Industry News

Centus Marine has received its second hybrid Fast Crew Boat (FCB) from Strategic Marine, marking a significant step in their joint efforts to promote cleaner and more efficient offshore vessel technologies. The new vessel, named Centus Alesha, is equipped with a hybrid propulsion system designed to reduce fuel consumption and emissions, aligning with Centus Marine’s commitment to sustainability in the offshore energy sector.

The delivery of Centus Alesha follows the successful introduction of Malaysia’s first hybrid FCB in 2024. This collaboration between Strategic Marine and Centus Marine aims to set new standards in green maritime innovation. Strategic Marine’s CEO, Chan Eng Yew, expressed pride in the partnership, stating, “The delivery of Centus Alesha reflects our strong and ongoing relationship with Centus Marine. We are proud to contribute another vessel that aligns with our shared mission of leading sustainable innovation in offshore transport.”

Centus Marine’s Derick Soo highlighted the vessel’s role in their decarbonisation efforts, saying, “Centus Alesha represents another big step forward in our decarbonisation efforts. We are excited to expand our hybrid fleet and raise the bar for operational and environmental excellence in the region.”

This development underscores the companies’ commitment to providing reliable, future-ready solutions for the offshore industry. As Centus Marine continues to grow its hybrid fleet, the partnership with Strategic Marine is poised to drive further advancements in sustainable maritime operations.
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ETC, a commercial real estate advisory firm, has announced the sale of a four-storey B1 industrial building located at 26 Ubi Road 4, Singapore. The sale will be conducted via an expression of interest, closing on 10 June 2025 at 3pm. The property, completed in 2020, is priced at $14.6m (S$20m), equating to approximately $11.3 (S$619) per square foot on the land area.

The building, situated on a 32,294-square-foot site with a remaining leasehold tenure of about 25 years, boasts a gross floor area of 61,372 square feet. Designed to modern industrial specifications, it features a glass-clad passenger lift, high ceilings, and ancillary office space. The site is zoned for “Business 1” use, according to the URA Master Plan 2019, with a gross plot ratio of 2.0.

Ong Mei Fen, Senior Director of Business Space & Retail at ETC, highlighted the property’s appeal, stating, “This is a rare opportunity to acquire a modern, high-specification B1 industrial asset in a prime city-fringe location.” She noted the strong interest expected from investors and end-users due to the limited supply of quality industrial properties and sustained demand from sectors such as manufacturing, logistics, and technology.

Located in the Paya Lebar-Ubi industrial precinct, the property is within a five-minute walk of Ubi MRT station and accessible via major expressways. The area hosts a mix of light manufacturing, logistics firms, tech companies, and motor showrooms, enhancing its business appeal. The building also offers exclusive naming rights, subject to approval, providing additional brand visibility for owner-occupiers.
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ShopeePay has partnered with Zurich General Takaful to introduce Zurich Travel Takaful, a Shariah-compliant travel protection plan. This new offering, announced today, caters to the increasing demand for Islamic financial products, providing coverage starting from $0.64 (RM3) per day for domestic travel and $3.42 (RM15.99) for international trips. The plan is available for both single and annual trips, ensuring year-round protection for travellers.

The Zurich Travel Takaful plan offers comprehensive coverage of up to $64,200 (RM300,000) for medical and personal accidents. Additional benefits include compensation for travel cancellations, delays, curtailments, baggage delays, double indemnity, and loss of personal effects and travel documents. Users will also have access to Zurich’s 24-hour Travel Assistance hotline for support during their travels.

To celebrate the launch, ShopeePay is offering discounts on the takaful plans: a 5% discount for groups of two to five, a 10% discount for groups of six to ten, and a 15% discount on VIP plan upgrades. Subscriptions can be completed in under three minutes via the ShopeePay or Shopee app.

ShopeePay’s SPayLater feature allows users to split their takaful contributions into instalments, providing flexibility in managing payments. This initiative marks ShopeePay’s first foray into travel protection, expanding its portfolio of financial services available to Malaysian users.
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The global green economy has surged to a valuation of $7.9 trillion in the first quarter of 2025, according to the latest report by the London Stock Exchange Group (LSEG). This sector now represents 8.6% of global listed equities, driven by a decade-long compound annual growth rate (CAGR) of 15%, second only to the technology sector.

Despite geopolitical tensions and rapid technological changes, the transition to a low-carbon economy continues to bolster long-term growth. The green bond market remains robust, with a record $572 billion in new issuances in 2024, marking a 10% annual growth. Emerging markets have notably increased their share of outstanding green bonds from 11% in 2023 to 17% in 2024.

Asia has emerged as a leader in generating global green revenues, contributing 44% compared to the Americas’ 31%. Taiwan and China are at the forefront, with Taiwan’s green economy largely driven by TSMC’s market capitalisation and green revenue. However, China leads in green revenue generation, accounting for over one-third of Asia’s total, followed by Japan and Hong Kong.

The report highlights the growing importance of climate adaptation, with economic losses from climate impacts potentially rising to 11-14% of global GDP by 2050. As a response, 34% of large and mid-cap companies are incorporating adaptation measures into their annual disclosures.

As the green economy continues to expand, it is poised to play a crucial role in addressing global environmental challenges and supporting sustainable growth.
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Marina Bay Sands has announced the completion of its extensive hotel room renovations, a significant milestone in its multi-year, $1.75 billion transformation project. The integrated resort now boasts a full inventory of approximately 1,850 upscale rooms and suites, including 775 suites, following the recent completion of the Sands Collection. This development coincides with the resort’s 15th anniversary and the welcoming of its 500 millionth visitor.

The Sands Collection, one of two distinct hotel collections launched under the transformation, features around 1,480 rooms and suites. Designed as an urban sanctuary, it offers a range of accommodations from the elegant Sands Premier Room to the family-centric Sands Family Suite. A dedicated Premium Services team ensures a seamless experience for select guests.

The ultra-luxurious Paiza Collection, comprising mostly suites, includes the opulent Chairman Suite, equipped with a 146” television and karaoke facilities, and the Presidential Suite, featuring a golf simulator. Guests in this collection benefit from round-the-clock service provided by a 160-strong Butler Services team.

With the room renovations complete, Marina Bay Sands is set to continue its reinvestment programme. Upcoming projects include the launch of Jin Ting Wan, an authentic Cantonese restaurant, in July, and refurbishments of the LAVO Italian Restaurant & Rooftop Bar later this year. Further enhancements to the lobby and a new spa are also planned, with more details to be announced.
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Artificial intelligence (AI) is set to revolutionise payroll operations in Singapore, with 32% of multinational companies identifying it as the primary driver of transformation, according to ADP’s latest report, The Potential of Payroll 2025. The report highlights that AI adoption is crucial for enhancing efficiency and productivity in payroll systems.

The survey reveals that half of Singapore’s multinational companies are considering using AI to manage payroll with fewer staff, whilst 49% aim to replace manual processes with automated solutions. Improving workflow automation is the top priority for 34% of businesses, followed by streamlining payroll processes (31%) and consolidating multi-country payroll reporting (28%).

Jessica Zhang, Senior Vice President of APAC at ADP, emphasised the strategic importance of AI in payroll, stating, “AI is transforming payroll from a back-office function into a strategic asset. To maximise its benefits, businesses should look to integrate AI with broader goals, ensure data security, and embrace human-AI collaboration.”

Globally, the introduction of AI and automation does not imply job losses for payroll professionals. Instead, it presents opportunities for integrating new technologies, improving business processes, and enhancing data analysis capabilities. Payroll teams are expected to focus more on strategic planning, with 57% of leaders prioritising technology integration and 55% seeking business process improvements.

As companies continue to automate operational tasks, the role of payroll teams is evolving to meet higher strategic expectations, ensuring they remain valuable assets in the digital age.
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Singtel has announced a pioneering move as the first telecommunications company in Asia to offer network slicing for enterprise users on iPhone and iPad models. This innovation promises seamless connectivity and enhanced performance for critical business applications, even in congested network conditions. By leveraging Apple’s traffic categories and supported Mobile Device Management (MDM), enterprises can access a dedicated slice of Singtel’s 5G network, ensuring superior app performance.

The network slicing technology, based on User Equipment Route Selection Policy, prioritises data traffic and allocates dedicated resources. This is particularly advantageous for apps requiring consistent bandwidth and low latency, such as Microsoft Teams, Zoom, and FaceTime. Singtel’s CEO, Ng Tian Chong, stated, “Our enhanced 5G app-based network slicing enables enterprises to work smarter, adapt faster, and stay ahead in an ever-evolving digital landscape.”

Available on iPhone 14 or later models with iOS 18.2 and selected iPads with iPadOS 18.2, this service marks another milestone in Singtel’s commitment to innovation. The company has previously deployed network slicing at high-traffic events like the F1 Grand Prix and concerts, demonstrating its capability to provide seamless connectivity.

Singtel’s continuous investment in 5G technology, including the deployment of the 700MHz spectrum, has enhanced coverage and reliability across Singapore. This advancement underscores Singtel’s role in cementing Singapore’s status as a global innovation hub, offering improved network quality at no additional cost to consumers.
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The UN Special Rapporteur on the right to a clean, healthy, and sustainable environment, Astrid Puentes Riaño, is set to visit Singapore from 14 to 23 May. This visit, her first since her appointment in May 2024, aims to evaluate Singapore’s environmental challenges and its efforts in addressing them, focusing on air quality, waste management, and biodiversity, including marine management.

During her 10-day stay, Puentes Riaño will explore the impact of climate change on human rights and assess Singapore’s adaptation and mitigation strategies. Her agenda includes examining urban planning and development initiatives under Singapore’s Green Plan 2030. Meetings with government officials, academics, and civil society members are scheduled to gather diverse perspectives on these issues.

A press conference is planned for 23 May at Park Regis by Prince Singapore, where Puentes Riaño will share her preliminary findings. The visit’s outcomes will be compiled into a report for the UN Human Rights Council, to be presented in March 2026.

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Global cybersecurity firm Kaspersky has reported a significant rise in brute-force attacks targeting businesses in Southeast Asia, with over 53 million incidents detected and blocked in 2024. Singapore, saw 4,250,099 attacks.

This method, which involves systematically guessing passwords or encryption keys, remains a popular tactic among cybercriminals aiming to gain unauthorised access to corporate networks.

The report highlights a worrying trend in Malaysia and Indonesia, where the number of attacks increased by 14% and 25% respectively compared to 2023. Malaysia saw attacks rise from 2,810,648 in 2023 to 3,198,767 in 2024, whilst Indonesia experienced 14,662,615 attacks, up from 11,703,925 the previous year.

Adrian Hia, Managing Director for Asia Pacific at Kaspersky, noted the scale of the threat, stating, “On a daily basis, we are looking at more than 145,000 attempts to break enterprises and SMBs’ passwords and encryptions in SEA. That’s a lot given the current shortage of cybersecurity staff in the region.”

The use of Remote Desktop Protocol (RDP), a Microsoft tool for remote access, is a common target for these attacks. Kaspersky advises businesses to enhance their cybersecurity measures, including using strong passwords, enabling two-factor authentication, and employing reliable security solutions like Kaspersky Next EDR Optimum.

With advancements in Artificial Intelligence aiding cybercriminals, the urgency for businesses to reassess their IT security posture is paramount. As Hia emphasised, the potential repercussions of a successful attack could be severe, underscoring the need for robust cybersecurity strategies.
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BDx Data Centres, a leading operator in the Asia-Pacific region, has announced the successful acquisition of project financing for its new hyperscale data centre in Hong Kong. The financing, secured from Clifford Capital, United Overseas Bank (UOB), and Sumitomo Mitsui Banking Corporation (SMBC), marks BDx’s first venture into the Hong Kong market and highlights its growing financial strength and ability to secure major backing for infrastructure projects.

BDx continues to expand its portfolio across Asia, with data centres and edge sites in Singapore, Indonesia, Hong Kong SAR, and Taiwan region.

The funds will be utilised for the development and operational expenses of the state-of-the-art facility located in Kwai Chung, a prime digital infrastructure zone in Hong Kong. Designed in collaboration with its anchor hyperscale customer, the centre emphasises energy efficiency and is built to meet exacting technical specifications. Mayank Srivastava, CEO of BDx Data Centres, stated, “This successful financing reflects our unwavering commitment to accelerating digital transformation across Asia.”

This financing deal is BDx’s third major project, following a $155m loan in Singapore and $300m in assets in Indonesia, showcasing its capability to execute large-scale projects across regions. The company aims to deploy 1 GW of capacity by 2030, supporting the region’s rapidly growing digital economy and the increasing demands of AI-driven applications.

Murli Maiya, Group CEO of Clifford Capital, commented on the transaction’s alignment with their focus on transformative infrastructure projects. Meanwhile, UOB’s Lim Lay Wah expressed enthusiasm for partnering with BDx in their sustainability ambitions across ASEAN and Greater China. SMBC’s Luca Tonello highlighted the transaction as a testament to their commitment to supporting client growth in key global markets.

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