Industry News

Manulife has announced significant leadership changes to strengthen its Global High-Net-Worth (GHNW) business and distribution capabilities across Asia. Effective 1 December 2025, Bonnie Qiu will become CEO of Global High-Net-Worth and Chief Partnership Distribution Officer, Asia. Currently the Chief Distribution Officer for Asia, Qiu will lead the high-net-worth business and continue overseeing partnership distribution, including bancassurance, international brokerage, and digital channels.

In a seamless transition, Qiu will work closely with Jean Wong, the current CEO of GHNW, who is set to retire in Q2 2026 after nearly 30 years with Manulife. Wong’s tenure saw the formation of GHNW in 2023 and the company’s entry into the Middle East market, establishing a Dubai office in the Dubai International Financial Centre.

Additionally, Rishi Srivastava, Chief Agency Officer, Asia, will join Manulife Asia’s senior leadership team immediately. Srivastava has been pivotal in advancing Manulife’s agency transformation strategy, focusing on training, recruitment, and technology to enhance productivity.

Both Qiu and Srivastava will report to Steve Finch, President and CEO of Manulife Asia. Finch remarked, “These leadership changes underscore our commitment to building a strong foundation for achieving high-quality, sustainable growth.”

With these appointments, Manulife aims to accelerate its strategic priorities and reinforce its leadership across the region, positioning itself for continued success in the evolving financial landscape.

Lazada, a leading eCommerce platform in Southeast Asia, has unveiled findings from a Cube Asia study highlighting a significant shift towards authenticity-driven, quality-first eCommerce in the region. The study, released at the LazMall Brand Gala, indicates that the market for authenticity-driven eCommerce is expected to grow from 12% in 2020 to 55% by 2030, reaching a value of $150b.

The survey, which included 6,000 consumers across Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam, found that 90% of online shoppers are engaging with Mall environments, reflecting a growing demand for trusted and quality products. Lazada’s brand-led strategy, anchored in its LazMall ecosystem, positions the platform to capture this market potential.

Key findings reveal that 90% of consumers are willing to pay a premium for authentic brand goods, with 31% prepared to pay 10–30% more. The study also identifies three dynamics driving this eCommerce surge: widening product assortment, omnichannel integration, and the use of AI in product discovery and comparison.

Lazada’s recent performance underscores its strategic success, with a 53% increase in million-dollar GMV brands since 9.9 and a 39% GMV uplift during the 11.11 sale. The platform’s average revenue per user rose by 70%, with buyer penetration reaching 65%.

As Southeast Asia enters a “Confidence Commerce” phase, Lazada’s strategy is set to lead the market towards a future defined by higher consumer expectations and authenticity guarantees. Iris Wei, President of Lazada Group, stated, “The findings from Cube Asia validate Lazada’s brand-led strategy and reinforce our commitment to building a high-trust, quality-first ecosystem.”

foodpanda has announced a 30% reduction in delivery partner accidents across the Asia-Pacific region since 2023, attributed to the expansion of its ‘panda hearts’ programme. This initiative, launched last year, focuses on the safety, well-being, and personal growth of delivery partners, combining education, equipment, and technology to ensure safer journeys.

The programme includes multi-layered, locally tailored efforts across 10 markets. Key initiatives involve safety workshops and traffic rule refreshers in Bangladesh, Cambodia, and Pakistan, as well as a Rider Safety Month in Singapore, which increased delivery partner satisfaction from 46.4% to 51.7%. Protective gear, such as safety kits and reflective decals, has been distributed in Singapore, Pakistan, and Taiwan, contributing to a 99.99% delivery safety rate in Taiwan.

Anson Chin, Senior Director of Logistics at foodpanda, stated, “Our sustained initiatives over the past two years have pushed a significant overall reduction in accident rates. This success is a testament to our long-term commitment to creating a safer environment for all our delivery partners on the road.”

In addition to training and gear, foodpanda offers free 24-hour accident insurance in Cambodia, Pakistan, and Laos. Collaborations with government agencies and traffic authorities in Cambodia, Hong Kong, Pakistan, and Singapore further bolster safety efforts.

Looking ahead, foodpanda plans to enhance traffic safety through localised campaigns, new in-app fatigue management alerts, and broader partnerships with governments and NGOs to promote road safety education.

Developers across Southeast Asia and India are rapidly teaching themselves artificial intelligence (AI), according to Agoda’s AI Developer Report 2025. The report indicates that 72% of developers are self-taught, with only 28% receiving employer-led training. This trend is accelerating skill growth but also exposing gaps in access and support across the region.

AI has become a pivotal force in career development, with 87% of developers altering their learning or career priorities due to AI’s influence. Despite the rapid pace of self-directed learning, formal training programmes are struggling to keep up. Peer learning has emerged as a crucial component of AI education, with 52% of developers turning to online communities and open-source projects.

However, the report highlights disparities in access to formal AI training. Developers in Singapore are nearly twice as likely to have access to such training compared to their counterparts in Vietnam. Additionally, a 25-point confidence gap exists between senior and junior engineers, underscoring the importance of mentorship and structured learning.

The fast-evolving nature of AI technology is also creating pressure, with 44% of developers concerned about falling behind. Furthermore, 58% now view AI proficiency as a baseline requirement for hiring. Idan Zalzberg, Chief Technology Officer at Agoda, emphasised the need for companies to build systems of trust and accountability to sustain this self-driven momentum.

Agoda is actively investing in upskilling local tech talent through initiatives such as internal AI hackathons, tech talks, and Tech Camp Day, which has empowered thousands of students in Thailand. The report, which includes insights from companies like Carousell and SCB 10x, offers a comprehensive view of AI adoption and integration in the region’s developer ecosystem.

Businesses across Asia Pacific (APAC) and Europe are gearing up for a promising holiday season, according to a recent survey by Federal Express Corporation (FedEx). Conducted in September 2025, the survey gathered insights from 850 small and medium-sized enterprises (SMEs) and 850 consumers in 13 APAC markets, alongside over 1,200 SMEs in nine European markets. The findings reveal that over 70% of APAC SMEs and 80% of European SMEs expect improved holiday sales compared to last year.

The survey highlights the significant impact of major shopping festivals like Double 11, Black Friday, and Cyber Monday. These events are seen as critical by 91% of APAC SMEs and 83% of European SMEs for capturing seasonal demand. Additionally, 88% of APAC consumers plan to conduct at least a quarter of their holiday shopping online, with more than half intending to increase their digital purchases compared to last year.

Efficient shipping remains a top priority for APAC shoppers, with nearly nine in ten citing it as essential. However, delivery delays and high shipping costs continue to be major pain points. More than half of APAC consumers indicated that lower shipping costs and faster delivery times would increase their likelihood of purchasing from European sellers.

To meet these expectations, nearly one-third of businesses in both regions are enhancing their fulfilment and delivery operations. Over one-third are also strengthening customer service capabilities. Encouragingly, 85% of businesses in both APAC and Europe are confident about meeting delivery deadlines this holiday season.

FedEx is supporting these efforts with integrated digital logistics solutions, such as FedEx Ship Manager integrations with Shopify and BigCommerce, and services like FedEx International Connect Plus. These tools aim to streamline order fulfilment and improve delivery speed and reliability, helping e-tailers deliver exceptional customer experiences during the busy holiday period.

Vantage Data Centres has finalised a $1.6b equity investment in its Asia-Pacific (APAC) platform, led by GIC and the Abu Dhabi Investment Authority (ADIA). This investment facilitated the acquisition of Yondr Group’s 300MW hyperscale data centre campus in Johor, Malaysia, announced on 24 November 2025. The acquisition enhances Vantage’s regional footprint, bringing its operational and planned IT capacity to 1GW across Australia, Malaysia, Japan, Taiwan, and Hong Kong.

The Johor campus, known as JHB1, spans nearly 73 acres and will provide over 300MW of IT capacity across three data centres once fully developed. Located within the Johor-Singapore Special Economic Zone, JHB1 offers strategic connectivity with dark fibre routes and access to regional hubs. Originally financed through a green loan, the campus incorporates sustainability-focused technologies, including direct-to-chip liquid cooling, and aims to meet EDGE certification standards.

Jeremy Deutsch, president of Vantage Data Centres APAC, stated, “Finalising the acquisition of this campus in Johor marks an important step in our growth strategy for APAC. We are bringing one of Southeast Asia’s largest and most advanced hyperscale campuses into our platform.”

The expansion is part of Vantage’s broader strategy to serve AI and cloud customers with sustainable and scalable infrastructure. The integration of more than 30 Yondr APAC team members into Vantage is expected to bolster the company’s capabilities in key markets such as Singapore, Indonesia, and Thailand.

A recent HSBC Global Trade Pulse report indicates that Asian businesses are increasingly adapting to the evolving trade landscape, with a significant shift towards intra-Asian trade. The survey reveals that 68% of Asian respondents now feel more certain about trade policy impacts compared to six months ago, as the initial shock of the “Liberation Day tariffs” begins to subside.

The report highlights a decrease in expected revenue impact from supply-chain disruptions, with Asian firms forecasting a 13% negative impact over the next two years, down from 18% previously. In Singapore, 79% of businesses remain optimistic about trade growth, demonstrating enhanced supply chain resilience and risk management.

Asian companies are increasingly focusing their trade strategies within the region, with 41% planning to increase reliance on Southeast Asia, 34% on East and North Asia, and 29% on South Asia. Aditya Gahlaut, Regional Head of Global Trade Solutions, Asia at HSBC, noted, “Our research data suggest that companies in Asia are adapting to the new environment. Though their concerns around revenue have eased slightly, they remain alert to risks.”

Runa Baksi, Head of Southeast Asia, Global Trade Solutions at HSBC, emphasised the importance of supporting clients through uncertainties, stating, “The HSBC Trade Pulse Survey highlights the resilience and optimism of businesses in Singapore, and we are committed to empowering them with the tools and insights needed to navigate these challenges.”

As the trade map continues to evolve, Asian firms are poised to leverage regional opportunities, ensuring competitiveness amidst global uncertainties.

EdenX Group, a fintech company based in Melbourne and Singapore, has announced a US$5m funding round to enhance its platform for private capital raising and business exits in the Asia-Pacific region. Supported by SC Ventures, the innovation arm of Standard Chartered Bank, the funding will help EdenX expand its regulated capital markets infrastructure and develop a comprehensive platform for business transactions.

The company, which integrates business sales, franchise development, media, and capital raising, has already onboarded over 250 brands, including notable names like Red Rooster, Pizza Hut, and Donut King. EdenX is licensed in both Australia and Singapore and plans to introduce tokenised capital issuance tools for small and medium-sized enterprises (SMEs) by 2026.

EdenX’s strategic expansion into Southeast Asia is driven by the “grey tsunami” of ageing business owners seeking succession solutions, alongside rising SME formation and demand for franchise systems. The company has secured a Capital Markets Services licence from the Monetary Authority of Singapore (MAS) and is gaining traction in Singapore, Malaysia, and the Philippines.

The capital raise follows a successful year, with EdenX’s FY24 revenue exceeding US$1.3m and projections to reach US$16.1m by FY28. CEO Dhanush Ganglani stated, “This raise gives us the firepower we need to take a major step forward in delivering the capital markets infrastructure that SMEs have long lacked.”

EdenX’s platform offers a complete ecosystem, including business sales, capital raising, franchise strategy, and media services. Founder Raghu Rajakumar highlighted the company’s success-based model, noting that one franchise client generated over US$150,000 in annual revenue through EdenX’s services. With the funding round now open, EdenX is engaging investors interested in the future of digital private markets and franchise growth in Asia-Pacific.

Foodpanda, a leading food and grocery delivery platform in Asia Pacific, has announced new partnerships with ride-hailing providers TADA, Bolt, and LINE GO. This collaboration aims to enhance the value of its pandapro membership by offering subscribers in Singapore, Malaysia, and Taiwan exclusive ride discounts and cross-platform perks. The initiative is part of a broader regional rollout, with more markets expected to follow.

The partnerships are designed to simplify and enrich everyday life for customers by integrating food and transportation services into a single membership. Giuseppe Randazzo, Chief International Officer of Foodpanda APAC, stated, “Pandapro is no longer just about food delivery; it’s about delivering convenience and maximising value wherever our customers go.”

Key benefits for pandapro members include exclusive ride discounts and up to six months of complimentary subscriptions for new users in select markets. The collaboration also aims to boost growth opportunities for Foodpanda’s merchant partners by increasing visibility and cross-platform reach. In Taiwan, pandapro merchants have already experienced a fourfold increase in orders, with membership engagement reaching record highs.

Foodpanda operates across 10 markets in Asia Pacific, including Singapore, Hong Kong SAR, and the Philippines. As a subsidiary of Delivery Hero, Foodpanda continues to spearhead the growth of quick commerce in the region. The new partnerships are expected to redefine convenience for millions of customers, whilst also supporting sustainable growth for local businesses.

Singapore’s self-storage operators have been ranked first in Asia for their adoption of energy- and water-saving environmental features, according to the latest survey by JLL and the Self Storage Association Asia (SSAA). Released on 21 November 2025, the survey reveals key insights into consumer preferences and industry trends, highlighting Singapore’s leadership in sustainability within the sector.

The SSAA Annual Survey report for 2024 underscores the self-storage industry’s optimism for medium-term growth. “Self storage continues to provide immense and growing value for business customers, personal users, and investors,” said Helen Ng, Chairman of SSAA. The report indicates that Singapore’s self-storage market is heavily dominated by institutional-grade properties, with retailers and start-ups being the largest business users.

Key findings from the survey show that Singapore, alongside Hong Kong, has the highest proportion of self-storage facilities in industrial buildings. Climate-controlled storage is gaining popularity in Singapore, and occupancy rates remain robust at over 84%. The city-state also enjoys healthy rental growth at 5.3%, with expectations of further increases in the next three to five years.

Across the Asia-Pacific region, self-storage stock has grown to 16.3 million square feet, with significant new supply expected in 2025. The survey highlights strong rental growth in Vietnam, the Middle East, and the Philippines, whilst India faces some rental rate compression. The demand from household users is rising sharply in markets including China, South Korea, Singapore, and Thailand.

The survey also notes the increasing use of artificial intelligence in the industry, with many operators implementing AI for access control, electronic locks, and customer-facing applications. Despite challenges in finding suitable real estate, investment in the sector is picking up pace, although operators remain cautious about seeking external investment.

The comprehensive data provided by the survey is invaluable to self-storage companies, investors, and other stakeholders, offering insights into operational success and future prospects.