Industry News

DBS and Samsung Securities have signed a Memorandum of Understanding (MOU) to form a strategic partnership in wealth management, aiming to broaden client access between Korea’s capital markets and DBS’s global wealth platform. This collaboration, announced on 2 July 2026, seeks to leverage the strengths of both institutions to offer more diverse investment opportunities to clients in Asia.

The partnership is set to explore four key areas: enabling DBS clients to invest in solutions offered by Samsung Securities, providing Samsung Securities clients with access to DBS’s multi-asset global wealth solutions, enhancing client connectivity through advisory services, and sharing knowledge and capabilities in areas such as artificial intelligence and thought leadership in wealth management.

Park Jong-moon, President and CEO of Samsung Securities, highlighted the significance of the partnership, stating, “This partnership marks an important milestone in connecting Korean investors to global markets and bringing global opportunities to our clients.” Tan Su Shan, CEO of DBS, echoed this sentiment, noting that the collaboration would offer clients investment opportunities of a calibre few can match across Asia and beyond.

As Asia continues to establish itself as a global wealth management hub, this partnership between DBS and Samsung Securities is poised to provide clients with enhanced access to diverse markets and investment solutions. The strategic partnership agreement, which will follow the MOU, is expected to further solidify this collaboration, potentially expanding into other areas of financial services in the future.

Thales has announced its collaboration with Visa as the first partner in the Asia Pacific region under the Visa Digitalisation Ready Programme (VDRP). This partnership aims to expedite the adoption of Visa’s advanced digital payment solutions among financial institutions across the region. By leveraging Thales’ Digital Issuance (D1) platform, issuers can deploy Visa’s Click to Pay and Payment Passkeys services, enhancing customer experiences with faster and more secure payment options.

The collaboration is set to streamline the integration of Visa’s digital services, allowing issuers to reduce implementation complexity and accelerate deployment. This initiative is crucial as financial institutions in Asia Pacific face increasing demand for seamless and secure payment experiences amidst digital transformation and evolving cyber threats.

Thales’ D1 platform, recognised for its expertise in digital issuance and tokenisation, will play a pivotal role in this collaboration. It enables issuers to quickly activate Visa’s digital payment capabilities whilst maintaining high levels of security and performance. This ensures that financial institutions can offer frictionless checkout experiences without compromising trust.

Nassir Ghrous, Vice President of Banking & Payment Services for Asia, Middle East & Africa at Thales, stated, “As digital payments continue to evolve, issuers need a trusted technology partner that can combine innovation, security and speed to market. Through our collaboration with Visa, we are enabling payment providers across Asia Pacific to deliver next-generation payment experiences that combine the highest levels of security with the seamless convenience consumers expect.”

This partnership underscores a shared commitment by Visa and Thales to support issuers in their digital transformation journey, ultimately benefiting consumers with enhanced convenience and security in digital payments.

Tracxn, a global market intelligence platform, has unveiled a list of the 25 largest technology mergers and acquisitions (M&A) in Southeast Asia, with a combined value exceeding $15.2b. The acquisitions, spanning from January 2020 to June 2026, include companies in Singapore, Indonesia, Malaysia, Thailand, and Myanmar, showcasing the region’s burgeoning tech ecosystem.

The list is led by the acquisition of ST Telemedia Global Data Centres by KKR and Singtel for $5.2b, followed by Sumitomo Life’s purchase of Singlife for $3.4b. These deals highlight significant interest in sectors such as data centres, digital insurance, e-commerce, and cryptocurrencies.

The acquisitions reflect a broad range of strategic and private equity interest, with buyers from Japan, Taiwan, the US, Europe, China, and India. The report underscores the cross-border nature of these transactions, emphasising the sustained foreign appetite for Southeast Asian tech assets.

Tracxn’s list includes 16 companies from Singapore, four from Malaysia, three from Indonesia, and one each from Thailand and Myanmar. The diversity of sectors involved, from enterprise technology to payments and data centre infrastructure, illustrates the dynamic nature of the region’s tech industry.

Tracxn Technologies Ltd. continues to be a leading provider of private company data, tracking over 8 million entities globally. The company’s insights into the Southeast Asian market provide valuable information for investors and businesses looking to engage with the region’s tech landscape.

Masa Singapore 2026, a multidisciplinary cultural movement, is set to highlight Indonesia’s contemporary creative scene from 2 July to 10 August 2026 at Takashimaya Square and Gardens by the Bay. The event, themed “A Sight into the Golden Indonesia Era,” aims to present Indonesia as a dynamic culture, evolving through creativity, craftsmanship, and the spirit of gotong royong.

The event will feature over 80 Indonesian brands and creators, making it one of the largest showcases of Indonesian contemporary culture in Singapore. At Takashimaya Square, visitors can explore a tradeshow that highlights the new generation of Indonesian creativity across fashion, design, art, music, hospitality, and culinary experiences. Meanwhile, Gardens by the Bay will host the Indonesia-Singapore Orchid Extravaganza, an immersive experience exploring Indonesian heritage through nature and traditional architecture.

Heliandi Fajar Saputra from the Masa team stated, “Masa is a reflection of Indonesia today. We want to present Indonesia not merely as a destination or a collection of cultural symbols but as a living ecosystem of creators, thinkers, makers, and communities shaping the future together.”

The event will also include cultural programmes such as Masa Sound, featuring musicians like Lullaboy and Marbles, and exhibitions by leading Indonesian artists. Supported by partners like Astra and BCA, Masa Singapore 2026 aims to strengthen cultural ties between Indonesia and Singapore, showcasing the potential of Indonesia’s creative economy on a global stage.

M&G Investments has announced the appointment of Ruth Poh as Head of Compliance for Asia Pacific, effective immediately. Based in Singapore, Poh will report to Tim Page, Chief Compliance Officer for M&G Investments. Her role will involve overseeing regulatory and compliance risks, as well as providing advisory oversight to support the firm’s expanding investment and client activities in the region.

With over two decades of experience in compliance and operational risk, Poh previously served as Head of Compliance & Operational Risk Control at UBS Asset Management. She also chairs the Regulatory Committee at the Investment Management Association of Singapore. Her extensive background is expected to bolster M&G’s compliance leadership as the company continues its international growth, with a significant focus on Asia Pacific.

Tim Page commented, “Ruth’s appointment strengthens our compliance leadership in Asia Pacific to support M&G’s growth internationally and operations across multiple regulatory environments.” Amy Cho, Head of Asia Pacific at M&G, added, “Ruth’s deep regional experience and understanding of asset management will be instrumental as we accelerate our growth.”

Poh expressed her enthusiasm, stating, “I am delighted to join M&G at an important time for the business in Asia Pacific. I look forward to working closely with colleagues across the firm to provide clear, pragmatic oversight and support the continued development of M&G’s activities across the region.”

M&G’s focus on Asia Pacific is part of its broader strategy to expand its international presence, with clients outside the UK now accounting for nearly 60% of its third-party assets under management.

Alstom, a global leader in smart and sustainable mobility, has appointed Yann Maixandeau as Managing Director for East Asia. Based in Singapore, Maixandeau will oversee operations and business performance across eight markets, including Hong Kong, Korea, Malaysia, the Philippines, Singapore, Thailand, Taiwan, and Vietnam.

With nearly 20 years at Alstom, Maixandeau brings extensive international leadership experience in strategy, operations, finance, and project management. His previous roles have spanned Singapore, Malaysia, India, South Africa, France, and Brazil. Most recently, he served as Managing Director for Singapore and Malaysia.

Alstom, employing over 1,600 people across the region, has been a significant player in East Asia’s rail sector for more than four decades. The company is involved in various transformative projects, such as Bangkok’s Pink and Yellow monorail lines, Taipei’s Wanda-Zhonghe-Shulin and Circular lines, Hanoi Metro Line 3, and Manila Light Rail Transit Line 1 Cavite Extension. Additionally, Alstom is delivering major strategic projects like the North-South Commuter Railway Extension in the Philippines and signalling systems for Singapore’s Circle Line.

“East Asia is one of the key growth engines for sustainable mobility worldwide,” said Maixandeau. “With our longstanding presence and strong local partnerships, Alstom is well positioned to support this transformation.”

Alstom’s commitment to sustainable transportation is evident in its wide range of solutions, from high-speed trains to digital rail systems.

Global wealth manager St. James’s Place (SJP) has announced an expansion of its investment offerings across Asia and the Middle East with the introduction of its Flagship Portfolio Funds (FPFs) and access to the Morningstar Wealth Platform. This development aims to strengthen SJP’s investment proposition by offering a more integrated and flexible approach to wealth management.

The Flagship Portfolio Funds provide a centrally managed range of multi-asset funds, built on SJP’s Investment Management Approach. This approach combines asset allocation, manager selection, and portfolio construction into a single investment solution. The funds are designed to cater to different risk profiles and offer a curated selection of leading global fund managers, typically unavailable to individual investors. These funds are available in Hong Kong, Singapore, and the UAE, reflecting local market requirements whilst maintaining diversified exposure across various asset classes, sectors, and regions.

Angelina Lai, Chief Investment Officer for Asia and the Middle East at SJP, stated, “Investors today face increasingly complex and uncertain markets. Our Flagship Portfolio Funds are designed to provide a clear and consistent approach to investing, supported by ongoing research, analysis, and regular investment insights from our investment team.”

In addition to the FPFs, the Morningstar Wealth Platform will be accessible across Asia and the Middle East. This platform enhances the flexibility available to advisers, allowing them to work with clients who have more complex requirements. It complements the FPFs by providing access to a broader range of approved investments, supporting more tailored client needs.

Together, these offerings broaden the range of investment solutions available to clients and advisers, providing greater choice and access to professionally managed investment strategies.

Igloo, a leading insurtech company in Southeast Asia, has announced the acquisition of Eazy Digital, a Singapore-based insurtech firm with operations in Thailand and Asia. This strategic move will see Eazy Digital’s client base and Thai team integrated into Igloo, with Eazy Digital’s founder, Harprem Doowa, assuming the role of Country Head of Igloo Thailand and Head of Tech Solutions APAC.

This acquisition marks Igloo’s second significant transaction in Thailand within a year, following a joint venture with JMT Network Services in 2025 to establish Thailand’s first digital insurer. The acquisition underscores Igloo’s commitment to expanding its footprint in Thailand, a priority growth market, and enhancing its insurance operating system to meet the region’s demand for scalable, tech-driven solutions.

Igloo operates across six Southeast Asian markets, processing over 100 million policies monthly through partnerships with more than 100 partners, including Chubb and MSIG. The company has raised over $100m to support its AI-native operating system, which facilitates the digitalisation and distribution of insurance products.

Eazy Digital, recognised as the Most Disruptive InsurTech in Thailand in 2024 and 2025, complements Igloo’s offerings by helping insurers digitise operations and improve sales productivity. The acquisition aims to address Thailand’s insurance sector’s protection gap by enabling faster product launches and broader distribution.

Raunak Mehta, Co-Founder and CEO of Igloo, stated, “Acquiring Eazy Digital gives partners across Asia immediate access to the full Igloo stack, and gives us the local presence, team, and leadership to serve this market at scale.” Harprem Doowa added, “This is an opportunity for Eazy to amplify our platform’s success with Igloo’s resources and reach.”

Gordian Capital, Asia’s first and largest institutional cross-border fund platform, has rebranded to IQ-EQ, enhancing its service offerings across the Asia-Pacific (APAC) and Middle East regions. This strategic move aims to streamline access to IQ-EQ’s extensive investor services and specialist support, now spanning 25 jurisdictions including Singapore, Hong Kong, Tokyo, and Dubai.

The rebrand integrates Gordian Capital’s capabilities with IQ-EQ’s global platform, offering clients a more cohesive service experience whilst maintaining local service delivery. Mark Voumard, Managing Director and Head of Fund Platform and Solutions for Asia and the Middle East at IQ-EQ, stated, “Rebranding Gordian to IQ-EQ allows us to go to market under one brand and present a strong, united team with significant depth and breadth of expertise globally.”

Since its inception in 2005, Gordian Capital has launched over 115 funds and currently manages $22b across various strategies, including private equity, real estate, and venture capital. The rebrand follows the company’s recent regulatory approval to establish operations in the Dubai International Financial Centre, further solidifying IQ-EQ’s presence in the region.

This development is part of IQ-EQ’s broader global growth strategy, aiming to enhance its fund structuring and operational capabilities. The rebrand promises new opportunities for clients and employees alike, as IQ-EQ continues to commit to delivering service excellence under its unified brand.

AirAsia MOVE, Asia’s leading travel booking app, has announced the addition of four new direct airline partners in the second quarter of 2026. The new partnerships with Oman Air, Uzbekistan Airways, FitsAir, and Hainan Airlines aim to enhance travel options across the Middle East, Central Asia, South Asia, and China, providing travellers with greater choice and seamless access to emerging destinations.

The expansion reflects growing confidence in AirAsia MOVE as a preferred distribution channel for airlines seeking to tap into the region’s rapidly growing traveller base. The platform continues to expand its flights inventory, catering to both full-service and low-cost carriers.

Nadia Omer, CEO of AirAsia MOVE, commented on the development, stating, “Travel across Asean is evolving rapidly, with travellers demanding greater choice and seamless control all on one platform. As a flights-first OTA, expanding our network offering is core to our mission. Securing the trust of major carriers like Oman Air, Uzbekistan Airways, FitsAir, and Hainan Airlines, particularly amidst ongoing macroeconomic headwinds and volatility, is a powerful testament to the commercial strength of the MOVE ecosystem and the regional reach we deliver to our partners.”

This strategic move by AirAsia MOVE not only strengthens its position in the travel booking market but also underscores its commitment to providing comprehensive travel solutions to its users. As the platform continues to grow, it is expected to further enhance its offerings, providing even more options for travellers in the future.