Industry News

Indeed’s latest report, “The Work Ahead,” reveals a significant gap between AI adoption and employee preparedness in Singapore, emphasising the urgent need for enhanced training and support. The report, unveiled at the Talent Trends 2025 event, shows that whilst 36% of workers are using generative AI tools, 33% have not received formal training. This disparity poses challenges as employees struggle to keep pace with technological advancements, potentially affecting their professional growth and competitiveness in a digital-first job market.

The report highlights that 39% of employees cite insufficient training as a major barrier to becoming AI-ready. Additionally, 39% feel overwhelmed by the rapid pace of change, and 28% attribute their lack of readiness to insufficient early exposure. Callam Pickering, Indeed’s APAC Senior Economist, noted, “There’s clearly strong interest among job seekers to build AI skills, but too many are being left behind due to a lack of formal training.”

To address these challenges, the report suggests that workers are more likely to adopt new technologies when they are user-friendly and supported by clear documentation. Structured training, such as workshops, and opportunities to experiment in low-pressure environments are also crucial. Pickering emphasised the importance of employers updating training programmes to reflect the realities of an AI-driven workplace, advocating for continuous learning pathways and hands-on experiences.

The findings are based on a survey conducted by Indeed and Censuswide with 1,500 respondents, including both blue-collar and white-collar workers, as well as business leaders across Singapore.
“`

Singapore’s industrial sector continues to show resilience, with the JTC All Industrial rental index marking its 19th consecutive quarter of growth in Q2 2025. According to Colliers, the index has surged by 24.6% since its last low in Q3 2020, reaching its highest point since Q2 1996. The rental index increased by 0.7% quarter-on-quarter, up from 0.5% in the previous quarter.

The growth was primarily driven by the multiple-user factory and business park segments. However, overall industrial occupancy slightly declined to 88.8%, down from 89.0% in the previous quarter, largely due to a 1.7% drop in the warehouse segment.

The price index also saw a rise, growing by 1.4% quarter-on-quarter, reaching its highest level since Q4 2015. Despite this, both rental and price growth are expected to moderate due to slower economic growth, global policy uncertainties, and an increase in industrial supply.

In the warehouse sector, rents increased by 0.4% quarter-on-quarter, but occupancy fell to 88.8%, the lowest in five years. Demand remains strong from third-party logistics and e-commerce players, although older facilities are offering incentives to attract tenants. With over 8.7 million square feet of warehouse space expected by 2028, short-term pressure on rents is anticipated.

Business parks maintained a growth rate of 1.2% quarter-on-quarter, with occupancy improving to 76.7%. New completions like Punggol Digital District contributed to this growth. Some business parks are exploring rezoning, as seen with the residential project LyndenWoods.

Looking ahead, the industrial space supply is set to increase significantly until 2027. Despite global trade uncertainties, Singapore’s industrial sector remains robust, supported by trade-related sectors. However, the boost from front-loading activities is expected to diminish in the latter half of the year, with rental growth likely to moderate. Nonetheless, Singapore’s role as a logistics hub continues to attract demand for high-spec and bonded facilities.
“`

Federal Bank has unveiled India’s first biometric authentication solution for e-commerce card transactions, in partnership with fintech firms M2P and MinkasuPay. This innovative service allows customers to authenticate online purchases using their fingerprint or Face ID, replacing traditional one-time passwords (OTPs). The solution promises a swift 3-second checkout experience, aligning with the Reserve Bank of India’s (RBI) compliance standards.

The introduction of biometric authentication marks a significant shift in the Indian banking landscape, offering enhanced security and improved user experience. Customers can now enjoy a seamless transaction process, with the added benefit of top-tier security. “This launch is more than a tech upgrade—it’s a transformation in how our customers experience banking,” said Virat Sunil Diwanji, National Head of Consumer Banking at Federal Bank.

The collaboration with M2P and MinkasuPay underscores a commitment to building secure, scalable infrastructure that elevates user experience. Madhusudanan R, Co-founder of M2P Fintech, highlighted the milestone, stating, “We are not just innovating—we’re reimagining how trust and convenience can coexist in digital payments.”

The biometric solution is fully compliant with RBI’s Two-Factor Authentication guidelines and offers a fallback to OTP if biometrics are not captured. It is available on both Android and iOS devices, requiring a simple one-time enrolment. Anbu Gounder, CEO of MinkasuPay, emphasised the goal of providing the best and most secure payment experience.

Currently live for Federal Bank debit and credit cardholders across select partner merchants, the service will expand in phases, promising a future of frictionless digital transactions.
“`

Chocolate Finance has announced the successful closure of a $15m Series A+ funding round, led by Nikko Asset Management, as it celebrates its first anniversary. The company has also received regulatory approval to operate in Hong Kong, marking a significant step in its regional growth strategy. This funding will enable Chocolate Finance to enhance its product offerings and expand its presence in Asia’s dynamic financial markets.

The funding round saw participation from existing investors, including Peak XV, Prosus, Saison Capital, and founder Walter de Oude. “Securing this latest round of funding is a strong vote of confidence in Chocolate’s vision, our business fundamentals, and the incredible team driving it,” said de Oude. The capital will be used to accelerate product innovation and regional expansion, with a focus on providing a simple and effective platform for cash savings.

In its first year, Chocolate Finance has achieved nearly $660m (S$900m) in assets under management and delivered $16.6m (S$22.7m) in returns to almost 100,000 users. The company aims to offer an alternative for consumers to grow their idle cash, often left in low-interest accounts, into what they term ‘happy money’.

To celebrate its anniversary, Chocolate Finance is launching a limited-time Double Referral Programme, offering enhanced rewards and exclusive merchandise from 22 July to 31 August 2025. This initiative aims to deepen engagement with its community of users, known as ‘Chocolatiers’.

As Chocolate Finance continues to grow, it remains committed to delivering a transparent financial experience that prioritises simplicity and real value.

“`

The latest data from JTC’s Q2 2025 statistics highlights a continued upward trend in Singapore’s industrial rental market, with the All Industrial Rental Index rising by 0.7% quarter-on-quarter. This marks the 19th consecutive quarter of rental increases, driven by strong demand across various industrial segments.

Rents in the business park segment saw the most significant growth, increasing by 1.2% quarter-on-quarter, consistent with the previous quarter’s performance. This growth is attributed to newer developments in centralised locations such as one-north and Science Park I, which have seen rental increases. However, older assets continue to face challenges with higher vacancy rates and weaker demand.

The multi-user factory segment experienced a 0.9% rise in rents, accelerating from a 0.3% increase in the previous quarter. This growth is driven by occupiers seeking high-quality facilities and landlord initiatives such as fitted units. Despite this, the occupancy rate decreased slightly to 91.0% due to demand lagging behind supply.

Single-user factory rents rose by 0.4%, with the occupancy rate increasing to 89.0%. Major completions, including Kok Tong Transport and Engineering Works’ factory, contributed to a negative net supply as demolitions removed stock from the market.

Warehouse rents increased by 0.4%, although the occupancy rate fell to 88.8% due to significant completions, including Maersk’s World Gateway 2 facility. The JTC All-Industrial Price Index also rose by 1.4%, with prices increasing faster than rents for the fifth consecutive quarter.

Looking ahead, CBRE Research anticipates cautious business sentiment in H2 2025, with Singapore’s business-friendly environment continuing to attract occupiers. The logistics market may shift towards a landlord-favourable environment by year-end as prime logistics supply moderates.
“`

Singapore’s industrial sector experienced a dynamic second quarter in 2025, with demand for industrial space growing by 285,000 square metres. However, the completion of new industrial spaces outpaced demand, resulting in a slight dip in occupancy rates to 88.8%, according to a Huttons report.

The manufacturing sector, a key driver of the economy, expanded by 5.5% year-on-year, contributing to the overall economic growth of 4.2% in the first half of 2025.

The robust performance of the manufacturing sector was attributed to the frontloading of production and exports ahead of a 90-day tariff pause. This led to a 5.2% increase in non-oil domestic exports and double-digit growth in non-oil re-exports during the same period. Notably, the business park segment saw a positive shift, with occupancy rates rising by 0.9 percentage points to 76.7%, driven by increased tenant activity in the Punggol Digital District.

Despite the positive demand, the industrial market faced challenges. The number of transactions for multi-user factory and warehouse spaces fell by 14.3% compared to the first half of 2024, reflecting cautious buying sentiments amid tariff concerns. The largest strata sale was the 21 New Industrial Road property, sold for $62 million.

Price growth in industrial spaces stabilised, with a modest increase of 1.4% in Q2 2025. Rental rates also saw a slight uptick, with industrial space rents rising by 0.7% and business park rents by 1.2%. Looking ahead, the outlook remains cautious, with potential global trade slowdowns and tariff implications posing risks to Singapore’s trade-dependent economy.
“`

Reverie On Hill (ROH), Singapore’s pioneering creator-powered retail concept, has officially opened its doors at Dempsey Hill. This innovative space invites customers to share authentic reviews and content, rewarding them with perks, exclusive discounts, and income opportunities. The concept, launched on 25 July, aims to transform traditional retail by empowering visitors to become creators.

ROH, founded by Gene Kwok of Damnzai, a creative performance agency, is a response to the growing demand for genuine content in marketing. “We kept thinking — there had to be a better way to do creator marketing,” Kwok stated, highlighting the shift from traditional influencer marketing to more authentic, customer-driven content.

Inside the thoughtfully curated space, visitors can explore over 200 products across skincare, wellness, and lifestyle categories. Brands such as Beaund, Desert Free, and Paloma are featured, with some available exclusively at ROH. Each product is equipped with a QR code, allowing shoppers to learn more, post reviews, and even earn commissions through affiliate links.

To celebrate its launch and Singapore’s 60th Birthday, ROH is offering a special SG60 promotion. Customers can enjoy a $60 express facial and receive the full amount back as store credit, available through August and September 2025.

ROH’s membership programme offers escalating benefits, encouraging ongoing engagement. From the Storyteller tier to the exclusive Reverie Black Card, members can enjoy discounts and access to private events. This creator-first approach aims to foster a community of tastemakers who drive the retail experience forward.
“`

Singlife has partnered with the Workplace Safety and Health (WSH) Council to launch a new insurance incentive programme aimed at small and medium-sized enterprises (SMEs) in Singapore. This initiative offers a 10% discount on Singlife’s MyBenefits Plus plan for SMEs that engage in health screening and coaching through the WSH Council’s Total WSH Programme. The programme is designed to encourage businesses to invest in their employees’ health and wellbeing by providing accessible and affordable workplace health insurance.

The Total WSH Programme, managed by the WSH Council, supports companies in creating safer and healthier workplaces through modular activity packages. These packages cover both health and safety, integrating these practices into daily operations. Singlife’s MyBenefits Plus plan offers flexible group insurance solutions, including term life, personal accident, and medical insurance, with optional add-ons for critical illness, outpatient care, and dental benefits.

Additionally, companies opting for non-package group insurance plans will receive complimentary wellness benefits from Singlife in the first year. These benefits include curated wellness privileges and activities under Singlife’s corporate wellness programme, aimed at boosting employee wellbeing and retention whilst reducing healthcare costs.

Chia Ko Wen, Head of Sustainability at Singlife, emphasised the importance of employee wellness, stating, “The wellness and safety of employees are integral to Singlife’s sustainability efforts, as we believe that a healthy workforce is essential to long-term sustainable growth and positive social impact.”

The incentives are available until 31 March 2027, providing SMEs with an opportunity to offset their first-year premiums under the MyBenefits Plus plan. This partnership marks a significant step in recognising SMEs that prioritise employee health and wellbeing.
“`

The latest report from PropNex Research reveals a subdued commercial shophouse market in Q2 2025, with transactions dropping by 10% compared to Q1 2025. The decline is attributed to a mismatch in price expectations between buyers and sellers, compounded by global economic uncertainties following the US’s introduction of sweeping trade tariffs in April.

In Q2 2025, 18 shophouse transactions were recorded, a decrease from 20 in the previous quarter and 21 in the same period last year. Despite the drop in volume, the total value of these transactions rose by 6.6% quarter-on-quarter to $127 million, although this figure remains 35% lower than the $195 million recorded in Q2 2024.

Leasing demand also saw a decline, with 800 rental contracts signed, down 4.9% from Q1 2025. However, shophouse rentals showed signs of recovery, with a 3.1% increase in the monthly median rental to $6.68 per square foot.

The report highlights that prolonged uncertainty and volatility may continue to affect investment appetite, particularly for high-value purchases. However, shophouses, with their limited supply and heritage value, may attract investors seeking stability during turbulent times. The recent revisions to Singapore’s Seller’s Stamp Duty could also shift investor focus from residential to commercial properties, potentially benefiting the shophouse market.

Looking ahead, PropNex suggests that whilst leasing demand may remain stable, the evolving tariff landscape could impact future market dynamics.
“`

The National Heart Centre Singapore (NHCS) has unveiled a pioneering Graduate Certificate in Cardiac Interventional Radiology Nursing, marking a significant advancement in specialised nursing education. This 4.5-month programme, launched to coincide with Nurses’ Day, is designed to equip nurses with the necessary skills to address the rising demand for sophisticated cardiac care in Singapore, where cardiovascular disease is the leading cause of death.

The curriculum, developed in collaboration with SingHealth’s College of Clinical Nursing, combines advanced theoretical knowledge with practical training at NHCS’s Cardiac Catheterisation Laboratory. This structured programme aims to transform traditional on-the-job training into a formal certification process, enhancing nurses’ expertise in complex cardiac procedures and emergency management.

Deputy CEO and Senior Consultant at NHCS, Aaron Wong, emphasised the programme’s importance: “Highly skilled nurses are integral to the success of each procedure. This graduate programme presents a major stride forward in professionalising and deepening the capabilities of our Cardiac Cath Lab nurses.”

The programme addresses a critical healthcare need, as cardiovascular disease claims nearly one-third of lives in Singapore. By providing comprehensive, structured training, the initiative aims to improve patient safety, clinical outcomes, and care delivery. Amy Tay, Chief Nurse at NHCS, highlighted the programme’s impact, stating, “Through investing in nurses’ professional development, we ensure patients receive the highest quality care.”

The first cohort includes nurses from NHCS, Singapore General Hospital, and KK Women’s and Children’s Hospital, with plans to expand to other public healthcare institutions. This initiative is set to strengthen cardiovascular care across Singapore, ensuring nurses are well-prepared for both routine and emergency cardiac procedures.
“`