Regional News

Airwallex, a prominent global financial platform, has achieved a remarkable feat by winning three awards at the Asia FinTech Awards 2025. The company was recognised with the titles of Banking Tech of the Year, Best Employer of the Year, and Director of the Year, awarded to Arnold Chan, General Manager, Asia. This accomplishment highlights Airwallex’s leadership and innovation in the fintech sector.

The Asia FinTech Awards, one of the region’s most prestigious recognitions, saw hundreds of companies vying for accolades. Airwallex’s triple win underscores its commitment to excellence as it approaches its 10th anniversary. Lucy Liu, Co-founder and President of Airwallex, expressed that the recognition across three categories validates the company’s efforts in building a platform that advances global banking through technology whilst nurturing industry leaders.

Arnold Chan, who was named Director of the Year, attributed the award to the dedication of Airwallex’s teams, who consistently deliver impactful results for customers across the Asia-Pacific region. Richard Yan, Vice President of People & Talent, noted that being named Best Employer of the Year during their anniversary year is particularly meaningful, celebrating the global success stories within the company.

The Banking Tech of the Year award highlights Airwallex’s innovative solutions that allow businesses to manage accounts and financial services efficiently and securely without borders. The judges praised Airwallex for providing solutions that eliminate the need for foreign accounts to manage multi-currency balances, proving its effectiveness through customer testimonials.

As Airwallex continues to expand its influence in the fintech industry, these awards reflect its ongoing commitment to shaping the future of global banking.
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Investment in Asia Pacific hotels reached $4.7 billion in the first half of 2025, marking a 23% decline from the same period in 2024, according to JLL. The decrease reflects a more cautious investment environment amid global economic uncertainties. Japan led the region with $1.5 billion in transactions, followed by Greater China, Australia, Singapore, and South Korea.

The decline in investment volume is attributed to a shift towards more established hospitality markets, with 84% of transactions occurring in these five countries. Nihat Ercan, CEO of JLL Hotels & Hospitality Group, Asia Pacific, noted, “The level of investment moderation is indicative of a more cautious investment market whereby a realignment of capital sources in the hotel investment landscape is occurring.”

Private equity firms have increased their capital allocations to hospitality assets by 6% year-over-year, aiming to capitalise on market dislocations. High Net Worth Individuals (HNWIs) have also become more active, with their hotel investments growing by 54% compared to last year.

Despite the decline, the long-term outlook for the region’s hospitality industry remains positive. International tourist arrivals in Asia Pacific rose by 12% in Q1 2025, boosting revenue per available room (RevPAR). Key cities like Tokyo and Sydney reported strong occupancy rates and average daily rates (ADR) above pre-pandemic levels.

JLL projects total hotel transaction volume in Asia Pacific to reach $12.8 billion for the full year 2025, a 5% increase from 2024. The second half of the year is expected to see accelerated investment activity as pending deals are finalised.
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Starhill Global REIT, a mid-cap real estate investment trust, is projected to see a 10% upside in its stock value, according to an RHB note. The trust, which has a significant 70% exposure to the Singapore market, is expected to benefit from declining domestic interest rates and economic recovery. Recent strategic divestments have bolstered its balance sheet, whilst extensions of key master leases have enhanced its earnings profile. The stock is currently valued at 0.75 times its forecasted book value for the financial year 2026.

The trust’s stable distribution per unit (DPU) in recent years, despite market challenges, highlights its resilience. Analyst Vijay Natarajan has maintained a “BUY” recommendation, raising the target price from SGD0.55 to SGD0.60. This adjustment reflects the trust’s potential to capitalise on favourable market conditions and its strengthened financial position.

The trust’s focus on Singapore positions it well to leverage the country’s economic recovery. The recent divestments and lease extensions are seen as strategic moves to ensure long-term growth and stability. As the market anticipates further economic improvements, Starhill Global REIT’s attractive valuation and yield make it a compelling investment opportunity.

Looking ahead, the trust’s ability to navigate market fluctuations and maintain its earnings trajectory will be crucial. Investors are advised to consider the trust’s strategic positioning and financial health when evaluating its potential for future growth.
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FairPrice Group, Singapore’s largest retailer, has announced an expanded collaboration with Google Cloud to introduce agentic AI solutions aimed at transforming retail experiences. As part of its Store of Tomorrow programme, FairPrice Group will deploy a suite of AI assistants at its newly opened FairPrice Finest outlet in Punggol Digital District. These innovations are designed to empower customers to shop smarter and enhance operational efficiency for employees.

The initiative includes the launch of three in-store AI assistants, each underpinned by multi-agent systems. The multimodal shopping assistant, integrated into FairPrice Group’s Smart Carts, offers personalised product recommendations. A wellness assistant provides tailored lifestyle advice and meal plans, whilst a digital wine sommelier aids in wine selection based on customer preferences.

For employees, FairPrice Group is utilising Google Agentspace, a platform that allows the creation and management of AI agents. This includes an agentic intranet search to streamline information retrieval and an Agent Gallery for accessing or creating AI agents to automate tasks. A custom creative agent has also been developed to significantly reduce the time and cost of creating promotional materials.

Vipul Chawla, Group CEO of FairPrice Group, stated, “The new AI-powered tools, from the smart shopping assistant to the personalized wellness assistant, are designed to make a shopper’s journey more seamless and intuitive,” Thomas Kurian, CEO of Google Cloud, added, “FPG’s use of these technologies—extending from the storefront to the back office—is an incredible example of how AI is driving innovation across every customer touchpoint and corner of the enterprise.”

The enhanced Smart Carts, featuring conversational capabilities, will be rolled out to FairPrice Finest Thomson Plaza later this year, further elevating the shopping experience.
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A recent poll by Prudential Singapore highlights a stark contrast in retirement readiness among Singapore’s generations. The SG60 Financial Future Poll, surveying 1,000 residents aged 17 to 76, found that whilst half of Gen Zs are optimistic about retiring well, 72% have no retirement plan in place. This optimism surpasses that of Millennials (45%) and Gen Xs (38%).

Gen Zs, aged 16 to 28, are focused on building multiple income streams and embracing flexible work arrangements, such as remote work and “micro-retirements.” Despite their confidence, many prefer to prioritise income growth before formalising retirement plans. Jeff Ang, CEO of Prudential Financial Advisers Singapore, emphasised the importance of early financial planning, stating, “Optimism and hustle are great, and when paired with financial planning, they will set you up for long-term success.”

In contrast, Baby Boomers, aged 55 and above, expressed regret over delayed financial planning. Nearly all Baby Boomers surveyed wished they had started planning 12 years earlier, at age 28 rather than 40. Their top regrets include not establishing financial habits sooner and missing earlier retirement opportunities.

The poll also revealed that Singaporeans across all age groups are concerned about the high cost of living, healthcare expenses, and insufficient income growth. CPF and bank savings emerged as the primary retirement funding sources, supplemented by stocks, bonds, and insurance policies.

As Singaporeans navigate these financial challenges, the poll underscores the need for a diversified wealth portfolio to ensure a secure retirement.
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The Singapore Business Federation’s (SBF) National Business Survey 2025 – Manpower and Wages Edition reveals a weakening business sentiment among Singaporean companies. The survey indicates that 35% of businesses expect conditions to worsen over the next 12 months, compared to only 14% anticipating improvement. The Business Sentiment Index (BSI) fell by 1.1 points from 56.5 in Q1 2025 to 55.4 in Q2 2025.

The survey highlights several key challenges. The impact of US tariff changes, whilst easing, still negatively affects 59% of businesses. Hiring plans have softened, with only 36% of companies intending to expand their full-time workforce in the coming year, a decrease from 40% in 2024. Larger companies remain more optimistic than small and medium enterprises (SMEs).

Wage growth is also expected to slow, with 59% of businesses planning salary increases, down from 64% in 2024. The proportion of companies intending to freeze wages has risen to 41%, primarily among SMEs. However, 66% of businesses plan to raise wages for lower-wage workers, aligning with the National Wages Council’s recommendations.

Talent development poses a significant challenge, with 47% of businesses citing upskilling and reskilling as concerns, nearly doubling from 25% in 2024. Rising manpower costs remain a top issue, although the proportion of businesses citing this has decreased from 75% to 65%.

The survey also notes that businesses welcome the removal of the maximum employment period for foreign workers, though increases in S pass qualifying salaries are a concern. Companies are adjusting their strategies, including expanding local recruitment and increasing wages to attract local talent.

As Singapore businesses navigate these challenges, the survey underscores the need for strategic adjustments in workforce management and policy adaptation to maintain competitiveness in a fluctuating economic landscape.
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Alo Yoga, the globally acclaimed fashion and lifestyle brand, has launched its first store in Singapore at the iconic Marina Bay Sands. This marks a significant step in Alo’s expansion across Asia, following the opening of its flagship store in Seoul in July 2025. The Singapore store, spanning 3,030 square feet, is designed with Alo’s signature modern minimalism, featuring warm oak finishes, ambient lighting, and curated greenery to create a serene urban sanctuary.

The Marina Bay Sands location offers a comprehensive range of men’s, women’s, and unisex apparel, accessories, and footwear. Notably, the store introduces Alo’s complete Wellness System, a collection of clean beauty formulas for skin, face, and hair, exclusive to the Asia market. This addition aims to enhance the modern wellness journey for customers.

Founded in Los Angeles, Alo Yoga has garnered a global following with its studio-to-street performance wear, blending technical excellence with contemporary fashion. The brand is popular among wellness enthusiasts and celebrities, offering a curated collection of elevated performance and lifestyle apparel designed to inspire mindful movement and modern living.
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CapitaLand Ascott Trust (CLAS) has announced the acquisition of three freehold rental housing properties in Japan for JPY4b($34.2m). The properties, located in Osaka and Kyoto, are expected to bolster CLAS’ stable income stream and portfolio resilience. This strategic move aligns with CLAS’ portfolio reconstitution strategy, funded by the divestment of Citadines Karasuma-Gojo Kyoto and JPY-denominated debt.

The acquisition is projected to yield a net operating income (NOI) entry yield of 4% in FY 2025, significantly higher than the 0.4% NOI exit yield from the divested property. Serena Teo, CEO of CapitaLand Ascott Trust Management Limited, stated, “The acquisition demonstrates CLAS’ ability to reconstitute our portfolio by redeploying divestment proceeds into higher-yielding assets, further enhancing CLAS’ portfolio and the quality of our earnings.”

The properties, built about five years ago, boast an average occupancy rate of 97% and are located in prime areas with expanding economic opportunities. Post-acquisition, CLAS’ Japanese properties will account for 17.7% of its total portfolio value, enabling the trust to capitalise on Japan’s strong lodging demand whilst maintaining a geographically diverse portfolio.

CLAS aims to increase its allocation towards living sector assets to 25% to 30% in the medium term. The acquisition follows CLAS’ earlier purchase of two hotels in Tokyo and Kanazawa, positioning the trust to benefit from growing travel demand.
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Climate Bridge International (CBI), headquartered in Singapore, and the Rwanda Development Board (RDB) have signed a Memorandum of Understanding (MoU) to advance carbon market development in Rwanda. This collaboration aims to mobilise private finance and knowledge sharing to support Rwanda’s climate and development goals, building on the Rwanda–Singapore Article 6.2 Implementation Agreement signed in May 2025.

The partnership will focus on developing a pipeline of Article 6-aligned carbon credit projects, enhancing Rwanda’s policy and regulatory frameworks for carbon market participation. Alvin Lim, CEO of CBI, stated, “This MoU comes at exactly the right time, as Rwanda and Singapore move to operationalise their Article 6.2 agreement. Together with the Rwanda Development Board, we will build a pipeline of high-integrity, investable projects and provide international market access for local opportunities.”

Michelle Urumungi, Chief Investment Officer at RDB, emphasised Rwanda’s commitment to a low-carbon, climate-resilient economy. She noted, “Through our collaboration with Climate Bridge International, we look forward to attracting new investments, building local capacity, and accelerating progress towards our national climate and development goals.”

Over the next year, CBI and RDB will work to expand Rwanda’s pipeline of investable carbon projects, facilitating exchanges with local companies to strengthen market readiness. The partnership will also support government institutions through capacity-building and policy development, establishing a robust framework for carbon markets.

Both organisations anticipate strong demand for high-integrity, Article 6-aligned credits from governments, compliance buyers, and corporates seeking solutions that deliver measurable climate and community benefits.
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Xtend, a prominent commerce media platform, has introduced a new marketplace-first ecommerce solution aimed at boosting brand visibility and conversions across Southeast Asia’s leading marketplaces, including Shopee and Lazada. This innovative solution, announced on 27 August 2025, is designed to address the challenges faced by brands in the region’s ecommerce and performance marketing landscape by enhancing in-platform visibility and connecting with high-intent shoppers.

The Southeast Asia ecommerce market is projected to grow at a compound annual growth rate of 8.79% from 2025 to 2029, reaching an estimated market volume of $187.16 billion by 2029. Despite the dominance of Meta and Google in digital ad budgets, rising costs and audience saturation are limiting returns. Xtend’s solution is tailored for this environment, aligning with category behaviour and user intent patterns unique to each platform.

The solution offers several capabilities, including SHOPit Brand Discovery, which drives traffic to brand pages, and commerce-backed inventory that integrates dynamic listings and brand showcases. It also provides marketplace measurement for end-to-end attribution and leverages first-party data for actionable commerce signals. A performance-based model aligns pricing with results, offering a low-risk option for major campaigns. The solution’s effectiveness was demonstrated in a recent campaign with Unilever in Indonesia, achieving a positive Return on Ad Spend (ROAS).

Showcased at the Shopee Super Summit in Indonesia, Xtend’s solution was presented as a tool to help brands grow within and beyond marketplace advertising. Muralidharan, Chief Commercial Officer at Xtend, stated, “By leveraging real shopping behaviour data, we designed this solution to help brands build stronger influence within the platform ecosystem and translate it into sustainable business growth.”
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