Industry News

Frasers Hospitality, a division of Frasers Property, has unveiled plans to launch 18 new serviced and hotel residences across Asia by 2028. This expansion is spearheaded by a new flagship Fraser Suites in Bangkok, scheduled to open in the fourth quarter of 2026. The move aims to strengthen the company’s focus on serviced living in the region, driven by increased cross-border mobility and evolving work-travel patterns.

The company has secured six new signings in Malaysia, Indonesia, Vietnam, China, and Japan, with two properties set to open this year. These include Capri by Fraser Penang and Fraser Residence Putrajaya in Malaysia, and Fraser Residence Hinode City in Hanoi, Vietnam. The expansion reflects Frasers Hospitality’s strategy to cater to the rising demand for longer-stay accommodations.

Chief Executive Officer of Frasers Hospitality, Eu Chin Fen, stated, “Our focus is on expanding Frasers Hospitality’s serviced living portfolio in a disciplined and deliberate way, prioritising markets and formats where demand for longer-stay accommodation is strengthening structurally.”

The new Fraser Suites Bangkok will introduce a refreshed brand with curated, experience-led programming. Located in a 45-storey tower in the heart of Bangkok, the 261-room property will offer contemporary Thai-inspired design and wellness offerings.

In China, Frasers Hospitality will expand into the premium rental segment with Modena by Fraser properties in Chengdu and Dalian. Meanwhile, Fraser Place Roppongi Tokyo will offer 120 serviced apartments in Japan’s cultural district.

These developments underscore Frasers Hospitality’s commitment to expanding its footprint in Asia, aligning with changing travel and work trends.

DHL Express has announced the appointment of Herbert Vongpusanachai as the Senior Vice President Commercial for Asia Pacific, effective 1 April 2026. Vongpusanachai, who has been with DHL since 2003, will be based in Singapore and is tasked with shaping the commercial strategy for the region.

Vongpusanachai brings over 20 years of leadership experience within DHL Express, having previously served as Managing Director for Thailand and Indochina. His tenure has been marked by consistent profitable growth and transformation of key markets. Ken Lee, CEO for Asia Pacific at DHL Express, praised Vongpusanachai’s “exceptional track record of delivering strong business results” and his ability to lead diverse teams.

In his new role, Vongpusanachai will focus on deepening customer engagement, supporting expansion, and driving sustainable volume growth. He will also work on advancing the adoption of new technologies to enhance commercial execution across markets. “I look forward to working alongside our talented teams to contribute to shaping the next chapter of DHL Express’s commercial success,” Vongpusanachai stated.

The appointment comes as Asia Pacific continues to be a crucial anchor in global trade, highlighted by the latest DHL Global Connectedness Report. The region’s growing importance in global commerce aligns with DHL Group’s strategy to support 20 markets globally, with eight in Asia Pacific. This leadership change aims to strengthen DHL Express’s position in the region as trade flows diversify and intra-Asia integration deepens.

The ongoing conflict in the Middle East has led to a significant rise in Brent crude oil prices, reaching as high as $118 per barrel. This surge is causing economic ripples across Asia, where approximately 90% of crude oil and 83% of liquefied natural gas (LNG) transiting through the Strait of Hormuz are destined. The conflict, which began with US and Israeli strikes on Iran on 28 February 2026, has resulted in widespread damage to production facilities, keeping energy prices elevated.

UOB Global Economics and Markets Research highlights that the sustained oil shock could increase ASEAN inflation by approximately 1 percentage point for every $10 increase in oil prices over a 6–12 month period, whilst trimming growth by about 0.7 percentage points. With oil prices at $100 per barrel, inflation could rise by 2 percentage points to around 4% in 2026, and growth could slow by 1.4 percentage points to approximately 3.2%.

Governments across Asia are implementing measures to mitigate the impact, including subsidies and temporary tax cuts on energy products. The Philippines has declared a national energy emergency, and Vietnam’s national carrier is reducing flight schedules. Despite these challenges, central banks are cautious about making drastic policy changes, as monetary tools are less effective against supply-side shocks.

The situation remains fluid, with potential for further escalation. UOB’s research suggests that if oil prices persist at $150 per barrel, inflation in ASEAN could rise by up to 7 percentage points, significantly impacting economic stability.

Worldpay, now part of Global Payments, has unveiled its 2026 Global Payments Report, revealing that the Asia-Pacific (APAC) region remains the global leader in digital wallet adoption. In 2025, digital wallets accounted for 77% of online spending, totalling $2.7t, and 63% of in-person spending, amounting to $6.3t, the highest shares globally. The report also highlights the rapid growth of account-to-account (A2A) payments across Southeast Asia, driven by robust national payment systems.The report underscores the transformative impact of digital wallets in countries like India and South Korea, where they are set to overtake traditional card payments by 2030. In Singapore, cards account for 44% of e-commerce ($10.8b) and 40% of POS ($55b) spend in 2025. Digital wallets follow closely at 40% ($10b) and 36% ($49b) respectively. In Hong Kong, digital wallets have surpassed cards as the leading payment method, marking a significant milestone.

Phil Pomford, General Manager of Global eCommerce for APAC at Global Payments, noted, “Asia’s payment landscape is evolving faster than anywhere else in the world.”

A2A payments are gaining traction, particularly in Thailand, where the government’s PromptPay system is a key driver. The popularity of QR code systems is further propelling A2A growth, offering a low-cost, intuitive payment method that is becoming increasingly interoperable across the region. In Singapore, the PayNow system is contributing to the rise of A2A payments, projected to account for 13% of e-commerce and 15% of point-of-sale transactions by 2030.

The report highlights the ongoing evolution of Asia’s payment landscape, with digital wallets and A2A payments reshaping consumer and business transactions. As these trends continue, they are expected to redefine cross-border trade and digital commerce in the region.

FTSE Russell has launched the FTSE Asia Pacific Liquid Government Bond Index Series, a new suite of benchmarks aimed at measuring the performance of liquid government bonds across the Asia-Pacific region. This initiative targets five key markets—India, Indonesia, Malaysia, Philippines, and Thailand—focusing on three, five, and 10-year tenors.

The index series is designed to bolster the development of exchange-traded and over-the-counter (OTC) risk-management tools. It provides a transparent and standardised foundation for potential derivatives and investment products linked to Asia Pacific government bond markets. Additionally, it will serve as the benchmark for the Asia Pacific Government Bond Futures to be listed on the Singapore Exchange (SGX), offering investors instruments to manage exposure across key maturities.

Scott Harman, Global Head of Fixed Income, Currencies and Commodities at FTSE Russell, emphasised the importance of the launch, stating, “Today’s launch underscores our commitment to providing transparent, robust benchmarks that meet the evolving needs of global investors.”

William Chin, Head of Rates, Derivatives at SGX Group, highlighted the significance of the new index series, noting that Asia’s government bond markets are becoming a core allocation in global fixed income portfolios. “The successful launch of the FTSE Asia Pacific Liquid Government Bond index series is a key building block in advancing the region’s capital markets,” he said.

The index excludes non-conventional bonds such as green, social, and sukuk bonds, focusing instead on the most recently issued or reopened bonds within each country and tenor sector. This approach ensures transparency and consistency in methodology, aligning with the broader FTSE Asia Pacific Government Bond Index.

Swisslog, a leader in automated intralogistics solutions, is bolstering its support for Southeast Asian customers through a revamped organisational structure for the Asia Pacific excluding China (APeC) region. This strategic move, announced on 31 March 2026, aims to enhance resource availability and integration across markets, including Australia and New Zealand.

The new structure will be led by Steven Xie, who has been appointed as Executive Vice President and Managing Director, based in Malaysia. Xie, who joined Swisslog in 2017, emphasised the growing demand for scalable automation solutions in response to e-commerce growth and labour constraints. “Bringing our markets closer together allows us to share engineering expertise, project experience, and innovation across borders,” Xie stated.

Swisslog’s Malaysia office, which hosts one of the company’s three global Research and Development teams, will play a pivotal role in this integration. The office’s expertise in software development and customer service will be shared across the Asia Pacific region, facilitating knowledge transfer and collaboration.

The company’s “Ready for the Next” strategy underscores its commitment to being a lifetime automation partner. This approach focuses on delivering resilient and scalable solutions that adapt to changing demands and fulfilment models. “Being Ready for the Next means staying accountable for the outcome long after go-live,” Xie explained.

Under the new APeC structure, Swisslog aims to provide enhanced access to engineering expertise, improved scalability for large projects, and stronger coordination across supply chains. This initiative reflects Swisslog’s dedication to supporting long-term growth strategies and building resilient automation strategies for its Southeast Asian customers.

RHB Bank’s Group Chief Economist, Barnabas Gan, has released a report detailing the impact of black swan risks on global and ASEAN economies. The report, dated 27 March 2026, indicates a shift in risk sentiment, with the RHB Risk Sentiment Index suggesting a return to risk-on attitudes. However, the report warns of significant challenges ahead, particularly for Singapore.

The report identifies Malaysia as the least negatively impacted economy in the ASEAN region. Malaysia’s dual role as both an importer of Middle Eastern crude oil and an oil producer with refining capabilities positions it to weather potential disruptions more effectively. “Malaysia’s economic outlook remains relatively resilient,” the report states.

Conversely, Singapore faces heightened risks due to its heavy reliance on energy imports. The report cautions that any escalation in global conflicts could severely affect Singapore’s economy. “An escalation of the conflict poses significant risks to global energy markets, with direct implications for Singapore’s highly import-dependent economy,” Gan notes.

Indonesia is expected to maintain stability, benefiting from its diversified energy sources. In contrast, Thailand may experience more pronounced effects due to its greater external dependencies and energy demands.

The report underscores the importance of monitoring geopolitical developments and their potential impacts on regional economies. As the situation evolves, the insights provided by RHB’s economists will be crucial for stakeholders navigating these uncertain times.

AppsFlyer’s latest State of Finance for Marketers in APAC 2026 report highlights a significant shift in the financial services sector, with a 17% decline in app installs across the Asia-Pacific region last year. The report, released on 26 March 2026, indicates that banks and fintech companies are adapting to a more complex market environment by focusing on user retention rather than acquisition.

The report reveals that user acquisition (UA) spending dropped by 27% as companies exercised tighter budget controls. Instead, there was a notable increase in remarketing efforts, particularly in Southeast Asia, where investment surged by 193%. This trend is most pronounced in Thailand, the Philippines, and Vietnam, reflecting a strategic pivot towards engaging existing users.

Ronen Mense, President and Managing Director of APAC at AppsFlyer, stated, “Financial services growth in APAC is evolving. Acquisition alone is no longer the differentiator. Institutions that will lead are those building strong measurement infrastructure and using trusted data to drive smarter decisions.”

Key insights from the report include a rise in Android Day-30 retention rates in Southeast Asia from 2.35% to 3.86%, and a record 16% share of installs for iOS, indicating a shift towards higher-value user segments. Indonesia emerged as a significant market, accounting for 39% of Android in-app revenue.

Despite a decline in fraud rates from 41% to 22%, approximately 20% of installs remain fraudulent, highlighting ongoing challenges in maintaining quality. The report also notes the increasing use of AI as a decision-support tool, rather than a replacement for strategic decision-making.

As financial institutions continue to navigate these changes, the focus on lifecycle performance and monetisation depth is expected to shape future growth strategies.

The Asia-Pacific Data Centre Association (APDCA) has introduced the Sustainable Digital Infrastructure Accord (SDIA), a pioneering initiative aimed at enhancing sustainability within the data centre industry across the Asia-Pacific region. Announced on International Data Centre Day, 26 March 2026, the SDIA establishes the first regional baseline for industry commitments, focusing on energy efficiency, clean energy use, water consumption, and the circular economy.

The SDIA is a voluntary, non-binding framework designed to complement existing national and regional regulations. It aims to foster collaboration between industry and government, providing a platform for ongoing dialogue. Jeremy Deutsch, Chair of APDCA, stated, “The SDIA demonstrates how the industry is ready to work together to ensure that digital transformation and sustainability go hand-in-hand in Asia-Pacific.”

The accord has already gained support from eleven major industry players, including Microsoft, Equinix, and Digital Realty. These signatories commit to achieving significant sustainability targets, such as 100% carbon-free energy by 2030 and improved water management practices.

Anuar Fariz Fadzil, CEO of Malaysia Digital Economy Corporation, highlighted the importance of the initiative, noting its alignment with Malaysia’s goal of becoming an AI Nation by 2030. Similarly, Aileen Chia, Deputy Chief Executive of Singapore’s Infocomm Media Development Authority, praised the accord for guiding sustainable development in data centres.

The SDIA is expected to evolve over time, with its targets and commitments regularly reviewed to ensure continuous improvement in sustainability practices across the region.

Asia Pacific’s technology spending is projected to increase by 9.3% in 2026, reaching over $437b between 2025 and 2030, according to Forrester’s latest forecast. This growth is driven by investments in software, services, communications equipment, and tech outsourcing. However, escalating costs and regulatory challenges are expected to dampen the real impact of these investments.

Computer equipment is anticipated to experience the strongest growth at 13.7%, fuelled by hyperscalers’ investments in AI-optimised data centres and rising hardware prices due to global component shortages. Software spending is set to grow by 10.7%, with the adoption of AI-enhanced capabilities accelerating.

Country-specific projections reveal varied growth rates. Australia’s tech spending is expected to rise by 8.6%, reaching nearly $70b (A$110b) in 2026, despite software prices increasing at five times the rate of general inflation. In China, tech spending is forecasted to grow by 10.7%, driven by significant AI infrastructure investments from Alibaba and ByteDance, although traditional enterprise IT spending may slow due to weak domestic demand.

India, the fastest-growing market in the region, is projected to see a 13.4% increase in tech spending, propelled by cloud adoption and data localisation rules. Singapore’s growth is pegged at 6%, hindered by a talent shortage in AI development.

Southeast Asia is also expected to see robust growth, with Vietnam leading at 15.4%, followed by Indonesia at 12.5%, and the Philippines at 12.3%. The region’s digital economy is shifting from user acquisition to monetisation, with digital services income reaching $11b in 2024.

Frederic Giron, Forrester’s VP and senior research director, noted that whilst the region’s tech spending momentum remains strong, challenges such as software inflation, hardware volatility, and regulatory divergence pose significant hurdles. He advised CIOs to focus on targeted investments in automation and AI-enhanced platforms to navigate these challenges effectively.