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
Asian Sky Forum 2025
The Asian Sky Forum 2025 will take place from June 24–26 at the Avani+ Riverside in Bangkok, Thailand. With 200 to 250 attendees expected, the forum will bring together key stakeholders including aircraft operators, owners, charter companies, MRO providers, financiers, regulators, and industry suppliers for networking and in-depth discussions on the future of business aviation in Asia.
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: Amazon’s A$20B AI-Cloud Push in Australia; Eve Energy Plans Hong Kong Listing to Fuel Global Expansion; Mizuho Nears Majority Stake Deal in India’s Avendus; DBS Becomes First Singapore Firm to Top US$100B Valuation; MAS Tightens Rules on Overseas-Focused Crypto Firms; Sleek Raises US$23M to Scale SME Services; Atome Secures US$75M to Expand Lending in Philippines; and $1B Data Centre Project to Boost AI and Cloud Services in Thailand
Environmental Sustainability: ADB and GEAPP Launch ENABLE for Battery Storage in Asia-Pacific; Peak Energy Acquires 11 MW Solar Projects Across Japan; Turmec and Environmental Group Awarded NZ$7.1M Recycling Contract in Dunedin; Singapore’s ACRA Rolls Out Sustainability Reporting Body of Knowledge; Saft to Supply 1 GWh Battery Storage for Japan’s Gurīn Energy Project; and Vietnam Launches Pilot Emissions Trading Scheme Targeting Heavy Industries
Aviation: McDermott Aviation to Introduce Three Transall C-160 Aircraft for Firefighting; Qantas Group to Close Jetstar Asia, Reallocate A$500 Million Capital; APS Malaysia Facility Certified by CAAM as Regional Propeller MRO Centre; Air New Zealand Trials Starlink Wi-Fi and Plans Auckland-Western Sydney Route; Changi Airport Awards S$999 Million Contract for Terminal 5 Intra-Terminal Tunnels
Advanced Air Mobility: CASA Consults on Vertical Flight Facility Guidelines; Skyportz Updates Modular Vertipad for AAM; GAC Debuts GOVY AirCab eVTOL in Hong Kong; and Abu Dhabi Completes First Autonomous Passenger eVTOL Test Flight
Marine: Australia: NH3 Clean Energy Signs JDA for Low-Emission Ammonia Bunkering; Philippines: DOE Launches 3.3 GW Fixed-Bottom Offshore Wind Auction; Singapore: Kim Heng and SGEI Partner on ASEAN Submarine Power Cable Maintenance; Taiwan: Lightsource bp Secures TWD 6 Billion for Fishery Solar Project; Vietnam: Ministry of Construction Approves Hai Phong Port Expansion Plan
Space: China’s Meishan Emerges as a Major Satellite Industry Hub by 2030; Indonesia and France Strengthen Digital Cooperation with Focus on Cybersecurity and Connectivity; Japan and Malaysia Expand Space Partnership Under 2030 Exploration Strategy; SITA Launches Managed Satellite Service to Ensure Airport Connectivity Worldwide; Kacific and Supernet Partner to Expand Satellite Broadband in Rural Pakistan; Tomorrow.io Brings AI-Powered Weather Forecasting to Filipino Farmers; and Vietnam Unveils 21 Grand Science and Tech Challenges
Financing & Investments
Australia
Amazon has unveiled plans to invest A$20 billion (US$13 billion) in Australia from 2025 to 2029 to expand and upgrade its data center infrastructure, with a focus on supporting AI and cloud services. The commitment, welcomed by PM Anthony Albanese, also includes investment in new solar farms in Victoria and Queensland.
💡It marks Amazon’s largest tech investment in the country and aligns with a global push by major firms to scale AI and cloud capabilities.
Hong Kong
Eve Energy (SHE: 300014), one of China’s top EV battery makers, plans to list H-shares on the Hong Kong Stock Exchange to boost its global brand and support international expansion. The move, approved by its board on June 7, follows similar listings by rivals like CATL and is now progressing with the help of financial intermediaries.
💡Eve ranked ninth globally in battery installations from January to April with 8.3 GWh and held a 3.7% market share in China as of April. It will join other Chinese battery firms trading in Hong Kong, including CATL, CALB, Rept Battero, and Zenergy.
Japan-India
According to media reports, Mizuho Financial Group is nearing a deal to acquire a majority stake in Indian investment bank Avendus Capital, valuing the company at approximately US$800 million. The Japanese lender plans to purchase KKR & Co’s 63% holding and additional shares from minority investors, potentially raising its total stake to about 70%.
💡The acquisition would expand Mizuho’s footprint in India’s fast-growing capital markets, echoing its strategy in the U.S., where it acquired Greenhill & Co to boost M&A advisory.
Singapore
DBS Group Holdings has become the first listed company in Singapore to surpass a market valuation of US$100 billion, driven in part by a weakening U.S. dollar. Shares of Southeast Asia’s largest bank rose 0.9% on June 9, lifting its market cap to S$129.2 billion.
💡The milestone reflects strong year-to-date performance, supported by gains in wealth management and lending, as well as a 6% appreciation of the Singapore dollar against the greenback. DBS now ranks 22nd among global banks by value, ahead of Sumitomo Mitsui but behind HSBC.
Singapore
The Monetary Authority of Singapore (MAS) has confirmed that, starting 30 June 2025, digital token service providers (DTSPs) catering solely to overseas customers will require a license under the Financial Services and Markets Act 2022. However, MAS stated it will generally not grant such licenses due to elevated money laundering risks and supervision challenges. These firms must cease operations if unlicensed.
💡Providers serving Singapore-based clients remain unaffected, as they are already regulated. The new rules do not apply to tokens used solely for utility or governance purposes.
Singapore-Australia
Digital corporate services provider Sleek has raised US$23 million in a Series B round led by Australia’s Ellerston Capital, with support from SaaS firm Money Forward.
💡The funding will enhance Sleek’s automation technology and expand its SME-focused services across Singapore, Hong Kong, the UK, and Australia.
Singapore-Philippines
Atome has obtained a US$75 million asset-backed financing facility from Lending Ark to boost its credit services in the Philippines. The deal, arranged via the Lending Ark Asia Secured Private Debt Fund advised by CITIC Securities CLSA Capital Partners, supports growing demand for mobile-first financial access.
💡Atome, part of Advance Intelligence Group, saw strong FY2024 results with US$280 million in revenue and a US$2.5 billion GMV.
Thailand
B.Grimm Power and Singapore’s Digital Edge are investing $1 billion to build a 100MW data centre in Chon Buri, Thailand, with operations planned for Q4 2026. The facility aims to support growing demand for AI, cloud, and digital services in Southeast Asia and will run entirely on renewable energy, aligning with sustainability goals.
💡B.Grimm Power is also exploring an additional $1.6 billion investment to expand data centre capacity further.
Environmental Sustainability
Asia
The Asian Development Bank (ADB) and the Global Energy Alliance for People and Planet (GEAPP) have launched the ENABLE platform to accelerate the adoption of battery energy storage systems (BESS) in Asia-Pacific. Backed by a $750,000 grant, ENABLE aims to fast-track storage deployment through technical assistance, pilot project support, and policy development.
The initiative targets Vietnam, Mongolia, and Cambodia initially, addressing barriers such as high costs, limited expertise, and financing constraints, all critical to supporting the region’s clean energy expansion.
💡ENABLE will support this transition by advancing bankable projects, encouraging private investment, and providing a scalable model for integrating BESS into national power systems.
Japan
Peak Energy has acquired 11 MW of ready-to-build solar projects spread across Chubu, Chugoku, Hokkaido, and Kansai in Japan, with completion targeted for 2027. Once operational, the projects are expected to produce over 13 GWh of electricity annually, cutting around 6,000 tonnes of CO₂ emissions each year.
💡The clean energy will be sold to corporate buyers through long-term fixed-rate power purchase agreements, helping shield customers from energy price fluctuations. The deal marks continued growth for Peak Energy in Japan, adding to its existing 28 MW plant in Kyushu and expanding its regional portfolio to over 200 MW of solar and nearly 300 MWh of battery storage under operation or development.
New Zealand
Irish firm Turmec and Australia’s Environmental Group Ltd. have secured a NZ$7.1 million contract to supply cutting-edge sorting equipment for a new material recovery facility (MRF) in Dunedin, a city on the east coast of New Zealand’s South Island. The facility will process up to 8,000 tonnes annually of mixed curbside recycling using advanced optical sorting to recover paper, metals, and key plastics.
💡The system is central to Dunedin City Council’s broader NZ$78 million Green Island Resource Recovery Park redevelopment, aimed at reducing landfill use and building a regional circular economy.
Singapore
Singapore’s Accounting and Corporate Regulatory Authority (ACRA) has introduced the Sustainability Reporting Body of Knowledge (SR BOK), a standardized framework to enhance workforce skills in sustainability reporting and support the country’s ESG and carbon neutrality goals under the Green Plan 2030.
Aligned with International Sustainability Standards Board (ISSB) requirements, SR BOK covers key competencies such as greenhouse gas accounting and climate-related disclosures.
💡Supported by over 50 stakeholders including ISSB, ISCA, NTU, and Temasek Polytechnic, the initiative aims to boost reporting quality and talent development. Partnering with SkillsFuture Singapore, ACRA will provide funding to expand training accessibility, positioning Singapore as a regional leader in sustainability education and ESG governance.
Singapore-Japan
Saft, a TotalEnergies subsidiary, will supply over 1 GWh of lithium-ion battery storage for Gurīn Energy’s upcoming project in Soma City, Fukushima. The system will deliver 240 MW of power for four hours and include AI-driven monitoring and full installation by Saft, with construction starting in 2026.
💡The project supports Japan’s clean energy goals by enhancing grid stability and reducing renewable energy curtailment, aiding the country’s target of 40–50% renewables by 2040 and carbon neutrality by 2050.
Vietnam
Vietnam has launched the pilot phase of its emissions trading scheme (ETS), targeting the steel, cement, and thermal power sectors, which together account for about half of the country’s CO₂ emissions through 2029.
💡Under the scheme, companies must buy emissions allowances based on their carbon intensity, with the first permits for 2025–2026 to be issued by year-end. Firms exceeding their allocations will need to purchase additional credits, while up to 30% of emissions can be offset through approved low-carbon projects.
Aviation
Australia
McDermott Aviation plans to introduce three Transall C-160 fixed-wing aircraft into its firefighting operations, pending approval from Australia’s Civil Aviation Safety Authority (CASA). The move aims to enhance aerial firefighting in remote and rugged areas.
💡The aircraft are fitted with a new 14,000-litre tank system developed with Helitak Firefighting Equipment, designed for rapid refill and deployment. The system allows the aircraft to operate from regional airstrips and return to fire zones within minutes. The company aims to have the aircraft operational by the 2025/26 fire season.
Australia-Singapore
Qantas Group will close its Singapore-based low-cost carrier Jetstar Asia by 31 July 2025, as part of a strategic restructure aimed at supporting its fleet renewal program and reinforcing operations in Australia and New Zealand. The decision, made in partnership with majority shareholder Westbrook Investments, allows Qantas to reallocate up to A$500 million in capital. Thirteen Jetstar Asia Airbus A320s will be progressively redeployed to domestic and trans-Tasman services.
💡Rising supplier costs, airport fees, and regional competition have weighed on Jetstar Asia’s performance, with the airline expected to post a A$35 million underlying EBIT loss this financial year. Sixteen intra-Asia routes will be discontinued, though services by Jetstar Airways and Jetstar Japan remain unaffected.
Malaysia
Aerospace Propeller Systems (APS) has received certification from the Civil Aviation Authority of Malaysia (CAAM) for its new facility in Shah Alam, Selangor, positioning it as the company's regional centre of excellence for propeller maintenance, repair, and overhaul (MRO) services.
💡The CAAM approval confirms APS meets Malaysia’s regulatory standards, following earlier certification by the US Federal Aviation Administration (FAA). The Shah Alam facility is set to open later this month and will support turboprop operators across Asia Pacific.
New Zealand
Air New Zealand has begun trialling high-speed, low-latency Wi-Fi on its domestic fleet using Starlink, giving passengers free internet access on selected flights. The trial, starting with an Airbus A320 and later expanding to an ATR turboprop, is aimed at testing connectivity performance and gathering customer feedback to inform future rollout plans.
💡Meanwhile, the airline has also become the first trans-Tasman carrier to sign an agreement with Western Sydney International Airport (WSI), committing to launch Auckland-WSI services by mid-2027. The new route will complement existing flights into Sydney Kingsford Smith and is part of Air New Zealand’s broader strategy to expand network options and improve connectivity across the region.
Singapore
Changi Airport Group (CAG) has awarded a S$999 million contract to a joint venture between Penta-Ocean Construction and Koh Brothers for the construction of intra-terminal tunnels at Terminal 5 (T5). The project, expected to take over four years, follows last month’s T5 groundbreaking.
💡The tunnels will connect T5’s concourses and support key systems including an Automated People Mover, Baggage Handling System, and a Common Services Tunnel for utilities. The works also include a ventilation building and provisions for future infrastructure. T5 is slated for completion in the mid-2030s.
Advanced Air Mobility
Australia
The Civil Aviation Safety Authority (CASA) has opened a consultation on draft guidelines for integrating vertical flight facilities at airports primarily designed for fixed-wing aircraft. Originally focused on eVTOL operations, the guidelines now also cover helicopters, addressing shared risks such as downwash, outwash, and operational procedures.
💡The draft Advisory Circular (AC 139.10) offers recommendations on facility design, arrival and departure protocols, physical characteristics, and visual aids to support safe vertical takeoff and landing operations alongside fixed-wing traffic.
Australia
Australian vertiport developer Skyportz has introduced an updated version of its patented modular vertipad, designed specifically to address key challenges in Advanced Air Mobility (AAM) at airports. The new design, filed internationally in June 2025, focuses on mitigating downwash and outwash effects from eVTOL aircraft and enhancing fire suppression capabilities. Adjustable height settings for the Final Approach and Takeoff (FATO) surface and an adaptable blast screen enable airports to tailor vertipads to different aircraft, reduce wind speeds, and support multiple pads operating side-by-side.
💡The vertipad also features a mechanism to lower aircraft to ground level after landing, facilitating movement to charging stations and improving operational efficiency. For fire safety, the landing surface can be flooded to fully immerse and extinguish battery fires quickly, minimizing airport downtime.
Hong Kong
GAC’s Govy brand unveiled the AirCab, its new flying car, at the 2025 Hong Kong International Automotive & Supply Chain Expo. Priced at up to RMB 1.68 million (about $234,000), the two-seat electric vertical takeoff and landing (eVTOL) vehicle features a fuselage made of over 90% carbon fiber composite and supports Level 4 autonomous driving.
Equipped with high-density cylindrical batteries that charge in 25 minutes, the AirCab’s range per charge has not been disclosed. It is intended for low-altitude tourism and will begin demonstration flights in the Guangdong-Hong Kong-Macao Greater Bay Area this year.
💡The AirCab is currently undergoing airworthiness certification, with deliveries planned for late 2026. The launch follows the December 2024 introduction of the Govy brand and its first eVTOL model, the Airjet, also displayed at the expo.
United Arab Emirates-China
Abu Dhabi has completed its first public test flight of a fully autonomous passenger eVTOL aircraft, showcasing its push into urban air mobility. Led by ADIO in partnership with EHang and MLG, and backed by the Smart and Autonomous Systems Council, the EH216-S trial validated hot-weather performance, routing, and vertiport operations under UAE aviation oversight.
💡The flight marks progress toward commercial air taxi services and highlights Abu Dhabi’s ambition to lead in smart, zero-emission transport.
Marine
Australia
Australian company NH3 Clean Energy has signed a joint development agreement (JDA) with Oceania Marine Energy and Pilbara Ports Authority to develop low-emissions ammonia bunkering at the Port of Dampier. The non-binding JDA aims to establish bunkering operations by 2030 to service iron ore carriers and support decarbonization along the Pilbara-Asia maritime corridor.
Under the agreement, Pilbara Ports will manage the port and issue bunkering licenses, NH3 Clean Energy will supply low-emission ammonia from its WAH2 project, and Oceania will handle ship-to-ship ammonia transfers.
💡The parties plan to complete technical feasibility studies, regulatory approvals, and finalize agreements by the end of 2026 to support final investment decisions for the WAH2 project and related infrastructure. Production is expected to start in the second half of 2029.
Philippines
The Philippines’ Department of Energy has launched its Fifth Green Energy Auction, aiming to secure 3.3 GW of fixed-bottom offshore wind capacity for delivery between 2028 and 2030. This marks the country’s first auction dedicated solely to fixed-bottom technology, selected for its proven performance, lower costs, and scalability.
💡While the focus is currently on fixed-bottom projects, the DOE has not ruled out floating wind in future rounds. Stakeholders have been invited to review the auction terms and submit feedback by June 18. Offshore wind is expected to contribute up to 6 GW toward the Philippines’ 15.3 GW clean energy target by 2030.
Singapore
Singapore-based offshore services provider Kim Heng has signed a non-binding MOU with Singapore Energy Interconnections (SGEI), a newly established, government-backed firm tasked with developing cross-border power links to enable electricity imports. The partnership will focus on operating, maintaining, and repairing submarine power cable systems across the ASEAN region. The MOU is valid until June 1, 2028, or until formal agreements are signed.
💡SGEI, set up in April 2025, recently partnered with Singa Renewables to develop a sub-sea interconnector for importing low-carbon electricity from Indonesia to Singapore.
Taiwan
Lightsource bp has secured TWD 6 billion (about USD 185 million) to fund its first fishery solar project globally, located in Taiwan. The 115MWp Project Budai, situated in Chiayi County, combines solar energy with aquaculture, a dual-use approach known as aquavoltaics.
Scheduled to start construction in June 2025 and complete in 2026, the project is expected to generate 180,000 MWh annually—enough to power around 41,000 homes—and reduce carbon emissions by 115,000 tonnes per year.
💡The financing consortium features major banks such as Bank SinoPac, Crédit Agricole CIB, and DBS Bank Taiwan.
Vietnam
The Ministry of Construction has approved a development plan to expand Hai Phong port’s capacity by 2030, allocating over VND66 trillion ($2.6 billion) for infrastructure upgrades. The plan includes building 61 to 73 terminals across key zones such as Lach Huyen, Dinh Vu, and Cam River-Pha Rung, along with anchorages and storm shelters.
💡Hai Phong port is projected to handle 175-215 million tons of cargo annually and 22,800 passenger visits by 2030, supported by a total investment of around VND78 trillion ($3 billion). Lach Huyen terminal alone will feature 18 berths capable of servicing vessels up to 18,000 TEUs.
Space
China
The 3rd Meishan Satellite Application Industry Development Conference opened on June 9 in Meishan City, Sichuan, signaling China's growing ambitions in commercial satellite technology. The event featured the release of the 2025 Blue Book on China's Remote Sensing Application Sector and keynote speeches from leading scientists, reinforcing Meishan’s rising role in China's satellite ecosystem.
💡Huantian Wisdom Technology, Meishan's flagship satellite firm, launched its "StarView Horizon" platform and signed partnership deals with Kazakhstan's Temir Zholy and Kazaerospace, as well as Malaysia’s Karuna Group. Meishan, now home to the largest cluster of commercial remote sensing satellites in Southwest China, aims to build a globally competitive satellite industry cluster by 2030.
Indonesia-France
Indonesia and France have strengthened their digital cooperation, focusing on cybersecurity, innovation, and expanding digital infrastructure. Led by Indonesia’s Ministry of Communication and Digital Affairs, the partnership targets key areas such as start-up development, AI regulation, and child online protection.
💡Key joint projects include building a national data center and deploying the SATRIA-1 satellite to enhance connectivity in remote regions. The cooperation also prioritizes nurturing Indonesia’s digital economy by supporting local game developers and improving digital literacy, especially in underserved areas.
Japan-Malaysia
Japan and Malaysia are expanding their space partnership under a 2023 agreement between the Japan Aerospace Exploration Agency (JAXA) and the Malaysian Space Agency (MYSA).
💡Anchored in Malaysia’s Space Exploration 2030 (MSE2030) strategy, the collaboration targets practical use of space technologies in sectors like agriculture and mining, while advancing satellite development, Earth observation, launch systems, and lunar exploration.
Singapore
SITA has launched Managed Satellites, a new satellite-based connectivity service designed to keep airports and airlines connected during outages, emergencies, or in remote areas. Now available in over 130 countries, the service uses low earth orbit (LEO) satellites to deliver secure, low-latency, high-bandwidth communications tailored to the air transport industry.
💡With primary, backup, and emergency options, SITA Managed Satellites ensures uninterrupted operations—even during blackouts, disasters, or network congestion. It supports connectivity across diverse airport environments, from cargo hubs to maintenance hangars, and enables rapid deployment for new routes, seasonal activity, or crisis response.
Singapore-Pakistan
Kacific Broadband Satellites Group has partnered with Supernet Limited to expand satellite broadband access across underserved rural areas in Pakistan. Supernet will act as an authorized reseller, promoting and supporting Kacific’s high-speed connectivity solutions for remote communities, businesses, and government agencies.
💡The move builds on Kacific’s recent entry into the Pakistani market through its collaboration with Paksat International and SUPARCO, using 11 Ka-band spot beams on the Paksat-MM1 satellite to reach over 20,000 remote sites. The new partnership will also focus on sharing expertise and co-developing strategies tailored to priority sectors.
💡Using its proprietary low-orbit satellite constellation, Tomorrow.io provides precise, real-time agronomy advice to help farmers manage irrigation and pesticide use amid increasingly unpredictable weather, enhancing climate resilience across the archipelago’s diverse and remote regions.
Vietnam
Vietnam’s Ministry of Science and Technology has announced 21 grand challenges to boost innovation, digital transformation, and advanced technology development nationwide.
💡These priorities include AI-integrated biological data platforms, smart aquaculture sensors, 5G and 6G equipment R&D, low-Earth orbit satellites, semiconductor chip manufacturing, and a national blockchain service network.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**