. This system will feature automatic number plate recognition, electric vehicle charging, and multimodal payment capabilities, aiming to enhance user experience and operational efficiency.

Gareth Tang, President of ST Engineering’s Urban Solutions business, stated, “These wins underscore our customers’ confidence in our ability to support complex, mobility systems at both national and city scale.”

ST Engineering has a strong presence in the Middle East, having delivered projects like Dubai’s iTraffic AI-powered ITS and Abu Dhabi’s multimodal intelligent transportation platform. Globally, the company has completed over 60 ITS projects in more than 40 cities, contributing to safer and more efficient urban mobility.

KnowBe4, a leader in digital workforce security, is accelerating its expansion across Asia following a successful series of cloud email security launch events in Singapore, Hong Kong, and the Philippines. The company plans to continue its regional tour with an event in Malaysia this July, driven by increasing demand for solutions that counter sophisticated AI-driven cyberattacks.

The recent Singapore event highlighted the growing threat of hyper-personalised email attacks, which have evolved from mass spam due to the use of generative AI and stolen logins. According to KnowBe4, 95% of Chief Information Security Officers (CISOs) believe client and corporate data is at risk via email, and 93% of organisations have experienced outbound email data breaches.

The events showcased KnowBe4’s Collaboration Security capabilities, demonstrating how AI-powered behavioural detection and real-time user feedback can mitigate email risks without hindering productivity. Dr. Kawin Boonyapredee, CISO adviser at KnowBe4, emphasised the need for a fundamental shift in securing emails, stating, “We must move beyond outdated models and focus on protecting the entire modern workforce.”

KnowBe4’s expansion in Asia is supported by growing regional teams and an increasing customer base. The company is investing in local expertise to address regional threat patterns and regulatory requirements. With further executive engagements planned across Asia Pacific, KnowBe4 aims to transform the modern workforce into a resilient security layer.

Southeast Asian businesses are shifting their approach to divestitures, treating them as strategic tools rather than reactive asset sales, according to Deloitte’s 2026 Global Divestiture Survey. The report highlights a growing trend among corporates, state-linked entities, and family conglomerates in the region to use divestitures to sharpen strategic focus, unlock value, and fund growth.

The survey identifies five key themes that are expected to shape the divestiture landscape in Southeast Asia over the next 12 to 24 months. Firstly, divestitures are increasingly being driven by strategic portfolio management rather than opportunistic disposals. Companies are reassessing their portfolios in light of geopolitical risks and shifting trade patterns, reallocating capital towards technology and resilient supply chains.

Preparation quality is also emerging as a critical factor, with leading sellers adopting global best practices to accelerate value and timing. However, many organisations, particularly first-time sellers and mid-market family groups, still face challenges in this area, leading to prolonged diligence and increased execution risk.

External market conditions remain a significant influence on valuations, with Southeast Asia experiencing stabilising deal activity and strong interest in technology, healthcare, and infrastructure. Execution certainty and regulatory navigation are crucial differentiators, especially in sectors like energy and financial services.

Finally, the report emphasises the importance of building institutional “divestiture muscle” to manage multi-year portfolio programmes effectively. As private equity and infrastructure investors target corporate carve-outs, the demand for professionalism and value-creation clarity is expected to rise.

Deloitte’s survey suggests that Southeast Asian companies are moving towards a modernised approach to divestitures, focusing on strategic fit and future competitiveness. This shift is seen as essential for unlocking capital for growth and positioning organisations to compete on a regional scale.

Visa has announced the launch of its experience-led travel programme, Visa Destinations, in the Asia Pacific region, starting with Thailand. This initiative aims to connect cardholders with curated, destination-specific experiences, offering exclusive access and privileges through partnerships with local hospitality, dining, and entertainment providers. Singapore is set to join the programme in 2026.

The programme is designed to cater to the evolving travel preferences of consumers, who are increasingly opting for shorter, intraregional trips and seeking meaningful experiences. Visa Destinations offers a digital platform where cardholders can discover and book cultural experiences, such as Bangkok’s Songwat Experience, which highlights the city’s heritage and local culture.

Visa’s data indicates that travel remains a significant spending category in Asia Pacific, with $180b in travel spend, accounting for over 17% of total Visa card spending in the region. The programme aims to capture this demand by focusing on well-connected hubs like Bangkok, Singapore, and Tokyo.

T R Ramachandran, Head of Products and Solutions at Visa Asia Pacific, stated, “We’re seeing more travellers spend more time in destinations closer to home, choosing experiences that are deeper and more authentic.” Visa Destinations aims to provide these experiences, enhancing travel for cardholders with additional privileges for Visa Infinite and Visa Signature members.

As Visa Destinations continues to expand globally, it will soon include cities like New York, San Francisco, and Singapore, offering a wide array of benefits and experiences tailored to the preferences of modern travellers.

Lockton has announced significant leadership changes in its Asian operations, appointing Nicholas Lee as CEO Designate of Malaysia and Jaideep Sharma as CEO of India, subject to regulatory approval. These appointments aim to enhance Lockton’s regional capabilities and client service across Asia.

Nicholas Lee, who returns to Lockton with over 20 years of experience in insurance broking and risk management, will lead Lockton Sime in Malaysia. His previous roles include Director at Moody’s Analytics and founder of a consultancy focused on emerging risks and insurance transformation. Lee’s expertise in strategic sales leadership and client advisory is expected to bolster Lockton’s growth in Malaysia.

In India, Jaideep Sharma, known for his global leadership experience, will take over from Dr Sandeep Dadia, who transitions to a Non-Executive Officer role. Sharma’s career highlights include leading Marsh Saudi Arabia to become the top broker in the country and serving as Market Leader for Aon in Connecticut. His dual role as Regional Head of Specialties for Lockton Asia will continue, ensuring continuity and momentum in India.

Tony Hardy, CEO of Lockton Asia, praised the new leaders, stating, “Nick and Jay represent the very best of our industry—leaders with deep expertise, global perspective, and an uncompromising commitment to putting clients first.”

These appointments underscore Lockton’s commitment to strengthening its regional presence whilst remaining attuned to local market needs. With Lee and Sharma at the helm, Lockton aims to deliver enhanced client outcomes across Asia, focusing on specialist expertise and data-driven insights.

Asia-Pacific real estate investment activity has seen a significant resurgence in the first quarter of 2026, with total investment volumes reaching $64.6b. This marks a 13% increase from the previous quarter and a 64.7% rise year-on-year, according to Knight Frank’s latest Asia-Pacific Capital Markets Insights. The uptick indicates a shift from price discovery to active deployment as investor confidence returns.

The office sector led the charge, with investments totalling $23.5b, a 46.7% increase from the previous year. This growth is attributed to a strategic reallocation of capital into prime assets in developed markets. Notable transactions include Mirae Asset’s acquisition of G1 Seoul Buildings A and B in South Korea for $1.05b. Additionally, 18 out of 24 Asia-Pacific cities reported stable or rising rents, highlighting a broader recovery.

Cross-border investment also gained momentum, more than doubling year-on-year to $22.4b. Japan emerged as the top destination for cross-border capital, attracting $6b in investments. Singapore recorded a historic surge, with volumes rising to $5.7b, driven by significant portfolio deals such as Hongkong Land’s spin-off of office assets into a private fund.

Looking ahead, Knight Frank anticipates steady but selective investment activity in Q2 2026. Geopolitical risks, particularly in the Middle East, could impact inflation and financing conditions. However, well-located core assets in safe-haven markets are expected to continue attracting strong interest.