Industry News

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.

SDAI Limited has signed a non-binding Memorandum of Understanding (MoU) with Hubei Qiai Group to establish a platform for bringing China’s mugwort products to global markets. This strategic move is set to capitalise on the growing popularity of mugwort, a traditional herb known for its soothing and aromatic qualities, which is gaining traction in wellness, beauty, and food industries worldwide.

Founded in 2021, Hubei Qiai has rapidly become a leader in China’s Traditional Chinese Medicine sector, focusing on the high-growth mugwort industry. The company operates across the entire value chain, from cultivation to distribution, and boasts a retail network of over 13,000 outlets across China. Hubei Qiai’s innovative approach includes transforming traditional moxibustion therapy into electric-based solutions, enhancing user experience and scalability.

The global mugwort market is projected to grow from $531.90m in 2025 to $798.75m by 2032, reflecting a compound annual growth rate of 5.94%. This partnership aims to tap into this expanding market, diversifying SDAI’s revenue streams and strengthening the international presence of mugwort products.

Executive Chairperson of SDAI, Hao Dongting, expressed enthusiasm about the collaboration, stating, “We are truly thrilled to partner with the leading name in the mugwort industry. This collaboration marks an exciting milestone as we expand into the fast-growing mugwort sector.”

As SDAI continues its transformation into a biotechnology company, this partnership with Hubei Qiai represents a significant step in its strategic expansion, potentially creating sustainable value for its shareholders.

Enreach for Service Providers has announced a strategic partnership with Cataleya to expand their Unified Communications as a Service (UCaaS) offerings in the Asia-Pacific region. This collaboration builds on their successful partnership in the UK and aims to capitalise on the increasing demand for UCaaS solutions in markets such as Japan, Singapore, and Hong Kong, which are expected to see user growth rates exceeding 20% annually over the next five years.

The partnership combines Enreach’s smart contact platform, Enreach UP, with Cataleya’s advanced Session Border Controller (SBC) technology. Enreach UP integrates voice, chat, collaboration, and AI, offering service providers a comprehensive solution without the need to develop their own technology. Bertrand Pourcelot, CEO of Enreach for Service Providers, highlighted the benefits, stating, “Our joint proposition gives those audiences a market-proven, simplified, and fast track to deployment.”

Cataleya, headquartered in Singapore, brings its extensive experience and local presence to the partnership, ensuring support and responsiveness to customer needs. Andreas Hipp, CEO of Cataleya, emphasised their role, saying, “We can guarantee the support and responsiveness that customers will expect, as well as an understanding of local requirements.”

The partnership offers a multi-tenant, multi-tier, white-label solution, allowing service providers to brand the service as their own. Robert Urban, International Sales Director at Enreach, noted the importance of local presence and data sovereignty, which are crucial for many customers in the region.

This collaboration marks a significant step in Enreach’s international expansion, enabling service providers to offer AI-enhanced UCaaS services that enhance customer interactions, productivity, and user experiences. The partnership also allows Cataleya to expand its portfolio beyond on-premise solutions to the cloud, further solidifying its position in the market.

UOB’s latest Quarterly Global Outlook for Q1 2026 highlights a promising start for ASEAN economies, despite global uncertainties. The report notes that ASEAN countries are benefiting from a realignment of supply chains, boosting intra-regional trade and exports. This trend is particularly evident in sectors linked to artificial intelligence and electronics, with Malaysia and Singapore showing significant export growth.

The report underscores the strength of ASEAN currencies, which have performed well against the US dollar. This currency resilience is attributed to strong export performance and a global trend towards de-dollarisation. The People’s Bank of China’s efforts to stabilise the Renminbi have also contributed to this stability, allowing ASEAN central banks like the Monetary Authority of Singapore to maintain a cautious approach to monetary policy.

Inflation across the region remains benign, with most ASEAN economies experiencing stable price levels. This is partly due to strong regional currencies enhancing purchasing power and the influx of competitively priced goods from China. UOB anticipates ASEAN’s real GDP growth to stabilise at an average of 4.6% in the medium term, supported by continued foreign direct investment inflows, which grew by 10.2% year-on-year in the first half of 2025.

Looking ahead, UOB maintains a positive outlook for ASEAN, projecting nominal foreign direct investment inflows to reach $370b by 2030 and $560b by 2035. This growth is expected to be driven by ongoing trade and investment opportunities within the region.

eSignGlobal, a prominent provider of electronic signature and digital contract services, has announced a strategic partnership with Lion-OCBC Capital Asia, a private equity fund under OCBC Bank. This collaboration, revealed during the 18th Singapore-Zhejiang Economic and Trade Council meeting, aims to establish a cross-border digital trust ecosystem linking China and Southeast Asia. The partnership signifies eSignGlobal’s strategic backing from a leading financial institution, integrating technology and capital to foster regional digital trust.

The agreement will see eSignGlobal setting up its Southeast Asian headquarters in Singapore, leveraging Lion-OCBC Capital Asia’s extensive financial network to expand into key ASEAN economies. The company plans to enhance its services for Chinese enterprises by collaborating with local service providers like FOZL Group, integrating digital signing into corporate registration and compliance processes.

A significant development in this partnership is eSignGlobal’s integration with Singpass, Singapore’s National Digital Identity platform. This integration allows users to sign electronic contracts by scanning a QR code with the Singpass app, addressing cross-border trade challenges such as identity verification and contract turnaround times. This initiative complies with Singapore’s Electronic Transactions Act, reinforcing digital trust between China and Singapore.

Sim Ann, Singapore’s Senior Minister of State for Foreign Affairs and National Development, endorsed eSignGlobal’s technological advancements, highlighting the potential for expanded digital cooperation. Jin Hongzhou, CEO of eSignGlobal, emphasised the company’s commitment to building a secure digital business infrastructure, aiming to enable a quarter of the global population to use eSignGlobal for contract signing.