Industry News

AirAsia has announced a new partnership with HYROX APAC, a collaboration designed to merge fitness, lifestyle, and travel across the Asia Pacific region. This initiative, launched on 23 January 2026, aims to support the burgeoning fitness movement by facilitating seamless travel for HYROX athletes, participants, and fans to key host cities.

The partnership is expected to connect a growing HYROX community, with over 250,000 athletes anticipated by 2026. HYROX, known for its inclusive and accessible fitness races, offers various categories such as Singles, Singles Pro, Doubles, Doubles Pro, Relay Teams, and Adaptive, catering to different fitness levels and abilities. Participants compete in a standardised race format worldwide, which includes a 1km run followed by eight functional movements, repeated eight times.

Upcoming races in the HYROX APAC 2025/26 season include events in Auckland, Osaka, Taipei, Bangkok, Singapore, Brisbane, Hong Kong, Incheon, Jakarta, and Kuala Lumpur. The season will culminate in the World Championships in Stockholm from 18 to 21 June 2026.

HYROX, created by industry veterans Christian Toetzke and Olympic medallist Moritz Fruste, aims to bridge the gap between traditional endurance races and functional fitness. The collaboration with AirAsia is set to enhance the accessibility of these events, turning travel into an enabler of meaningful experiences and shared ambitions.

SDAI Limited has announced a strategic partnership with Hubei Qiai Group to expand the mugwort industry in Southeast Asia. The collaboration, unveiled at a press conference in Singapore on 18 January 2026, aims to transform traditional mugwort heritage into modern health solutions through a joint venture, QCM Holdings Pte. Ltd.

The partnership seeks to establish a holistic health ecosystem by integrating Hubei Qiai’s industrial strengths with SDAI’s regional expertise. This venture will offer a portfolio of over 300 products and aims to create a scalable health ecosystem. The initiative is supported by the establishment of the Qi Ai International Operation Centre, International Mugwort Training Centre, and Mugwort R&D Centre in Singapore.

Jim Rogers, Director of SDAI, highlighted the global relevance of Eastern wellness practices, whilst Professor Brian Kennedy discussed the scientific potential of mugwort. Wang Zhen, Chairman of Hubei Qiai, emphasised the importance of a standardised business model for global commercialisation.

The event also saw the signing of Letters of Intent with over 20 health management organisations from nine countries, including Singapore, Malaysia, and Japan. This move is expected to connect with more than 100 health and wellness centres across the region.

Madam Hao Dongting, Executive Chairperson of SDAI, stated, “Our partnership with Hubei Qiai is founded on a strong alignment of vision and values. We aim to transform centuries-old mugwort heritage into accessible, modern health solutions.”

The collaboration is poised to reshape Southeast Asia’s health landscape by integrating biotechnology with traditional wellness practices, offering sustainable health solutions for the region.

PIMCO and DBS Bank have successfully completed the initial offering of a new back end share class for the PIMCO GIS Balanced Income and Growth Fund (P BIG), raising US$272m within days of its launch on 12 January. The fund, available in Hong Kong, Singapore, and Taiwan since late 2023, is designed to provide consistent income and long-term capital growth through a 60/40 allocation between global core equities and high-quality fixed income.

The new share class was made available to DBS customers in Singapore and Hong Kong without an upfront sales charge during the initial offering period, with a minimum investment of SGD 1,000 or HKD 20,000. A contingent deferred sales charge applies for redemptions within the first three years.

“P BIG is structured to help investors maintain long-term positioning through varied market conditions,” said Marcio Bogoricin, Executive Vice President and Head of Global Wealth Management for Asia ex Japan at PIMCO. The fund’s tactical flexibility aims to support clients’ portfolios across all market environments.

The P BIG fund surpassed US$5b in assets under management in November 2025, with the Administrative USD Income II share class delivering a 21% net return for the year ending 31 December 2025. James Tan, Group Head of Investment Products and Advisory at DBS Bank, highlighted the importance of disciplined diversification and sustainable income generation in today’s markets.

This launch underscores PIMCO and DBS’s commitment to lowering investment barriers for retail investors and expanding access to globally-diversified, actively managed strategies.

ST Telemedia Global Data Centres (STT GDC) has launched Southeast Asia’s first High Voltage Direct Current (HVDC)-powered AI infrastructure testbed, the FutureGrid Accelerator, at Nanyang Technological University (NTU) Singapore’s Electrification and Power Grids Centre. This initiative, officiated by Minister of State for Foreign Affairs and Trade & Industry, Gan Siow Huang, marks a significant step in Singapore’s digital and energy transition efforts.

The FutureGrid Accelerator, developed in collaboration with LITEON and supported by NTU’s Energy Research Institute and deep-tech spinoff Amperesand, aims to demonstrate HVDC integration with AI workloads. This technology promises up to 30% energy savings compared to traditional systems and a reduction of up to 400 tonnes of CO2 equivalent per megawatt annually. It also supports ultra-high-density racks and is compatible with renewable energy sources.

In addition to the testbed, STT GDC has signed Memoranda of Understanding with four Institutes of Higher Learning, including the Institute of Technical Education and Singapore Polytechnic, to enhance skills development in AI and sustainable energy systems. These partnerships are expected to benefit over 8,000 Singaporeans in the next five years through training and internships.

Bruno Lopez, President and CEO of STT GDC, stated, “The FutureGrid Accelerator is a strategic investment in Singapore’s long-term digital leadership.” This initiative is set to reinforce Singapore’s position as a global hub for advanced sustainable digital infrastructure and energy transition.

Singapore’s Lien Foundation and Tan Tock Seng Hospital have launched the Lien Collaborative for Palliative Care in Beijing, a three-year initiative designed to enhance palliative care capabilities in the Chinese capital. This programme seeks to address the challenges posed by ageing populations and the increasing demand for patient-centred care in both countries.

The initiative aims to train more than 1,000 Chinese healthcare professionals and improve palliative care delivery across at least eight institutions in Beijing. It supports China’s national efforts to expand palliative care by tackling issues such as the shortage of trained specialists and the lack of public awareness.

Key components of the programme include the development of online teaching modules for medical professionals, biannual Train-the-Trainer workshops, and fortnightly Online Complex Case Conferences. Additionally, a four-week Clinical Observership Programme in Singapore will offer selected Chinese doctors clinical training and exposure to Singapore’s palliative care ecosystem. The programme will also produce public advocacy videos to encourage end-of-life discussions.

Participating institutions in Beijing include Peking Union Medical College Hospital, Beijing Haidian Hospital, and Sereniturn Palliative Care. These institutions will collaborate to develop treatment protocols and practice guidelines tailored for China.

The initiative also provides an opportunity for Singaporean doctors to learn from Chinese experts about Traditional Chinese Medicine and humanistic care models for end-of-life treatment. This exchange of knowledge is expected to foster long-term policy and ecosystem reform in palliative care.

SC Capital Partners, a prominent Asia Pacific real estate investment manager, has initiated construction of a significant Grade A industrial park in Ras Al Khaimah, United Arab Emirates. This development marks the firm’s first project under the SC GCC Real Estate Industrial Development Fund (GRID), co-sponsored with CapitaLand Investment Limited. The industrial park, located in the Ras Al Khaimah Economic Zone, spans approximately 300,000 square metres and incorporates sustainability features such as water-saving systems.

The project aims to meet the growing demand from high-tech manufacturers and logistics firms for modern, high-specification facilities in the UAE. Interest from potential tenants has already surpassed the planned gross floor area, highlighting the demand for institutional-quality industrial assets in the region. Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “Breaking ground on this project is a tangible demonstration of our ability to convert strategy into execution in the GCC.”

SC Capital Partners has also appointed Yazan Masri as Managing Director, Investments (Middle East). Based in Abu Dhabi, Masri will lead the firm’s investment and business development activities across the Middle East. He brings over 20 years of experience in real estate private equity and principal investing, having held senior roles at Abu Dhabi Capital Group and Al Mal Capital PSC.

Masri expressed enthusiasm about his new role, saying, “I am pleased to join SC Capital Partners as it breaks ground on its first GCC industrial park.” His appointment is expected to strengthen SC Capital Partners’ leadership as it expands its Middle East platform and investments in GRID and other regional strategies.

Willis, a WTW business, has announced the appointment of Alex Benson as Head of Construction and Natural Resources Claims in Asia, effective 6 April 2026. Based in Singapore, Benson will report to Alex Rosati, Head of Claims for Asia at Willis. His role will involve providing technical claims advice, advocacy, and resolution services, working closely with Willis’ regional claims team and global specialists.

Benson’s extensive experience in insurance claims adjustments, particularly in civil construction projects and natural resources losses, is expected to enhance Willis’ service offerings. “Alex Benson brings a wealth of experience in insurance claims adjustments with major adjuster organisations,” said Rosati. “His addition to our claims team in Asia will benefit our clients, particularly as companies in the construction and natural resources industries face increasingly complex risk challenges.”

Alan Long, Global Head of Natural Resources Claims at Willis, highlighted the strategic importance of Benson’s appointment, stating, “This addition to our team also reflects the importance we place on claims services and solutions, and our commitment to specialisation in all aspects of our proposition for clients.”

Benson, a Chartered Loss Adjuster and certified member of the European Federation of Loss Adjusting Experts, has held senior positions at global loss adjusting firms. Having spent the past decade in Asia, he has built a strong reputation with clients and industry participants. His appointment underscores Willis’ commitment to delivering specialised claims services in the region.

HSBC Private Bank has announced several senior appointments across Asia, underscoring its strategic focus on offshore China and Global India. These changes aim to strengthen the bank’s wealth planning and leadership in Southeast Asia, as well as its coverage for key international corridors.

In a move to enhance its Global India coverage, HSBC has appointed Phaneendar Bhavaraju and Rangan Krishnan as Senior Relationship Managers in Singapore. Both bring extensive experience in wealth management and will report to Manoj Ramarao, Senior Desk Head, Global India, Singapore and Hong Kong. Phaneendar has a background in private banking and structured finance, whilst Rangan has held leadership roles in wealth management across Asia.

For its Chinese clientele, Alex Liu has been appointed Market Head of Offshore China, extending his responsibilities to include teams in Singapore. Based in Hong Kong, Liu will report to Kanas Chan, Head of North Asia and Hong Kong. This appointment aims to enhance HSBC’s ability to serve the international needs of Chinese clients.

Dawn Fung has been confirmed as Head of Wealth Planning, Southeast Asia. With over 25 years of experience, Fung will continue to lead the region’s wealth planning initiatives, focusing on high net worth and ultra-high net worth clients.

In Thailand, William Fok has been appointed Country Head of Private Bank, bringing over 20 years of experience in structured products and investment advisory. Fok’s return to HSBC marks a strategic move to strengthen the bank’s onshore private banking business in Bangkok.

These appointments reflect HSBC’s commitment to expanding its capabilities and capturing opportunities in key Asian markets.

Cyber incidents remain the foremost concern for businesses in Asia Pacific, according to the Allianz Risk Barometer 2026. The survey highlights that cyber threats, particularly ransomware attacks, are the top risk for companies of all sizes, with 36% of respondents identifying it as their primary concern. Whilst artificial intelligence (AI) has surged to the second position, marking the most significant rise in the rankings, as businesses grapple with its operational, legal, and reputational implications.

The Allianz Risk Barometer, an annual survey by Allianz Commercial, underscores the evolving risk landscape in the region. AI’s rapid ascent from ninth to second place reflects its growing influence across various industries. Thomas Lillelund, CEO of Allianz Commercial, noted, “Given the continuing rise of AI across society and industry, it is unsurprising that it is the big mover in the Allianz Risk Barometer.”

Business interruption, previously a top two risk, has dropped to third place but remains a significant concern due to its links with geopolitical risks and natural catastrophes. Christian Sandric, President of Allianz Commercial Asia Pacific, emphasised the importance of resilience, stating, “The evolving risk landscape, particularly in the areas of cyber threats and the adoption of AI, pose new challenges to businesses in the region.”

The survey also reveals that the Asia Pacific region experienced the highest number of cyberattacks globally in 2024, accounting for 34% of incidents. Despite increased cyber resilience, many large companies in Asia remain self-insured, highlighting a gap in coverage compared to their American and European counterparts.

As AI continues to integrate into core business operations, its associated risks are expected to intensify, particularly concerning liability issues. The rapid adoption of generative AI systems has heightened awareness of potential vulnerabilities, making it a top concern for companies worldwide.
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HSBC Private Bank has announced a series of senior appointments across Asia, aimed at reinforcing its wealth planning and leadership in Southeast Asia, and strengthening its coverage for offshore China and Global India. These regions are identified as key strategic focus areas for the bank’s growth.

The bank has expanded its Global India coverage team in Southeast Asia, reflecting the segment’s growing importance. Phaneendar Bhavaraju and Rangan Krishnan have joined as Senior Relationship Managers in Singapore, reporting to Manoj Ramarao, Senior Desk Head, Global India, Singapore and Hong Kong. Phaneendar brings over 28 years of experience in various financial sectors, whilst Rangan has over 31 years in wealth management, most recently serving at Bank of Singapore.

In a move to enhance international coverage for Chinese clients, Alex Liu has been appointed Market Head of Offshore China. Based in Hong Kong, Liu will extend his coverage to include Offshore China teams in Singapore, reporting to Kanas Chan, Head of North Asia and Hong Kong. This appointment aims to better serve the international needs of Chinese clients and capture opportunities in the Greater China business.

Additionally, Dawn Fung has been appointed Head of Wealth Planning, Southeast Asia. With over 25 years of experience, Fung will continue to lead the region’s wealth planning agenda, focusing on high net worth and ultra-high net worth clients.

In Thailand, William Fok has been appointed Country Head of Private Bank, bringing over 20 years of experience in structured products and investment advisory. Fok’s appointment marks a return to HSBC, where he previously worked in Hong Kong and Bangkok.

These strategic appointments underscore HSBC Private Bank’s commitment to strengthening its leadership and expanding its services across key Asian markets.