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: WeMoney Secures A$12M in Series A Funding to Expand Financial Wellness Platform; Venturebeam Facilitates $7.3M Funding Round for AI Company viAct; World Bank Unveils Rebranded Business Ranking Amid Criticism; Juspay Expands to Singapore to Strengthen APAC Presence; Surfin Meta Raises US$14 Million to Expand Digital Financial Services in Emerging Markets; and Google Secures Offshore Wind Power Deal in Taiwan
Environmental Sustainability: Asia’s Climate Crisis Deepens: WMO Report; Study Reconstructs 30-Million-Year History of East Asian Summer Monsoon Precipitation; APAC Commit to Sustainable Urban Development and Address Water Challenges; ICAO Urges Opposition to New Aviation Emission Taxes; and Hyundai Delivers Electric Buses to Yakushima for Zero-Emission Transport Push
Aviation: Phenix Jet Completes First Temporary Aircraft Registration in Asia-Pacific; Chengdu Airlines' C909 Aircraft Begin Commercial Operations in Vietnam; BOC Aviation Seizes Opportunity as China Refuses Boeing Deliveries; Hong Kong Secures 12 Investment Deals with Ningbo Firms Amid Mainland Push; CPaT Expands in Asia with New Contracts in the Philippines and Sri Lanka; SIA Partners with OpenAI to Boost Customer Service and Operations; and Vietnam Airlines Secures Funding for 50 Narrow-Body Aircraft Acquisition
Advanced Air Mobility: Ascendance Expands Partnership with PhilJets for Hybrid-Electric VTOL Aircraft
Marine: Policy Roadmap to Combat IUU Fishing in Southeast Asia; UNCTAD Launches First-Ever Country-Level Seaborne Trade Data; IMO Begins Rollout of Alternative Fuels Training Program; Indonesia Launches Green Hydrogen Study to Decarbonize Maritime Sector; Indonesia and Denmark Discuss Satellite Maritime Surveillance Cooperation; and Vale and Petrobras Test Biofuel Blend for Bulk Carrier Decarbonization
Space: China and Malaysia Strengthen Space Cooperation During Xi Jinping's Visit; Japan Plans to Beam Solar Power from Space to Earth; Sarawak Launches Aerospace Roadmap to Drive Economic Growth Under PCDS 2030; Qosmosys Opens R&D Center in Saudi Arabia, Eyes Riyadh as Global Headquarters; and Thailand Joins China’s Chang’e-8 Lunar Mission
Financing & Investments
Australia
Australian fintech startup WeMoney has raised A$12 million in a Series A funding round led by Lance East Office and joined by Mastercard, BetterLabs, Dorado Capital, and Eastcourt Capital.
Launched in 2020, WeMoney provides a financial wellness app that uses open banking and AI to help users manage their finances, particularly during times of inflation and high interest rates.
💡With over one million downloads, the company plans to use the new funds to enhance its AI features, develop its “BrightMatch” platform for easier financial provider switching, and expand its engineering team.
Asia
Venturebeam has successfully facilitated a $7.3 million funding round for viAct, a Hong Kong-based sustainability-focused AI startup. The round exceeded viAct's initial target, led by VentureWave Capital and supported by Singtel Innov8, Korea Investment Partners, and PolyU Entrepreneurship Investment Fund.
Founded in 2016, viAct specializes in AI-powered solutions for enhancing workplace safety and productivity across heavy industries. This funding will support its expansion into MENA and Europe.
💡The deal marks Venturebeam’s first investment in Asia.
Global
The World Bank has launched a new report, Business Ready (B-READY), to replace its controversial Doing Business index, which was scrapped in 2021 over data manipulation concerns. B-READY aims to evaluate business environments with more transparency, incorporating social inclusion, environmental sustainability, and public service delivery.
However, critics argue that B-READY still reflects many of the same flaws, emphasizing investor perspectives over broader societal impact. Labor protections are assessed mainly from employers’ views, potentially downplaying workers' rights, while legal assessments focus on commercial court efficiency, ignoring judicial independence.
💡While B-READY offers more transparency, its focus on business efficiency raises questions about whether it will drive meaningful reform or continue deregulation trends.
Singapore
Juspay, an India-based payments technology firm, has opened a new office in Singapore to expand its presence in the Asia Pacific region. The company, which processes over 200 million transactions daily, provides payment solutions such as orchestration, authentication, tokenisation, and fraud prevention.
💡The Singapore hub will support growing demand from regional enterprise clients and deepen its market footprint. Juspay has also partnered with Agoda, integrating its orchestration and reconciliation services to enhance the travel platform's payment system.
Singapore
Singapore-based fintech firm Surfin Meta Digital Technologies has raised US$14 million in its latest funding round, bringing its total funding to US$26.5 million.
💡The round was supported by investors including Woori Venture Partners, Washington University in St. Louis, and Phillip Private Equity. This follows a previous US$12.5 million raise in October 2024, led by Insignia Ventures Partners. The new funds will enable Surfin Meta to expand into additional markets and boost its research and development efforts.
Taiwan
Google has signed its first offshore wind power purchase agreement in Asia, agreeing to buy renewable energy from Copenhagen Infrastructure Partners' (CIP) 495 MW Fengmiao I offshore wind project in Taiwan.
💡The project, set to begin operation in 2027, will support Google’s data centers and offices in the region.
Environmental Sustainability
Asia
Asia is warming nearly twice as fast as the global average, according to the WMO’s State of the Climate in Asia 2023 report. Many countries saw record-high temperatures last year, along with intensified floods, storms, and droughts that killed over 2,000 people and directly impacted nine million.
Sea levels across Asia are rising faster than the global average, while glaciers in the High-Mountain Asia region are retreating at unprecedented rates.
💡WMO and UN partners call for stronger early warning systems as the region faces mounting climate and economic risks.
Asia
A research team led by Prof. Wan Shiming from the Chinese Academy of Sciences has successfully reconstructed the history of East Asian Summer Monsoon (EASM) precipitation over the last 30 million years.
Using sediment samples from the northern South China Sea, the team developed a model that correlates weathering processes with monsoon strength, revealing how global temperature fluctuations and the uplift of the Qinghai-Tibet Plateau have influenced monsoon patterns.
💡The study indicates that EASM precipitation has been shaped by both global temperature changes and atmospheric CO2 levels, suggesting that ongoing global warming could significantly impact future monsoon patterns. The findings are published in The Innovation Geoscience.
Asia-Pacific
Countries across the Asia-Pacific region have committed to boosting cooperation for sustainable urban development at the 81st session of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
The newly adopted resolution emphasizes addressing climate risks, infrastructure gaps, overcrowding, and social inequalities amid rapid urbanization. It highlights the need for investments in digital innovation, low-carbon transport, nature-based solutions, and climate-resilient infrastructure.
💡A second resolution tackles rising water-related challenges, urging integrated water management and resilient infrastructure. The session also emphasized support for middle-income countries and digital inclusion, with nearly 1,000 delegates from 43 countries attending in Bangkok.
Global
The International Civil Aviation Organization (ICAO) has urged its 193 member states to oppose new proposals to impose taxes or levies on international aviation to fund global climate efforts.
ICAO Secretary General Juan Carlos Salazar emphasized that such measures risk undermining CORSIA, the UN-agreed global carbon offsetting scheme for aviation, and could disrupt international efforts toward net-zero emissions by 2050.
💡Proposals from bodies like the IMF and COP29’s Global Solidarity Levies Task Force have suggested new levies on aviation fuel, ticket prices, and frequent flyers to raise climate finance. ICAO argues these could increase operational costs, create legal conflicts, and hinder aviation’s sustainable development.
Japan
Hyundai Motor Company handed over its ELEC CITY TOWN electric buses to Tanegashima Yakushima Kotsu, supporting Yakushima Island’s goal of achieving carbon neutrality by 2050. Starting June 2025, five medium-sized, low-floor buses — equipped with 145 kWh batteries and Vehicle Dynamics Control for the island’s steep, winding roads — will enter service.
💡Hyundai also signed an agreement to deploy Vehicle-to-Home technology, allowing buses to supply power to evacuation shelters during natural disasters. The move aligns with Yakushima’s designation as a priority eco-tourism and zero-emission zone in Japan’s national sustainability plans.
Aviation
Asia-Pacific
The Bombardier Challenger was registered while parked at Singapore’s Seletar Airport, with the process completed in five business days. The transition registration enables global operations during aircraft transactions, reducing deal delays and easing regulatory approvals.
💡Phenix Jet, which has operations across Japan, Guam, Hong Kong, Singapore, and the Cayman Islands, said more transition registrations are planned.
China-Vietnam
Two COMAC C909 aircraft wet-leased by Chengdu Airlines to Vietjet Air officially launched the "Hanoi – Con Dao – Ho Chi Minh City" route, marking the first commercial operation of China's C909 aircraft in Vietnam.
💡With this milestone, three overseas carriers—Indonesia’s TransNusa, Lao Airlines, and Vietjet Air—have collectively opened 15 routes across Southeast Asia, expanding the aircraft's international footprint.
Global
An article in Fortune reports that BOC Aviation sees strong demand for Boeing jets amid concerns that China will continue to refuse deliveries due to U.S.-China trade tensions.
💡BOC Aviation CEO Steven Townend said it is “relatively easy” for Boeing to find new buyers, with airlines in Malaysia and India reportedly showing interest. Amid a global aircraft shortage, BOC Aviation recently ordered 50 Boeing 737-8 jets, strengthening its already large order book.
Philippines and Sri Lanka
CPaT Global has secured new contracts with Aviation Partnership Philippines Corporation (Aplus) and Sri Lanka’s FitsAir.
For Aplus, CPaT will provide fleet training across multiple aircraft types, including Airbus, Boeing, ATR, and Embraer models, along with its full library of Aviation Specialty Courses and the CPaT Invent content management tool.
💡Separately, FitsAir will use CPaT’s A320 Basic Aircraft Systems course and General Subjects library to enhance its pilot training programs. Both partnerships strengthen CPaT’s footprint in the Asia-Pacific region.
Singapore
Singapore Airlines (SIA) has partnered with OpenAI to develop advanced Generative AI (GenAI) tools aimed at enhancing customer service and streamlining operations.
The collaboration will first focus on upgrading SIA’s AI-powered virtual assistant; staff will also benefit from improved AI tools that automate routine tasks and assist with decision-making.
💡In addition, SIA plans to integrate OpenAI’s AI models into operational systems to optimize complex processes such as flight crew scheduling.
Vietnam
Vietnam Airlines has signed a memorandum of understanding (MoU) with Vietcombank to secure funding for the acquisition of 50 narrow-body aircraft. The deal includes prepayments and long-term loans from 2026 to 2032.
This follows the airline's commitment to purchase 50 Boeing 737 MAX jets in September 2023, a move aimed at expanding its short and medium-haul network across Southeast Asia, Northeast Asia, and domestic markets.
💡The deal, part of the airline’s broader fleet expansion, was part of a strategic effort to strengthen bilateral ties between the U.S. and Vietnam. The airline has not yet specified which manufacturer will supply the aircraft.
Advanced Air Mobility
Philippines-France
French aerospace startup Ascendance signed a letter of intent (LOI) with PhilJets to purchase five additional Atea hybrid-electric VTOL aircraft, bringing PhilJets’ total pre-orders to 15.
💡The agreement, signed during a French government trade mission in Manila, also launches a strategic partnership to explore regional air mobility solutions across the Philippine archipelago.
Marine
Asia
A policy roadmap aimed at addressing illegal, unregulated, and unreported (IUU) fishing in the South China Sea and Sulu-Sulawesi Seascape has been developed following an interactive dialogue at the South China Sea Regional Exchange in Manila, Philippines, in January 2024.
The roadmap includes key recommendations across four thematic areas: Marine Ecosystem Protection and Conservation, Fisheries Governance, Regional Cooperation, and Capacity Building.
The report highlights the need for co-managed marine protected areas, enhanced collaboration among national and regional actors, and technological improvements such as vessel monitoring systems to improve enforcement.
💡The policy recommendations aim to support national governments, regional organizations, and civil society efforts to combat IUU fishing and its associated challenges.
Global
The UN Conference on Trade and Development (UNCTAD) released new seaborne trade data on April 15, offering, for the first time, country-level statistics. Built from official government-reported data, the dataset provides a clearer view of global maritime cargo movements and aims to support better transport and trade policies.
Maritime transport carries over 80% of goods traded globally, and the new data highlights the growing role of developing economies, whose share of maritime freight rose from 38% in 2000 to 54% in 2023, with Asia—particularly China—driving much of the increase. However, least developed countries and small island developing states remain marginal players, reflecting challenges such as limited infrastructure and weaker integration into global value chains.
The data also shows a shift in maritime trade from liquid to dry cargo, with dry bulk commodities like coal, iron ore, and manufactured goods now surpassing oil and gas. Crude oil’s share fell from 29% in 2000 to 18% in 2023.
💡Meanwhile, global shipping has faced major disruptions over the past two decades, including the 2008–2009 financial crisis, the COVID-19 pandemic, the war in Ukraine, and supply chain challenges in the Red Sea and Panama Canal.
Global
The International Maritime Organization (IMO) has launched the full rollout of its Train-the-Trainer Programme on Alternative Fuels for Sustainable Shipping. The first session, held 14–18 April at MTCC-Asia in Shanghai, trained 35 participants to educate others on using ammonia, methanol, and hydrogen for ship decarbonization.
💡Developed by the World Maritime University, the program features real-world scenario training and safety demonstrations. Participants came from across Asia, along with NGO and industry representatives. The initiative follows a pilot course held in late 2024. Draft interim guidelines for training seafarers on alternative fuels are expected to be approved by the IMO’s Maritime Safety Committee in June 2025.
Indonesia
PT HDF Energy Indonesia has signed an MoU with Indonesia’s Ministry of Transportation, PT PLN, and ferry operator PT ASDP to jointly study the use of locally produced green hydrogen to decarbonize the maritime sector. The study, co-funded by the IMO, will focus on Eastern Indonesia, where HDF Energy is developing 23 Renewstable® hydrogen power plants combining solar energy and hydrogen storage.
💡The green hydrogen produced will power high-capacity fuel cells for maritime fleets, offering a zero-emission alternative to diesel engines. ASDP will help identify opportunities to convert its fleet and port infrastructure, while PLN continues expanding hydrogen projects nationwide. HDF also signed an MoU with shipping company PT BAg to explore hydrogen use for vessel auxiliary systems.
Indonesia-Denmark
💡During talks between Indonesia’s Maritime Affairs Minister Sakti Wahyu Trenggono and Danish Foreign Minister Lars Løkke Rasmussen in Jakarta, the focus was on deploying satellite constellations and marine drones.
Singapore
Vale and Petrobras, through Petrobras Singapore, have partnered to test a marine fuel with 24% second-generation biodiesel (VLS B24) on the bulk carrier Luise Oldendorff in Singapore. The biofuel, produced by blending fossil fuel with UCOME derived from used cooking oil, was formulated locally by Petrobras Singapore, which holds ISCC EU sustainability certification.
💡The trial continues the companies' collaboration on decarbonization initiatives, supporting Vale’s goal of cutting its scope 1 and 2 emissions by 33% by 2030 and scope 3 emissions by 15% by 2035. Petrobras’ 2025–2029 Business Plan earmarks $16.3 billion for energy transition projects, reinforcing its push toward a low-carbon market.
Space
China-Malaysia
During Chinese President Xi Jinping's state visit to Malaysia, both countries committed to expanding their collaboration in science, technology, and space exploration. Under the China-Malaysia Agreement on Space Cooperation, they will accelerate joint research, enhance science park collaborations, and foster the new space economy. The focus is on advancing space capabilities, particularly for national security and economic growth, through shared innovation and technology transfer.
The visit also saw Malaysia and China signed a Memorandum of Understanding (MoU) to deepen cooperation on China’s BeiDou Global Navigation Satellite System, a key step in strengthening regional navigation capabilities.
💡The partnership also includes the establishment of joint laboratories focused on emerging technologies like AI and digital infrastructure, further aligning with Malaysia's ambitions to enhance its scientific and space ecosystems under the Belt and Road Initiative.
Japan
Japan is preparing to launch a groundbreaking project, OHISAMA, aiming to transmit solar power wirelessly from space to Earth. In 2025, a 400-pound satellite will be sent into low Earth orbit to collect solar energy using photovoltaic panels. The energy will be converted into microwaves and beamed back to Earth to a specially designed receiving antenna, providing up to 1 kilowatt of power—enough to power a dishwasher for one hour.
This initiative, part of Japan’s efforts to reduce dependence on fossil fuels and combat climate change, marks a major step toward space-based solar power. The project draws on advances in robotics, wireless transmission, and the potential of SpaceX’s Starship. If successful, it will pave the way for larger satellites capable of transmitting significantly more power.
💡For now, the project will serve as a proof of concept, with the possibility of larger satellites in the future.
Malaysia
Sarawak, Malaysia, has unveiled a comprehensive aerospace roadmap under its Post COVID-19 Development Strategy (PCDS) 2030, aiming to become a regional leader in the aerospace industry. The plan includes the creation of the CENTEXS Aerospace Academy in Lundu to train a skilled workforce and support sector growth.
Sarawak also envisions developing its own satellite constellation and integrating space technology into key sectors like resource management and infrastructure planning.
💡The state is seeking strategic international partnerships to enhance its capabilities and global competitiveness in aerospace.
Singapore
Singapore-based Qosmosys has opened a new office in Riyadh, with plans to establish the Saudi capital as its global headquarters within two years. The Riyadh office will oversee key projects, including the TRIOPS lunar navigation system, and serve as the center for global coordination.
💡Qosmosys aims to leverage Saudi Arabia’s economic vision and the emerging “Moon economy” to attract international partnerships and funding.
Thailand-China
Thailand will participate in China’s Chang’e-8 lunar mission, contributing to advanced lunar robotics and rovers as part of a global collaboration.
💡Selected among 15 international projects for payload cooperation, the milestone reflects Thailand’s expanding role in space research and technology.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**