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.
Industrial Transformation ASIA-PACIFIC (ITAP) 2025
Industrial Transformation ASIA-PACIFIC (ITAP), the region’s leading Industry 4.0 event, will return to Singapore EXPO from 15–17 October 2025. The event connects global industry leaders and innovators to accelerate digital transformation, showcase cutting-edge manufacturing technologies, and promote sustainable industrial practices.
Learn more about the event here.
Summary
Financing & Investments: Australia Launches $271M Additive Manufacturing Research Centre; Cambodia and Japan to link QR payment systems for seamless cross-border transactions; China Adopts First Law to Boost Private Economy; Bhutan eyes green crypto mining to power economy and curb youth exodus; Capital A Eyes Hong Kong Listing to Fuel Regional Growth and Global Exposure; Durapower eyes U.S. battery plant, seeks JV partners at ACT Expo; Slate picks SK On for $2.8B U.S. battery deal to power budget EV pickups; and LG Group boosts Indonesia battery plant investment by $1.7B
Environmental Sustainability: Laos, UN Launch Green and Climate Finance Initiative for Sustainable Development; Japan Launches AZEC-SAVE to Boost Thailand’s Energy Efficiency; EdgePoint Launches First Solar Hybrid Telecom Site in Malaysia; EVA Air Expands SAF Use with Global and Local Supply Deals; and Vietnam boosts solar and wind targets in revised energy roadmap
Aviation: Launceston Airport Launches Major Upgrade to Boost Freight Capacity; EASA Chief Predicts C919 European Certification at Least Three Years Away; India, China Begin Talks to Restore Direct Flights After Four-Year Freeze; India Closes Airspace to Pakistani Aircraft Amid Rising Tensions; Queenstown Airport Launches NZ$22M Terminal Expansion and Seismic Upgrade; and Thai Airways Files Petition to Exit Rehabilitation and Eyes a Stronger Future
Advanced Air Mobility: Zhiyuan Research Institute Unveils World's First Tri-Ducted Wearable eVTOL for Individual Use; EHang Showcases EH216-S eVTOL Aircraft at FAMEX 2025; SiriNor Tests World’s First All-Electric Jet Engine, Marks Key Step Toward Commercialization; and Korean Air Unveils KRW 1.2 Trillion UAM and Aviation Safety R&D Hub
Marine: Australia Launches World’s Largest Electric Ship, Hull 096; Our Ocean Conference Marks 10th Anniversary with $133 Billion in Ocean Action Funding; Singapore, Nordics Launch Virtual Watch Tower to Boost Supply Chain Visibility; Petrobras and Vale Partner for Renewable Content Bunker Testing; and SK Incheon Petrochemical Launches B30 Biofuel for Shipping
Space: Declassified U.S. Spy Satellite Imagery Aids Cambodian Demining Efforts; China Eyes First Overseas Launch Site in Malaysia; Singapore Boosts Satellite Partnerships for Climate and Geospatial Innovation; Thailand’s NT Taps China’s SpaceSail for LEO Satellite Internet; and Vietnam and Japan Strengthen Space Ties with Focus on LOTUSat-1
Financing & Investments
Australia
Australia has launched a $271 million Additive Manufacturing Cooperative Research Centre (AMCRC) to position itself as a global leader in sustainable, advanced manufacturing. Backed by $58 million from the Commonwealth Government, the centre brings together 101 partners—including Boeing, SMEs, and 13 universities—to accelerate the adoption of 3D printing technologies across sectors like aerospace, defence, healthcare, and construction.
💡The AMCRC aims to shift Australia from small-scale prototyping to full-scale additive production, reducing material costs and lead times. It will also support workforce development through industry-led PhDs and vocational training
Cambodia-Japan
The two-phase rollout starts with Bakong users paying via JPQR in Japan during the Osaka-Kansai Expo 2025, followed by Japanese users using KHQR in Cambodia by year-end.
💡The partnership aims to streamline payments for travelers and businesses, reduce currency exchange needs, and boost tourism and e-commerce.
China
On May 2, China’s national lawmakers passed the country’s first law specifically aimed at promoting the private economy. Set to take effect on May 20, the law addresses key areas such as fair competition, investment promotion, and protection of private enterprises’ rights.
💡By emphasizing the vital role of the private sector in driving economic growth, innovation, and employment, the law aims to create a more transparent and predictable business environment.
Bhutan
Bhutan’s sovereign wealth fund, Druk Holding and Investments, is leveraging its 100% hydropower-based energy grid to mine green cryptocurrencies, aiming to boost the economy and reduce youth migration.
Since 2019, crypto profits have helped pay government salaries, while future plans target large-scale mining expansion and training in blockchain and AI.
💡Officials hope Bhutan’s digital coins will appeal to global firms seeking ESG-compliant assets, with hydropower capacity set to rise from 3.5 to 15 gigawatts over the next 15 years.
Malaysia-Hong Kong
Capital A is in advanced talks to pursue a potential listing on the Hong Kong Stock Exchange, aiming to tap deeper global and Mainland Chinese investor pools.
The move is part of its broader strategy to scale its digital and aviation businesses—including Teleport, Asia Digital Engineering, and AirAsia MOVE—following its expected exit from Malaysia’s PN17 financial distress category by mid-2025.
💡CEO Tony Fernandes described Hong Kong as a “natural capital markets gateway,” reinforcing the firm’s ambition to expand investor access and accelerate regional growth.
Singapore-USA
Singapore-based Durapower Technology is planning to establish a lithium-ion battery manufacturing facility in the United States as part of its global expansion. The company is actively seeking joint venture partners and is using the ACT Expo in California and the SelectUSA Investment Summit in Washington, D.C. to initiate discussions.
💡With operations in 25 countries and over 1 billion electric kilometers driven, Durapower aims to expand its footprint in key segments such as e-mobility, marine, industrial, and energy storage systems through scalable and sustainable battery technologies.
South Korea
EV startup Slate, backed by Jeff Bezos, has signed a US$2.8 billion deal with South Korea’s SK On to supply 20GWh of U.S.-made batteries for its compact electric pickup trucks from 2026 to 2031. Aiming to offer two-seat EV pickups under $30,000, Slate’s cost-focused approach contrasts with higher-end rivals like Tesla’s Cybertruck.
💡The partnership reinforces SK On’s growing U.S. presence, building on its existing supply relationships with automakers like Rivian.
South Korea-Indonesia
South Korea’s LG Group will inject an additional US$1.7 billion into its electric vehicle battery cell plant in West Java, Indonesia, raising the total investment in the facility to US$2.8 billion.
The project, a joint venture with Hyundai Motor Group under HLI Green Power, aims to strengthen Indonesia’s EV manufacturing capabilities.
💡The move comes after LG Energy Solution withdrew from a separate US$8.46 billion EV battery supply chain project in the country due to market uncertainties.
Environmental Sustainability
Laos
Laos, in partnership with the United Nations and Luxembourg, has launched a two-year green and climate finance programme to drive sustainable development. The initiative, announced on May 2 aligns with the country's 9th National Socio-Economic Development Plan and aims to promote economic transformation, environmental sustainability, and resilience.
💡The programme, which involves several UN agencies and key Lao ministries, will focus on green finance mechanisms, nature-based solutions, climate-smart agriculture, and sustainable urban planning. It also supports Laos' ambitions for Least Developed Country graduation by 2026.
Japan-Thailand
Japan has launched the AZEC-SAVE initiative to help Thailand cut emissions and improve energy efficiency across its industrial sector. The program, part of the broader Asia Zero Emission Community (AZEC), offers technical expertise and financing through Japanese agencies like JBIC, JETRO, and NEDO.
💡Focusing on manufacturing, smart grids, and renewables, AZEC-SAVE targets key Thai industries with energy-saving technologies and financial tools. It promotes a step-by-step "Kaizen" approach—starting with tracking energy use before transitioning to renewables.
Malaysia
EdgePoint Towers, a unit of ASEAN telecom infrastructure leader EdgePoint Infrastructure, has launched its first solar hybrid site in Malaysia. The site, with a 5.9 kWp capacity, operates on solar power with battery backup and is expected to reduce annual carbon emissions by 78%.
💡EdgePoint plans to roll out more solar or hybrid sites nationwide by the end of 2025, aiming to lower operational costs and emissions while maintaining high connectivity standards.
Taiwan
EVA Air has signed sustainable aviation fuel (SAF) agreements with AEG FUELS (U.S.), COSMO Oil (Japan), and Formosa Petrochemical (Taiwan), reinforcing its commitment to carbon reduction and net-zero emissions by 2050.
Starting in Q2 2025, EVA Air will independently integrate SAF at key hubs in North America, Japan, and Taiwan. The airline already uses 2% SAF on all EU departures, aligning with European policy.
💡EVA introduced locally produced SAF on April 23, 2025, for international flights from Taipei and Kaohsiung.
Vietnam
Vietnam has sharply raised its solar and wind energy targets under an updated national power plan to meet rising electricity demand and reach net-zero emissions by 2050.
💡The revised Power Development Plan 8 now sets 2030 goals of 73 GW for solar and 38 GW for onshore wind, with a leap to 296 GW and 230 GW respectively by mid-century.
Aviation
Australia
Launceston Airport has commenced its most significant airfield upgrade in over 60 years with the construction of Taxiway Foxtrot, a new A$5 million project aimed at enhancing freight capacity.
The upgrade, expected to be completed by late Spring, will support larger aircraft like the Airbus A321, capable of carrying 40% more freight than the Boeing 737. The development is set to improve operational efficiency, providing quicker access for local producers to broader markets.
💡This marks the first new airfield infrastructure since the 1964 runway extension, signaling Launceston Airport’s growth alongside rising passenger traffic and expanded freight capabilities.
China-Europe
Comac's C919 twinjet, which received certification from China’s Civil Aviation Administration in 2022, is unlikely to be certified in Europe for at least three years, according to European Union Aviation Safety Agency (EASA) Executive Director Florian Guillermet.
💡Speaking to L'Usine Nouvelle, Guillermet stated that the certification process could take between three to six years, with EASA having informed Comac that approval would not be granted this year.
India-China
OAG reports that India and China have initiated discussions to resume direct air services, suspended since 2020 due to the pandemic and escalating border tensions. While the timing may be coincidental, the move aligns with strategic interests on both sides.
For China, facing a 76% plunge in US-bound flights since 2019 and ongoing trade tensions, India presents a high-growth alternative. For India, connectivity with China is vital to support its airport hub ambitions and to utilize its expanding fleet, with 1,800 aircraft on order over the next two decades.
💡With negotiations just beginning, the talks signal a potential shift toward regional growth and diversification—showcasing how emerging opportunities can arise even from prolonged disruption.
India-Pakistan
India has issued a Notice to Airmen (NOTAM) restricting its airspace to all aircraft registered, operated, or leased by Pakistan, including both commercial and military flights.
The closure, effective from April 30 to May 23, 2025, follows escalating tensions after the Pahalgam terror attack. Pakistani carriers like Pakistan International Airlines (PIA) are forced to reroute flights via longer paths, increasing operational costs and flight durations.
💡This move mirrors Pakistan's earlier closure of its airspace to Indian airlines on April 24, further intensifying the situation. Both nations remain on high alert, with diplomatic calls for restraint.
New Zealand
Queenstown Airport has begun a major terminal expansion and seismic strengthening initiative worth NZ$22 million. The NZ$12 million terminal extension will add 800m² of operational space and a non-passenger screening room, with completion targeted for early 2027.
Simultaneously, a NZ$10 million programme will reinforce the terminal’s earthquake resilience through steel bracing and micropiling, with work scheduled at night to avoid disruptions.
💡Electrical infrastructure will also be upgraded, including a new transformer and power centres to support future operations.
Thailand
Thai Airways has submitted a petition to the Central Bankruptcy Court to exit its business rehabilitation plan, aiming to officially complete the process by late May or early June. This move paves the way for the airline to resume trading on the Stock Exchange of Thailand (SET) by July.
The airline's rehabilitation process has been marked by strong financial performance, including a significant EBITDA of 41.47 billion baht in 2024—more than double the 20-billion-baht target required to exit rehabilitation. Through successful debt-to-equity conversions and a capital increase, Thai Airways also achieved positive shareholders’ equity of 45.5 billion baht by the end of 2024.
💡Once the court approves the petition, Thai Airways will appoint a new 11-member Board of Directors and resume its presence on the stock exchange. The airline's next steps focus on maintaining strong performance, upgrading its services and products, and expanding its fleet as part of a long-term recovery plan.
Advanced Air Mobility
China
China’s Zhiyuan Research Institute has unveiled the world’s first tri-ducted wearable eVTOL, designed for individual use. The ehicle features a tri-ducted propulsion system with power propellers positioned on the left, right, and rear to improve aerodynamic efficiency, enhance noise control, and ensure reliability during hover mode.
The eVTOL includes a safety system for quick parachute deployment and is controlled by a ground station for stable, hands-free flight.
💡The vehicle is earmarked for applications in emergency rescue, infrastructure maintenance, sightseeing, and more.
China-Mexico
EHang showcased its EH216-S uncrewed eVTOL aircraft at Feria Aeroespacial México (FAMEX) 2025, in collaboration with AirMobility MX.
💡This marks a key step in the company’s expansion across Mexico and Latin America, helping build regulatory trust and advancing its certification for person-carrying operations.
Norway-India
SiriNor, a Norwegian aerospace company with an Indian subsidiary, has successfully tested what it claims is the world’s first all-electric jet engine at its Pune facility on April 22. The test, which achieved a Technology Readiness Level 6 under NASA’s framework, exceeded the design targets of 40,000 RPM and 10 kgf thrust.
💡The company plans to launch UAV engine commercialization by mid-2026. SiriNor’s engine could reduce manufacturing and maintenance costs by up to 40% and is compatible with both battery and hydrogen power sources.
South Korea
Korean Air has announced a major investment of KRW 1.2 trillion (US$845 million) to build a next-generation Urban Air Mobility (UAM) and Aviation Safety R&D Center in Bucheon, Gyeonggi Province.
The new hub, set to break ground in 2027 and open by 2030, will focus on uncrewed aircraft vehicle (UAV) development, flight training, and safety advancements, supporting both commercial and defense innovations.
💡The facility will be one of Asia’s largest pilot training centers, consolidating Korean Air and Asiana Airlines’ flight operations, with capacity to train up to 21,600 pilots annually.
Marine
Australia
Australia has unveiled Hull 096, the world’s largest battery-powered ship, marking a major milestone in sustainable maritime travel. Built by Tasmanian shipbuilder Incat and commissioned by South American ferry operator Buquebus, the 130-meter vessel will operate on the River Plate between Argentina and Uruguay.
💡Designed to carry 2,100 passengers and 225 vehicles, Hull 096 is powered by a 250-tonne, 40 MWh battery system—making it the most powerful electric maritime vessel ever constructed. Its eight waterjet drives operate without fossil fuels, cutting emissions and noise pollution while demonstrating the viability of large-scale electric ferry transport.
Global
The 10th Our Ocean Conference (OOC) has successfully mobilized $133 billion in funding for ocean action over the past decade, according to a new report from the World Resources Institute (WRI). The conference, which began in 2014, has led to over 2,600 ocean-related commitments totaling $160 billion. Key areas of focus included ocean-climate projects, marine protected areas, and sustainable fisheries.
A substantial portion of commitments, totaling $86.8 billion, was dedicated to ocean-climate solutions like offshore wind and blue carbon projects.
💡While significant progress has been made, the report stresses the need for greater ambition to meet global ocean targets, such as the High Seas Treaty and the 30x30 goal.
Singapore
Singapore, in collaboration with Nordic partners, has launched the Virtual Watch Tower (VWT) — a digital platform that enhances global supply chain visibility through real-time data sharing. The VWTnet system aggregates transport data from various sources into a federated network, enabling authorised parties to track goods and respond to disruptions more effectively.
💡Co-developed with partners including PSA International, RISE (Sweden), and A*STAR, the platform is community-driven, allowing users to co-create solutions. A new feature, MicroShare, will support data collection from smaller logistics actors using IoT technology.
Singapore-Brazil
Petrobras, through Petrobras Singapore, has formed a commercial partnership with Vale for fueling a vessel with Very Low Sulfur (VLS) B24, a marine fuel with 24% second-generation biodiesel. The test, conducted with Oldendorff Carriers, involved fueling the bulk carrier Luise Oldendorff in Singapore on April 22, 2025.
💡The VLS B24 fuel was developed by Petrobras Singapore using a blend of 76% fossil fuel oil from Petrobras refineries and 24% UCOME, a biocontent fuel made from used cooking oil (UCO) sourced locally. Petrobras Singapore holds ISCC EU certification, ensuring sustainability throughout the biofuel’s supply chain.
South Korea
SK Incheon Petrochemical has begun the domestic production and supply of B30 biofuel for the shipping industry. The fuel, which is a blend of 30% bio-based materials and proprietary straight run fuel oil (SRFO), was introduced on April 26, 2025.
Developed in collaboration with JC Chemical and SK Innovation’s research institute, the B30 fuel complies with ISO 8217 standards and is expected to reduce carbon emissions by 25%.
💡Certified by ISCC EU, it also meets the IMO’s 2030 greenhouse gas reduction targets. SK Incheon Petrochemical aims to expand its reach in both the West Sea region and global markets.
Space
Cambodia
Cambodia’s mine clearance operations are gaining new momentum thanks to the use of declassified U.S. HEXAGON satellite imagery from the Cold War era.
The HALO Trust is leveraging these 1970s–80s reconnaissance images—publicly released in 2011—alongside modern geospatial tools to locate forgotten roads likely seeded with landmines.
💡With millions of mines still unaccounted for, this approach is helping prioritize high-risk areas, offering a powerful example of how historical satellite data can support humanitarian recovery and post-conflict reconstruction.
China-Malaysia
China is exploring its first overseas spaceport in Malaysia’s Pahang state, aiming to boost launch efficiency with an equatorial site. Partnering with the Pahang State Development Corporation and Lestari Angkasa Sdn Bhd, the project begins with a one-year feasibility study. If successful, the Pahang International Spaceport could launch within 3–5 years and create over 2,000 jobs.
💡The move aligns with China's broader push to expand global space infrastructure and strengthen ties with Malaysia, following President Xi Jinping’s recent state visit.
Singapore
At the 2025 Global Space Technology Convention, the Singapore Land Authority (SLA) signed MoUs with the Office for Space Technology and Industry (OSTIn) and NUS’s Centre for Remote Imaging, Sensing and Processing (CRISP) to enhance the use of satellite imagery and Earth observation data.
The agreements aim to support climate resilience, humanitarian efforts, and advanced geospatial research in carbon mapping and national development.
💡SLA also announced the expansion of its SiReNT satellite positioning network, reinforcing Singapore’s push to integrate space-based technologies into smart city planning and environmental monitoring.
Thailand-China
Thailand’s National Telecom (NT) has partnered with China’s Shanghai Spacesail Technologies to boost digital connectivity using the SpaceSail LEO satellite constellation.
💡Announced during China’s Space Day, the agreement will extend satellite internet to underserved regions in Thailand, complementing NT’s existing OneWeb services. While OneWeb targets enterprise users, SpaceSail will broaden access for consumers and vertical industries.
Vietnam-Japan
Vietnam and Japan have reaffirmed their space partnership through a joint communiqué during Prime Minister Ishiba Shigeru’s April 2025 visit to Hanoi, spotlighting the upcoming launch of Vietnam’s LOTUSat-1 Earth observation satellite.
The agreement outlines joint efforts in satellite operations, technology transfer, and workforce training, framing the project as a key pillar of scientific collaboration.
💡Beyond space, the partnership also aims to foster cooperation in cutting-edge fields including semiconductors, AI, and quantum science, aligning with Vietnam’s broader push to develop sovereign space capabilities and deepen integration into the regional space economy with Japan’s support.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**