Regional News

StraitsX, a leader in stablecoin-native settlement and a major payment institution licensed by the Monetary Authority of Singapore, has announced a significant expansion across Asia, bolstered by a strategic US$10m investment from UQPAY, a prominent cross-border payment solutions provider, and ongoing support from NTT DOCOMO, Japan’s leading mobile and digital services company. This move aims to strengthen StraitsX’s position as a global leader in regulated digital payments by leveraging stablecoin infrastructure to enhance cross-border payment connectivity.

The partnership with UQPAY and DOCOMO highlights the increasing integration of Web3 innovation with institutional finance, allowing StraitsX to expand its presence in major Asian markets. Key initiatives include the development of enterprise-grade APIs for seamless stablecoin and fiat currency transactions, the issuance of virtual and physical cards through partnerships with RedotPay and VISA, and the scaling of cross-border payment corridors to reduce transaction costs and friction.

Tianwei Liu, CEO of StraitsX, stated, “This marks the start of a new growth chapter for StraitsX. With the latest support from UQPAY, we’re expanding our foundation across Asia to deepen cross-border connectivity and enable enterprises to move value seamlessly in a trusted and compliant way.”

Jack Li, CEO of UQPAY, expressed enthusiasm for the partnership, noting its potential to create seamless, compliant, and borderless payment experiences. This collaboration aims to establish stablecoins as a regulated and interoperable infrastructure across global markets, paving the way for a unified financial network that supports a trusted global standard for value exchange.

Megan Hughes has been appointed as the Managing Director and Vice President of Sales for HubSpot in the Japan, Asia Pacific, and India (JAPAC) region. Based in Sydney, Hughes will oversee business growth, sales strategy, and operations across key markets including Singapore, Japan, India, Australia, and New Zealand. Her appointment comes as the global customer relationship management (CRM) industry is projected to surpass $163 billion by 2030, with Asia Pacific identified as the fastest-growing market.

Hughes brings over 25 years of experience in the technology sector, having previously served as HubSpot’s ANZ Country Lead and Senior Director of Sales. During her tenure, she led the establishment of HubSpot’s first data centre in Australia and secured a major partnership with the TCS Sydney Marathon. Her leadership has been instrumental in supporting thousands of customers, including MYOB, HungryHungry, and Global Schools Foundation.

David Cohen, Chief Sales Officer at HubSpot, praised Hughes’ impact, stating, “Over the past four years, Megan has transformed our ANZ business, building a customer-first culture where teams deliver real impact.” Hughes’ focus will be on addressing growth challenges such as technology integration, which HubSpot research highlights as a significant barrier for businesses.

Hughes expressed her enthusiasm for the new role, saying, “This role represents the perfect intersection of my passion for developing high-performing teams and creating real impact for the customers we serve through technology.” Her immediate focus will be on leveraging HubSpot’s AI-powered platform to enhance customer interactions and drive growth across the region.

Astern Technologies has launched AI BESS 360, Malaysia’s first AI-enabled home energy solution, at an event on 21 October 2025. The innovative system combines solar panels, a hybrid inverter, battery storage, and an intelligent management platform to help homeowners reduce energy costs, manage power usage, and provide backup during outages.

The AI BESS 360 is a significant step in line with Malaysia’s National Energy Transition Roadmap, aiming to promote sustainable and energy-independent living. Astern Technologies, a leader in clean-energy solutions, specialises in rooftop solar photovoltaic (PV) systems and AI-enabled battery storage, reinforcing its commitment to advancing the nation’s energy transition.

According to Leng Rong Chen, Managing Director of Astern Technologies, the AI BESS 360 empowers homeowners by offering a comprehensive solution that not only cuts down on energy bills but also ensures a reliable power supply during outages. This launch marks a pivotal moment in Malaysia’s journey towards sustainable energy solutions.

The AI BESS 360’s intelligent management platform allows users to optimise their energy consumption, making it a practical choice for those looking to embrace clean energy. As Malaysia continues to push for greener energy solutions, the introduction of AI BESS 360 is expected to play a crucial role in shaping the future of home energy management.

Astern Technologies’ latest offering underscores its dedication to fostering a sustainable energy landscape in Malaysia, paving the way for more innovative solutions in the future.

COSCO SHIPPING International (Singapore) Co., Ltd has announced the signing of framework agreements with Shenzhen Ocean Shipping Co., Ltd. The agreements, disclosed on 21 October 2025, focus on providing ship repair services and procuring ship materials, marking a significant collaboration between the two companies.

The agreements aim to streamline operations and enhance service delivery in the maritime sector. By partnering with Shenzhen Ocean Shipping, COSCO SHIPPING seeks to leverage synergies in ship repair and material procurement, potentially reducing costs and improving efficiency.

This collaboration is expected to bolster COSCO SHIPPING’s operational capabilities, aligning with its strategic goals to expand its service offerings and strengthen its market position. The agreements underscore the company’s commitment to enhancing its service portfolio and maintaining high standards in maritime operations.

A recent report by Beazley reveals that 74% of Singapore-based executives view geopolitical and economic uncertainty as significant obstacles to business growth, a figure that has risen to 75% as of July 2025. The report, which surveyed 3,500 senior business leaders globally, highlights the increasing concerns over inflation and economic instability. In 2025, 30% of respondents identified inflationary pressures as a top risk, up from 25% in 2024, whilst 26% cited economic uncertainty as their biggest threat, an increase from 20% the previous year.

The findings underscore the complex risk environment businesses are navigating, with many adopting short-term strategies. However, Beazley suggests that long-term foresight and adaptability are crucial for growth. The report indicates that 38% of Singapore companies plan to reassess the security of their overseas operations, reflecting a shift towards treating security threats as immediate risks. Additionally, 32% of firms intend to explore insurance options that include risk and crisis management, up from 20% in 2024.

Despite the challenges, companies are investing in high-risk, high-opportunity areas such as AI and fusion energy. Bethany Greenwood, CEO of Beazley Furlonge Limited, emphasised the role of innovative insurance solutions in turning risks into competitive advantages. “Resilience isn’t just about surviving disruption; it is about turning risk into competitive advantage,” she stated.

The report suggests that businesses leveraging strategic risk management and insurance solutions can continue to thrive amidst uncertainty, positioning resilience as a key driver of growth.

Shopee, a prominent e-commerce platform in Southeast Asia, Taiwan, and Brazil, has teamed up with Meta to launch a suite of tools aimed at simplifying product discovery on Facebook and facilitating direct purchases through Shopee. This collaboration introduces a streamlined approach to affiliate marketing and enhances Facebook Live with Collaborative Ads.

The partnership allows creators with affiliate accounts to use Facebook Affiliate Partnerships, a dashboard that links their Facebook and affiliate accounts. This enables creators to tag products in posts and Reels, allowing shoppers to complete purchases directly on the affiliate partner’s site. Shopee is the first partner for this initiative, empowering creators to monetise content and connect brands with new customers.

Peggy Zhu, Head of Brand and Growth Marketing at Shopee, stated, “Shopee is committed to strengthening our ecosystem and improving the e-commerce experience. This includes helping brands and sellers expand their reach whilst creating new opportunities for affiliates to thrive and be creative.”

The collaboration also benefits creators through the Shopee Affiliate Programme, offering higher commissions, free product samples, and product sponsorships. Shopee supports affiliates with bootcamps and events to enhance their content creation skills.

Additionally, brands and sellers can maximise Facebook Live by integrating Collaborative Ads, allowing seamless product showcasing and checkout on Shopee. This feature is currently being piloted in Thailand, Indonesia, Vietnam, and the Philippines.

Damian Kim, APAC Director of Monetisation at Meta, commented, “With these product updates, Meta is demonstrating how we’re evolving to meet changing consumer behaviours in the region.”

The new tools are available in several countries, including Singapore, Malaysia, and Brazil, marking a significant step in the evolving digital shopping landscape.

The Singapore Business Federation (SBF) is set to lead a delegation of over 500 representatives from 57 Singaporean companies to the 8th China International Import Expo (CIIE) in Shanghai, taking place from 5 to 10 November 2025. This participation underscores the ongoing efforts to bolster trade relations and explore new growth avenues between Singapore and China, as the two nations celebrate 35 years of diplomatic relations and three years since the Regional Comprehensive Economic Partnership (RCEP) came into effect.

Despite global economic challenges, China remains a pivotal market for Singaporean enterprises, with 71% of Singapore businesses maintaining a strong presence there. The CIIE has been a crucial platform for these companies, generating over $533m in trade value since 2018. This year, the Singapore Pavilion, themed “Singapore-China: Envisioning the Next Horizon,” will span 1,213 square metres, showcasing strengths in services, food and agriculture, and consumer goods.

In conjunction with the expo, the Singapore-China Trade and Investment Forum will be held on 6 November, fostering dialogue and potential partnerships. Last year, the forum saw the signing of 15 memorandums of understanding worth over $60m.

Kok Ping Soon, CEO of SBF, highlighted the significance of the CIIE, stating, “The CIIE stands as a powerful testament to China’s commitment to openness and international cooperation, offering Singapore businesses a gateway to one of the world’s most dynamic markets.”

The SBF will continue its collaboration with the Bank of China Singapore Branch, which has been a financial services partner at CIIE since 2018. Shi Wei, General Manager of the branch, emphasised the bank’s role in supporting Singapore enterprises in the Chinese market, leveraging its extensive expertise and global network.

Grab, Southeast Asia’s leading superapp, has launched Partner Apps, enabling users in Singapore and Malaysia to access third-party services directly within the Grab app. This new feature allows users to enjoy a seamless experience with secure payments and no need for additional downloads, whilst earning GrabRewards Points with every transaction.

The initial rollout includes five services: Jolibox, Firsty, HelloRide, redBus, and Drive lah, with plans to expand further. Philipp Kandal, Chief Product Officer at Grab, highlighted the benefits, stating, “With Partner Apps available natively within Grab’s app, users will get more out of using Grab than ever.” This integration aims to enhance user convenience by offering a variety of services, from telecommunications to transport, all in one place.

Partner Apps not only expand Grab’s service offerings but also provide businesses access to Grab’s 46 million monthly users. This collaboration allows brands to leverage Grab’s platform for greater reach across Southeast Asia. Users can look forward to more brands joining the Partner Apps line-up in the coming months.

The initiative reflects Grab’s commitment to enhancing its ecosystem, which already spans deliveries, mobility, and digital financial services across eight countries. By integrating Partner Apps, Grab aims to meet everyday needs more effectively, offering users a comprehensive and rewarding app experience.

Fiuu, a leading fintech platform in Southeast Asia, has teamed up with Pos Malaysia and Payments Network Malaysia (PayNet) to launch a cashless solution for cash-on-delivery (COD) payments in Malaysia. Utilising Fiuu’s payment platform and PayNet’s DuitNow QR, the initiative aims to streamline COD transactions, offering a secure and seamless payment experience for customers across Peninsular Malaysia, Sabah, and Sarawak.

The new system allows customers to pay for deliveries by scanning a QR code on their smartphones, eliminating the need for cash and enhancing transaction speed and security. This development aligns with Malaysia’s national agenda to foster a cashless society, as highlighted in the recent Budget 2026 announcement.

DuitNow QR, Malaysia’s national QR standard developed by PayNet, will enable over 6,000 Pos Malaysia riders to collect payments digitally. This advancement addresses operational challenges such as manual cash handling and insufficient change, whilst also supporting cross-border transactions with compatibility for e-wallets like Alipay+ and Weixin Pay.

Pos Malaysia, which delivers over 30 million parcels annually, and Fiuu have significantly improved the delivery experience by integrating DuitNow QR. This partnership not only modernises the parcel and payments ecosystem but also sets new standards for efficiency and trust.

Eng Sheng Guan, CEO of Fiuu, stated, “This is more than just a payment solution, it’s a significant step toward reshaping the future of the e-commerce industry.” Charles Brewer, Group CEO of Pos Malaysia, added that the initiative reflects Pos Malaysia’s commitment to innovation and digitalisation. Gary Yeoh, Chief Marketing Officer of PayNet, emphasised the partnership’s role in advancing Malaysia towards a cashless society.

Singapore’s industrial real estate market showed stability in Q3 2025, according to Knight Frank Singapore’s latest report. Despite a challenging global environment, industrial asset values remained resilient, attracting both investors and owner-occupiers seeking quality opportunities. Calvin Yeo, Head of Occupier Strategy and Solutions at Knight Frank Singapore, noted the increased activity in the market as stakeholders aim to navigate global uncertainties.

The report highlighted a 5.7% quarterly decrease in industrial tenancies, with 3,168 leases recorded. Total industrial sales amounted to $1.1b (S$1.5b), marking a 34.1% quarterly decline. Manufacturing output also faced challenges, with a 7.8% year-on-year decrease in August 2025, although sectors like transport engineering and chemicals showed growth.

Notable transactions included the sale of a data centre for $258m (S$354m) and the acquisition of multiple properties by an EZA Hill-led consortium for $240m (S$329m). Despite a 9.2% drop in sales volume, easing interest rates have made more industrial properties attractive to investors.

The aerospace and logistics sectors continue to expand, driven by increased air travel accessibility and the development of Tuas Port. ST Engineering’s new facility in Paya Lebar and PSA Singapore’s collaboration with Cosco at Tuas Port are set to bolster these industries.

Looking ahead, Knight Frank anticipates stable industrial real estate indicators into early 2026, with investor interest in high-quality assets expected to remain robust. Factory values are projected to grow between 3% and 5% for the full year.