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: NEXTDC Launches $720M Malaysia AI Data Center; Stellantis Signs $1.2B China JV With Dongfeng; ENEOS Acquires Chevron $2.17B APAC Downstream Assets; Foxconn Injects $407M Into Singapore Holding Unit; and Fasset Raises $51M for Stablecoin Banking Expansion
Environmental Sustainability: Australia Cuts Biosecurity Funding; Australia–Hong Kong Solar Glass Joint Venture; China Launches EV Battery Recycling Crackdown; Japan–Oman Carbon Credit Mechanism Launched; Malaysia Expands E-Waste Enforcement Powers; New Zealand Blocks Climate Liability Lawsuits; and Vietnam Launches Island Environmental Protection Plan
Aviation: Australia Expands Brisbane Airport Industrial Park; Hong Kong Tests New Terminal 2 Operations; India Conducts First Seaplane Trial to Lakshadweep; Singapore Airlines Reaffirms Long-Term Air India Stake; Jeju Second Airport Debate Intensifies; and Thailand Unveils $365B Airport Expansion Plan
Advanced Air Mobility: China Establishes Low-Altitude Safety Department; India Tests Electric Air Taxi Prototype; India Develops Hydrogen eVTOL Infrastructure Network; and Japan Signs eVTOL Aircraft Purchase Agreement
Marine: China Fines Global Shipping Lines for Rate Violations; India Launches $1.5B Maritime Insurance Pool; Japan Signs Renewable Power Deal for Yokohama Port; Japan–Singapore Test Autonomous Cargo Ship Operations; and Thailand Investigates Major Oil Tanker Fuel Discrepancy Case
Space: China Launches Tianzhou-10 Cargo Mission; China MinoSpace Seeks $736M STAR Market IPO; India–Italy Expand Space Industry Cooperation; Singapore Launches Space Innovation Lab; and Axiom Space Plans Japanese Subsidiary for Future Space Station
Financing & Investments
Global capital is increasingly converging on AI infrastructure, regional manufacturing localization, energy downstream consolidation, and regulated digital finance networks across Asia-Pacific and emerging markets, signaling a coordinated shift in how physical and financial infrastructure is being scaled worldwide.
Australia-Malaysia
Australia’s NEXTDC Limited has launched KL1 Kuala Lumpur, its first international data center project, with an investment of about $720 million. Located in Malaysia’s Klang Valley, the facility is designed to support artificial intelligence, cloud computing and high-performance computing workloads across Southeast Asia. The company said KL1 will provide 65MW of IT capacity and is expected to become the first Uptime Institute Tier IV-certified data center in Peninsular Malaysia.
💡NEXTDC said the facility is intended to serve organizations requiring secure, high-density infrastructure for AI and digital operations while meeting regional data governance requirements. Malaysian officials said the project supports the country’s plans to expand its digital economy and attract AI-related investment. The company added that the project will strengthen regional connectivity and support broader digital infrastructure links between Australia and Southeast Asia.
EU-China
Stellantis and Dongfeng Motor Corporation have signed a $1.2 billion agreement to produce Peugeot and Jeep vehicles in China. The deal, worth over 8 billion yuan, will support both domestic sales and exports, with Stellantis contributing about 130 million euros.
💡The agreement is part of Stellantis’ upcoming long-term strategy, set to be presented by CEO Antonio Filosa on May 21.
Japan
ENEOS Holdings has agreed to acquire Chevron Corporation’s downstream fuels and lubricants businesses across several Asia-Pacific markets in a deal valued at $2.17 billion. The transaction covers operations in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, including Chevron Singapore’s 50 percent stake in the Singapore Refining Company. ENEOS said the acquisition will be completed through a Singapore-based special purpose vehicle and is expected to close in 2027, subject to regulatory approvals.
The acquisition is aimed at expanding its fuels, lubricants and trading operations across Southeast Asia and Oceania as fuel demand in Japan declines and regional demand growth continues. The company plans to retain and develop the Caltex brand across Asia-Pacific markets and said integrating the assets with its existing operations is expected to strengthen regional supply chains and trading opportunities.
💡Chevron said the sale forms part of its international portfolio management strategy and that it will support the transition process during the ownership transfer.
Taiwan-Singapore
Hon Hai Precision Industry, also known as Foxconn, plans to inject about $407.2 million into its wholly owned subsidiary Foxconn Singapore Pte. Ltd. through the purchase of roughly 524.4 million common shares priced at SGD1 each, according to a filing with the Taiwan Stock Exchange. Foxconn said the transaction is intended for long-term investment and will be funded through private capital.
💡After the transaction, Foxconn will hold more than 8.63 billion shares in Foxconn Singapore, with a cumulative value of about $6.54 billion, maintaining full ownership of the unit. Foxconn Singapore operates as an investment holding company and serves as a key intermediary for the group’s regional investments, including projects in Vietnam such as manufacturing investments in Quang Ninh and Bac Ninh provinces approved in 2024.
USA-Global
Fasset has raised $51 million in a Series B funding round to expand its stablecoin-powered banking and financial infrastructure services across Asia, Africa and the Americas. The US-based company said investors in the round included SBI Group, Arz Portföy, Investcorp and several family offices.
Fasset plans to build on its existing operations in markets including the UAE, Indonesia, Malaysia, Pakistan and Türkiye while expanding regulated financial infrastructure across more than 50 banking corridors. The company currently holds regulatory approvals in several jurisdictions, including the UAE, Indonesia, the European Union, Pakistan and Malaysia.
💡 The funding will support additional banking licenses, compliance systems and the development of its Own Network platform for stablecoin payments and custody. The firm also plans to expand lending, SME banking and trade finance services using stablecoin settlement systems to improve cross-border payments and liquidity access.
Environmental Sustainability
Environmental policy is simultaneously tightening enforcement and scaling green investment across Asia-Pacific, while political tensions emerge in Australia and New Zealand over how climate responsibility should be balanced with economic and legal constraints.
Australia
Australia’s federal budget has been criticized for cutting about $200 million over five years from agriculture, fisheries and forestry programs, including major reductions to pest and disease preparedness funding. Around $104 million in grants will be removed or reduced, with some savings redirected toward trade and export priorities within the portfolio.
💡Farm groups and conservation organizations warned the cuts weaken long-term biosecurity efforts despite pests and weeds costing Australian agriculture an estimated $5.3 billion annually. While the budget includes some funding for border monitoring, disease preparedness, and CSIRO support, critics argue the measures are short-term and insufficient, with concern over stalled work on invasive species control such as fire ants and rabbits.
Australia-Hong Kong
Australia’s ClearVue Technologies has formed a joint venture in Hong Kong with Chinese vacuum-glass manufacturer LandVac to produce power-generating glass for building facades. The venture, supported by InvestHK, is intended to scale manufacturing of solar-integrated glass for commercial buildings by leveraging production capacity in mainland China.
💡The companies said the technology embeds solar generation into building glass and has been tested to reduce building energy consumption by up to about 70%.
China
China has launched a coordinated enforcement campaign targeting illegal recycling and disposal of electric vehicle and e-moped power batteries. The initiative, led by the Ministry of Industry and Information Technology and the Ministry of Ecology and Environment, will run through the end of June and follows new April regulations requiring full lifecycle traceability of batteries. Authorities aim to dismantle long-standing black-market recycling channels that have operated alongside compliant “whitelist” firms.
The crackdown comes as China faces its first large-scale wave of EV battery retirements, driven by rapid vehicle adoption beginning in the mid-2010s and typical battery lifespans of five to eight years. Officials say weak enforcement in past systems allowed a significant share of batteries to flow into unregulated workshops, raising environmental and safety risks.
💡A national traceability platform now assigns unique identifiers to batteries across production, use, and recycling, with penalties for improper disposal intended to tighten control over rare metal recovery and supply chains.
Japan-Oman
Japan and Oman have launched a Joint Crediting Mechanism (JCM) designed to support decarbonization projects while generating tradable carbon credits under the Paris Agreement framework. The agreement allows emissions reductions achieved in Oman to be partially counted toward Japan’s climate targets, while also supporting Oman’s own net-zero goals through joint government oversight and project approval.
💡The mechanism is expected to attract Japanese investment and technology across sectors including green hydrogen, renewable energy, transport, waste management and agriculture. Projects will be jointly developed by Omani and Japanese partners, with carbon credits verified by independent third parties and overseen by a bilateral committee
Malaysia
Malaysia’s federal government has granted state authorities expanded powers to crack down on illegal electronic waste processing, including the ability to carry out raids and seize land. The directive follows a national survey that identified 83 unlicensed plants handling hazardous e-waste across the country.
💡The measures are designed to strengthen enforcement against syndicates that import discarded electronics under false declarations, often leaving toxic residues that contaminate soil and waterways. Authorities said the new coordination framework will enable faster, joint operations and signal that Malaysia will not tolerate illegal waste operations.
New Zealand
New Zealand’s government is moving to amend the Climate Change Response Act 2002 to block courts from assigning tort liability for greenhouse gas emissions, directly overriding a Supreme Court ruling that allowed a landmark climate case to proceed. The decision is aimed at preventing lawsuits that could establish corporate liability for climate-related harm, with officials arguing that climate policy should be set by Parliament rather than through litigation.
The move affects the case Smith v Fonterra and others, brought by Māori elder Michael Smith against major emitters including Fonterra, Genesis Energy, New Zealand Steel, Z Energy, Channel Infrastructure, and BT Mining.
💡The government says the change will provide legal certainty for businesses, while critics argue it removes a key avenue for holding major emitters accountable through the courts.
Vietnam
The Van Don Special Zone in Vietnam has launched a 2026–2030 environmental protection project aimed at improving marine and island ecosystems. The initiative focuses on public awareness and mobilization efforts to reduce pollution and strengthen environmental management across the zone’s more than 600 islands, according to local authorities.
💡The plan sets targets for all island areas to meet “Green Island – Clean Island” standards by 2030, eliminate persistent waste sites, achieve at least 95% waste collection and treatment, and cut single-use plastic waste by over 80%. It also requires full household participation in environmental protection activities and promotes the development of green tourism, sustainable livelihoods, and green economic models across islands such as Ngoc Vung, Ban Sen, Minh Chau, and Quan Lan.
Aviation
Asia-Pacific aviation is in a broad expansion phase driven by infrastructure investment and new regional connectivity models, while environmental and political pressures increasingly influence long-term airport planning decisions.
Australia
Brisbane Airport has fast-tracked a 25-hectare expansion of its Airport Industrial Park in response to demand for logistics, supply chain, and manufacturing space in South East Queensland. The second stage follows full take-up of stage 1, which includes tenants such as Australia Post, Martin Brower, Sadleirs, Tile One, and 4WD Supacentre.
💡The new stage will deliver up to 27,000 square metres of lettable warehouse space across initial lots ranging from about 1,400 to 5,500 square metres, with provision for up to 10 tenants. The project is part of a broader $5 billion airport investment program over five years, with further industrial land releases planned and sustainability targets including 5 Star Green Star design standards.
Hong Kong
Hong Kong International Airport has completed a full-scale operational trial at its new Terminal 2 departure facilities ahead of the planned opening on May 27. The exercise involved over 1,100 participants from around 30 organizations, including Airport Authority Hong Kong, airlines, ground handlers, and government agencies.
💡The trial tested end-to-end passenger departure flows, including transport access, airline check-in, self-service bag drop, security screening, immigration, and boarding via the Automated People Mover. About 15 airlines, including HK Express Airways, Hong Kong Airlines, and Greater Bay Airlines, are expected to gradually shift departure operations to Terminal 2 starting 27 May.
India
A seaplane trial flight was completed between Kochi and Lakshadweep using a DHC6-400 Twin Otter operated by Skyhop. The aircraft landed at Agatti Island and later at Kavaratti Island, marking the first seaplane landings in the Lakshadweep lagoons.
💡The trial was coordinated with the Lakshadweep administration, Airports Authority of India, and Cochin International Airport Limited as part of efforts to evaluate seaplane connectivity for the region.
Singapore-India
Singapore Airlines Group has reaffirmed its commitment to its 25.1% stake in Air India, saying the carrier is showing “tangible progress” despite ongoing losses and operational challenges. Singapore Airlines CEO Goh Choon Phong said the investment, made alongside the Tata Group, is a long-term play tied to India’s aviation growth potential.
💡Air India reported about S$3.56 billion in losses for the year ended March 2026, weighing on Singapore Airlines Group’s profit. Goh pointed to service upgrades and internal restructuring efforts while noting that the turnaround will take time, with improvements expected over a multi-year horizon.
South Korea
Public debate over Jeju Island’s proposed second airport is intensifying, with civic groups split over its environmental impact and need for additional air capacity. Opponents raised concerns about bird strike risks, habitat disruption, and gaps in environmental assessments, while supporters argue the project is necessary to address chronic congestion at the existing airport and support future demand.
💡The issue has remained unresolved since the plan was first proposed in 2015 and later advanced through environmental review and a basic development plan in 2024, but has since stalled amid political change and local opposition. With Jeju Airport operating near capacity and handling over 30 million passengers annually, the project remains politically sensitive, and leading gubernatorial candidates have so far avoided firm positions, instead calling for further review or public consultation.
Thailand
Airports of Thailand (AOT) is revising its airport development plan with total investment of about 365 billion baht to increase combined capacity across six airports to 180 million passengers per year by 2034. The plan focuses on major upgrades at Suvarnabhumi Airport, including an East Expansion project and a South Terminal development, along with supporting infrastructure such as a fourth runway, cargo facilities, and aviation service zones.
💡Don Mueang Airport is also set for a major expansion with a new international terminal and related upgrades, while regional airports in Phuket, Chiang Mai, and Chiang Rai will be expanded in phases. Feasibility studies are also underway for two potential new airports in Phang Nga and Lanna as part of the broader network plan.
Advanced Air Mobility
Urban air mobility is shifting from experimentation to structured development as regulators, startups, and infrastructure providers begin aligning on certification pathways and operational ecosystems across Asia.
China
Civil Aviation Administration of China has established a new low-altitude safety department as part of efforts to develop the country’s low-altitude economy. The department will be responsible for planning low-altitude civil aviation development, coordinating safety and growth, and building flight service dispatch platforms and supporting service station systems, according to the regulator.
💡The development follows earlier steps by the National Development and Reform Commission to establish a dedicated unit for low-altitude economic planning and policy coordination.
India
Magnum Wings, an Andhra Pradesh-based startup, has completed an unmanned flight trial of its V2 2.0 electric air taxi prototype. The company said the test marks a step toward developing its urban air mobility platform and places it among early-stage Indian firms working on electric air taxi systems.
💡The V2 2.0 is designed for short-distance travel with an estimated 45-minute endurance and a range of about 30 kilometres. The company plans to move toward certification, followed by manned testing and potential commercial operations, subject to regulatory approvals.
India
Jio-bp and VJaitra Air Mobility have signed an MoU to develop charging and green hydrogen infrastructure for electric and hydrogen-powered eVTOL aircraft. The plan includes EV charging stations, hydrogen refuelling hubs, and vertiports integrated with existing fuel and transport networks to support future air taxi operations.
💡The partnership targets both short-range electric flights and longer-range hydrogen aircraft, aligning with India’s clean energy and transport goals. VJaitra is developing eVTOL aircraft for passenger, medical, and logistics use, while Jio-bp will support infrastructure rollout across selected urban and intercity routes.
Japan
SkyDrive Inc. has signed a letter of intent with Tohoku Air Service for the planned purchase of one SkyDrive Model SD-05 eVTOL aircraft, with delivery targeted for 2028. The agreement marks the first time a Japan-based helicopter operator has agreed in principle to acquire an eVTOL from SkyDrive.
💡Tohoku Air Service plans to assess the aircraft’s operational requirements, safety, and infrastructure needs before potential deployment in services such as regional transport, tourism, medical response, and disaster relief. The company said it will use its helicopter operations experience to evaluate how eVTOLs could be integrated into future regional mobility services in Japan.
Marine
The maritime sector is tightening regulatory compliance while accelerating decarbonization and digital transformation, alongside heightened scrutiny of operational transparency and energy logistics integrity.
China
China’s Ministry of Transport has fined nine international container shipping lines and seven domestic non-vessel operating common carriers (NVOCCs) for freight rate filing violations. The companies were found to have failed to properly complete rate filings or reported discrepancies between filed and actual prices following inspections at ports including Guangzhou, Qingdao, and Ningbo in 2025.
💡Major carriers affected include MSC Mediterranean Shipping Company, CMA CGM Group, Hapag-Lloyd, Ocean Network Express, and Evergreen Marine Corporation, along with other smaller operators. The ministry said the penalties serve as a warning and it will increase enforcement to ensure compliance with freight rate filing rules.
India
India has launched the $1.5 billion Bharat Maritime Insurance Pool with a $1.4 billion sovereign guarantee to provide domestic insurance coverage for shipping operations amid geopolitical risks. The mechanism covers hull, cargo, liability, and war risks for India-linked vessels and reduces dependence on foreign reinsurers.
💡State-owned General Insurance Corporation of India will administer the pool. Claims up to $100 million will be covered within the pool, with higher losses backed by the sovereign guarantee after reserves and reinsurance are used.
Japan
APM Terminals Japan has signed a 20-year offsite corporate power purchase agreement (PPA) with FPS Inc. to supply renewable electricity to its Yokohama terminal. The deal will provide solar-generated power from facilities with about 5.5 MW of installed capacity in the Tokyo region, starting April 1, 2026, and is expected to reduce Scope 2 emissions by roughly 2.6 ktCO₂e annually.
💡The agreement supports the wider decarbonization goals of A.P. Moller – Maersk, which targets 100% renewable electricity by 2030 and net-zero emissions by 2040. By replacing grid electricity with renewable supply, the PPA also aims to stabilize long-term energy costs while contributing to Japan’s energy transition through the addition of new solar capacity to the national grid.
Japan-Singapore
A NYK Line-operated car carrier, Elder Leader, completed its first call at the Port of Singapore on April 29, 2026, in a joint demonstration with the Maritime and Port Authority of Singapore. The vessel is fitted with autonomous navigation systems, LNG propulsion, and other digital shipping technologies aimed at improving efficiency and reducing emissions.
💡The trial tested data exchange between the ship’s autonomous systems and Singapore’s port traffic management platforms, including voyage planning, pilotage coordination, and real-time operational updates. Conducted with a pilot onboard under safety controls, the exercise is intended to support future integration of autonomous vessels into international shipping routes.
Thailand
Thailand’s Department of Special Investigation (DSI) has opened a probe into nine companies linked to oil tanker operations after an estimated 57–60 million liters of fuel reportedly went missing during transport in the Gulf of Thailand. The case covers 20 shipping trips involving 12 vessels moving oil from refineries in Thailand’s eastern region, with irregularities reported near Surat Thani.
💡Investigators are examining possible violations under the Price of Goods and Services Act, including alleged transport delays, stockpiling, and distribution issues. The DSI has questioned all nine firms and is reviewing navigation data from the Thai Maritime Enforcement Command Center to verify voyage timelines and reported disruptions such as weather, mechanical issues, and port congestion.
Space
Space activity is rapidly globalizing and commercializing, with stronger cross-border partnerships, growing private-sector participation, and accelerating infrastructure development for orbital and satellite-based economies.
China
China launched the cargo spacecraft Tianzhou-10 aboard a Long March 7 from the Wenchang Spacecraft Launch Site on May 11, successfully delivering supplies to the Tiangong space station. The craft separated from the rocket after about 10 minutes and later docked with the station’s Tianhe core module, carrying over 6.2 tonnes of cargo including consumables, propellant, and scientific payloads.
The mission also delivered experimental materials for space research, including zebrafish embryos, mouse embryos, and artificial human embryo models for studying early developmental biology in microgravity. Additional payloads include ultra-thin flexible solar cells, a greenhouse gas monitoring instrument developed with the Hong Kong University of Science and Technology, and upgraded extravehicular spacesuits and station supplies.
💡Tianzhou-10 is expected to remain docked for about one year, supporting ongoing operations and crew activities aboard Tiangong.
China
Satellite manufacturer MinoSpace has had its IPO application accepted on Shanghai’s STAR Market, seeking about $736 million to fund satellite constellation and product expansion plans. Plans call for developing the first phase of its 112-satellite Taijing constellation, which includes optical, multispectral, and synthetic aperture radar (SAR) satellites.
The company said it has already launched 32 satellites and operates a production capacity of up to 150 satellites per year in Wuxi. IPO proceeds would support construction of R&D facilities, new satellite platforms, communications satellite development, and SAR payload manufacturing.
💡The prospectus reports 2025 revenue of about $57 million, a net loss of $26.6 million, and an order backlog exceeding $147 million, including a major remote sensing constellation contract for Sichuan province.
India-Italy
India’s space regulator IN-SPACe led a delegation of nine Indian space-tech companies to Space Meetings Veneto 2026 in Venice, Italy, where firms announced multiple commercial partnerships with European counterparts. The event brought together global space industry players and focused on cooperation in launch services, satellite infrastructure, navigation systems, and mission operations.
💡Key agreements included Karnataka-based Astrobase Space Technologies signing an MoU with Italy’s Impulso Space to support launch opportunities and integrated mission management, while Kepler Aerospace signed a framework agreement with Apogeo Space to expand ground station-as-a-service infrastructure and collaborate on CubeSats, payload systems, and satellite operations. VyomIC also announced a separate collaboration focused on navigation and resilient infrastructure technologies.
Singapore
Singapore Space & Technology Think Tank has launched the Singapore Space Lab, described as the country’s first dedicated space innovation lab focused on commercial applications of space technologies in Southeast Asia. Supported by Deloitte, the lab will provide a platform for businesses, startups, investors and government agencies to explore technologies including Earth observation, satellite communications and geospatial analytics across sectors such as agriculture, logistics, energy and urban planning.
SST Think Tank and Deloitte said wider adoption of Earth observation data could generate nearly $100 billion in cumulative GDP value across Southeast Asia between 2023 and 2030, while the broader Asia-Pacific region could see $619 billion by 2030.
💡The launch comes as regional governments expand investments in space infrastructure and regulation, including Singapore’s establishment of a national space agency in 2026 and Vietnam’s opening of the Vietnam National Space Centre in Hanoi earlier this year.
USA-Japan
Axiom Space said astronaut Wakata Koichi will lead its newly planned Japanese subsidiary set to launch in July. The company is developing a commercial space station intended to succeed the International Space Station (ISS), which is scheduled to end operations around 2030.
Axiom Space, working with NASA’s plan to transition low-Earth orbit operations to private industry, aims to support a station with four permanent astronauts and is considering including a Japanese astronaut in its crew roster.
💡Wakata, a former Japan Aerospace Exploration Agency astronaut and ISS commander, said he will help ensure Japanese technical expertise contributes to future space infrastructure as he takes on a corporate leadership role following his 2024 retirement from JAXA.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
Interesting roundup, especially the sections around stablecoin-based trade finance, maritime insurance, and regional infrastructure investment. A lot of these developments point toward how financing, liquidity access, and cross-border operational networks are becoming increasingly interconnected across global corporate ecosystems.