Industry News

Grab has launched a series of innovative solutions at its first-ever GrabX product showcase in Singapore, aiming to cater to diverse user needs through advanced AI technologies. The event marked the unveiling of products designed to enhance everyday experiences for families, solo users, and explorers.

The new offerings include Grab For Family | Teens, which provides a secure travel option for teenagers aged 13 to 17, featuring safety measures like prioritised driver assignments and ride PIN verification. For solo users, GrabFood for One and Shared Saver offer tailored food delivery options. Meanwhile, explorers can benefit from features like Advance Booking for airport pickups and Dine Out Discovery, powered by GrabMaps.

Anthony Tan, Group CEO and Co-founder of Grab, emphasised the company’s commitment to using AI to solve real-world problems. “GrabX demonstrates our commitment to harnessing the latest technologies to build solutions that address real problems and serve real needs, for everyday people,” he stated.

In addition to these user-focused innovations, Grab has expanded its collaboration with AI research organisations OpenAI and Anthropic. This partnership aims to empower Grab’s merchant and driver partners through AI solutions like the AI Merchant Assistant and AI Driver Companion, which provide actionable insights and support daily tasks.

The introduction of the Grab Early Access Programme allows users to test and provide feedback on new features, ensuring continuous improvement. As Grab continues to integrate AI into its operations, the company remains focused on enhancing safety and convenience for its Southeast Asian user base.
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CIMB Singapore, in collaboration with the Nanyang Centre for Marketing and Technology, has released a report detailing Singaporeans’ aspirations for financial independence. The study, conducted in December 2024, surveyed over 500 residents aged 26 to 60, revealing that 63% aim to achieve financial independence between the ages of 40 and 60. Notably, 52% of respondents believe they need more than S$1 million to be free from financial worries.

The report highlights that younger Singaporeans, particularly those under 30, exhibit the highest confidence in reaching their financial goals early. Despite the substantial financial target, 72% of participants consider financial independence a realistic goal, with 43% expressing confidence in managing their finances to achieve it.

However, financial anxiety remains prevalent, with 39% of respondents frequently experiencing concerns about their financial future. The study identifies high living costs, family responsibilities, and low income as the primary barriers to achieving financial independence.

Whilst 71% of respondents have a financial plan, only 48% have started planning for retirement. The report suggests that financial obligations, reliance on the Central Provident Fund, and a lack of knowledge are the main reasons for the delay in retirement planning.

The findings underscore the importance of financial planning and the need for increased financial literacy among Singaporeans to overcome the challenges of achieving financial independence.
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LinkedIn has released its 2025 Top Companies list for Singapore, highlighting the 15 best workplaces for career advancement. The list, based on LinkedIn’s exclusive data, evaluates companies on employee development, skill-building opportunities, and long-term career progression. This year’s top three are DBS Bank, Boston Consulting Group, and Alphabet Inc, showcasing the dominance of finance, consulting, and technology sectors.

DBS Bank retains the top spot for the third consecutive year, reflecting its commitment to career development and talent investment. “Beyond technical capabilities, we believe the ability to connect the dots, embrace a growth mindset, and demonstrate agility will be critical,” said Lee Yan Hong, Managing Director and Head of Group Human Resources at DBS. Consulting and technology firms like Boston Consulting Group and Alphabet Inc also feature prominently, underscoring the rising demand for strategy and digital transformation expertise.

The healthcare and life sciences sectors are also well-represented, with Roche, Novartis, and MSD making the list, highlighting Singapore’s expanding biomedical ecosystem. The rankings emphasise the importance of adaptability and a growth mindset in high-growth sectors.

The methodology for the list includes key pillars such as employee promotions, skills acquisition, and gender diversity. Companies must have at least 500 employees and maintain attrition rates below 10% to qualify. This year’s list reflects a job market in motion, where a growth mindset is essential for career success.
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CBRE has announced a unique opportunity for developers to acquire two freehold sites in Singapore’s District 19, comprising the Upper Serangoon Shopping Centre and an adjoining land plot. The acquisition offers the potential for a mixed-use development with unobstructed views over the low-density landed neighbourhood.

The Upper Serangoon Shopping Centre, located at 756 Upper Serangoon Road, is being marketed through a public tender process closing on 10 June 2025. The adjoining land plot, Lot MK22-04362W, is available via private treaty. Developers can choose to acquire the shopping centre alone or together with the adjoining plot for a larger redevelopment project.

The site is strategically located within the Surin/Charlton landed enclave, known for its exclusivity and accessibility. It is well-connected by public transport, with the Serangoon MRT Interchange Station just 750 metres away and the Kovan MRT station 1km away. The area is also supported by amenities such as NEX Mall and Heartland Mall.

Michael Tay, Head of Singapore Capital Markets at CBRE, highlighted the potential for a vibrant mixed-use development, subject to relevant authorities’ approval. “By combining Plot 1, 2, and 3 together, there is potential for a developer to curate a vibrant mixed-use development with a total GFA of 176,792 sq ft,” he said.

The relocation of Paya Lebar Airbase in 2030 is expected to enhance the area’s appeal, offering capital appreciation opportunities. Clemence Lee, Executive Director of Singapore Capital Markets at CBRE, noted the site’s attractiveness to both homeowners and investors due to its location and amenities.

The guide price for Upper Serangoon Shopping Centre is $260 million, translating to $1,471 per square foot on the verified gross floor area. Interested parties are encouraged to submit offers for consideration.
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UOB Kay Hian (UOBKH) has released its latest regional market updates, focusing on key sectors in Singapore, Malaysia, and Thailand. The report, dated 4 April 2025, provides insights into the plantation, construction, real estate investment trusts (REITs), banking, and property sectors across these countries.

Singapore’s REITs sector is reportedly starting to regain lost ground, whilst ComfortDelGro Corporation is facing increased competition with the entry of new players. UOBKH maintains a “Buy” rating for ComfortDelGro, with a target price of S$1.76.

In Malaysia, the plantation sector is expected to experience limited direct impact from the US’ reciprocal trade tariffs, as US imports constitute a minor portion of Malaysia’s palm oil exports. UOBKH maintains a “Market Weight” rating for the sector. Meanwhile, Sunway Construction continues to demonstrate robust earnings growth and strong orderbook replenishments, with UOBKH reiterating a “Buy” recommendation and a target price of RM5.05.

In Thailand, the banking sector’s earnings sensitivity is being closely monitored based on financial target guidance. The property sector, however, has been downgraded to “Underweight” following an earthquake that has shaken investor confidence.

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CGS International’s latest ESG update reveals that its portfolio has returned 22.3% since May 2024, underperforming the MSCI SG Index’s 24.9% return. Despite this, the portfolio outperformed the MSCI Singapore ESG Price Return Index, which saw a 16.96% increase. The performance disparity is attributed to the price outperformance and heavier index weightings of companies like SE, GRAB, and financial institutions such as DBS, OCBC, and UOB, compared to CGS International’s equal-weight portfolio.

The Singapore government remains committed to its Green Plan 2030, with no significant policy changes in the recent budget. New initiatives include incentives for electric heavy vehicles, a voucher scheme for energy-efficient consumer durables, and an expansion of the public transport network.

Globally, sustainable fund assets reached a new peak of $3.2t by the end of 2024, marking an 8% year-on-year increase. Europe continues to dominate the sustainable fund landscape, holding over 80% of global assets, whilst the US has seen a decline to 13%. The US administration’s rollback of ESG initiatives has contributed to this decrease.

CGS International has decided to maintain its current ESG portfolio, citing the fundamental growth drivers and ESG credentials of its selected stocks. The portfolio includes companies such as CD, CLI, KEP, PAN, SCI, ST, STE, STM, UOB, and YZJSGD.
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Singapore’s Building and Construction Authority (BCA) has announced significant updates to the Code on Accessibility in the Built Environment, set to take effect from 1 November 2025. The revised code aims to create a more inclusive environment by mandating accessibility features in all new buildings and those undergoing renovations.

The Code Review Committee, formed in September 2023, included representatives from social services, industry stakeholders, academic institutions, and government agencies. The committee’s review addressed gaps in the previous code and anticipated future needs for persons with disabilities, the elderly, and families with young children.

Minister Indranee Rajah emphasised that the update is about more than infrastructure. “It is about creating a society that enables every individual to participate fully and move around safely and independently,” she said.

Key improvements include enhanced wheelchair accessibility, safer ramp designs for the elderly, and increased lactation rooms for families. The code also introduces standardised tactile indicators for the visually impaired and improved signage for those hard of hearing.

Judy Wee, Executive Director of the Muscular Dystrophy Association Singapore, expressed optimism about the changes, noting tangible improvements in daily life for persons with disabilities. Jeffrey Wong from the Real Estate Developers Association of Singapore highlighted the collaborative effort in shaping the new code.

The updated code will be available on the BCA’s website, and building owners are encouraged to utilise the Accessibility Fund for voluntary upgrades. The initiative reflects Singapore’s commitment to a more inclusive society.
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InstaChef Pro has launched Singapore’s first full-stack AI food solution, the K Series automated kitchen, at the FHA-Food & Beverage 2025 event. Running from 8 to 11 April 2025, this showcase highlights a significant advancement in kitchen technology, offering businesses a streamlined approach to food preparation with reduced manpower and space requirements.

Since its debut in August 2023, InstaChef has installed over 70 units in various locations, including schools and hospitals. Developed by AiKit, a local tech company, the K Series features a menu of over 300 fresh, halal-certified dishes, such as Chicken and Salted Fish Claypot Rice and Thai Basil Chicken with Rice. The system is designed to address modern kitchen challenges by combining AI-powered technology with a comprehensive ready-to-cook menu.

The K Series provides a full end-to-end solution, eliminating the need for exhaust or drainage systems, thus lowering setup and operational costs. This innovation allows businesses to launch quickly and scale efficiently, with reduced ingredient waste and overheads. The system can prepare up to 12 dishes in three minutes, supported by a cloud kitchen management system for rapid expansion.

Visitors to FHA-Food & Beverage 2025 can witness live demonstrations of the K Series, sampling dishes like Sambal Fried Rice and Black Truffle Pasta. Exclusive discounts and franchising opportunities are available for those interested in adopting the InstaChef model.
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Researchers from Singapore’s Agency for Science, Technology and Research (ASTAR) and the National Healthcare Group (NHG) have unveiled a groundbreaking imaging technique that could revolutionise the diagnosis and treatment of basal cell carcinoma (BCC), the most prevalent form of skin cancer globally. By integrating Multispectral Optoacoustic Tomography (MSOT) with artificial intelligence (AI), this innovative method promises faster, more accurate, and less painful treatment planning for patients.

The advanced technique utilises photoacoustic imaging (PAI) enhanced by an automated segmentation algorithm to deliver real-time, high-resolution three-dimensional (3D) images of skin tumours. This allows for precise mapping of tumour boundaries, aiding doctors in surgical planning and reducing the likelihood of repeat procedures. The findings have been published in the European Journal of Nuclear Medicine and Molecular Imaging.

BCC is increasingly common in Singapore, particularly among the ageing population. Traditional diagnostic methods, such as biopsies and Mohs micrographic surgery, can be uncomfortable and time-consuming. The new approach, developed by ASTAR Skin Research Labs and NHG’s National Skin Centre (NSC), combines an advanced segmentation algorithm with PAI to automatically identify the shape and size of skin tumours, expediting the diagnostic process.

The technology, currently being tested at NSC, has shown promising early results. Eight patients participated in a pilot study where MSOT scans closely matched existing diagnostic methods. Prof Malini Olivo, a co-author of the study, stated, “Early results have been very promising, showing strong alignment with existing diagnostic methods.”

Whilst the current focus is on BCC, researchers believe the technology could be adapted for other skin cancer types. Prof Steven Thng, Deputy Director at NSC, expressed excitement about the potential to individualise surgery, reducing mortality and morbidity for patients.
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Regional Container Lines (RCL) has announced a strategic partnership with Lloyd’s Register OneOcean to optimise its fleet operations and reduce emissions. By subscribing to LR OneOcean’s voyage optimisation platform, RCL seeks to improve fuel efficiency, cut carbon emissions, and ensure compliance with environmental regulations.

The collaboration involves integrating advanced route optimisation technology, which offers real-time voyage planning, dynamic weather routing, and intelligent speed management. This initiative is expected to significantly reduce fuel consumption and enhance cargo delivery reliability across RCL’s 38-vessel operation.

Jeff Mattick, Customer Success Director at LR OneOcean, expressed enthusiasm for the partnership, stating, “We are proud to support RCL in their digital transformation journey. Our voyage optimisation platform provides the insights and intelligence needed to make strategic, real-time decisions that improve fuel efficiency, enhance voyage planning, and optimise overall fleet performance.”

Captain Phakphum Meejaroen of RCL highlighted the importance of the partnership, saying, “At RCL, we are dedicated to delivering reliable, efficient, and sustainable shipping solutions. Partnering with LR OneOcean allows us to leverage advanced technology to optimise our fleet’s performance, reduce fuel costs, and enhance our service offering to customers.”

LR OneOcean’s solution, backed by over 15 years of expertise in route optimisation and vessel performance, promises measurable environmental and commercial benefits. This partnership marks a significant step in RCL’s commitment to operational excellence and sustainability, potentially setting a precedent for future collaborations in the maritime industry.
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