Industry News

Healthway Medical Group, a prominent healthcare provider in Singapore, has announced its plan to acquire Bridgepoint Health, a move aimed at bolstering its primary care network. This strategic acquisition will integrate 16 clinics across the island into Healthway’s existing framework, significantly enhancing its capacity to deliver accessible and coordinated patient-centred care.

The expansion will bring together a team of 75 healthcare professionals, fostering improved clinical collaboration and operational excellence. With this acquisition, Healthway Medical Group anticipates serving over 1.3 million patient visits annually across its clinics and medical centres.

Chief Executive Officer of Healthway Medical Group, Abram Suhardiman, expressed enthusiasm about the acquisition, stating, “We are pleased to welcome Bridgepoint Health into the Group. The deep trust and strong relationships they have established within local communities are incredibly valuable as Singapore’s healthcare landscape continues to move towards more preventive, multi-disciplinary and community-based care.”

Michael Coleman, CEO of Bridgepoint Health, echoed this sentiment, highlighting the alignment of the two organisations’ missions. “Bridgepoint Health’s mission and model of care is rooted in relationships, prevention, and long-term trust with the communities we serve. This transition not only aligns, it positions us for the future — to grow sustainably, to scale responsibly, and to deepen the impact we can make in primary care,” he said.

The acquisition remains subject to customary closing conditions, marking a significant step in Healthway Medical Group’s ongoing efforts to enhance its integrated healthcare ecosystem.

Huttons Asia has revealed insights into the Town Hall Link Government Land Sales (GLS) site, which is expected to draw significant interest from developers. The site, offering approximately 1,200 residential units and 83,200 square metres of commercial space, is anticipated to attract bids exceeding $1b.

The Town Hall Link site, classified as a “white site,” includes a substantial office component, which may lead to higher holding costs and risks for developers. Mark Yip, CEO of Huttons Asia, noted that developers might form consortiums to bid for the site, with potential bids reaching as high as $2b. The office component is expected to attract a few bids due to its scale and potential.

In comparison, other upcoming mega GLS sites in the Outside Central Region (OCR), such as Bayshore Drive and New Upper Changi Road, also offer over 1,000 units. Bayshore Drive, an integrated transport hub, and New Upper Changi Road, a purely residential site, may appeal to developers seeking different project profiles.

The supply of office space is projected to peak in 2028, with a subsequent reduction over the following three years. Town Hall Link’s office space could appeal to occupiers seeking Grade A premium offices, potentially creating thousands of jobs and boosting residential demand in the area. This development is seen as a positive step for the growth of the Jurong Lake District.

Seatrium Limited has successfully exported electricity to Singapore’s national grid from its Floating Living Lab (FLL), a world-first remote-controlled floating Distributed Energy Resource (DER) platform. This significant achievement was witnessed by Dr Tan See Leng, Minister for Manpower and Minister-in-charge of Energy and Science & Technology, marking a pivotal moment in the development of scalable offshore energy infrastructure.

The FLL, classed by the American Bureau of Shipping and supported by a Remote Operations Centre, integrates distributed energy resources into floating power assets. It combines a stacked battery energy storage system and gas bunkering infrastructure, allowing it to meet Seatrium’s operational energy needs whilst exporting surplus electricity to the grid. This surplus can power approximately 1,500 four-room HDB households monthly, highlighting its potential as a scalable energy solution.

Lee Wey Lii, Senior Vice President of Seatrium Digital, stated, “The FLL brings together Seatrium’s deep capabilities across digital, engineering, and energy systems to reimagine offshore energy for a more connected, resilient, and lower-carbon future.”

The Energy Market Authority’s Violet Chen emphasised the importance of such innovations, noting that storage solutions like the FLL are crucial for maintaining grid stability as Singapore incorporates more renewable energy.

Seatrium’s achievement underscores its leadership in offshore energy and its commitment to advancing digitally-enabled energy solutions. Looking forward, the company plans to expand its capabilities for nearshore electrification solutions, supporting the transition to a more sustainable energy landscape.

Elite UK REIT Management Pte. Ltd. has announced the divestment of four properties in Wales for £6m. The properties, managed by Elite Gemstones Properties Limited and Elite Amphora Limited, are located in Swansea, Neath, and Port Talbot, and are currently occupied by the Department for Work and Pensions. The properties were valued at £5.3m prior to the sale.

The transaction, involving an unrelated third-party purchaser, is part of Elite UK REIT’s strategy to recycle net proceeds into high-quality or high-growth opportunities. Despite the sale, the divestment is not anticipated to significantly impact the net asset value of Elite UK REIT for the financial year ending 31 December 2026.

Joshua Liaw, CEO of Elite UK REIT, stated that the divestment aligns with the company’s ongoing efforts to optimise its portfolio and invest in promising opportunities. The decision reflects a strategic move to enhance the trust’s asset allocation and maximise returns for its stakeholders.

This divestment marks a significant step in Elite UK REIT’s portfolio management, as it seeks to capitalise on market opportunities and strengthen its financial position. The company remains committed to exploring further investment prospects that align with its growth objectives.

The Monetary Authority of Singapore (MAS), in collaboration with leading financial institutions and FinTech companies, has released a white paper proposing a framework for safeguarding AI agents in the financial sector. The paper, titled “Safeguards for Agentic Finance at Runtime” (SAFR), was published on 3 July 2026 and is part of MAS’ BuildFin.ai initiative, which promotes responsible AI development in finance.

As AI agents increasingly perform tasks autonomously, the need for real-time safeguards is crucial to ensure their actions remain within set mandates and risk boundaries. The SAFR framework introduces governance checkpoints to verify and record AI actions before execution, ensuring compliance with predefined policies.

The framework builds on MAS’ Project Mindforge’s AI Risk Management toolkit, focusing on operationalising safeguards at the point of action. It outlines how policy-bound execution, real-time validation, auditability, and interoperability can be integrated into system operations, allowing financial institutions to deploy AI agents with greater trust.

Industry members have already applied the SAFR framework in various use cases, such as agent-assisted payments, wealth management, and client engagement. These applications demonstrate improved efficiency, reduced operational friction, and enhanced compliance and client interaction.

MAS invites interested industry partners to join the BuildFin.ai work group to further develop SAFR. The Future of Finance Institute will support the framework’s adoption through industry pilots and sandbox experimentation, facilitating the testing and deployment of SAFR-aligned solutions.

The Housing Development Board (HDB) resale market in June 2026 witnessed a record-breaking 188 flats sold for at least S$1m, according to the latest report by 99.co and SRX. Despite stable overall prices, the market experienced a slight 0.1% decrease in transaction volume from May 2026, with 2,137 flats changing hands.

The report highlights a divergence between stable prices and softer transaction volumes, suggesting a more balanced market phase. Chief Data & Analytics Officer at 99.co, Luqman Hakim, noted that whilst sellers are maintaining their asking prices, buyers are becoming more selective. This shift is attributed to some prospective buyers waiting for the June 2026 Build-To-Order (BTO) launch, weighing the benefits of shorter waiting times against potentially more affordable new flats.

Million-dollar flats now account for 8.8% of all resale transactions, with Bukit Merah and Toa Payoh each recording 28 such sales, followed by Queenstown with 23. The highest transacted price was S$1.65m for a 5-room flat at Skyterrace @ Dawson.

Looking ahead, the market is expected to see an increase in supply as over 13,000 HDB flats reach their five-year Minimum Occupation Period in 2026, up 93% from the previous year. This influx is anticipated to provide buyers with more options and negotiating leverage, potentially keeping the market balanced.

Acadian Asset Management, a leader in systematic and quantitative investing, has announced the expansion of its Asia-based team with three strategic appointments. This move underscores the firm’s commitment to the region, which has seen a significant increase in demand for systematic investment strategies. The company has appointed Sheauyien Wang as Director of Southeast Asia Sales, alongside Portfolio Manager Minhao Leong and trader Danny Ly, to bolster its Singapore-based operations.

The expansion comes as investors increasingly turn to Acadian’s systematic capabilities for stronger diversification and improved risk management. Kelly Young, CEO of Acadian, highlighted the attractiveness of a data-driven approach amid market volatility and benchmark concentration. “We are seeing investors adopt our systematic capabilities in increasingly innovative ways,” Young stated.

Wang, who previously held senior roles at Lombard Odier Investment Managers and State Street Global Advisors, will lead institutional business development across Southeast Asia. “I am delighted to join Acadian and work alongside such a talented and collaborative team,” Wang said, expressing enthusiasm for deepening relationships with investors in the region.

Leong and Ly bring extensive experience in systematic investing and equity trading, respectively. Their appointments are expected to enhance Acadian’s investment platform in Asia. Alex Voitenok, Deputy Chief Investment Officer, noted, “Minhao and Danny further enhance the depth of our investment platform in Asia.”

Acadian’s Singapore affiliate, established in 1999, plays a crucial role in the firm’s global operations, supporting portfolio management and client servicing. With $195b in assets under management as of March 2026, Acadian continues to serve institutional investors across Asia, reflecting its enduring commitment to the region.

Frasers Property Limited has announced the appointment of Tan Wee Hsien as the new Chief Executive Officer (CEO) of Frasers Property Singapore, effective 1 October 2026. Tan will take over from Soon Su Lin, who will transition to an advisory role within the company. This leadership change is part of a planned succession strategy to ensure continuity within the organisation.

Tan brings with him three decades of experience in the real estate sector across the Asia Pacific region. He is currently the CEO for Vietnam & International at CapitaLand Development. His previous roles include CEO of New Business and Strategic Planning at CapitaLand and CEO of MCL Land. Tan’s extensive background in real estate leadership is expected to bolster Frasers Property’s strategic direction and growth in Singapore.

Soon Su Lin, who has been with Frasers Property for over nine years, has significantly contributed to the company’s growth. Under her leadership, the Singapore business expanded its capital partnerships and joint ventures, leading to several successful projects. She will continue to serve as a director on the boards of One Bangkok Co., Ltd. and Frasers Centrepoint Asset Management Ltd.

Group Chief Executive Officer Panote Sirivadhanabhakdi expressed gratitude for Soon’s contributions, stating, “Su Lin has made an invaluable contribution to Frasers Property.” He also welcomed Tan, highlighting his deep regional experience and leadership skills.

Tan expressed his commitment to building on the company’s momentum, stating, “I am honoured to lead Frasers Property Singapore at this pivotal time for the business.” He aims to drive meaningful growth and shape the future of Singapore’s real estate landscape.

JTC has announced the launch of a new Purpose-Built Dormitory (PBD) site at Gali Batu, in collaboration with the Ministry of Manpower and the Ministry of National Development. The site, spanning 4.07 hectares, is set to provide accommodation for up to 10,000 individuals and includes 3,000 square metres of commercial space.

The Gali Batu site is available for tender, with a closing date set for 22 September 2026 at 11:00 am. The dormitory is zoned under C&CI (Commercial and Community Institution) and comes with a 30-year tenure. This development is part of Singapore’s ongoing efforts to enhance living conditions for workers by providing purpose-built accommodations.

Interested parties can purchase the Tender Packet for S$185.30, inclusive of GST, through the official government portal. This initiative underscores the government’s commitment to improving infrastructure for foreign workers, ensuring they have access to quality living spaces.

The strategic location and comprehensive facilities of the Gali Batu site are expected to attract significant interest from developers and investors. The project not only aims to address housing needs but also to integrate commercial facilities, enhancing the overall living experience for residents.

As Singapore continues to grow, such developments are crucial in supporting the workforce and maintaining the city-state’s reputation as a leading global hub. The successful tender of this site will mark another step forward in the nation’s urban planning and development strategy.

Enterprise Singapore and the Japan External Trade Organisation (JETRO) have renewed their Memorandum of Cooperation (MoC) for another three years, marking a significant step in deepening economic ties between Singapore and Japan. The signing took place at the JETRO Singapore 70th Anniversary Business Forum, with key figures such as Lee Chuan Teck, Chairman of Enterprise Singapore, and Ishiguro Norihiko, Chairman and CEO of JETRO, in attendance.

The renewed MoC introduces three key expansions: a sharper focus on digital and tech, and green transition and energy sectors; the addition of life sciences and healthcare as a priority sector; and broader support for high-growth SMEs and large corporates with strong technology and innovation capabilities. This expansion aims to foster collaboration in areas like AI, semiconductors, clean energy, digital health, and biotech.

Lee Chuan Teck highlighted the enduring economic partnership between the two nations, stating, “The renewal of our MoC today underscores both the strength of our ties and our shared ambition to foster stronger collaborations.” Susumu Kataoka, President of JETRO, echoed this sentiment, emphasising the long-standing partnership and shared ambition for future growth.

Japan remains a crucial economic partner for Singapore, ranking among the top 10 in trade and investment. In 2025, bilateral merchandise trade exceeded S$56b, and Japan was Singapore’s third-largest source of foreign direct investment. The renewed partnership is expected to further enhance economic cooperation and drive long-term competitiveness.