Beyond Horizons
Trailblazing Tales from Asia
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.**
Events
Asia-Pacific Space Events
October 2025
28–31 Oct 2025: Nihonbashi Space Week 2025, Nihonbashi, Tokyo, Japan – Brings together 100+ start-ups and companies, highlighting developments supported by Japan’s Space Strategic Fund.
November 2025
4–6 Nov 2025: Asia-Pacific Satellite and Space Community (APSCC 2025), Taipei Marriott Hotel, Taiwan – Market insights, partnership opportunities, and business deals for space professionals.
18–21 Nov 2025: Asia-Pacific Regional Space Agency Forum (APRSAF-31), Shangri-La Mactan, Cebu, Philippines – Focus on regional policy, education, GNSS, and applications.
December 2025
9–11 Dec 2025: Airspace Asia Pacific 2025, Hong Kong, China – Addresses integration of space launches and satellite operations into urban airspace, fostering dialogue between airspace managers and space industry stakeholders.
Summary
Financing & Investments: ASEAN Payment Networks Sign George Town Accord for Cross-Border Standards; EU Invests $191M to Modernize Uttarakhand Water Infrastructure; HashKey and HATA Team Up to Expand Southeast Asia Crypto Trading; HKUST and Gobi Launch Fund to Commercialize University Tech Startups; and MAS Launches BLOOM Initiative for Multi-Currency Digital Settlement
Environmental Sustainability: Indonesia and Banks Launch $110M Sustainability-Linked Loan; East Ventures and Temasek Fund Climate Innovation Pilots in Indonesia; Mestron Energy and Trinasolar Partner to Expand Malaysian Solar Capacity; Climate Fund Managers Close $1.07B Global Climate Infrastructure Fund; and Malaysia Launches Dana Iklim+ Climate Investment Fund
Aviation: Teenage Pilot Byron Waller Completes Record-Setting Global Flight; Qantas Proposes Combined Aircraft Door and Stairs Procedures; Global Aircraft Supply Shortages Raise Costs and Delay Production; Korean Air Adopts Airbus Predictive Maintenance Platform; and Thailand Achieves High ICAO Aviation Safety Score
Advanced Air Mobility: EHang Unveils VT35 Long-Range Pilotless eVTOL; AVIC Develops New VTOL Aircraft for Urban Transport and Logistics; Shaanxi Aircraft Reveals Ibis Shadow 60 Heavy-Lift Cargo Drone Concept; Indian Startup Airbound Raises $8.65M for Drone Delivery Expansion; and Air New Zealand Flies First Electric Aircraft with Beta Technologies’ Alia CX300
Marine: Chinese Container Ship Completes Pioneering Arctic Voyage; China Sanctions US Hanwha Ocean Subsidiaries; Pacific Basin Moves Bulker Fleet to Singapore to Avoid US Fees; Pakistan Expands Fleet with Three Secondhand Tankers; and Shell Hires Singapore Crane Vessel for Nigerian Offshore Project
Space: CEYE and IHI to Build Earth Observation Satellite Constellation; Gamma-Ray Glow Near Milky Way May Hint at Dark Matter; Space Quarters Raises $5M for In-Orbit and Lunar Construction Tech; Yokogawa and Toyota Develop Lunar Cruiser Rover with JAXA; and Taiwan Partners with ispace for 2028 Lunar Payload Mission
Financing & Investments
ASEAN and Singapore are driving cross-border and digital payment integration; India and EU focus on infrastructure and public services; Hong Kong emphasizes fintech, crypto expansion, and university-driven innovation—highlighting a regional trend toward tech-enabled finance and sustainable development.
ASEAN
Six national payment networks from five ASEAN countries have signed the George Town Accord, an agreement to establish a common global standards body for non-card instant retail payments. Signed on October 9, 2025, the accord brings together Payments Network Malaysia (PayNet), NETS (Singapore), NAPAS (Vietnam), BancNet(Philippines), and Indonesia’s Artajasa and Rintis, representing over 538 million people.
💡The initiative, known as Project Next50, aims to create consistent, secure, and interoperable technical and operational standards for cross-border transactions, spanning QR payments, account-to-account transfers, e-wallets, NFC, biometrics, and AI-driven digital payments, while preserving national payment sovereignty.
EU-India
The European Investment Bank (EIB) is lending $191 million to the Indian government to upgrade and expand water infrastructure in Uttarakhand, marking EIB Global’s first project in India. The initiative will improve water supply and sanitation across the rapidly growing state, benefiting around 900,000 people over five years.
💡Planned upgrades include modern wastewater treatment, leak reduction, automatic meter reading, greater plant automation, real-time remote data collection, and new connections for underserved communities. EIB Vice-President Nicola Beer said the improvements will enhance public health and support poorer households.
Hong Kong
HashKey Exchange, Hong Kong’s largest licensed virtual asset exchange, has signed an MOU with Malaysia’s HATA, a licensed digital asset exchange, to expand its footprint in Southeast Asia.
💡Under the agreement, the two exchanges will assess API connectivity and system integration, jointly study regulatory frameworks in Hong Kong and Malaysia, and develop compliant operating models to optimize trading experiences for investors.
Hong Kong
The Hong Kong University of Science and Technology (HKUST), Hong Kong Investment Corporation Limited (HKIC), and Gobi Partners have launched the Gobi-Redbird Innovation Fund (Gobi-RIF) to support early-stage start-ups emerging from HKUST.
The fund aims to commercialize university-born technologies in biotechnology, Industry 4.0, artificial intelligence and robotics, and fintech, bridging academic innovation with industry application. It combines HKUST’s research ecosystem with Gobi’s pan-Asian venture capital expertise and is supported by HKIC under its Patient Capital Strategic Fund initiative announced in May 2025.
💡Managed by Gobi Partners, the fund has already identified promising HKUST-origin ventures including Lymow, Atom Semiconductor, and Stellerus Technology.
Singapore
The Monetary Authority of Singapore (MAS) has launched BLOOM (Borderless, Liquid, Open, Online, Multi-currency), a new initiative to expand settlement capabilities through tokenized bank liabilities and regulated stablecoins. Building on the foundation of Project Orchid, which explored use cases for a digital Singapore dollar, BLOOM aims to standardize approaches for risk management and interoperability in digital settlement assets. The initiative covers multi-currency, domestic and cross-border payments, and wholesale applications such as treasury management, trade finance, and automated agentic payments.
💡Initial members include Ant International, Circle, Coinbase, DBS, OCBC, Partior, Stripe, StraitsX, and UOB, who will collaborate on distribution and clearing mechanisms, programmable compliance controls, and AI-driven payment automation
Environmental Sustainability
Investors are backing sustainability-linked loans, renewable energy projects, climate innovation pilots, and blended finance funds with measurable environmental and social impacts, including Indonesia’s $110M loan, climate tech grants, Malaysia’s solar expansion and Dana Iklim+, and a $1.07B global climate fund.
Indonesia
ABC Impact, an impact investing firm backed by Temasek and part of Temasek Trust Asset Management, has partnered with DBS and UOB to establish a $110 million sustainability-linked subscription loan facility. The facility, jointly arranged by DBS and UOB, converts ABC Impact’s existing conventional loan into a structure that ties financing to measurable sustainability performance targets.
The initiative supports ABC Impact Fund II, which closed in March 2025 with more than $600 million in assets under management and commitments from investors including Temasek, Temasek Trust, the Asian Development Bank, and Mapletree Investments.
💡Under the loan’s terms, portfolio companies within Fund II will be required to meet sustainability targets such as greenhouse gas emissions reduction and measurable social outcomes across sectors including agriculture, healthcare, education, and financial services.
Singapore-Indonesia
The Climate Impact Innovations Challenge (CIIC), launched by East Ventures and the Temasek Foundation, has awarded Aslan Renewables, Arukah Capital, and SXD AI a total of Rp 10 billion ($603,537) in catalytic funding to pilot their climate solutions in Indonesia.
💡Aslan Renewables won the Energy Transition track with its modular hydropower system; Arukah Capital took the Sustainable Agriculture track for converting agricultural waste into clean energy and bioproducts; and SXD AI claimed the Circular Economy track for its zero-waste garment platform. Sinar Mas Agribusiness & Food also granted Arukah Capital an additional $50,000
Malaysia
Mestron Energy Sdn Bhd, the renewable energy arm of Mestron Holdings Berhad, has signed an MoU with China’s Trina Solar Co., Ltd. (Trinasolar) to jointly expand Malaysia’s renewable energy capacity. Under the agreement, Trinasolar will supply 50MW of high-efficiency Vertex N-type solar modules for Mestron Energy’s upcoming renewable energy projects nationwide.
💡The partnership supports Malaysia’s National Energy Transition Roadmap (NETR) and the government’s goal of achieving net-zero carbon emissions by 2050.
Netherlands-Global
Climate Fund Managers (CFM) announced the final close of its second blended finance facility, Climate Investor Two (CI2), at $1.07 billion, surpassing its initial $1 billion target.
The facility, backed by new commitments of $190 million and a EUR 205 million ($239 million) EFSD+ guarantee from the European Union, is the largest climate adaptation infrastructure fund focused on emerging markets globally. CI2 invests in water, waste, and ocean infrastructure across Africa, Asia, and Latin America, targeting measurable social and environmental outcomes, including safe drinking water for 16.5 million beneficiaries and the protection or restoration of 2.2 million hectares of ecosystems.
CI2 also introduces a Bridge-to-Bond mechanism, facilitated by Sanlam Investments, which enables fixed-income markets to access its asset base. The fund’s guarantee and CFM’s ‘Pillar Assessed Entity’ status with the European Commission allow direct management of EU guarantees and contribution to global initiatives such as Global Gateway.
💡The fund’s blended finance structure combines concessional and private capital across the project lifecycle, reducing risk and mobilizing private sector investment at scale.
Malaysia
Malaysia’s Kumpulan Wang Persaraan (Diperbadankan) [KWAP] has launched Dana Iklim+, the country’s first climate-focused investment fund, with a target deployment of MYR2 billion ($470 million). The fund aims to accelerate Malaysia’s transition to Net Zero by directing institutional capital into infrastructure, private equity, real estate, and nature-based solutions that generate both sustainable financial returns and measurable environmental outcomes.
💡Dana Iklim+ is KWAP’s third catalytic investment program, following Dana Pemacu and Dana Perintis, and is guided by an impact measurement framework aligned with the UN Sustainable Development Goals, targeting co-benefits such as food security, clean water, energy access, and inclusive economic growth.
Aviation
Aviation trends highlight records, safety, and tech adoption. Byron Waller set a global flight record at 16, Qantas plans combined door and stairs procedures to reduce risk, supply shortages delay aircraft production and raise costs, Korean Air adopts Airbus predictive maintenance, and Thailand earns a high ICAO safety score.
Australia
Teenage Australian pilot Byron Waller, 16, has completed a record-setting attempt to become the youngest supported pilot to fly around the world in a light aircraft. Landing at Brisbane Airport on 12 October, Waller’s 41,700 km journey spanned 67 days, 39 legs, and 19 countries, making his flight the most tracked worldwide on FlightRadar24 at the time.
💡Flying a Sling TSi (VH-ZMD), Waller was accompanied by flight instructors on different legs of the expedition. He set out from Brisbane on 9 August 2025, having previously become the youngest pilot to fly around Australia at age 14, despite managing Crohn’s disease.
Australia
Qantas is proposing changes to aircraft door procedures that would have a single workgroup handle both moving stairs and opening/closing doors, aiming to reduce risk and improve control. The airline said the move follows a review showing combined responsibility aligns with industry best practice and cited recent near misses, including a Jetstar plane taxiing with its cargo door open. Qantas stressed there would be no impact on customer service agent hours and that no outsourcing is planned.
💡The Australian Services Union (ASU) criticized the proposal, saying it risks shifting vital safety functions away from in-house staff.ASU assistant national secretary Scott Cowen called the Jetstar cargo-door incident a warning of potential consequences, arguing that highly trained in-house staff provide safety that outsourced models cannot replicate. Qantas maintains the changes would align domestic operations with its international and subsidiary practices without compromising safety.
Global
A joint study by IATA and Oliver Wyman highlights that supply chain challenges in the aerospace industry are delaying production of new aircraft and parts, forcing airlines to adjust fleet plans and keep older planes in service longer.
In 2024, the global commercial aircraft backlog reached over 17,000, far exceeding the 2010–2019 average of around 13,000. The resulting operational costs for airlines are estimated at over $11 billion in 2025, including higher fuel expenses from older aircraft ($4.2 billion), increased maintenance ($3.1 billion), engine leasing ($2.6 billion), and surplus inventory costs ($1.4 billion). Meanwhile, passenger demand grew 10.4% in 2024, outpacing capacity expansion of 8.7% and pushing load factors to 83.5%, further stressing airline operations.
💡The report identifies multiple root causes, including geopolitical instability, raw material shortages, and tight labor markets, and proposes key initiatives to address the supply-demand imbalance. Recommended measures include opening up aftermarket access to reduce dependency on OEMs, improving supply chain visibility, leveraging predictive maintenance and shared data platforms, and expanding repair and parts capacity.
South Korea
Korean Air has signed an agreement to adopt Airbus’s advanced predictive maintenance platform, Skywise Fleet Performance+ (S.FP+), replacing its existing Skywise Predictive Maintenance+ and Health Monitoring tools. The “Control” tier selected by the airline leverages data analytics and natural language processing to detect potential component issues before they occur, reducing Aircraft on the Ground (AOG) events and costs.
💡The system will initially cover Korean Air’s A321neo, A330, A350, and A380 fleets and will extend to Asiana Airlines’ Airbus aircraft after integration. The upgrade supports operational reliability as Korean Air prepares for fleet expansion following its merger with Asiana.
Thailand
Thailand has achieved a high score in the latest International Civil Aviation Organization (ICAO) safety audit, marking a major milestone in the country’s aviation oversight.
The audit, conducted under the Universal Safety Oversight Audit Programme – Continuous Monitoring Approach (USOAP CMA) from 27 August to 8 September 2025, gave Thailand a preliminary score of 91.35% for areas under the Civil Aviation Authority of Thailand’s (CAAT) direct control, well above the global average of 70.50%.
Thailand scored a perfect 100% in Aviation Legislation and Civil Aviation Organization, reflecting a modern legal framework and a well-structured authority.
💡This result highlights significant progress since Thailand was placed under ICAO’s “Red Flag” in 2015, when its Effective Implementation (EI) score was just 33.53%. CAAT attributed the achievement to rigorous preparation and collaboration with stakeholders including Aeronautical Radio of Thailand, Airports of Thailand, the Department of Airports, the Civil Aviation Training Center, and local airlines.
Advanced Air Mobility
AAM is advancing with electric aircraft, heavy-lift drones, and urban delivery solutions. China leads with eVTOLs and large autonomous cargo drones, India is scaling ultra-light delivery drones through startup innovation, and New Zealand demonstrates electric aircraft integration for cargo and future emission-free operations.
China
Ehang has unveiled its new-generation long-range pilotless eVTOL aircraft, the VT35, at a launch event in Hefei, Anhui Province. Building on the earlier VT30 prototype, the VT35 is a two-seater lift-and-cruise model designed for intercity, cross-sea, and cross-mountain travel and is priced at RMB 6.5 million.
💡EHang said the VT35 has completed transition flight tests and is now undergoing airworthiness certification. The company has signed cooperation agreements with Zhejiang Zhiyi UAV Technology and Hainan Fuma General Aviation for VT35 procurement and operations, with plans to expand the platform to include variants for broader applications.
China
Engineers at the Aviation Industry Corporation of China (AVIC) are developing two new VTOL aircraft, including the unmanned AR-E3000 electric model, which completed its first flight in July in Jiangxi province. The prototype, with a 2.3-tonne maximum takeoff weight and 450 kg payload, can fly 200 km at 280 km/h and is aimed at urban transport, emergency response, and logistics.
💡AVIC is also designing a larger hybrid-powered tiltrotor drone with six electric motors, a 600 kg payload, and 600 km range.
China
China has revealed a concept for the Ibis Shadow 60, an unmanned heavy-lift cargo drone based on the Shaanxi Y-9 military transport aircraft, at the 7th China Helicopter Exposition in Tianjin. Developed by Shaanxi Aircraft Corporation under AVIC, the drone features a takeoff weight exceeding 60 tons, making it the largest unmanned cargo aircraft concept publicly disclosed to date.
💡The Ibis Shadow 60 is designed for autonomous or remote-controlled heavy transport missions, capable of carrying vehicles, helicopters, or large equipment for military and disaster relief operations.
India
Indian startup Airbound has raised $8.65 million in seed funding led by Lachy Groom, with participation from Humba Ventures, Lightspeed Venture Partners, and senior leaders from Tesla, SpaceX, and Anduril. The Bengaluru-based firm is piloting drone deliveries with Narayana Health as it advances toward one-cent delivery costs using its ultra-light, blended-wing-body aircraft.
💡Founded in 2020 by 20-year-old Naman Pushp, Airbound’s first drone weighs 3.3 pounds, carries 2.2 pounds of payload, and features a tail-sitter design that launches vertically and transitions to forward flight. A second version—supporting a 6.6-pound payload while weighing just 2.6 pounds—is expected to fly by mid-2026, with production slated for early 2027.
New Zealand-USA
Air New Zealand achieved a milestone in sustainable aviation as Beta Technologies’ Alia CX300 electric aircraft completed its first flight in Tauranga, marking the country’s first electric aircraft flight under the airline’s banner. The CTOL (conventional takeoff and landing) aircraft, part of a four-month demonstrator program, will undergo further testing in Hamilton and on routes between Wellington and Blenheim to evaluate performance across varying conditions.
Selected through Air New Zealand’s Mission Next Gen Aircraft program, the Alia CTOL variant can carry up to 200 cubic feet (5.6 cubic meters) of cargo over nearly 400 kilometers (215 nautical miles). A separate eVTOL version has been ordered by the New Zealand Air Ambulance Service.
💡Supported by 65kW mobile chargers funded through the airline’s Climate and Nature Fund, the program aims to assess operational integration while training pilots and engineers for future emission-free flight operations.
Marine
Arctic shipping is reducing transit times for Europe, while geopolitical tensions and new US port fees are prompting fleet relocations and sanctions. Pakistan is expanding its tanker fleet, and Shell is deploying heavy-lift vessels for offshore oil projects.
China
A Chinese container ship, the Istanbul Bridge, completed a pioneering Arctic voyage to the UK, halving transit times for electric vehicles and solar panels bound for Europe, Xinhua reports. Despite a two-day storm delay off Norway, the ship reached Felixstowe faster than traditional routes via the Suez Canal or around the Cape of Good Hope, which take 40–50 days.
💡The route runs through Russia’s Arctic waters, enabled by melting sea ice as the region warms four times faster than the global average over the past 40 years. China aims to strengthen trade links with Europe amid a U.S. trade dispute, with September exports to Europe up 14% year-on-year, while U.S. shipments fell 27%. The Istanbul Bridge, operated by Sea Legend Container Line, is set to continue to Germany, Poland, and the Netherlands.
China-USA
China has sanctioned five US subsidiaries of Hanwha Ocean, the South Korean shipbuilder formerly Daewoo Shipbuilding & Marine Engineering, accusing them of aiding a US probe into China’s shipping sector.
💡The affected subsidiaries are Hanwha Shipping LLC, Hanwha Philly Shipyard, Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings Corp. The move coincides with the implementation of new Chinese port fees targeting American-linked vessels.
Hong Kong-Singapore
Hong Kong-listed Pacific Basin Shipping is moving half of its bulker fleet to Singapore and reflagging the vessels under its Singapore entity to avoid new US port fees under the USTR Section 301 scheme. Only Singapore-owned or chartered ships will operate on US routes while the fees remain in effect, with strategic management based in Singapore and day-to-day operations continuing across the company’s 11 global offices.
💡The fleet includes 120 handysize and supramax vessels, part of nearly 260 bulkers in total. The move follows Seaspan’s earlier relocation of its headquarters and 100 vessels to Singapore.
Pakistan
Pakistan National Shipping Corporation (PNSC) has approved the purchase of three secondhand tankers for around $193 million, aiming to double its fleet to 30 vessels by 2026. Two aframaxes, Lorex and Nafsika, cost $74.5 million each, while the MR2 tanker Stavenger Poseidon was acquired for $44.15 million, with all expected by December.
💡PNSC has also launched procurement for 12 more tankers. The Ministry of Maritime Affairs said the move is part of efforts to expand Pakistan’s maritime capacity and reduce reliance on foreign shipping.
UK-Singapore
Shell has hired a semi-submersible crane vessel from Singapore’s Bluewhale Offshore for work on the Bonga North project off Nigeria. The 2012-built Blue Gretha, equipped with two 1,800-tonne cranes and accommodation for 618 people, is currently being refurbished and will provide heavy-lift and accommodation services for the $5 billion project.
💡Bonga North involves drilling and completing 16 wells—eight production and eight water injection—modifying the existing FPSO Bonga Main, and installing new subsea infrastructure. The subsea tie-back project is expected to produce up to 110,000 barrels of oil per day, with first oil targeted by the end of the decade
Space
Advances in space include Earth observation satellite constellations, dark matter research, in-orbit and lunar construction technologies, and crewed and robotic lunar missions through Japan-Taiwan collaboration.
Finland-Japan
CEYE and Japan’s IHI Corporation have signed a contract to build an Earth observation satellite constellation for security, civilian, and commercial use. The initial order includes four satellites and an imaging system, with an option for 20 more, aiming for phased commissioning from April 2026.
💡Two of the first four satellites will be assembled and tested in Japan, with a potential expansion to a 24-satellite constellation by 2029.
Global
Researchers may have found a clue in the hunt for dark matter: a mysterious gamma-ray glow near the Milky Way’s center. Using supercomputers, an international team led by Moorits Muru at the Leibniz Institute for Astrophysics Potsdam simulated the galaxy’s formation and mapped where dark matter collisions would emit gamma rays. The resulting maps closely match observations from the Fermi Gamma-ray Space Telescope, suggesting that the glow could originate from colliding dark matter particles. However, the signal could also come from fast-spinning neutron stars, called millisecond pulsars, so definitive proof remains elusive.
💡Future observations with the upcoming Cherenkov Telescope Array may help resolve the mystery by distinguishing between high-energy pulsar emissions and lower-energy dark matter collisions. Meanwhile, researchers plan to test predictions for gamma-ray signals in nearby dwarf galaxies, which could provide further evidence for or against the dark matter hypothesis.
Japan
Space Quarters Inc., a deep-tech startup spun out of Tohoku University, has secured $5 million in seed funding to accelerate development of robotic and electron beam welding systems for building large-scale structures in orbit and on the Moon. The round was led by Frontier Innovations Inc., with participation from Keio Innovation Initiative, Global Brain’s Tokyu Construction – GB Innovation Fund, XTech Ventures, Mitsubishi UFJ Capital, and SMBC Venture Capital.
💡Founded in 2022, Space Quarters is developing autonomous fabrication and assembly technologies that allow modular materials to be joined in orbit, reducing reliance on preassembled launches and enabling larger, more durable space structures. The company has demonstrated its systems in collaboration with Sky Perfect JSAT, JAXA, Obayashi Corporation, and IHI Aerospace, and plans in-space and lunar demonstration missions in 2027–2028.
Japan
Yokogawa Electric and Toyota Motor Corp. are collaborating with JAXA on the Lunar Cruiser, a manned, pressurized rover for Japan’s first standalone crewed lunar mission. Yokogawa will provide R&D and prototype measurement and control systems, including battery monitoring and the rover’s control platform, while Toyota leads overall development.
💡The rover is designed for both crewed and remote operation to enable continuous exploration of the lunar surface, with launch targeted for 2031 or later.
Taiwan-Japan
Taiwan’s Space Agency (TASA) has partnered with Japanese private space company ispace for a lunar payload mission in 2028. Under an $8 million contract, ispace will transport Taiwan’s Vector Magnetometer and Ultraviolet Telescope aboard its fourth lunar mission, Mission 4, marking an expansion of collaboration between Japan’s commercial space sector and Taiwan’s national program. Mission 4 will also carry a Japan-led payload focused on lunar water resource exploration, using ispace’s newly developed Series 3 lunar lander.
💡 The agreement builds on a December 2024 MOU exploring joint lunar missions and follows Taiwan’s participation in ispace’s Mission 2 in 2025, which carried the Deep Space Radiation Probe.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**