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.**
Summary
Financing & Investments: Grab Acquires Stake in Cambodian Delivery App Nham24; China's Central Bank to Strengthen Monetary Policy and Support Key Sectors; Alibaba Sells Stake in Sun Art Retail for $1.7 Billion; China Expands Consumption Subsidies to Boost Electronics Sales; Aye Finance Raises INR 110 Cr Debt as It Eyes IPO; Mizuho Securities Launches Japan's First Tokenized Infrastructure Fund with Blue Sky Solar; Samsung to Increase Stake in Rainbow Robotics to 35%; and Vietnam Introduces Support for Semiconductor and AI R&D Projects
Environmental Sustainability: China Unveils Guidelines to Accelerate Low-Carbon Hydrogen Use in Key Industries; Sekisui Chemical to Boost Perovskite Solar Cell Production with ¥90 Billion Investment; Japan Unveils GX 2040 Vision to Drive Carbon-Neutral Industrial Growth; UVCell Solar and Iozela Data Center to Develop Sustainable Data Center in Malaysia; Vietnam Airlines Adopts Sustainable Aviation Fuel for Europe Flights; and Vietnam Unveils Master Plan for Sustainable Coastal Development
Aviation: China Tightens Aviation Safety Measures After Global Incidents; China’s C919 Jet Launches Regular Flights to Hong Kong, Eyes Southeast Asia by 2026; Mumbai High Court Orders Probe into Air India Pilot's Safety Complaint; Sarawak Premier Delays MASwings Acquisition to Q1 2025 Amid Valuation Disputes; SIA Ranks Third for On-Time Performance in Asia-Pacific for 2024; and Vietnam Airlines Adopts SAF on Europe Routes, Aiming for 70% by 2050
Advanced Air Mobility: China Certifies World's First Commercial Electric Aircraft under Part 23 normal category; and China Unveils First Distributed Electric-Driven Flying Car
Artificial Intelligence: China Launches AI Standardization Committee to Drive Industry Growth; Singapore Firmus Technologies Wins Asia Pacific Data Centre Award; Korea Develops AI Module to Enhance Metal 3D Printing on Legacy Equipment; LG Launches 2025 Gram Laptops with Advanced AI Features; Taiwan Approves Plan for New "Silicon Valley" in the South; and US Reportedly Set to Announce New AI Chip Restrictions on China
Marine: China Launches Advanced Offshore Wind Installation Vessel Tiejian Wind Power 2000; Adani Ports Orders Eight Tugs from Cochin Shipyard in $52M Deal; EPS Ventures and Nysnø Invest in Zinus for Maritime Growth; and Hanwha Completes $100M Acquisition of Philly Shipyard, Expands Global Presence
Space: China Releases First-Ever Manned Space Program Progress Report; and ISRO Achieves Major Milestone with Space Docking Experiment SpaDeX
Financing & Investments
Cambodia
Grab has acquired an equity stake in Nham24, a leading Cambodian food delivery and e-commerce platform. The deal, finalized on December 31, 2024, saw Grab purchase shares from the Smart Axiata Digital Innovation Fund (SADIF). Though financial details were not disclosed, the transaction is one of Cambodia's largest venture capital exits.
💡Founded in 2015, Nham24 offers services such as food delivery, ride-hailing, and quick-commerce. The acquisition will allow Grab to integrate Nham24’s offerings with its AI-driven technology, improving logistics and merchant services. Both platforms will continue to operate independently during the transition.
China
China's central bank will focus on implementing structural monetary policies to support the development of technology, green finance, and other key areas. This includes cutting the reserve requirement ratio and interest rates, enhancing financial support for enterprises, and guiding institutions to lower financing costs.
💡Efforts will also aim to stabilize the capital market and improve real estate finance. The goal is to meet growing consumption and financing needs while fostering the country’s economic transformation.
China
Alibaba has agreed to sell its entire stake in Sun Art Retail for HK$13.1 billion ($1.7 billion), marking the company's ongoing shift away from physical retail operations. The sale, to Chinese private-equity firm DCP Capital, is part of Alibaba's strategy to refocus on e-commerce and cloud computing.
💡This follows a similar divestment in December of its stake in Intime Retail. The company will face a loss of approximately 13 billion yuan from the sale.
China
China is broadening its consumption subsidies to include personal devices like smartphones, tablets, and smartwatches, aiming to stimulate domestic spending as external challenges rise. This nationwide trade-in program, supported by 300 billion yuan in special treasury bonds, will encourage consumers to upgrade electronics.
💡The government expects the initiative to boost smartphone sales, benefiting local brands such as Huawei and Xiaomi, while also supporting industry upgrades across various sectors like agriculture and business equipment.
India
Aye Finance, an IPO-bound lending tech startup, has raised INR 110 crore ($12.8 million) in debt from investors like Northern Arc and MAS Financial Services. This funding aims to expand its NBFC operations. The debt raise comes as Aye Finance prepares for a ₹1,450 crore IPO, which includes a mix of fresh equity and an offer-for-sale from existing shareholders.
💡The company recently reported strong financial growth, with a significant increase in both net profit and revenue for FY24.
Japan
Mizuho Securities has partnered with Blue Sky Solar for Japan's first tokenized infrastructure private placement fund. The security token offering (STO) will fund eight solar power facilities with a combined 9.5 MW capacity, enough to power 9,000 households.
💡The tokenization leverages Nomura-founded BOOSTRY's iBet for Fin platform and involves two entities: Blue Sky Asset Management, managing the LLC's solar assets, and a limited partnership for investment. Token transfers require issuer approval, ensuring control.
South Korea
Samsung Electronics will exercise a call option to increase its stake in Rainbow Robotics to 35%, having initially acquired a 14.7% stake in 2023 with an investment of KRW 86.8 billion. As part of this move, Rainbow Robotics will be incorporated as a subsidiary under Samsung’s consolidated financial statements. The collaboration aims to strengthen the development of advanced humanoid robots and accelerate automation in manufacturing and logistics, combining Samsung’s AI with Rainbow Robotics’ expertise in robotics.
💡Samsung will also form a synergy council with Rainbow Robotics and establish a Future Robotics Office to drive innovation in humanoid robots.
Vietnam
Vietnam's Government has enacted Decree 182, offering up to 50% support for semiconductor and AI R&D investments. Businesses with no tax debts and projects that contribute to innovation are eligible. The decree aims to boost high-tech industries, with a minimum investment of $117.78 million required for R&D centers.
💡The Investment Support Fund, managed by the Ministry of Planning and Investment, will provide financial aid for training, R&D, and infrastructure development.
Environmental Sustainability
China
The Chinese government has issued a plan to boost low-carbon hydrogen deployment in key industrial sectors, aiming to reduce costs and stimulate demand. The plan, released by the Ministry of Industry and Information Technology (MIIT) on December 31, focuses on achieving targets set in the national hydrogen industry development plan (2021-2035). It aims to reduce the high costs of renewable hydrogen production, which currently accounts for about 70% of production costs, by optimizing renewable power usage in hydrogen production
💡By 2027, the MIIT expects the steel, ammonia, methanol, and refining sectors to adopt large-scale low-carbon hydrogen use, while also encouraging hydrogen fuel cell electric vehicles (FCEVs) in transportation.
Japan
Sekisui Chemical, with backing from the Japanese government, is investing ¥90 billion to develop perovskite-based solar cells, aiming to generate 1 gigawatt of solar energy by 2030. The project will repurpose SHARP's Osaka factory, creating Sekisui Solar Film Co. Ltd. to lead production. The company plans to achieve a 100 MW capacity by 2027, initially targeting public infrastructure.
💡The government will cover 50% of the costs, supporting Japan's energy transition and reducing reliance on foreign energy sources.
Japan
Japan's Prime Minister Shigeru Ishiba has announced the "GX 2040 Vision," — a plan to achieve carbon neutrality while revitalizing the economy. The strategy incentivizes industries, such as semiconductor factories and data centers, to relocate near carbon-neutral energy hubs, offering benefits like reduced electricity costs and tax breaks.
💡Central to the plan is the restart of nuclear power plants and the expansion of renewable energy, ensuring a stable energy supply to meet AI-driven demand. By integrating decarbonization with industrial competitiveness, Japan aims to establish itself as a global leader in ESG-driven growth and secure long-term economic resilience.
Malaysia
US-based UVCell Solar and Southeast Asian developer Iozela Data Center have signed an agreement to create a data center complex and renewable energy hub in Penang, Malaysia. The facility will prioritize sustainability by integrating nature with technology and implementing ESG-compliant features like a green plantation farm and staff accommodations.
UVCell will also build a renewable energy hub in Pahang, comprising solar and biomass farms generating up to 500MW of power for the data center. The project aims to partner with top-tier vendors from Japan, China, the USA, and Singapore, and will employ local workers, focusing on training skilled professionals in Penang and Pahang.
💡Malaysia's data center sector is set to grow significantly, with the market expanding from 710MW in 2024 to 1.36GW by 2029, highlighted by key investments from Google and AWS.
Vietnam
Vietnam Airlines began using sustainable aviation fuel (SAF) on all Europe-bound flights starting January 1, 2025, with an initial 2% mix set to increase to 70% by 2050. This move supports Vietnam’s net-zero emissions goal by 2050 and enhances environmentally friendly travel.
💡The airline first used SAF in May 2024 and also employs fuel-efficient aircraft and optimized flight routes, cutting 70,000 tonnes of CO₂ in 2024.
Vietnam
Vietnam’s Ministry of Natural Resources and Environment has unveiled a Master Plan to transform coastal regions into economic and cultural hubs by 2050. The plan emphasizes sustainability, renewable energy, eco-tourism, and marine biotechnology while ensuring environmental preservation and cultural heritage. Key opportunities for businesses include renewable energy projects, tourism, marine biotechnology, and logistics infrastructure.
💡The plan supports Vietnam's aspiration of becoming a leading maritime nation, balancing economic growth with ecological responsibility.
Aviation
China
Following a rise in recent aviation fatalities, Chinese regulators are intensifying safety measures to address potential risks. The Civil Aviation Administration of China (CAAC) has alerted airlines to safety threats, adjusted flight routes, and mandated airports to review hazards like bird strikes and runway dangers.
💡The move follows international incidents, including a deadly runway overshoot by a Jeju Air jet and safety concerns near Russian airspace. Chinese carriers, including Air China and China Southern Airlines, are now avoiding high-risk regions.
Hong Kong
China's self-developed C919 narrow-body passenger jet began regular flights between Shanghai and Hong Kong on January 1, 2025, marking its first international route. Operated by China Eastern Airlines, the new service connects the two cities with daily round-trip flights under flight numbers MU721 and MU722.
💡Deputy general manager of COMAC's marketing center, revealed plans for European certification for the C919 in 2025, with aspirations to deploy the aircraft on commercial flights between China and Southeast Asia by 2026.
India
The Mumbai High Court has directed India’s aviation authority to investigate a pilot's claims about insufficient emergency oxygen supplies on five leased Air India Boeing 777-200LR aircraft operating long-haul US routes.
The pilot refused to fly a Bengaluru-San Francisco flight in January 2024, citing risks over mountainous regions where a descent to 10,000 feet might exceed the 12-minute oxygen supply. After completing the flight on an alternate route, the pilot was grounded and later terminated in May 2024.
💡The pilot escalated the issue, prompting a ₹1.1 million DGCA fine on Air India for regulatory violations. The High Court has ordered a detailed review of whether the aircraft can safely descend within the oxygen supply window, emphasizing passenger safety over challenging terrain.
Malaysia
Sarawak Premier Abang Johari announced a delay in finalizing the state's acquisition of MASwings from Malaysia Aviation Group (MAG), missing the original December 2024 deadline. The deal now hinges on a third-party valuation to reconcile differing asset valuations from the state and MAG.
The acquisition, aimed for completion by Q1 2025, is part of the Premier’s vision to establish a Sarawak-based airline. Initially considering Hornbill Skyways, the state shifted focus to MASwings, which currently operates AT72-500s and DHC-6-400s. Plans include adding jets to expand operations across Asia, potentially reaching destinations like Frankfurt.
💡Negotiations have been ongoing for 18 months with little progress beyond verbal commitments and postponed deadlines.
Singapore
Singapore Airlines (SIA) ranked as the third most punctual airline in the Asia-Pacific region in 2024, with an on-time performance score of 78.67%. This marked an improvement from 2023, when it was ranked seventh. Japanese carriers Japan Airlines (JAL) and All Nippon Airways (ANA) led the region.
SIA also recorded a low flight cancellation rate of 0.08%, far below the industry average of 1%. The airline emphasized its commitment to operational excellence and enhancing the travel experience for passengers.
💡Globally, Aeromexico, Saudia, and Delta Air Lines topped the rankings for on-time performance, with SIA not ranking in the global top 10. Additionally, King Khalid International Airport in Riyadh ranked as the most punctual airport globally.
Advanced Air Mobility
China
The CAAC has granted the world’s first type certification for an electric aircraft under Part 23 regulations to Liaoning General Aviation Academy (LGAA)’s RX4E. This four-seat, high-wing, fixed tricycle-gear aircraft, which first flew in October 2019, is now certified for commercial use.
With a cruising speed of 200 km/h and a range of 235 km, the RX4E is designed for short regional flights, particularly in areas with limited road infrastructure.
The RX4E, with a 13.5m wingspan, features a high-efficiency electric propulsion system, lightweight composite structure, and aerodynamic design. It builds upon LGAA’s previous electric aircraft models, including the RX1E, the world’s first certified electric light sport aircraft, and its modified floatplane version, the RX1E-S.
💡LGAA is also exploring a hydrogen-powered variant of the RX4E, currently in the demonstration phase.
China
Southeast University in Jiangsu Province has unveiled China's first distributed electric-driven flying car, the Kunpeng No.1. Designed as an integrated land-air vehicle, it features four coaxial rotors and can transition seamlessly between driving on the ground and flying in the air.
💡With a maximum takeoff weight of 500 kg, the flying car reaches speeds of 60 km/h and can fly for up to 20 minutes at 300 meters high.
Artificial Intelligence
China
China's Ministry of Industry and Information Technology has established a new technical committee focused on AI standardization. The committee will oversee the creation and revision of industry standards for AI sectors, marking a significant step in the country's AI development.
💡The initiative aligns with China's recent economic goals, aiming to foster a thriving AI ecosystem, which reached a scale of $80.5 billion in 2023, supported by nearly 4,500 enterprises.
Singapore
Firmus Technologies has won the Asia Pacific Data Centre Project of the Year award for its AI Factory, a facility praised for energy efficiency and advanced infrastructure. The AI Factory is part of efforts to convert ST Telemedia Global Data Centres into GPU-based AI computing platforms, aligned with Singapore’s AI innovation strategy. The project aims to provide local firms with cost-effective GPU resources, bolstering Singapore’s global AI position.
💡Firmus also made strides with its Sustainable Metal Cloud (SMC), setting industry benchmarks and contributing insights on AI energy challenges. The company continues to expand globally with a focus on sustainable AI technology.
South Korea
A research team from the Korea Institute of Industrial Technology has developed an AI-based add-on module for existing factory equipment. This technology enhances metal 3D printing by detecting and correcting defects in real-time. By using the module, factories can upgrade their production lines to smart factories without replacing old equipment.
💡The system autonomously adjusts process conditions, making it suitable for companies with limited advanced equipment or expertise.
South Korea
LG Electronics has unveiled its 2025 lineup of LG Gram laptops at CES 2025, featuring Intel’s next-gen Core Ultra Processors and Multi-AI functionality. The new models offer both on-device AI with Gram Chat for secure, fast data handling, and cloud-based AI through Gram Chat Cloud powered by GPT-4 Omni.
💡The laptops remain lightweight, with the 16-inch Gram Pro weighing just 1,199 grams.
Taiwan
Taiwan's Executive Yuan has approved the "Greater Southern New Silicon Valley Promotion Plan" to develop a semiconductor corridor in southern Taiwan. The plan focuses on AI, semiconductor, green energy, and digital transformation. It includes the creation of an AI-driven research environment, talent training, infrastructure improvements, and collaborations between public and private sectors.
💡The initiative aims to attract global companies and establish Taiwan as a leader in AI, semiconductor tech, and innovation.
USA-China
The Biden administration is reportedly set to implement new restrictions to limit China's access to advanced AI chips by closing regulatory loopholes. These rules will target third-party countries involved in chip transfers and aim to curb China’s AI progress.
💡Expected to be finalized before January 20, 2025, the changes will include new licensing systems and shipping controls to prevent circumvention.
Marine
China
China has unveiled the Tiejian Wind Power 2000, the nation’s most advanced fourth-generation self-elevating wind power installation vessel, delivered on December 28. Built by CIMC Raffles, the vessel will operate out of Tiejian in northern China, marking the largest single equipment investment in the industry’s history.
The 445-foot-long, 174-foot-wide vessel features over 5,000 square feet of deck space and a 2,000-ton full-slewing crane with a 540-foot reach, enabling the placement of next-generation wind turbines with capacities exceeding 20 MW. It is designed for challenging offshore environments, operating at depths over 260 feet.
💡Equipped with advanced dynamic positioning technology, three stern thrusters, and three side thrusters, the fully self-propelled vessel can achieve speeds up to 8 knots.
India
Adani Ports and Special Economic Zone Ltd. (APSEZ) has placed a $52 million order for eight 70-ton bollard pull harbor tugs at Cochin Shipyard. The tugs, slated for delivery between December 2026 and May 2028, will expand APSEZ's fleet to 152.
💡The order comes amid APSEZ's broader port investments, including a $1.2 billion project to fast-track the completion of Vizhinjam Port.
Singapore-Norway
Singapore’s Eastern Pacific Shipping Ventures (EPS Ventures) and Norwegian state-owned Nysnø Climate Investments have become shareholders in shore power solutions provider Zinus, investing NOK 50 million (approximately $4.5 million) through a private placement. The investment grants the two companies seats on Zinus’ Board of Directors, strengthening their strategic involvement.
💡Existing shareholders LOS Gruppen, Eviny Ventures, and DSD will maintain their full ownership stakes.
South Korea
Hanwha Systems and Hanwha Ocean have finalized their $100 million acquisition of Philly Shipyard, making it the Korean conglomerate’s first shipyard outside South Korea. Approved by the U.S. Committee on Foreign Investment in September, the deal concludes nearly 20 years of ownership by Norwegian group Aker ASA. The facility has been renamed Hanwha Philly Shipyard.
💡The shipyard, known for building Jones Act-compliant merchant ships, is currently constructing National Security Multi-Mission Vessels (NSMVs) for U.S. maritime academies and contributing to U.S. Navy hospital ship design studies. Hanwha plans to modernize operations, expand into naval vessel production, and boost local employment.
Space
China
The China Manned Space Agency (CMSA) has published its inaugural progress report, highlighting two years of advancements in the country's space station program. Key achievements include four manned flights, 15 long-term orbital stays by taikonauts, and a record-setting spacewalk. The report details groundbreaking research in space life sciences, microgravity physics, and space technology, with over 181 projects conducted, yielding 300 terabytes of scientific data and over 500 high-impact papers.
💡Among the highlights are the first space-grown rice germplasm, advancements in regenerative medicine, and the world's longest in-orbit space water ecosystem. Looking ahead, the space station aims to execute over 1,000 research projects, foster international collaboration, and drive scientific innovation during its 10-15 years of operation.
India
The Indian Space Research Organisation (ISRO) successfully launched its Space Docking Experiment (SpaDeX) on December 30, marking a critical step in India’s human spaceflight and lunar exploration ambitions. The mission, carried aboard a PSLV-CA rocket from the Satish Dhawan Space Center, deployed two satellites, SDX01 "Chaser" and SDX02 "Target," to a 470 km orbit.
The experiment will demonstrate orbital rendezvous, docking, and undocking—technologies essential for future missions like Gaganyaan, Chandrayaan-4, and India's planned space station, Bharatiya Antariksha Station (BAS). Once operational, SpaDeX will also test power-sharing and attitude control between docked satellites.
The launch included the POEM platform, hosting 24 experimental payloads, including India's first satellite AI lab by TakeMe2Space and PierSight's radar testing. These advancements solidify ISRO's growing role in global space exploration.
💡The success of SpaDeX sets the stage for India's human-rated HLVM3 rocket, with uncrewed Gaganyaan missions slated for 2025 and crewed flights by 2026-2027.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**