Industry News

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.

Ant International has announced a significant expansion of its global payment services, now connecting over 150 million merchants with more than 2 billion consumers worldwide. This development was revealed at the MoMents 2026 fintech executive forum in Kuala Lumpur, where CEO Peng Yang outlined the company’s strategy for inclusive growth through innovative financial solutions.

The company now supports over 300 payment methods across 220 markets, including major card schemes, 50 mobile payment partners, and more than 10 national QR systems such as Singapore’s SGQR and Malaysia’s DuitNow. This extensive network facilitates over 20 million daily transactions, enhancing market reach through new partnerships in Asia, Latin America, and the Middle East.

In Vietnam, Ant International collaborates with NAPAS and Vietcombank to introduce cross-border QR payments, whilst in Latin America, a partnership with Mexican fintech R2 aims to expand SME lending. The company also works with the Saudi Central Bank to launch Alipay+ cross-border QR payments in 2026.

Peng Yang emphasised the importance of financial interoperability and AI commerce, stating, “New models give us powerful tools to help global giants as well as mom-and-pop shops to increase resilience and expand revenue streams.” Ant International’s strategy involves leveraging its four main businesses—Alipay+, Antom, Bettr, and WorldFirst—to provide comprehensive growth solutions for businesses of all sizes.

The company’s initiatives include the introduction of the Agentic Mobile Protocol for mobile payments and the AI-as-a-Service platform GenAI Cockpit, which enhances customer experiences with AI. These efforts underscore Ant International’s commitment to driving innovation and supporting global commerce.

Global hospitality giant Hilton has announced the introduction of eight new luxury and lifestyle brands in Asia Pacific this year. This expansion includes the debut of NoMad in Singapore and Signia by Hilton in Tainan, marking the first appearance of these brands in the region. With these additions, Hilton’s presence in Asia Pacific will encompass 16 of its 27 global brands.

The expansion highlights include the debut of Canopy by Hilton in Bangkok Sukhumvit, marking the brand’s entry into South East Asia. Additionally, Hilton will open its first property in Mongolia with the signing of Conrad Ulaanbaatar. In South Asia, Bengaluru will welcome its first Curio Collection by Hilton and LXR Hotels & Resorts properties.

Hilton is also set to introduce luxury brands Waldorf Astoria and Conrad in Malaysia’s Golden Triangle District, and the Tapestry Collection by Hilton will make its debut in Vietnam with NHAAN Resort & Spa Hoi An. These developments are part of Hilton’s strategy to expand its luxury and lifestyle footprint, with over 15 openings planned for 2026.

Alan Watts, president of Asia Pacific at Hilton, stated, “Asia Pacific remains a powerful growth engine for Hilton, and this latest wave of brand entries reflects the strong demand we are seeing from owners for differentiated, high-performing brands.”

With a pipeline of more than 80 luxury and lifestyle hotels in the region, Hilton aims to surpass 250 properties in these categories in the coming years, reinforcing its commitment to shaping the hospitality landscape in Asia Pacific.

The ASEAN Foundation has unveiled ‘Scam Ready ASEAN’, a regional initiative designed to bolster defences against online scams throughout Southeast Asia. Announced at the Google 2026 Online Safety Dialogue in Kuala Lumpur, the programme is backed by US$5m from Google.org and aims to enhance scam prevention awareness and digital safety across the region.

Online scams have surged as a significant threat in Southeast Asia, with the region suffering an estimated US$23.6b in financial losses in 2024 alone. In Singapore, 37,308 scam cases were reported in 2025, resulting in financial losses of approximately US$665.5m (S$913.1m). The programme seeks to address these challenges by equipping 3 million people with the skills to recognise and prevent scams.

Scam Ready ASEAN will collaborate with 20 local organisations across 11 ASEAN Member States, employing a Train-the-Trainer model to educate 550,000 beneficiaries. The initiative will also feature localised awareness campaigns and policy dialogues to foster a unified defence against online fraud.

Dr. Piti Srisangnam, Executive Director of the ASEAN Foundation, emphasised the programme’s proactive approach: “Scam Ready ASEAN is about shifting our approach—from reacting to scams, to preventing them and being better prepared.”

The initiative aligns with the ASEAN Anti-Scam Working Group’s efforts and aims to strengthen regional resilience against online fraud by fostering collaboration among governments, industry, and civil society.

Capgemini Research Institute’s latest report reveals that over 75% of organisations in the Asia-Pacific (APAC) region are advancing beyond pilot stages in physical AI deployment, with Singapore emerging as a leader. The report, titled “Physical AI: Taking human-robot collaboration to the next level,” indicates that Singapore’s mature, risk-aware approach is setting it apart in the region.

The study shows that 79% of organisations globally are engaging with physical AI, with APAC markets like South Korea and Japan leading at 84%. Singapore, however, is distinguished by its real-world deployment, with 21% of organisations already implementing physical AI, surpassing countries like China and South Korea.

Singapore faces fewer challenges in integration and data infrastructure compared to its regional counterparts. Only 28% of Singaporean organisations report integration challenges, significantly lower than Japan’s 64% and the global average of 47%. Similarly, data infrastructure gaps affect just 21% of Singaporean firms, compared to 43% globally.

The focus in Singapore is shifting towards trusted deployment, with cybersecurity and sovereignty concerns taking precedence. The report notes that 67% of Singaporean organisations are wary of cybersecurity risks, aligning with South Korea, and higher than the global average of 53%.

Overall, the findings suggest that whilst APAC is accelerating adoption, Singapore’s robust digital and governance frameworks are facilitating a transition from readiness to trusted large-scale deployment. This positions Singapore as a model for other nations aiming to integrate physical AI into their operations effectively.

Global logistics provider J&T Express has released its 2025 Environmental, Social, and Governance (ESG) Report, highlighting its advancements in sustainable logistics and energy management. By the end of 2025, the company had established 14 logistics parks worldwide, covering 1.05 million square metres, and deployed over 150,000 energy-efficient motorised rollers and 400 conveyor belts.

J&T Express has also expanded its autonomous vehicle fleet to over 1,000, enhancing last-mile delivery efficiency. The company has introduced 38.27 million reusable transit bags, used over 3.33 billion times, to promote green packaging. In Southeast Asia, Singapore’s fleet now includes 6% electric lorries, whilst the Philippines has achieved 100% adoption of B5 biodiesel, reducing fossil fuel dependency.

The report underscores J&T Express’s commitment to employee welfare, with initiatives like the 2025 Platform Algorithm and Labour Rules Agreement in China, benefiting over 290,000 workers. The company has increased its digital training offerings by 60% year-over-year, with training hours up 2.8 times.

J&T Express’s social responsibility efforts include using drones for agricultural logistics in China and providing disaster relief in Hong Kong and Indonesia. The company has also strengthened its global compliance framework, focusing on anti-corruption and fair competition.

Chief Financial Officer Dylan Tey stated, “ESG has evolved from a concept into concrete operational capabilities. We have proactively explored green transportation transformation and governance of new employment forms.” Looking forward, J&T Express aims to enhance its ESG governance and information disclosure to create long-term value for stakeholders.

A recent survey by Salesforce, the leading AI customer relationship management company, highlights that personal use of artificial intelligence (AI) tools is significantly boosting workplace confidence among knowledge workers in the ASEAN region. Conducted by YouGov, the survey involved 4,062 participants from countries including Singapore, Indonesia, Thailand, and the Philippines. It found that 66% of these workers feel more confident using AI professionally due to their personal experiences with the technology.

The survey underscores a generational trend, with Gen Z showing the highest confidence levels—72% report high confidence in using AI at work. However, a skills gap is emerging, as only 32% of workers have received training on AI agents, posing a risk to enterprise value. Paul Carvouni, Senior Vice President and General Manager at Salesforce ASEAN, noted, “For businesses, this is a clear signal to move: our workforce is ready, but it is up to organisations to provide the secure, enterprise-grade frameworks and skills support.”

Despite the enthusiasm for AI, only 26% of companies are investing in peer-to-peer AI knowledge sharing, and just 23% encourage leaders to model AI usage. The survey also reveals that 43% of workers seek transparency and control over AI actions, whilst 42% desire easy access to high-quality tools.

As AI becomes integral to the workplace, the survey suggests that organisations must prioritise AI fluency to harness its full potential, transforming personal use into a coordinated growth engine.

HSBC has announced the appointment of Desmond Kuang as Chief Investment Officer (CIO) for Asia, effective 6 July 2026. In his new role, Kuang will oversee the development of regional investment strategies across all asset classes for HSBC Private Bank and Premier Wealth clients, excluding Hong Kong. He will also continue to serve on the bank’s Global Investment Committee, which formulates asset allocation strategies.

Kuang brings two decades of experience in the banking sector, having held various leadership roles in asset management and investment research. He is currently the CIO for China and Interim Head of Wealth and Premier Solutions in China, positions he will maintain until successors are named.

Willem Sels, Global CIO of HSBC Private Bank and Premier Wealth, expressed enthusiasm about Kuang’s appointment, stating, “We are delighted to welcome Desmond as Chief Investment Officer, Asia. As wealth continues to grow rapidly in Asia, clients and investors are seeking timely and actionable investment insights to pursue their wealth goals. Desmond brings deep experience and rigour that will further strengthen our insights-led investment culture, an approach our clients have come to trust.”

Based in Singapore, Kuang will report to both Willem Sels and Ishan Sarkar, Head of Wealth and Premier Solutions, Singapore. This strategic appointment underscores HSBC’s commitment to enhancing its investment capabilities in the rapidly expanding Asian market.

Samsung Electronics has announced a strategic partnership with AnyMind Group to enhance its live commerce capabilities using AnyMind’s AI platform, AnyLive. This collaboration will see Samsung deploying AI-powered live commerce across eight markets, including Australia, Indonesia, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. The initiative aims to introduce an additional 4,450 livestream hours per month, focusing on consumer electronics and mobile experience products.

The partnership allows Samsung to utilise AI avatars for livestreams on platforms such as Shopee, Lazada, and its own brand.com channels. In Australia and New Zealand, AI avatars will be deployed specifically on Samsung’s brand.com channel. These avatars can respond to real-time viewer questions in native languages and local accents, ensuring personalised interactions for shoppers in different regions.

Chang Soo Park, Regional Head of Online Business at Samsung Electronics Southeast Asia and Oceania, highlighted the shift towards an “Always-On” engagement model, stating, “We’re now in a pivotal moment in how we connect with our customers, moving beyond the limitations of traditional broadcast schedules.”

Akinori Kubo, Managing Director of Global E-Commerce at AnyMind Group, noted the evolution of the live commerce industry into a “Hybrid Retail” era. He emphasised that AnyLive enables enterprises to maintain round-the-clock, multilingual live commerce activities, allowing human creators to focus on high-impact engagements.

This collaboration underscores the growing role of AI in retail, offering scalable solutions without the need for additional production teams. AnyMind Group has been expanding its social commerce capabilities, acquiring several companies to bolster its offerings in recent months.