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.**
The Advanced Air Mobility Asia Symposium (AAM Asia)
The Advanced Air Mobility Asia Symposium (AAM Asia) will take place from September 16-18, 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.
MRO Asia-Pacific 2025
MRO Asia-Pacific 2025 will take place from September 16-18 at the Singapore Expo Convention and Exhibition Centre. The event brings together over 300 solution providers and more than 6,000 industry professionals from airlines, lessors, MROs, OEMs, and suppliers for networking, learning, and business growth opportunities.
Learn more about the event 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. 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.
IAC 2025 Sydney
The theme of IAC 2025 Sydney, “Sustainable Space: Resilient Earth,” highlights the vital link between space innovation and sustainability. Taking place from 29 September 29 to October 3, it focuses on space applications for Earth, sustainable space activities, and sustaining life beyond Earth. The event emphasizes responsible management of space resources, reducing environmental impacts, and fostering international cooperation to ensure space remains accessible and safe for future generations.
Learn more about the event here.
Thailand Space Expo 2025
Thailand Space Expo 2025 will be held from October 16 to 18 at ICONSIAM in Bangkok. Organized by the Geo-Informatics and Space Technology Development Agency (GISTDA), the event will showcase developments in space and geospatial technology. It will feature exhibitions, panel discussions, and opportunities for industry networking, drawing participants from government, academia, and the private sector. The expo aims to highlight current capabilities and foster collaboration in the regional space sector.
Learn more about the Expo here.
Super Terminal Expo (STE) 2025
Super Terminal Expo (STE) 2025 will take place at Hong Kong’s AsiaWorld-Expo from November 4-6, gathering over 4,000 global aviation and transport professionals. Supported by Hong Kong International Airport, the event focuses on innovative planning and development of intermodal transportation hubs, featuring 120+ exhibitors showcasing solutions for passenger and cargo operations, smart terminal automation, and rail integration.
Learn more about the event here.
Summary
Financing & Investments: MEXC Ventures Invests In Indonesian Crypto Exchange Triv; Maybank Partners With Microsoft For Digital Transformation; Malaysian Firms Sign 10 MOUs With Thai Tech Partners; Carro Plans US IPO Targeting $3 Billion Valuation; Kamet Capital Invests $8.4 Million In AI Startup TopView.ai; and Singapore And UK Asset Associations Join Blockchain Project
Environmental Sustainability: Fortescue Secures $1.98 Billion Loan for Decarbonization; Japan Airlines Completes Phase 1 Sustainable Aviation Project; Malaysia Plans Carbon Tax to Start in 2026; Gentari, AWS Sign 80MW Wind Power Deal in India; Schneider Electric Partners With Singapore Defense Agency; and SG Enviro Raises $6.2 Million for Southeast Asia Expansion
Aviation: Koala Airlines to Launch in Australia by Late 2026; India Raises Pilot Poaching Concerns at ICAO; AirAsia’s Parent Explores Aviation Hub in Vietnam; New Zealand Aircraft to Race for Australian Medivac; and South Korea Fines Korean Air, Asiana for Fare Hikes
Advanced Air Mobility: Stralis Aircraft Partners With Akita Universities for Hydrogen-Electric Aviation; Urban-Air Port and Nalwa Aero Team up for India’s AAM Infrastructure; and ANA Holdings, Joby Aviation Form JV to Deploy eVTOLs In Tokyo
Marine: Marinus Link Project Gets Final Approval, Construction to Start in 2026; CBH Group Launches Biofuel Shipping Pilot in Australia; Inpex Awards FEED Contracts for Indonesia LNG Project; Yinson Fully Buys out FPSO Atlanta Loan; and Vingroup Plans $14 Billion Port Hub in Vietnam
Space: China Tests Lanyue Lunar Lander; China Advances Guo Wang Satellite Network; Shanghai SpaceSail Tests Internet in Kazakhstan; India and Philippines Sign 14 Cooperation MoUs; and Boeing Delivers Satelit Nusantara Lima Satellite
Financing & Investments
Recent investment activity in Southeast Asia centers on strategic partnerships and capital inflows focused on digital transformation, crypto platforms, AI content creation, and regional digital trade. Key themes include cross-border collaborations in blockchain tokenization, cloud adoption, and fintech innovation, alongside major IPO plans signaling growing interest in automotive tech and AI-driven commerce from the region.
Indonesia
MEXC Ventures, the investment arm of cryptocurrency exchange MEXC, has made an undisclosed investment in Indonesian crypto exchange Triv, which is valued at $200 million.
💡MEXC Ventures said the partnership will enhance Triv’s coin offerings, liquidity, and product innovation while supporting the expansion of CryptoWave Media, Triv’s crypto news platform. Triv’s platform also provides access to U.S. stock market products, allowing Indonesian investors to diversify portfolios.
Malaysia
Maybank has signed a MYR 1 billion ($240 million) five-year strategic partnership with Microsoft to accelerate its digital transformation and enhance customer experience. The deal will see Maybank adopt Microsoft Azure as a core cloud platform for key systems and data, implement Microsoft 365 Copilot across its 44,000 employees, and strengthen cybersecurity with Microsoft’s security tools.
💡The partnership also includes upgrading to Microsoft 365, establishing a joint Center of Excellence for cloud and AI innovation, and nurturing in-house talent.
Malaysia-Thailand
Malaysian technology firms have signed ten MOUs with Thai partners, projected to generate over MYR 200 million ($47.28 million) in potential digital export opportunities. The deals, announced by the Malaysia Digital Economy Corporation (MDEC), include the renewal of MDEC’s 2023 agreement with Thailand’s Digital Economy Promotion Agency to deepen bilateral collaboration in developing the digital economy through joint initiatives and knowledge sharing.
💡The agreements, concluded during MDEC’s Digital Exports (DEX) CONNEX Thailand program at the Techsauce Global Summit 2025, cover joint ventures, technology transfers, and market access partnerships. Supported by 52 Malaysian tech companies, the program aims to strengthen cross-border digital collaboration across ASEAN.
Singapore
Carro is planning a US initial public offering as early as 2026 that could raise up to $500 million, targeting a valuation above $3 billion, Reuters reported. If completed, it would be the largest Southeast Asian IPO in the US since Sea’s $989 million listing in 2017 and the first major automotive tech and AI-driven commerce start-up from Singapore to debut there.
💡Carro aims to achieve $100 million in annual EBITDA by the financial year ending March 2026, though the final IPO size will depend on market conditions.
Singapore
Kamet Capital, a multi-single-family office, has invested approximately $8.4 million in Series A funding into AI avatar platform TopView.ai, valuing the company at around $30.7 million. Founded in 2024, TopView develops AI-powered content creation tools that allow brands to produce immersive, interactive product videos and photos without traditional filming or actors, using lifelike avatars that can demonstrate and interact with products on screen.
💡The funding will support TopView’s global expansion and further development of its proprietary Product Avatar and Product AnyShoot 2.0 solutions, which have driven over 50% month-on-month growth in recurring revenue. TopView’s clients include L’Oréal, ANTA, and Anker.
Singapore-UK
The Investment Management Association of Singapore (IMAS) and the United Kingdom’s Investment Association (IA) have joined Project Guardian, a Monetary Authority of Singapore (MAS)-led initiative exploring blockchain and asset tokenization.
They are the first domestic trade bodies and first asset management-specific associations to participate in the program, which seeks to establish standards, promote tokenization across asset classes, and develop a sustainable digital asset ecosystem with regulators such as the UK’s Financial Conduct Authority.
💡Both associations said tokenization could improve market efficiency, reduce costs, and expand investment access.
Environmental Sustainability
Asia-Pacific countries are advancing environmental sustainability through major investments in clean energy, carbon trading, and green technologies. Australia secured funding for decarbonization, Japan piloted SAF trading, Malaysia plans a phased carbon tax, and Singapore leads in smart grids and water treatment innovation.
Australia
Fortescue Metals Group has secured a 14.2 billion yuan ($1.98 billion) five-year syndicated loan from Chinese banks, including Bank of China and ICBC, to support its decarbonization strategy and general corporate purposes. The loan, with an annual interest rate of 3.8%, is the first of its kind for an Australian company with unrestricted use of proceeds.
💡The funding comes as Fortescue shifts its clean energy focus towards China following the cancellation of its green hydrogen projects in the U.S. and Australia.
Japan
Japan Airlines, ITOCHU, ENEOS, Nippon Express, Mizuho Bank, Mizuho Research, and Narita Airport Corporation have completed Phase 1 of a pioneering demonstration project to trade Scope 3 environmental value, aimed at promoting sustainable aviation fuel (SAF) use and advancing aviation decarbonization.
Running from August 2024 to March 2025, the test successfully verified a transparent platform for registering, matching, and contracting Scope 3 environmental value trades, with oversight by third-party verifier ClassNK.
💡Building on these results, the project will enter Phase 2 with expanded participation to further encourage Scope 3 environmental value awareness and trading.
Malaysia
BIMB Securities Research estimates Malaysia’s planned carbon tax, set to begin in 2026, could generate about MYR 980 million ($240 million) annually at an introductory rate of S$5 ($3.88) per ton, targeting high-emission sectors such as iron, steel, and energy. The rollout will coincide with the EU’s Carbon Border Adjustment Mechanism, which imposes tariffs on carbon-intensive imports.
💡The government plans to adopt a phased approach, similar to Singapore’s carbon tax model, starting at a low rate to allow industries to adapt before gradual increases.
Malaysia-India
Malaysian clean energy firm Gentari and Amazon Web Services (AWS) have signed a power purchase agreement for an 80MW wind energy project in Tamil Nadu, India. The project is scheduled to begin operations by mid-2027 and is expected to generate around 300,000 MWh of renewable energy annually.
💡The collaboration builds on a 2023 partnership and aims to deliver scalable, cost-effective clean energy solutions in Asia.
Singapore
Schneider Electric Singapore and the Defense Science and Technology Agency (DSTA) have signed a memorandum of understanding to jointly develop green technologies. The collaboration will explore deploying smart grid systems integrating renewable energy for power resiliency, and creating digital twins of building systems to monitor, analyze, and improve energy performance.
💡The partnership will also focus on strengthening cybersecurity for operational technology systems and exchanging best practices in sustainability and cyber defense.
Singapore
Industrial wastewater engineering firm SG Enviro (SGE) has raised S$8 million ($6.22 million) in a strategic investment led by global climate-tech venture capital firm Emerald Technology Ventures. The funding will support SGE’s expansion into Malaysia, Indonesia, and other Southeast Asian markets, as well as the integration of proprietary and advanced water treatment technologies into its solution portfolio.
💡Founded in 2018, SGE specializes in wastewater treatment systems tailored to regional environmental and regulatory needs. The partnership grants SGE access to Emerald’s global network of water technology companies, enabling the adoption of innovations such as advanced membranes, smart monitoring, AI-driven optimization, and new treatment chemistries.
Aviation
The Asia-Pacific aviation industry is evolving with a focus on regional expansion, sustainability, and regulatory oversight. Australia’s Koala Airlines aims to serve regional routes sustainably, Malaysia and Vietnam are developing a new aviation hub, and India urges global rules to manage skilled workforce mobility
Australia
Koala Airlines is set to launch in late 2026, targeting underserved regional markets across Australia with a focus on tourism-driven growth and sustainability. The airline plans to operate Boeing 737 MAX 8 aircraft and connect key hubs such as Sydney and Melbourne to regional destinations in Tasmania, Queensland, and Western Australia.
💡Positioning itself as a niche carrier, Koala Airlines will avoid competing directly with major airlines like Qantas and Virgin Australia, instead prioritizing unique travel experiences and sustainable practices.
India
India has submitted a working paper to the International Civil Aviation Organization (ICAO) ahead of its 42nd Assembly, raising concerns about overseas airlines recruiting experienced Indian pilots, engineers, and cabin crew. The paper highlights that this practice disrupts India’s civil aviation growth by forcing national carriers to constantly train replacements, particularly impacting specialized roles that require lengthy training.
💡The paper calls for a universal Code of Conduct among ICAO members to regulate staff movement and support the sustainable expansion of India’s rapidly growing domestic aviation market.
Malaysia-Vietnam
Capital A, the parent company of AirAsia, is exploring investment opportunities in an aviation industrial complex in Quang Tri province, Vietnam, in partnership with local conglomerate T&T Group. The discussions, held with Quang Tri officials, focused on leveraging the province’s investment incentives, workforce, and strategic location to develop aviation-related services including aircraft maintenance, logistics, and tourism.
💡The Quang Tri airport project, backed by T&T Group and Cienco 4, covers 265 hectares and is designed to meet ICAO level 4C standards, with capacity for five million passengers and 25,500 tons of cargo annually. Construction is scheduled for completion by July 2026, supporting the province’s plan to build an integrated aviation-logistics hub connecting Vietnam with regional neighbors.
New Zealand
A New Zealand-built SuperPac 750XL-II aircraft, developed by Hamilton-based NZAero and used by the United Nations, will tour Australia as part of the 2025 Outback Air Race to raise funds for the Royal Flying Doctor Service (RFDS). The event covers over 3,800 km and supports emergency medical care in remote Australian regions.
💡The SuperPac 750XL-II is capable of operating from extremely short runways and carrying up to nine passengers or 2,000 kg of cargo, making it ideal for medivac, humanitarian relief, and disaster response. The modular aircraft is designed for rapid role changes, including firefighting, cloud seeding, freight, and surveillance.
South Korea
South Korea’s Fair Trade Commission (KFTC) has fined Korean Air and Asiana Airlines ₩12.1 billion (US$8.7 million) for violating fare restrictions set during their merger approval in December 2024. The KFTC found both airlines increased ticket prices above the inflation-adjusted 2019 averages on key domestic and international routes, including flights from Incheon to Barcelona and Frankfurt, as well as the Gwangju to Jeju route.
💡The fare hikes breached conditions meant to protect consumers by preventing price increases following reduced competition from the merger. The KFTC stressed that these violations undermine consumer safeguards and signal a firm stance on enforcing compliance throughout the merger’s implementation period.
Advanced Air Mobility
Advanced Air Mobility is gaining momentum across Asia-Pacific, driven by partnerships advancing hydrogen-electric aircraft and eVTOL infrastructure. Australia-Japan’s Stralis Aircraft is developing propulsion tech and training, India’s Urban-Air Port and Nalwa Aero are integrating vertiports with eVTOLs, and Japan’s ANA Holdings with U.S. Joby Aviation plan to launch 100+ eVTOLs in Tokyo.
Australia-Japan
Queensland aerospace company Stralis Aircraft has signed a MoU with Akita University and Akita Prefectural University to advance hydrogen-electric aircraft development and aviation workforce training.
💡The agreement, announced at Expo 2025 Osaka, will enable Stralis to test its propulsion components at Akita’s electric aircraft testbed and support skills pathways for future aviation engineers.
India
Urban-Air Port and Indian eVTOL developer Nalwa Aero have entered a strategic partnership to develop scalable advanced air mobility (AAM) infrastructure for India’s growing aviation market. Together, they will integrate Urban-Air Port’s vertiports with Nalwa Aero’s NALWA 5X eVTOL aircraft for passenger, cargo, medical, and defense applications.
💡The agreement gives Urban-Air Port preferential rights for AAM infrastructure projects in India, while Nalwa Aero will prioritize deploying its eVTOLs on Urban-Air Port platforms. They will also collaborate on product development and a flagship showcase combining Urban-Air Port’s Air-One vertiport with Nalwa Aero’s aircraft.
Japan-USA
ANA Holdings and Joby Aviationplan to form a joint venture and deploy over 100 of Joby’s eVTOL aircraft, starting with a phased rollout in Tokyo. The initiative aims to address urban transportation challenges by offering fast, quiet, and zero-emission flights, reducing travel times and congestion.
💡Joby’s eVTOL aircraft will be showcased in public demonstration flights at Expo 2025 Osaka from October 1-13, featuring a special ANA livery. The companies will also develop necessary infrastructure including vertiports, pilot training, and maintenance, collaborating with government and private partners like Toyota to build a comprehensive air taxi ecosystem in Japan.
Marine
Marine and energy projects are advancing across Asia-Pacific with strong focus on sustainability and infrastructure. Australia’s Marinus Link will connect Tasmania and Victoria with a renewable subsea energy link, while CBH Group pioneers biofuel-powered grain shipping. Japan’s Inpex is developing the Abadi LNG project in Indonesia, integrating carbon capture.
Australia
Marinus Link project has received Final Investment Decision and federal environmental approval, allowing Stage 1 construction to begin in 2026. The project will connect Tasmania and Victoria with a 750MW subsea HVDC link, enabling renewable energy transfer and improving grid stability. The full link will ultimately provide 1500MW capacity.
💡The link is expected to reduce emissions by over $1 billion, lower energy costs, and create up to 3,300 jobs during construction. Completion of Stage 1 is planned for 2030, with environmental safeguards in place to protect marine and terrestrial ecosystems.
Australia
Australia’s agricultural co-op CBH Group has teamed up with shipping firms Norden and Oldendorff to launch the country’s first biofuels insetting pilot. The project uses waste-based biofuels and book-and-claim solutions to transport Western Australian grain to the EU, achieving significant emission reductions without added costs to growers.
💡So far, eight voyages have used this biofuel-powered shipping method. This builds on a 2022 CBH-Oldendorff trial shipping malting barley from Western Australia to Vietnam using biofuels supplied by BP, aimed at testing supply chains and renewable energy blends in practice.
Japan-Indonesia
Japanese oil and gas company Inpex has awarded front-end engineering and design (FEED) contracts for its Abadi LNG project in Indonesia’s Masela block. The FEED scope covers the onshore LNG plant, FPSO, subsea umbilicals, risers and flowlines (SURF), and gas export pipeline, with integrated carbon capture and storage components.
💡The onshore plant and FPSO FEED contracts use a dual consortium approach, with Inpex set to select the contractor offering the best technical and commercial proposal. Technip-led and Saipem-led consortiums are handling the FPSO FEED, while JGC- and KBR-led groups are working on the onshore plant. Worley is managing the SURF and gas export pipeline FEED. The Abadi project aims to produce 9.5 million tons of LNG annually, supplying over 10% of Japan’s LNG imports and enhancing regional energy security.
Singapore
Singapore-based Yinson Production has fully bought out the $408.8 million project loan for FPSO Atlanta from Brazilian oil company Brava Energia. Yinson paid approximately $255.5 million in cash plus $1.9 million in accrued interest, using cash on hand, with plans to raise new debt financing for the FPSO in the future.
💡Yinson acquired FPSO Atlanta from Brava in 2023 via a purchase option, initially partly financed by the project loan. The FPSO, under a 15-year firm contract with Brava and a five-year extension option, achieved first oil on December 31, 2024, with a remaining contract value of about $2 billion.
Vietnam
Vingroup plans to invest VDN374 trillion ($14 billion) in a major port and logistics hub in Haiphong, about 100 km east of Hanoi. The project will be developed in three phases through 2040, supporting Vingroup’s expanding industrial presence, including its VinFast EV plant.
💡Vingroup will finance 15% internally, with the rest raised through borrowings.
Space
Space ambitions are accelerating, marked by China’s key lunar lander test advancing its manned moon landing goal by 2030 and rapid expansion of the Guo Wang satellite constellation for global internet. Shanghai’s SpaceSail is proving satellite internet’s reach in remote Kazakhstan, while India and the Philippines deepen ties on space and defense cooperation through multiple MoUs. In the US-Indonesia corridor, Boeing prepares to launch a high-capacity communications satellite to boost Indonesia’s broadband and disaster response capabilities by early 2026.
China
China conducted its first test of the Lanyue lunar lander on August 6 at a Hebei province site designed to simulate the moon's surface. The test verified the lander’s ascent and descent systems under multiple operational conditions, marking a key milestone in China’s manned lunar exploration program. Lanyue is intended to transport astronauts between lunar orbit and the moon’s surface and serve as a habitat, power source, and data center.
💡China aims to achieve a manned moon landing before 2030, supporting plans to build an International Lunar Research Station with Russia by 2035. The country’s recent uncrewed lunar missions have successfully retrieved samples from both the near and far sides of the moon, strengthening its position in the global space race.
China
China is rapidly advancing its state-run Guo Wang satellite constellation, launching 57 satellites so far with three Long March rockets used in just the past week, signaling strong government prioritization of this 13,000-satellite internet network planned for completion within a decade.
💡Meanwhile, the Shanghai-backed Qianfan project, with 90 satellites already in orbit, has stalled since March due to limited access to state-owned rockets and is now seeking private launch providers, issuing tenders worth 1.4 billion yuan for satellite deployments by March 2026.
China
Shanghai SpaceSail successfully tested its satellite internet service in Kazakhstan’s Almaty region, achieving connection speeds up to 200 Mbps, according to Kazakhstan’s Ministry of Digital Development.
The test showcased the company’s ability to deliver high-speed, stable internet in remote areas where traditional fiber-optic networks are impractical. The partnership aims to reduce digital inequality by connecting rural schools, healthcare facilities, and critical infrastructure across Kazakhstan.
💡SpaceSail plans to launch official operations in Kazakhstan in 2026, while expanding globally with ambitions to deploy over 648 satellites by the end of 2025 and 15,000 by 2030
India-Philippines
India and the Philippines signed and exchanged 14 MoUs to enhance cooperation across multiple sectors, including defence, digital technologies, space, science, tourism, and legal assistance. The countries also adopted Terms of Reference for negotiations on a Preferential Trade Agreement (PTA) and agreed on a strategic partnership plan of action for 2025-2029.
💡The MoUs include expanded military staff talks, enhanced coast guard cooperation, a digital technologies pact, and collaboration between ISRO and the Philippine Space Agency on peaceful space uses.
USA-Indonesia
Boeing has delivered the Satelit Nusantara Lima (SNL) communications satellite to PT Pasifik Satelit Nusantara (PSN). The satellite, built on Boeing’s 702MP platform, offers over 160 Gbps of capacity to support broadband and critical communications services nationwide.
💡Scheduled for launch next month from Florida’s Space Coast, SNL features advanced payload technology enabling dynamic allocation of bandwidth to meet shifting demand, including disaster response. It is expected to enter commercial service in geostationary orbit by early 2026, with a 15-year mission powered by solar wings developed by Boeing subsidiary Spectrolab.
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**Nothing in this article is intended to be or should be construed as legal or financial advice.**