Industry News

A recent survey by Hays, a global recruitment agency, reveals that 47% of professionals in Singapore believe implementing a four-day workweek could significantly boost productivity. The study, conducted amongst a diverse range of industries, highlights a growing interest in flexible work arrangements as a means to improve work-life balance and efficiency.

The survey results come amidst ongoing discussions about the future of work and the potential benefits of reduced working hours. Hays’ findings suggest that a shorter workweek could lead to increased job satisfaction and better mental health for employees. The concept of a four-day workweek has gained traction globally, with several companies already experimenting with the model to positive outcomes.

Hays’ Head of Marketing for Southeast Asia, Sonel Singh, noted the importance of adapting to changing work environments. “As organisations continue to navigate the evolving landscape of work, it is crucial to consider innovative approaches that enhance productivity and employee well-being,” Singh stated.

The survey also indicates that whilst there is significant support for the four-day workweek, some professionals remain sceptical about its feasibility in certain sectors. Concerns include potential disruptions to client services and the need for industry-specific adaptations.

As the conversation around flexible work arrangements continues, the findings from Hays provide valuable insights into the preferences and expectations of Singapore’s workforce. The potential shift towards a four-day workweek could have lasting implications for how businesses operate and compete in the future.
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Singapore’s retail sector experienced a marginal growth of 0.3% month-on-month in April, according to UOB Global Economics and Markets Research. This follows a 2.7% decline in March, reflecting ongoing challenges in the retail landscape. The year-on-year growth was similarly modest at 0.3%, down from 1.3% in March.

The April figures were notably impacted by a significant drop in sales at petrol service stations, which fell by 10.6% year-on-year. This decline aligns with the downward trend in Brent crude oil prices, which averaged $66 per barrel in April, compared to $71 in March. Additionally, sectors such as wearing apparel and footwear, department stores, and furniture and household equipment also saw declines.

Conversely, the sale of watches and jewellery, as well as computers and telecommunications equipment, showed robust growth. Watches and jewellery sales increased by 12.9% year-on-year, whilst computers and telecommunications equipment surged by 14.8%.

The overall sluggishness in retail sales year-to-date, which stands at 0.9% compared to 1.4% in 2024 and 2.3% in 2023, is attributed to the slow recovery in tourist arrivals. As of April, tourist numbers remain at 91% of pre-pandemic levels, with particularly slow recovery from Southeast Asian countries like Thailand and the Philippines.

Looking ahead, retail sales are expected to remain tepid throughout 2025. However, initiatives such as the Budget 2025 measures, including CDC and SG60 vouchers, alongside tourism promotion efforts, may provide some support to the sector.
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The Maritime and Port Authority of Singapore (MPA), Nippon Yusen Kabushiki Kaisha (NYK), and MTI Co., Ltd. (an NYK Group company) have taken a significant step in advancing maritime technology by conducting a joint workshop on 4 June 2025. The event, held in Singapore, focused on port-to-port Maritime Autonomous Surface Ship (MASS) trials, a key initiative under the MPA-NYK Memorandum of Understanding signed in 2024. This collaboration aims to accelerate efforts in maritime decarbonisation, digitalisation, and manpower development.

The workshop brought together over 60 participants, including representatives from MPA, NYK, MTI, and various industry partners and research institutes such as the Singapore Maritime Institute, ClassNK, Japan Radio Co., and the Technology Centre for Offshore and Marine Singapore. The trials will test the interoperability of autonomous vessels with port-based systems, including MPA’s Vessel Traffic Information System, and will help develop best practices for navigation safety, route planning, fuel consumption, AI-based decision-making, communications, and cybersecurity.

MPA’s Chief Marine Officer, Capt M. Segar, highlighted the importance of the collaboration, stating, “This collaboration provides an important platform for us to test and validate new concepts of operations in Singapore’s port waters.” Hideki Suzuki, President of MTI, echoed this sentiment, noting that the workshop marks a crucial step in developing autonomous navigation systems.

These trials are expected to advance smart, safe, and sustainable autonomous shipping, setting new standards for the maritime industry. The outcomes could significantly impact the future of shipping, enhancing efficiency and safety in one of the world’s busiest ports.
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Singapore has been ranked 48th in the Global Business Complexity Index (GBCI) by TMF Group, reflecting its position as one of the least complex regions for business operations in Asia. The report, released on 5 June 2025, underscores Singapore’s strategic neutrality and robust infrastructure, which bolster its role as a trade corridor hub amidst rising geopolitical uncertainties.

The GBCI, now in its 12th edition, evaluates 292 indicators across 79 jurisdictions, covering 94% of global GDP. Singapore’s slight shift from 47th in 2024 to 48th this year indicates new compliance demands as the nation continues to future-proof its regulatory frameworks. Patrice Lo, TMF Group Singapore’s Country Head, noted, “Singapore offers businesses a rare combination of low operational complexity, legal certainty, and strategic access to emerging trade corridors.”

Singapore’s investment in digitalisation and infrastructure, including ports and airports, reinforces its status as a regional hub. With 43% of APAC jurisdictions citing infrastructure as a trade enabler, Singapore plays a vital role in global supply chains. The nation also remains attractive to foreign talent, ranking 45th in the “human resources and payroll” category, thanks to streamlined immigration policies and competitive wages.

Despite increased regulatory complexity, Singapore aligns with international standards, enhancing transparency and trust. The government’s Green Plan 2030 and initiatives like the Digital Connectivity Blueprint aim to strengthen Singapore’s position as a trusted hub for data flows and AI-enabled trade, ensuring continued growth and resilience amid global volatility.
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CPFIS funds, under the Central Provident Fund Investment Scheme, recorded a 6.17% gain over the past year, according to the latest report by FundSingapore and Morningstar. However, the first quarter of 2025 saw a slight decline of 0.18% in these funds, reflecting mixed performance across asset classes.

The report highlights that whilst equities fell by 0.62% in Q1 2025, fixed income funds showed improvement with a 1.18% increase. Money market and allocation funds remained stable, delivering returns of 0.68% and 0.13% respectively. Over the past year, equities saw a significant drop in returns from 14.19% to 7%, whilst allocation funds halved to 5.80%. Despite these fluctuations, money market funds maintained stability with a 3.28% return, and fixed income improved to 3.49%.

Senior Analyst Arvind Subramanian noted, “Despite lower interest rates, it’s notable that investors favoured money market funds in the first quarter of 2025—likely seeking shelter from the uncertain threat of potential trade tariffs at the time.”

In terms of fund flows, the first quarter of 2025 saw net inflows of $2.2b, a 27.8% increase from the previous quarter. Money market funds led with net inflows of $917.58m, followed by allocation funds with $2.2b. Equity strategies attracted $397.11m, whilst fixed income funds saw a decrease in net inflows to $168.87m from the previous quarter’s $758.83m.

The findings underscore the dynamic nature of investment strategies amidst global economic uncertainties, with potential shifts in investor focus as market conditions evolve.
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LMS Compliance, a leading provider of laboratory testing and certification services in Malaysia and Singapore, has successfully obtained accreditation from the Singapore Accreditation Council (SAC) for greenhouse gas (GHG) validation and verification under ISO 14064-1, Scopes 1–3. This achievement bolsters its status as a regional accredited Validation and Verification Body (VVB), recognised under multilateral agreements with the Asia Pacific Accreditation Cooperation and the International Accreditation Forum, as well as DSM accreditation.

The accreditations are a testament to LMS Compliance’s dedication to delivering high-quality, internationally recognised environmental, social, and governance (ESG) assurance services. Executive Director and CEO, Louis Ooi, stated, “The accreditations from both SAC and DSM reflect our deep commitment to delivering high-quality, internationally recognised ESG assurance services. These milestones not only expand our regional capabilities but also reinforce our ability to support clients in meeting increasingly stringent sustainability and reporting requirements.”

LMS Compliance has been operating for over 15 years, offering a range of services including testing and assessment, certification, and assurance. The recent accreditations are expected to enhance the company’s ability to support clients in navigating complex sustainability challenges and reporting obligations.

With a strong net cash position of $2.02m as of the end of the first half of 2024, LMS Compliance is well-positioned to pursue strategic initiatives and continue its momentum in the sustainability reporting segment. The company has recently onboarded four new clients, which could potentially boost its financial results for the fiscal year 2024.
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The National Youth Council, KPMG in Singapore, and the Institute of Public Relations of Singapore have launched Gen2050, a youth action programme aimed at empowering young Singaporeans to tackle social sustainability challenges. This initiative, announced on 5 June 2025, seeks to equip over 1,000 youths with essential skills in social entrepreneurship, problem-solving, and stakeholder management, supported by industry mentors.

Gen2050 is structured to provide opportunities for youths from diverse backgrounds to develop and implement grassroots initiatives. The programme offers two tracks: a module-based programme with mentorship and seed funding, and a series of engagements with policymakers and industry leaders. These tracks aim to foster meaningful change in key societal areas, such as the impact of artificial intelligence on jobs and equitable access to digital skills.

David Chua, CEO of the National Youth Council, emphasised the collaborative nature of the programme, stating, “This tripartite collaboration demonstrates how the whole of society, and not just government, can collaborate as a collective to give our young people opportunities to learn, grow and drive impact at the same time.”

Lee Sze Yeng, Managing Partner at KPMG in Singapore, highlighted the programme’s potential to channel youth energy into impactful movements, whilst Ross Gan, President of IPRS, noted the importance of strategic communication in realising the programme’s goals.

Gen2050 exemplifies the power of public-private collaboration in amplifying youth-driven impact, leveraging the expertise of NYC, KPMG, and IPRS to support the next generation of leaders in Singapore.
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Frasers Property Limited has launched its inaugural Climate and Nature Transition Plan (CNTP), marking a significant step in its commitment to environmental, social, and governance (ESG) goals. The plan outlines the company’s approach to managing climate and nature-related risks and opportunities, aiming to bolster resilience across its global markets.

The CNTP introduces a Climate Value at Risk platform, developed in-house, which quantifies the company’s exposure to climate risks. This tool will guide adaptation planning and investment decisions. The plan also details Frasers Property’s decarbonisation pathways, focusing on renewable energy, energy-efficient initiatives, and reducing embodied carbon. Notably, the company has already reduced its Scopes 1 and 2 emissions by over 20% from its FY19 baseline.

Wanshi Zheng, Group Chief Strategy & Sustainability Officer, emphasised the importance of integrating nature and climate considerations, stating, “We hope to bring our stakeholders, including our partners and value chain, on board this journey in support of sustainable value creation together.”

The CNTP also includes a preliminary scan to identify nature-related dependencies and impacts, which will inform the development of a Group Nature Framework. This framework will guide governance, metrics, and implementation as Frasers Property prepares for future disclosures aligned with the Taskforce on Nature-related Financial Disclosures.

Frasers Property’s initiative underscores its commitment to achieving a net-zero carbon and nature-affirming future, setting a precedent for industry-wide collaboration in sustainable development.
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Arctic Wolf, a global leader in security operations, has officially launched its services in Singapore, marking a significant step in its Asia-Pacific expansion. The company, trusted by over 10,000 organisations worldwide, offers a comprehensive suite of cybersecurity solutions through its Aurora Platform and Concierge Delivery Model. This move allows Singaporean businesses to access advanced capabilities such as Aurora Endpoint Security, Managed Detection and Response, and Incident Response, addressing the increasing challenges posed by a rapidly evolving threat landscape and regulatory demands.

The expansion is timely, as recent high-profile security breaches in Singapore have heightened awareness of cybersecurity risks among executives and employees. Arctic Wolf’s partnership with Ingram Micro, its inaugural distributor in Singapore, aims to deliver robust security solutions to local businesses. “We are proud to be their first distributor in the Singapore region,” said Eunice Lau, executive managing director of Ingram Micro Singapore.

Coinciding with the launch, Arctic Wolf released its State of Cybersecurity 2025 Trends Report, highlighting that artificial intelligence now surpasses ransomware as the top concern for IT and security leaders in Singapore. The report also reveals that 70% of businesses disclosed a breach in the past year, indicating strong regulatory compliance.

David Hayes, Director APAC at Arctic Wolf, emphasised the need for comprehensive security partnerships: “Businesses need more than just point solutions; they need a partner with the breadth and expertise to drive meaningful outcomes.” As Arctic Wolf continues to expand, it aims to help organisations in Singapore reduce risk, enhance resilience, and accelerate their cybersecurity maturity.
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MoneyHero Limited, a prominent personal finance aggregation platform in Greater Southeast Asia, has announced a strategic partnership with Rizal Commercial Banking Corporation (RCBC) to integrate RCBC’s comprehensive range of credit card products into its digital platform. This collaboration aims to provide Filipinos with an easier way to discover, compare, and apply for credit cards that meet their financial needs.

The partnership marks a significant expansion of MoneyHero’s credit card offerings in the Philippines, reinforcing its position as a leading digital acquisition partner for banks in the region. By leveraging MoneyHero’s digital conversion expertise and RCBC’s focus on data-driven innovation, the collaboration seeks to enhance customer experience and broaden access to financial solutions.

Rohith Murthy, CEO of MoneyHero, expressed enthusiasm about the partnership, stating, “We are excited to welcome RCBC as a partner on our platform. By combining MoneyHero’s aggregation technology with RCBC’s rich credit card portfolio, we are empowering Filipino consumers to make smarter financial decisions.”

RCBC Credit Cards President and CEO, Arniel Vincent B Ong, highlighted the growth potential, noting, “Our credit card business has shown exceptional momentum with credit card receivables growing 48% and cards in force increasing 21% in 2024 alone. This rapid growth will make us a powerful partner for MoneyHero’s expanding presence in the country.”

This strategic alliance is expected to accelerate MoneyHero’s penetration into regional markets, deepen user engagement, and support its growth model. The integration with MoneyHero’s platform will simplify the process for Filipinos to compare and apply for credit cards, furthering the commitment to innovation and financial inclusion.
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