Industry News

CGS International has marked a significant year in 2025 by completing 14 initial public offerings (IPOs) across Singapore, Malaysia, and Thailand, reinforcing its role in facilitating capital flows in the ASEAN region. The company has successfully listed companies in diverse sectors such as technology, real assets, industrials, and consumer goods, showcasing its expanding regional influence.

The firm achieved notable milestones with listings on the Singapore Exchange (SGX) Mainboard, Catalist, Bursa Malaysia Main Market, and the Stock Exchange of Thailand (SET). Highlights include Info-Tech Systems’ Mainboard IPO in Singapore, raising $42.3m (S$57.4m), and China Medical System’s secondary listing, which saw a share price increase of 11.2% on debut. In Malaysia, CGS International facilitated Paradigm REIT’s Main Market IPO, raising $118.6m (RM560m), and in Thailand, it was a lead underwriter for Mr D.I.Y. Thailand’s significant IPO on the SET.

Jason Saw, Group Head of Investment Banking at CGS International, stated, “2025 has been a milestone year for CGS International’s investment banking franchise. Our work across Singapore, Malaysia, Indonesia, and Thailand showcases the depth of our One CGS platform.”

The company’s achievements underscore its growing influence in Asia’s capital markets, with a robust pipeline of mandates anticipated to further strengthen its leadership position. Through its integrated presence, CGS International continues to facilitate cross-border listings and regional fundraisings, enhancing connectivity among ASEAN’s capital markets.

MarinaChain, a burgeoning maritime decarbonisation technology firm from South Korea, has unveiled plans to form a joint venture in Singapore. This strategic move, announced on 11 December 2025, is part of the company’s global expansion efforts and aims to create an integrated carbon compliance hub. The hub will combine carbon accounting, alternative fuel trading, regulatory consulting, and data infrastructure into a single platform for shipping companies.

The decision to establish this joint venture in Singapore underscores MarinaChain’s commitment to advancing maritime decarbonisation on a global scale. Singapore, with its strategic location and robust maritime industry, offers an ideal environment for such an initiative. The hub is expected to streamline processes for shipping companies, enabling them to meet regulatory requirements more efficiently whilst adopting sustainable practices.

The establishment of the carbon compliance hub is anticipated to have far-reaching implications for the maritime industry, promoting the adoption of alternative fuels and enhancing regulatory compliance. As the industry faces increasing pressure to reduce emissions, MarinaChain’s initiative could play a pivotal role in facilitating this transition.

The joint venture is being formed with GreenMarine, a Singapore-based cleantech provider specialising in green methanol trading, sustainability consulting, and regulatory training. GreenMarine’s team includes seasoned experts from Europe, the world’s most advanced regulatory environment for maritime decarbonisation.

Looking ahead, MarinaChain’s joint venture in Singapore is poised to become a key player in the global effort to decarbonise the maritime sector, setting a precedent for similar initiatives worldwide.

Syfe, a leading Asia-Pacific wealth management platform, has reported a landmark year with client returns exceeding US$2b in 2025 and achieving group profitability for the first time in Q4. Operating in Singapore, Hong Kong, and Australia, the platform has demonstrated resilience amidst global market volatility, validating its business model and strategic execution.

The platform’s assets under management have surpassed US$10 billion, bolstered by the acquisition of Selfwealth in Australia and a US$80m Series C fundraise. Hong Kong emerged as a key growth driver, with assets under management increasing nearly six-fold.

Syfe’s mission to democratise investing has resulted in US$88m in fee savings for investors, compared to traditional benchmarks. Additionally, the platform distributed nearly US$127m in passive income, providing stability during market fluctuations. CEO Dhruv Arora highlighted the introduction of UCITS savings plans, enabling broader access to high-quality investment funds.

Looking ahead to 2026, Syfe plans to enhance its product offerings, including launching Options Trading for Singapore investors. This expansion aims to provide clients with tools for income enhancement and portfolio protection. Arora stated, “Achieving group profitability is further validation that our client-first, innovative approach is both sustainable and scalable.”

As Syfe continues to innovate and expand, it remains committed to leading the future of wealth management in the Asia-Pacific region, empowering clients with the confidence and tools for long-term financial success.

Sygnum Singapore’s APAC HNWI Report 2025 reveals that 60% of high-net-worth individuals (HNWIs) in Asia are planning to increase their cryptocurrency allocations, driven by a strong long-term outlook. The survey, which included over 270 HNWIs and professional investors across 10 Asia-Pacific markets, highlights a significant shift towards digital assets as a core component of wealth preservation and legacy planning.

The report indicates that 87% of respondents already include digital assets in their portfolios, with nearly half allocating more than 10% to these assets. A notable 90% of surveyed HNWIs view digital assets as crucial for long-term wealth preservation, moving beyond mere speculation. Portfolio diversification is now the primary driver for 56% of investment decisions, surpassing short-term trading and megatrend exposure.

Sygnum’s findings also show a strong demand for exchange-traded funds (ETFs) beyond Bitcoin and Ethereum, with 80% of investors expressing interest. Solana, with a 52% demand, is the next most sought-after digital asset. Additionally, 70% of respondents would increase allocations if staking yields were included in ETF products.

Despite regulatory uncertainties and security concerns, the report underscores a robust long-term conviction in digital assets. “APAC is rapidly becoming one of the world’s fastest-growing digital asset gateways,” said Gerald Goh, Sygnum Co-Founder and APAC CEO. The report suggests that traditional wealth managers need to adapt quickly to meet the growing demand for digital asset services within the region’s well-regulated frameworks.

Ascentium, a global business services platform headquartered in Singapore, has announced the acquisition of Marbury, a Hong Kong-based corporate advisory and fund administration services provider. This strategic acquisition aims to bolster Ascentium’s position as a leading provider of fund and corporate services in the Asia Pacific region by integrating Marbury’s expertise in private equity fund administration and its experienced team across key jurisdictions.

Marbury’s operations, spanning Hong Kong SAR, the British Virgin Islands, the Cayman Islands, Bermuda, and Singapore, will be integrated into Ascentium’s existing framework. The transition will see Marbury’s fund services operations migrate to FIS, a renowned platform for fund administration and compliance. This move aligns with Ascentium’s strategy to combine expert knowledge with advanced technology to enhance client experiences.

Lennard Yong, Group CEO of Ascentium, expressed enthusiasm about the acquisition, stating, “We’re delighted to welcome Marbury into the Ascentium family. Their deep market knowledge, service-first culture, and strong reputation make them a natural fit.” Chris Dutka, Managing Director of Marbury, added, “Joining Ascentium presents an exciting opportunity for Marbury. We now benefit from a stronger global platform, greater technology, and broader service capabilities.”

The acquisition of Marbury is part of Ascentium’s ongoing strategy to integrate high-quality firms, specialist talent, and cutting-edge technology. This expansion builds on previous acquisitions, including Harneys Fiduciary, InCorp Global, Links International, and Virtuzone. With a presence in 45 cities across 23 markets, Ascentium now supports over 60,000 client entities worldwide, further solidifying its global footprint.

SDAI Limited is set to unveil its innovative Bluecode Biotech B-III skincare series on 21 December 2025, as part of its strategic transformation into a biotechnology company. This launch, taking place simultaneously in Singapore and China, signifies a major milestone for the Group as it ventures into the burgeoning anti-ageing and biotechnology markets.

The B-III Series, developed by SDAI’s in-house research and development team, aims to harness the regenerative properties of plant stem cells to combat signs of ageing. In Singapore, the Photoprotective Bio Facial Mist will be the first product available, whilst in China, consumers will have access to the Apple Fruit Cell Serum, the Photoprotective Bio Facial Mist, and the Adenium Obesum Cell Facial Mask. These products will be distributed through major e-commerce platforms, including Tmall, Douyin Mall, and Xiaohongshu in China, and Lazada and Shopee in Singapore.

The skincare line focuses on cellular rejuvenation, addressing the root causes of ageing rather than just surface symptoms. “Our transformation journey is progressively yielding results,” said Hao Dongting, Executive Chairperson of SDAI. “This launch represents the Group’s first step towards delivering innovative health and wellness solutions to consumers.”

SDAI’s entry into the biotechnology sector is expected to diversify its revenue streams and strengthen its long-term growth prospects. The Group is committed to becoming a leading player in biotechnology, leveraging advancements in cellular rejuvenation to maximise shareholder value.

The Asia Pacific commercial property leasing market is ending 2025 on a high note, according to CBRE’s latest report. The Asia Pacific Leasing Market Sentiment Index, based on a survey of 522 leasing professionals conducted between 12 and 24 November 2025, indicates strong sentiment across most markets, with Mainland China being the exception due to slower improvement.

Office leasing sentiment has improved, driven by increased tenant enquiries and expansion in the fourth quarter of 2025. Australia, Korea, and Singapore are experiencing the strongest demand, with the tech sector poised to drive further growth in 2026. “The tech sector, particularly software and tech services, is set to drive expansionary demand in 2026,” the report notes.

Retail leasing activity has also picked up, with more enquiries and site inspections leading to mild rental growth and tighter prime availability. Categories such as casual dining, fashion, and sporting goods are expected to lead improvements in 2026, reinforcing a landlord-favoured market.

However, the industrial and logistics sector is facing challenges, with sentiment softening due to ongoing supply pressures. This has maintained a tenant-favoured market, with leasing activity focusing on relocation and consolidation. Despite these challenges, 3PLs and logistics operators continue to lead expansionary demand in the region.

Overall, the report highlights a positive outlook for the office and retail sectors, whilst the industrial and logistics sector may face further challenges in 2026. The tech sector’s growth is expected to play a significant role in driving demand across the region.

CapitaLand Investment Limited (CLI) has successfully closed its second onshore sub-fund, China Retail RMB Fund I (CRF I), under its RMB Master Fund. This new sub-fund, which includes contributions from several onshore institutional investors, has reached a total fund size of RMB1b ($183m). CRF I is projected to add RMB1.48b ($271m) to CLI’s funds under management when fully deployed.

The sub-fund will be seeded with CapitaMall Xinduxin, a prime retail asset located in Qingdao’s Shibei District. This shopping mall, boasting a gross floor area of 141,000 square metres and a committed occupancy of approximately 99.6%, is directly connected to Qingdao’s subway line 3. CLI will continue to manage the property, ensuring ongoing fee income.

Puah Tze Shyang, CEO of CLI (China), highlighted the swift success of the RMB Master Fund, stating, “Since launching our RMB Master Fund in May, we have received strong investor endorsement with the close of two sub-funds in quick succession.” He emphasised the investment opportunities presented by CRF I in a well-located retail asset with a strong catchment area.

Kara Wang, CIO of CLI (China), noted the strategic approach of recycling quality assets into RMB funds, saying, “The recapitalisation of CapitaMall Xinduxin reflects our disciplined approach to recycling quality assets into RMB funds under our domestic-for-domestic strategy.”

CLI’s first sub-fund, China Business Park RMB Fund IV, closed in September 2025 with a total equity commitment of RMB1.74b ($318m). With a robust pipeline of assets across Tier one and top Tier two cities, CLI is poised to support future sub-funds under its RMB Master Fund.

Asia’s economic growth, which saw a significant boost in 2025 due to exports and technology, is expected to moderate in 2026, according to ING’s latest Asia Outlook 2026 report. The report highlights a projected slowdown in Asia ex-China GDP growth to 3.5% as global trade volumes soften. However, opportunities are anticipated in regional foreign exchange (FX) and bond markets, supported by benign inflation and potential rate cuts.

The 2025 economic surge was largely driven by external demand and AI-related tech exports, with countries like Taiwan and Singapore outperforming expectations. In contrast, domestic consumption in markets such as the Philippines and India remained weak. Deepali Bhargava, ING’s chief economist for Asia-Pacific, noted, “Asia’s 2025 story was all about exports and technology doing the heavy lifting whilst consumers stayed cautious.”

Looking ahead, ING forecasts a more balanced growth trajectory for 2026, with fiscal stimulus in Japan and South Korea expected to offset some of the export drag. Inflation is predicted to rise modestly but remain within central bank targets, allowing for continued rate cuts in several countries, including India and Indonesia.

The report also highlights sector-specific gains, with agricultural exporters in India and Indonesia benefiting from lower US food tariffs. Additionally, the ASEAN region is solidifying its role as a global production hub, particularly in semiconductors and auto parts.

ING’s Commodities Outlook 2026 suggests a comfortable global oil supply, with Brent crude expected to average US$57  per barrel. This, combined with stable grain prices, points to a benign commodity environment for the coming year.

A recent survey by Clearwater Analytics reveals that nearly 10% of insurers in the Asia-Pacific (APAC) region struggle with their asset liability management (ALM) systems’ ability to adapt to changes in asset allocation and new data sources. The study, which involved insurance asset management executives from firms managing a total of $3.823t, highlights significant room for improvement in these systems.

The survey, conducted with senior executives from life and health insurers, general insurers, and third-party investment firms in Hong Kong, Singapore, and Australia, identifies regulatory demands as the primary driver for increased technology spending on ALM. These demands include enhanced requirements for stress testing, solvency reporting, and risk disclosures.

Additionally, the shift towards illiquid and alternative asset classes necessitating sophisticated risk models ranks as the second major factor. Advances in computing, such as cloud scalability and artificial intelligence (AI), are also pushing insurers to invest in technology for better risk and capital efficiency insights.

Over the next year, 56% of insurers plan to focus on data analytics, whilst 55% aim to integrate AI and machine learning. Improving customer experience, portfolio management systems, and cloud technology are also key priorities.

Shane Akeroyd, Chief Strategy Officer and President of Asia Pacific at Clearwater Analytics, emphasised the importance of modernising ALM systems, stating, “Insurers recognise that modern ALM requires speed, precision, and integration that legacy systems simply can’t deliver anymore.”

The findings underscore the critical need for insurers to enhance their ALM systems to remain competitive and compliant in a rapidly evolving financial landscape.