Industry News

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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Global insurtech company bolttech has successfully closed its Series C funding round, raising $147m with the inclusion of strategic investors Sumitomo Corporation and Iberis Capital. This latest investment values the company at $2.1b. Sumitomo Corporation, one of Japan’s largest trading houses, and Iberis Capital, a prominent private equity and venture capital manager from Portugal, have joined existing investors such as Dragon Fund and Baillie Gifford in this round.

The investment will bolster bolttech’s platform capabilities and accelerate its global growth strategy, aiming to make insurance more personalised, accessible, and affordable. Sumitomo Corporation has also entered a joint venture with bolttech to deliver embedded insurance programmes and end-to-end services in Asia. Shinichi Kato, Group CEO of Media & Digital Group at Sumitomo Corporation, expressed enthusiasm about the partnership, stating, “We are thrilled to join forces with bolttech both as a strategic investor and through our joint venture.”

Luís Quaresma, Partner at Iberis Capital, praised bolttech’s rapid emergence as a leading embedded insurtech player, noting its impressive tech capabilities and strategic vision. Rob Schimek, Group CEO of bolttech, welcomed the new investors, highlighting the endorsement of bolttech’s business proposition and commitment to enhancing the insurance experience globally.

The Series C funding marks a significant milestone for bolttech as it continues to innovate and expand its offerings, connecting customers with more ways to protect what they value.
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UOB Kay Hian (UOBKH) has released its latest regional investment strategies for June 2025, focusing on Greater China, Indonesia, Malaysia, and Singapore. The report highlights manageable pressure in China’s property market and improved tourism and retail sales momentum in Hong Kong. In Indonesia, UOBKH’s Alpha Picks showed strong performances in May, except for GOTO and BUKA. Meanwhile, Malaysia’s CIMB Group reported first-quarter earnings in line with expectations, supported by lower provisions, whilst Mah Sing Group’s results were within expectations despite slower progress in its data centre ventures. In Singapore, UOBKH’s Alpha Picks outperformed the Straits Times Index (STI) by 5.4 percentage points in May.

In Greater China, UOBKH notes that the property market remains under manageable pressure, with Hong Kong experiencing a boost in tourism and retail sales. This positive momentum is expected to continue, providing a favourable environment for investors.

Indonesia’s Alpha Picks portfolio performed well in May, with most stocks showing positive results. However, GOTO and BUKA were exceptions, underperforming during the period. The report suggests that investors should remain cautious but optimistic about the region’s potential.

In Malaysia, CIMB Group’s first-quarter earnings met expectations, driven by reduced provisions. The bank maintains a “Hold” rating due to regional headwinds, with a target price of $1.63 (RM7.70). Mah Sing Group’s property segment is expected to remain resilient, despite slower-than-anticipated progress in its data centre ventures.

Singapore’s Alpha Picks portfolio outperformed the STI, with a notable 5.4 percentage point lead. UOBKH recommends adding stocks such as CD, CSSC, FRKN, FEH, and IFAST, whilst removing SCI, MPM, OTEK, and SIE from the portfolio.

Overall, UOBKH’s strategies reflect a cautious yet optimistic outlook across the regions, with specific stock recommendations aimed at capitalising on market trends and opportunities.
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Singapore-based digital wealth platform Syfe has successfully closed an $80m Series C funding round, marking a significant milestone in its regional expansion efforts. The funding, which includes a $53m all-equity C2 round, was led by two UK family offices and supported by returning investors Unbound and Valar. This comes at a time when capital distribution is highly selective, highlighting strong international confidence in Syfe’s innovative approach to wealth management.

The recent acquisition of Selfwealth, a prominent Australian online investment platform, has further cemented Syfe’s status as one of the largest digital wealth platforms in Asia-Pacific, managing over $10b in assets. The capital injection will enable Syfe to enhance its offerings in key markets such as Singapore, Hong Kong, and Australia, focusing on the rapidly growing mass affluent segment.

Dhruv Arora, Syfe’s CEO and founder, stated, “This fund raise comes at an exciting time as we grow our presence across the region and expand our offerings. We’re in a great position to serve them with personalised, accessible, and high-quality wealth management at scale.”

Syfe plans to invest in automation and AI-assisted tools to improve efficiency and customer experience. The company is also making strategic hires, including Sanjeev Malik, former Managing Director at BlackRock, and Dane Ricketts, VP of Marketing, to bolster its capabilities.

With its core business nearly doubling in the past year, Syfe aims to leverage this funding to scale its reach and maintain its leadership position across the region, empowering more individuals to manage their financial futures effectively.
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The recent decision by US President Donald Trump to double tariffs on steel and aluminium imports from 25% to 50% is expected to have minimal direct impact on Singapore’s economy, according to a report by UOB Global Economics and Markets Research. The proclamation, effective from 4 June, excludes imports from the UK due to a separate trade agreement.

Singapore’s limited exposure to aluminium and steel exports means the direct effects of these tariffs are negligible. However, the report highlights potential indirect consequences through Singapore’s key export partners, which could experience reduced manufacturing activity. Countries such as South Korea, India, Taiwan, China, Japan, and Vietnam might see a downturn in manufacturing due to weaker external demand, which could, in turn, affect Singapore.

The report also warns of broader trade tensions, noting that the increased tariffs could exacerbate existing trade disputes. China has criticised the US for violating their trade truce, whilst the European Union has indicated it might accelerate retaliatory measures if the US continues with its tariff threats.

Jester Koh, an associate economist at UOB, emphasised the importance of monitoring these developments, as they could influence ongoing trade negotiations between the US and its partners. The situation underscores the interconnected nature of global trade and the potential ripple effects of policy changes in major economies.

In summary, whilst Singapore’s direct exposure to the increased tariffs is limited, the broader implications for regional trade dynamics remain a concern. The situation warrants close observation as it unfolds, particularly regarding its impact on Singapore’s export partners.
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The China-Singapore Chongqing Demonstration Initiative on Strategic Connectivity (CCI) marks its 10th anniversary, celebrating a decade of successful collaboration between Singapore and Chongqing. This initiative, launched to enhance connectivity and cooperation, has been pivotal in strengthening bilateral ties and fostering economic growth in both regions.

Over the past decade, the CCI has facilitated numerous projects across various sectors, including finance, aviation, logistics, and information technology. These projects have not only boosted economic activities but also enhanced the strategic connectivity between Singapore and Chongqing, serving as a model for international cooperation.

The initiative’s achievements include the development of the Chongqing Connectivity Initiative Financial Services, which has significantly improved cross-border financial services. Additionally, the CCI has played a crucial role in enhancing logistics and transportation links, thereby reducing costs and improving efficiency for businesses operating between the two regions.

As the CCI enters its second decade, both Singapore and Chongqing are committed to further deepening their partnership. Future plans include expanding the initiative’s scope to include new areas of collaboration, such as digital economy and green development, which are expected to drive sustainable growth and innovation.

The 10th anniversary of the CCI not only highlights the successes achieved so far but also sets the stage for continued cooperation and mutual benefits in the years to come.
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