ASEAN Daily Updates: 2-7-2026 Mitsubishi Electric Acquires Infostellar & More

Mitsubishi Electric Thursday said it has acquired Infostellar Inc., a provider of cloud-based ground station services for satellite operators. 

Financial terms were not disclosed. 

Through their collaboration, the two companies aim to expand ground station services for satellite operators, the demand for which is growing rapidly worldwide. Diverse services using small satellite constellations are increasing, rapidly growing the need for private-sector companies to develop and provide ground station networks needed to operate satellite-based services.

Mitsubishi Electric and Infostellar aim to accelerate the global expansion of ground station networks and establish space communications infrastructure. Their collaboration will combine Mitsubishi Electric’s satellite and ground facility development, manufacturing and system integration capabilities, cultivated over many years in defense and space systems businesses, with Infostellar’s GSaaS platform and agile development capabilities.

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NASDAQ-LISTED POLIBELI IN PACT WITH AUTHAIKAM FOR 100 MW AI COMPUTING CENTER PROJECT IN THAILAND

Nasdaq-listed Polibeli Group, a global digital supply chain solutions provider, Thursday said it has entered into a pact with Authaikam Company, a Thailand-based company, to jointly evaluate a potential artificial intelligence  computing center project in Thailand.

The contemplated project, if pursued, may include a planned power capacity of up to approximately 100 megawatts. 

Polibeli, headquartered in Jakarta, Indonesia, operates a global digital supply chain platform  across Asia-Pacific, Europe, and North America. It went public in August 2025 through a SPAC merger and is listed on the Nasdaq Stock Market.

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SKF SETS UP JV IN CHINA FOR PRECISION COMPONENTS IN HUMANOIDS

SKF and Leaderdrive, a global manufacturer specializing in precision robotic components, Thursday said they have signed an agreement to establish a venture in China focused on high-precision transmission components for robot joints. 

Through this investment, SKF takes an important step in the robotics industry, with a particular focus on the application of humanoids powered by Embodied AI technology in industrial settings. 

SKF will hold a 60% majority stake in the venture, which supports the Group’s strategic focus on high-growth segments.

The venture will develop and supply high-precision transmission components for robot joints that support the reliability required for continuous operation of humanoids in industrial applications. 

Leaderdrive contributes with deep application know-how in automation products and humanoid robotics, while SKF brings expertise in bearing technology, scalable manufacturing and global supply chains. Together, the companies aim to accelerate time to market and support readiness for volume production in a fast-growing market for Embodied AI Humanoids.

“This venture is well aligned with our strategy to drive profitable growth and strengthen our position in selected high-growth industrial segments. Targeting the industrial humanoid segment, this partnership provides the agility needed to respond to rapid market iterations, while leveraging our core technologies to support industry advancement,” says Henry Wang, President, Industrial Region China and North-East Asia.

“As the Embodied AI humanoids industry continues to scale, the stable delivery of reliable core transmission components becomes a critical differentiator. Building on our shared foundation in industrial applications, we can help drive technological development in these humanoids and create sustainable value in this expanding market,” says Yuyu Zuo, Chairman of the Board and Executive Director at Leaderdrive.

Headquartered in China, the venture will be positioned close to key supply chains and customers, enabling a responsive operating model. In addition to serving China, the world’s largest and fastest-growing humanoid robotics market, the venture will leverage SKF’s global sales network to target selected international markets, including Europe, Japan and the US. The venture is expected to become operational end of 2026.

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JAPAN’S KURITA AND MEMBRANE GROUP ESTABLISH INDIA JV FOR SEMICONDUCTOR INDUSTRY

Kurita Industries, based in Japan, has established a joint venture, Kurita Membrane India and started its business, specializing in water treatment solutions for electronics industry, primarily semiconductor sector, in India, together with Membrane Group India, which operates in the design, manufacture, installation and servicing of water treatment equipment in the country. 

Amid the rapidly expanding demands for semiconductors, driven largely by the rapid growth of generative AI, and the global trend of expanding and diversifying production locations to swiftly and effectively meet such demand, India has also seen a rapid increase in investment from both domestic and international semiconductor-related companies, owing to the government’s proactive policies to attract the industry. 

In line with these developments, the size of India’s semiconductor market is forecasted to rise from an estimated US$ 15 billion in 2020 to over US$ 64 billion by 2026 and reach US$ 110 billion by 2030. 

Furthermore, the 10-year roadmap published by the government-affiliated think tank NITI Aayog (National Institution for Transforming India) in May 2026 sets a target of establishing a semiconductor value chain worth between US$ 120 billion and US$ 150 billion by 2035.

Kurita provides a range of water treatment solutions for the electronics industry, including semiconductors, in Japan, East Asia, North America, and Europe, which is essential for their manufacturing processes, such as the production and supply of ultrapure water to recovery and reuse of wastewater, meeting customer needs and regional characteristics. 

The JV will provide water treatment, wastewater recycling, resource recovery, water analysis service, and environmental solutions to the electronics sector, including semiconductor, in India.

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TOTALENERGIES DIVESTS ITS MINORITY INTEREST IN MALAYSIA’S MARJORAM GAS FIELD FOR $350 MILLION

TotalEnergies Thursday said it has divested to INPEX of its 85% interest in Block 2E offshore Malaysia, representing a net interest of 8.5% in the Marjoram gas field currently under development, for a consideration of US% 350 million.

Through this transaction, TotalEnergies crystallizes the full value of this minority interest in a non-operated gas project, to focus on its operated portfolio and strategic growth opportunities in Malaysia.

“This agreement is fully aligned with our strategy of actively managing our portfolio and prioritizing material positions to support our ambition to develop low-cost, low-emission projects. With Jerun field now on stream and a large portfolio of opportunities, Malaysia is a strategic platform for TotalEnergies’ low-cost, low-emission growth strategy, serving both the country and the wider Southeast Asia region,” said Nicolas Terraz, President Exploration & Production at TotalEnergies.

SINGAPORE – ONLY ASIAN COUNTRY IN WORLD’S TOP 10 GLOBAL PASSPORT INDEX

Singapore is the only Asian country in the world’s top 10 of the Global Passport Index, which ranks countries on mobility, investment and quality of life. The ranking is done by Global Citizen Solutions, a global residency and citizenship planning advisory firm

In its fifth annual edition of the Global Passport Index, ranking 197 countries, the 2026 edition highlights Asia’s extremes: Singapore’s unmatched dominance on the dimensions a state can build, and Hong Kong’s sharp single-year rebound on mobility.

Singapore (10th, 92.80) is the only non-European entry and the only Asian passport in that tier. Europe is the only region in the index with a positive five-year trajectory, and the Schengen Area’s expansion to 29 states has reinforced a structural mobility premium that no other region approaches. 

The 2026 top ten remains overwhelmingly European: nine of the ten strongest passports in the world belong to European states, led by Sweden (1st, 96.05), Switzerland (2nd), and Finland (3rd), spanning a band of barely three points top to bottom. 

Singapore leads mobility outright and ranks 1st on investment, ahead of Switzerland and the US. Hong Kong has built its passport strength almost entirely on investment (top six for five editions) while mobility lagged before surging from 46th to 31st in 2026.

“In mobility and investment, Singapore’s passport stands tall. Its travel freedom has been ranked 1st in the world with a perfect score of 100 every year since 2021. On investment it is also 1st. No country has paired maximum global access with maximum economic pull as completely or as durably. That it still ranks only 10th overall comes down to quality of life, where there’s room for improvement.” Patricia Casaburi, CEO, Global Citizen Solutions.

“Hong Kong’s passport is a barometer of its identity as a financial gateway. Its investment score has ranked among the world’s top six for half a decade, even as travel freedom wavered and quality of life languished near 120th. The striking development in 2026 is the rebound: mobility leapt from 46th to 31st in a single year. Whatever the political headlines, the passport’s value as a key to global capital, and increasingly to global movement, has proven remarkably resilient.” Dr. Laura Madrid, Global Intelligence Unit Lead Researcher, Global Citizen Solutions.

GuocoLand

GUOCOLAND SECURES S$634.7 MILLION GREEN FINANCING FROM OVERSEA-CHINESE BANKING, COMMERCIAL BANK OF CHINA

Singapore-based GuocoLand Limited Thursday said it has secured a S$634.7 million green club facility from Oversea-Chinese Banking Corporation and Industrial and Commercial Bank of China Limited Singapore Branch to finance the development of its Lentor Central site.

Raised under GuocoLand’s Green Finance Framework, the latest green facility for the future residential development at the Lentor Central site expands GuocoLand’s portfolio of green facilities for its residential properties, including Springleaf Residence, Faber Residence and River Modern; as well as for the commercial components of its integrated mixed developments, Guoco Tower and Guoco Midtown.

The 171,424 sq ft land parcel at Lentor Central marks GuocoLand’s fifth site within the Lentor Hills estate. GuocoLand plans to develop a condominium comprising approximately 553 units across three towers – two at 26 storeys high and one with 27 floors. 

The 99-year leasehold site is adjacent to GuocoLand’s Lentor Modern, an integrated mixed development comprising 605 residences and a 90,000 sq ft retail mall with direct access to Lentor MRT station on the Thomson-East Coast Line. With Lentor Modern mall, future residents will enjoy convenient access to a wide range of dining and lifestyle selections and essential services, including everyday necessities from anchor tenant Cold Storage Fresh.

Ms Dora Chng, Residential Director of GuocoLand, said, “The Lentor Central site is GuocoLand’s fifth land parcel in Lentor Hills, reflecting our confidence in the neighbourhood and our commitment to shaping it into a vibrant and highly sought-after residential estate. We have established a strong presence here and are excited to create another thoughtfully planned luxury development, with our signature features, including lush landscaping and efficient unit layouts.”

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GORILLA TECHNOLOGY LAUNCHES INVESTMENT FUND BY ACQUIRING SHACKLETON FINANCE

London-headquartered Gorilla Technology, a global AI solution provider, Thursday said it has acquired Shackleton Finance, establishing the foundation for Gorilla Tech Capital, a dedicated regulated capital platform. 

The completion marks an important step in Gorilla’s strategy to pair its growing pipeline of AI infrastructure, data centre and GPU-as-a-Service opportunities with long-term institutional capital. 

Gorilla Tech Capital is expected to focus on raising capital from pension funds, sovereign wealth funds, insurers, family offices and other professional institutional investors seeking exposure to next-generation digital infrastructure.

The platform is intended to support the financing of Gorilla’s expanding global project pipeline while reducing reliance on dilutive equity financing. Through fund structures and project-specific investment vehicles, Gorilla Tech Capital will seek to mobilise long-term capital into contracted or near-contracted opportunities across AI compute, data centres, cybersecurity, smart infrastructure and related digital assets.

“Today’s completion is more than a transaction milestone. It gives Gorilla a strategic capital formation platform at exactly the right time,” said Jay Chandan, Chairman and Chief Executive Officer of Gorilla Technology Group. “Our pipeline is growing quickly and our priority is clear: we want to fund that growth intelligently, with long-term institutional capital and without unnecessary dilution to shareholders. Gorilla Tech Capital gives us the ability to match world-class infrastructure opportunities with capital that understands the scale, duration and importance of AI infrastructure.”

Deborah Hudson, Managing Partner of Gorilla Tech Capital, added: “Institutional investors are increasingly looking for disciplined access to AI infrastructure, digital compute and mission-critical technology assets. Gorilla Tech Capital has been created to provide that access through a regulated, governance-led platform. Our focus will be on building investment strategies that are institutional in quality, commercially disciplined and directly aligned with the infrastructure needs of the next phase of AI growth.”

Gorilla expects Gorilla Tech Capital to become an important part of its broader financing architecture, sitting alongside traditional project finance, customer prepayments, vendor financing and strategic partnerships. The Company believes this structure can help accelerate delivery of large-scale projects while preserving shareholder value.

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AUSTRALIA-BASED QBE INSURANCE TAKES FULL CONTROL OF RAHEJA QBE GENERAL INSURANCE IN INDIA

Australia-based QBE Insurance, an international general insurer and reinsurer, has acquired 100% ownership of Raheja QBE General Insurance, following approval from the Insurance Regulatory and Development Authority of India.

Financial terms were not disclosed. 

The acquisition follows 18 years of joint ownership with Prism Johnson and marks a milestone in QBE’s strategic expansion in the Asian region. 

Raheja QBE is also being renamed and will be known as QBE as part of this acquisition. 

“India is one of the world’s most dynamic markets – and we are well positioned to deploy QBE’s capabilities and unlock the next phase of growth in a country we believe has enormous long-term potential,” said Rob Kosova, CEO, QBE Asia. 

Sole ownership will enable QBE to explore new opportunities for product and operational innovation, with the goal of improving and creating customer-centric solutions across the Indian insurance landscape. Both QBE Asia and Raheja QBE teams will continue to drive the local business forward.

“While ownership is changing, our focus remains exactly the same: supporting our customers, partners and people,” said Kosova. “Our priority is to build on the strong foundations already in place, preserve continuity for customers and create new opportunities for growth, innovation and career development. We are excited to welcome the India team fully into the QBE family and to shape the future of this business together.”

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JAPAN’S GNI ACQUIRES AYUMI PHARMACEUTICAL FROM BLACKSTONE FOR $275 MILLION

GNI Group,  a global biopharma company headquartered in Japan, Thursday said it has acquired all shares of Ayumi Pharmaceutical Holdings from shareholders led by Blackstone for an enterprise value of  JPY 44.8 billion (US$275 million). 

Ayumi Pharmaceutical is a pharmaceutical company with a stable earnings base and capabilities in the pain management field. Its product portfolio includes Calonal, an antipyretic and analgesic that has been used in medical practice in Japan for more than 40 years. 

Ayumi Pharmaceutical holds a domestic market share of more than 80% — approximately 83% — for acetaminophen products, and recorded revenue of approximately JPY 38.5 billion for the fiscal year ending March 2026.

GNI Group has completed settlement of the acquisition consideration, with an enterprise value of approximately JPY 44.8 billion, through a combination of cash and the issuance of new shares of the Company. 

In connection with the transaction, GNI Group will welcome Blackstone, Toho Holdings and Hisamitsu Pharmaceutical as new shareholders.

Dr. Ying Luo, Representative Executive Officer, President and CEO of GNI Group, said: “The acquisition of Ayumi Pharmaceutical marks an extremely important milestone in further strengthening our global business foundation across Japan, the United States, China and Australia. By integrating Ayumi Pharmaceutical’s domestic sales infrastructure and pain management product portfolio into our Group, we will be able to deliver more products directly to patients with unmet medical needs. We are honored to welcome Blackstone, Toho Holdings and Hisamitsu Pharmaceutical as new shareholders. Going forward, we will work closely with all stakeholders to advance the next stage of growth for our Group.”

Through this acquisition, GNI Group will significantly expand its sales platform in Japan and build a pharmaceutical platform expected to accelerate the introduction of innovative medicines, biosimilars and internally developed products into the Japanese market. 

This platform is expected to secure a continuous earnings base in Japan, further diversify the Group’s regional revenue base across Japan, the United States, China and Australia, and support long-term sustainable growth.

By adding a solid business platform in Japan, GNI Group will establish a stronger management base with a more balanced revenue structure across its four key regions: Japan, the United States, China and Australia.

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SINGAPORE’S OMOWAY RAISES SERIES A AND A+ FUNDING ROUNDS

Singapore-based OMOWAY,  a player in wheeled robotics. Thursday said it has completed its consecutive Series A and Series A+ financing rounds. 

The Series A+ round was led by Lochpine Capital. The Series A round was led by Monolith, with CICC Capital and existing investor ZhenFund participating as follow-on investors. Both rounds raised tens of millions of U.S. dollars.

Lochpine Capital is the industrial investment fund established and backed by global industry leader CATL. 

Less than two years after its founding, OMOWAY has completed multiple financing rounds and obtained strong support from both top-tier financial investors, including Hongshan, ZhenFund, Monolith, and CICC Capital, and leading strategic investors such as Lochpine Capital, Rockets Capital (CVC fund of XPeng), and Hui Capital (industrial fund founded by a BYD co-founder). 

The company’s OMO-X electric bikes come with features including low-speed balance assistance powered by OMOWAY’s proprietary self-balancing technology. 

Motorcycles have always faced one fundamental challenge: they are inherently unstable and prone to tipping over, especially at low speeds.

To address this long-standing industry pain point, the OMOWAY team conducted hundreds of user studies and completed thousands of iterations of key components before successfully developing a self-balancing technology – a fully proprietary OMO-ROBOT universal architecture – and bringing it from prototype stage into mass production.

OMOWAY has established dozens of dealer locations across key regions, including Jakarta, Bandung, Surabaya, other major cities across Java, and Bali. Following the commencement of global deliveries, OMOWAY will further expand into Thailand, Singapore and European markets in the future.

OMOWAY is establishing itself into a two-wheel mobility company through continuous innovation. Starting with two-wheeled mobility, OMOWAY looks toward a broader horizon, from personal transportation and logistics to public services, driving intelligence and sustainability globally, and delivering innovative smart experiences to every life.