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: China Tightens Overseas Investment Rules and Expands Security Reviews; Malaysia Launches PKS@BURSA to Boost SME Listings; DayOne Data Centers Raises $4.5B Series C; K25.ai Secures $4M Strategic Investment From NewGenIVF Group; Panthera Growth Invests $30M In Innefu Labs; Goldman Sachs Upgrades Taiwan and South Korea On AI Chip Strength; Blackstone Closes $13.1B Asia PE Fund at Hard Cap; and China, Hong Kong Investors Barred From SpaceX IPO Participation
Environmental Sustainability: Australia Launches Regional Greenhouse Gas Monitoring Network; Japan Forms NTT Circurust for Copper Recycling and Urban Mining; Japan Expands CO₂-Free Electricity Supply to Toyota Suppliers; New Zealand eDNA Study Maps Lake Pathogen Presence; and Singapore Leads SEA Climate-Tech Funding in 2026
Aviation: Australia Calls for Regional Aviation Reform Over Costs and Competition; Jetstar Introduces Points Plus Pay For Business Class Upgrades; IATA and ICAO Expand Cooperation on SAF Tracking; SIA Engineering and Safran Launch $118M LEAP Engine MRO Joint Venture; and FPT, SATS Explore AI Collaboration in Aviation and Logistics
Advanced Air Mobility: China Develops AEE25 Electric Propulsion Engine for eVTOL Aircraft; China Debuts NAVEE WaveFly 5X Wing-In-Ground Craft for Low-Altitude Mobility; India Unveils BluJ Gen #2 Heavy-Payload eVTOL for Logistics Testing; Honda Completes First Flight of Full-Scale eVTOL Prototype; and Japan Builds Hydrogen Drone Port In Hiroshima For Island Logistics
Marine: China Unveils Green And Intelligent Vessel Designs at Posidonia; China, Mexico Sign Hybrid Train Carrier Ships Contract; ABB Partners Cochin Shipyard on Electric Harbour Tug Propulsion Systems; Singapore MPA, MSC Partner on Maritime Decarbonization and Digitalization; and South Korea Expands Dual-Fuel and Nuclear-Adjacent Ship Design Collaborations
Space: China Launches Partially Reusable Long March 12B Rocket On Maiden Flight; China Expands Qianfan Constellation To ~200 Satellites; Philippines, Japan Ink Space Cooperation Agreement on Satellites And Disaster Monitoring; Hanwha Aerospace Halts Operations After Fatal Plant Explosion Amid Safety Probe; and Spacecoin, DETI Partner on $100M Vietnam Satellite Blockchain Network
Financing & Investments
Capital flows in Asia continue to concentrate around AI infrastructure, data centers, and strategic technology assets, while governments tighten cross-border investment controls and large institutions raise exposure to selective North Asian tech markets amid increasing valuation and regulatory fragmentation.
China
China has issued new regulations on outbound investment that will take effect on July 1, introducing stricter oversight of overseas investments and measures to protect national security and development interests. The rules require security reviews for overseas transactions that could affect national security and prohibit investors from exporting or using restricted or prohibited goods, technologies, services and related data without authorization. The regulation also allows authorities to impose countermeasures against foreign entities that restrict Chinese investors or are deemed to harm China’s interests, including limits on trade, investment and business activities.
💡Alongside the new safeguards, the rules encourage companies to pursue overseas investments based on market principles, participate in international cooperation and competition, and retain responsibility for investment decisions and risks. China also pledged to strengthen Belt and Road cooperation, expand bilateral and multilateral investment frameworks, and play a greater role in shaping international investment rules.
Malaysia
Malaysia’s Ministry of Entrepreneur Development and Cooperatives (KUSKOP), through SME Corp. Malaysia, has launched the PKS@BURSA program to help small and medium enterprises (SMEs) access capital markets through listings on Bursa Malaysia. The government has allocated MYR50 million ($12.4 million) for the initiative through 2030, with a target of supporting 200 SMEs. Participating companies may qualify for rebates of up to 20% on listing-related costs if they successfully list within five years.
💡The program includes an SME Listing Fund offering financing of MYR2 million to MYR5 million at a 5% annual interest rate for up to five years, as well as a capacity-building component covering training, advisory services and corporate governance support. Eligible firms must have at least a three-star SCORE rating from SME Corp. Malaysia, stable financial performance and demonstrated readiness for listing.
Singapore
Singapore-based DayOne Data Centers has completed the final closing of its Series C funding round at $4.5 billion,marking one of the largest capital raises by a data center company in the region. The round was led by existing investors Coatue and Hillhouse, with participation from new investors including the Indonesia Investment Authority and Achi Capital Partners.
💡DayOne said the proceeds will support its expansion across Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong, Finland and Spain.
Singapore
Singapore-based AI livestreaming and prediction market platform K25.ai said Nasdaq-listed NewGenIVF Group has committed an additional $4 million strategic investment, bringing its total investment in the company to $6 million at an implied valuation of $100 million.
💡The investment deepens the partnership between the two firms and supports K25.ai’s plans for product development, licensing initiatives and regional expansion.
Singapore-India
Singapore-based growth equity firm Panthera Growth Partners has invested $30 million in Indian artificial intelligence company Innefu Labs through a combination of primary and secondary transactions from its second fund.
💡According to Panthera, the funding will be used for global expansion, research and development, enhancement of Innefu’s Agentic AI platform, development of robotics and physical AI capabilities, and sovereign AI infrastructure. Innefu provides AI platforms for defence, intelligence, law enforcement and enterprise clients in India.
Taiwan, South Korea & Hong Kong
Goldman Sachs said gains in Asian AI chip stocks could continue, though it warned that the risk of a pullback is rising as speculation increases. The bank upgraded Taiwan to overweight, raised its South Korea target, and downgraded Hong Kong-listed H-shares to market weight while maintaining an overweight stance on mainland China A-shares, citing stronger earnings momentum in North Asia’s technology sector.
💡Goldman raised its 12-month target for the MSCI Asia Pacific ex-Japan index to 1,080 from 990 and increased targets for Taiwan’s TAIEX and South Korea’s KOSPI. It said AI-driven earnings growth is concentrated in North Asia, while warning that the rally has narrowed and leverage in ETFs has increased, raising correction risk.
USA-Asia
Blackstone has closed its Asian private equity fund, Blackstone Capital Partners Asia III, at $13.1 billion, reaching its hard cap and surpassing its $10 billion target. The firm said it is its largest Asia-focused private equity fund to date.
💡Blackstone has invested more than $7 billion across 12 deals in Asia over the past 24 months. Recent transactions include backing Indian AI cloud platform Neysa in a $1.2 billion round, taking Japanese IT services provider TechnoPro private in a $3.5 billion deal, and investing in South Korea’s Juno salon franchise as part of its broader strategy targeting mid-market companies with international expansion potential.
USA-China
Investors in China and Hong Kong have been barred from participating in SpaceX’s planned initial public offering, according to Reuters citing Bloomberg News. The report said lead banks managing the offering instructed underwriting syndicate members not to accept orders from clients in China and Hong Kong, including private banking customers, citing regulatory and compliance considerations.
💡The restriction comes as foreign investment in China’s space sector remains tightly controlled and subject to military oversight. Reuters reported that SpaceX’s website and IPO marketing materials were inaccessible in mainland China and Hong Kong on Friday, following the start of the company’s investor roadshows in New York. Reuters said it was unable to independently verify Bloomberg’s report, while Goldman Sachs declined to comment and Morgan Stanley did not immediately respond to requests for comment.
Environmental Sustainability
Climate action is increasingly focused on emissions measurement infrastructure, industrial material recovery, and supply chain decarbonization, while capital continues to cluster in early-stage clean technology, particularly mobility and grid-adjacent solutions.
Australia
The New South Wales Government has launched Australia’s first dedicated regional greenhouse gas monitoring network, with a pilot program based in the Upper Hunter aimed at independently measuring emissions from sources including industrial activity and mining. The system uses a network of high-precision cavity ring-down spectrometers installed at existing air quality stations to measure carbon dioxide, methane and water vapour at parts-per-billion sensitivity.
💡Officials said the network will improve emissions tracking, strengthen reporting transparency and support climate policy as Australia works toward net zero. The pilot, delivered by the NSW Department of Climate Change, Energy, the Environment and Water in partnership with the NSW EPA, may be expanded across the state following evaluation.
Japan
NTT and Mitsubishi Materials said they will establish a joint company on July 1 to promote recycling of metals from telecommunications equipment and other products, with a focus on copper amid rising global demand from data centres and electric vehicles. The new company, NTT Circurust, will initially recover metals from NTT Group IT equipment and process them through Mitsubishi Materials before selling them as recycled materials.
💡The venture plans to expand recovery services to other companies and individuals from the next fiscal year and will develop a digital platform to track the full recycling chain from collection to resale. The initiative aims to strengthen Japan’s domestic “urban mining” supply chain, improve traceability and reduce the outflow of scrap copper overseas.
Japan
Chubu Electric Power Miraiz Co has begun supplying a CO₂-free electricity service to 12 supplier companies of Toyota Group firm Tokai Rika, using environmental value sourced from renewable energy assets owned within the Toyota Group.The service draws on wind power generation in Kyushu operated by Eurus Energy Holdings, a Toyota Tsusho Group company, and combines non-fossil certificates to deliver electricity classified as effectively 100% renewable.
💡The initiative is structured to support supply chain decarbonization, with an estimated annual reduction of about 2,219 tonnes of CO₂ emissions. The contract term is up to five years, shorter than standard off-site power purchase agreements, which typically run for around 20 years, allowing customers more flexibility in meeting emissions reduction targets.
New Zealand
A study by researchers from Te Whare Wānaka o Aoraki Lincoln University, Cawthron Institute, Earth Sciences New Zealand and James Cook University used environmental DNA (eDNA) to survey 287 lakes across New Zealand and identify potential bacterial pathogens. The analysis detected 412 putative pathogens, with 250 found only in water samples and 162 in both water and sediment, while none were found exclusively in sediment.
💡The researchers found higher pathogen presence in lakes with greater human and animal influence, though most detections were not at levels considered harmful. The study highlights eDNA as a low-cost tool for early detection and monitoring of lake health and biodiversity.
Singapore
Singapore led Southeast Asia’s climate-tech funding in 2026 year-to-date, accounting for about $872 million of the region’s roughly $1.1 billion in disclosed equity investment, according to Tracxn data covering 268 funding rounds. Indonesia followed with $162 million, while Vietnam recorded $53 million.
💡The report said Singapore-based companies featured prominently among the region’s most funded climate-tech firms, including Beam, Amperesand and Neuron. Across Southeast Asia, electric mobility dominated large funding rounds, while waste management and smart-grid technologies also attracted significant investment. The ecosystem remains largely early-stage, with most capital deployed at seed and Series A levels.
Aviation
Aviation activity is being shaped by structural cost and competition pressures in regional markets, alongside parallel moves to decarbonize operations through improved SAF tracking and reporting, while airlines and aerospace firms focus on monetization upgrades, MRO capacity expansion, and early-stage AI-driven efficiency partnerships.
Australia
Business NSW has called for urgent reform of regional aviation in New South Wales, warning that high costs and limited airline competition are increasing operating pressures for regional businesses. In a policy paper, the group said small and medium enterprises face higher costs, reduced market access and weaker supply chain links due to limited connectivity, noting that around 60% of regional and remote routes are served by a single airline.
💡The paper said regional airports are critical infrastructure for local economies and urged a coordinated NSW aviation framework to improve reliability, competition and affordability. It highlighted recent airline failures and the upcoming Western Sydney International Airport as key factors shaping future capacity, while an Australian Airports Association report noted that many regional airports are operating at a loss and called for more sustainable funding and greater competition to reduce fares.
Australia
Jetstar is introducing a “Points Plus Pay” option for international business class upgrade bids, allowing eligible Qantas Frequent Flyer members to combine Qantas Points and cash when bidding for upgrades on Boeing 787 international flights. The feature builds on the airline’s existing cash-only upgrade bidding system as it continues refurbishing its 787-8 fleet.
💡At launch, the option will apply to select routes such as Melbourne–Ho Chi Minh City, where business class upgrade bids start from $180 per person, with up to 80% of the bid payable in points.
Global
The International Air Transport Association (IATA) and the International Civil Aviation Organization (ICAO) have announced enhanced cooperation to improve transparency and integrity in tracking sustainable aviation fuel (SAF) deployment and progress toward net zero carbon emissions by 2050. The initiative focuses on strengthening data systems and collaboration between industry and governments to support credible measurement of emissions reductions from cleaner aviation energy sources.
💡The organizations will explore how SAF registries and related data can support ICAO’s Long-Term Aspirational Goal monitoring and reporting framework, as well as broader fuel accounting systems for international aviation.
Singapore-France
SIA Engineering Company and Safran Aircraft Engines have signed a joint venture agreement to establish a CFM LEAP engine maintenance, repair and overhaul facility in Singapore, aimed at supporting rising global demand for LEAP-1A and LEAP-1B engine services. The new company will integrate existing quick-turn maintenance operations in Singapore and expand into a full-service engine MRO capability as part of Safran’s global support network.
💡Under the agreement, Safran Aircraft Engines will hold a 51% stake in the joint venture, with SIA Engineering holding 49%. The partners plan total contributions of up to $118 million to develop the facility, subject to regulatory approvals.
Vietnam-Singapore
Vietnam-headquartered FPT has signed a memorandum of understanding with Singapore-based SATS to explore collaboration in artificial intelligence and digital innovation across Singapore, Vietnam and the wider Asia-Pacific region. Under the agreement, the companies will assess opportunities to combine SATS’ experience in ground handling and in-flight catering with FPT’s capabilities in AI and digital transformation.
💡The collaboration remains at an exploratory stage and is intended to provide a framework for future discussions on AI-driven solutions for the aviation and logistics sectors in the region.
Advanced Air Mobility
Advanced air mobility is advancing through parallel progress in electric propulsion, experimental low-altitude vehicles, and early-stage logistics-focused eVTOL deployment, while infrastructure and hydrogen systems begin emerging to support commercial drone operations and regional connectivity use cases.
China
The Aero Engine Corporation of China’s AEE25 electric propulsion engine, developed in Wuxi in Jiangsu province, rolled off the production line on Thursday. The engine is intended for TCab Tech’s E20 eVTOL aircraft.
💡According to AECC, the AEE25 achieves a torque density of 40 newton-meters per kilogram, the highest among China’s publicly disclosed 200-kW-class aviation electric engines. The system is currently undergoing airworthiness certification alongside the aircraft program.
China
NAVEE, a global intelligent outdoor mobility brand, has debuted the WaveFly 5X, a wing-in-ground (WIG) craft that uses ground effect for low-altitude flight above water. The aircraft operates 30–50 cm above water, reaches speeds of up to 85 km/h, carries up to 140 kg, and has a range of about 80 km. Built with a dual tandem-wing structure and carbon-fibre body, it is positioned as a consumer-oriented mobility product within the emerging low-altitude economy.
💡The launch marks NAVEE’s expansion beyond land-based transport into water-surface mobility, with the product forming part of its broader intelligent mobility ecosystem. The event at Dong Taihu also saw multiple distributors sign letters of intent for international market introduction.
India
BluJ Aerospace has unveiled “Gen #2”, a heavy-payload eVTOL aircraft designed for logistics and future mobility applications. The company said the aircraft is the first built on its VANTIS platform architecture, a scalable design intended to support multiple VTOL variants for cargo transport, regional connectivity and potential passenger use.
💡Developed over four years of in-house research, Gen #2 is currently undergoing flight testing and is designed for payloads above 200 kg within a 500-kg maximum take-off weight. BluJ said the battery-powered lift-plus-cruise aircraft will initially be used for pilot projects and logistics trials, following its earlier Gen #1 demonstrator, which achieved India’s first public flight of a 500-kg-class eVTOL.
Japan
Honda has completed the first flight of its full-scale eVTOL prototype. The maiden flight took place on April 1, and was announced in May.
💡The uncrewed 7,000 lb (3,175 kg) prototype, called F1, was airborne for around 90 seconds at Honda’s research and development centre in San Luis Obispo, California.
Japan
Robodex and Tokyu Land Corporation are building Japan’s first permanent hydrogen drone port in Hiroshima Prefecture to connect the mainland with Osakikamijima and nearby Seto Inland Sea islands. The facility, located within Tokyu Land’s LOGI’Q Hiroshima logistics complex, will be operated by Robodex and support hydrogen drone operations with a round-trip range of about 35 km.
💡The companies said the project aims to improve island logistics currently reliant on ferries that can be disrupted by weather and carry higher costs. The hydrogen system is designed to enable faster refuelling and operations for deliveries such as medical supplies and daily goods, while also supporting emergency response use cases.
Marine
Marine development is being shaped by a clear shift toward decarbonization and fuel flexibility, with increasing adoption of electric propulsion, alternative fuels, and hybrid vessel architectures alongside growing collaboration on digitalization and next-generation ship design across major shipbuilding hubs.
China
At the Posidonia International Maritime Exhibition in Athens, China State Shipbuilding Corporation’s Marine Design & Research Institute of China (MARIC) unveiled five new green and intelligent vessel designs spanning tankers, bulk carriers, container ships, and gas carriers.
💡Key designs include a 33,500 DWT fully electric product/chemical tanker with a 12.5-knot service speed, a 6,500 TEU ammonia-ready container ship, and a 90,000 m³ VLGC capable of transporting LPG and liquid ammonia with dual-fuel propulsion. MARIC also presented an 180,000 DWT bulk carrier with multi-fuel options and wind-assisted propulsion, and a 220,000 DWT Suezmax-class crude tanker optimised for canal transit efficiency.
China-Mexico
CSSC Huangpu Wenchong Shipbuilding has signed a contract with Mexican transport group GMXT for two next-generation train carriers, designed by China Shipbuilding Trading and SDARI. The vessels will be built with a single-engine, twin-propeller diesel-electric hybrid system aimed at cutting fuel consumption per ton-nautical mile by around 50% through more efficient engine loading.
💡The 180-metre ships will feature double-deck rail loading with capacity for 136 rail cars (about 2,700 metres of track) and enhanced clearance for taller 17-ft vehicles. Although similar in size to earlier SDARI designs already operating in the Gulf of Mexico, the new vessels include upgraded propulsion and ship–shore systems. Construction is scheduled to begin in 2027, with delivery expected in 2028.
India
ABB has partnered with Cochin Shipyard to supply power and propulsion systems for two electric harbour tugs being built in India. The vessels, which will be delivered to Polestar Maritime in 2027, are part of Phase 1 of India’s Green Tug Transition Programme (GTTP) and will operate at Jawaharlal Nehru Port Authority (JNPA), the country’s largest container port.
💡ABB will provide electrical propulsion, automation, and energy management systems, including its Onboard DC Grid™ platform and PEMS™ system to optimise battery use and manage fluctuating power demand. The company will also supply its remote diagnostics platform for condition monitoring.
Singapore
The Maritime and Port Authority of Singapore (MPA) and MSC Mediterranean Shipping Company have signed a Memorandum of Understanding (MOU) to deepen collaboration in maritime decarbonization, digitalization, innovation, and workforce development.
💡The two sides will explore new shipping routes and services, support adoption of alternative marine fuels including bio-LNG, and improve vessel energy efficiency and port operations through digitalisation initiatives. They will also collaborate on workforce development, including internships and scholarships under MaritimeONE, reinforcing Singapore’s role as a global maritime hub focused on sustainability and operational efficiency.
South Korea
Lloyd’s Register (LR) has expanded its collaboration with major Korean shipyards and shipping firms through a series of agreements announced at Posidonia 2026. The deals include Approval in Principle for an 88,000 m³ dual-fuel VLGC with DH Shipbuilding, along with new vessel concepts focused on LNG logistics, tanker efficiency, and next-generation fuels.
Other initiatives include a 22,000 m³ LNG bunker vessel with K Shipbuilding, a Suezmax tanker design incorporating passive air lubrication technology, and joint work with Hyundai Heavy Industries, KSOE, Hyundai Glovis, and KAERI on applying small modular reactor technology to a pure car and truck carrier.
💡Additional projects cover a floating data centre concept with Samsung Heavy Industries and a wind-assisted MR tanker design, alongside LNG carrier developments featuring hybrid electric propulsion and NAV1-compliant container ship standards.
Space
Space activity is characterized by accelerating satellite constellation buildouts and early reusable launch testing in China, expanding international cooperation in Earth observation and disaster monitoring, while also highlighting industrial safety risks and emerging private-sector models combining satellite infrastructure with digital network services.
China
China launched its Long March 12B rocket for the first time on 1 June from the Jiuquan Satellite Launch Center in the Gobi Desert, marking the debut of a partially reusable launch vehicle. The liftoff occurred without advance airspace closure notices, and the rocket deployed two satellites for the Qianfan (“Thousand Sails”) internet megaconstellation into low Earth orbit.
💡The mission did not include an attempt to recover the first stage, with reuse testing expected in later flights. The Long March 12B, which uses a configuration similar to SpaceX’s Falcon 9, is part of China’s broader push into reusable launch systems and follows other recent domestic efforts to develop partially reusable orbital rockets.low-Earth-orbit communications networks.
China
China expanded its Qianfan (“Thousand Sails”) broadband constellation this week with two Long March launches that added 36 satellites to orbit. The Long March 6A lifted off from Taiyuan on 4 June with 18 satellites, followed by a Long March 8 launch from Hainan on 5 June carrying another 18, according to China Aerospace Science and Technology Corporation.
💡With the latest deployments, Qianfan has reached about 200 satellites in orbit as the programme accelerates its launch cadence toward a planned large-scale network. The constellation, led by Shanghai Spacecom Satellite Technology, continues to rely on Long March rockets while commercial launch activity also increases across China’s broader space sector.
Philippines & Japan
The Philippine Space Agency (PhilSA) and the Japan Aerospace Exploration Agency (JAXA) has signed a Joint Declaration of Interest in Space Cooperation. The agreement covers potential collaboration in satellite missions and data applications, space exploration and human spaceflight, and space sustainability.
💡The two sides highlighted existing cooperation in disaster monitoring and satellite data sharing, including JAXA support through the Sentinel Asia program and use of ALOS-2 SAR data for mapping volcanic and weather-related events in the Philippines. The partnership also extends to education initiatives under JAXA’s Kibo program aboard the International Space Station, with both agencies signalling plans to further expand cooperation in environmental monitoring, disaster response and space technology development.
South Korea
Hanwha Aerospace has temporarily shut down operations across its major domestic facilities after a deadly explosion at its Daejeon plant killed five workers earlier this week. The company suspended non-essential production from Thursday to Friday to carry out emergency safety inspections and training, marking its first group-wide operational halt since its 2023 restructuring.
💡South Korean police and labor authorities also raided the Daejeon site, nearby R&D centers, and the Seoul headquarters to investigate the cause of the blast and compliance with safety procedures. The incident occurred at a facility producing propulsion systems for rockets and missiles, prompting inspections across nine sites handling propellants, munitions, and other high-risk defense manufacturing operations.
USA-Vietnam
Spacecoin, a blockchain-enabled low Earth orbit satellite network provider, has signed an exclusive memorandum of understanding with Vietnamese technology firm DETI Technology to deploy decentralized satellite telecommunications, sovereign routing, blockchain and edge AI infrastructure in Vietnam. The companies said the project is targeting at least $100 million in annual revenue once commercial operations begin, with a focus on serving mobile operators Mobifone and Gtel.
💡Under the agreement, DETI will hold exclusive rights to develop and distribute the technologies in Vietnam for three years following official operational licensing. The deployment will combine satellite connectivity, sovereign data routing, edge AI processing and blockchain-based network coordination
**Nothing in this article is intended to be or should be construed as legal or financial advice.**