Asset Finance & Alternatives in APAC & Beyond
Aviation Finance, Alt Asset Finance in APAC & Beyond
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
Summary
Financing & Investments: IFC & SMFG $500M Digital Inclusion Bond; India AI Summit Spurs $250B Infrastructure & $20B Deep Tech Pledges; Peak XV Raises $1.3B for AI & Fintech; Indonesia–US Trade Pact Signed; Malaysia Boosts Cybersecurity Funding; SBI to Buy Majority of Coinhako; and Tower Capital Asia Acquires V-Key Stake
Environmental Sustainability: Australian Sugar Manufacturers Calls for National Ethanol Mandate; India Green Hydrogen Bid Hits $3.08/kg; Google–Government of India Climate Tech Center Launched; Spain–China €1B Green Hydrogen Plan; and South Korea Hydrogen Rectifier Deployment
Aviation: Amphibian Aerospace Industries Orders 15 Albatross 2.0 Aircraft; BOC Aviation $3.5B Credit Facility Renewed with Bank of China; China’s Lishui Airport Opens After 17 Years; COMAC Accelerates C929 Widebody Development with Aviage Systems; and Japan Considers In-Flight Power Bank Restrictions
Advanced Air Mobility: EHang Multi-Aircraft Demo Sets Record; INFLYNC L600 eVTOL Completes First Flight; SkyDrive and 7A Drones Agree to SD-05 eVTOL Purchase; NASA Urban Noise Study Highlights Sensitivity; and SkyGrid and Wisk Aero Propose Automated Flight Rules
Marine: DUG Technology and Searcher Seismic Reprocess East Sarawak Data; China’s Qingdao Port Executes Autonomous Autonomous Ship Operations; MISC Berhad Secures 15-Year FSO Charter; Sinokor Becomes Major VLCC Operator; and Bangkok Trials Electric Boat Taxis
Space: Airbus AALTO HAPS Plans Australian Zephyr Base; Space Epoch Secures Series B for Reusable Rockets; Pixxel Space and Dhruva Space Partner with Exotrail; JAXA Advances Global Cloud Observation Method; and Japan Pursues Space-Based Solar Power Demonstration
Financing & Investments
Capital is flowing toward digital infrastructure and regional technology bets—highlighted by the social bond from International Finance Corporation and Sumitomo Mitsui Financial Group, new funds from Peak XV Partners, and acquisitions such as SBI Holdings, Inc.’s move on the Coinhako Group—suggesting investors favor infrastructure-linked growth and consolidation in digital finance.
Asia-Pacific
International Finance Corporation has partnered with Sumitomo Mitsui Financial Group to launch a $500 million social bond dedicated exclusively to digital inclusion, targeting micro, small and medium enterprises in emerging markets. The bond, structured under SMFG’s Social Finance Framework aligned with the ICMA Social Bond Principles, marks IFC’s first investment in a thematic bond focused on digital inclusion and its first investment in TLAC-eligible instruments in Asia Pacific.
💡Proceeds will be allocated to eligible digital inclusion projects, including lending through SMFG India Credit Company Limited to expand MSME access to finance via digital channels. The initiative aims to help narrow financing gaps by streamlining loan processes and enhancing credit assessments using alternative data.
India
India’s AI Impact Summit reported more than $250 billion in infrastructure commitments and about $20 billion in deep tech venture investment pledges, according to officials. The infrastructure figure largely reflects announced plans for data centers, computing capacity and connectivity projects rather than immediate capital deployment. Major domestic conglomerates including Reliance Industries Limited and Adani Group outlined multiyear investment intentions totaling roughly $210 billion in AI and digital infrastructure.
💡The summit also endorsed a nonbinding declaration on AI development signed by 88 countries and organizations, signaling broad but voluntary international alignment on AI governance and economic inclusion. Plans for semiconductor expansion in Uttar Pradesh, including facilities linked to Micron Technology, Inc., aim to strengthen domestic technology supply chains.
India
Peak XV Partners has closed $1.3 billion in fresh capital commitments across three new funds focused on India and the Asia-Pacific region. The capital will be deployed over the next two to three years toward investments in artificial intelligence, fintech and other technology startups, with most allocations targeted at India.
💡Global investors continue increasing commitments to the region, including a planned $5 billion investment by General Catalyst in Indian companies over coming years. Venture activity remains concentrated in technology and growth-stage opportunities as funds position for returns in high-growth sectors.
Indonesia-USA
Indonesia and United States have finalized a reciprocal trade agreement aimed at expanding market access and reducing trade barriers. The pact includes Indonesian commitments to eliminate tariffs on most U.S. exports and address non-tariff measures, while the U.S. will maintain reciprocal tariff structures and consider the agreement’s implications for trade policy and national security.
💡The deal accompanies approximately $33 billion in commercial agreements spanning energy, aerospace and agriculture. A separate arrangement involving Freeport-McMoRan extends mining operations in Indonesia’s Grasberg district, supporting critical mineral supply chains and long-term investment commitments.
Malaysia
VentureTECH Sdn Bhd has committed MYR28 million to Delta Spike Asia Sdn Bhd and IX Telecom Sdn Bhd to strengthen Malaysia’s cybersecurity capabilities and cross-border digital infrastructure. The funding aims to support platform enhancement, capacity building and regional expansion, advancing Malaysia’s cyber resilience and positioning the country as a regional digital connectivity hub.
💡Delta Spike delivers end-to-end managed detection and response services through a Gen AI-enabled security operations model serving enterprise, financial and telecommunications clients across several markets. IX Telecom operates as a Bumiputera-owned hybrid virtual network operator with coverage spanning more than 200 countries and territories, providing global connectivity and digital infrastructure solutions while transitioning toward a Telco-as-a-Service platform.
Japan-Singapore
SBI Holdings, Inc. plans to acquire a majority stake in Coinhako Group through its subsidiary SBI Ventures Asset Pte. Ltd., in partnership with existing shareholder Holdbuild Pte. Ltd. The proposed transaction includes both an investment in Coinhako and the purchase of shares from current shareholders, with completion subject to regulatory approvals and final agreement on transaction structure.
💡Coinhako operates digital asset services via Hako Technology Pte. Ltd., which is licensed by the Monetary Authority of Singapore, and through Alpha Hako Ltd.. If completed, Coinhako is expected to become a consolidated subsidiary of SBI Holdings, with the parties stating that the integration aims to enhance digital asset services and infrastructure within SBI’s broader strategy in the digital finance sector.
Singapore
Tower Capital Asia has acquired a majority stake in V-Key, a provider of digital identity and mobile application security solutions. The investment is intended to support V-Key’s technology development and market expansion amid growing demand for secure digital services in financial and enterprise applications.
💡V-Key’s platform delivers tools for identity verification and mobile application protection used by institutions across multiple markets. The transaction is expected to provide resources for product development and regional growth as organizations continue adopting mobile and digital security solutions.
Environmental Sustainability
Falling clean-energy costs and policy experiments—from Australia’s ethanol mandate push by Australian Sugar Manufacturers, India’s record-low green hydrogen bid, and climate initiatives by Google with the Government of India—signal accelerating decarbonization, though success will depend on sustained demand signals and industrial scale.
Australia
Australian Sugar Manufacturers has called for a national ethanol mandate modelled on E10 requirements in Queenslandto stimulate investment in domestic ethanol production and support development of sustainable aviation fuel and other low-carbon liquid fuels. The group argues that a mandate would provide demand certainty, encourage private capital in biorefineries and supply feedstock for hard-to-electrify sectors such as aviation and heavy industry while strengthening Australia’s sovereign fuel capability.
💡ASM said existing state-based arrangements have been weakened by exemptions and inconsistent application, reducing investor confidence and limiting growth in domestic ethanol capacity. A national framework, the group contends, would deliver more predictable market conditions and enable long-term expansion of low-emission fuel production as Australia seeks pathways to decarbonize transport and industrial energy use.
India
India has recorded its lowest bid for green hydrogen supply at 279 rupees ($3.08) per kilogram in a tender to provide 10,000 tons annually to Numaligarh Refinery Limited, which is majority owned by Oil India Limited. Nine bidders participated in the auction, though the winning bidder was not disclosed.
💡The price is being described by officials as a milestone in India’s clean energy push and reflects falling production costs supported by abundant renewable energy and government incentives.
India
Google and the Office of the Principal Scientific Advisor to the Government of India have announced a climate technology collaboration, launching the Google Center for Climate Technology on the PSA’s Manthan platform. The initiative aims to support India’s research and development ecosystem by providing access to AI tools and sustainability-focused resources to advance decarbonization and climate innovation.
💡The center will solicit proposals in areas including workforce development for green industries, sustainable aviation fuel and low-carbon construction, with selected projects receiving support to build AI-driven solutions for environmental challenges.
Spain-China
MASPV plans to partner with Shanghai Shaanyao Group and Eontsing on green hydrogen projects in Spain with investments exceeding €1 billion ($1.4 billion), according to reports.
💡The Chinese companies would provide technical experience while MASPV contributes development experience from its solar energy operations, targeting projects expected to begin operations in 2026, though details on locations and production capacity have not been disclosed.
South Korea
A hydrogen project on Jeju Island will use a 5 MW rectifier system supplied by KraftPowercon for an electrolyzer installation being built by HyAxiom, Inc. The system will convert medium-voltage AC power to controlled DC for the electrolyzer stacks as part of industrial-scale hydrogen production on the island.
💡The rectifier uses a containerized, plug-and-play design intended to simplify installation and commissioning while supporting stable DC delivery and grid-friendly operation. Developers said the architecture aims to reduce harmonic impact on the grid and enable reliable electrolyzer performance under varying renewable-heavy power conditions.
Aviation
Orders for the amphibious Amphibian Aerospace Industries platform, development momentum at COMAC, infrastructure expansion such as China’s Lishui Airport, and regulatory tightening on in-flight batteries reflect simultaneous growth and risk management in aviation as manufacturers and regulators adapt to new operational paradigms.
Australia-India
Amphibian Aerospace Industries has received an order from Apogee Aerospace for 15 aircraft based on the Albatross 2.0 amphibious design, a modernized derivative of the historic flying boat platform. The agreement, valued at roughly $420 million, includes plans for manufacturing and systems integration in India as well as maintenance and training capabilities, though full production decisions remain subject to demand and certification requirements.
💡The Albatross 2.0 is positioned for roles in maritime operations, search and rescue, and passenger transport, leveraging a design that combines amphibious capability with modern turboprop engines and updated avionics. Developers say the aircraft targets niche markets where water-based operations and long-range versatility are required, offering an alternative to conventional fixed-wing platforms in regions with limited aviation infrastructure.
China
💡The revolving credit line was first established in 2007 and later increased to its current size, serving as a long-term source of funding for aircraft acquisitions and portfolio development.
China
Lishui Airport (LIJ) has opened in China’s Zhejiang province after 17 years of construction, providing the region’s first direct connection to the national aviation network. The airport’s initial capacity is one million passengers annually with provisions for future expansion, and its 12,000-square-meter terminal was designed by MAD Architects to blend with surrounding mountains through a curved, bird-inspired form and landscaped integration.
💡The facility begins operations with domestic routes to major Chinese cities and a planned international terminal in later phases. Authorities expect passenger capacity to rise to 1.8 million by 2030 and five million by 2050 as additional infrastructure is developed.
China
South China Morning Post reports that COMAC is accelerating development of its C929 widebody program, aiming to meet or advance its production timeline. Preliminary wind tunnel testing has begun and specialists from the Civil Aviation Administration of China are involved in design assessments and certification feedback, indicating closer regulatory participation in the aircraft’s development.
💡COMAC also signed a cooperation agreement with Aviage Systems to supply the core avionics processing system for the widebody jet; Aviage is a joint venture between General Electric Company and Aviation Industry Corporation of China.
Japan
Japan is considering a ban on the in-flight use of power banks and portable batteries to charge electronic devices after incidents in which batteries emitted smoke or caught fire on aircraft.
💡According to reports, the transportation ministry has notified domestic airlines that the measure could take effect in April, prohibiting both charging devices with power banks and using in-flight power outlets for portable batteries, while passengers would still be allowed to carry up to two power banks on board.
Advanced Air Mobility
Record demonstrations by EHang, the first flight of INFLYNC’s eVTOL, and partnership activity involving SkyDrive Inc. contrast with NASA research on urban noise sensitivity and proposals for automated flight rules from SkyGrid and Wisk Aero, underscoring progress toward commercialization alongside unresolved community and regulatory challenges.
China
EHang performed an aerial demonstration at the Spring Festival Gala branch event in Hefei featuring 16 EH216-S eVTOL aircraft in formation and a drone light show using 22,580 GHOSTDRONE 4.0 UAVs, which set a record for simultaneous multirotor operations.
💡The synchronized flights and light displays formed animated imagery as part of the broadcast by China Media Group.
China
INFLYNC announced the first flight of its full-scale tilt-wing ducted-fan electric vertical takeoff and landing (eVTOL) aircraft, the INFLYNC L600. The company said the test flight was successfully completed but provided no additional technical or performance details.
💡The development marks a milestone in the firm’s effort to advance eVTOL technology, though further information on certification timelines and operational capabilities has not been released.
Japan-Taiwan
SkyDrive Inc. and 7A Drones Co., Ltd. have reached a general understanding for the purchase of 10 SKYDRIVE SD-05 eVTOL aircraft. The agreement includes plans for one delivery in 2028 and four in 2029, with remaining units subject to further scheduling, and supports a proposed emergency medical transport route between Magong City and Hujing Island to improve healthcare access in the Penghu Islands.
💡SkyDrive described the arrangement as its first Asian market commitment, while 7A Drones said the collaboration could support advanced air mobility applications and strengthen cross-border cooperation between Taiwan and Japan.
USA
NASA research on advanced air mobility noise suggests residents of dense urban areas report greater annoyance from simulated air taxi sounds than those in quieter suburbs, according to a 2025 study involving participants in Los Angeles, New York and Dallas-Fort Worth. Volunteers rated the bothersomeness of aircraft flyover simulations, with findings indicating heightened sensitivity to new noise sources among city dwellers, though the research did not assess operational masking effects or long-term exposure.
💡The study, part of NASA’s aeronautics research program and conducted with a small control group at NASA Langley Research Center, aims to inform aircraft design and community planning as electric vertical takeoff and landing vehicles move toward commercial deployment.
USA
SkyGrid and Wisk Aero have released a white paper outlining Automated Flight Rules as a framework for scalable urban air mobility. The document builds on a prior concept paper and proposes automated traffic management, new airspace structures and a dedicated operating mode to support high-density low-altitude eVTOL operations in urban airspace.
💡The proposal argues that automated, certified decision-making can complement existing flight rules and reduce reliance on human coordination in congested airspace. Developers say the approach aims to modernize airspace management and enable commercial urban air mobility as operations scale, while inviting regulators and industry stakeholders to participate in validation and further development.
Marine
Autonomous shipping milestones and digital data upgrades—such as China’s unmanned container operations and seismic reprocessing by DUG Technology and Searcher Seismic—point to maritime modernization, while vessel consolidation led by operators like Sinokor and long-term offshore contracts for MISC Berhad highlight continued demand for scale and energy infrastructure.
Australia-Malaysia
DUG Technology and Searcher Seismic have agreed to reprocess multi-client 3D seismic data offshore East Sarawak,covering more than 60 legacy surveys across up to 45,000 square kilometers. The project will use full waveform inversion imaging and pre-stack workflows to enhance subsurface resolution and create an updated seismic volume available for commercial licensing to exploration and development operators.
💡Reprocessing is scheduled to begin in the first quarter of 2026, with interim results expected to support early acreage evaluation and final deliverables available from early 2027. The upgraded dataset aims to improve geological interpretation and prospect assessment around existing infrastructure, enabling companies to reassess hydrocarbon potential in the region.
China
The intelligent container ship Qingdao Port completed an unmanned autonomous navigation and berthing operation on February 21, marking China’s first fully automated end-to-end container ship process from navigation to mooring and cargo handling.
💡The vessel “Zhifei,” China’s first commercially deployed intelligent cargo ship, used autonomous navigation and an automated vacuum mooring system to berth in under 30 seconds before automated cranes and handling systems executed container operations via integrated control platforms.
Malaysia-Papua New Guinea
MISC Berhad has inked a 15-year bareboat charter agreement with Exxon Mobil Corporation to supply an offshore floating storage and offloading unit for Papua New Guinea’s first offshore FSO deployment.
💡Operations under the Kutubu Pipeline System are scheduled to begin in the first half of 2028, with an option to extend the charter for another 15 years; financial terms were not disclosed and MISC said the contract is not expected to materially affect earnings or balance sheet metrics in FY2026.
South Korea
Sinokor has become the largest operator of very large crude carriers after acquiring more than 50 secondhand VLCCs and securing additional tonnage under time charter, giving it control of about 118 vessels through ownership or charter arrangements.
💡Analysts say the position equates to roughly 13% of the active VLCC fleet and a larger share of the mainstream segment, marking an unprecedented concentration of supertanker capacity under a single operator.
Thailand
Bangkok Metropolitan Administration is trialing electric boat taxis on the Phadung Krung Kasem canal with free rides to Bang Lamphu until 28 February. The service, bookable through the Muvmi application, forms part of the city’s push to modernize canal transport with greener vessels as an alternative to road travel.
💡The electric boats operate from 9am to 5pm and connect piers including Hua Lamphong Railway Station and Phra Sumen Fort, carrying up to six passengers per trip. Officials say the trial will inform future expansion of electric water transport as Bangkok seeks to reduce emissions and improve urban mobility.
Space
Investment in reusable launch systems by Space Epoch, propulsion partnerships involving Pixxel Space, Dhruva Space, and Exotrail, and strategic initiatives such as the AALTO HAPS Zephyr base and Japan’s solar-power ambitions through Japan Aerospace Exploration Agency and universities reflect a shift toward persistent, lower-cost space capabilities with commercial and sustainability applications.
Australia
Airbus subsidiary AALTO HAPS plans to establish northern Australia as its next base for Zephyr stratospheric operationsand is seeking local partners to build a payload ecosystem for high-altitude communications and Earth observation. The initiative would support launch and landing capabilities and commercial applications, with engagement sessions planned alongside the Northern Territory Government and industry stakeholders.
💡Zephyr, a solar-powered aircraft capable of long-duration flight in the stratosphere, demonstrated a 67-day continuous mission in 2025. The company argues that conditions in northern Australia make it well suited for operations and complementary services to satellite systems, potentially expanding aerospace innovation and commercial opportunities in the region with support from partners including Airbus.
China
Space Epoch has secured a Series B funding round as it advances toward a first orbital launch and recovery attempt scheduled for late this year. The company said the capital will support large-scale development and production of three Yuanxingzhe-1 reusable methane-liquid oxygen rockets, with ground testing planned for the second half of the year and a target of achieving orbital launch and booster recovery by year’s end.
Space Epoch’s Yuanxingzhe-1 vehicle is designed to carry up to 13,800 kilograms to low Earth orbit and claims reusability for up to 20 flights, aiming to reduce launch costs through a methane propulsion architecture.
💡The company is developing integrated manufacturing, testing and recovery capabilities across facilities in Beijing, Shandong and Hangzhou as it pursues commercial operations and a reusable launch model in China’s competitive private space sector.
France-India
Pixxel Space and Dhruva Space have partnered with French propulsion provider Exotrail to integrate advanced electric propulsion systems into upcoming satellite missions.
💡The deal, part of the India-France Innovation Year initiative launched by Narendra Modi and Emmanuel Macron, will see Exotrail’s space propulsion technology deployed on Pixxel satellites through 2027 and micro propulsion systems supplied to Dhruva Space to enhance orbital maneuverability and mission capabilities.
Japan
A study by the Japan Aerospace Exploration Agency, working with researchers from the University of Tokyo and Kyushu University, has developed a method for observing cloud dynamics globally by combining satellite data with supercomputer simulations. The approach moves beyond simple cloud imaging, analyzing moisture transport and atmospheric interactions to improve understanding of precipitation and radiation effects.
💡Results show that Doppler velocity components from satellite measurements can be separated and accurately estimated, while simulations successfully reproduced observed boundary structures between rain and snow regions. The study also identified satellite-specific estimation errors, knowledge that could enhance future calibration and climate modeling efforts as scientists continue refining global cloud observation techniques.
Japan
Japan is advancing a space-based solar power initiative under the “OHISAMA” project to collect sunlight in orbit and transmit energy to Earth as microwaves, with a demonstration planned for fiscal 2025. The effort involves collaboration between researchers and partners including Kyoto University and Japan Aerospace Exploration Agency, aiming to explore whether solar energy gathered in space can provide a continuous renewable power source that avoids the limitations of weather and nighttime.
💡Although improvements in microwave transmission and lower launch costs have increased feasibility, major challenges remain. Engineers must design large structures in orbit and ensure safe energy delivery without interference to aircraft or satellites. If successful, the project could support Japan’s carbon neutrality goals and contribute to next-generation renewable energy systems, though widespread commercial deployment will require further technological and economic advances.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**