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: AllianzGI Closes Asia Pacific Credit Fund III at $744 Million; AMC Robotics Expands Manufacturing Footprint in Vietnam; Singapore Advances Next-Gen Instant Payments; MAS Launches Future of Finance Institute; NUS Deepens Silicon Valley Venture Ties; Lion Group Backs Indonesian Stablecoin Developer; Swedfund Invests in Philippine Growth Capital; Foxconn Expands Investments Across Singapore, India & Mexico; Samsung Affiliates Invest in GRAIL Expansion; and Vietnam Proposes $100 Million National VC Fund
Environmental Sustainability: ICG and Hanwha Partner on Japan Energy Transition Projects; DBS Supports Asia’s Energy Transition Financing Platform; Hyundai Develops Green Hydrogen System for Antarctic Operations; ADB Backs Sri Lanka Rooftop Solar Initiative; Vietnam Eyes SAF Opportunity; and SunAsia and VinEnergo Advance Philippine Floating Solar Projects
Aviation: COMAC Business Jet Enters Commercial Service; HKEX Expands Sustainable Aviation Finance Cooperation; TruAlt Secures Support for SAF Production Facility; India Links Aviation Decarbonization with Fuel Stability Measures; Tokyo Disneyland Waste Oil Supports SAF Production; Idemitsu Advances Wood-Based SAF Supply Chain; and Korean Air Clears Final Hurdle for Asiana Integration
Advanced Air Mobility: Hong Kong Launches eVTOL Regulatory Sandbox; ePlane Completes Full-Scale e200X Assembly; Sarla Aviation and Urban-Air Port Partner on AAM Infrastructure; SkyDrive Advances SD-05 Flight Testing; and Malaysia Develops Low-Altitude Economy Framework
Marine: ASEAN and Norway Expand Blue Economy Cooperation; Shihang Intelligence Secures Major Underwater Robotics Funding; China Unveils LangYa 2.0 Ocean Forecasting AI; Clear Robotics Raises Capital for Autonomous Vessels; and Hanwha Ocean Explores FLNG Partnership in British Columbia
Space: Australia Joins Axiom’s Space Research Alliance; Rocket Lab Launches Synspective’s Tenth SAR Satellite; HKUST Advances Bio-Inspired Space Robotics; Taiwanese Software Goes Live on VERTECS Mission; and Thailand and Japan Deepen LEO Satellite Cooperation
Financing & Investments
The region is seeing stronger alignment between capital formation and industrial strategy, with funding flowing toward technologies viewed as critical for long-term competitiveness and economic resilience.
Asia-Pacific
Allianz Global Investors announced the first close of its Asia Pacific Secured Lending Fund III at $744 million, targeting private credit investments in middle-market companies across Asia Pacific. The fund allows institutional investors to co-invest alongside AllianzGI in lending opportunities across Southeast Asia, South Asia, Oceania and selected regional markets excluding China.
💡The strategy, managed by AllianzGI’s Asia Private Credit platform, focuses on providing flexible financing to companies with stable cash flows and exposure to sectors such as healthcare, education, digital infrastructure and the energy transition.
China-Vietnam
AMC Robotics Corporation will invest $3.5 million to build and equip a 6,150-square-metre manufacturing facility in Bac Ninh province. The company has signed a lease agreement for the site and plans to use Vietnam as a long-term base for production and regional operations in Southeast Asia.
💡The facility will initially produce AMC Robotics’ NovaArm robotic arm for warehouse sorting and industrial automation, with production targeted for the second half of 2026. The site is also intended to support future manufacturing expansion, including the company’s Kyro quadruped robotic platform.
Singapore
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) are studying enhancements to Singapore’s instant payments system under PayNow Generation 2 to improve accessibility, efficiency and interoperability.
💡Proposed measures include interoperability between PayNow and NETS QR, QR deep-linking for online payments, larger-value public sector transactions and new capabilities such as request-to-pay, structured data fields, micropayments and expanded cross-border connectivity. MAS and ABS plan to publish an implementation roadmap by end-2026.
Singapore
The Monetary Authority of Singapore (MAS) said it will establish a Future of Finance Institute (FFI) to accelerate the adoption of emerging financial technologies and support innovation in the financial sector. Initially focused on artificial intelligence and tokenization, FFI will connect financial and technology ecosystems and provide shared resources to promote broader adoption. MAS said the institute builds on existing initiatives including MindForge AI, PathFin.ai, Project Guardian and Project Orchid.
FFI will work with industry to accelerate the deployment of new technologies while MAS continues to oversee policy and regulation. The institute will serve as a knowledge hub, innovation platform, testing environment and source of implementation toolkits, including compliance tools for tokenized assets and updated AI risk guidance.
💡MAS said FFI will be overseen by a board comprising representatives from MAS, financial institutions, technology firms and academia, with further details to be announced later this year.
Singapore-USA
Singapore US venture capital firms Playground Global and Matter Venture Partners have joined the $117 million NUS VC Program, expanding access to Singapore’s deep tech ecosystem and start-ups in artificial intelligence, biotech, quantum technologies and advanced materials. The partnerships will also provide Singaporean ventures with access to Silicon Valley networks, experience and market opportunities.
💡NUS Enterprise will establish its first overseas outpost at Playground Global’s Silicon Valley facility, giving founders access to laboratories, prototyping capabilities and industry networks to support technology validation and US market entry.
Singapore-Indonesia
Lion Group Holding will invest up to $12 million in Indonesia-based PT Nusantara Bumi Sangkara, a digital finance company developing the rupiah-pegged stablecoin NIDR. The investment will be made through a non-cash transaction involving Lion shares or equity-linked securities under an agreement with Meili Capital Management.
💡Upon completion, Lion Group will hold an indirect 10% economic interest in Nusantara Bumi Sangkara through Meili or its investment vehicle. Lion said the investment supports its digital asset treasury strategy and expands its exposure to stablecoins, digital payments and blockchain infrastructure in Southeast Asia.
Sweden-Philippines
Swedfund has committed $15 million to Navegar Fund III, a private equity fund targeting mid-sized companies in the Philippines. The investment aims to expand access to long-term capital for businesses in sectors including healthcare, food distribution and logistics, supporting growth, formalization and job creation.
💡Managed by Manila-based Navegar, the fund has a target size of $250 million and invests in mid-sized Philippine companies. Swedfund said the investment aligns with its strategy to support inclusive growth, resilient businesses and higher-quality employment in Southeast Asia.
Taiwan
Taiwan’s Hon Hai Precision Industry (Foxconn) will invest $91.6 million in capital increases at subsidiaries in Singapore, India and Mexico, according to filings with the Taiwan Stock Exchange. The investments comprise $26.5 million in JUSDA Singapore, $28.0 million in JUSDA Supply Chain Management Mexico and $37.2 million in Foxconn Hon Hai Technology India Mega Development.
💡The transactions are structured as long-term investments funded through private capital and involve related-party share subscriptions. Foxconn reported record 2025 revenue of NT$8.1 trillion ($254.7 billion), with cloud and networking accounting for 40% of sales.
US-South Korea
US healthcare company GRAIL has raised $110 million in an equity financing from Samsung affiliates, including Samsung C&T Corporation, through the purchase of common stock at $70.05 per share. GRAIL said the investment will support growth initiatives and international expansion.
💡The companies will also collaborate to commercialize GRAIL’s Galleri multi-cancer early detection test in South Korea, with potential expansion into Japan and Singapore, subject to regulatory approvals. GRAIL said the funding will help support regulatory and reimbursement efforts for the test in the United States.
Vietnam
Vietnam’s Ministry of Science and Technology has proposed creating a $100 million National Venture Capital Fund for 2026–2028 to advance commercialization of strategic technologies and support the formation of competitive tech firms. The fund would be initially state-led and structured after Israel’s Yozma model, with plans to gradually attract private capital covering 30%–40% of total funding from 2028 onward.
💡The proposal also outlines governance and regulatory adjustments, including market-based recruitment, greater autonomy for investment decisions, portfolio-level performance evaluation, and legal safeguards for officials managing state-backed venture capital.
Environmental Sustainability
Energy transition efforts are broadening beyond renewable generation to encompass innovative financing models, hydrogen systems, grid modernization, sustainable fuels, and new deployment pathways tailored to regional decarbonization priorities.
Japan
ICG and Hanwha Energy Corporation Japan have formed a strategic partnership to pursue energy transition and infrastructure investments in Japan. The collaboration, through ICG’s Asia-Pacific Infrastructure strategy, will focus on renewable energy, battery energy storage systems (BESS), and digital infrastructure in one of the region’s largest power markets.
💡The partners will jointly identify and develop projects supporting Japan’s decarbonization efforts, building on ICG’s existing investments in solar and storage platforms.
Singapore
DBS Bank has provided a $210 million senior financing facility to ETAFCo, the investment vehicle under the Energy Transition Acceleration Finance (ETAF) partnership within Singapore’s FAST-P initiative led by the Monetary Authority of Singapore. DBS said the loan is its first to ETAFCo and will support energy transition infrastructure investments, including renewable energy, grid modernization and energy storage across Asia.
💡Managed by Clifford Capital, ETAF uses blended finance to mobilize concessional and private capital for transition projects aimed at reducing reliance on coal-fired power. The facility will initially support “displacement” investments that cut emissions through cleaner energy deployment, with broader efforts under FAST-P focused on scaling capital for Asia’s decarbonization and grid transition needs.
South Korea
Hyundai Motor Group will deploy a green hydrogen energy system at South Korea’s Antarctic research station to reduce reliance on diesel power. The project, backed by a government MOU, will use renewable electricity to produce hydrogen via electrolysis and store it for later use.
💡The stored hydrogen will be converted back into electricity through fuel cells when solar output is low, creating a closed-loop clean energy system.
Sri Lanka
ADB approved a $57.4m package for Sri Lanka’s rooftop solar aggregation and virtual net metering project. It will support utilities to pool power from ~25 MWp of rooftop solar and distribute credits digitally to users, including MSMEs.
💡The project also includes grid digitalization and a social mechanism to lower electricity costs for eligible consumers. Financing combines ADB loans, EU grants, and Japan’s Joint Crediting Mechanism fund, totaling about $80.5m in project costs.
Vietnam
Vietnam has significant potential to develop sustainable aviation fuel (SAF) due to abundant agricultural and biomass feedstock, government officials and industry experts said at a conference in Hanoi. The country is preparing to join the International Civil Aviation Organization’s CORSIA scheme in 2026 as part of its net-zero emissions target for 2050.
💡Officials said Vietnam’s SAF production prospects are supported by large volumes of waste oils, animal fats and agricultural residues, but high production costs remain the main barrier, with SAF currently priced two to four times above conventional jet fuel. They added that policy frameworks, financing mechanisms and regional cooperation will be key to scaling production and reducing costs.
Vietnam-Philippines
SunAsia Energy and Vietnam’s VinEnergo will jointly develop a 422-MWp floating solar portfolio in Pampanga and Negros Occidental in the Philippines, with an estimated investment of $406 million. The projects will use solar-on-water systems that allow continued aquaculture beneath and around installations.
💡The three projects are scheduled for commercial operation between 2027 and 2028 and are expected to generate power for more than 278,000 homes while avoiding about 460,888 tons of carbon emissions annually.
Aviation
Aviation decarbonization is emerging as a central industry theme, with growing momentum behind sustainable aviation fuel production, circular feedstock strategies, green financing, and structural consolidation across the sector.
China
The COMAC Business Jet (CBJ), a derivative of the C909 regional jet, has entered commercial service with its first charter flight from Shanghai Hongqiao to Beijing Capital on June 22. The aircraft, developed by Commercial Aircraft Corporation of China in partnership with Deer Jet, received its validation type certificate in 2021 and seats 12 to 29 passengers depending on configuration.
💡The CBJ is based on the ARJ21-700 airframe and is powered by GE CF34-10A engines, with a range of about 5,000 km. COMAC said the entry into service marks progress in the commercialization of domestically developed civil aircraft and expansion into the business aviation segment.
Hong Kong
Hong Kong Exchanges and Clearing Limited has signed two MOUs with Astana International Exchange and the Astana International Financial Centre Authority to strengthen capital markets connectivity between Hong Kong and Central Asia. Under the AIFC Authority agreement, the parties will collaborate on green finance, decarbonization, carbon markets and sustainable aviation projects, including financing frameworks linked to aviation transition infrastructure.
💡A separate MOU with AIX focuses on cross-border listings and debt market connectivity, including dual listings to broaden issuer access across both markets. The agreements also establish closer coordination on market development, with cooperation extending to commodities and energy transition-linked financing, including aviation-related sustainability initiatives.
India
TruAlt Bioenergy Ltd. has received ₹150 crore in financial assistance under India’s PM JI-VAN Yojana for a planned commercial-scale sustainable aviation fuel (SAF) project. The support, approved by the Centre for High Technology under the Ministry of Petroleum & Natural Gas, is intended to partially offset capital costs and improve project viability.
💡The proposed facility will have a production capacity of 100 million litres per year and is positioned to support India’s SAF blending targets and long-term decarbonization goals for aviation.
India
India is advancing a coordinated aviation decarbonization push that links SAF policy with broader fuel-price stabilization.A new ₹100 billion ($1.06 billion) ATF price stabilization fund caps domestic jet fuel at ₹115/liter, aiming to shield airlines from crude volatility while easing operating costs. At the same time, policymakers are integrating surplus ethanol capacity into aviation use cases, with a planned roadmap targeting 5% SAF blending by 2030 and positioning ethanol-derived SAF as a key domestic alternative to imported fossil jet fuel.
💡The strategy is reinforced by large-scale biofuel and SAF pilot projects, including ethanol-to-jet pathways, agricultural residue conversion, and industrial SAF facilities under schemes like PM JI-VAN. India’s feedstock advantage—large volumes of agricultural waste and existing ethanol overcapacity—is being leveraged to scale production, while government-backed projects (such as Indian Oil’s Panipat complex) demonstrate integrated output of ethanol, bio-CNG, and SAF.
Japan
Oriental Land Co. has begun collecting waste cooking oil from Tokyo Disneyland and related facilities for conversion into SAF, in partnership with Japan Airlines. The initiative aims to recycle food waste streams into aviation fuel feedstock and promote awareness of SAF use in commercial aviation.
💡The programme supports SAF production from waste oils as part of broader efforts to reduce lifecycle emissions in aviation. Oriental Land said the project also reflects resource circularity objectives, while Japan Airlines continues to expand SAF procurement and deployment across its operations.
Japan
Idemitsu Kosan is partnering with the MORISORA® project consortium under Morisora Biorefinery LLC to develop a domestic SAF supply chain using wood-derived ethanol as feedstock. The initiative will integrate ethanol (E2G) produced from domestically sourced timber with alcohol-to-jet (ATJ) SAF production being explored by Idemitsu for verification.
💡The companies will jointly assess logistics between biomass production sites and SAF production facilities in Japan, as well as regulatory and commercial frameworks needed for deployment.
South Korea
Korean Air has received final approval from South Korea’s Ministry of Land, Infrastructure and Transport to complete its integration with Asiana Airlines, clearing the way for the launch of a combined carrier on Dec. 17. The decision follows an advisory review confirming the merger meets legal requirements after an integration agreement was submitted last month.
💡Approval is conditional on maintaining aviation safety and consumer convenience. Korean Air initiated the acquisition of Asiana in 2020, with the goal of forming one of the world’s largest airlines by fleet size.
Advanced Air Mobility
Advanced air mobility development is increasingly shifting from concept validation toward ecosystem readiness, with parallel progress in aircraft testing, vertiport planning, regulatory frameworks, and commercial deployment pathways across Asia.
Hong Kong
Hong Kong’s Transport and Logistics Bureau and Civil Aviation Department have launched a regulatory sandbox to evaluate eVTOL operations in the Guangdong–Hong Kong–Macao Greater Bay Area, selecting AutoFlight and EHangfor uncrewed flight trials. The initiative is designed to test operational parameters including airspace use, payload limits, altitude, speed and GNSS navigation reliability.
💡AutoFlight will deploy its V2000CG aircraft, while EHang will use its EH216-S platform. The trials are part of Hong Kong’s broader effort to develop regulatory frameworks for a low-altitude economy and assess the feasibility of commercial eVTOL services in the region.
India
The ePlane Company has completed assembly of its full-scale eVTOL aircraft, the e200X (PT-01), integrating core subsystems into a single airframe ahead of ground testing. The company said the aircraft marks a shift from simulation to physical validation and is designed for passenger air taxi, cargo transport and air ambulance applications.
💡The e200X will undergo structural and systems testing before flight trials and certification with India’s Directorate General of Civil Aviation. The aircraft is developed with in-house propulsion, airframe, landing gear and battery systems, and the company plans phased commercial deployment across passenger, cargo and medical use cases following certification milestones.
India-UK
Sarla Aviation and Urban-Air Port have signed an MoU to develop infrastructure and deployment frameworks for advanced air mobility in India. The partnership will focus on integrating Sarla’s Shunya eVTOL platform with Urban-Air Port’s vertiport systems and planning phased network rollout across Indian cities.
💡The collaboration also includes engagement with India’s Directorate General of Civil Aviation, site assessments in major urban regions, and development of operational models for commercial eVTOL services. The companies said the effort aims to align aircraft certification timelines with vertiport and regulatory readiness to enable scalable AAM operations.
Japan
SkyDrive Inc. has completed high-speed flight tests of its SD-05 eVTOL aircraft, reaching 100 km/h while validating stability, controllability and propulsion performance. The company said the results confirm alignment between flight data and earlier design and simulation models.
💡SkyDrive said the tests mark progress toward certification and planned commercialization in 2028. The aircraft, based on a compact multicopter design with 12 rotors, is intended for short-hop urban air mobility and will continue expanded flight-envelope testing ahead of regulatory approval.
Malaysia
Malaysia is developing a regulatory framework for a low altitude economy (LAE) covering drones, air taxis and eVTOL aircraft, Transport Minister Loke Siew Fook said. The government aims to support new aviation technologies while maintaining safety oversight, with the Civil Aviation Authority of Malaysia tasked to lead framework development.
💡The initiative builds on existing drone use cases in agriculture, medical delivery and infrastructure monitoring, and outlines potential expansion into passenger eVTOL services and rural air connectivity. The government said the LAE could become a new growth sector spanning logistics, mobility, semiconductors and advanced manufacturing.
Marine
Marine innovation is converging around automation, AI, and industrial-scale infrastructure, as governments and companies invest in resilient ocean economies, autonomous systems, and next-generation maritime capabilities.
ASEAN-Norway
ASEAN and Norway launched a blue economy cooperation project in Jakarta on World Oceans Day 2026, running through 2027. The initiative focuses on sustainable aquaculture and fisheries, and aims to build regional cooperation, close policy gaps, and share best practices.
💡The project will serve as a platform for knowledge exchange between ASEAN members and Norway, supporting innovation in fisheries and food security. It is intended to strengthen the region’s long-term blue economy resilience through research collaboration and policy coordination.
China
Shihang Intelligence, a Chinese ocean robotics company, raised over 1 billion yuan in Series A funding, reportedly one of the largest single rounds in the underwater robotics sector. The company develops autonomous and remotely operated underwater robots used for ship hull cleaning, offshore wind inspection, aquaculture monitoring, and subsea infrastructure maintenance.
💡It combines hardware systems with AI-based control software to improve autonomy in complex underwater environments. The company also reported over 1 billion yuan in orders in the first half of 2026, reflecting demand for industrial underwater services rather than one-off equipment sales.
China
Chinese researchers have released LangYa 2.0, an upgraded ocean forecasting AI developed by the Institute of Oceanology of the Chinese Academy of Sciences. It expands from basic ocean variables in version 1.0 to predicting complex marine hazards such as typhoons, storm surges, extreme rainfall, sea ice, and internal waves.
The system uses multiple specialized sub-models trained on ocean–atmosphere data, satellite imagery, and historical events to produce scenario-level forecasts intended for operational use in disaster response, shipping, and polar navigation.
💡Early validation reports, including Arctic sea ice forecasting benchmarks, indicate improved performance over several global models, with outputs designed to be higher-resolution and more decision-focused than traditional physical forecasting systems.
India
Indian maritime technology company Clear Robotics,has raised US$1.75 million in a Pre-Series A round led by Shipsfocus Ventures to support the global expansion of its autonomous vessel business. Existing investors, including Katapult Ocean and SGInnovate, also participated in the financing.
💡The company operates a fleet of 26 all-electric unmanned surface vessels equipped with AI-based navigation and analytics systems for maritime infrastructure applications. The funding will support expansion in Southeast Asia, India and the Middle East, alongside development of larger vessel platforms, automated port surveying capabilities and retrofit technologies for future open-ocean operations.
South Korea-Canada
Hanwha Ocean and Kanata Clean Power signed an MoU to explore cooperation on a proposed $15.7bn floating LNG (FLNG) export project in British Columbia, with potential capacity of up to 12 mtpa.
💡The collaboration covers engineering, construction, operations, LNG shipping, and possible equity participation and offtake arrangements. The project would use modular floating infrastructure near Prince Rupert to supply LNG to Asia-Pacific markets, subject to final approvals and investment decisions.
Space
The Asia-Pacific space sector is increasingly moving beyond launch activities toward building sustained in-orbit capabilities through collaborative efforts in research, satellite constellations, robotics, and commercial low-Earth orbit applications.
Australia
Australia’s ARC Centre of Excellence in Plants for Space and the University of Adelaide have joined Axiom Space’s University Alliance, a global network focused on advancing microgravity research and commercial space applications in low-Earth orbit.
💡The alliance brings together 26 institutions to shape research priorities and support the shift toward commercially operated space stations. The Australian teams will contribute to studies including space-based pharmaceutical production, with an ISS demonstration planned for 2027.
Japan-New Zealand
Rocket Lab successfully launched Synspective’s tenth Earth observation satellite, marking its 12th mission of the year and the 91st Electron launch overall. The mission placed a SAR imaging satellite into a 552 km low Earth orbit from New Zealand, continuing a 100% success record for Synspective deployments.
💡The launch expands Synspective’s StriX constellation to 10 satellites, with Rocket Lab contracted for 17 more launches to complete the network by the end of the decade.
Hong Kong
The Centre for AI Robotics in Space Sustainability (CAIRSS) at HKUST has received HKD 46 million in funding to develop bio-inspired robotic manipulation systems for in-orbit operations. The project focuses on space debris removal and on-orbit manufacturing, with an in-orbit demonstration targeted for 2029 and collaboration across HKUST, CAS institutes, and industry partners.
💡The research will move away from rigid robotic designs toward flexible, biologically inspired actuation systems intended to handle complex tasks such as capturing debris and assembling structures in space.
Taiwan-Japan
Taiwan’s NCHU and NTHU jointly contributed to the VERTECS CubeSat telescope, successfully launched on Japan’s H3 rocket on June 12 in a multi-institution mission led by Kyutech and JAXA. The satellite is designed to study mysterious excess visible light in the universe using wide-field cosmic background observations.
💡A key highlight is that Taiwanese-developed software for data acquisition and processing is now operating in orbit, marking a step forward in Taiwan’s space data science capabilities.
Thailand-Japan
Thailand and Japan signed a cooperation agreement to expand collaboration in Low Earth Orbit (LEO) satellite technology. The deal focuses on joint research into satellite constellations, industrial applications, and potential future projects.
💡The framework also brings together Thailand’s GISTDA and Japan’s JAXA and space industry to share technical data and produce joint studies. The aim is to support industrial development, security applications, and everyday space-based services.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**