Industry News

AI is transforming the workplace across Asia, with a new e-guide from Robert Walters revealing that whilst 93% of professionals actively use AI, only 75% believe it will positively impact their careers. The guide, titled “The Jobs of Tomorrow: How AI is Reshaping Work Across Asia,” draws insights from nearly 5,000 professionals and companies across 10 Asian markets, including Singapore.

AI adoption is widespread, with 58% of Asian employers having implemented it in their operations. However, the perception of AI’s impact varies by region. In Vietnam and the Philippines, optimism is high, with 98% and 95% respectively viewing AI positively. In contrast, Singapore and Hong Kong show more scepticism, with only 67% and 66% of professionals, respectively, expecting positive career impacts.

In Singapore, 89% of professionals use AI, yet only 59% feel confident in maintaining relevant skills. Concerns about AI include job displacement, bias, and skills obsolescence. AI is primarily used for research, content creation, and data analysis in Singapore, enhancing efficiency rather than replacing human judgement.

Kirsty Poltock, Country Manager of Robert Walters Singapore, noted, “AI is reshaping how work is done, shifting routine tasks to automation whilst elevating human responsibility for judgement and decision-making.” She emphasised the need for companies to invest in reskilling, highlighting critical thinking, data analysis, and adaptability as essential skills in an AI-driven workplace.

The findings underscore the necessity for organisations to rethink job roles and career pathways as AI continues to influence the job market across Asia.

Ant International’s Alipay+, a unified wallet gateway, is expanding its network by adding more bank partners amid a surge in demand for cross-border mobile payments in the Asia Pacific region. The latest addition is Hang Seng Bank, marking Alipay+’s first banking partnership in Hong Kong. This collaboration allows Hang Seng Mobile App users to make payments via QR code at over 100 million merchants across more than 55 countries and regions.

Alipay+ is accepted in over 220 markets globally, enabling banks to offer cross-border payment services through a single integration. This system allows banks to expand app functionalities by integrating partner mini-programmes and plug-in solutions, enhancing user engagement. The platform’s established network with over 10 national QR systems, including Malaysia’s DuitNow and Thailand’s PromptPay, facilitates efficient scaling of mobile payment scenarios without the need for individual agreements between banks and merchants.

The demand for outbound cross-border payments from Asia Pacific is projected to grow faster than the global average, with consumer-to-consumer and consumer-to-business payment volumes expected to reach 3.7 trillion by 2032. This growth presents significant opportunities for banks to offer seamless transaction experiences through familiar interfaces.

Banks in Malaysia, the Philippines, Singapore, Thailand, and Vietnam have already connected their users to the Alipay+ network, providing convenient cross-border payment experiences. Beyond Alipay+, Ant International collaborates with banks through other services, such as the Falcon TST AI FX model, which offers long-term FX forecasts with up to 93% accuracy, and the AI-powered blockchain platform Whale for near-instant cross-border liquidity transfers.

Mastercard has unveiled significant upgrades to its virtual card number (VCN) platform, Mastercard In Control, enhancing security and scalability for enterprises and financial institutions. The enhancements include new issuer controls, improved clearing controls, and expanded embedded payments capabilities, allowing for better management of virtual card programmes across 43 countries and 174 currencies.

The platform’s new features aim to address the complexities of cross-border operations, particularly in the Asia Pacific region, which is a key trade corridor. Anouska Ladds, Executive Vice President of Commercial and New Payment Flows at Mastercard, highlighted the importance of virtual cards in managing supplier relationships and working capital without adding risk. “Virtual cards give finance and procurement teams a way to extend that flexibility without adding risk or friction to the supplier relationship,” she stated.

Mastercard’s collaboration with partners like Coupa and HSBC has already led to the first fully embedded finance virtual card transaction in Asia Pacific, demonstrating the growing role of virtual cards in streamlining payment workflows. The platform’s integration model reduces onboarding complexity, making it easier for issuers, platforms, and corporates to adopt.

The introduction of Issuer Enforced Controls and enhanced Clearing Controls further strengthens security, reducing fraud risk and ensuring compliant controls. Citi is set to be the first issuer to deploy these capabilities globally, reinforcing Mastercard’s leadership in secure B2B payments.

As virtual card adoption increases, Mastercard’s innovations provide a robust foundation for businesses to scale their payment solutions with greater confidence and efficiency.

UOB Asset Management (UOBAM) has unveiled its third-quarter 2026 investment strategy, emphasising the global economy’s resilience despite ongoing challenges such as inflation, tariffs, geopolitical tensions, and energy market volatility. The strategy highlights robust corporate earnings and resilient labour markets, with continued investment in artificial intelligence (AI) infrastructure driving growth.

UOBAM’s analysis suggests that the US Federal Reserve is likely to maintain its current interest rate pause, given moderating inflation pressures, particularly in housing and wages. The firm has upgraded its outlook on Onshore China to overweight, citing strong earnings momentum and attractive valuations in Asia. Anthony Raza, Head of UOBAM Multi-Asset Strategy, noted, “The global economy has repeatedly withstood shocks without derailing growth.”

The strategy remains overweight on equities, favouring the US and Asia, and maintains a positive outlook on gold due to its role as a safe-haven asset. UOBAM continues to see opportunities in sectors linked to AI, semiconductors, energy infrastructure, and advanced manufacturing in China. The firm manages 63 unit trusts in Singapore and oversees $443b in client assets as of 30 June 2026.

UOBAM, a subsidiary of United Overseas Bank Limited, has been recognised for its digital innovation and sustainable investing, receiving numerous awards across Asia. The firm’s strategic alliances and presence in multiple Asian countries bolster its investment capabilities.

The latest UOB ASEAN Consumer Sentiment Index shows that consumer confidence across ASEAN remains resilient in 2026, despite ongoing geopolitical tensions and rising oil prices. Singapore recorded the strongest improvement in the region, with its index climbing nine points to 56. This surge was driven by positive perceptions of both the current and future economic conditions, supported by government measures to alleviate cost-of-living pressures.

The index, which measures consumer sentiment across six key indicators, remained steady at 54 for the region. Vietnam, despite a four-point decline, remains the most optimistic market with an index of 63. Thailand also saw a rise, with its index increasing by four points to 51, buoyed by government stimulus measures and a robust tourism sector.

Suan Teck Kin, Head of Research at UOB, noted, “ASEAN-5 economies remained resilient in the first half of 2026, with Singapore and Thailand outperforming expectations.” He highlighted that ASEAN continues to attract multinational corporations, supporting employment growth and economic opportunities.

Conversely, Malaysia’s index eased to 50, reflecting concerns over household expenses and income security. Indonesia experienced a decline, with its index dropping to 49 from 55 the previous year.

The report underscores the varying economic conditions and consumer priorities across the region, with Singapore and Thailand’s strong performance helping to offset softer sentiment elsewhere. As ASEAN remains a compelling investment destination, consumer confidence is expected to continue playing a crucial role in the region’s economic landscape.

Fiuu, a prominent fintech platform in Southeast Asia, has obtained a JCB Direct Acquiring licence, enhancing its card acceptance capabilities in Singapore, Malaysia, and the Philippines, with plans to extend to Thailand. This licence enables Fiuu to process transactions directly with JCB, reducing dependency on intermediaries and improving transaction reliability and visibility for merchants.

The direct acquiring capability allows businesses to benefit from faster settlement processes and consistent payment performance, crucial for supporting cross-border growth. Fiuu’s CEO, Eng Sheng Guan, highlighted the significance of this development, stating, “Our direct acquiring relationship with JCB strengthens that foundation, allowing us to support merchants with broader acceptance, greater consistency, and the confidence to serve customers across both digital and physical commerce.”

In FY2025, Fiuu processed a total payment volume of $13b, showcasing its capacity to handle high-volume digital payments. The collaboration with JCB, a major global payment brand with 181 million cardmembers, is expected to expand JCB acceptance across Fiuu’s merchant network, enhancing payment coverage in the region.

Shimpei Yamaguchi, Managing Director of JCB International Asia Pacific, expressed enthusiasm about the partnership, noting Fiuu’s regional expertise and fast-growing merchant network as key factors in expanding JCB acceptance. The planned expansion into Thailand reflects Fiuu’s ambition to solidify its role as a leading regional Card Scheme Acquirer, providing businesses with a unified payment partner across Southeast Asia.

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to strengthen cybersecurity cooperation and digital fraud protection. This agreement, signed during the 31st Executives’ Meeting of East Asia-Pacific Central Banks Governors’ Meeting in Singapore, aims to enhance the cyber resilience of both countries’ financial sectors.

The MoU outlines a framework for collaboration in three key areas: information sharing, competency-building, and operational preparedness. This includes exchanging regulatory updates, conducting joint training and study visits, and organising cross-border cybersecurity exercises. The initiative addresses the increasing sophistication of cyber threats and digital fraud risks in today’s interconnected financial ecosystem.

MAS Managing Director Chia Der Jiun emphasised the importance of this partnership, stating, “Cyber risks and digital fraud are key transnational threats confronting our region and calls for closer collaboration to combat these risks.” BOT Governor Vitai Ratanakorn echoed this sentiment, highlighting the need for seamless cross-border intelligence exchange to counter emerging threats.

This MoU marks a significant step towards creating a safe and resilient financial ecosystem, reflecting the shared commitment of MAS and BOT to safeguard trust in their financial systems. As cyber threats continue to evolve, this enhanced partnership is expected to play a crucial role in maintaining the integrity and security of financial operations in both countries.

Synagie has unveiled Geene 2.0, a Trusted AI Commerce Intelligence Ecosystem, designed to help businesses transition from isolated AI applications to a cohesive, scalable platform. Launched with twelve founding partners, including BytePlus and SingData, the platform was introduced to over 200 business leaders and guests.

Geene 2.0 combines capabilities in data, artificial intelligence, media, commerce, and blockchain into a single software-as-a-service platform. It enables businesses to analyse markets, strategise, generate content, automate operations, and verify products within one ecosystem. The platform will be available commercially from early August 2026.

The unveiling event featured a fireside chat with industry leaders, including Desmond Tan, Senior Minister of State in the Prime Minister’s Office, who emphasised the importance of trust in AI deployment. The platform’s ASSET intelligence engine orchestrates AI-driven commerce through five layers: Analyse, Strategise, Storytelling, Execute, and Trust.

Pei Gy Wong, Chief Digital Officer of Synagie, stated, “The next generation of AI will be led by those who can build the greatest trust.” Geene 2.0 aims to provide businesses with a practical pathway to adopt AI confidently and at scale.

The platform has already been deployed commercially with AGONG Durian, demonstrating its capabilities in improving operational efficiency and consumer confidence. Synagie is also collaborating with the Singapore Industrial and Services Employees’ Union to enhance AI readiness among workers.

As AI adoption accelerates, Synagie positions Geene 2.0 as a foundation for responsible enterprise AI innovation, aiming to make Singapore a leader in this field.

Hines, a global real estate investment manager, has identified a “scarcity advantage” in select developed Asian markets, including Tokyo, Seoul, Singapore, and Sydney, according to its 2026 Mid-Year Outlook. The report reveals that these markets are experiencing robust demand coupled with constrained future supply, creating favourable conditions for investors.

Tokyo’s office sector is highlighted as one of the strongest globally, with industrial fundamentals also improving as vacancy rates decline and rent growth accelerates. In Singapore and Sydney, necessity-led retail assets are thriving due to their strategic urban locations, limited new supply, and sustained demand, which are driving rental growth. Seoul’s living sector is also noted for its positive medium-term outlook, supported by wage growth, an increase in single-person households, and a tight housing supply, leading to above-inflation rental growth.

David Steinbach, Global Chief Investment Officer at Hines, emphasised the importance of local market dynamics over broad regional trends. “The strongest investment opportunities have become increasingly concentrated in markets where long-term demand remains durable but future supply is difficult to deliver,” he said.

The report suggests that higher construction costs, development risks, and financing costs are delaying new supply in many markets, further enhancing the scarcity advantage. As competition for well-located assets intensifies, Hines believes recognising this scarcity will be crucial for investors seeking durable returns.

CapitaLand Investment has released a new research report titled “APAC Flexible Living: Achieving Scalable Growth From Structural Demand,” which underscores the resilience and strategic importance of the living sector in the Asia-Pacific (APAC) region. The report highlights that whilst structural demand remains strong, the key differentiator for growth is now execution, focusing on entry strategy, asset management, and operational capabilities.

The living sector has emerged as APAC’s most resilient real estate category, recording investment volume growth of 51% during the COVID-19 pandemic and 18% during the global rate-hiking cycle. This growth is attributed to rental increases that have consistently outpaced inflation and interest rates, making it a compelling choice for income-oriented investors.

Demographic shifts, such as shrinking household sizes and increased urbanisation, are driving demand for rental housing across APAC. Government policies supporting immigration and labour mobility further bolster this demand, creating a favourable environment for institutional rental housing. However, the report stresses that excess returns will increasingly depend on how investors enter, operate, and scale their assets.

The report also notes the diversity within the APAC living sector, with each market offering unique risk-return profiles and entry strategies. For instance, Japan’s multifamily market relies on direct acquisition, whilst Australia’s purpose-built student accommodation (PBSA) and coliving sectors offer development and conversion opportunities. In Singapore, the coliving sector focuses on adaptive reuse, and Hong Kong’s PBSA is driven by policy reforms.

CapitaLand’s research emphasises that operational capability and scale are becoming core sources of alpha, with regional platforms enhancing sourcing, standardising design, and optimising operations. As the sector continues to mature, these factors will be crucial in delivering sustainable growth and long-term income resilience.