Industry News

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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Thailand-listed Medeze Group has initiated a voluntary conditional cash partial offer to acquire a 10% stake in Singapore Exchange (SGX)-listed Cordlife Group Limited. The offer, announced on 9 May, proposes a purchase price of S$0.25 per share, representing a 61.3% premium over Cordlife’s last traded price and its 12-month volume-weighted average price.

The offer, facilitated by PrimePartners Corporate Finance Pte. Ltd. on behalf of Medeze Treasury Pte. Ltd., aims to acquire 25,630,774 shares, equating to approximately 10.68% of Cordlife’s total shares, excluding treasury shares. Medeze views this acquisition as a strategic move to foster long-term collaboration with Cordlife, focusing on market expansion, product development, and operational synergies.

Medeze’s offer provides Cordlife shareholders with an opportunity to exit at a premium, a significant consideration given the current market conditions. The Securities Industry Council of Singapore has approved the offer, subject to conditions ensuring fair trading practices and shareholder rights.

The offer is contingent upon receiving valid acceptances for at least 10% of Cordlife’s shares. If successful, Medeze’s direct shareholding in Cordlife will rise to approximately 10.68%. This move underscores Medeze’s commitment to expanding its presence in the Southeast Asian healthcare market, leveraging Cordlife’s established position in the industry.
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Singapore-headquartered Agoda, the digital travel platform, has renewed its partnership with Indonesia’s Ministry of Tourism to enhance travel growth in the region. This collaboration, formalised through a new memorandum of understanding (MOU), aims to increase both international and domestic visitors by leveraging Agoda’s advanced technology in line with Indonesia’s Tourism 4.0 vision. This initiative encourages the integration of digital technologies and innovative strategies within the tourism sector.

The partnership outlines several joint initiatives over the next three years, including targeted marketing campaigns, the promotion of sustainable tourism practices, and the development of digital skills for young tourism professionals in Indonesia. As part of this effort, Agoda hosted its first Agoda Academy workshop at the Bandung Tourism Polytechnic, offering students insights into digital tourism skills and operational case studies.

Gede Gunawan, Senior Country Director at Agoda, expressed enthusiasm for the renewed collaboration, stating, “By renewing our collaboration, we’re also excited to support the Ministry’s vision on Tourism 4.0 with Agoda’s expertise in digital solutions.” Chief Secretary Bayu Aji of the Ministry of Tourism echoed this sentiment, highlighting the partnership’s role in strengthening Indonesia’s position as a sustainable tourism destination and preparing the workforce for future challenges.

The previous MOU saw Agoda launch several campaigns in collaboration with the Ministry’s Wonderful Indonesia initiative, promoting sustainable tourism practices and leveraging influencers to amplify tourist destinations. With access to Agoda’s extensive network of accommodations, flights, and activities, the Ministry of Tourism is well-positioned to ensure robust and responsible growth in Indonesia’s tourism sector.
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IOI Properties Group, a leading Malaysian real estate company, hosted its inaugural international hospitality networking event in Singapore on 9 May 2025. Held at the IOI Properties Singapore Sales Gallery, the event marked a significant step in the group’s cross-border expansion, showcasing its award-winning hotel portfolio and introducing new campaigns to the Singapore market.

The event highlighted IOI Properties’ strategic growth in the hospitality sector across Malaysia, Singapore, and China. A key announcement was the brand partnership with Sandra Lim, Miss Universe Malaysia 2024, aimed at boosting the “Visit IOI Resort City” campaign. Tan Lee Fong, Multi-Property Director of Sales & Marketing for Marriott Bonvoy Portfolio Hotels of IOI Resort City & Puchong, noted the importance of Singapore as a tourism market, citing a 79% year-on-year increase in Singaporean visitors to IOI Resort City.

The evening also featured the launch of the “Think Again 2.0” campaign, encouraging Singaporeans to explore IOI Resort City, now accessible via a direct coach service from Singapore. Culinary delights were provided by Chef Justin Quek, a renowned Franco-Asian chef.

IOI Properties’ hospitality portfolio includes notable hotels such as Le Méridien Putrajaya and JW Marriott Hotel Singapore South Beach. The group continues to expand its presence with luxury hotel brands, reinforcing its commitment to creating lifestyle destinations across the region.

Sandra Lim expressed her connection to the brand, stating, “IOI feels like home. To now represent a brand that I grew up with — one that reflects Malaysia’s heart and its global ambitions — is truly special.” The event successfully brought together key figures from Singapore’s travel, tourism, and business sectors, setting the stage for future collaborations and growth.
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Singapore-headquartered FAIT has launched two new AI-driven modules, FAIT Build and FAIT Run, to enhance its FAIT Core platform, aiming to streamline data integration for financial institutions. These modules enable end-to-end data integration, allowing institutions to accelerate integration timelines and reduce operational bottlenecks. The launch comes as financial institutions in the Asia-Pacific region prepare for the Hong Kong Monetary Authority’s (HKMA) trade reporting rewrite, effective 29 September 2025.

FAIT Build and Run extend the platform’s capabilities from data mapping to full deployment and monitoring, eliminating the need for engineering or DevOps handoffs. “Integration isn’t just about connectivity—it’s about comprehension,” said Aaron Hallmark, Co-Founder and CEO of FAIT. The platform supports AI-driven mapping, automated transformation packaging, and real-time execution monitoring, crucial for regulated markets.

The modules are already in use for automating complex regulatory workflows, including reporting to trade repositories under CPMI-IOSCO guidelines. These deployments offer auditable data lineage and runtime feedback, significantly reducing turnaround time and operational risk. The HKMA’s upcoming changes demand high data quality and integration speed, which FAIT’s platform aims to deliver.

FAIT plans to expand its platform access with a self-service offering, facilitating onboarding for smaller teams. The company, headquartered in Singapore, continues to support asset managers and financial institutions across the APAC region with its enterprise SaaS platform.
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Singapore has taken a significant step in sports innovation with the opening of AiRENA, the country’s first A.I.-powered sports hub, in collaboration with Under Armour. This partnership introduces the UA Next Combine, a tech-driven fitness performance testing framework aimed at enhancing youth athletic development. The initiative positions Singapore as a leader in tech-enabled sports training in Southeast Asia.

AiRENA is more than just a facility; it is a comprehensive ecosystem integrating advanced technology, elite coaching, and strategic partnerships. At its core is the Project 95 (P95) Basketball Academy, which offers a unique development model combining technical coaching with real-time performance analytics. This makes P95 the first in Singapore to provide such a holistic approach to basketball training.

The UA Next Combine, previously launched in London and China, is now making its Southeast Asian debut through this collaboration. It uses six key metrics—agility, speed, reaction time, strength, power, and endurance—to provide athletes with personalised scorecards and training plans. Top performers may be selected for elite training camps across Asia.

Alan Lim, Director of AiRENA, stated, “AiRENA is more than a sports facility—we are a future-ready ecosystem designed to empower the next generation of athletes.” Alex Chung from Under Armour added, “This partnership places elite-level training tools into the hands of aspiring youth athletes.”

Over the next three years, the programme will expand its reach with testing sessions and training camps, aiming to nurture talent across all levels of sport and establish a data-driven performance standard in Singapore’s sports ecosystem.
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