Industry News

Malaysia Airlines and China Southern Airlines have announced an expansion of their codeshare partnership, adding five new routes between Malaysia and China. Effective from 25 October 2026, the collaboration will now include flights connecting Kuala Lumpur with Shenzhen, Changsha, Xiamen, Chengdu, and Zhengzhou. This move aims to provide travellers with increased flexibility and smoother connections across both airlines’ networks.

The expanded partnership underscores the significance of the Malaysia-China market, which both airlines highly value. Malaysia Airlines has recently launched new services to Chengdu, Shenzhen, and Changsha, whilst China Southern Airlines has increased capacity on its Kuala Lumpur-Guangzhou and Shenzhen routes. This expansion means that all Kuala Lumpur-related routes operated by the two airlines in the Malaysia-China market are now under the codeshare arrangement.

Captain Nasaruddin A. Bakar, President and Group CEO of Malaysia Aviation Group, stated, “Malaysia Airlines is pleased to further strengthen its partnership with China Southern Airlines and offer customers more ways to travel between Malaysia and China.” He emphasised the strategic importance of China for Malaysia Airlines and the benefits of enhanced connectivity.

Han Wensheng, President of China Southern Air Holding Company Limited, highlighted the growth potential of the Malaysian market, noting that the partnership will offer passengers more diversified travel options and support the Belt and Road Initiative.

This expanded cooperation is expected to bolster tourism, trade, and business ties between the two countries, providing greater value to customers and enhancing air connectivity in the region.

Global private-equity returns saw a resurgence in the second quarter of 2026, with a notable 5.6% increase, driven largely by venture capital’s impressive 12.7% return. According to MSCI, Asia Pacific (APAC) buyout continued its strong performance, surpassing North America and Europe for the second consecutive quarter, although the gap narrowed.

APAC private equity achieved a 3.4% return in Q2, trailing North America’s 6.4%. However, APAC venture capital, with a 6.7% return, outpaced Europe’s 3.4%. Late-stage venture capital was a significant contributor, with global returns at 15.0%, and APAC closely following North America’s 16.0% with 14.6%.

Despite a global buyout downturn in Q1 2026, which saw a -1.1% return due to software asset markdowns, the sector rebounded to 2.5% in Q2. APAC buyout outperformed with a 2.2% return, compared to North America’s 2.1% and Europe’s 1.5%. The previous quarter had shown a wider gap, with APAC at 1.0% against North America’s -1.0% and Europe’s -1.8%.

Within APAC, developed markets like Japan, Australia, and Korea showed robust performance, with Japan leading private equity returns at 8.2% in Q2 and 26.2% over the past year. APAC infrastructure also excelled, delivering a 12.8% return over twelve months, outpacing North America’s 11.7% and Europe’s 1.9%.

These findings highlight the dynamic nature of private capital markets, with APAC continuing to demonstrate resilience and growth potential.

The Maritime and Port Authority of Singapore (MPA) and the Maritime and Port Authority of Brunei Darussalam (MPABD) have signed a Memorandum of Understanding (MOU) to enhance maritime and port cooperation. The agreement was formalised during the 12th Singapore-Brunei Young Leaders’ Programme, which took place from 28 September to 2 October 2026.

The MOU, signed by Ang Wee Keong, Chief Executive of MPA, and Captain (Ret.) Zil Husam bin Haji Abdul Rahman, Chief Executive of MPABD, aims to strengthen collaboration in areas such as digitalisation, maritime safety, port State control inspection, and incident investigation. This partnership seeks to promote safe, clean, and efficient shipping between the two nations.

Ang Wee Keong remarked, “The signing of this MOU underscores the special friendship and strong partnership between MPA and MPABD, which we have built up over the years.” He emphasised that the agreement would further bolster bilateral maritime cooperation.

Captain Zil Husam bin Haji Abdul Rahman expressed optimism about the opportunities the MOU would create for knowledge exchange and practical cooperation. “We also hope to explore meaningful initiatives that can support further development of both our maritime sectors,” he added.

This agreement is expected to enhance the maritime sectors of both Singapore and Brunei, fostering innovation and ensuring the safety and efficiency of maritime operations. The collaboration highlights the commitment of both nations to advancing their maritime industries through shared expertise and resources.

Markel Insurance has appointed Kevin Leung as Managing Director for Southeast Asia, effective immediately. Leung will oversee operations in Singapore and Malaysia, aiming to drive growth and strengthen the insurer’s regional presence. This move follows Markel’s decision to unify its Singapore and Malaysia operations, creating a cohesive Southeast Asia platform to better support brokers and clients.

Leung transitions from his previous role as Chief Underwriting Officer for Asia Pacific, with recruitment for his successor already underway. He will report to Sucheng Chang, Managing Director of Asia Pacific, and will focus on executing Markel’s strategy, enhancing product offerings, and fortifying relationships with brokers and clients.

Sucheng Chang commented, “Bringing our Singapore and Malaysia teams together strengthens our ability to serve brokers and clients by creating a more connected and coordinated regional platform. It allows us to deploy underwriting expertise more effectively across the region and gives clients and brokers clearer market ownership and more streamlined decision-making.”

Leung, who has 28 years of experience in the insurance industry, expressed enthusiasm for his new role, stating, “I’m excited to lead our newly combined Southeast Asia team. Bringing Singapore and Malaysia together allows us to deploy our underwriting expertise more effectively across the region, giving brokers and clients clearer market ownership and a more consistent experience.”

Jasminder Kaur will continue as Country Head of Malaysia, maintaining responsibility for daily operations and collaboration with local brokers and clients. This strategic appointment is expected to enhance Markel’s service delivery and market presence in Southeast Asia.

Lion Parcel, a prominent logistics service provider from Indonesia, has officially launched its first international office in Subang Jaya, Malaysia. This marks the company’s initial foray into the international market, aiming to strengthen logistics connectivity between Malaysia, Indonesia, and beyond. The strategic choice of Malaysia as the first international market is attributed to its position as a regional hub.

Farian Kirana, CEO of Lion Parcel, highlighted the significance of this expansion, stating, “Malaysia is an important first step in Lion Parcel’s international journey. We see significant opportunities to optimise the Lion Group ecosystem, particularly Batik Air Malaysia’s air connectivity.” This expansion is set to provide Lion Parcel’s business partners with access to a broader international network, supported by Batik Air Malaysia’s Cargo Terminal Operator (CTO) at Kuala Lumpur International Airport (KLIA).

Alvin Williams, Country Head of Lion Parcel Malaysia, noted the strategic importance of Malaysia within the region’s logistics landscape. “Malaysia has an important role to play in the development of regional logistics connectivity,” he said, emphasising the opportunities to connect logistics services with the wider air cargo network.

Lion Parcel Malaysia currently offers delivery services for both business-to-business (B2B) and retail customers, leveraging the Lion Group’s extensive flight network. The company plans to use this network to expand delivery connectivity between Malaysia, Indonesia, and other international markets. As Lion Parcel embarks on this international journey, it continues to explore further opportunities to enhance its connectivity and collaborate with partners across various markets.

DKSH and Grünenthal have announced a new regional partnership agreement aimed at accelerating access to innovative pain management solutions across eight Asia-Pacific markets. This collaboration combines Grünenthal’s expertise in pain management with DKSH Healthcare’s comprehensive commercialisation platform to support the introduction of four new products from Grünenthal’s speciality pain portfolio in Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam.

Grünenthal, a global leader in pain management, is expanding its reach in the Asia-Pacific region through this partnership. DKSH will leverage its integrated capabilities, including regulatory affairs, market access, and distribution, to successfully launch these new therapies. This agreement builds on a previous collaboration that covered three of Grünenthal’s established medicines, reinforcing both companies’ commitment to improving access to pain management solutions.

The partnership is structured around DKSH Healthcare’s regional model, which allows for coordinated execution across multiple markets whilst maintaining a strong local focus. Jan Adams, Chief Commercial Officer of Grünenthal, stated, “Our pain portfolio has delivered meaningful benefits to millions of people living with pain worldwide. Through our partnership with DKSH, we are taking another significant step toward broadening access to proven therapies.”

Patrik Grande, Global Head of Business Unit Healthcare at DKSH, added, “This partnership marks another important milestone in DKSH Healthcare’s new chapter of growth. Leveraging our regional partnership model and integrated end-to-end commercialisation platform, we are well positioned to accelerate growth and improve access to innovative therapies for patients across the region.”

The collaboration is expected to address unmet medical needs and support healthcare professionals in providing better care options for patients suffering from pain.

The Singapore Tourism Board (STB) and Messe Berlin have signed a Memorandum of Understanding (MOU) to bolster Messe Berlin’s presence in Singapore and the Asia Pacific region. This agreement, signed during InnoTrans Berlin 2026, aims to strengthen Singapore’s position as a leading global MICE (Meetings, Incentives, Conferences, and Exhibitions) destination and supports Singapore’s Tourism 2040 target of tripling MICE tourism receipts.

The partnership, which began in 2008 with the launch of ITB Asia in Singapore, has expanded across multiple industries, enhancing international business events in the city-state. Under the new MOU, STB and Messe Berlin will focus on four strategic areas: business development, digitalisation and sustainability, talent and manpower development, and experience development.

Messe Berlin currently organises several key events in Singapore, including ITB Asia, MICE Show Asia, Travel Tech Asia, and Smart Health Asia. ITB Asia 2025 saw a record-breaking performance with over 60,000 business appointments and 18,000 attendees. The portfolio is set to expand further in 2027 with the introduction of InnoTrans Asia, CMS Asia, and Smart Pharma Asia.

Melissa Ow, Chief Executive of STB, remarked, “Messe Berlin has been a valued partner and a testament to what is possible when two organisations share a common vision for excellence.” Dr Mario Tobias, CEO of Messe Berlin, added, “This strategic partnership with the Singapore Tourism Board reflects our long-term confidence in Singapore as a key regional hub.”

The MOU signifies a long-term commitment to enhance Singapore’s status as a global MICE hub, leveraging Messe Berlin’s international portfolio and Singapore’s strengths as a business and innovation centre.

Singapore-founded healthtech company AIGP Health has expanded its Southeast Asian presence by launching its Anzu clinical AI platform in Thailand. This move, in partnership with Borderless Healthcare Group (BHG), marks AIGP Health’s entry into its third market, following successful operations in Singapore and Australia. The Anzu platform is designed to assist clinicians by providing patient information and clinical context throughout consultations, whilst maintaining clinical judgement with healthcare professionals.

The launch in Thailand is part of AIGP Health’s broader regional growth strategy, which includes potential expansions into Malaysia and Indonesia. The company aims to integrate its AI technology into various healthcare settings, such as hospitals, clinics, and wellness centres, to support clinicians in making informed decisions within limited consultation times.

Sheetal Nanwani Doshi, Co-Founder and Chief Growth Officer of AIGP Health, highlighted the platform’s unique selling proposition: “Anzu addresses a complete new category called Clinical Risk… Our USP is our deep clinical workflows built to be able to address these factors therapy wise.”

The Anzu platform, which includes tools like Anzu Dr Assist and Anzu Preclerk, is designed to work alongside existing healthcare technology infrastructures. It has already supported over 3,000 patients across Singapore and Australia. In Thailand, the platform is being deployed at the Global Institute of Aesthetics in Bangkok, serving as a flagship site for its integration into real-world care environments.

As AIGP Health continues its expansion, the company aims to demonstrate how clinical AI can be adapted to diverse healthcare environments, ensuring that doctors and patients remain at the centre of care.

Grab Holdings Limited has announced its proposed acquisition of a 60% majority stake in Atome Financial, a digital financial services platform owned by Advance Intelligence Group Limited. The transaction, valued at $1.49b, includes $260m of primary growth capital. This strategic move is expected to bolster Grab’s financial services ecosystem by integrating Atome Financial’s consumer financing and digital lending capabilities, which include Buy Now, Pay Later (BNPL) loans, consumer cash loans, and digital lending services.

The acquisition will enable Grab to expand responsible financing options across Southeast Asia, particularly benefiting consumers without formal credit histories. The deal is structured in two phases, with Grab planning to acquire the remaining 40% of Atome Financial approximately two years after the initial acquisition, pending regulatory approvals.

Linklaters, a global law firm, is advising Grab on this complex transaction. The multidisciplinary team is led by corporate partner Niranjan Arasaratnam, who highlighted the transaction’s scale and regulatory complexity. “This significant transaction brings together two complementary financial services platforms operating across Southeast Asia,” Arasaratnam stated. “We are pleased to have supported Grab on a transaction that will strengthen its consumer lending capabilities.”

The acquisition underscores Grab’s commitment to enhancing its digital financial services and expanding its reach in the region. With a strong presence in deliveries, mobility, and financial services, Grab continues to solidify its position as a leading superapp in Southeast Asia. The completion of this transaction is anticipated to further integrate financial services within Grab’s platform, offering enhanced consumer lending solutions.

A recent study by Temenos and Celent reveals that banks in the Asia-Pacific (APAC) region are struggling to retain customers as expectations for personalised and AI-enabled banking services increase. The report, titled “The Banking Expectation Gap: Global Consumer Edition,” indicates that nearly three-quarters of APAC banking customers are only moderately satisfied with their primary financial institution, creating a significant “switchable middle” of consumers open to changing banks for better digital services.

The research highlights that 58% of APAC consumers desire more financial guidance, whilst 52% expect their banks to better anticipate their needs. Despite this demand, only 4% of banks globally prioritise investment in personalising customer experiences. Additionally, 68% of consumers worldwide are open to using conversational interfaces for banking queries, although concerns about privacy and data security persist, with 46% of APAC consumers wary of these issues.

In response to these evolving demands, nearly half of the banks globally plan to overhaul their core banking systems by 2027. Michael Bernard, Principal Banking Analyst at Celent, noted, “Customers want banking that feels more personal, more secure and easier to use, whilst still providing human support when it matters.”

Will Moroney, Chief Revenue Officer at Temenos, emphasised the need for banks to adapt, stating, “To win the ‘switchable middle’, banks need to deliver the trust, relevance and convenience customers now demand from every financial interaction.”

The study surveyed 2,515 global banking consumers and included insights from 216 global banking leaders, underscoring the critical need for banks to modernise and personalise their services to maintain customer loyalty.