Regional News

Blackpanda has been awarded the Frost & Sullivan 2025 Company of the Year for Incident Response Excellence in Asia-Pacific for the second year running. This accolade recognises the firm’s innovative approach to cyber emergency response amidst a surge in cyberattacks across the region. Blackpanda’s IR1 subscription, which offers fixed-cost, service-level agreement-backed incident response, has seen triple-digit growth since its launch in 2023, making expert cyber assistance more accessible to small and medium enterprises (SMEs).

Traditional incident response services, costing between $25,000 and $100,000 per incident, often exclude SMEs from accessing necessary support. Blackpanda’s IR-1 subscription addresses this gap by providing 24/7 expert response, continuous vulnerability scanning, and embedded cyber insurance through a unified software-as-a-service (SaaS) platform. Founder and CEO Gene Yu stated, “IR-1 is making digital emergency response as accessible as roadside assistance, protecting businesses across Asia that were previously left defenceless.”

The company’s Assurance-to-Insurance (A2I) approach integrates immediate response with financial protection, eliminating silos between responders, insurers, and forensic providers. This model allows for faster containment, reduced premiums, and the elimination of incident response deductibles. Blackpanda’s strategy includes embedding IR1 subscriptions into telecommunications packages and enterprise hardware, extending protection to consumers and SMEs through trusted regional providers.

With strategic hubs in Singapore, Tokyo, Hong Kong, and Manila, Blackpanda is committed to making cyber emergency response an essential safeguard for businesses across Asia. As Yu added, “Our second consecutive award validates that subscription-based, partner-driven democratisation is the future of cyber resilience in Asia.”
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Ascentium, a global business services platform based in Singapore, has announced the acquisition of ZICO Holdings’ corporate services division, marking a significant expansion in Southeast Asia. This strategic move, revealed on 21 August 2025, includes operations in Singapore, Malaysia, the Philippines, and the introduction of services in Labuan. The acquisition aims to integrate ZICO’s expertise in corporate secretarial services, trust administration, and regulatory compliance into Ascentium’s existing framework.

The acquisition is set to enhance Ascentium’s service offerings across multiple markets, providing clients with a broader range of corporate and fiduciary solutions. This development follows Ascentium’s 2024 acquisition of InCorp Global, which is transitioning to the Ascentium brand by 2026. The company continues to focus on delivering technology-enabled business services across the Asia-Pacific region.

Lennard Yong, Group CEO of Ascentium, stated, “The acquisition marks an important advance in our Southeast Asia growth strategy and represents a crucial milestone towards building a leadership team with unmatched regional expertise.” Datuk Kelvin Ng, CEO of ZICO Holdings, expressed confidence in the transition, highlighting the potential for new opportunities under Ascentium’s leadership.

This acquisition underscores Ascentium’s commitment to expanding its footprint in Asia-Pacific, following previous acquisitions of Links International and Harneys Fiduciary. The integration of ZICO’s services is expected to bolster Ascentium’s position as a leader in corporate services, finance, and trust solutions across the region.
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Knight Frank Malaysia and Knight Frank Singapore have launched a pivotal research paper on the Johor-Singapore Special Economic Zone (JS-SEZ) during the ‘Bridging Growth Across Borders’ event. The gathering, held on 21 August at Amari Hotel Johor Bahru, attracted over 200 government leaders, industry players, and investors, marking a significant step in the cross-border economic collaboration between Malaysia and Singapore.

The event featured a keynote by the Chief Executive of the Iskandar Regional Development Authority, Dato’ Haji Mohd. Noorazam, and a joint presentation by Amy Wong, Executive Director of Research & Consultancy at Knight Frank Malaysia, and Leonard Tay, Head of Research at Knight Frank Singapore. A panel discussion explored how the JS-SEZ can facilitate smarter cross-border business, with insights from industry leaders including Jimmy Koh of United Overseas Bank Limited and Law Chung Ming of the Singapore Logistics Association.

The JS-SEZ, signed into agreement in January, aims to boost trade, investment, and talent flow between Johor and Singapore. Knight Frank’s research paper highlights the zone’s potential to attract high-value industries through competitive real estate costs and enhanced infrastructure. In the first quarter of 2025, Johor secured RM30.1 billion in investments, with 89% from foreign investors.

Amy Wong noted, “This research brief provides an investment outlook and showcases how Johor’s scale and workforce complement Singapore’s capital and global connectivity.” Leonard Tay added, “With space and cost pressures in Singapore, the JS-SEZ offers businesses room to grow whilst staying connected to their headquarters and markets.”

Knight Frank continues to support investors and developers navigating the JS-SEZ, offering services such as strategic land sourcing and cross-border advisory. The full research paper is available for download on Knight Frank’s website.
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Palo Alto Networks has announced two innovative security solutions designed to help enterprises navigate the evolving quantum computing landscape. These solutions aim to provide businesses with enhanced visibility, agility, and defences to secure workloads across multicloud and AI environments. The announcement was made on 21 August 2025, highlighting the company’s commitment to addressing the growing risks posed by quantum computing and AI.

The new offerings include the Quantum Readiness Dashboard, which provides complete visibility and control over cryptographic risk posture, and the industry’s first cipher translation, enabling applications to be upgraded to quantum-safe encryption. Additionally, Palo Alto Networks has introduced 14 new 5th-generation Next-Generation Firewall models, optimised for post-quantum cryptography processing.

Anand Oswal, Senior Vice President and General Manager of Network Security at Palo Alto Networks, stated, “The quantum threat to encryption is no longer theoretical; it’s an inevitability that demands action now.” This sentiment underscores the urgency for enterprises to adopt quantum-ready solutions.

The company also unveiled advanced multi-cloud and AI network security capabilities, including continuous risk assessment for cloud and AI assets and automatic deployment of security measures. These innovations are part of the PAN-OS 12.1 Orion software upgrade, which aims to streamline operations and eliminate security blind spots.

The announcement has been well-received by industry leaders, with Pete Finalle from IDC noting the importance of ‘crypto agility’ in addressing quantum threats. As organisations continue to expand their digital infrastructures, Palo Alto Networks’ latest solutions offer a robust defence against emerging cybersecurity challenges.
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Carro, Asia Pacific’s largest online used car platform, has entered a strategic partnership with Hong Kong-listed SY Holdings to bolster its expansion plans using technology-driven financing solutions. The collaboration, formalised through a Memorandum of Understanding, will see SY Holdings provide cross-border financing solutions powered by artificial intelligence (AI) predictive analytics and secure API-based integration.

The partnership aims to optimise efficiency, accelerate funding cycles, and enhance scalability whilst maintaining governance and compliance. Aaron Tan, co-founder and CEO of Carro, expressed enthusiasm about the collaboration, stating, “We’re excited to work with new partners like SY Holdings that can move quickly together with us as we expand into even more markets.”

SY Holdings, a digital intelligence technology company, will leverage Carro’s expertise in New Energy Vehicles (NEV) across the Asia Pacific. Kenny Ng, Head of International Partnerships at SY Holdings, noted, “This partnership will see us working closely to integrate systems that will handle dealership procurement and settlement cases within the NEV space.”

Carro, founded in 2015, has grown into a comprehensive automotive marketplace, offering services such as Carro Care, Genie Financing Services, and Coverro insurance. The company recently expanded its product line to include brand new cars in Singapore and Malaysia. Headquartered in Singapore, Carro has raised over $700 million and recorded a positive EBITDA of $43m in FY2024.

SY Holdings, recognised by CNBC and Forbes as a leading global fintech innovator, has facilitated financing services exceeding $38b for over 19,000 SMEs as of June 2025. The partnership with Carro is expected to further advance digital transformation and inclusive growth for SMEs worldwide.
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Ascentium, a global business services platform based in Singapore, has announced the acquisition of ZICO Holdings, a corporate services provider operating across key ASEAN markets. This strategic move, revealed on 21 August 2025, strengthens Ascentium’s footprint in Singapore, Malaysia, and the Philippines, whilst also marking its entry into the Labuan market. The acquisition integrates ZICO’s corporate services and trust services into Ascentium’s operations, enhancing its offerings in corporate secretarial services, trust administration, and regulatory compliance.

The acquisition builds on Ascentium’s previous expansion efforts, including its 2024 acquisition of InCorp Global, which is set to complete its brand transition by 2026. Ascentium’s Group CEO, Lennard Yong, highlighted the significance of this acquisition in advancing the company’s Southeast Asia growth strategy. “The acquisition marks an important advance in our Southeast Asia growth strategy and represents a crucial milestone towards building a leadership team with unmatched regional expertise,” Yong stated.

ZICO Holdings’ Group CEO, Datuk Kelvin Ng, expressed confidence in the transition, noting the strong reputation ZICO’s teams have built over the years. “We are confident that Ascentium’s leadership platform and global reach will enable our colleagues and valued clients to access new opportunities and enhanced solutions,” Ng said.

This acquisition underscores Ascentium’s commitment to delivering comprehensive, technology-enabled business services across the Asia-Pacific region and beyond, as it continues to expand its suite of corporate services.
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BOSS Fragrances has launched BOSS Bottled Beyond, a new premium Eau de Parfum that combines ginger and leather to create a distinctive scent. This innovative fragrance, available from 21 August 2025, marks a departure from traditional olfactory structures by blending its key ingredients throughout the scent’s lifecycle. The fragrance is available in 50ml and 100ml sizes at major retailers like Sephora and BHG.

BOSS Bottled Beyond is a continuation of the brand’s legacy, which began with the launch of the first men’s gourmand fragrance in 1998. The new scent reflects the evolving concept of success, now encompassing both personal achievements and the celebration of peers. The campaign features global ambassadors Bradley Cooper, Maluma, and Vinicius Junior, who embody the spirit of brotherhood and inspiration.

The fragrance’s composition is crafted with high-quality ingredients and advanced technology. The ginger component, extracted using CO₂ Extraction technology, offers a fresh and spicy dimension, whilst the leather adds warmth and refinement. The formula’s high concentration ensures a long-lasting scent, enhanced by a patented sugar-derived fixative.

The design of BOSS Bottled Beyond is equally striking, featuring a black lacquered bottle with a leather-touch trim and gunmetal-grey cap. The Double B monogram symbolises the fragrance’s duality and balance. The creation of this scent involved collaboration among three principal perfumers, each contributing their expertise to push the boundaries of traditional perfumery.
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Citi has introduced its Real-Time Funding (RTF) capabilities for corporate clients in Singapore, enhancing its suite of real-time liquidity solutions. This service, already operational in Australia, Hong Kong SAR, and the UK, automates the movement of funds across borders based on client-defined rules, ensuring cash availability when needed. In the first half of 2025, Citi RTF processed over 150 transactions for four clients across three currencies: AUD, EUR, and HKD.

The launch in Singapore provides clients with unprecedented control over their cash, enabling instant, round-the-clock cross-border liquidity transfers. This eliminates the need for manual fund transfers or reliance on end-of-day sweeps. Rupa Mankad, Citi’s Asia South and Singapore Head of Liquidity Management Services, stated, “This launch empowers businesses with continuous access to their funds, offering greater efficiency, improved working capital management, and stronger control over their financial positions across borders.”

Citi’s RTF is designed to optimise liquidity and automate traditionally manual processes, supporting 24/7 account monitoring and complex cash forecasting. Key features include seamless intercompany transfers, overcoming time zone limitations, and enhanced cross-border capabilities for efficient liquidity management across multiple jurisdictions.

This expansion underscores Citi’s leadership in real-time liquidity solutions, complementing offerings like Real-Time Liquidity Sharing and Real-Time Multi-Banking. The move is part of Citi’s strategy to grow its real-time liquidity offerings with new products and expanded reach.
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DBS has announced the tokenisation of structured notes on the Ethereum public blockchain, making them available to eligible investors through digital platforms such as ADDX, DigiFT, and HydraX. This initiative marks DBS’s first token distribution of crypto-linked structured notes, allowing non-DBS clients to access these assets via the bank’s digital ecosystem. The move addresses the increasing demand for digital assets, with DBS clients trading over $1 billion in crypto options and structured notes in the first half of 2025.

The tokenisation process transforms structured notes, traditionally requiring a minimum investment of $100,000, into more accessible $1,000 tokens. This makes them fungible and easier to trade, offering investors greater flexibility in portfolio management. The initiative is particularly timely as Singapore continues to grow as a wealth management hub, with the number of single family offices exceeding 2,000 in 2024.

DBS’s first tokenised product is a cash-settled cryptocurrency-linked participation note, which provides investors with a cash payout when cryptocurrency prices rise, whilst mitigating potential losses if prices fall. This product is part of DBS’s broader strategy to offer advanced investment strategies and expand access to a wide range of asset classes, including equity-linked and credit-linked notes.

Li Zhen, Head of Foreign Exchange and Digital Assets at DBS, stated, “Asset tokenisation is the next frontier of financial markets infrastructure. By leveraging DBS’s strong credit ratings, partnerships, and capabilities, more investors can now tap our solutions to better manage their portfolios.”

The bank’s initiative is set to broaden access to sophisticated financial instruments, catering to the growing institutional appetite for digital assets.
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OrangeTee, a leading Singaporean proptech real estate agency, has announced a strategic partnership with Tokyu Livable Inc., a prominent Japanese real estate consultancy, to bring curated property investment opportunities in Japan to Singaporean investors. This collaboration aims to provide comprehensive support, including property tours, personalised consultations, and market insights, to help clients navigate the Japanese real estate market.

The partnership, which began in 2014, has facilitated significant transactions for institutional and high-net-worth clients. Now elevated to the Group level, it reflects Realion Group’s broader regional strategy, with OrangeTee playing a key role in delivering integrated, cross-border solutions. Investors will gain access to Tokyu Livable’s exclusive portfolio, including premium flats and newly built condominiums.

Steven Tan, Director of OrangeTee International, highlighted Japan’s appeal as an investment destination, citing stable yields and growing demand for quality residential units. “This partnership enables us to offer Singapore-based investors exclusive access to Tokyu Livable’s highly curated portfolio,” he said.

Yasuaki Nagasaka, Manager of Overseas Sales at Tokyu Livable, expressed excitement about the collaboration, noting that it offers Singaporean investors a unique opportunity to expand their portfolios internationally.

This expansion aligns with Realion Group’s ambition to deliver cross-border real estate solutions across Asia. Justin Quek, CEO of OrangeTee, stated, “Japan is a key market in our growth strategy, and deepening ties with Tokyu Livable strengthens our capabilities.”

To launch this initiative, OrangeTee will host an investor seminar on 24 August 2025 at their Singapore headquarters, providing further insights into the Japanese market.
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