Industry News

A recent analysis by Ember, a global energy think tank, reveals that ASEAN could save up to $67b by replacing its planned gas power expansion with solar energy. The report highlights that the cost of generating electricity from gas-fired power plants could reach $109b annually at projected LNG prices, whereas solar energy could deliver the same electricity for approximately $42b.

The ongoing Gulf crisis, which has disrupted Liquified Natural Gas (LNG) supplies, underscores the vulnerability of ASEAN’s reliance on fossil fuels. The report warns that countries like Singapore, heavily dependent on gas, could see generation costs soar to $260.8 per megawatt-hour, double the levels recorded in February 2026.

Ember’s analysis also points out the broader economic implications, including currency pressure and rising inflation, particularly in countries with high fossil fuel dependence. “Current and past crises have proven that fossil import dependence is risking energy security,” said Dr Dinita Setyawati, Senior Energy Analyst at Ember. The report argues that a pivot to renewable energy is essential to buffer against future energy shocks.

Furthermore, the analysis cautions against reverting to coal as a temporary solution, noting that coal-fired electricity remains more expensive than solar plus storage. Thailand’s increased coal usage could add 3.2 million tonnes of CO2 emissions annually, exacerbating environmental concerns.

The report concludes by advocating for accelerated renewable energy deployment and regional cooperation to enhance energy security and reduce reliance on volatile fossil fuel markets.

Visa’s 2025–2026 Growth Corporates Working Capital Index (WCI) reveals a significant gap between the working capital needs of mid-sized firms in Asia Pacific and the financial tools available to them. Despite rising inflation and liquidity pressures, nearly half of these companies are not using any working capital solutions, even as chief financial officers (CFOs) increasingly seek digital tools to enhance liquidity and drive growth.

The report identifies a misalignment between financial products and operational needs, with 47% of firms not utilising working capital tools due to their incompatibility with operational models. Many firms are calling for simpler digital solutions, with 41% seeking digital tools for credit management and 38% desiring on-demand financing.

Working capital is becoming a strategic growth lever, with firms using these solutions seeing an average $17.7m uplift to their bottom line and a 10% reduction in late-payment losses through digital card payments. The report also notes a shift in demands on banks, with 61% of CFOs using AI for working capital optimisation and prioritising faster, more flexible access to liquidity.

Chavi Jafa, Head of Commercial and Money Movement Solutions, Asia Pacific at Visa, stated, “CFOs across Asia Pacific want flexible, sector-specific tools that match their operational realities.” Visa is partnering to deliver tailored, digital-first commercial solutions to help unlock working capital and accelerate approvals.

As demand for digital finance solutions grows, financial institutions are urged to integrate AI-driven insights and streamline processes to better support the evolving needs of Asia Pacific CFOs.

DFI Retail Group has unveiled its 2025 Sustainability Disclosure, showcasing significant strides in its commitment to sustainability across Asia. The group achieved a 22% reduction in Scope 1 and 2 greenhouse gas emissions from its 2021 baseline, with a target of 50% reduction by 2030. Waste diversion also improved, reaching 66% in 2025, with an 80% target set for 2030.

The group invested $39m in community initiatives, benefiting 125 million people across 12 markets. DFI’s efforts in decarbonising its supply chain included launching 380 tonnes of LowCarbon Rice and sourcing deforestation-free coffee beans for its 7CAFÉ outlets in Hong Kong, Macau, and Singapore. “We remain committed to our purpose of sustainably serving Asia for generations,” said Scott Price, Group Chief Executive.

DFI’s sustainability framework focuses on People, Products, and Planet, with governance as its cornerstone. The group maintained ethical audits of its suppliers and expanded its 7-Eleven Grounds to Green programme, which repurposes used coffee grounds into fertiliser. In 2025, 48% of its Own Brand products carried third-party sustainability certificates, up from 28% in 2024.

The group also made advancements in refrigeration technology, commissioning the first CO₂-based natural refrigerant system in Hong Kong’s food retail sector. Erica Chan, Group Chief Legal, Sustainability, and Corporate Affairs Officer, emphasised the importance of governance and transparency in aligning with global standards.

DFI Retail Group continues to integrate sustainability into its operations, aiming to create long-term value for its customers and the environment.

Southeast Asia’s financial services sector witnessed an increase in deal volume in 2025, with 58 publicly disclosed deals compared to 48 in 2024. However, the total disclosed deal value fell significantly from $4.2b in 2024 to $2.1b in 2025, according to the latest EY financial services M&A analysis.

Globally, the financial services sector saw a 49% year-on-year rise in the total value of mergers and acquisitions (M&A), with 2,236 deals disclosed in 2025, up from 2,219 in 2024. Omar Ali, EY Global Financial Services Leader, noted that despite challenging market conditions, investment appetite remained strong, with transactions exceeding $1 billion rising by more than 70%.

In Southeast Asia, the shift towards smaller acquisitions and minority investments was attributed to high funding costs and valuation gaps, as explained by Sumit Narayanan, EY Asean Financial Services Leader. This trend reflects a cautious approach amid macroeconomic and geopolitical uncertainties, with firms focusing on enhancing capabilities in digital services, payment solutions, and wealth management.

Looking ahead, Southeast Asia remains an attractive region for investment, with Singapore expected to drive increased deal activity in 2026, particularly in the insurance and wealth management sectors. Stuart Last, EY-Parthenon Partner, highlighted the potential for profitable regional platforms in the FinTech sector to move towards initial public offerings (IPOs) in the medium term, supported by interim funding rounds.

Sun Group and Changi Airports International (CAI) have entered into a strategic partnership to develop Phu Quoc International Airport into Vietnam’s first “airport destination”. This collaboration, announced on 21 March 2026, aims to integrate aviation infrastructure with tourism, retail, and entertainment, positioning Phu Quoc as a key aviation and tourism hub in the Asia-Pacific region.

The partnership will see CAI providing advisory services to enhance airport operations, commercial performance, and air connectivity. The airport, which handled approximately 6 million passengers in 2025, is projected to increase its capacity to 24 million passengers annually, with a long-term goal of 50 million. This development is timely as Phu Quoc prepares to host the APEC 2027 Summit, welcoming global leaders and international visitors.

Phu Quoc International Airport’s transformation is part of a government-approved master plan that includes a new runway and Terminal 2. The collaboration between Sun Group and CAI follows extensive exchanges in Vietnam and Singapore, leveraging their combined expertise in destination development and airport management.

Dang Minh Truong, Chairman of Sun Group, highlighted the significance of airports as gateways that shape first impressions. “Through this partnership with Changi Airports International, we aim to develop Phu Quoc International Airport into a true ‘airport destination’,” he stated. Eugene Gan, CEO of CAI, expressed confidence in Sun Group’s vision for Phu Quoc, noting the strong foundation provided by its integrated tourism and entertainment ecosystem.

This partnership is expected to serve as a foundation for future airport developments by Sun Group, including projects in Phan Thiet and master planning for airports in Con Dao and Rach Gia.

International consultancy TBH has released a report titled “Powering Data Centres: Are Integrated Utility Precincts the Answer?”, proposing a shift from traditional standalone data centre models to integrated utility precincts. This change is deemed necessary as regional electricity demand from data centres is expected to quadruple to 10.7 GW by 2035, according to the report.

The report highlights that traditional models, where facilities independently secure power, cooling, and water, are becoming less viable in constrained environments like Singapore. TBH Director and Partner Meiske Sompie emphasised the importance of integrated utility precincts, stating, “In Singapore, every drop of water and every megawatt of power counts. Data centres can either compete for scarce resources or catalyse smarter infrastructure systems.”

The integrated model proposes co-planning renewable generation, battery storage, and water treatment at a precinct level, rather than duplicating infrastructure across individual sites. This approach aims to improve capital efficiency, optimise resource utilisation, and enable large-scale integration of renewable energy.

The report also points to Singapore and Malaysia as early indicators of these constraints. Singapore’s 2019 moratorium led to stricter performance thresholds, whilst Malaysia faces scrutiny over water consumption in Johor. Microsoft’s SG2 facility in Singapore, which uses rainwater harvesting, exemplifies this shift towards more sustainable practices.

TBH’s proposal not only benefits operators but also aligns with government and community planning objectives, supporting stronger Environmental and Social Governance (ESG) outcomes. The integrated approach could serve as a model for sustainable digital growth in Southeast Asia.

Howden, the global insurance intermediary group, has announced a significant expansion of its Mergers & Acquisitions (M&A) insurance solutions in Asia by appointing 12 new team members across Singapore, Greater China, and Japan. This move aligns with Howden’s strategy to establish itself as a global leader in M&A insurance, enhancing its capability to address complex insurance needs.

The new appointments join an existing team of eight, bolstering Howden’s expertise in key M&A insurance lines such as Warranty & Indemnity (W&I), Tax, and Litigation & Contingent Risk insurance. This expansion follows Howden’s acquisition of Atlantic Group in the US and builds on its established presence in Europe.

In Singapore, notable appointments include Xianwei Lee as Head of M&A, Asia, and Adrian Chai as Head of W&I, Asia. In Greater China, Chen Jianhua has been appointed as Director, whilst Shunsuke Takechi takes on the role of Head of M&A in Japan.

Rohan Bhappu, CEO of Howden Asia, highlighted the growing complexity and risk in M&A transactions, stating, “Buyers in the region are actively turning to M&A insurance to de-risk transactions.” Xianwei Lee added, “We are thrilled that this team of talented individuals has chosen to join us to provide clients across Asia, and globally, with the right strategic advice.”

With over 300 M&A practitioners globally, Howden positions itself as one of the largest M&A insurance brokers, aiming to deliver innovative solutions for multinational clients amidst robust market conditions.

Marco Polo Marine’s subsidiary, PKRO, has secured a significant 15-year charter contract with Taiwan’s Marine Port Bureau, valued at NT$2.948b (approximately S$118m). This contract, which involves providing emergency towage and salvage services, marks PKRO’s first long-term government charter in Taiwan and is a pivotal step in the group’s regional expansion strategy.

The contract is expected to deliver long-term, recurring revenue, enhancing the group’s financial stability. It also diversifies Marco Polo Marine’s fleet portfolio beyond its current Crew Transfer Vessel (CTV) and Construction Support Operations Vessel (CSOV) operations. Sean Lee, CEO of Marco Polo Marine, expressed pride in the award, stating, “This award is a strong validation of PKRO’s operational expertise and the Group’s ability to deliver specialised marine services to government clients at the highest standards.”

Lee further emphasised the strategic importance of the contract, noting its role in strengthening Taiwan’s maritime safety infrastructure and supporting the growth of its offshore wind sector. “We look forward to contributing to these objectives whilst delivering stable, long-term returns to our shareholders,” he added.

This contract not only reinforces Marco Polo Marine’s presence in Taiwan but also underscores the confidence of regional clients in the company’s capabilities. As the group continues to expand its operations, this milestone contract is expected to play a crucial role in its future growth and success.

Capital raised for Asia Pacific real estate strategies more than doubled in 2025, signalling renewed investor confidence in the region’s long-term prospects, according to Colliers’ Global Capital Flows report. The report highlights a 109% year-on-year increase in capital raised for Asia Pacific-focused strategies, significantly outpacing the growth in funds allocated to North America and EMEA.

Despite a more measured recovery in investment volumes, Asia Pacific is increasingly being prioritised within global portfolios. Theo Novak, Managing Director of Capital Markets & Investment Services at Colliers, noted, “The scale of capital being raised for deployment into the region shows a clear shift in how global portfolios are being constructed for the next cycle.”

Japan and Australia have both increased their share of global cross-border investment, reinforcing their status as key gateway markets. Meanwhile, the United States remained the largest source of global real estate capital, driven by strong fundraising for data centres and other growth sectors.

Sector preferences are evolving, with office assets leading in Asia Pacific over the past 24 months, supported by demand for high-quality buildings. Retail investment has also strengthened alongside the recovery in tourism and consumer spending.

Colliers anticipates that the surge in capital raised for Asia Pacific will support increased investment activity through 2026, as the region’s economic growth forecasts remain robust. Novak emphasised, “Capital is backing assets and markets that can perform through change, not just in the near term, but over the long run.”

Carsome Group Inc, Southeast Asia’s largest integrated car e-commerce platform, has announced a strategic investment round exceeding $30m. This funding comes from a mix of new and existing investors, including the Hong Kong Investment Corporation Limited (HKIC), Gobi Partners, and Asia Partners. The investment underscores confidence in Carsome’s path to profitability and its long-term vision for the region.

The funds will accelerate Carsome’s growth, focusing on leveraging Hong Kong’s role as a regional gateway for advanced automotive capabilities and technology development. The collaboration aims to enhance Carsome’s initiatives in supply chain sourcing and technology, particularly in data and artificial intelligence (AI), to support its regional expansion.

Eric Cheng, Carsome’s co-founder and CEO, stated, “This strategic collaboration and fundraise is a vote of confidence in our continued momentum and long-term vision.” He emphasised the partnership’s role in providing access to innovation capabilities and cross-border networks.

Clara Chan, CEO of HKIC, expressed support for Carsome, highlighting the company’s alignment with HKIC’s mission to foster scalable innovation. “We look forward to supporting forward-thinking companies like Carsome in creating tangible value for the future of Hong Kong,” Chan said.

Chibo Tang, Managing Partner of Gobi Partners, noted Carsome’s potential to strengthen ties with Greater China, leveraging regional strengths. Gobi Partners has been a long-term supporter of Carsome, recognising its ability to scale across international borders.

Carsome operates across Malaysia, Indonesia, Thailand, and Singapore, aiming to digitise the used car industry in Southeast Asia.