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
IMDEX Asia 2025
IMDEX Asia 2025, held from May 6-8 at the Changi Exhibition Centre in Singapore, is a key event for the naval and maritime defence industry. The exhibition will showcase a wide range of technologies, from traditional sectors like shipbuilding and armaments to new innovations in cybersecurity, unmanned systems, and surveillance.
Learn more about IMDEX Asia 2025 here.
Australian Space Summit and Exhibition 2025
The Australian Space Summit & Exhibition will take place from May 27-28 at the International Convention Centre Sydney. This marks the event's fourth consecutive year, bringing together industry leaders to explore advancements in the space sector.
Learn more about the event here.
The Advanced Air Mobility Asia Symposium (AAM Asia)
The Advanced Air Mobility Asia Symposium (AAM Asia) will take place from September 16-18, 2025, at Aichi Sky Expo, Japan. The event will explore Asia’s evolving Advanced Air Mobility (AAM) ecosystem, covering use cases, infrastructure, air traffic management (ATM/UTM), MRO, and regulations.
Learn more about the symposium here.
Summary
Financing & Investments: EPG Breaks Ground on Second Data Center Factory in Malaysia; Granite Asia and Integral Corporation Launch Joint Venture Granite-Integral; MITI Announces Seven Platforms for NIMP2030 Co-Investment Fund; Aspire Secures MAS CMS License and Launches Aspire Yield; GLP Launches First Data Center Fund in China with RMB 2.6 Billion AUM; OpenAI Secures $40 Billion Funding Led by SoftBank to Advance AI Research; and Qualcomm Acquires MovianAI to Boost AI Research and Development
Environmental Sustainability: IAG and Microsoft Extend SAF Purchase Agreement to Reduce Emissions; Wavemaker Impact Launches Nūl, AI-driven Climate Tech Startup with $500K Pre-Seed Investment; Clime Capital’s SEACEF II Reaches $175 Million in Capitalization for Clean Energy Investments; and Pentagreen Capital, BII, and ib vogt Launch $80 Million Clean Energy Initiative in Southeast Asia
Aviation: McDermott Aviation Acquires Transwest Helicopters, Expanding Fire Suppression and Commercial Lift Capabilities; Auckland Airport to Discount Aeronautical Charges After Overcharging Findings; ITU, ICAO, IMO Urge States to Protect Critical Satellite Communication Frequencies; Hong Kong Airlines Expands Fleet Amid Demand Surge; Japan Airlines Considers Domestic Aircraft for International Routes; and BOC Aviation Orders 120 Planes to Expand Fleet to 1,000 by 2030
Advanced Air Mobility: Skyportz Wins Blue Sky Innovation Award for Air Taxi Vertipad Design; and CAAS Seeks Industry Feedback on AAM Guidelines for Drones and Air Taxis
Marine: Consortium to Build Offshore Floating Green Data Center in Yokohama; Japanese Shipyards Launch Collaborative Ship Tech Research Facility at University of Osaka; NYK Line Invests in Taiwanese Offshore Wind Service Company IOVTEC; BW LPG to Sell Two Vessels to BW LPG India for $150M; and HD KSOE Secures $176M Deal for Two Suezmax Tankers with Sonangol
Space: Malaysia Launches SpaceTech Malaysia Association to Drive Space Sector Growth; Pakistan to Send First Astronaut to China Space Station; Papua New Guinea Eyes Space Agency Amidst Financial Concerns; SES and SpeQtral Partner for Satellite-Based Quantum Key Distribution; and MPA Signs MOUs for Geospatial Solutions and Maritime Digital Twin
Financing & Investments
China-Malaysia
China-based data center firm EPG has officially broken ground on its second factory in Malaysia, further expanding its Southeast Asian presence. The new facility, located within Senai Airport City’s Phase 3 development, spans 25.54 acres with an investment of MYR 360 million ($81.38 million).
💡In addition to its new factory, EPG announced a special fund donation to support local talent development programs.
Japan
Granite Asia and Integral Corporation have formed a joint venture, Granite-Integral, to invest in high-growth companies with a strong Japan connection. The venture, launched with $100 million in committed capital, will target technology scale-ups expanding into Japan and Japanese companies seeking global growth.
💡The partnership aims to foster cross-border growth between Japan and international markets, especially in Southeast Asia.
Malaysia
The Ministry of Investment, Trade and Industry (MITI) has selected seven equity crowdfunding (ECF) and peer-to-peer (P2P) financing platforms to participate in the New Industrial Master Plan (NIMP2030) Strategic Co-Investment Fund (CoSIF).
The chosen platforms are pitchIN, Mystartr, Leet Capital, Crowdo, Funding Societies Malaysia, CapBay, and B2B Finpal. These platforms, registered with the Securities Commission Malaysia (SC), will support the growth of SMEs and mid-tier companies in high-tech sectors aligned with NIMP2030.
💡With an initial MYR 131.5 million ($29.64M), CoSIF aims to enhance economic complexity and tech development across 21 strategic sectors. Companies can start applying for CoSIF funding from May 2, 2025.
Singapore
Aspire’s subsidiary ASG2 Pte Ltd has secured a Capital Markets Services (CMS) license from the Monetary Authority of Singapore. The license enables Aspire to offer regulated investment solutions, launching Aspire Yield to help small businesses earn competitive returns on idle capital.
💡Aspire Yield offers flexible investments with no minimums, no lock-up periods, and next-day liquidity.
Singapore-China
GLP, a Singapore-based global investment manager, has launched its inaugural data center fund in China, the GLP China IDC Income Fund I, with an asset under management (AUM) of RMB 2.6 billion ($358 million). Backed by top-tier institutional investors, the fund targets digital infrastructure, a sector GLP has focused on since 2018.
The fund’s seed asset is a fully operational, high-performance data center in the Greater Beijing region, constructed to Tier III+ (T3+) standards and fully leased to a leading e-commerce company. The move capitalizes on the growing demand for digital infrastructure, driven by AI, cloud services, and 5G.
💡GLP operates 20 data centers across key Chinese regions, with a total secured IT capacity of 1.4 GW. The company is committed to sustainability and energy-efficient solutions, managing over $80 billion in assets through its arm, GLP Capital Partners.
USA-Japan
OpenAI Global, LLC has raised $40 billion in funding, led by SoftBank, at a post-money valuation of $300 billion. The new capital will help OpenAI expand its AI research, scale infrastructure, and enhance tools like ChatGPT, which serves 500 million users weekly.
SoftBank, which has invested $2.2 billion through SoftBank Vision Fund 2 since September 2024, views OpenAI as its key partner in achieving Artificial General Intelligence (AGI) and Artificial Super Intelligence (ASI).
💡As part of this collaboration, SoftBank plans to invest up to $30 billion, including a $10 billion follow-up investment to support OpenAI's growth. The funding will also support the "Stargate Project," a dedicated AI infrastructure initiative between SoftBank and OpenAI.
USA-Vietnam
Qualcomm has acquired MovianAI, the former generative AI division of VinAI, a leading AI research company in Vietnam. The acquisition combines VinAI's expertise in generative AI, machine learning, computer vision, and natural language processing with Qualcomm’s extensive R&D capabilities.
💡The move strengthens Qualcomm's commitment to advancing AI technology, enhancing its ability to develop cutting-edge solutions for industries such as smartphones, PCs, and software-defined vehicles.
Environmental Sustainability
Global
International Airlines Group (IAG) and Microsoft are extending their co-funded Sustainable Aviation Fuel (SAF) purchase agreement for five years, further strengthening their efforts to reduce lifecycle carbon emissions across the aviation industry. The new terms include co-funding an additional 39,000 tonnes of SAF, which will help reduce emissions by approximately 113,000 tonnes.
💡The extension marks the largest and longest Scope 3 SAF agreement between an airline and corporate customer. The partnership allows IAG to purchase more SAF, thus lowering its Scope 1 (direct) emissions, while Microsoft addresses its Scope 3 lifecycle emissions, contributing to their goal of carbon negativity by 2030.
Singapore
Wavemaker Impact has launched Nūl Global Technologies, an AI-driven climate tech startup focused on reducing waste in the fashion industry. With a $500,000 pre-Seed investment, Nūl aims to enhance pilot projects in Southeast Asia, expand partnerships, and scale its solution globally.
Co-founded by Malini Kannan and Raghav M. S., Nūl leverages AI to help fashion brands optimize inventory management, reduce overproduction, and minimize waste, addressing significant environmental challenges in an industry responsible for up to 10% of global carbon emissions.
💡The startup’s platform enables accurate demand forecasting, better production planning, and improved inventory allocation, with early trials showing a 10% revenue increase and a potential 50% improvement in sell-through rates.
Southeast Asia
Clime Capital's Southeast Asia Clean Energy Fund II (SEACEF II) has secured $175 million in commitments, reaching its maximum capitalization. The fund aims to provide early-stage, high-risk capital to clean-energy businesses in Southeast Asia, supporting the region's low-carbon transition.
Key investors include Allianz Global Investors, the European Investment Bank, Proparco, and the Asian Development Bank.
💡SEACEF II has already made seven investments in Indonesia, Vietnam, and the Philippines, focusing on renewable energy, energy efficiency, and electric mobility. The fund combines private, public, and philanthropic capital to accelerate the growth of transformative clean-energy companies in the region.
Southeast Asia
Pentagreen Capital, British International Investment (BII), and ib vogt have teamed up to finance $80 million for utility-scale solar and battery storage projects in Southeast Asia. The facility will fund solar, hybrid solar, and battery storage projects in the Philippines, Indonesia, and other Southeast Asian countries, with an initial focus on a 100 MWp solar project in the Philippines.
💡The facility will unlock approximately $300 million in projects, adding 260 MWp of power and 175 MWh of battery storage. The projects aim to enhance clean energy supply, with an estimated reduction of 257,000 tonnes of CO2 emissions annually.
Aviation
Australia
Australia-based McDermott Aviation has acquired Transwest Helicopters, a British Columbia-based operator specializing in Bell 412 fire suppression and commercial lift operations.
💡Transwest was most recently based at Oliver Airport, east of Vancouver. The company’s owners, Ernst-Ulrich and Alison Maas, are retiring after running the business since 2004.
Australia
Auckland Airport will reduce its aeronautical charges over the next two years following a New Zealand Commerce Commission (NZCC) ruling that it overcharged by NZ$190 million (AU$172 million). The commission found that the airport’s projected 8.73% return on aeronautical activities was unreasonably high.
💡While Auckland Airport's planned investments were deemed reasonable, its price hikes were seen as excessive. In response, the airport will target a new return of 7.82%, in line with the NZCC’s recommended range of 7.3 to 7.8%.
Global
The International Telecommunication Union (ITU), the International Civil Aviation Organization (ICAO), and the International Maritime Organization (IMO) have issued a joint statement expressing grave concern over increasing interference with aviation, maritime, and satellite telecommunications services. The interference, including jamming and spoofing, is disrupting Global Navigation Satellite Systems (GNSS) within the Radio Navigation Satellite Service (RNSS) frequency bands.
💡The three organizations emphasized the serious risks posed to safety in aviation and maritime operations. The agencies urged member states to urgently protect these critical systems.
Hong Kong
Hong Kong Airlines is seeking to acquire more aircraft from the used market due to long wait times for new planes. Currently operating 30 aircraft, the airline aims to grow its fleet by a third in the short term.
💡Zhan Guicai, VP of the airline, highlighted strong demand for long-haul flights, citing the success of its Hong Kong-Vancouver route. The airline plans to expand its long-haul network, including new services to Sydney and Melbourne. Zhan is in talks to lease five to ten aircraft, but rejected the B787-8, considering it too small for its needs.
Japan
Japan Airlines (JAL) is exploring the use of dedicated domestic-service aircraft on international routes to improve fleet utilization. The aircraft, featuring domestic cabin configurations, are likely to operate from secondary airports like Hiroshima International. While the concept is under consideration, challenges such as a pilot shortage may delay the plan.
💡JAL currently operates 199 aircraft, distinguishing between domestic and international configurations, including different cabin layouts for its B787-8, B767-300ER, and B737-800 fleets.
Singapore
BOC Aviation, one of the world’s largest aircraft leasing companies, has placed an order for 120 single-aisle aircraft to expand its fleet to 1,000 by the end of the decade.
💡The Singapore-based firm, majority-owned by Bank of China, ordered 70 A320neo family planes from Airbus and 50 737 MAX 8 jets from Boeing.
Advanced Air Mobility
Australia
Skyportz has won the Blue Sky Innovation Award at the Avalon International Airshow for its air taxi vertipad design. The design addresses down-wash safety concerns, with research from Swinburne University showing that the Skyportz modular vertipad dissipates energy 250% faster than flat tarmac, reducing the land size needed for vertiports.
💡The company is in discussions to license its technology worldwide as demand for vertiports grows. The Skyportz vertipad is protected by a provisional Australian patent.
Singapore
The Civil Aviation Authority of Singapore (CAAS) is gathering industry feedback on new Reference Materials for the operation of eVTOL aircraft and uncrewed aircraft systems (UAS), developed by 24 Asia-Pacific states. The guidelines cover key areas such as certification, entry into service, regulatory cooperation, economic policies, and training.
💡The materials aim to streamline regulations, reduce investment risk, and support industry development. Feedback is open from April 2 to 23, 2025, with the final materials set for publication in July 2025.
Marine
Japan
A consortium comprising NYK Line, NTT Facilities, Eurus Energy Holdings, MUFG Bank, and the city of Yokohama has signed a MOU to develop an offshore floating green data center. The project aims to address the need for large, disaster-resilient sites near major consumption areas by exploring offshore locations.
A demonstration experiment will begin in the fall of 2025 using a 25m by 80m mini-float moored at Yokohama Port’s Osanbashi Pier. The experiment will assess the viability of a data center powered entirely by renewable energy, featuring solar power, battery storage, and a container-type data center.
💡Future expansion could involve waterfront and marine areas of Yokohama Port, with potential offshore data centers located near offshore wind farms to maximize renewable energy usage.
Japan
Top Japanese shipyards Imabari Shipbuilding and Japan Marine United, alongside ClassNK and MTI (Nippon Yusen Kaisha's research arm), are partnering to create the Open Collaboration Laboratory for Enabling Advanced Marine Systems (OCEANS) at the University of Osaka.
Located in the Techno Alliance Building at the Graduate School of Engineering, the facility aims to advance the development of next-generation ships with innovative designs, excellent environmental performance, and enhanced safety features.
💡The initiative responds to challenges such as geopolitical risks, climate change, and the need for rapid technological adaptation in the maritime industry.
Japan-Taiwan
Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) has made a strategic investment in Taiwanese offshore wind service company IOVTEC, along with its subsidiaries under the IOG Group, through the subscription of newly issued stock shares. This investment aims to support the growth of Japan’s offshore wind power industry and strengthen NYK’s position in the Taiwan market.
💡The partnership will also focus on expanding offshore wind projects across the Asia-Pacific region. IOVTEC provides comprehensive services for offshore wind farms, including marine surveys, construction support, vessel chartering, and long-term operation and maintenance across the wind farm lifecycle.
Singapore-India
BW LPG has signed a memorandum of agreement to sell two vessels, the BW Pampero and BW Chinook, to its joint venture, BW LPG India, for approximately $75 million each.
The vessels, acquired in the recent Avance Gas transaction, will be delivered by the third quarter of 2025. BW LPG India, which currently owns India’s largest and youngest fleet of very large gas carriers, will use the sale to further expand its fleet and strengthen its presence in the Indian market.
💡The company, a joint venture established in 2017, plays a key role in importing around 20% of LPG into India. BW LPG holds a 52% stake in the venture, with Maas Capital Shipping owning 42%.
South Korea
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has finalized a $176 million deal with Angola's state-controlled oil company, Sonangol, for two new Suezmax tankers. The 157,000 dwt vessels are scheduled for delivery by May 2027. This follows a letter of intent reported in February, with initial estimates of the deal at $190 million.
💡In another related order, Hanwha Ocean secured a $257 million contract for two VLCCs, to be delivered in May 2027.
Space
Malaysia
Malaysia has formally launched the SpaceTech Malaysia Association (SMA), aimed at advancing the country’s space capabilities. Aligned with the National Space Policy 2030 and Malaysia Space Exploration 2030 framework, SMA will unite government, academia, industry, and investors to enhance satellite infrastructure, AI space applications, and global collaborations.
💡Led by Datuk Dr. Sean Seah, the association aims to reduce foreign dependency, improve national security, and contribute to the global space economy. With six major initiatives already in progress, SMA is positioning Malaysia for a competitive role in the projected $1 trillion global space market by 2040.
Pakistan-China
Pakistan will send its first astronaut to the China Space Station (CSS) under an agreement with the China Manned Space Agency (CMSA). The astronaut selection process, focusing on Suparco scientists and experienced pilots aged 30-45, will conclude in 2025, with training in China starting in 2026. The mission will involve conducting scientific experiments in areas like medical sciences and aerospace.
💡This marks a significant milestone in Pakistan-China cooperation and Pakistan’s entry into space exploration.
Papua New Guinea
Papua New Guinea's national cabinet is under scrutiny for fast-tracking a development agenda that includes the establishment of a national space agency and the Kumul Satellite Project, part of a broader initiative to mark the country’s 50th anniversary of independence. Despite government support, critics argue the space-related plans are fiscally irresponsible, particularly given PNG’s reliance on over $3 billion in Australian budget aid and ongoing struggles with essential public services.
💡The satellite program and other high-tech initiatives, such as post-quantum cryptography and a Silicon Valley-style hub, have been deemed unrealistic and potentially diverting resources from sectors like healthcare and education. Although officials state most projects will be executed by the private sector with limited direct funding, skepticism surrounds the feasibility of PNG’s space ambitions amid economic constraints.
Singapore
SES and Singapore’s SpeQtral have signed an MoU to develop an Optical Ground Station (OGS) for long-distance satellite-based Quantum Key Distribution (QKD) between Asia and Europe. The collaboration will connect SES’s European QKD projects with SpeQtral’s satellite missions, positioning Singapore as a regional quantum innovation hub.
💡The OGS, first deployed in Singapore, aims to reduce the complexity and cost of quantum communications to foster global, secure quantum networks.
Singapore
During Singapore Maritime Week 2025, the Maritime and Port Authority of Singapore (MPA) announced two MOUs aimed at enhancing maritime geospatial capabilities. The first, a three-year collaboration with industry partners and tech firms, focuses on using geospatial technologies like satellite imagery and 3D mapping to improve port operations and risk management. The second MOU, with the National University of Singapore, will develop maritime geospatial education programs.
💡Singapore has also launched its first Maritime Digital Twin—a real-time virtual port model for vessel tracking and underwater inspections.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**