Industry News

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.

JCB International Co Ltd, the international operations subsidiary of Japan’s only international payment brand, has announced a collaboration with Resorts World Sentosa (RWS) in Singapore. This partnership aims to enhance the travel experience for Japanese tourists visiting the island nation. The collaboration introduces exclusive privileges for Japan-issued JCB cardmembers, including up to 20% savings on selected attractions and accommodation, as well as dining and retail benefits at participating outlets within RWS.

Resorts World Sentosa, located on Singapore’s premier resort island, is a leading integrated lifestyle destination, attracting millions of visitors annually. The collaboration with JCB is designed to offer Japanese guests curated experiences that enhance every stage of their visit, from iconic attractions to hotel stays.

Hiroko Michishita, Managing Director of JCB International Asia Pacific, highlighted the significance of the collaboration, stating, “Our launch of this programme comes at an opportune time amid a steady rise in Japanese tourist arrivals to Singapore.” Jenny Wang, Acting Senior Vice President of Resort Sales and Marketing at RWS, added, “We are pleased to partner with JCB to deepen our engagement with Japanese travellers and strengthen RWS’s presence in the Japan market.”

This initiative is part of a broader strategy to attract more Japanese tourists to Singapore, offering them compelling reasons to visit and extend their stay. The collaboration reflects a long-term commitment to building sustained relevance in Japan, positioning Resorts World Sentosa as Asia’s leading lifestyle destination.

Frasers Property Limited has released its business updates for the first quarter ending 31 December 2025, highlighting significant achievements in residential and industrial sectors. The Group reported $1.4b in pre-sold residential revenues across Singapore, Australia, Thailand, and China. In Singapore alone, unrecognised revenue reached $0.5b, with the Robertson Opus project 56% sold. In China, sales at Fang Song, Shanghai, contributed to a $0.5b unrecognised revenue, with nearly 70% of Phase 1 units sold since December.

The Group also delivered 9,443 square metres of industrial and logistics space in Q1 FY26 and maintains a robust development pipeline of approximately 862,000 square metres across Australia, Europe, Vietnam, and Thailand. Vietnam, in particular, is experiencing strong market demand, supporting planned completions of 452,000 square metres in FY26 and FY27.

Frasers Property’s retail and commercial sectors continue to perform well, with occupancy rates above 94% in Singapore, Australia, and Thailand. The hospitality portfolio also saw improvements, with RevPAR increasing across key markets in Thailand, Asia Pacific, and EMEA.

In terms of capital management, the Group divested Chineham Park in the UK and reported a net gearing of 89% at the end of Q1 FY26. With $2.2b in cash and bank balances, Frasers Property is well-positioned to manage debt expiring in FY2026. The Group remains committed to its strategic pillars to deliver sustainable value amidst an evolving business environment.

Zuellig Pharma, a prominent healthcare solutions company in Asia, has announced the acquisition of the Zam-Buk and Vapex consumer healthcare brands from Bayer Consumer Care AG. This strategic move, effective from 9 February 2026, covers the markets of Thailand, Singapore, Indonesia, Malaysia, and Brunei. The acquisition aims to bolster Zuellig Pharma’s consumer healthcare portfolio across Asia.

Zam-Buk, an ointment first launched in 1902, is renowned for providing temporary relief from pain and itch, including insect bites. Vapex, a nasal inhaler introduced in 1917, is well-known for alleviating nasal congestion, particularly in Thailand. Both brands have maintained strong brand equity and consumer trust over the years.

This acquisition aligns with Zuellig Pharma’s strategic priority to scale its consumer healthcare offerings in the region. It follows the company’s previous acquisition of Propan in the Philippines, further solidifying its commitment to building a robust platform for everyday healthcare products. John Graham, CEO of Zuellig Pharma, stated, “Zam-Buk and Vapex are enduring brands with deep heritage and trust in the communities they serve. By combining the brands’ legacy with Zuellig Pharma’s regional commercial capabilities and local market expertise, we aim to expand distribution and access across all relevant retail channels in the region.”

Zuellig Pharma, founded a century ago, has grown into a multibillion-dollar enterprise, serving over 200,000 medical facilities across 18 markets with more than 12,000 employees. The acquisition of Zam-Buk and Vapex is expected to enhance the company’s reach and accessibility in the consumer healthcare sector.

The 2025 Global CEO Turnover Index by Russell Reynolds Associates reveals a record-high CEO turnover globally, with the Asia Pacific (APAC) region experiencing its highest number of departures in seven years. In 2025, 234 CEOs exited their roles worldwide, marking a 16% increase from 2024. APAC alone saw 87 departures, a 26% rise from the previous year.

The report highlights a significant trend in APAC, where 94% of new CEO hires were first-time leaders, and 73% of appointments were internal promotions. This indicates a strategic shift towards leveraging internal talent and fresh perspectives to navigate complex market conditions. Euan Kenworthy, Country Lead for Singapore at Russell Reynolds Associates, noted, “The role of the CEO has become materially harder, burdened by increased media scrutiny, a more demanding investor base, faster technology adoption, and regulatory challenges.”

CEO tenures have also shortened, with the global average declining to 7.1 years from 7.4 years in 2024. In APAC, the average tenure is now 5.9 years, with Singapore’s outgoing CEOs showing a slightly longer tenure of 7.3 years. This trend reflects increased board scrutiny and a proactive approach to leadership changes.

For the first time, planned CEO successions (32%) surpassed retirements (26%) as the primary reason for departures. Kenworthy emphasised the importance of robust succession planning, stating, “Getting CEO succession right has never been more important, or more complex.” As organisations face heightened expectations and market volatility, the focus is on building a strong leadership pipeline to ensure continuity and adaptability.

Professor Dou Dejing, Chief Scientist at Beijing Electronic Digital Intelligence (BEDI), recently presented China’s AI industry practices at the China-ASEAN AI High-Level Seminar in Kuala Lumpur. The event, co-organised by several engineering and academic institutions, gathered nearly 150 representatives to discuss AI technologies and regional cooperation.

During his keynote, Professor Dou highlighted BEDI’s strategy of using full-stack AI capabilities to drive industrial upgrades. He detailed BEDI’s framework, which includes one AI foundation and two industry platforms, tailored to specific cities and industries. This approach has been applied in various sectors, including healthcare and manufacturing, offering ASEAN participants a reference for industry transformation.

BEDI’s initiatives include the Beijing Digital Economy Computing Power Centre, which supports innovation in Chaoyang District’s audiovisual industry, and a partnership with the China-Japan Friendship Hospital to enhance service efficiency. In Foshan, BEDI’s AI-enabled manufacturing base uses intelligent computing to reduce costs and improve efficiency, with projections of generating significant revenue growth.

Professor Dou emphasised BEDI’s commitment to ethical AI and open collaboration, aiming to build a China-ASEAN AI ecosystem through technology transfer and joint research and development. This model, he noted, provides a practical path for AI-powered transformation in Southeast Asia, supporting regional digital transformation and fostering new cooperation landscapes.

Grab Finance, the financial services division of Southeast Asia’s leading superapp, has significantly enhanced credit access in the region by implementing over 22 decision workflows across six countries. This initiative, powered by the FICO Platform, has increased credit offer eligibility rates by nearly 50%, benefiting more than 46 million consumers, as well as millions of merchants and drivers within the Grab ecosystem.

The FICO Platform utilises behavioural and transactional data, such as ride frequency and merchant revenues, to provide automated, pre-approved credit offers. This approach helps expand credit access for users lacking traditional credit histories by offering a comprehensive view of creditworthiness whilst managing risk effectively.

Andre Tan, Regional Head of Lending Risk Platforms at Grab Finance, stated, “Grab saw a strategic opportunity to make financing in Southeast Asia more accessible by leveraging our superapp ecosystem and behavioural data.” This strategy enables Grab to deliver real-time credit offers, expanding financial inclusion for underserved users.

Southeast Asia, home to over 700 million people, faces challenges with a large underbanked population. Grab Finance’s initiative addresses data scarcity issues by using in-app behavioural signals to develop alternative risk models. The project, completed in under eight months, involved 22 decision workflows across Grab’s customer portfolios, including driver-partners, passengers, and merchant-partners.

Grab, Southeast Asia’s leading superapp, has announced a strategic partnership with Hesai Technology, a global leader in lidar solutions, to become the exclusive distributor of Hesai’s lidar products in Southeast Asia. This collaboration aims to increase the availability of high-quality lidar sensors across various industries, including robotics and autonomous systems.

The partnership will leverage Grab’s extensive resources and distribution networks to ensure that customers in Southeast Asia can access lidar technology more efficiently. Anthony Tan, Group CEO and Co-founder of Grab, stated, “By expanding access to world-class lidar technology in Southeast Asia, Grab is doing more than improving our own autonomous mobility and mapping capabilities; we are providing the essential ‘eyes’ that allow robotics to ‘see’ and navigate safely.”

David Li, CEO and Co-founder of Hesai, highlighted the importance of the partnership, noting, “Lidar is a core technology that enables robots to achieve autonomous perception and safer operations. The Southeast Asian market has shown strong demand across manufacturing, logistics, and service robots.”

Lidar, which stands for Light Detection and Ranging, is a remote sensing technology that uses light to measure distance and map environments with high precision. This technology is crucial for applications in autonomous vehicles, topography, and robotics.

The collaboration between Grab and Hesai is expected to accelerate the deployment of lidar technology in Southeast Asia, addressing the region’s growing demand for AI-powered automation. Both companies plan to continue strengthening their cooperation to advance the adoption of advanced lidar technology across the region.

Kairos Risk Solutions has launched its Weather Data Platform, a cutting-edge analytics tool aimed at empowering insurance brokers with precise, data-driven weather forecasts. This platform, unveiled on 4 February 2026, integrates Artificial Intelligence with traditional meteorological methods to extend weather projections up to a year, addressing the limitations of traditional short-term forecasts.

The platform analyses 77 environmental variables, including rainfall, wind speed, and solar irradiation, to generate probabilistic forecasts and adaptive trigger recommendations. This innovation is designed to help brokers more effectively identify and quantify weather-related exposures, aligning with the industry’s focus on data transparency and predictive analytics.

Jeffrey Khoo, CEO of Kairos Risk Solutions, highlighted the platform’s significance: “For brokers, timely and credible insights into weather risk are vital to designing appropriate parametric solutions. Our new platform places these insights directly in their hands, transforming how they analyse and respond to climate volatility.”

Casmond Lim, Chief Operating Officer and project lead, noted the platform’s ongoing development: “We’re refining the model to enhance spatial accuracy and scenario testing, ensuring brokers can make more informed recommendations for resilience planning and risk transfer.”

The platform is available to Kairos’ partner network and licensed brokers, aiming to bolster their climate risk advisory capabilities. Kairos Risk Solutions, with offices in Singapore, Shanghai, and Tokyo, specialises in parametric, trade credit, and cyber risk solutions, among others.