SEAFIC Futurist Weekly #12

Malaysia emerges as top market for IPOs in H1 2026

Malaysia emerged as the top market for IPOs in the first half of 2026 with 36 listings, while Singapore trailed with five debuts. The listings in Malaysia raised USD 1.3 billion, while those in Singapore raised USD 868 million. Read more.

Summary: According to a recent Deloitte report, Southeast Asia saw 47 IPOs in the first half of 2026, raising more than USD 3.07 billion in proceeds. In comparison, while H1 2025 saw 53 IPOs, the proceeds totaled only USD 1.41 billion. Deloitte noted that a resilient IPO market in Southeast Asia continues to attract larger and higher-quality listings despite a moderation in overall IPO volumes. Southeast Asia’s listing performance was supported by three IPOs that each raised more than USD 500 million, with these three listings collectively contributing about USD 8.93 billion in market capitalisation.

Indonesian government disburses IDR 65 trillion to support 14.9 million MSMEs

The Indonesian government has disbursed IDR 65 trillion in micro-financing to approximately 14.9 million previously unbanked micro, small and medium enterprises (MSMEs) through the Government Investment Center (PIP). Read more.

Summary: According to Indonesia’s Finance Minister Purbaya Yudhi Sadewa, Indonesia currently has approximately 66.5 million MSMEs. More than 67% of those MSMEs are micro-enterprises, contributing more than 60% of GDP and employing nearly 117 million people. The minister acknowledged that micro and ultra-micro businesses remain the most vulnerable to market volatility, such as when raw material prices rise, demand drops, distribution is disrupted, or there are sudden immediate needs.

Johor Bahru-Singapore RTS Link to spur Singaporeans to spend USD 1.05 billion more annually in Johor Bahru

According to a recent study by the Singapore Business Federation (SBF), the Restaurant Association of Singapore (RAS) and the Singapore Retailers Association (SRA), when the Johor Bahru-Singapore RTS Link begins passenger service in January 2027, Singaporeans are projected to spend USD 1.05 billion more that year in Johor Bahru. Read more.

Summary: In comparison, visitors from Johor Bahru are expected to spend USD 756 million more in Singapore. The study estimated that in 2025, Singaporeans spent about USD 1.7 billion in Johor Bahru, while those from Johor Bahru spent about USD 1.3 billion in Singapore. The study projected a 51% annual increase in Singapore consumers crossing over to Johor Bahru once the RTS Link opens, with groceries, pharmaceuticals, dining and beauty currently topping the list of categories Singaporeans intend to spend on.

Thailand to conclude free trade negotiations with the EU by year-end

Thailand aims to conclude negotiations over a free trade agreement with the European Union by the end of this year, with differences over agricultural products and raw materials remaining unresolved. Read more.

Summary: As noted by Prime Minister Anutin Charnvirakul, talks between Thailand and the EU have slowed during the final stages as both sides work to resolve differences over sensitive topics. Anutin stated that the remaining obstacles revolved around raw materials and agricultural products. A source familiar with the negotiations noted that the EU has strict requirements on the origin of agricultural raw materials, including environmental standards, anti-deforestation measures and chemical use. The EU also has strict rules of origin determining the proportion of domestic or partner-country inputs required for products to qualify for zero tariffs. 

Thailand extends work permits for about 770,000 migrant workers from Laos, Myanmar, and Vietnam

On 14 July, the Thai Cabinet approved an extension of work permits for about 770,000 migrant workers from Laos, Myanmar, and Vietnam to ensure an adequate workforce for the manufacturing and services sectors and to sustain economic activity. Read more.

Summary: This resolution continues measures approved by the Cabinet in November 2025, which set guidelines for managing foreign workers from Laos, Myanmar, and Vietnam. The original measures were set to expire in December 2026; however, some foreign workers were unable to complete the necessary legal procedures within the set timeframe. The extension thus allows foreign workers to meet their legal conditions while helping businesses maintain a stable workforce as many sectors of the Thai economy continue to rely heavily on foreign labour.

China overtakes United States to become largest buyer of Vietnamese seafood

China has surpassed the United States to become the largest buyer of Vietnamese seafood, with Chinese imports in the first half of 2026 reaching nearly USD 1.4 billion, up about 40% year-on-year. Read more.

Summary: The shift towards China had reportedly become more visible since the beginning of the year. With shipping costs remaining high, China became a more attractive destination thanks to its geographical proximity, lower logistics costs and faster capital recovery. As well, with the US and the EU introducing more trade barriers, Vietnamese seafood exporters have proactively shifted to China. For example, stricter requirements in the United States under the Marine Mammal Protection Act have forced exporters to obtain additional Certificates of Admissibility, which creates complicated procedures, particularly for tuna products.

33rd ASEAN Regional Forum 2026 (23 July 2026)

Why it matters: The ASEAN Regional Forum (ARF) is the region's premier security dialogue that brings together ASEAN and major powers including the US, China, Japan, India, Russia, and the EU to discuss issues that shape Southeast Asia's strategic environment. This year's meeting is particularly important as tensions over the South China Sea, Myanmar, and great-power competition continue to influence regional stability. The forum also provides early signals on the direction of ASEAN diplomacy and security cooperation, with implications for trade, investment, supply chains, and investor confidence across Southeast Asia.

Source: ASEAN Regional Forum 2026

Brainstorm AI Singapore 2026: The Age of Intelligence (22- 23 July 2026)

Why it matters: Fortune Brainstorm AI Singapore convenes global technology leaders, policymakers, investors, and business executives to discuss the future of artificial intelligence, digital infrastructure, and innovation. Hosted in Singapore, ASEAN's leading digital hub, the conference provides insights into AI investment, data centres, cloud computing, AI governance, and workforce transformation. Discussions and announcements can influence how ASEAN attracts technology investment, develops digital infrastructure, and shapes AI policy. The event also offers an early view of regional business priorities and emerging technologies that could affect ASEAN's competitiveness, productivity, and position in the global digital economy.

Source: Brainstorm AI Singapore 2026

ASEAN–China AI Technology & Industry Collaboration Forum (19 July 2026)

Why it matters: The ASEAN–China AI Technology & Industry Collaboration Forum highlights growing cooperation between ASEAN and China in artificial intelligence, digital innovation, and industrial development. The forum brings together policymakers, technology companies, investors, and researchers to explore cross-border partnerships, AI applications, talent development, and technology commercialization. For ASEAN, it offers opportunities to attract investment, strengthen digital capabilities, and accelerate AI adoption across key sectors such as manufacturing, healthcare, finance, and public services. The discussions also provide insights into China's AI strategy and identify areas where ASEAN can deepen economic cooperation while enhancing regional competitiveness in the global digital economy.

Source: ASEAN–China AI Technology & Industry Collaboration Forum