Hong Kong has renewed the contract of Securities and Futures Commission chief executive Julia Leung Fung‑yee for a further two years to the end of 2027, ensuring continuity as the markets watchdog advances regulatory and market reforms. Leung, who joined the SFC in 2015 and became CEO in January 2023 after serving as deputy CEO, previously held senior roles at the Hong Kong Monetary Authority and as Under Secretary for Financial Services and the Treasury. The government said

Revenue in Singapore’s accountancy sector rose 7.5% to SGD3.5bn (USD2.7bn) in 2024, with the Big Four accounting firms Singapore driving nearly half the increase, according to Accounting and Corporate Regulatory Authority (ACRA) AE Survey 2025. Industry takings grew by SGD244.5m, of which Deloitte, PwC, EY and KPMG contributed SGD112.5m, powered mainly by a 9.6% rise in audit and assurance income. The Big Four maintained dominance at about 70% of total industry revenue. Growt

Singapore has cemented its status as a top Singapore wealth hub, ranking alongside Dubai and New York in Savills’ latest index of high‑net‑worth hotspots. The city‑state scored strongly on economic competitiveness, connectivity and wealth infrastructure, underpinned by the absence of inheritance, capital gains and wealth taxes, and a 24% top marginal personal income tax rate. Savills placed Singapore third globally and the leading Asia‑Pacific market, ahead of Shanghai, Bangk

Hong Kong is intensifying efforts to market itself as a global family office hub through a new Financial Services Development Council (FSDC) campaign promoting the city as “where money comes to grow”. The four-part short-form series highlights low taxes, free capital flows and a common-law system that policymakers say anchor its role as Asia’s leading financial centre and cross-border wealth-management base. The FSDC projects that Hong Kong could manage about USD2.9tr in cros

Hong Kong Investment Corporation (HKIC) earned more than HKD2bn (USD256m) in 2024 investment income, driven by initial public offerings and biotechnology allocations, chief executive Clara Chan told Bloomberg TV. Formed in 2022 with HKD62bn to strengthen the city’s economy and mainland links, HKIC has deployed less than 20% of its capital but remains “in perfect alignment” with its plans. The fund is entering a second phase to pursue larger deals alongside sovereign funds, pe

Family-owned enterprises are expected to outperform non-family firms over the next decade, despite mounting risks, according to Deloitte Private. Companies with at least USD100m in revenue now represent 22 percent of large enterprises and are projected to grow 22% in number between 2020 and 2030, with turnover rising 84% versus 59% for other businesses. Singapore family businesses are especially optimistic: 54% expect revenue growth above 10% in 2025, more than double last ye

Thailand’s main business lobby has urged lawmakers to reconsider three draft bills on labour protection, clean air and factory operations, warning they could raise costs and erode competitiveness amid a sluggish economy. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) said the measures, though well-intentioned, risk undermining investor confidence and should undergo a full regulatory impact assessment. Federation of Thai Industries chairman Kriengkrai

DBS and Franklin Templeton have jointly launched Singapore’s first tokenised retail fund, advancing efforts to mainstream digital finance. The Franklin Onchain US Dollar Short-Term Money Market Fund, a USD-denominated strategy recorded on a blockchain register, has been approved by the Monetary Authority of Singapore as an authorised scheme. Available via DBS relationship managers to wealth clients and accredited investors, the fund has a USD20 minimum investment, with a reta

Global accounting firm BDO has resigned from its work for DW Capital Holdings, a Singapore family office sanctioned by the US and UK over alleged links to Cambodia’s Prince Group. Two BDO employees also stepped down as DW Capital’s company secretaries following the US Treasury’s action. The firm had helped incorporate DW Capital in 2018, using BDO’s Singapore office address in filings. Authorities imposed sanctions on 146 individuals and entities tied to what they described a

Private funding for Southeast Asia’s digital economy grew 15% year on year to USD7.7bn in the 12 months to June 2025, though it remains about 70% below the 2021 peak, according to the Google-Temasek-Bain report. Growth lagged the global 25% pace, with capital concentrated in late-stage rounds while early-stage deals dropped from 30% to about 20%. The study, expanded to 10 markets, found that AI accounted for 32% of total funding in H1 2025, up from 30% in H2 2024, as over 680

Hong Kong will review how audit firms use artificial intelligence, with the Accounting and Financial Reporting Council (AFRC) preparing guidance to raise awareness and support responsible deployment, Financial Secretary Paul Chan said. The initiative aligns with the government’s “twin-engine” AI strategy to make AI a core industry and upgrade traditional sectors. Global regulators are examining AI’s impact on data integrity, transparency and liability in assurance work. The A

Asia’s private credit lenders are increasingly adopting payment-in-kind (PIK) structures as higher-for-longer interest rates, tighter bank capital rules and shallow bond markets squeeze borrowers’ cash. Previously used mainly in distressed and mezzanine deals, PIK is now emerging in senior direct lending, allowing interest to accrue to principal or convert to equity to preserve liquidity while increasing leverage. Variations include holdco PIK, split PIK and toggle PIK, with

Hong Kong police have charged 16 people in connection with the JPEX cryptocurrency scandal, including former barrister and influencer Joseph Lam Chok, on conspiracy to defraud counts. Authorities said three additional suspects – two masterminds and a core member – have fled overseas and are now the subject of Interpol notices. The probe, launched in September 2023, has led to 80 arrests and the freezing of HKD228m (USD29m) in assets, including HKD14.5m in cryptocurrencies, pr

Thailand’s central bank will now permit non-bank institutions to establish asset management joint ventures to help resolve bad loans, expanding a framework previously limited to banks, according to rules published in the Royal Gazette. Applicants have two years to file, with each JV-AMC allowed to operate for up to 15 years. Initially deployed during the pandemic, the scheme has been extended to support ongoing debt workouts. Krungthai Bank plans to apply next year and expect

Indonesia’s economy expanded 5.04% year on year in the third quarter, easing from 5.12% in Q2 as weaker sentiment and late-August protests weighed on spending and investment. The figure, matching Bloomberg forecasts, still outpaced regional peers but indicated softer domestic demand under President Prabowo Subianto’s new administration. Economists said the slowdown could prompt Bank Indonesia to remain dovish, with OCBC’s Lavanya Venkateswaran expecting a cumulative 50-basis-

Thailand will set up a new data bureau to trace suspicious fund flows tied to online gambling, scam accounts, and other grey-money channels, Finance Minister Ekniti Nitithanprapas said. The system, due by December, will integrate data across ministries, banks, and regulators under a “Connect the Dots” task force with the Bank of Thailand. Prime Minister Anutin Charnvirakul backed the move amid questions over the baht’s firmness despite weak growth. Authorities said illicit fu

Hong Kong could overtake London as the world’s No.2 financial centre next year, according to GCM Grosvenor CEO Michael Sacks at the Global Financial Leaders’ Investment Summit. He cited the city’s talent depth, international access, and rule of law as major strengths. Hermes Li of Aspex Management said Hong Kong should benefit as Chinese savers shift from property to equities and as more A-share tech firms pursue local IPOs, including CATL’s 2025 debut (stock code 3750). For

Hong Kong will leverage artificial intelligence to attract global investment, Financial Secretary Paul Chan said at the Global Financial Leaders’ Investment Summit. Highlighting the Hong Kong AI push, Chan cited WTO data showing that private capital in AI reached about USD190bn this year. The city will adopt a 'twin-engine' strategy—developing AI as a core industry while using it to upgrade traditional sectors. Government initiatives include direct investments, startup suppor

Morgan Stanley CEO Ted Pick and Goldman Sachs CEO David Solomon warned that a market correction is likely, even as they remain positive on the overall cycle. Speaking at Hong Kong’s Global Financial Leaders’ Investment Summit, they said equity indices could experience a 10–20% drawdown within 12–24 months. While the S&P 500 has risen more than 15% this year following steady gains since April, the executives noted that elevated technology valuations and the strong run in preci

The InvestHK initiative seeks to increase Hong Kong-registered fintech firms’ presence in Philippines , as only 1.9% currently operate there — the lowest among ASEAN peers. Speaking at Hong Kong FinTech Week 2025, officials said stronger promotion and confidence-building are needed for Manila amid low FDI levels from Hong Kong. Singapore hosts 37% of regional fintechs, followed by Malaysia (20.4%), Thailand (11.1%), Indonesia (7.4%) and Vietnam (6.5%). InvestHK praised the Ph