Industry News

Sumitomo Mitsui Banking Corporation (SMBC) has appointed Salim Zaman as the Global Head of Foreign Exchange (FX), a role he will undertake from Singapore. Zaman will spearhead the bank’s global FX business whilst maintaining his position as Co-Head of Global Markets and Treasury in Asia Pacific.

In his new capacity, Zaman is tasked with overseeing SMBC’s global FX strategy, aiming to bolster the bank’s comprehensive and integrated FX solutions for clients worldwide. His leadership is expected to enhance SMBC’s global trading capabilities and solidify its reputation as a reliable partner for corporate and institutional clients.

Zaman will collaborate with regional leadership teams to manage resources for the global FX business. This includes focusing on the sourcing, development, and retention of talent to support the long-term growth of SMBC’s FX platform.

This strategic appointment underscores SMBC’s commitment to expanding its global markets capabilities and offering a wider range of FX solutions to its international clientele.

AirAsia X (AAX) Berhad has announced a pivotal step in its global expansion strategy by designating Bahrain as a key strategic hub. This move is set to bolster the airline’s medium-haul connectivity across Asia, the Middle East, Europe, and Australia, marking a significant milestone in its international growth journey.

The decision to establish Bahrain as a strategic hub underscores AirAsia X’s commitment to expanding its network beyond Asia. By leveraging Bahrain’s geographical position, the airline aims to enhance its connectivity and offer more travel options to its passengers.

“Now, we are rebuilding with discipline – backed by a secured orderbook of 374 aircraft and counting, as well as a comprehensive five-year growth plan that will see us steadily cementing our footprint across the regions. Bahrain fits squarely into our long-term network blueprint to link ASEAN and Asia to the world,” Bo Lingam, Group CEO of AirAsia X, said.

This strategic expansion is expected to facilitate better access and connectivity between major regions, thereby strengthening AirAsia X’s presence in the global aviation market.

Influencer marketing in the Asia-Pacific (APAC) region is undergoing a significant transformation, as revealed by AnyMind Group’s new report, “The State of Influence in Asia 2026”. The report highlights a notable shift from awareness-led campaigns to performance-driven strategies, with such campaigns increasing from 28% in 2023 to 42% in 2025. This change reflects brands’ growing emphasis on measurable outcomes beyond mere reach.

The report, based on data from AnyMind’s influencer marketing platform AnyTag, analysed nearly 7,000 campaigns across 10 APAC markets, including Singapore, Malaysia, and Japan. It provides insights into regional platforms, demographics, and category trends, offering a comprehensive view of the evolving influencer landscape.

Key findings indicate that whilst Instagram’s dominance is waning, platforms like TikTok and Xiaohongshu are gaining traction, particularly in Southeast Asia. The report also notes a rise in the use of Nano- and micro-influencers, who are valued for their high engagement rates and authenticity.

Brands are increasingly investing in lifestyle verticals such as Fashion & Beauty and Food & Drink, focusing on authentic storytelling that resonates with consumers’ daily habits. The report suggests that to succeed in 2026, brands must adopt a locally informed strategy, leveraging trusted creator networks and integrating influencers into the commerce journey.

As the influencer ecosystem continues to mature, AnyMind’s report provides actionable recommendations for brands aiming to maximise their impact in this dynamic landscape.

Klook’s latest Travel Pulse study highlights that Millennials and Gen Z are prioritising travel in 2026, with 88% intending to maintain or increase their travel budgets. This trend persists despite global economic challenges, with Asia Pacific (APAC) travellers showing a 50% higher intention to boost spending compared to their counterparts in Europe and the US.

The study reveals a shift in consumer priorities, with travellers opting for experiences over material goods. This trend is particularly pronounced in APAC, where individuals are cutting back on physical purchases to focus on activities and creating memories. Additionally, the study notes a growing interest in multi-destination trips and secondary cities, with places like Hiroshima in Japan and Cairns in Australia gaining popularity.

Social media remains a key tool for travel discovery and planning, complemented by the practicality of artificial intelligence. However, the study emphasises that trust is crucial, with reviews and recommendations playing a significant role in converting interest into action.

Klook’s findings underscore the resilience of the travel sector, particularly in APAC, as it continues to drive global growth. The study suggests that the region’s travellers are leading the way in adapting to new travel trends and preferences, setting the stage for a dynamic year in travel.

Zenyum and MakeO Toothsi, two leading consumer dental companies in Asia and India, have announced a strategic merger set to complete by the end of February, pending customary approvals. This union aims to establish Asia’s foremost consumer dental company, enhancing access to high-quality, affordable dental care across the region.

The merger will leverage economies of scale, technology, and support to locally licenced dentists and consumers across nine countries, from the Middle East to Japan. The combined entity will offer orthodontic solutions, including clear aligners and digital dental solutions, accessible through a seamless digital and physical customer experience.

Julian Artopé, CEO of Zenyum, stated, “This merger marks a pivotal moment in the Asian dental industry. By combining our strengths, we are creating a regional powerhouse that will redefine how millions of consumers access and experience dental care.”

Dr. Arpi Mehta, CEO of MakeO, expressed enthusiasm for the partnership, highlighting its potential to accelerate the mission of bringing advanced dental solutions to households across India, the Middle East, and beyond. The merger is poised to drive significant innovation and deliver unparalleled value to customers.

Coca-Cola is set to refresh the Lunar New Year and Tết celebrations in 2026 by engaging Gen Z across Vietnam, Singapore, and Malaysia. The initiative aims to preserve traditional festivities whilst allowing the younger generation to infuse their creativity, ensuring the celebrations remain relevant and personal. This year’s campaign encourages Gen Z to honour the festival’s meaning whilst expressing it in innovative ways alongside their families.

The campaign, developed with local teams, allows each country to highlight its cultural stories and rituals, unified by the theme of co-creation and togetherness. Tin Le Trung, Coca-Cola Trademark Category Lead in ASEAN and South Pacific, stated, “Our ambition with Lunar New Year Tết was to help keep our beautiful traditions alive by inviting younger generations to take part in shaping them.”

A key feature of the campaign is its festive visual identity, inspired by Asian craftsmanship, created in collaboration with Elmwood. This identity is reflected in packaging, retail displays, and digital platforms, allowing each market to express its cultural character whilst maintaining a shared festive foundation.

In Vietnam, the campaign theme “Weave a New Tet” encourages Gen Z to create new traditions with their families. In Singapore and Malaysia, the focus is on music, with a cross-border Lunar New Year anthem encouraging participation across generations.

The campaign integrates social storytelling, live experiences, and festive packaging, ensuring that celebrations connect with everyday moments. By involving Gen Z in preserving traditions, Coca-Cola demonstrates how brands can maintain cultural celebrations’ relevance by celebrating them with those who will carry them forward.

Visa has unveiled findings from its State of Digital Commerce in Asia Pacific study, highlighting that whilst 74% of consumers in the region use AI for shopping, concerns about security and transparency remain significant barriers at checkout. Conducted by YouGov, the survey involved 14,764 consumers across 14 markets, revealing that trust and secure authentication are crucial for AI-powered commerce to scale effectively.

The study indicates that affluent and digitally savvy consumers exhibit higher caution towards AI-enabled shopping, with 39% of affluent households expressing concerns about data usage compared to 29% of lower-income groups. This caution is also evident in digital-first markets such as Australia, New Zealand, and Singapore, where consumers demand greater transparency and control over AI recommendations.

AI is primarily used for product discovery, but trust issues arise when transactions become personal. Nearly half of the respondents (45%) indicated they would be more open to AI-driven commerce if payment security assurances were stronger. T.R. Ramachandran, Head of Products & Solutions, Asia Pacific at Visa, stated, “Consumers want to understand how their data is being used and feel confident that every transaction is secure.”

Emerging markets like India and Vietnam show a higher openness to AI-driven commerce, with 42% of consumers in each market willing to use AI for online purchases. In contrast, digitally mature economies such as Singapore, Japan, and New Zealand display greater reservation, highlighting the need for improved payment security to foster adoption.

Visa’s study underscores the importance of building trusted frameworks in AI-driven commerce, with solutions like Tokenisation and Visa Payment Passkeys aiming to provide seamless and secure shopping experiences. As AI becomes more integrated into everyday commerce, ensuring consumer trust and secure authentication will be pivotal for its widespread adoption.

AIA Group Limited has unveiled new research highlighting how entrenched stereotypes around physical, mental, and financial health are impacting wellbeing across Asia. Conducted in Mainland China, Hong Kong SAR, Singapore, Thailand, and Malaysia, the study analysed over 100 million social media posts and surveyed 2,100 individuals to understand how these stereotypes are formed and perpetuated.

The findings reveal that rigid expectations regarding fitness, mental health, wealth, and family responsibilities exert significant pressure on individuals. Key insights include 69% of respondents believing that fitness requires strict discipline, 59% thinking health improvement demands a complete transformation, and 57% feeling that respect is contingent on emotional control and avoiding vulnerability. Additionally, 63% hold negative views on financial health stereotypes, with 41% linking personal worth to financial success, particularly among men.

Stuart A. Spencer, AIA Group Chief Marketing Officer, stated, “The data is unequivocal. Asia’s health challenge is no longer just medical, it is also behavioural and cultural.” He emphasised that deeply rooted stereotypes are undermining prevention efforts and delaying support, leading to poorer health outcomes.

In response, AIA has launched the next phase of its Rethink Healthy initiative, featuring films that address these hidden pressures. The initiative aims to inspire behavioural change and promote more inclusive health narratives. AIA’s long-term commitment is to engage one billion people by 2030, encouraging healthier, longer, and better lives across Asia.

AsiaPhos Limited has entered into a strategic partnership with China Mobile International to explore opportunities in artificial intelligence (AI) computing services and data centres across Southeast Asia. The collaboration, formalised through a Letter of Intent signed on 9 February 2026, seeks to leverage the strengths of both companies in Indonesia, Malaysia, and Singapore.

The partnership is designed to identify synergies between AsiaPhos and China Mobile International, one of the world’s largest telecommunications companies, to create joint or allied efforts in the region. Under the agreement, China Mobile will introduce potential customers to AsiaPhos for projects related to data centres and AI computing services. In return, AsiaPhos will prioritise China Mobile for data centre fit-out works and related services if these introductions lead to new business.

AsiaPhos CEO Ong Eng Keong expressed optimism about the partnership, stating, “AsiaPhos is honoured to have the opportunity to work with China Mobile International to explore opportunities in the data centres and artificial intelligence computing services in Southeast Asia.” He noted the exponential growth in Artificial Intelligence Data Centres globally, citing a report by S&P Global that highlighted a record US$61b investment in data centres worldwide in 2025.

The partnership is not expected to affect AsiaPhos’s proposed acquisition of Exquisite Mode Sdn Bhd. However, shareholders and potential investors are advised to exercise caution, as the agreement is non-binding and can be terminated by either party. The collaboration marks a significant step for AsiaPhos as it continues to seek opportunities to enhance shareholder value.

XPENG, a leader in intelligent electric vehicles (EV), has teamed up with Ant International’s Antom to introduce a streamlined payment solution for EV charging. Launched on 9 February in Hong Kong, this collaboration marks XPENG as the first Chinese new-generation EV maker to establish a global payment partnership with Antom. The initiative aims to simplify the charging process for users by integrating payment options directly into the XPENG APP.

The partnership allows XPENG users in Hong Kong to initiate and complete charging payments using AlipayHK, with credit card options to follow. This service is part of a broader strategy to expand into Southeast Asia and other global markets by 2026. Antom’s solution integrates over 300 payment methods across more than 200 markets, supporting payments in over 100 currencies, thus addressing the challenges of fragmented payment channels.

Gary Liu, General Manager of Antom, highlighted the strategic importance of this collaboration, stating, “Payment becomes a strategic capability for automakers’ charging platforms to deliver better user service, improve efficiency and achieve sustainable growth.”

XPENG’s global expansion is evident, with overseas deliveries reaching 45,008 units in 2025, a 96% increase from the previous year. The company’s charging network now spans 31 countries, connecting over 2.66 million charging piles. Lawrence Li, General Manager of XPENG Overseas Charging, noted that the collaboration with Antom extends beyond payments, aiming to foster broader cross-industry partnerships.

In 2026, the partnership will expand to Singapore, Thailand, Malaysia, Indonesia and additional global markets. Antom will help XPENG enable DANA (Indonesia), Touch ‘n Go eWallet (Malaysia), TrueMoney (Thailand), and other regional payment methods.